GTT Communications, Inc. GTT Cash Flow

Gtt communications, inc. (GTT)

CashFlow / Quarterly

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 loss
-83,300	-19,100	-26,200	-33,300	-27,300	-53,000	-23,400	-136,300	-30,700	-49,500	-9,500	600	-13,100	-814	5,127	89	898	27,584	1,763	-11,114	1,067	-7,654	-6,637	978	-9,666	-3,693	-4,290	-10,285	-2,521	-316	-496	-502	-249	-73	441	-576	463
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization
67,500	63,800	61,000	61,200	62,800	64,900	58,500	48,200	39,800	37,900	32,900	31,400	30,400	16,661	14,879	15,662	15,598	14,228	12,630	12,344	7,498	8,010	5,879	5,476	5,556	5,255	5,157	4,350	2,395	2,366	2,202	1,590	1,138	1,171	1,160	889	676
Share-based compensation
8,300	8,000	6,900	7,600	8,700	10,500	9,300	8,700	5,900	6,200	6,100	5,300	4,600	4,904	4,844	4,499	1,553	2,483	1,722	2,336	1,359	603	670	656	489	573	448	291	154	169	149	145	147	243	138	156	161
Debt discount amortization
1,800	1,800	1,700	1,600	1,900	1,600	1,700	400	-200	-100	0	300	200	300	259	18	323	200	0	0	0	0	60	180	180	181	180	144	96	84	80	68	71	86	95	69	66
Loss on debt extinguishment
-2,300	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on debt extinguishment
-	-	-	-	-	-	-	-	-	0	2,900	0	5,700	-32	0	1,632	0	-	-	-	-	-	-	-	-	0	0	0	706	0	0	0	0	-	-	-	-
Amortization of debt issuance costs
1,400	1,300	1,200	1,100	1,200	1,000	1,100	1,100	1,200	1,200	900	1,000	700	312	338	405	445	303	269	263	165	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in fair value of derivative financial liability
33,500	-10,400	6,600	19,900	15,300	21,600	-8,400	98,100	17,200	0	0	0	0	-	-	-	-	-	-	-	-	0	-308	667	-7,216	-4,110	-1,989	-1,565	-994	-30	-344	-4	-694	-	-	-	-
Excess tax benefit from stock-based compensation
-1,000	-1,300	0	-300	-300	-700	1,900	2,300	2,400	-	-	-	5,300	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income taxes
-4,500	-18,300	300	-3,400	1,000	-7,900	3,800	1,400	2,800	34,800	-8,400	-2,300	-7,600	2,200	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in fair value of acquisition earn-out
-	-	-	-	-	-	-	-	100	-	-	-	0	-	-	-	-	-	-	-	-	0	0	0	1,554	678	1,300	0	0	-	-	-	-	-	-	-	-
Non-cash deferred revenue
-	-	-	-	-	-	-	-	-	-	-	-	-11,700	-	-1,652	-1,601	-1,711	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash deferred costs
-	-	-	-	-	-	-	-	-	-	-	-2,900	-900	-	-677	-572	-750	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable, net
-200	-29,600	-49,100	18,700	53,700	-4,100	-1,400	11,100	-10,100	-21,600	6,100	6,800	-5,500	-4,987	11,946	165	7,776	4,062	315	2,785	738	3,329	-1,571	3,568	-361	-3,910	2,184	2,441	-1,200	-669	6	431	-785	1,945	-412	1,636	-862
Prepaid expenses and other current assets
32,500	-2,700	9,000	-8,300	5,400	-13,200	4,500	-19,700	2,300	-	-	-	-	-	-	-	-	-	898	513	1,167	-1,464	426	-66	853	-1,430	1,051	1,036	-38	-342	8	-84	-99	1,608	321	-1,441	807
Prepaid expenses
-	-	-	-	-	-	-	-	-	-	-	-2,200	1,200	-	-56	517	719	8,596	836	-917	-415	1,225	-161	442	-702	1,344	-973	-5,455	-168	693	47	-511	-590	-	-	-	-
Other long-term assets
-9,700	-4,500	200	4,800	-1,800	-27,400	-1,700	12,400	1,800	2,300	-3,200	-700	600	-358	3,448	410	500	11,432	451	-1,081	698	109	1,109	24	354	318	-149	2,472	35	-30	-1,147	1,838	-60	-119	-58	327	-42
Accounts payable
26,200	-51,100	-10,600	22,700	12,100	-23,200	6,000	10,000	-500	-7,000	-6,100	900	-10,500	-3,484	1,796	-10,087	-525	3,647	-4,706	-10,910	3,269	-9,914	-5,518	-1,845	3,042	-6,485	4,219	3,977	-1,107	-1,899	1,305	-3,927	412	3,083	-3,792	3,032	506
Accrued expenses and other current liabilities
