Global partners lp (GLP)
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

3,075

-880

14,893

14,371

6,794

52,170

-14,464

6,022

58,675

18,161

14,460

1,991

22,505

-65,662

-156,583

-8,543

-7,835

-2,905

8,146

7,614

30,409

28,482

43,622

-12,278

57,154

33,029

25,136

5,204

-22,316

22,735

6,893

18,515

-1,400

10,049

1,858

-848

8,293

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization

25,775

26,648

27,234

26,105

28,205

27,428

27,586

25,342

26,482

26,229

26,510

26,549

26,364

25,468

28,525

29,280

28,669

29,802

30,809

26,768

28,472

23,611

21,578

21,469

19,706

21,600

20,801

18,644

16,089

12,795

11,266

12,181

9,216

7,634

7,619

7,601

7,505

Amortization of deferred financing fees

1,261

1,261

1,223

1,211

1,343

1,343

1,343

1,343

1,343

1,349

1,340

1,420

1,535

1,552

1,519

1,519

1,429

1,486

1,486

1,468

1,459

1,440

1,620

1,284

1,283

1,835

1,744

1,747

1,571

1,647

1,396

1,396

1,314

1,273

1,246

1,107

1,097

Amortization of leasehold interests, ASC 842

-

-

-

-

-

73

73

72

109

69

34

218

310

313

313

313

313

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of senior notes discount

-

0

129

389

384

380

377

374

370

366

363

360

356

354

349

347

343

340

338

232

179

124

225

105

105

105

105

105

53

-

-

-

-

-

-

-

-

Bad debt expense

223

43

178

130

209

163

-25

138

312

-411

-233

103

752

181

0

0

50

475

409

253

35

704

640

106

250

1,115

638

439

1,953

599

90

90

90

90

90

90

1,590

Unit-based compensation expense

288

300

76

795

795

-775

1,228

1,048

1,237

1,340

790

742

-117

1,051

944

1,075

1,075

1,073

1,063

1,127

945

900

884

850

851

851

851

0

104

26

26

26

-72

28

56

204

73

Write-off of financing fees

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1,828

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on trustee taxes

-

-

-

-

-

0

0

-27

-52,600

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net (gain) loss on sale and disposition of assets

-743

2,478

-323

1,128

-553

-40

-940

-3,033

-1,867

-5,667

-2,190

-2,381

11,862

-6,529

-7,486

-375

-6,105

-

-

-

-437

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on asset sales

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-663

-

-

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities, excluding net assets acquired:
Accounts receivable

