Gulf island fabrication inc (GIFI)
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'11
Cash flows from operating activities:
Net income (loss)

5,905

-34,325

-6,779

-5,248

-3,042

-4,682

-10,949

549

-5,296

-24,278

-3,110

-10,924

-6,454

-3,554

540

5,540

989

-14,667

-12,137

1,357

83

-111

7,586

4,310

3,535

-3,110

3,276

4,279

2,787

-8,090

-10,372

7,592

6,779

1,766

1,559

1,835

-6,964

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

2,220

2,300

2,290

2,422

2,552

2,562

2,480

2,593

2,715

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other amortization, net

13

-

-

-

12

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other amortization, net

-

-

-

-

-

-

-22

-79

-357

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Bad debt expense

-

-

-

-

-

-

-

-

-

-

2

17

0

-

102

290

30

-

0

0

400

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation and amortization

-

-

-

-

-

-

-

-

-

-

2,665

2,776

4,700

-

6,384

6,311

6,567

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6,534

6,541

6,599

6,743

6,735

6,579

6,379

6,341

6,370

6,250

6,126

5,981

5,982

5,783

5,650

5,477

5,159

5,033

5,023

Amortization of deferred revenue

-

-

-

-

-

-

-

-

-

-

-

-

1,552

1,109

1,460

1,494

1,160

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Bad debt expense

-

0

0

6

53

-2,746

2,768

0

8

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Asset impairments

-

16,601

323

0

299

3,085

0

610

750

7,283

0

0

389

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

7,690

(Gain) loss on sale of assets held for sale, net

-

0

0

0

369

4,023

-152

3,853

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(Gain) loss on sale of fixed assets and other assets, net

5

19

0

666

-101

-181

167

-266

12

259

35

-259

0

-167

555

9

360

0

0

10

0

-1

0

0

-85

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes

-

-

-

-

-

-

-

-

-

12,999

1,451

5,749

3,035

2,242

248

-3,355

-544

8,597

4,749

566

149

-1,319

-2,899

-2,222

-1,824

1,613

-1,078

-2,340

-1,983

127

-4,194

2,491

3,424

3,408

2,755

-5,330

50

Stock-based compensation expense

95

-34

462

786

560

661

703

755

676

105

1,053

1,124

459

673

833

891

728

844

710

718

435

222

265

336

316

193

138

156

185

-853

205

225

164

-835

222

234

233

Changes in operating assets and liabilities:
Contracts receivable and retainage, net

-9,917

-4,172

6,926

1,692

-796

-9,173

-227

4,944

1,494

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Contract assets

12,777

1,272

-479

12,627

8,725

15,118

3,716

-1,038

9,136

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Contracts receivable and retainage, net

-

-

-

-

-

-

-

-

-

-

-12,564

17,035

892

-

-12,504

-4,515

-5,268

-

-2,055

-12,910

-28,536

-

17,219

-28,022

-6,075

-

-

-

-

-

-

-

-

-

-

-

-

Contracts in progress

-

-

-

-

-

-

-

-

-

-

11,167

1,263

3,551

-

7,384

-2,619

1,069

-

1,868

-836

-795

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Prepaid subcontractor costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,308

-

-

-

-

-

-

-

-

Prepaid expenses, inventory and other current assets

-1,829

-1,054

-1,290

883

-1,095

1,440

57

1,886

-221

-808

329

743

-1,046

-5,681

-2,446

2,046

-650

980

-1,126

-49

-897

1,522

-1,128

530

-1,276

1,226

-2,932

2,934

-843

-781

620

817

457

1,004

-735

612

-1,211

Accounts payable

9,663

1,706

2,975

18,727

7,542

8,724

4,201

-2,904

494

-3,082

2,128

10,828

-520

897

-6,132

3,157

-10,679

-1,266

-909

-10,024

-14,469

5,997

1,652

-15,068

-18,363

13,137

-14,983

-15,451

33,866

-9,439

29,754

11,428

-2,760

3,018

-2,516

9,279

5,459

Contracts receivable, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

73,656

-17,375

11,254

28,766

-20,708

16,289

-33,662

57,892

19,538

Contract retainage

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

169

154

-976

-3,987

1,794

-399

1,885

2,821

-10,994

Contracts in progress

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-3,128

-4,035

-47,062

34,907

12,015

-1,450

9,565

-9,043

5,193

7,620

-7,298

4,028

-2,433

12,172

Contract liabilities

-

-

-

-

-

-

-

-928

-3,201

-

-4,275

3,880

785

-

-267

-357

604

1,809

-3,956

-3,980

-5,558

-1,054

259

-9,056

-6,389

-7,293

2,326

3,464

10,921

14,617

-13,336

4,142

-26,288

12,578

6,241

16,624

6,705

Contract liabilities

-14,700

-

-

-

-7,611

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred revenue

-

-

-

-

-

-

-

-

-

-

-1,532

3,362

-235

-3,655

-2,027

-2,338

-3,636

7,311

1,971

46

-650

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Inventory

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,285

-51

-423

-263

-250

5

-320

-327

-408

-134

6,214

1

14

96

-307

39

-448

-538

404

182

1,266

161

Deferred revenue

-

-

-

-

-

-

-

-

-

-

-

-

-4,162

-

-210

-7,095

-1,623

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred compensation

-

-

-

-

-

-

-

-

-

-

-

197

196

305

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued employee costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

