Gogo Inc. GOGO Cash Flow

Gogo inc. (GOGO)

CashFlow / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11
Operating activities:
Net loss
-146,004	-162,031	-171,995	-124,505	-	-	-	-	-
Net loss
-	-	-	-	-107,613	-84,538	-111,289	-32,714	23,615
Adjustments to reconcile net loss to cash provided by (used in) operating activities:
Depreciation and amortization
118,817	133,617	145,490	105,642	87,036	64,451	55,509	36,907	32,673
Loss on asset disposals, abandonments and write-downs
-13,851	-13,352	-8,960	-4,583	-3,044	-3,389	-1,058	-1,592	-1,155
Gain on transition to airline-directed model
-	21,551	-	-	-	-	-	-	-
Deferred income taxes
178	-3,821	-2,281	839	827	828	821	803	936
Stock-based compensation expense
16,511	16,912	19,821	17,621	15,299	9,816	5,621	3,545	1,795
Amortization of deferred financing costs
5,260	4,280	3,743	3,803	4,169	3,173	2,832	804	-
Accretion and amortization of debt discount and premium
-14,711	-18,255	-18,286	-17,496	-12,555	-	-	-	-
Loss on extinguishment of debt
-57,962	-19,653	-	-15,406	-	-	-	-	-
Adjustment of deferred financing costs
-	-	-	-792	2,251	-	-	-	-
Write off of deferred financing costs
-	-	-	-	-	-	-	5,023	-
Fair value derivative adjustment
-	-	-	-	-	-	-36,305	9,640	58,740
Changes in operating assets and liabilities:
Accounts receivable
-29,898	17,064	43,798	4,265	21,563	23,035	1,015	3,288	6,258
Inventories
-29,092	50,762	-4,723	29,329	-976	8,267	1,497	3,026	3,274
Prepaid expenses and other current assets
630	3,106	-4,990	14,473	-2,717	-2,070	1,378	1,032	1,742
Contract assets
21,863	30,485	-	-	-	-	-	-	-
Canadian ATG license payments
-	-	-	-	-	-	-	3,236	174
Deposits on satellite services
-	-	-	-	-	-	-4,774	-	-
Accounts payable
-4,111	-3,864	3,402	-3,118	-4,307	8,336	2,281	2,561	1,433
Accrued liabilities
-11,452	13,281	24,941	4,982	25,366	-1,823	10,865	5,919	6,246
Deferred airborne lease incentives
-3,645	-7,705	20,407	14,652	36,895	30,199	10,217	18,165	11,030
Deferred revenue
-4,971	-1,021	21,477	26,981	-	-	-	-	-
Deferred revenue
-	-	-	-	23,895	7,326	6,685	3,212	1,461
Deferred rent
-	-	-	-	21,206	13,290	-23	539	-
Accrued airline revenue share
-	-	-	-	-	3,315	3,697	3,416	13
Accrued interest
-29,646	-955	7,213	35,825	4,508	7	26	-	-
Warranty reserves
3,875	8,009	-152	742	-	-	-	-	-
Other non-current assets and liabilities
3,772	7,305	4,971	7,102	2,405	-435	-1,849	-502	238
Net cash used in operating activities
-	-	-	-	104,856	28,972	17,790	30,052	-
Net cash provided by (used in) operating activities
64,061	-82,311	60,256	64,988	-	-	-	-	9,931
Investing activities:
Proceeds from the sale of property and equipment
-	-	-	-	-	32	226	860	-
Purchases of property and equipment
100,123	108,632	252,375	148,294	135,201	132,098	105,228	67,449	33,200
Acquisition of intangible assets—capitalized software
15,355	23,031	27,855	28,587	17,947	17,465	16,141	12,007	-
Purchases of short-term investments
-	39,323	317,418	363,436	369,402	119,924	-	-	-
Redemptions of short-term investments
39,323	212,792	443,103	244,450	229,852	39,983	-	-	-
Other, net
-2,446	-	2,850	-84	117	-	-	-	-
