Griffon corporation (GFF)
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'10
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income (Loss) Attributable to Parent

895

10,612

16,095

13,595

-1,156

8,753

-1,418

5,827

90,280

30,989

-11,951

9,554

5,045

12,264

5,531

7,596

6,095

10,788

10,803

10,893

5,122

7,471

7,948

14,464

-25,825

3,236

425

3,603

-819

558

3,448

9,050

2,026

2,487

3,378

4,872

-14,001

-1,680

Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent

-

-

-

-

-

-

-2,449

-1,615

88,329

8,158

-16,288

5,102

3,095

5,220

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

15,719

15,825

15,676

15,595

15,492

15,085

15,485

14,047

13,313

12,958

11,522

12,221

12,147

11,988

-5,537

17,677

17,118

17,084

-6,067

17,448

17,193

17,260

17,369

16,795

16,439

16,793

17,961

17,749

17,681

17,357

17,596

16,832

16,321

15,515

15,634

15,700

15,553

13,825

Fair value write-up of acquired inventory sold

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

3,788

11,364

Share-based Payment Arrangement, Noncash Expense

5,152

3,150

3,598

2,187

4,567

2,933

2,706

2,452

2,365

2,555

890

2,405

2,343

2,452

1,704

2,877

2,489

3,066

2,807

2,931

2,795

2,577

3,340

3,137

3,321

1,675

3,168

3,029

3,338

2,960

2,840

2,691

2,651

2,257

2,189

2,120

2,624

2,023

Asset impairment charges - restructuring

228

4,160

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

22

60

109

-

-

-

-

-

-

-

-

-

-

-

-

Provision for losses on accounts receivable

561

35

229

-10

158

158

47

250

19

-220

341

-74

-108

112

1

337

37

-24

-61

-121

86

156

-61

288

-53

185

989

384

234

206

937

-79

42

569

491

25

443

266

Amortization of debt discounts and issuance costs

994

1,273

1,260

1,292

1,612

1,229

1,238

1,227

1,511

1,243

806

826

987

1,892

2,050

1,887

1,713

1,671

2,088

1,629

1,631

1,634

1,638

1,601

1,582

1,606

1,581

1,549

1,563

1,539

1,526

1,476

1,516

1,505

1,530

1,526

1,832

1,845

Deferred income taxes

210

198

-1,869

512

515

-1,380

6,979

-1,476

50

-23,186

666

5,534

-3,663

-196

4,795

-288

-1,226

2,763

2,563

-171

-219

1,501

-4,817

-257

182

-239

5,972

-305

-1,050

458

-1,442

-378

-666

-141

801

-1,011

43

-2,582

Gain on sale of assets and investments

88

186

68

-26

46

91

-

-

-

-209

28

19

79

0

79

-15

178

77

21

2

486

-171

-166

102

-127

-53

-290

-13

68

733

3

-30

-73

44

11

-140

380

0

(Increase) decrease in accounts receivable and contract costs and recognized income not yet billed

64,757

-2,942

-41,502

-14,446

84,850

-37,181

-18,971

-341

55,540

-38,909

26,686

-23,999

35,111

-18,667

17,496

-25,314

37,645

6,106

-7,398

-38,401

48,248

-24,824

1,434

-54,277

59,669

-12,835

-23,343

-6,150

87,002

529

-16,411

-25,249

22,715

-8,067

31,836

-39,032

67,741

-29,952

Increase in inventories

1,478

19,480

6,929

-19,843

3,894

33,958

2,648

1,179

20,222

28,073

-101

19,851

-4,114

13,663

-1,471

2,985

-26,697

9,080

5,121

-2,769

6,594

32,658

17,266

9,337

-10,057

33,915

9,701

-36,498

-9,890

9,800

-13,182

-12,832

-13,315

30,318

-7,191

5,289

-9,611

24,316

(Increase) decrease in prepaid and other assets

3,736

2,269

364

6,244

-2,767

444

-192

5,090

-11,072

8,459

5,324

-1,258

-1,412

2,127

404

354

-1,904

-316

1,423

1,350

-2,931

2,177

839

6,921

-5,110

1,628

-3,788

-2,479

3,214

-3,625

-689

4,875

-901

-4

-11,308

4,818

-6,425

3,850

Decrease in accounts payable, accrued liabilities, income taxes payable and operating lease liabilities