859

416

-932

-

1,283

640

-974

-499

180

1,828

345

-2,191

-782

280

3,637

-652

-22

372

-1,015

Accrued expenses and other current liabilities

-1,918

-629

638

450

-1,558

-3,984

1,069

-273

-164

-6,103

3,721

1,703

-2,498

-2,556

1,944

1,298

1,471

-2,933

434

-3,128

325

1,198

728

-481

-111

-598

1,176

926

-2,966

849

1,117

363

222

-1,196

1,139

149

990

Noncurrent assets and liabilities, net (including long-term retainage)

235

580

444

284

182

411

-355

-67

-700

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Current income taxes and other

-

-

-

-

-

-

-

-

-

-

-

-33

240

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Current income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

56

49

615

-1,450

1,261

189

-627

836

-111

-83

2,791

691

65

105

-290

-650

-2,273

1,456

-84

-1,820

6,082

-4,601

Net cash provided by (used in) operating activities

7

-434

-3,822

5,593

-8,477

-1,726

7,761

-12,331

-14,096

-9,826

-1,623

-12,852

-15,084

-4,863

7,599

13,408

-1,576

-

-

-

-

-

-

-

-

-

-

-

-

-

6,436

-7,820

3,659

2,918

40,999

-25,889

-6,096

Net cash provided by operating activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-4,517

6,676

16,496

11,795

2,177

20,399

-2,261

24,204

-1,381

32,148

-16,968

-

-

-

-

-

-

-

-

Cash flows from investing activities:
Cash received in acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

1,447

0

0

1,588

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Capital expenditures

2,124

1,800

631

1,109

250

1,119

1,471

820

71

319

2,691

1,433

391

1,380

2,125

2,566

724

966

2,099

1,952

1,001

946

5,378

10,745

10,589

8,830

5,092

3,225

4,206

9,041

9,226

2,831

14,792

8,137

11,090

3,350

18,968

Proceeds from sale of property, plant and equipment

1,080

619

0

1,174

424

27,531

1,270

56,137

309

35

0

2,120

0

645

265

171

5,377

1

0

10

0

-5

9

0

925

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of short-term investments

-

19,918

0

25,325

20,041

436

1,700

7,474

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Maturities of short-term investments

-

25,325

20,261

0

8,500

1,200

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Recoveries from insurance claims

-

-

-

-

-

0

7,197

0

2,165

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Recoveries from insurance claims

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-1,044

4,226

19,630

-25,260

-11,367

27,176

5,296

47,843

2,403

1,260

-2,691

687

-391

712

-1,860

-2,395

6,241

-

-

-

-

-

-

-

-

-

-

-

-

-

-9,226

-2,831

-14,792

-8,137

-11,090

-3,350

-18,968

Net cash provided by (used in) investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-2,099

-1,942

-1,001

-951

-5,369

-10,745

-9,664

-8,279

-5,092

-3,225

-4,206

-

-

-

-

-

-

-

-

Cash flows from financing activities:
Proceeds from borrowings under Credit Agreement

-

-

-

-

-

0

0

0

15,000

0

2,000

0

0

-

-

-

-

-

-

-

-

-

0

7,000

15,000

-

6,000

10,000

16,000

-

-

-

-

-

-

-

-

Repayment of borrowings under Credit Agreement

-

-

-

-

-

0

0

10,000

5,000

0

2,000

0

0

-

-

-

-

-

-

-

-

-

0

7,000

15,000

-

6,000

20,000

6,000

-

-

-

-

-

-

-

-

Payment of financing cost

30

-

-

-

-

-2

33

0

11

62

27

61

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Tax payments for vested stock withholdings

74

0

81

-1

715

15

8

0

787

31

1

4

880

54

17

1

145

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments of dividends on common stock

-

-

-

-

-

-

-

-

-

150

149

150

149

148

145

149

146

1,468

1,467

1,465

1,465

1,466

1,468

1,465

1,466

1,460

1,460

1,459

1,460

1,454

1,455

1,456

1,457

872

871

871

871

Net cash used in financing activities

-104

0

-89

-39

-715

-13

-41

-10,000

9,202

-243

-177

-215

-1,029

-324

-162

-150

-291

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,434

-1,456

-1,457

-686

-790

-825

-871

Net decrease in cash and cash equivalents

-1,141

3,792

15,719

-19,706

-20,559

25,437

13,016

25,512

-2,491

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in financing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,467

-1,465

-1,465

-1,466

-1,468

-1,465

-1,466

-1,147

-1,454

-11,459

8,540

-

-

-

-

-

-

-

-

Net increase (decrease) in cash and cash equivalents

-

-

-

-

-

-

-

-

-

-

-4,491

-12,380

-16,504

-4,475

5,577

10,863

4,374

-10,473

-8,083

3,269

14,030

9,378

-4,660

8,189

-13,391

14,778

-7,927

17,464

-12,634

-1,478

-4,224

-12,107

-12,590

-5,905

29,119

-30,064

-25,935