THE GREENBRIER COMPANIES, INC. GBX Cash Flow

The greenbrier companies, inc. (GBX)

CashFlow / TTM

Feb'20	Nov'19	Aug'19	May'19	Feb'19	Nov'18	Aug'18	May'18	Feb'18	Nov'17	Aug'17	May'17	Feb'17	Nov'16	Aug'16	May'16	Feb'16	Nov'15	Aug'15	May'15	Feb'15	Nov'14	Aug'14	May'14	Feb'14	Nov'13	Aug'13	May'13	Feb'13	Nov'12	Aug'12	May'12	Feb'12	Nov'11	Aug'11	May'11	Feb'11	Nov'10
Cash flows from operating activities
Net earnings
120,672	106,440	105,811	92,170	102,562	162,068	172,063	167,159	162,161	145,873	160,462	188,571	216,862	234,077	284,824	322,417	333,210	328,040	265,309	227,486	203,257	162,764	149,779	112,936	11,217	5,055	-5,381	-18,808	57,540	60,403	61,170	64,844	41,314	23,767	8,387	0	0	0
Adjustments to reconcile net earnings to net cash used in operating activities:
Deferred income taxes
-23,534	-24,380	-20,225	-22,149	-8,821	-36,991	-40,496	-51,263	-32,975	-4,244	4,377	18,023	-1,376	-9,198	-8,935	-25,049	-22,193	-17,739	-20,151	-3,187	-6,484	-4,366	-4,687	-7,016	-15,313	-10,316	-9,662	-2,575	9,992	8,892	11,617	12,476	3,558	6,477	2,399	0	0	0
Depreciation and amortization
102,254	92,366	83,731	80,028	78,717	76,686	74,356	73,674	71,003	67,904	65,129	68,280	66,083	65,966	63,345	53,579	50,600	46,080	45,156	42,856	42,067	41,575	40,422	40,748	40,802	41,421	41,447	43,291	43,447	43,405	42,371	40,722	39,989	38,863	38,293	0	0	0
Net gain on disposition of equipment
25,164	30,569	40,963	42,030	45,836	39,551	44,369	44,760	31,516	27,789	9,740	9,263	7,993	16,649	15,796	11,732	12,141	1,516	1,330	1,277	6,176	11,471	15,039	23,143	22,655	20,315	18,072	9,682	7,136	6,714	8,964	11,117	8,839	8,146	5,121	0	0	0
Accretion of debt discount
5,011	4,732	4,458	4,330	4,276	4,223	4,171	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,455	3,298	3,385	3,321	3,259	3,553	4,562	5,572	6,583	0	0	0
Stock based compensation expense
11,053	11,116	11,153	19,795	24,040	26,569	29,314	27,731	28,147	27,023	26,427	23,989	24,151	24,079	24,037	25,338	23,006	21,349	19,459	18,007	15,616	13,337	11,285	7,913	6,277	5,775	6,302	6,876	8,154	8,901	8,757	8,836	8,009	7,534	7,073	0	0	0
Noncontrolling interest adjustments
11,134	5,218	7,402	9,119	10,725	7,659	2,864	-813	23	2,229	-677	892	-5,544	-3,517	526	-2,319	-1,794	4,525	17,215	20,192	22,159	15,557	2,774	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Other
-1,703	-532	145	2,259	2,539	1,497	1,688	-517	-435	-597	-845	1,013	617	152	560	740	1,126	1,669	1,184	1,196	796	370	576	3,372	3,030	3,152	1,089	-576	-466	1,176	4,905	3,184	3,393	1,649	-311	0	0	0
Decrease (increase) in assets:
Accounts receivable, net
-35,833	-16,676	-13,022	30,645	34,572	-6,793	83,551	23,143	-16,318	55,526	25,272	44,827	68,966	-3,582	32,051	-8,088	10,448	35,043	-13,652	6,292	36,905	-3,362	23,749	18,050	3,502	11,113	7,323	-11,835	-31,944	11,439	-37,763	34,696	63,294	57,403	96,552	0	0	0
Inventories
43,938	149,785	143,168	192,135	170,769	73,326	26,592	-40,152	-4,675	-20,010	2,787	-21,848	-14,116	-14,877	-53,711	34,289	5,495	76,481	143,849	112,859	135,254	64,139	9,675	-6,437	-55,400	-47,332	-19,045	-21,343	-20,252	3,668	-3,709	60,321	116,054	106,779	116,866	0	0	0
Leased railcars for syndication
142,757	-7,484	96,110	27,825	56,280	135,208	54,023	12,857	71,017	28,821	-41,015	25,791	-72,448	-114,508	-19,154	-29,123	30,441	96,941	90,614	123,273	119,740	122,364	57,779	24,606	47,682	10,767	-22,881	10,443	-33,814	-4,769	76,071	15,935	24,435	18,331	20,839	0	0	0
Other
21,316	30,069	-6,843	-1,041	-12,407	-27,419	-34,115	-39,688	-22,442	-14,969	-17,558	3,379	7,722	4,518	16,989	2,950	2,787	5,214	-575	3,244	4,492	3,927	4,069	1,860	-792	-2,093	-969	0	0	0	-	-1,610	-3,867	-6,754	-8,863	0	0	0
Increase (decrease) in liabilities:
Accounts payable and accrued liabilities
-40,536	19,438	55,910	49,715	36,056	26,407	54,032	45,276	19,294	14,127	-25,422	-33,021	-28,762	-31,196	-85,928	-39,423	-20,550	7,846	72,419	49,990	101,370	75,467	63,362	64,683	40,577	7,470	-15,429	-39,770	-66,111	-32,060	16,236	65,801	113,521	102,425	130,673	0	0	0
