Emcor group, inc. (EME)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10Mar'10
Cash flows - operating activities:
Net income

75,665

86,924

81,834

83,972

72,410

77,966

79,421

70,816

55,374

53,198

64,597

56,788

52,610

40,887

51,557

55,355

34,354

51,054

41,907

46,836

32,710

43,808

46,777

41,000

41,842

46,269

28,893

21,474

30,718

46,788

40,310

33,980

27,808

37,490

41,483

29,322

25,376

40,907

-174,564

28,556

22,417

Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization

11,767

11,488

11,021

10,806

10,585

9,815

9,452

9,522

9,711

9,665

9,881

10,164

10,190

9,764

9,852

9,933

9,332

9,488

8,864

9,180

8,762

9,313

9,255

9,089

8,867

10,403

9,012

8,740

8,155

8,627

7,809

7,817

6,951

7,436

7,483

6,275

6,232

6,478

6,357

6,366

6,297

Amortization of identifiable intangible assets

14,747

13,600

11,331

11,559

11,610

10,918

10,130

10,684

10,668

12,280

12,063

12,076

12,181

10,230

10,667

10,541

9,470

9,504

9,440

9,490

9,461

9,469

9,492

9,501

9,504

9,711

8,630

6,351

6,336

7,426

7,406

7,385

7,545

7,534

7,730

5,712

5,374

4,933

3,779

3,897

3,808

Accounts Receivable, Credit Loss Expense (Reversal)

2,614

979

770

1,524

-673

1,839

254

-1,128

1,135

1,273

3,484

1,065

1,478

2,232

-516

3,185

1,293

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes

4,375

2,614

7

-3,416

2,496

-436

-170

1,911

2,944

-47,367

419

-500

-5,910

-7,278

-2,564

-557

2,291

-6,702

-5,004

674

732

1,314

-214

135

4,513

12,523

-230

-3,923

3,487

5,677

-530

263

1,216

4,685

-479

-3,133

7,753

-8,003

-17,130

-2,058

11,801

Loss on sale of subsidiary

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-12

-596

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Gain on sale of equity investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

39

7,900

4,470

Excess tax benefits from share-based compensation

157

399

8

94

499

535

0

349

716

35

11

690

864

484

244

601

1,217

357

268

83

955

2,378

259

758

4,869

3,357

273

576

418

1,447

354

53

5,229

2,760

129

194

536

1,170

239

65

0

Equity loss (income) from unconsolidated entities

-

-

-

-

-

100

-43

249

41

-268

374

242

516

850

559

-68

228

1,249

600

564

470

91

513

1,296

-460

168

640

181

59

302

214

182

232

286

398

427

190

249

221

68

305

Non-cash share-based compensation expense

3,291

-

2,615

2,668

3,557

-

2,546

2,688

3,268

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Distributions from unconsolidated entities

-

-

-

-

-

668

595

262

1,585

3,198

479

1,739

90

384

0

836

27

36

0

0

3,316

127

1,068

500

72

45

0

34

600

20

1

26

840

30

56

0

520

92

1

-1

866

Other reconciling items

-199

-

-253

356

-467

-

-57

-10

-379

-

5,038

-2,716

508

-

-1,279

-2,247

-3,318

-

-2,112

-1,968

-3,269

-

-4,820

-2,147

-1,038

-

14

-638

-1,779

-

725

-2,117

-2,361

-

-1,231

-1,749

-1,826

-

-1,296

-7,674

1,852

Changes in operating assets and liabilities, excluding the effect of businesses acquired:
Net cash used in operating activities

-78,813

178,779

219,119

15,237

-57,435

205,119

98,542

26,437

-59,087

127,726

135,660

106,568

-3,905

133,448

81,139

84,946

-37,161

171,085

101,647

11,755

-17,821

137,663

69,354

63,956

-24,316

82,022

120,258

42,891

-95,102

141,377

53,593

22,567

-33,129

90,753

52,386

41,402

-35,116

99,275

44,455

-1,137

-73,066

Cash flows - investing activities:
Payments for acquisitions of businesses, net of cash acquired

