GTT Communications, Inc. GTT Cash Flow

Gtt communications, inc. (GTT)

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 loss
-161,900	-105,900	-139,800	-137,000	-240,000	-243,400	-239,900	-226,000	-89,100	-71,500	-22,814	-8,187	-8,698	5,300	33,698	30,334	19,131	19,300	-15,938	-24,338	-12,246	-22,979	-19,018	-16,671	-27,934	-20,789	-17,412	-13,618	-3,835	-1,563	-1,320	-383	-457	255	0	0	0
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization
253,500	248,800	249,900	247,400	234,400	211,400	184,400	158,800	142,000	132,600	111,361	93,340	77,602	62,800	60,367	58,118	54,800	46,700	40,482	33,731	26,863	24,921	22,166	21,444	20,318	17,157	14,268	11,313	8,553	7,296	6,101	5,059	4,358	3,896	0	0	0
Share-based compensation
30,800	31,200	33,700	36,100	37,200	34,400	30,100	26,900	23,500	22,200	20,904	19,648	18,847	15,800	13,379	10,257	8,094	7,900	6,020	4,968	3,288	2,418	2,388	2,166	1,801	1,466	1,062	763	617	610	684	673	684	698	0	0	0
Debt discount amortization
6,900	7,000	6,800	6,800	5,600	3,500	1,800	100	0	400	800	1,059	777	900	800	541	523	200	0	60	240	420	601	721	685	601	504	404	328	303	305	320	321	316	0	0	0
Loss on debt extinguishment
-2,300	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on debt extinguishment
-	-	-	-	-	-	-	-	-	8,600	8,568	5,668	7,300	1,600	0	0	0	-	-	-	-	-	-	-	-	706	706	706	706	0	0	0	0	-	-	-	-
Amortization of debt issuance costs
5,000	4,800	4,500	4,400	4,400	4,400	4,600	4,400	4,300	3,800	2,912	2,350	1,755	1,500	1,491	1,422	1,280	1,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in fair value of derivative financial liability
49,600	31,400	63,400	48,400	126,600	128,500	106,900	115,300	17,200	0	0	0	0	-	-	-	-	-	-	-	-	-6,857	-10,967	-12,648	-14,880	-8,658	-4,578	-2,933	-1,372	-1,072	0	0	0	-	-	-	-
Excess tax benefit from stock-based compensation
-2,600	-1,900	-1,300	600	3,200	5,900	0	0	0	-	-	-	5,300	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income taxes
-25,900	-20,400	-10,000	-6,500	-1,700	100	42,800	30,600	26,900	16,500	-16,100	-7,700	-5,400	2,200	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in fair value of acquisition earn-out
-	-	-	-	-	-	-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	1,554	2,232	3,532	3,532	1,978	0	0	0	-	-	-	-	-	-	-	-
Non-cash deferred revenue
-	-	-	-	-	-	-	-	-	-	-	-	-16,889	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash deferred costs
-	-	-	-	-	-	-	-	-	-	-	0	-2,950	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable, net
-60,200	-6,300	19,200	66,900	59,300	-4,500	-22,000	-14,500	-18,800	-14,200	2,413	8,259	1,624	14,900	23,949	12,318	14,938	7,900	7,167	5,281	6,064	4,965	-2,274	1,481	354	-485	2,756	578	-1,432	-1,017	1,597	1,179	2,384	2,307	0	0	0
Prepaid expenses and other current assets
30,500	3,400	-7,100	-11,600	-23,000	-26,100	0	0	0	-	-	-	-	-	-	-	-	-	1,114	642	63	-251	-217	408	1,510	619	1,707	664	-456	-517	1,433	1,746	389	1,295	0	0	0
Prepaid expenses
-	-	-	-	-	-	-	-	-	-	-	0	-4,219	-	9,776	10,668	9,234	8,100	729	-268	1,091	804	923	111	-5,786	-5,252	-5,903	-4,883	61	-361	0	0	0	-	-	-	-
Other long-term assets
-9,200	-1,300	-24,200	-26,100	-18,500	-14,900	14,800	13,300	200	-1,000	-3,658	2,990	4,100	4,000	15,790	12,793	11,302	11,500	177	835	1,940	1,596	1,805	547	2,995	2,676	2,328	1,330	696	601	512	1,601	90	108	0	0	0
Accounts payable
-12,800	-26,900	1,000	17,600	4,900	-7,700	8,500	-3,600	-12,700	-22,700	-19,184	-11,288	-22,275	-12,300	-5,169	-11,671	-12,494	-8,700	-22,261	-23,073	-14,008	-14,235	-10,806	-1,069	4,753	604	5,190	2,276	-5,628	-4,109	873	-4,224	2,735	2,829	0	0	0
