Globalstar, inc. (GSAT)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Cash flows provided by (used in) operating activities:
Net (loss) income

15,324

-6,516

-89,074

-132,646

72,322

-462,866

-591,116

-112,198

-54,924

-97,467

-74,923

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

95,772

90,438

77,498

77,390

77,247

86,146

90,592

69,801

50,049

27,418

21,862

Change in fair value of derivative assets and liabilities

145,073

81,120

21,182

-41,531

181,860

-286,049

-305,155

6,974

23,839

-29,975

-15,585

Stock-based compensation expense

5,700

6,995

5,088

4,858

2,955

3,400

2,127

793

1,995

878

9,947

Amortization of deferred financing costs

15,896

8,690

8,096

9,165

9,722

10,043

8,792

7,907

3,673

3,355

4,056

Reduction in the value of long-lived assets and inventory

1,540

0

17,883

350

0

21,768

5,794

8,615

12,404

16,014

-

Provision for bad debts

1,747

1,398

1,256

1,256

3,357

2,281

2,321

1,097

1,995

774

824

Loss on equity method investments

-

-

-

-

-

-

-

-

-

-927

-1,928

Noncash interest and accretion expense

21,453

14,541

11,043

11,195

11,103

16,214

44,488

6,525

0

0

-

Contract termination charge

-

-

-

-

-

-

-

22,048

0

0

-

Loss on extinguishment of debt

0

0

-6,306

0

-2,254

-39,846

-109,092

0

0

-

-

Change in fair value related to equity issuance

0

-

-2,670

-2,400

6,663

748

-

-

-

-

-

Loss on equity issuance

-

-

-

-

-

-

17,709

0

0

-

-

Noncash expense related to legal settlement

-

-

-

1,094

0

400

-

-

-

-

-

Reversal of uncertain tax position

-

-

-

-6,317

0

0

-

-

-

-

-

Revision to contract termination charge

0

20,478

0

0

-

-

-

-

-

-

-

Change to estimated impact upon adoption of ASC 606

3,885

0

0

-

-

-

-

-

-

-

-

Discount on shares issued to vendor

-

-

-

-

-

-

-

0

0

-

-

Unrealized foreign currency loss (gain)

192

-3,057

-2,159

-144

3,597

4,059

-1,013

-1,456

-1,001

0

-554

Impairment of long-lived assets and inventory

-

-

-

-

-

-

-

-

-

-

913

Other, net

-598

-919

260

-1,154

11

-545

-1,370

-1,574

-2,937

-161

-

Changes in operating assets and liabilities:
Accounts receivable

4,299

3,792

2,983

2,196

3,454

2,200

4,321

2,875

978

5,201

-1,405

Inventory

1,664

486

-50

-4,571

-1,118

-4,187

-3,124

1,018

-4,252

1,402

-4,057

Prepaid expenses and other current assets

421

7,926

2,504

488

-326

1,339

727

-855

-354

-526

-895

Other assets

-864

3,794

699

469

774

-202

89

-5,427

1,485

4,217

4,704

Accounts payable and accrued expenses

-173

3,979

-1,114

102

702

-1,725

-2,595

3,431

-1,291

-2,798

-

Accounts payable

-

-

-

-

-

-

-

-

-

-

-8,584

Payables to affiliates

-395

431

-84

-307

135

279

-29

-148

-332

163

-2,967

Accrued expenses and employee benefit obligations

-

-

-

-

-

-

-

-

-

-

8,348

Other non-current liabilities

359

-1,394

105

-1,163

1,332

-619

-1,079

-224

-173

1,428

796

Deferred revenue

-103

978

4,943

1,989

2,622

4,681

1,917

782

-1,141

532

1,585

Net cash provided by operating activities

3,048

5,920

13,857

8,813

2,162

3,981

-6,462

6,874

-5,503

-23,338

-18,423

Cash flows used in investing activities:
Second-generation network costs (including interest)

3,342

7,032

11,910

13,170

25,195

14,604

43,693

56,679

85,589

201,124

321,827

Property and equipment additions

4,594

7,349

5,525

9,385

5,523

3,277

1,651

781

2,594

7,286

2,271

Investment in business

-

-

-

0

240

-

-

-

-

-

-

Purchase of intangible assets

3,555

3,020

3,341

1,996

2,520

1,396

0

-

-

-

-

Investment in businesses

-

-

-

-

-

0

634

550

800

1,110

1,823

Change in restricted cash

-

-

-

-

-

0

-8,859

0

10,436

-4,129

-14,229

Net cash used in investing activities

-11,491

-17,401

-20,776

-24,551

-33,478

-19,277

-37,119

-58,010

-99,419

-205,391

-311,692

Cash flows provided by (used in) financing activities:
Proceeds from revolving credit loan, net

