Comfort systems usa, inc. (FIX)
CashFlow / TTM
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'11Sep'10Jun'10
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income

112,174

114,324

105,428

107,736

116,110

112,903

95,286

79,029

64,454

55,272

64,600

62,787

62,532

64,896

62,912

62,327

60,392

57,440

54,378

43,871

34,425

28,599

22,713

24,946

26,924

28,556

27,766

21,479

17,212

11,849

8,789

-33,105

-33,990

-36,492

-33,206

5,009

0

0

0

Adjustments to reconcile net income to net cash provided by operating activities-
(Gain) loss on disposition of discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

Write-off of debt financing costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

Amortization of identifiable intangible assets

28,439

27,100

26,200

24,353

21,164

20,100

18,878

18,851

19,665

17,400

14,580

11,297

7,708

8,185

8,107

7,947

7,689

7,481

7,809

7,992

7,880

7,653

7,169

6,848

6,807

7,132

7,688

8,360

8,686

8,837

8,939

8,250

7,884

7,462

6,957

6,218

0

0

0

Depreciation expense

25,118

24,490

24,192

23,644

23,020

22,600

21,968

21,424

20,888

20,052

19,251

18,610

18,339

17,981

17,594

17,163

16,362

15,935

15,551

15,154

14,425

13,683

12,846

12,064

11,644

11,440

11,380

11,435

11,582

11,793

12,367

12,420

12,487

12,591

12,073

11,560

0

0

0

Change in right-of-use assets

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Goodwill impairment

-

-

-

-

-

-

-

-

-

1,105

0

0

0

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

0

-

-

-

0

Bad debt expense

7,294

2,978

2,750

3,160

3,536

3,562

3,058

1,430

224

182

179

208

454

-27

243

361

1,079

1,552

1,640

1,934

1,453

1,275

1,164

572

-101

19

-393

-351

1,865

2,453

2,895

2,711

838

936

1,087

1,469

0

0

0

Deferred tax provision

-4,100

-4,251

-3,684

-3,486

-4,043

4,456

9,810

15,125

13,903

4,178

-745

-3,624

-1,294

-1,239

1,735

1,687

-195

-414

-3,435

-5,219

-4,198

-4,579

-553

2,415

4,014

4,514

4,913

4,862

3,940

3,541

-3,474

-9,054

-8,936

-9,525

-7,739

-4,625

0

0

0

Amortization of debt financing costs

426

387

382

382

385

383

382

380

376

376

376

376

376

367

352

338

309

317

308

311

311

283

278

260

253

245

237

229

229

229

230

229

227

226

216

187

0

0

0

Gain on sale of assets

2,036

1,701

1,434

945

953

945

836

801

727

670

702

684

770

761

778

910

849

880

707

935

873

830

970

561

583

589

420

402

530

607

631

590

370

239

191

601

0

0

0

Changes in the fair value of contingent earn-out obligations

561

2,991

6,483

4,045

2,377

2,066

-2,363

-4,398

-3,894

-3,715

0

0

0

-

-

-

-

-

-

0

-

245

-740

-1,700

-1,803

-1,646

-1,329

-541

-605

-662

-11,123

-6,084

-5,463

-5,528

6,216

0

0

0

-

Stock-based compensation

6,333

5,878

6,001

6,966

7,544

7,161

8,081

7,804

7,837

6,377

5,490

5,139

4,889

5,041

5,223

5,780

5,706

5,609

5,568

5,114

4,763

4,806

4,223

4,124

4,478

3,974

3,934

3,873

3,147

2,797

3,038

2,916

2,943

3,604

3,189

3,772

0

0

0

Changes in operating assets and liabilities, net of effects of acquisitions and divestitures-
(Increase) decrease in-
Receivables, net

95,674

49,508

19,542

26,027

26,807

68,621

80,474

54,588

65,866

37,799

26,712

25,164

-14,421

-7,038

6,602

-7,723

-10,704

3,584

19,194

35,855

22,815

18,339

5,879

-18,018

-6,895

12,427

176

8,101

8,174

-2,913

-32,284

-13,039

-11,205

-10,390

45,595

44,309

0

0

0

Inventories

-2,602

-2,366

-131

300

1,493

1,538

1,442

1,095

371

584

548

179

167

-213

-876

-1,864

-1,849

-956

-174

901

589

-281

-795

-963

-778

-1,208

-572

-814

-1,300

-1,195

-854

-617

141

270

-31

320

0

0

0

Prepaid expenses and other current assets

8,044

15,519

7,191

4,765

4,952

-519

-6,160

-2,973

-5,196

-2,467

5,810

3,158

8,012

8,850

3,311

3,091

550

-364

1,234

-1,649

-1,405

-1,494

-2,657

-1,431

-521

109

378

98

-1,419

-370

-3,683

647

1,109

-977

8,746

3,099

0

0

0

Costs and estimated earnings in excess of billings and unbilled accounts receivable