Accrued expenses and other current liabilities
-14,700	-29,800	-80,000	-63,800	-62,600	-74,500	-70,100	-32,200	-20,100	7,700	20,605	-7,980	-689	-7,100	-6,224	-2,096	4,437	1,800	8,398	7,641	-3,143	-3,679	-3,755	-10,805	-8,885	-3,359	-6,438	-1,708	323	-1,382	-4,905	-2,087	-3,410	-3,124	0	0	0
Operating lease liabilities
-4,600	-6,700	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred revenue
-27,100	-34,200	-25,700	-18,400	-6,500	-14,200	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other long-term liabilities
-10,100	1,700	-3,900	-13,800	-8,700	-13,500	-7,700	-11,200	-8,100	-9,700	-17,109	-143	-26	0	18,648	12,913	13,780	13,200	2,401	3,789	834	1,244	-568	-3,390	-1,552	-1,300	79	2,728	1,876	644	265	299	-2,288	-1,877	0	0	0
Net cash provided by operating activities
132,500	107,100	108,500	85,100	86,300	82,400	67,000	65,700	73,300	63,400	74,733	67,244	56,449	60,400	37,484	34,575	24,983	24,600	12,632	2,628	-3,406	-6,475	9,273	7,298	9,794	9,433	2,797	7,956	5,291	4,013	732	-3,231	1,053	-28	0	0	0
Cash flows from investing activities:
Acquisition of businesses, net of cash acquired
52,100	52,600	35,800	35,800	2,209,600	2,242,700	2,260,900	2,361,200	226,800	706,300	652,754	552,849	513,449	14,100	183,449	183,054	314,451	300,700	0	0	0	-	-	-	-	51,884	52,224	53,717	17,378	13,833	0	0	0	-	-	-	-
Purchase of customer contracts
-	-	-	-	-	-	-	-	-	14,900	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in restricted cash and cash equivalents
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of property and equipment
92,100	102,200	93,600	96,500	96,600	77,700	76,500	56,700	46,700	42,000	33,287	29,712	25,183	24,200	22,071	20,080	18,184	14,100	12,603	9,482	7,533	5,819	4,783	5,700	4,975	4,053	2,482	2,622	2,535	1,839	1,735	439	557	530	0	0	0
Purchases of intangible assets
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	-	-	-	-	-	-	-	-	4,042	1,502	3,225	3,225	1,723	0	0	0	-	-	-	-
Net cash used in investing activities
-144,400	-155,000	-129,700	-132,600	-2,412,100	-2,426,300	-2,444,700	-2,525,200	-286,000	-764,700	-714,941	-611,461	-562,532	-58,300	-211,520	-209,134	-332,635	-314,800	-173,867	-176,726	-45,227	-43,513	-15,150	-10,087	-55,854	-59,979	-56,208	-59,564	-23,138	-17,395	-16,951	-13,439	-16,161	-16,134	0	0	0
Cash flows from financing activities:
Proceeds from line of credit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,000	3,000	6,000	1,000	3,000	1,500	0	-900	-3,100	-3,000	-3,500	2,400	762	0	0	0
Repayment of promissory note
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	237	237	473	473	472	472	236	386	244	0	0	0
Proceeds from revolving line of credit
174,000	145,000	115,000	122,500	122,500	96,500	0	0	0	-	-	-	-	47,000	38,000	35,000	19,000	5,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of revolving line of credit
0	-	-	-	0	-	-	-	-	70,000	20,000	23,000	52,000	32,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from term loans, net of original issuance discount and costs paid to lenders
131,000	0	0	0	0	-	-	-	-	696,500	696,550	696,550	726,400	29,900	0	0	0	-	-	-	-	-	-	-	-	65,794	65,794	65,794	15,294	14,500	0	0	0	-	-	-	-
Repayment of term loans
26,100	26,100	26,200	26,300	710,900	706,200	701,400	696,500	7,100	432,800	432,050	431,425	430,700	4,200	227,374	229,174	353,224	353,600	130,750	186,375	62,875	63,124	90,294	6,500	28,920	28,544	1,250	27,794	3,999	3,500	3,003	2,500	3,583	2,333	0	0	0
Repayment of other secured borrowings