-20,347

-36,445

30,326

6,257

677

-29,622

15,166

16,933

3,952

-24,973

35,756

7,007

2,201

-27,423

37,656

9,805

-4,308

-38,324

12,793

380

-10,193

-30,051

37,058

2,959

8,819

-27,532

29,419

-35,847

57,245

-50,165

3,206

-30,092

-4,900

-14,582

8,471

-6,961

6,610

-50,724

Other changes, net

1,456

-2,016

636

-1,956

-465

-1,197

-4,334

-6,554

-292

-552

-1,368

-1,871

702

-1,536

-908

-1,056

-1,518

-519

1,494

170

-981

-1,242

-343

494

-663

-543

-1,677

-1,235

2,401

-2,022

-1,393

181

-3,071

-838

-3,184

-3,418

2,855

-62

Net cash used in operating activities

-42,674

-18,169

98,976

69,988

-56,047

1,041

63,655

41,637

-41,446

-5,654

23,749

39,629

-14,509

282

20,371

62,963

14,188

-17,404

2,270

72,637

-35,001

-8,050

43,445

76,432

-297

-26,279

83,129

36,537

-1,481

-32,502

59,783

32,555

11,635

-13,843

22,330

48,754

-11,884

-23,815

CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of property, plant and equipment

9,347

13,172

17,567

10,376

9,021

8,397

16,990

11,520

10,843

10,785

12,362

7,037

7,848

7,690

-3,971

17,295

20,934

25,018

-9,057

15,652

20,792

18,921

22,235

20,014

16,929

17,916

18,555

14,891

13,707

17,288

11,156

17,490

20,313

19,892

22,643

23,237

23,807

17,930

Acquired businesses, net of cash acquired

0

10,531

0

0

0

9,219

1,387

183,315

47,547

198,683

28,668

0

0

6,051

2,726

0

1,744

0

0

2,225

0

0

0

39,525

1,000

21,781

-

-

-

-

0

0

0

22,432

0

0

0

855

Acquired businesses, net of cash acquired

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

2,726

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in funds restricted for capital projects