5,678

4,312

-1,803

-1,197

5,708

14,444

9,111

8,061

-409

-1,869

478

4,398

1,624

-3,144

-1,295

-991

1,875

3,630

3,931

-5,143

-3,595

-2,744

-102

7,067

-1,277

1,918

-321

-1,765

-407

-1,636

-3,954

-698

3,196

-4,162

-3,402

-3,592

0

0

0

Other noncurrent assets

317

735

459

-6,700

603

114

107

-646

-836

-1,005

-898

-361

-273

143

332

348

708

479

642

634

225

321

508

642

431

491

736

1,143

1,135

3,334

2,344

-1,298

370

-917

21

3,668

0

0

0

Increase (decrease) in-
Accounts payable and accrued liabilities

44,578

31,046

34,969

552

4,203

47,871

19,010

18,116

22,704

22,068

23,703

9,729

-4,247

2,736

-6,741

-7,912

-1,420

11,617

16,437

23,882

10,812

-4,078

834

32

-4,540

6,776

4,784

-5,065

-5,011

-15,507

-22,887

-19,331

-14,434

-21,477

-1,812

3,743

0

0

0

Billings in excess of costs and estimated earnings

50,453

4,376

3,659

-5,346

6,339

16,786

20,638

31,261

20,123

13,265

12,886

2,704

-6,976

-8,351

-5,932

-9,145

-5,435

7,908

7,502

16,505

18,543

7,545

4,977

-7,622

-16,877

-9,226

-8,232

2,397

4,867

1,776

5,390

8,938

4,761

5,426

2,181

-2,383

0

0

0

Taxes paid related to pre-acquisition equity transactions of an acquired company

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

Other long-term liabilities

-20,969

-14,751

-11,345

-1,583

968

-5,544

7,456

2,328

2,127

11,238

1,161

1,281

1,822

1,689

-1,035

-1,383

-2,264

-2,100

-481

1,480

1,737

1,364

2,288

867

734

965

1,063

503

836

1,231

-1,941

-2,239

-2,198

-2,402

355

531

0

0

0

Net cash provided by operating activities

162,957

142,028

178,903

136,272

144,330

147,190

116,400

130,428

107,888

114,090

107,126

75,947

88,124

91,188

73,038

83,628

90,569

97,867

79,653

79,611

71,751

42,552

52,123

55,675

39,990

38,423

50,860

39,882

39,975

30,510

55,077

40,100

28,930

29,680

-25,737

-26,453

0

0

0

CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment

30,403

31,750

27,850

28,825

30,524

27,268

40,696

37,944

35,978

35,467

22,790

23,959

24,529

23,217

22,849

22,404

20,950

20,808

19,032

20,157

18,924

19,183

20,299

18,500

18,077

17,403

14,848

12,431

12,896

11,782

11,619

11,350

8,400

8,666

8,473

6,785

0

0

0

Proceeds from sales of property and equipment

2,492

2,159

2,068

1,669

1,689

1,698

1,652

1,415

1,433

1,359

999

1,173

1,134

1,062

1,294

1,347

1,352

1,338

1,014

1,300

1,344

1,355

1,773

1,145

1,147

1,107

705

846

863

1,106

1,073

1,098

890

717

622

1,507

0

0

0

Proceeds from sale of business

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

43

86

129

168

164

160

156

156

156

320

328

0

0

0

Sales of marketable securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,000