Deferred revenue
-4,853	-32,601	-19,275	-24,106	9,317	-8,369	-20,231	22,852	918	35,602	33,039	12,759	-1,546	40,324	50,712	33,931	47,348	6,097	13,308	3,135	14,086	18,373	11,713	4,872	-9,044	-19,696	-8,485	-1,786	21,897	22,488	11,304	12,146	-4,467	-6,633	-5,287	0	0	0
Net cash used in operating activities
-7,793	5,559	-21,241	-70,408	-35,628	45,876	103,341	287,299	193,108	214,124	285,604	220,423	272,698	432,487	337,170	357,454	349,441	182,672	192,333	83,724	61,294	95,532	135,907	167,095	137,824	116,622	104,592	81,660	157,560	99,563	116,056	96,688	9,577	4,202	-34,252	0	0	0
Cash flows from investing activities
Proceeds from sales of assets
103,375	118,393	125,427	124,126	111,961	112,661	153,224	133,633	109,393	90,020	24,149	35,352	43,072	71,551	103,715	89,374	82,817	44,575	5,295	19,348	28,583	42,257	54,235	75,242	81,708	79,303	75,338	39,918	35,803	37,905	33,560	37,804	25,036	20,417	18,730	0	0	0
Capital expenditures
140,891	192,772	198,233	208,137	221,521	175,632	176,848	150,873	118,374	103,374	86,065	141,154	132,233	136,002	139,013	81,804	80,107	90,270	105,989	111,597	107,554	94,999	70,227	45,672	41,831	42,228	60,827	95,445	117,697	128,019	117,885	96,730	89,883	87,773	84,302	0	0	0
Decrease (increase) in restricted cash
-	-	-	-	-	-	-	-	-	-	-	84	-181	-1,176	15,410	-243	155	648	-271	-556	-242	195	333	562	65	1,653	2,530	2,817	6,650	5,171	4,164	3,872	322	-486	-412	0	0	0
Investment in and advances to unconsolidated affiliates
1,500	1,500	11,393	0	0	0	-	-	-	-	40,632	37,835	8,265	11,539	12,855	13,618	33,878	33,819	34,453	42,423	18,215	15,000	13,753	2,477	3,107	3,333	2,240	978	822	596	506	1,895	2,121	2,121	2,330	0	0	0
Cash distribution from unconsolidated affiliates and other
0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash distribution from joint ventures
-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-48	1,791	1,795	1,800	1,774	0	0	0
Net cash provided by (used in) investing activities
-389,511	-432,993	-443,981	-132,572	-159,103	-129,248	-80,292	-83,971	-108,305	-96,200	-129,125	-140,654	-91,480	-67,025	-55,708	2,163	-25,805	-76,201	-131,531	-133,401	-96,477	-67,937	-30,078	26,531	36,705	28,507	6,159	-62,891	-93,062	-95,983	-88,947	-66,484	-68,945	-70,651	-69,264	0	0	0
Cash flows from financing activities
Net change in revolving notes with maturities of 90 days or less
16,148	7,134	-105	5,506	13,728	16,000	23,401	0	0	0	-	-	-	-	-49,000	-73,000	22,000	147,000	49,000	0	0	0	-	-	-	-	-16,396	18,785	-55,165	-20,217	-57,302	18,817	55,797	61,420	71,625	0	0	0
Proceeds from revolving notes with maturities longer than 90 days
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	44,451	45,708	48,644	53,401	37,819	41,004	49,947	36,456	38,177	38,976	37,095	65,411	63,773	68,430	61,805	26,522	25,159	0	0	0
Repayments of revolving notes with maturities longer than 90 days
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	55,644	44,283	37,819	60,679	72,947	72,890	73,177	42,903	34,966	37,238	33,114	37,269	33,934	0	0	0	-	-	-	-
Proceeds from issuance of notes payable
-	-	525,000	225,022	224,842	236,633	13,771	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,750	0	0	0	-	-	-	-
Repayments of notes payable
23,450	19,267	182,971	182,798	182,854	192,913	22,269	22,102	20,634	9,356	8,297	8,307	22,288	22,288	22,299	21,432	7,465	7,478	7,475	7,480	130,075	129,332	128,797	128,060	59,042	58,824	58,831	58,634	4,537	7,057	7,070	78,819	313,821	311,369	311,360	0	0	0
Debt issuance costs
-	5,868	8,630	0	0	0	-	-	-	-	-	-	-	-	4,161	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repurchase of stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	33,498	54,997	56,250	68,423	69,950	55,741	71,640	54,442	33,583	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Dividends
