FOUNDATION BUILDING MATERIALS, INC. FBM Cash Flow

Foundation building materials, inc. (FBM)

CashFlow / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15
Cash flows from operating activities:
Net income
51,133	40,239	49,108	1,629	-7,648	-12,183	45,458	81,638	77,498	82,480	-2,216	-18,960	-23,180	-28,370	-27,492	0	0	0
Add: loss on sale of discontinued operations
-243	-1,589	12,312	12,323	12,367	13,713	0	0	0	-	-	-	-	-	-	-	-	-
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest
-	-	-	-	-	10,523	0	0	0	-	-	-	-	-	-	-	-	-
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent, Total
51,376	41,828	34,186	-16,079	-29,327	-36,419	0	0	0	-	-	-	-	-	-	-	-	-
Adjustments to reconcile net income to net cash provided by operating activities from continuing operations:
Depreciation
32,111	33,708	35,190	35,331	34,561	33,400	31,994	30,308	29,958	29,404	28,660	25,780	21,097	16,487	11,593	0	0	0
Amortization of intangible assets
47,210	46,736	46,181	45,596	44,786	43,982	43,126	40,277	40,883	41,456	41,775	43,127	39,064	34,891	29,182	0	0	0
Amortization of debt issuance costs and debt discount
2,157	2,156	2,153	3,024	5,285	7,370	9,392	10,404	10,135	9,910	9,703	9,087	7,457	5,950	4,386	0	0	0
Inventory fair value purchase accounting adjustment
89	285	878	884	846	1,057	303	463	1,056	720	927	5,498	5,550	6,469	13,825	0	0	0
Gain (Loss) on Extinguishment of Debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Provision for expected credit losses
2,406	2,390	2,173	2,057	2,033	1,810	1,388	2,233	1,999	1,721	1,672	1,242	1,157	1,608	2,406	0	0	0
Stock-based compensation
4,751	4,187	3,719	3,236	2,762	2,175	1,723	1,015	591	1,902	1,691	1,765	1,553	0	0	0	0	0
Unrealized gain on derivative instruments, net
-	-	-	-	-	265	70	38	-86	13,059	5,945	6,203	6,267	-6,952	148	0	0	0
Loss on disposal of property and equipment
-444	-584	116	-210	-731	-552	-643	-233	-60	-200	-1,719	-1,923	-1,843	-1,791	-213	0	0	0
Right-of-use assets non-cash expense
28,547	27,801	20,586	13,601	6,743	0	0	0	0	-	-	-	-	-	-	-	-	-
Paid-in-kind interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Deferred income taxes
1,884	-1,038	13,322	913	2,046	221	-22,031	-10,040	-10,420	-6,263	-9,779	-12,438	-14,676	-17,669	1,361	0	0	0
Change in assets and liabilities, net of effects of acquisitions:
Accounts receivable
-13,824	-20,272	-9,086	13,323	20,403	23,326	35,511	16,136	10,908	-4,602	-1,916	11,473	159	-5,985	9,743	0	0	0
Other receivables
-1,175	-1,151	-3,438	-1,808	-10,018	1,721	3,672	4,196	11,093	3,610	9,974	6,564	11,205	13,220	3,796	0	0	0
Inventories
-615	8,226	-33	-12,084	7,197	8,834	17,188	29,851	12,866	10,449	-550	156	8,322	9,727	6,693	0	0	0
Prepaid expenses and other current assets
-3,834	-1,168	994	-604	709	-2,708	-850	1,202	-802	-378	3,860	3,430	2,275	3,588	-246	0	0	0
Other assets
176	167	-421	2,418	1,986	1,320	-3,222	-3,554	-3,463	-2,970	2,870	604	759	800	-10,000	0	0	0
Accounts payable
-449	2,477	9,406	6,417	-1,154	-1,951	-1,394	16,548	19,498	19,362	-6,857	-30,706	-28,840	-21,622	-16,037	0	0	0
Accrued payroll and employee benefits
2,701	2,449	3,390	2,912	1,789	11,105	6,855	4,218	4,157	-5,351	-2,993	966	-1,401	3,931	4,400	0	0	0
Accrued taxes
-1,470	-3,164	-750	-614	1,027	4,893	3,990	3,162	1,745	-1,528	1,470	887	3,154	3,392	-212	0	0	0
Operating lease liability
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Other liabilities
-7,405	-1,697	3,068	-25,081	-3,695	-16,911	-6,698	-5,977	-8,769	-12,186	8,447	31,145	19,605	35,316	6,703	0	0	0
Net cash provided by operating activities from continuing operations
155,725	145,718	163,975	128,354	98,670	75,849	43,943	48,868	64,057	70,052	50,444	36,240	8,750	33,130	25,532	0	0	0
Cash flows from investing activities from continuing operations:
Purchases of property and equipment
40,602	34,402	36,104	30,182	32,848	34,892	31,099	30,486	27,963	28,249	0	0	0	-	-	-	-	0
Payments of net working capital adjustments related to acquisitions
0	-	-	-	0	-	-	-	420	405	0	0	0	-	-	-	-	0
Payment of net working capital adjustments
-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-