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-754

0

-2,592

-1,283

Change in equipment lease deposits

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-790

1,141

Proceeds from sale of assets

106

184

176

42

11

51

181

28

15

439

-3

44

16

86

-144

46

384

484

-72

98

70

107

61

197

70

224

247

110

161

1,055

28

86

134

61

177

0

1,333

0

Investment purchase

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-715

0

0

-8,891

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-9,241

-23,519

-17,391

-19,834

-19,763

-17,565

-17,446

-194,807

423,856

-209,029

-42,857

-6,993

-7,832

-13,655

3,827

-17,249

-22,294

-26,545

8,985

-17,779

-11,831

-18,814

-22,174

-67,744

-17,859

-39,473

-18,308

-14,781

-13,546

-16,233

-11,128

-17,404

-20,179

-42,263

-21,712

-22,886

-19,092

-18,643

CASH FLOWS FROM FINANCING ACTIVITIES:
Dividends paid

3,957

3,392

3,414

3,415

3,704

3,143

2,981

40,944

2,882

2,990

2,559

2,629

2,638

2,499

2,112

2,178

2,227

2,281

1,847

1,896

2,001

1,910

1,432

1,551

1,571

1,719

1,441

1,446

1,474

1,464

1,179

1,190

1,190

1,184

-

0

0

0

Purchase of shares for treasury

5,721

1,758

0

0

130

1,348

17

12,727

28,529

4,332

45

38

685

15,073

14,536

17,131

22,730

10,910

24,125

20,641

24,407

13,170

7,096

9,148

8,181

55,189

6,832

3,580

14,773

7,336

4,712

3,320

-1

2,351

18,139

0

0

0

Proceeds from long-term debt

989,386

71,957

44,948

13,699

104,136

38,965

23,413

71,747

21,804

326,094

22,346

15,442

156,599

39,056

39,113

123,645

59,730

79,874

81,693

21,967

89,277

10,279

9,030

38,399

586,879

57,635

0

0

0

303

0

0

4,000

0

33,288

3,226

589,763

47,974

Payments of long-term debt

907,026

32,045

109,988

60,091

43,847

4,322

38,962

32,090

176,968

52,973

22,725

27,563

112,871

7,295

30,541

131,650

22,197

24,126

107,240

51,070

18,130

11,295

960

15,824

561,064

25,246

4,025

7,442

1,338

4,062

3,983

4,165

3,572

6,826

3,363

-3,562

463,537

35,234

Change in short-term borrowings

-

0

-

-

-

38

-

-

-

35

-

-

-

0

45

146

-44

-147

-

491

629

-1,201

-3,887

-1,770

-5,032

9,940

542

251

514

1,643

-597

2,069

-3,331

0

-

-

-

-

Financing costs

13,155

21

78

67

878

67

122

220

59

7,392

1,185

28

163

172

249

3,015

1,120

0

296

2

561

29

370

241

10,006

681

-

-

-

-

0

93

0

4

310

104

19,531

1,708

Purchase of ESOP shares

-

-

-

-

-

-

0

0

0

0

0

1,695

0

9,213

-

-

-

-

-

-

-

-

10,000

0

8,409

1,591

-

-

-

-

-

-

-

-

-

-

-

-

Contingent consideration for acquired businesses

0

0

-

-

0

1,686

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Exercise of stock options

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,286

0

0

20

Tax effect from exercise/vesting of equity awards, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

3

342

0

0

0

273

0

0

0

150

0

0

0

834

-2,327

2,311

16

7

Other, net

123

-40

17

-280

-54

137

-88

13

42

84

42

75

162

-349

42

-294

104

203

141

111

-7

102

104

50

113

31

133

19

58

184

33

96

-15

-14

323

116

-82

-12

Net cash provided by financing activities

59,650

34,701

-68,881

-50,154

55,485

28,574

-18,613

-14,221

-186,627

258,526

-4,126

-16,436

15,407

4,455

-8,238

-30,477

11,516

42,613

-51,593

-50,954

45,088

-16,882

-14,611

9,915

-6,687

-16,547

-11,697

-12,198

-17,772

-10,582

-10,438

-6,603

-4,107

-9,545

-1,733

12,455

100,341

11,047

CASH FLOWS FROM DISCONTINUED OPERATIONS:
Net cash used in operating activities

-1,388

-606

1,751

-436

-2,980

-458

-16,654

-13,890

-16,341

1,261

8,326

16,607

15,419

6,841

25,416

-574

-191

-387

44,192

-285

-165

-380

-510

-378

-341

-299

-1,604

-8

-15

-463

-1,111

-926

-487

-277

-133

-268

-194

-367

Net cash used in investing activities

0

0

0

0

0

0

0

0

-2,686

-8,076

-8,516

-9,622

-12,181

-14,756

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in financing activities

0

0

0

0

0

0

0

0

-22,937

396

1,421

-2,103

-1,352

-2,234

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in discontinued operations

-1,388

-606

1,751

-436

-2,980

-458

-16,654

-13,890

-41,964

-6,419

1,231

4,882

1,886

-10,149

-12,453

-574

-191

-387

46,502

-285

-165

-380

-510

-378

-341

-299

-1,604

-8

-15

-463

-1,111

-926

-487

-277

-133

-268

-194

-367

Effect of exchange rate changes on cash and equivalents

-2,115

8

-190

569

-468

402

-4,950

8,591

-1,783

-685

236

941

204

-1,217

430

-329

1,095

-310

-118

-266

-2,055

-1,713

-1,182

-721

-257

-158

506

-368

-329

191

636

-589

659

257

-2,277

162

759

383

NET DECREASE IN CASH AND EQUIVALENTS

4,232

-7,585

14,265

133

-23,773

11,994

5,992

-172,690

152,036

36,739

-21,767

22,023

-4,844

-20,284

3,937

14,334

4,314

-2,033

6,046

3,353

-3,964

-45,839

4,968

17,504

-25,441

-82,756

52,026

9,182

-33,143

-59,589

37,742

7,033

-12,479

-65,671

-3,525

38,217

69,930

-31,395