-

-

-

-

-

-

-

-

-

-

7,750

Borrowings from Facility Agreement

-

-

-

-

-

-

672

7,375

18,659

188,417

371,219

Principal payments of the Facility Agreement

199,029

77,866

75,755

32,835

6,450

4,046

0

0

-

-

-

Proceeds from the contribution to the debt service reserve account

-

-

-

-

-

-

-

-

-

-

25,000

Payments for interest rate cap instrument

-

-

-

-

-

-

-

-

-

-

12,425

Payments for debt and equity issuance costs

-

-

-

-

-

164

16,909

1,033

1,246

70

63,047

Net proceeds from common stock offering and exercise of warrants

4,282

59,100

114,993

0

0

-

-

-

-

-

1,000

Payments to reduce principal amount of exchanged 5.75% Notes

-

-

-

-

-

-

13,544

0

0

-

-

Payments for 5.75% Notes not exchanged

-

-

-

-

-

-

6,250

0

0

-

-

Payments to lenders and other fees associated with exchange

-

-

-

-

-

-

2,482

0

0

23,256

13,879

Proceeds from Thermo Common Stock Purchase Agreement

0

0

33,000

0

0

-

65,000

0

0

-

-

Payment of debt restructuring fee

0

0

20,795

0

0

-

-

-

-

-

-

Payment of financing costs

6,166

276

654

0

0

-

-

-

-

-

-

Borrowings under short-term loan

-

-

-

-

-

-

-

-

-

-

2,259

Proceeds from contingent equity account

-

-

-

-

-

-

1,071

45,800

14,200

0

-

Proceeds from the issuance of 5.0% convertible notes

-

-

-

-

-

-

-

-

38,000

0

-

Proceeds from Subordinated Loan Agreement

62,000

0

0

-

-

-

-

-

12,500

0

-

Payoff of Subordinated Loan Agreement

62,000

0

0

-

-

-

-

-

-

-

-

Proceeds from Second Lien Term Loan Facility

192,990

0

0

-

-

-

-

-

-

-

-

Proceeds from issuance of stock to Terrapin

0

0

12,000

48,000

39,000

0

6,000

0

-

-

-

Proceeds from issuance of common stock and exercise of options and warrants

0

846

1,001

3,337

726

9,547

15,414

244

525

6,323

-

Net cash used in financing activities

-7,923

-18,196

63,790

18,502

33,276

5,337

48,972

52,386

82,638

194,670

386,756

Effect of exchange rate changes on cash

4

-112

195

55

-1,605

-328

225

591

-782

-805

-1,117

Net increase in cash, cash equivalents and restricted cash

-16,362

-29,789

57,066

2,819

355

-10,287

5,616

1,841

-23,066

-34,864

55,524

Supplemental disclosure of cash flow information:
Cash paid for:
Cash paid for interest

27,353

25,867

24,075

21,783

19,683

20,216

21,413

27,383

19,357

17,193

15,379

Income taxes

45

155

115

171

445

61

116

223

97

111

308

Supplemental disclosure of non-cash financing and investing activities:
Increase in capitalized accrued interest for second-generation network costs

434

2,093

4,317

3,235

2,247

1,684

4,291

2,752

1,529

1,666

7,185

Fair value of warrants issued with Second Lien Term Loan Facility

23,562

0

0

-

-

-

-

-

-

-

-

Increase in accrued second-generation network costs

-

-

-

1,616

0

0

-

-

4,798

37,590

58,055

Conversion of note receivable to equity in investee company

-

-

-

-

-

-

-

-

-

-

7,500

Capitalized accretion of debt discount and amortization of prepaid financing costs

501

1,898

5,089

4,401

3,346

2,708

5,600

15,680

24,200

-

-

Capitalized interest paid in common stock on the 5% and 8% Notes

-

-

-

-

-

-

-

-

-

3,790

-

Payments made in convertible notes and common stock

-

-

-

-

921

3,974

12,056

7,948

6,892

0

-

Fair value of common stock issued to vendor for payment of invoices

-

-

-

-

16,683

10,687

9,227

0

0

-

-

Increase of principal amount of Loan Agreement with Thermo

-

-

-

-

-

-

-

0

0

-

-

Issuance of common stock for legal settlement

0

0

453

1,395

0

0

-

-

-

-

-

Principal amount of Loan Agreement with Thermo converted into common stock

0

0

15,986

0

6,491

76,532

49,757

2,000

1,000

-

180,177

Reduction of debt discount and issuance costs due to conversion of Loan Agreement with Thermo

0

0

1,194

0

2,085

28,249

27,458

0

-

-

-

Fair value of common stock issued upon conversion of Loan Agreement with Thermo

0

0

53,614

0

26,669

271,982

10,227

0

-

-

-

Reduction in derivative liability due to conversion of Loan Agreement with Thermo

0

0

32,000

0

20,008

308,234

10,236

0

-

-

-

Extinguishment of principal amount of 5.75% Notes

-

-

-

-

-

-

71,804

0

0

-

-

Issuance of common stock to exchanging note holders at fair value

-

-

-

-

-

-

12,127

0

0

-

7,257

Reduction in carrying amount of Thermo Loan Agreement due to amendment

-

-

-

-

-

-

35,026

0

0

7,685

-

Conversion of contingent equity account derivative liability to equity

-

-

-

-

-

-

-

5,853

5,955

11,940

-

Value of warrants issued in connection with the contingent equity account loan fee

-

-

-

-

-

-

-

2,226

8,318

9,717

7,809

Recognition of a beneficial conversion feature and contingent put feature on long-term debt

-

-

-

-

-

-

-

-

18,603

0

-

Value of warrants issued in connection with raising capital and debt

-

-

-

-

-

-

-

-

8,081

0

-

Conversion of convertible notes into common stock

-

-

-

-

-

-

-

-

-

6,335

10,738