Enviva partners, lp (EVA)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15
Cash flows from operating activities:
Net income (loss)

7,633

929

8,852

-3,801

-8,923

9,387

13,356

3,544

-19,335

7,898

5,023

1,497

-45

-12,318

10,346

9,889

5,546

3,394

8,793

2,865

2,511

Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization

13,965

15,834

13,291

11,248

11,208

11,505

9,801

10,031

9,408

11,246

9,709

10,044

9,362

7,283

6,439

7,120

6,893

6,652

7,579

8,237

8,270

MSA Fee Waivers

3,186

-

7,703

11,046

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of debt issuance costs, debt premium and original issue discounts

407

344

304

300

295

265

280

276

272

287

393

387

381

555

446

446

446

375

356

370

505

Impairment of inventory

-

-

-

-

-

-

-

-

10,383

-

-

-

-

-

-

-

-

-

-

-

-

General and administrative expense incurred by sponsor

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

475

General and administrative expense incurred by the Hamlet JV prior to Enviva Port of Wilmington, LLC and Enviva Pellets Sampson, LLC Drop-Downs

-

-

-

-

-

-

-

-

-

-

-

-

-

3,526

-675

575

661

-

-

-

-

General and administrative expense incurred by the First Hancock JV prior to Enviva Port of Wilmington, LLC Drop-Down

-

-

-

-

-

-

-

-

-

-

517

383

438

-

-

-

-

-

-

-

-

Allocation of income tax expense from Enviva Cottondale Acquisition I, LLC

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

2,663

Loss on disposal of assets and assets held for sale

-

-

-

-

-

-1,486

-656

886

-1,130

-2,484

-1,237

-1,981

-24

-707

-1,523

-155

-1

-2,181

127

-9

-18

Unit-based compensation

2,158

1,575

350

1,013

2,472

625

1,781

2,480

1,343

-99

1,833

1,566

1,714

1,568

1,162

819

681

-

-

-

-

Fair value changes in derivatives

5,829

-5,976

1,929

2,562

-2,216

2,999

1,542

3,448

-525

-13

251

-997

759

-

-

-

-

0

0

0

-23

Unrealized (losses) gains on foreign currency transactions, net

35

-119

-29

63

-92

9

-3

-98

69

-

-

-

-

-

-

-

-

-

-

-

-

Change in operating assets and liabilities:
Accounts and insurance receivables

7,604

25,822

-13,659

-2,192

6,359

10,774

3,802

-2,574

-31,232

29,343

-3,269

3,435

-28,192

41,098

-10,752

9,703

-831

-5,807

6,775

-169

2,778

Related-party receivables

0

0

-3,928

-5,486

8,022

-2,843

189

1,734

-1,800

-4,889

270

2,656

386

-517

-95

86

289

-

-

-

-

Prepaid expenses and other current and long-term assets

-113

146

-128

268

72

22

-137

247

50

214

-233

-525

682

-6,828

-279

365

-724

-667

-536

1,719

-401

Assets held for sale

-

-

-

-

-

-

-

-

-

-

238

-273

345

-

-

-

-

-

-

-

-

Inventories

6,935

-8,790

10,661

3,384

-3,366

-1,892

-2,286

-4,488

16,509

-10,191

5,536

-2,357

1,254

-439

10,521

-5,612

3,941

-4,773

2,293

5,742

-3,240

Other long-term assets

-

-

-

-

-

-

-

-

-

-

-38

-27

-21

-

-33

-6,756

121

6,545

-96

-158

-240

Derivatives

883

-256

-951

-265

-298

173

-6,027

346

601

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-8,158

-2,482

3,161

-

-

-

3,253

Accounts payable, accrued liabilities and other current liabilities

9,526

11,534

4,832

-5,850

-1,229

9,207

-2,727

-241

8,677

4,514

-2,735

-727

-3,383

-

-

-

-

-

-

-

-

Related-party payables

5,281

-15,908

-11,669

11,974

-12,330

-3,144

6,762

3,056

-6,501

6,901

7,821

3,591

-2,580

4,681

-1,727

-4,100

4,771

3,346

-546

993

328

Accrued liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-2,344

7,587

427

-

-

-

1,718

Accrued interest

9,751

-11,568

6,998

-8,092

7,514

-7,267

7,574

-7,514

7,574

-7,631

6,405

-6,525

6,421

4,296

47

45

45

45

-1,873

1,947

-14

Deferred revenue

-2,257

-

-

-

0

-

-

-

-

-

-

-

143

-

-4,320

9,071

-216

-90

38

458

19

Other current liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-5

-7

-229

-

-

-

25

Related party accrued interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

801

Operating lease liabilities

1,021

1,111

1,243

1,579

893

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other long-term liabilities

448

258

182

-444

98

349

442

169

37

387

244

-5

382

-

-

-

-

-

-

-

-

Net cash provided by (used in) operating activities

27,904

10,381

35,917

17,831

-10,269

13,922

38,898

1,917

29,316

13,064

27,873

8,514

37,644

693

4,261

31,459

19,391

20,894

11,026

12,239

21,698

Purchases of property, plant and equipment

25,691

29,785

31,592

38,613

11,279

11,098

10,155

3,880

1,999

6,828

6,004

6,568

9,344

58,650

23,375

18,608

12,254

94,954

2,768

1,222

1,272

Payment of acquisition related costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