3,000	29,400	-27,400	-19,700	-12,100	-20,800	-11,200	-18,500	-24,000	-16,400	26,700	-6,400	3,800	-3,495	-1,885	891	-2,611	-2,619	2,243	7,424	-5,248	3,979	1,486	-3,360	-5,784	3,903	-5,564	-1,440	-258	824	-834	591	-1,963	-2,699	1,984	-732	-1,677
Operating lease liabilities
2,100	-1,900	1,500	-6,300	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred revenue
9,700	-11,500	-10,100	-15,200	2,600	-3,000	-2,800	-3,300	-5,100	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other long-term liabilities
-4,900	200	800	-6,200	6,900	-5,400	-9,100	-1,100	2,100	400	-12,600	2,000	500	-7,009	4,366	2,117	526	11,639	-1,369	2,984	-54	840	19	29	356	-972	-2,803	1,867	608	407	-154	1,015	-624	28	-120	-1,572	-213
Net cash provided by operating activities
41,500	30,300	45,600	15,100	16,100	31,700	22,200	16,300	12,200	16,300	20,900	23,900	2,300	27,633	13,411	13,105	6,251	4,717	10,502	3,513	5,868	-7,251	498	-2,521	2,799	8,497	-1,477	-25	2,438	1,861	3,682	-2,690	1,160	-1,420	-281	1,594	79
Cash flows from investing activities:
Acquisition of businesses, net of cash acquired
0	52,100	0	0	500	35,300	0	2,173,800	33,600	53,500	100,300	39,400	513,100	-46	395	0	13,751	169,303	0	131,397	0	-	-	-	-	0	0	48,339	3,545	340	1,493	12,000	0	-	-	-	-
Purchase of customer contracts
-	-	-	-	-	-	-	-	-	0	0	11,000	3,900	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in restricted cash and cash equivalents
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of property and equipment
22,000	24,900	26,000	19,200	32,100	16,300	28,900	19,300	13,200	15,100	9,100	9,300	8,500	6,387	5,525	4,771	7,517	4,258	3,534	2,875	3,433	2,761	413	926	1,719	1,725	1,330	201	797	154	1,470	114	101	50	174	232	74
Purchases of intangible assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-6,000	0	6,000	0	-	-	-	-	-	-	-	-	2,540	0	0	1,502	0	1,723	0	0	-	-	-	-
Net cash used in investing activities
-22,000	-77,000	-26,000	-19,400	-32,600	-51,700	-28,900	-2,298,900	-46,800	-70,100	-109,400	-59,700	-525,500	-20,341	-5,920	-10,771	-21,268	-173,561	-3,534	-134,272	-3,433	-32,628	-6,393	-2,773	-1,719	-4,265	-1,330	-48,540	-5,844	-494	-4,686	-12,114	-101	-50	-1,174	-14,836	-74
Cash flows from financing activities:
Proceeds from line of credit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	2,000	1,000	0	3,000	-3,000	3,000	-1,500	1,500	-3,900	800	-1,400	1,000	2,000	-838
Repayment of promissory note
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	237	0	236	0	236	0	0	150	94
Proceeds from revolving line of credit
55,000	119,000	0	0	26,000	89,000	7,500	0	0	-	-	-	-	14,000	3,000	16,000	14,000	5,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of revolving line of credit
130,000	-	-	-	0	-	-	-	-	50,000	0	0	20,000	0	3,000	29,000	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from term loans, net of original issuance discount and costs paid to lenders
131,000	0	0	0	0	-	-	-	-	0	0	0	696,500	50	0	29,850	0	-	-	-	-	-	-	-	-	0	0	65,000	794	0	0	14,500	0	-	-	-	-
Repayment of term loans
6,500	6,500	6,500	6,600	6,500	6,600	6,600	691,200	1,800	1,800	1,700	1,800	427,500	1,050	1,075	1,075	1,000	224,224	2,875	125,125	1,376	1,374	58,500	1,625	1,625	28,544	-25,294	24,045	1,249	1,250	1,250	250	750	753	747	1,333	-500
Repayment of other secured borrowings
2,300	1,800	3,000	2,900	5,100	3,800	4,600	1,300	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from mezzanine debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	1,500	4,500	0	7,151	0	-	-	-	-	-	-	-	-
Payment of holdbacks