3,000

4,000

0

0

0

Cash paid for acquisitions, net of cash acquired

203,886

196,470

201,323

252,770

64,734

70,140

65,287

24,818

101,266

94,860

93,513

82,383

405

57,163

58,510

58,787

57,879

6,158

8,268

10,816

57,664

56,314

0

0

0

-

-

-

-

12,656

40,004

39,864

28,172

29,957

40,967

0

0

0

-

Net cash used in investing activities

-230,186

-224,450

-225,494

-279,926

-93,569

-95,710

-104,331

-61,347

-135,811

-128,968

-115,304

-105,169

-23,800

-79,318

-80,065

-79,844

-77,477

-25,628

-26,286

-29,673

-75,244

-74,142

-72,730

-68,714

-20,930

-16,253

-14,057

-11,884

-24,506

-23,168

-50,390

-49,960

-35,526

-35,750

-45,498

-41,629

0

0

0

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from senior credit facility

452,000

356,000

340,000

397,000

158,000

124,000

0

0

0

-

-

-

-

144,000

144,000

148,000

142,000

24,500

61,500

41,500

125,000

128,500

96,500

0

0

-

0

-

-

-

0

0

-

-

-

-

-

-

-

Payments on senior credit facility

212,375

228,000

217,000

193,000

157,000

119,000

0

0

0

-

-

-

-

154,000

129,000

130,000

127,000

53,000

71,500

75,500

96,000

90,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on other debt

15,571

3,784

3,287

3,279

1,611

1,127

1,131

1,617

1,356

835

823

837

600

592

0

0

0

-

-

-

-

-

-

0

-

-

0

0

-

7,349

4,700

5,689

0

-

0

0

-

0

0

Payments on capital lease obligations

-

-

-

-

-

-

-

-

-

256

190

223

242

251

360

413

425

443

496

0

0

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Debt financing costs

-

-

-

-

-

-

-

-

-

-

-

-

-

789

0

0

0

-

-

-

-

-

0

-

-

-

-

0

-

-

-

-

-

-

0

-

-

0

-

Payments of dividends to stockholders

14,881

14,543

14,209

13,706

12,988

12,268

11,718

11,342

11,165

10,987

10,800

10,625

10,446

10,264

10,097

9,923

9,547

9,358

9,159

8,784

8,614

8,444

8,266

8,248

8,089

7,875

7,675

7,482

7,498

7,498

7,494

7,499

7,493

7,520

7,548

7,573

0

0

0

Share repurchase

25,214

19,550

32,277

29,600

27,561

28,533

11,671

12,021

11,103

9,007

11,020

11,980

12,445

13,088

12,502

0

0

-

-

0

-

7,974

6,282

1,682

2,103

1,832

2,344

2,079

0

-

0

0

-

-

0

0

-

0

0

Shares received in lieu of tax withholding

1,339

1,498

1,498

1,498

1,475

1,540

1,540

1,540

1,633

1,419

1,419

1,419

1,374

1,304

2,241

0

0

-

-

0

-

-

-

0

-

-

0

0

-

-

0

0

-

-

-

0

-

0

0

Excess tax benefit of stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,240

740

0

0

-

0

-

0

-

0

0

-

100

-97

-120

242

210

221

498

0

0

0

Excess tax benefit of stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from exercise of options

-

2,350

1,207

1,766

3,667

3,105

3,655

2,915

1,554

2,052

2,141

2,141

2,039

1,578

1,500

2,194

3,716

3,738

3,096

2,680

984

1,229

4,369

5,425

5,410

4,883

1,877

577

308

329

144

111

206

293

235

325

0

0

0

Distributions to noncontrolling interests

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,904

5,111

6,828

0

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred acquisition payments

787

637

0

0

0

-

-

-

-

2,802

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments for contingent consideration arrangements

10,615

1,343

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

345

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) financing activities

171,363

87,590

67,706

152,440

-46,850

-42,402

-22,317

-75,545

21,698

19,346

12,337

25,405

-76,420

-36,260

-12,708

-6,216

-8,444

-47,839

-52,177

-58,983

1,735

11,600

19,184

39,452

-3,845

-10,873

-27,163

-33,463

-17,907

-17,822

-12,714

-11,430

-29,167

-29,039

-34,360

-33,272

0

0

0

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS

104,134

5,168

21,115

8,786

3,911

9,078

-10,248

-6,464

-6,225

4,468

4,159

-3,817

-12,096

-24,390

-19,735

-2,432

4,648

24,400

1,190

-9,045

-1,758

-19,990

-1,423

26,413

15,215

11,297

9,640

-5,465

-2,438

-10,480

-8,027

-21,290

-35,763

-35,109

-105,595

-101,354

0

0

0