2,582

220,996

15,993

32,867

31,124

46,370

503

22,518

2,689

24,499

0

1,331

81,393

64

600

232,029

254

25,838

1,181

1,176

0

-

-

-

-

-

-

-

-

0

0

-431

21,044

-522

-17

259,417

42,428

28,437

19

620

10,826

Proceeds from sale of subsidiary

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-13

1,121

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of equity investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

7,938

17,632

Proceeds from sale or disposal of property, plant and equipment

196

3,875

286

303

1,023

322

310

363

242

1,889

496

1,230

399

173

941

425

484

926

352

998

1,571

4,101

508

1,699

931

1,759

310

312

549

1,240

1,111

550

169

1,034

116

86

173

500

41

321

170

Purchase of property, plant and equipment

12,035

12,603

13,374

9,342

13,113

14,805

12,760

9,326

6,588

8,571

8,445

7,093

10,575

10,342

10,356

9,934

9,016

12,598

7,069

8,857

6,936

10,461

10,995

8,506

8,073

11,491

9,186

7,815

7,005

8,519

10,344

11,186

7,826

10,086

8,941

6,037

4,517

5,389

6,101

4,380

3,489

Investments in and advances to unconsolidated entities

0

1,458

0

0

794

0

0

680

2,804

675

0

0

0

-

-

-

-

-

-

-

-

2,000

275

1,290

300

800

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-14,421

-230,382

-29,127

-41,822

-44,008

-60,851

-12,954

-32,078

-11,839

-31,381

-7,949

-7,194

-91,569

-10,332

-10,015

-241,538

-8,786

-37,510

-7,898

-9,035

-5,365

-8,360

1,123

-8,110

-6,321

-16,260

-456,769

-3,937

-6,456

5,536

-9,087

-10,294

-28,701

-26,169

17,819

-265,396

-46,772

-33,326

-6,040

3,155

3,487

Cash flows - financing activities:
Proceeds from revolving credit facility

200,000

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

3,000

0

150,000

Repayments of revolving credit facility

50,000

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from long-term debt

300,000

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of long-term debt and debt issuance costs