Proceeds from net working capital adjustments related to acquisitions
-	-	-	-	-	154	127	344	8,780	8,602	0	0	0	-	-	-	-	0
Capital expenditures
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-
Proceeds from the disposal of fixed assets
3,677	3,441	3,429	4,114	2,353	2,315	3,663	2,734	2,688	2,586	1,115	1,016	685	587	0	0	0	0
Acquisitions, net of cash acquired
31,632	33,751	45,025	94,180	83,001	93,477	75,098	41,307	81,076	73,038	98,077	396,928	415,114	401,919	1,029,679	0	0	0
Net cash used in investing activities from continuing operations
0	-60,935	-73,927	-116,647	0	-125,940	-102,407	-68,715	-97,991	-90,504	-121,777	-427,998	-449,289	-431,805	-1,055,219	0	0	0
Cash flows from financing activities from continuing operations:
Proceeds from asset-based revolving credit facility
709,217	531,993	544,067	913,333	911,963	897,911	0	0	0	-	-	0	0	-	-	-	-	0
Payments of Asset-Based Credit Facility
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of asset-based revolving credit facility
-	-	-	-	-	799,272	0	0	0	-	-	703,497	584,032	318,000	105,000	0	0	0
Principal payments for term loan
4,500	4,500	3,375	-2,250	1,125	0	0	0	0	-	-	-	-	-	-	-	-	-
Term loan proceeds
-	-	-	-	-	-	-	-	-	-	-	-	-	645,000	1,021,550	0	0	0
Principal payments on long-term debt
-	-	-	-	-	-	-	-	-	-	-	-	-	397,369	463,606	0	0	0
Debt issuance costs and deferred finance costs
-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	0
Payment related to tax receivable agreement
27,850	16,667	16,667	16,667	16,667	0	0	0	0	-	-	-	-	-	-	-	-	0
Tax withholding payment related to net settlement of equity awards
387	155	155	154	146	61	0	0	0	-	-	-	-	-	-	-	-	-
Principal repayment of finance lease obligations
2,698	2,674	2,679	2,732	2,745	2,771	2,756	2,545	2,571	2,582	1,095	2,570	1,866	1,175	2,000	0	0	0
Issuance of common stock
-	-	-	-	-	-	-	-	-	163,952	163,952	163,952	164,189	0	0	0	0	0
Capital contributions
-	-	-	-	-	-	-	-	-	2,997	2,997	69,202	69,202	66,205	339,109	0	0	0
Capital distributions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Net cash used in financing activities from continuing operations
46,065	-80,996	-194,295	-136,570	-113,851	-61,000	66,534	17,490	44,909	3,097	52,819	398,207	432,233	416,657	1,042,455	0	0	0
Cash flows from discontinued operations
Net cash used in operating activities from discontinued operations
-	-	-	-	-	-6,614	0	0	0	-	-	-	-	-	-	-	-	-
Net cash (used in) provided by investing activities from discontinued operations
-	-	-	-	-	121,568	0	0	0	-	-	-	-	-	-	-	-	-
Net cash used in financing activities from discontinued operations
-	-	-	-	-	-162	0	0	0	-	-	-	-	-	-	-	-	-
Net cash used in discontinued operations
-243	-1,589	116,522	124,272	125,248	114,792	0	0	0	-	-	-	-	-	-	-	-	-
Effect of exchange rate changes on cash
-489	269	-167	-38	-176	-503	-117	-156	159	384	339	265	-28	-92	-68	0	0	0
Net increase (decrease) in cash
136,257	2,467	12,108	-629	-3,667	3,198	4,248	-12,863	-148	-16,451	-17,081	6,714	-8,334	17,890	12,700	0	0	0
Supplemental disclosures of cash flow information:
Cash paid for income taxes
13,214	13,190	11,404	6,175	2,586	2,507	2,397	5,409	4,090	4,129	5,456	2,981	4,185	4,448	2,229	0	0	0
Cash paid for interest
30,801	31,749	33,061	52,475	45,611	61,199	53,217	50,368	49,759	50,866	50,965	30,862	37,985	19,745	25,412	0	0	0
Cash paid during the period for early debt repayment penalty
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Supplemental disclosures of non-cash investing and financing activities:
Change in fair value of derivatives, net of tax
2,446	5,443	9,440	8,369	6,949	4,616	762	3,829	3,672	2,970	3,786	2,861	1,922	1,461	722	0	0	0
Assets acquired under capital lease
-	-	-	-	-	-	-	-	-	670	3,059	3,854	3,574	3,196	804	0	0	0
Goodwill adjustment for purchase price allocation
334	466	57	121	187	202	203	-1,067	-2	519	1,728	2,934	1,933	1,210	0	0	0	0
Tax receivable agreement
-	-	-	-	-	-	-	-	-	203,837	203,837	203,837	203,837	0	0	0	0	0
Embedded derivative in issued notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Notes received for disposals of equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0