33,854	33,069	33,193	33,120	33,019	30,062	29,914	28,137	26,298	19,062	24,890	24,560	23,866	29,345	23,303	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Decrease in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash distribution to joint venture partner
20,527	18,225	16,879	15,335	36,333	49,318	73,033	70,657	50,783	44,226	28,511	59,649	61,035	88,623	95,092	70,596	69,496	35,754	20,375	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Investment by joint venture partner
-	-	-	-	-	-	6,500	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	419	1,048	1,676	2,443	3,206	0	0	0	-	-	-	-	-	-	-	-
Tax payments for net share settlement of restricted stock
3,454	3,444	6,321	6,328	7,286	7,409	7,723	7,723	7,433	7,456	5,215	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax deficiency from restricted stock awards
-	-	-	-	-	-	-	-	-	-	-	-2,369	-2,426	-2,478	2,813	2,730	1,836	2,765	2,908	2,964	3,857	2,927	109	232	829	835	900	0	0	0	-	-	-	-	-	-	-	-
Other
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-887	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	26	0	0	0
Net cash provided by (used in) financing activities
229,003	227,261	276,901	-10,027	-23,692	-29,835	-89,267	-84,544	-72,815	204,898	204,422	159,444	76,709	-323,386	-227,415	-257,353	-171,391	-12,872	-62,824	-16,728	45,552	15,019	-17,561	-29,633	-87,899	-105,017	-65,732	-34,606	-50,352	5,506	-28,794	-16,983	229	46,008	57,991	0	0	0
Effect of exchange rate changes
-16,315	-9,246	-12,666	-5,070	-13,376	-15,369	-14,666	-9,303	12,864	19,354	12,499	11,760	4,284	-5,919	-4,298	-10,607	-14,216	-14,924	-9,964	-9,304	-8,786	-4,882	-787	2,893	1,662	-170	-1,155	2,528	825	11,343	5,034	-2,608	716	-7,951	-3,117	0	0	0
Decrease in cash and cash equivalents and restricted cash
-184,616	-209,419	-200,987	-218,077	-231,799	-128,576	-80,884	109,481	24,852	342,176	373,400	250,973	262,211	36,157	49,749	91,657	138,029	78,675	-11,986	-75,709	1,583	37,732	87,481	166,886	88,292	39,942	43,864	-13,309	14,971	20,429	3,349	10,613	-58,423	-28,392	-48,642	0	0	0
Balance Sheet Reconciliation:
Cash and cash equivalents
-501,285	-120,489	-329,684	-300,311	396,853	-402,046	-530,655	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Restricted cash
-21,818	-8,579	-8,803	-21,086	21,640	-8,852	-8,819	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest
21,338	23,191	18,330	17,148	18,244	16,956	18,878	18,542	18,252	14,113	13,962	9,925	10,293	11,730	12,277	12,878	15,024	13,857	15,535	15,040	15,176	14,614	14,347	13,936	13,707	11,071	14,964	15,764	12,434	15,623	12,737	12,839	21,969	21,823	27,872	0	0	0
Income taxes, net
56,093	66,289	62,084	50,108	77,128	73,525	66,423	66,912	47,251	35,232	45,280	88,175	81,223	87,539	125,455	129,998	152,440	159,822	139,960	115,449	90,550	80,056	69,263	54,919	50,675	40,529	29,680	20,992	19,372	18,059	8,601	3,824	-2,319	-2,018	677	0	0	0
Non-cash activity
Transfer from Leased railcars for syndication and Inventories to Equipment on operating leases, net
56,775	85,167	43,845	0	0	0	-	-	-	-	8,668	36,227	33,632	47,679	73,165	45,535	45,615	31,568	3,313	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Capital expenditures accrued in Accounts payable and accrued liabilities
10,810	19,301	19,385	26,121	12,598	5,666	13,534	13,712	24,110	25,538	16,145	9,180	6,761	7,924	8,408	9,983	10,737	11,732	8,758	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in Accounts payable and accrued liabilities associated with dividends declared
-127	210	19	-14	-65	1,476	-72	0	0	0	-	-	-	-	-331	-52	17	1,876	301	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Conversion of unconsolidated affiliate note receivable to Investment in unconsolidated affiliates
0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in Accounts payable and accrued liabilities associated with cash distributions to joint venture partner
0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Transfer of Inventories to Leased railcars for syndication
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-