257,549

3,798

3,799

3,801

3,800

3,801

3,800

3,834

3,800

3,801

3,800

3,801

3,800

100,003

309,231

4,378

4,378

4,378

4,378

4,378

4,380

4,380

4,318

4,379

4,377

3,007

2

2

2

2

1

37

0

4,131

5

5

6

4

9

9

200,806

Repayments of finance lease liabilities

1,277

1,214

1,206

1,098

1,053

451

354

324

372

366

363

369

347

240

328

356

460

547

860

345

985

443

432

349

491

436

470

396

390

324

344

555

755

440

365

133

157

157

77

80

116

Dividends paid to stockholders

4,500

4,492

4,491

4,487

4,480

4,604

4,655

4,677

4,704

4,705

4,735

4,738

4,793

4,856

4,864

4,855

4,879

5,017

5,024

5,015

5,039

5,184

5,366

5,390

5,353

4,028

4,025

4,027

0

24,085

3,328

3,337

3,323

3,336

0

0

0

-

-

-

-

Repurchase of common stock

99,048

0

0

0

0

125,440

30,296

26,023

34,485

2,222

25,169

10,874

54,901

59,416

731

0

34,074

83,182

0

0

21,148

125,599

58,063

18,332

0

-

-

-

-

0

2,723

7,997

13,192

27,523

0

0

0

-

-

-

-

Proceeds from Stock Options Exercised

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,458

1,010

0

1,368

1,814

511

559

3,974

2,852

387

219

1,714

5,833

1,044

0

1,909

3,611

1,141

127

729

1,699

1,037

82

0

Taxes paid related to net share settlements of equity awards

2,492

2,680

36

0

3,735

103

0

478

3,267

86

739

0

2,637

59

55

14

4,097

0

76

1,831

1,959

0

0

0

1,481

0

0

0

927

0

921

0

733

0

1

0

1,255

-

-

-

-

Issuance of common stock under employee stock purchase plan

1,638

1,589

1,532

1,646

1,323

1,479

1,528

1,421

1,337

1,334

1,268

1,327

864

1,231

1,200

1,195

1,188

1,076

1,096

1,033

1,018

938

924

887

866

766

744

673

671

636

650

629

634

588

587

556

579

555

586

577

587

Payments for contingent consideration arrangements

653

2,328

1,081

2,485

23

39

2

3,298

0

-

-

-

-

-

-

-

-

0

0

282

121

0

0

0

0

0

0

0

537

0

0

3,534

2,214

0

0

1,118

0

-

-

-

-

Distributions to noncontrolling interests

0

0

0

210

40

0

0

0

0

-

-

-

-

660

0

1,450

600

500

0

2,250

7,500

2,000

1,350

500

900

0

250

0

1,050

0

600

1,000

0

-

-

-

-

800

1,100

300

300

Excess tax benefits from share-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

357

268

83

955

2,378

259

758

4,869

3,357

273

576

418

1,447

354

53

5,229

2,760

129

194

536

1,170

239

65

0

Net cash provided by (used in) financing activities

86,119

37,077

-34,081

-10,435

-11,808

-132,959

-37,579

-37,213

-45,291

-109,846

-33,538

-19,472

-65,614

-163,770

-8,645

210,286

-47,300

-90,733

-7,964

-12,985

-37,791

-132,476

-67,835

-26,746

-2,893

-71,568

246,657

-7,955

-103

-16,495

-5,869

-15,778

-12,445

-29,521

1,486

-1,679

426

2,463

-199

335

-50,635

Effect of exchange rate changes on cash, cash equivalents, and restricted cash

-4,678

4,639

-1,872

-1,473

1,298

-1,436

-864

-2,854

1,733

311

1,192

1,249

490

-1,476

-940

-3,039

-1,220

-1,411

-1,234

2,220

-2,185

-2,217

-2,315

1,351

385

1,582

3,506

284

-4,540

505

1,471

-878

1,608

-107

-1,871

235

2,610

1,313

2,954

-2,973

-6,200

Decrease in cash, cash equivalents, and restricted cash

-11,793

-9,887

154,039

-38,493

-111,953

9,873

47,145

-45,708

-114,484

-13,190

95,365

81,151

-160,598

-42,130

61,539

50,655

-94,467

41,431

84,551

-8,045

-63,162

-5,390

327

30,451

-33,145

-4,224

-86,348

31,283

-106,201

130,923

40,108

-4,383

-72,667

34,956

69,820

-225,438

-78,852

69,725

41,170

-620

-126,414

Supplemental cash flow information:
Interest

-

-

-

-

-

-

3,254

3,174

2,650

-

2,907

2,759

2,841

-

3,258

2,651

2,011

-

1,857

1,847

1,835

-

2,218

1,861

1,527

-

2,163

1,386

1,344

-

1,403

1,448

1,097

-

2,275

2,163

2,175

-

2,636

2,354

1,833

Income taxes

-

-

-

-

-

-

23,737

68,852

2,741

-

27,932

64,971

2,681

-

28,621

55,409

14,146

-

24,378

45,318

2,581

-

13,978

44,003

2,295

-

17,332

39,836

28,311

-

13,955

32,174

14,897

-

2,003

24,828

14,713

-

20,011

25,254

17,720

Non-cash financing activities:
Assets acquired under capital lease obligations

-

-

-

-

-

-

-

-

-

-

445

222

466

-

336

495

907

-

736

944

6

-

0

43

50

-

123

183

169

-

352

365

656

-

446

40

353

-

0

0

0

Contingent purchase price accrued

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

614