0	0	0	3,200	3,300	1,800	1,800	3,700	5,700	6,000	2,400	18,500	1,800	37	4,701	9,863	999	461	2,367	872	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Debt issuance costs paid to third parties
2,300	100	900	200	0	-	-	-	-	4,100	2,200	2,900	24,800	496	0	904	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of finance leases
2,100	200	500	0	600	600	400	1,000	700	600	400	300	300	367	895	354	184	290	610	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Issuance of Plexus note, net of discount
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-153	153
Repayment of subordinate notes payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	22	21	21	21	0	0	0	105	-	-	-	-
Proceeds from issuance of common stock under employee stock purchase plan
400	-1,200	400	700	100	423,800	300	300	100	-500	200	200	100	155	1,045	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	247
Tax withholding related to the vesting of restricted stock
300	100	-100	100	300	4,900	5,900	5,000	5,200	800	900	900	1,400	2,258	1,807	1,099	536	1,483	982	506	529	244	215	290	842	3	117	0	0	-	-	-	-	-	-	-	-
Exercise of stock options
0	0	100	400	400	100	400	600	600	1,100	400	-200	800	732	244	61	163	267	293	147	193	92	141	255	506	5	0	0	38	0	0	3	0	-	-	-	-
Shares issued in offering, net of offering costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	4,561	1,621	0	0	0	0	-	-	-	-
Net cash provided by financing activities
42,900	46,500	-10,300	-11,900	10,700	34,000	-16,200	2,299,200	-12,700	120,500	-7,000	134,600	221,600	310,729	-7,189	3,616	11,444	163,010	-6,541	98,843	-1,712	45,668	22,674	19,350	539	-3,899	1,237	49,646	3,946	-820	14	15,789	-291	-2,198	1,248	14,984	-1,032
Effect of exchange rate changes on cash
2,200	1,400	-2,400	-800	1,200	-6,400	-3,100	2,700	500	-300	-400	-1,100	600	502	-268	-754	-880	777	-135	-750	2,108	1,857	2,293	1,241	-163	555	874	-95	-659	-82	288	-241	202	-46	-198	6	85
Net increase (decrease) in cash, cash equivalents, and restricted cash
64,600	1,200	6,900	-17,000	-4,600	7,600	-26,000	19,300	-46,800	66,400	-95,900	97,700	-301,000	318,523	34	5,196	-4,453	-5,057	292	-32,666	2,831	7,646	19,072	15,297	1,456	888	-696	986	-119	465	-702	744	970	-3,714	-405	1,748	-942
Supplemental disclosure of cash flow information:
Cash paid for interest
32,000	54,800	56,400	33,400	32,000	56,400	41,100	30,000	31,300	8,200	8,200	22,800	8,000	6,406	6,638	6,652	6,604	5,679	2,775	4,148	498	1,422	1,832	2,483	2,239	2,588	2,211	1,443	1,170	1,164	2,000	872	723	1,038	629	300	208
Cash paid for income taxes, net
0	200	600	600	-100	3,400	1,500	200	200	1,100	0	500	100	592	124	75	209	167	-201	475	-41	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Supplemental disclosure of non-cash investing and financing activities:
Fair value of current assets acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fair value of non-current assets acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fair value of current liabilities assumed
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fair value of assets acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-2,819	2,879	-	-	-	-	-	-	-	-
Shares issued in connection with the extinguishment of subordinated notes and accrued interest thereon
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	669	2,211	0	0	0	0	-	-	-	-
Stock Issued During Period, Value, Acquisitions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fair value of shares issued in connection with acquisition
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-