10,000	12,800	14,800	16,400	14,800	9,700	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from mezzanine debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,500	6,000	6,000	13,151	11,651	0	0	0	-	-	-	-	-	-	-	-
Payment of holdbacks
3,200	6,500	8,300	10,100	10,600	13,000	17,200	17,800	32,600	28,700	22,737	25,038	16,401	15,600	16,024	13,690	4,699	3,700	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Debt issuance costs paid to third parties
3,500	1,200	0	0	0	-	-	-	-	34,000	30,396	28,196	26,200	1,400	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of finance leases
2,800	1,300	1,700	1,600	2,600	2,700	2,700	2,700	2,000	1,600	1,367	1,862	1,916	1,800	1,723	1,438	1,084	900	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Issuance of Plexus note, net of discount
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0
Repayment of subordinate notes payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	85	63	42	21	105	0	0	0	-	-	-	-
Proceeds from issuance of common stock under employee stock purchase plan
300	0	425,000	424,900	424,500	424,500	200	100	0	0	655	1,500	1,300	1,200	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	247	0	0	0
Tax withholding related to the vesting of restricted stock
400	400	5,200	11,200	16,100	21,000	16,900	11,900	7,800	4,000	5,458	6,365	6,564	5,700	4,925	4,100	3,507	3,500	2,261	1,494	1,278	1,591	1,350	1,252	962	120	0	0	0	-	-	-	-	-	-	-	-
Exercise of stock options
500	900	1,000	1,300	1,500	1,700	2,700	2,700	1,900	2,100	1,732	1,576	1,837	1,200	735	784	870	900	725	573	681	994	907	766	511	43	38	38	41	3	0	0	0	-	-	-	-
Shares issued in offering, net of offering costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6,182	6,182	6,182	1,621	0	0	0	0	-	-	-	-
Net cash provided by financing activities
67,200	35,000	22,500	16,600	2,327,700	2,304,300	2,390,800	2,400,000	235,400	469,700	659,929	659,740	528,756	318,600	170,881	171,529	266,756	253,600	136,258	165,473	85,980	88,231	38,664	17,227	47,523	50,930	54,009	52,786	18,929	14,692	13,314	14,548	13,743	13,002	0	0	0
Effect of exchange rate changes on cash
400	-600	-8,400	-9,100	-5,600	-6,300	-200	2,500	-1,300	-1,200	-398	-266	80	-1,400	-1,125	-992	-988	2,000	3,080	5,508	7,499	5,228	3,926	2,507	1,171	675	38	-548	-694	167	203	-283	-36	-153	0	0	0
Net increase (decrease) in cash, cash equivalents, and restricted cash
55,700	-13,500	-7,100	-40,000	-3,700	-45,900	12,900	-57,000	21,400	-232,800	19,323	115,257	22,753	319,300	-4,280	-4,022	-41,884	-34,600	-21,897	-3,117	44,846	43,471	36,713	16,945	2,634	1,059	636	630	388	1,477	-2,702	-2,405	-1,401	-3,313	0	0	0
Supplemental disclosure of cash flow information:
Cash paid for interest
176,600	176,600	178,200	162,900	159,500	158,800	110,600	77,700	70,500	47,200	45,406	43,844	27,696	26,300	25,573	21,710	19,206	13,100	8,843	7,900	6,235	7,976	9,142	9,521	8,481	7,412	5,988	5,777	5,206	4,759	4,633	3,262	2,690	2,175	0	0	0
Cash paid for income taxes, net
1,400	1,300	4,500	5,400	5,000	5,300	3,000	1,500	1,800	1,700	1,192	1,316	891	1,000	575	250	650	400	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
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	0	0	-	-	-	-	-	-	-	-
Shares issued in connection with the extinguishment of subordinated notes and accrued interest thereon
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,880	2,880	2,211	0	0	0	0	-	-	-	-
Stock Issued During Period, Value, Acquisitions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fair value of shares issued in connection with acquisition
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-