GULF ISLAND FABRICATION INC GIFI Cash Flow

Gulf island fabrication inc (GIFI)

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	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11
Cash flows from operating activities:
Net income (loss)
-40,447	-49,394	-19,751	-23,921	-18,124	-20,378	-39,974	-32,135	-43,608	-44,766	-24,042	-20,392	-3,928	3,515	-7,598	-20,275	-24,458	-25,364	-10,808	8,915	11,868	15,320	12,321	8,011	7,980	7,232	2,252	-11,396	-8,083	-4,091	5,765	17,696	11,939	-1,804	0	0	0
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and lease asset amortization
9,232	9,564	9,826	10,016	10,187	10,350	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other amortization, net
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other amortization, net
-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Bad debt expense
-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation and amortization
-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	26,417	26,618	26,656	26,436	26,034	25,669	25,340	25,087	24,727	24,339	23,872	23,396	22,892	22,069	21,319	20,692	0	0	0
Amortization of deferred revenue
-	-	-	-	-	-	-	-	-	-	-	-	5,615	5,223	4,114	2,654	1,160	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Bad debt expense
-	59	-2,687	81	75	30	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Asset impairments
-	17,223	3,707	3,384	3,994	4,445	8,643	8,643	8,033	7,672	389	389	389	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7,690	0	0	0
(Gain) loss on sale of assets held for sale, net
-	369	4,392	4,240	8,093	7,724	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
(Gain) loss on sale of fixed assets and other assets, net
690	584	384	551	-381	-268	172	40	47	35	-391	129	397	757	924	369	370	10	9	9	-1	-86	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income taxes
-	-	-	-	-	-	-	-	-	23,234	12,477	11,274	2,170	-1,409	4,946	9,447	13,368	14,061	4,145	-3,503	-6,291	-8,264	-5,332	-3,511	-3,629	-3,788	-5,274	-8,390	-3,559	1,848	5,129	12,078	4,257	883	0	0	0
Stock-based compensation expense
1,309	1,774	2,469	2,710	2,679	2,795	2,239	2,589	2,958	2,741	3,309	3,089	2,856	3,125	3,296	3,173	3,000	2,707	2,085	1,640	1,258	1,139	1,110	983	803	672	-374	-307	-238	-259	-241	-224	-215	-146	0	0	0
Changes in operating assets and liabilities:
Contracts receivable and retainage, net
-5,471	3,650	-1,351	-8,504	-5,252	-2,962	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Contract assets
26,197	22,145	35,991	40,186	26,521	26,932	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Contracts receivable and retainage, net
-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Contracts in progress
-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Prepaid subcontractor costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-
Prepaid expenses, inventory and other current assets
-3,290	-2,556	-62	1,285	2,288	3,162	914	1,186	43	-782	-5,655	-8,430	-7,127	-6,731	-70	1,250	-845	-1,092	-550	-552	27	-352	-648	-2,452	-48	385	-1,622	1,930	-187	1,113	2,898	1,543	1,338	-330	0	0	0
Accounts payable
33,071	30,950	37,968	39,194	17,563	10,515	-1,291	-3,364	10,368	9,354	13,333	5,073	-2,598	-12,757	-14,920	-9,697	-22,878	-26,668	-19,405	-16,844	-21,888	-25,782	-18,642	-35,277	-35,660	16,569	-6,007	38,730	65,609	28,983	41,440	9,170	7,021	15,240	0	0	0
Contracts receivable, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	96,301	1,937	35,601	-9,315	19,811	60,057	0	0	0
Contract retainage
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-4,640	-3,015	-3,568	-707	6,101	-6,687	0	0	0
Contracts in progress
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-19,318	-4,175	-1,590	55,037	11,087	4,265	13,335	-3,528	9,543	1,917	6,469	0	0	0
Contract liabilities
-	-	-	-	-	-	-	0	0	-	0	0	-3,016	-	1,789	-1,900	-5,523	-11,685	-14,548	-10,333	-15,409	-16,240	-22,479	-20,412	-7,892	9,418	31,328	15,666	16,344	-20,865	-22,904	-3,327	9,155	42,148	0	0	0
Contract liabilities
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred revenue
-	-	-	-	-	-	-	-	-	-	-2,060	-2,555	-8,255	-11,656	-690	3,308	5,692	8,678	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Inventory
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	548	-987	-931	-828	-892	-1,050	-1,189	5,345	5,673	6,095	6,325	-196	-158	-620	-1,254	-543	-400	1,314	2,013	0	0	0
Deferred revenue