-222,995

77,486

-37,975

-29,641

69,108

-72,597

-15,713

5,706

706

85,913

69,800

-51,305

-108,294

140,533

-77,134

49,783

-2,945

-64,990

1,245

-38,785

-52,186

-70,713

-15,909

-98,442

-41,898

61,678

41,890

-257,385

145,293

16,923

230,581

-92,481

-97,863

183,429

22,631

-63,713

-71,883

Accounts receivable - affiliate

2,303

391

2,701

-142

-562

125

1,253

366

-82

-1,874

1,801

889

-186

808

-1,527

380

904

-2,647

-50

1,430

-58

492

1,472

301

234

-92

96

45

48

30

489

-19

-969

500

-31

211

-134

Inventories

-235,979

57,066

-32,285

-38,569

78,578

-94,759

136,544

-54,294

42,287

67,295

-89,700

-63,383

-87,379

84,115

-3,269

41,122

13,920

5,074

-45,214

57,174

15,614

-118,896

-34,812

30,043

-112,328

175,394

57,349

-88,300

-206,435

40,941

89,640

-167,774

-3,705

65,326

-36,891

17,388

31,490

Broker margin deposits

-13,331

9,750

4,762

11

5,177

-460

8,355

-7,420

4,610

-2,773

3,041

-9,473

-8,767

8,972

-20,682

508

7,528

5,665

6,672

-14,747

16,539

6,406

-9,383

4,982

-6,599

-18,902

18,740

-6,475

-26,297

24,454

678

-7,381

-6,960

5,573

2,305

21,490

-934

Prepaid expenses, all other current assets and other assets

27,813

-13,793

6,840

-6,694

-766

9,137

1,165

-360

5,970

-5,726

-18,461

21,844

16,017

-9,213

3,949

-7,675

9,952

5,629

-14,406

6,408

-10,157

24,566

6,578

6,460

11,416

7,363

-2,974

-4,461

-11,154

8,713

4,599

-6,310

1,447

1,413

-5,787

27,295

6,599

Accounts payable

-227,688

63,018

27,241

-60,071

34,219

-27,551

79,762

-15,030

-41,614

71,688

45,989

-36,390

-88,137

89,021

-54,637

31,008

-47,982

-8,931

-17,524

24,783

-170,646

-89,130

31,913

-85,207

-182,076

166,026

11,478

-343,940

185,103

55,239

297,022

-56,201

-149,113

213,076

40,806

-15,310

-106,265

Trustee taxes payable

-6,850

7,295

-4,569

748

-3,155

4,879

-5,965

5,739

-19,734

12,464

-4,473

3,375

-2,211

17,283

-12,481

8,359

-7,259

14,615

-13,038

3,874

-21,099

23,611

-13,025

14,241

701

4,325

102

-3,206

-12,499

12,517

-5,937

-8,693

7,115

10,739

-3,794

-3,180

2,930

Change in derivatives

76,645

-9,424

4,802

1,360

-26,768

28,559

-4,704

716

7,193

-4,110

-7,776

4,284

5,256

-6,102

-5,430

-11,972

-16,714

9,395

23,706

-8,111

-16,121

11,066

-8,651

32,346

-17,252

9,694

6,139

-22,282

671

-15,605

22,154

-6,669

9,965

-3,268

6,846

2,361

5,019

Accrued expenses, all other current liabilities and other long-term liabilities

-24,454

10,080

11,411

-3,204

-31,617

23,862

5,955

4,121

-19,450

13,753

23,440

-6,104

-15,283

27,759

6,798

-209

-17,607

-7,387

11,115

-6,452

-30,475

25,855

13,507

-603

-11,918

6,777

-12,578

-12,110

14,846

10,644

11,397

10,134

-6,998

-716

-6,303

16,050

-5,032

Net cash provided by operating activities

137,917

-15,123

143,017

53,545

-87,037

214,758

-29,676

87,488

-103,714

-13,999

152,514

92,362

117,565

-134,046

74,143

-6,467

-53,516

67,898

51,840

56,683

-113,915

150,901

144,367

-3,512

53,146

1,035

-73,600

44,934

282,778

42,752

-26,600

258,063

-41,763

-10,578

52,505

682

-59,966

Cash flows from investing activities
Acquisitions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-587

156,279

405,478

-

-

-

-

0

11

-30

185,281

6,850

0

-2,607

184,505

-

-

-

-

Capital expenditures

11,690

30,370

22,520

19,745

10,229

25,713

16,293

17,611

9,557

18,220

12,338

10,930

8,378

16,541

15,892

22,395

16,451

36,406

23,356

19,118

14,045

21,523

29,331

31,185

13,075

20,197

16,866

17,811

12,258

13,965

11,177

14,546

5,184

8,486

3,041

2,251

2,179

Seller note issuances

539

770

0

0

640

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of property and equipment

1,189

5,066

1,941

5,825

4,228

3,481

7,689

6,441

800

2,983

1,566

3,989

24,249

18,809

47,235

3,094

8,588

1,783

1,297

207

1,044

616

0

1,659

1,746

3,418

3,356

2,013

400

-

-

-

-

-

-

-

-

Net cash used in investing activities

-11,040

-26,074

-20,579

-13,920

-6,641

-22,303

-183,490

-11,170

-8,757

-59,802

-10,772

-6,941

15,871

2,268

31,343

-19,301

-7,863

-34,623

-21,472

-175,190

-418,479

-20,907

-29,331

-29,526

-11,329

-16,779

-13,521

-15,768

-197,139

-20,293

-4,571

-11,935

-189,689

-6,853

-3,041

-1,296

-2,179

Cash flows from financing activities
Net borrowings from (payments on) working capital revolving credit facility