1

3,572

Other

3,769

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-29,460

-22,801

-30,090

-113,313

-11,279

-11,098

-10,155

-2,750

-1,999

-6,685

-6,004

-6,568

-9,344

-58,572

-21,690

-18,608

-12,254

-94,932

-2,544

-1,170

-4,844

Cash flows from financing activities:
Proceeds from senior secured revolving credit facility, net

70,000

-

-

-

46,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from long-term debt and finance lease obligations, net

-

-

-

-

-

-

-

28,188

-1,172

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments on other long-term debt and finance lease obligations

903

-

-

-

553

-

-

-

-

-1,474

992

-14,722

17,158

167,256

836

6,795

29,329

103,109

-85,865

169,624

12,770

Principal payments on related-party debt

-

-

-

-

-

-

-

-

-

-

-

-

-

3,109

78

115

89

-

-

-

4,800

Cash paid related to debt issuance costs

985

-

-

-

0

-

-

-

-

526

0

0

209

-

-

-

-

-

-

-

-

Cash restricted for debt service

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-4,000

Distributions, proceeds from contributions and contributions associated with Enviva Pellets Sampson, LLC and Enviva Port of Wilmington, LLC Drop-Downs from our sponsor and Hamlet JV

-

-

-

-

-

-

-

-

-

-

-

-

-

34,058

0

0

5,002

-

-

-

-

Proceeds from common unit issuances, net

0

0

-148

-3,030

100,000

0

0

0

241

223

0

0

1,715

-

-

-

-

-

-

-

-

Payments in relation to the Hamlet JV Drop-Down

40,000

0

0

24,300

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Distributions to unitholders, distribution equivalent rights and incentive distribution rights holder

26,571

26,133

26,053

23,859

19,614

18,355

18,694

18,622

17,847

18,002

16,331

15,163

14,829

13,535

13,472

12,799

11,570

-

-

-

-

Proceeds from debt issuance

-

-

-

-

-

-

-

-

-

-

-

-

10,000

-

-

-

-

-

-

-

-

Payment to General Partner to purchase affiliate common units for Long-Term Incentive Plan vesting

-

-

-

-

-

0

0

0

2,341

-

-

-

-

-

-

-

-

-

-

-

-

Payment for withholding tax associated with Long-Term Incentive Plan vesting

3,727

40

0

1,870

0

156

2,715

0

1,665

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from borrowings on Revolving Credit Commitments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

6,000

28,500

-

0

172,505

6,000

Proceeds from contributions from the First Hancock JV prior to Enviva Pellets Sampson, LLC Drop-Down

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

11,861

-

-

-

-

Contributions from sponsor related to Enviva Pellets Sampson, LLC Drop-Down

-

-

-

-

-

-

-

-

-

-

0

1

1,651

-

-

-

-

-

0

0

10,236

Proceeds from contributions from the First Hancock JV prior to Enviva Port of Wilmington, LLC Drop-Down

-

-

-

-

-

-

-

-

-

-

3,826

3,224

2,915

-

-

-

-

-

-

-

-

Net cash (used in) provided by financing activities

-2,186

19,116

-8,475

-6,258

125,833

-1,227

-41,670

9,566

-22,784

-15,308

-13,497

-13,716

-15,915

36,949

19,019

3,319

-5,629

-5,258

-7,445

49,210

2,666

Net (decrease) increase in cash, cash equivalents and restricted cash

-3,742

6,696

-2,648

-101,740

104,285

1,597

-12,927

8,733

4,533

-8,929

8,372

-11,770

12,385

-20,930

1,590

16,170

1,508

-79,296

1,037

60,279

19,520

Non-cash investing and financing activities:
Property, plant and equipment acquired included in liabilities

19,435

-

-

-5,037

11,237

-

-

6,095

1,587

-3,996

-5,524

-1,744

13,917

-5,657

-1,705

2,629

18,988

21,784

1,033

52

353

Property, plant and equipment acquired under finance leases

-

-

-

-

-

-

-

286

674

832

0

0

1,124

-

-

-

-

-

-

-

-

Property, plant and equipment transferred from inventories

-

-

-

-

-

-

-

-

2

-53

19

0

260

-

-

-

38

-

-

-

-

Property, plant and equipment capitalized interest

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Contribution of Enviva Pellets Cottondale, LLC non-cash assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

122,529

Distributions included in liabilities

-

-

-

-

-

-

-

-296

1,352

-196

-107

535

509

506

78

288

83

-

-

-

-

Withholding tax payable associated with Long-Term Incentive Plan vesting

-

-

-

-

-

-

-

2,715

0

-

-

-

-

-

-

-

-

-

-

-

-

Common unit issuance costs in accrued liabilities

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Distribution due to sponsor

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

319

Depreciation capitalized to inventories

-

-

-

-

-

-

-

38

1,037

-910

422

-25

86

-154

353

-53

198

-284

248

123

124

Prepaid adjustment for insurance payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

25

Non-cash capital contributions from sponsor

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

35

0

-814

1,118

Non-cash capital contributions from Hancock JV prior to Enviva Pellets Sampson, LLC Drop-Down

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,227

37

81

-

-

-

-

Capitalized insurance included in related-party payables

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-85

89

-

-

-

-

Capitalized labor included in related-party payables

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

116

244

-

-

-

-

Supplemental cash flow information:
Interest paid, net of capitalized interest

723

21,213

1,110

16,938

1,929

16,420

1,659

16,348

795

15,997

824

13,838

854

2,572

2,874

2,848

2,897

2,552

4,427

1,555

1,401