-	-	-	-	-	-	-	-	-	-	-	-	-14,195	-	-8,928	-8,718	-1,623	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred compensation
-	-	-	-	-	-	-	-	-	-	-	698	501	305	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accrued employee costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	450	-653	535	1,854	162	-800	-2,348	944	2,483	3,243	3,335	-1,317	0	0	0
Accrued expenses and other current liabilities
-1,459	-1,099	-4,454	-4,023	-4,746	-3,352	-5,471	-2,819	-843	-3,177	370	-1,407	-1,812	2,157	1,780	270	-4,156	-5,302	-1,171	-877	1,770	1,334	-462	-14	1,393	-1,462	-15	-74	-637	2,551	506	528	314	1,082	0	0	0
Noncurrent assets and liabilities, net (including long-term retainage)
1,543	1,490	1,321	522	171	-711	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Current income taxes and other
-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Current income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-730	475	615	-627	1,659	287	15	3,433	3,288	3,464	3,652	571	-770	-3,108	-1,757	-1,551	-2,721	5,634	-423	0	0	0
Net cash provided by (used in) operating activities
1,344	-7,140	-8,432	3,151	-14,773	-20,392	-28,492	-37,876	-38,397	-39,385	-34,422	-25,200	1,060	14,568	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	5,193	39,756	21,687	11,932	0	0	0
Net cash provided by operating activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	30,450	37,144	50,867	32,110	44,519	40,961	52,710	38,003	0	0	0	-	-	-	-	-	-	-	-
Cash flows from investing activities:
Cash received in acquisition
-	-	-	-	-	-	-	-	-	-	-	-	-	3,035	1,588	1,588	1,588	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Capital expenditures
5,664	3,790	3,109	3,949	3,660	3,481	2,681	3,901	4,514	4,834	5,895	5,329	6,462	6,795	6,381	6,355	5,741	6,018	5,998	9,277	18,070	27,658	35,542	35,256	27,736	21,353	21,564	25,698	25,304	35,890	34,986	36,850	37,369	41,545	0	0	0
Proceeds from sale of property, plant and equipment
2,873	2,217	29,129	30,399	85,362	85,247	57,751	56,481	2,464	2,155	2,765	3,030	1,081	6,458	5,814	5,549	5,388	11	5	14	4	929	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of short-term investments
-	65,284	45,802	47,502	29,651	9,610	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Maturities of short-term investments
-	54,086	29,961	9,700	9,700	1,200	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Recoveries from insurance claims
-	-	-	-	-	9,362	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Recoveries from insurance claims
-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities
-2,448	-12,771	10,179	-4,155	68,948	82,718	56,802	48,815	1,659	-1,135	-1,683	-852	-3,934	2,698	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-34,986	-36,850	-37,369	-41,545	0	0	0
Net cash provided by (used in) investing activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-5,993	-9,263	-18,066	-26,729	-34,057	-33,780	-26,260	-20,802	0	0	0	-	-	-	-	-	-	-	-
Cash flows from financing activities:
Proceeds from borrowings under Credit Agreement
-	-	-	-	-	15,000	15,000	17,000	17,000	2,000	0	0	0	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-
Repayment of borrowings under Credit Agreement
-	-	-	-	-	15,000	15,000	17,000	7,000	2,000	0	0	0	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-
Payment of financing cost
0	-	-	-	-	42	106	100	161	150	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Tax payments for vested stock withholdings
154	795	810	737	738	810	826	819	823	916	939	955	952	217	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments of dividends on common stock
-	-	-	-	-	-	-	-	-	598	596	592	591	588	1,908	3,230	4,546	5,865	5,863	5,864	5,864	5,865	5,859	5,851	5,845	5,839	5,833	5,828	5,825	5,822	5,240	4,656	4,071	3,485	0	0	0
Net cash used in financing activities
-232	-843	-856	-808	-10,769	-852	-1,082	-1,218	8,567	-1,664	-1,745	-1,730	-1,665	-927	0	0	-4,770	-	-	-	-	-	-	-	-	-	-	-	-	-	-5,033	-4,389	-3,758	-3,172	0	0	0
Net decrease in cash and cash equivalents
-1,336	-20,754	891	-1,812	43,406	61,474	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in financing activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-5,863	-5,864	-5,864	-5,865	-5,546	-5,532	-15,526	-5,520	0	0	4,451	-	-	-	-	-	-	-	-
Net increase (decrease) in cash and cash equivalents
-	-	-	-	-	-	-	-	-	-	-37,850	-27,782	-4,539	16,339	10,341	-3,319	-10,913	-1,257	18,594	22,017	26,937	-484	4,916	1,649	10,924	11,681	-4,575	-872	-30,443	-30,399	-34,826	-1,483	-19,440	-32,785	0	0	0