Net cash provided by (used in) investing activities
-73,709	41,806	-157,395	-295,783	-	-	-	-	-41,376
Financing activities:
Acquisition of intangible assets
-	-	-	-	-	-	-	-	9,878
Acquisition of Airfone, includes $1.0 million in restricted cash at December 31, 2013
-	-	-	-	-	-	9,344	-	-
(Decrease) increase in restricted cash
-	-	-	-	-	2,500	4,565	257	-1,702
Net cash used in investing activities
-	-	-	-	-292,815	-231,972	-135,052	-78,853	-
Proceeds from issuance of senior secured notes
920,683	-	181,754	525,000	-	-	-	-	-
Redemption of senior secured notes
741,360	-	-	-	-	-	-	-	-
Proceeds from issuance of preferred stock
-	-	-	-	-	-	-	-	55,386
Payment of debt, including capital leases
-	-	-	-	-	-	6,326	2,339	42
Proceeds from issuance of convertible notes
-	237,750	-	-	361,940	-	-	-	-
Repurchase of convertible notes
159,502	200,438	-	-	-	-	-	-	-
Payments on amended and restated credit agreement
-	-	-	310,132	8,749	7,079	-	-	-
Forward transactions
-	-	-	-	140,000	-	-	-	-
Proceeds from credit facilities
-	-	-	-	-	75,000	113,000	135,000	520
Payment of debt issuance costs
22,976	8,054	3,630	11,474	12,608	1,500	6,975	9,630	-
Payments on financing leases
713	2,340	2,961	2,612	1,995	1,491	-	-	-
Stock-based compensation activity
325	396	-227	271	4,633	3,065	-	-	-
Other
-	-	-	-	-	-	-	-	57
Net cash provided by (used in) financing activities
-3,543	27,314	174,936	201,053	-	-	-	-	55,153
Proceeds from initial public offering, net of underwriter commissions
-	-	-	-	-	-	173,910	-	-
Payment of additional offering costs
-	-	-	-	-	-	3,858	-	-
Payment of additional offering costs
-	-	-	-	-	-	-	4,255	768
Stock-based award activities
-	-	-	-	-	-	1,305	-	-
Net cash provided by (used in) financing activities
-	-	-	-	203,221	67,995	271,056	118,776	-
Effect of exchange rate changes on cash
-250	578	743	-522	-	-	-	-	-
Increase in cash, cash equivalents and restricted cash
-13,441	-12,613	78,540	-30,264	-	-	-	-	-
Effect of exchange rate changes on cash
-	-	-	-	785	-42	-28	10	-
Increase (decrease) in cash and cash equivalents
-	-	-	-	16,047	-135,047	153,766	69,985	23,708
Supplemental Cash Flow Information:
Cash paid for interest
140,833	101,489	86,359	27,535	-	-	-	-	-
Cash paid for interest
-	-	-	-	38,677	29,736	24,751	8,350	244
Cash paid for taxes
490	401	103	305	446	414	261	208	74
Noncash Investing and Financing Activities:
Purchases of property and equipment in current liabilities
11,176	18,640	53,682	39,492	29,305	30,404	15,460	18,832	6,863
Purchases of property and equipment paid by commercial airlines
19,287	7,474	23,762	13,804	10,163	5,558	5,840	4,326	1,110
Purchases of property and equipment under capital leases
-	-	-	2,177	1,395	3,125	4,081	265	366
Acquisition of intangible assets in current liabilities
-	-	-	1,623	1,549	1,511	2,319	2,731	2,790
Asset retirement obligation
-	-	-	11	1,181	1,518	1,454	293	147
Class A and Class B senior convertible preferred stock return
-	-	-	-	-	-	29,277	52,427	31,331
Accretion of preferred stock
-	-	-	-	-	-	5,285	10,499	10,181
Equity financing costs included in current liabilities
-	-	-	-	-	-	-	-	554