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

87,100

-

-13,300

-7,200

175,400

-102,000

-105,000

200

-20,200

26,700

88,800

10,000

-223,000

-381,400

25,000

0

192,000

-

-

-

-

Net borrowings from (payments on) revolving credit facility

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6,100

-

0

-249,400

383,600

-

-

-

-

35,000

25,000

-25,000

-22,300

378,800

17,400

-232,900

53,700

-15,000

15,000

-101,300

6,300

Proceeds from issuance of term loan

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

115,000

-

-

-

-

-

-

-

-

Net (payments on) borrowings from credit facility

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-700

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from senior notes, net of discount

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

80,000

0

0

67,900

-

-

-

-

-

-

-

-

Repurchase of common units

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

1,450

0

2,442

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

LTIP units withheld for tax obligations

25

11

614

24

8

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of common units, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-40

69,666

Repurchased Units Withheld for Tax Obligations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

96

0

0

0

675

Noncontrolling interest capital contribution

400

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

357

0

680

0

1,880

-200

4,200

1,800

2,400

-

-

-

-

-

-

-

-

-

-

-

-

Distribution to noncontrolling interest

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

1,203

595

1,000

680

1,720

1,880

800

4,200

1,800

2,400

-

-

-

-

-

-

-

-

-

-

-

-

Distributions to partners

19,905

19,230

19,006

19,393

18,997

18,156

16,325

15,829

15,694

15,690

15,693

15,639

15,638

15,630

15,737

15,523

15,630

26,337

26,040

22,761

22,357

19,136

18,636

18,217

17,770

17,328

16,953

16,770

16,278

14,955

14,717

13,977

11,018

11,013

11,107

11,020

9,660

Net cash (used in) provided by financing activities

-84,530

47,459

-127,104

-37,817

94,195

-196,785

218,135

-80,529

109,306

77,804

-136,809

-93,625

-129,338

126,863

-99,137

17,293

77,332

-32,924

-40,790

123,349

533,501

-130,301

-126,235

36,718

-37,970

9,893

92,516

-32,431

-78,678

-17,555

27,683

-249,029

234,586

10,887

-46,115

2,290

65,631

Cash and cash equivalents
Increase (decrease) in cash and cash equivalents

42,347

6,262

-4,666

1,808

517

-4,330

4,969

-4,211

-3,165

4,003

4,933

-8,204

4,098

-4,915

6,349

-8,475

15,953

351

-10,422

4,842

1,107

-307

-11,199

3,680

3,847

-5,851

5,395

-3,265

6,961

4,904

-3,488

-2,901

3,134

-6,544

3,349

1,676

3,486

Supplemental information
Cash paid during the period for interest

18,526

27,606

4,991

16,648

18,191

29,580

5,746

15,493

16,344

25,620

14,280

5,347

17,265

14,564

26,532

5,784

17,232

17,709

16,938

6,257

18,860

4,607

4,817

12,543

9,587

-

-

7,368

8,176

-

9,159

9,319

9,242

-

7,975

8,181

7,749

Non-cash conversion of subordinated unitholders

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

1,623

Revolving Credit Facility [Member]
Net (payments on) borrowings from credit facility

50,000

-4,300

-15,000

-5,000

-3,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Working Capital Facility [Member]
Net (payments on) borrowings from credit facility

-115,000

71,000

-103,200

-13,400

116,200

-154,400

109,700

-53,700

125,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-