Houghton Mifflin Harcourt Co HMHC Cash Flow

Houghton mifflin harcourt co (HMHC)

CashFlow / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12
Cash flows from operating activities
Net loss
-213,833	-94,155	-103,187	-284,558	-133,869	-111,491	-111,186	-87,139
Adjustments to reconcile net loss to net cash used in operating activities
Earnings from discontinued operations, net of tax
-	12,833	17,150	21,587	-	-	-	-
Gain on sale of discontinued operations, net of tax
-	30,469	-	-	-	-	-	-
Gain on sale of assets
-	201	-	-	-	-	2,720	-
Gain on bargain purchase
-	-	-	-	-	-	-	30,751
Depreciation and amortization expense
272,692	250,466	266,443	284,059	296,609	319,777	341,979	428,422
Amortization and impairments of operating lease assets
15,949	-	-	-	-	-	-	-
Amortization of debt discount and deferred financing costs
4,286	4,181	4,181	4,181	7,216	4,750	4,797	24,584
Deferred income taxes
4,535	5,140	-49,247	-53,182	48,214	899	-3,121	-10,076
Stock-based compensation expense
13,968	13,248	10,728	10,491	12,452	11,376	9,524	6,254
Impairment charge for pre-publication costs
-	13,099	3,980	130,205	-	1,679	9,000	8,003
Restructuring charges related to property, plant, and equipment
-	-	9,841	-	-	-	-	-
Noncash issuance of warrants
-	-	-	-	-	-	-	10,747
Reorganization items
-	-	-	-	-	-	-	-149,114
Loss on extinguishment of debt
-4,363	-	-	-	-3,051	-	-598	-
Change in fair value of derivative instruments
-899	-1,374	1,366	-614	-2,362	-1,593	-252	1,688
Changes in operating assets and liabilities, net of acquisitions
Accounts receivable
-19,182	11,005	-12,564	-37,897	-30,808	-65,519	88,029	-25,826
Inventories
28,850	33,515	-8,122	-8,465	-26,228	1,763	-15,419	-44,549
Other assets
20,155	-3,908	10,548	-6,673	2,562	4,263	4,480	-
Accounts payable and accrued expenses
-12,136	16,144	-5,937	-24,155	13,145	-3,432	1,076	-44,594
Royalties payable and author advances, net
9,342	-1,650	-1,449	-12,738	6,238	13,286	5,851	9,478
Deferred revenue
200,473	-7,692	-13,500	39,249	124,489	229,105	702	-54,615
Interest payable
3,690	-186	129	87	59	-8	-32	4,912
Severance and other charges
10,631	-2,823	221	4,315	-3,615	-5,210	-2,759	-17,460
Accrued pension and postretirement benefits
-4,800	-904	-6,932	3,675	-4,869	-16,724	-15,057	-19,710
Operating lease liabilities
-17,281	-	-	-	-	-	-	-
Other liabilities
-7,980	5,056	-2,145	-21,906	-77,597	-14,050	-4,611	-12,916
Net cash provided by operating activities—discontinued operations
-	10,831	30,382	31,966	-	-	-	-
Net cash used in operating activities
254,975	104,084	104,748	143,751	348,359	491,043	157,203	104,802
Cash flows from investing activities
Proceeds from restricted cash accounts
-	-	-	-	-	-	-	-26,495
Proceeds from sales and maturities of short-term investments
50,000	86,539	80,690	197,724	286,732	134,275	251,168	19,575
Purchases of short-term investments
-	49,553	86,211	81,086	198,633	310,149	217,855	165,603
Additions to pre-publication costs
102,562	123,403	131,282	118,603	103,709	115,509	126,718	114,522
Additions to property, plant, and equipment
37,561	53,741	55,092	103,152	82,987	67,145	59,803	50,943
Proceeds from sale of business
-	140,000	-	-	-	-	-	-
Acquisition of intangible asset
-	-	2,000	-	-	-	-	-
Acquisition of business, net of cash acquired
5,447	-	-	-	578,190	9,091	18,695	11,000
Investment in preferred stock
750	500	-	1,000	-	-	1,500	-
Proceeds from sale of assets
-	1,085	-	-	-	-	4,825	-
Net cash used in investing activities—discontinued operations
-	-6,832	-11,028	-7,829	-	-	-	-
Net cash used in investing activities
-96,320	427	-193,895	-106,117	-676,787	-367,619	-168,578	-295,998
Cash flows from financing activities
Proceeds under revolving credit facility
60,000	50,000	-	-	-	-	-	-
Payments of revolving credit facility
60,000	50,000	-	-	-	-	-	-
Payments of long-term debt
772,000	8,000	8,000	8,000	247,125	2,500	2,500	12,750
Payments of deferred financing fees
8,493	-	-	-	15,255	-	-	26,586
Repurchases of common stock
-	-	-	55,017	463,013	-	-	-
Tax withholding payments related to net share settlements of restricted stock units
2,018	1,190	1,450	1,672	658	723	-	-
Proceeds from stock option exercises
-	-	512	24,532	36,155	22,752	-	-
Issuance of common stock under employee stock purchase plan
1,028	1,263	1,608	2,197	-	-	-	-
Net collections under transition services agreement
1,136	3,803	-	-	-	-	-	-
Payment of capital restructuring costs
-	-	-	-	-	-	-	104,000
Payments of contingent consideration
-	-	-	-	-	-	1,575	-
Net cash provided by (used in) financing activities
-115,667	-4,124	-7,330	-37,960	106,104	19,529	-4,075	106,664
Net decrease in cash and cash equivalents
42,988	104,386	-77,123	-8,155	-222,324	142,953	-15,450	-84,532
Supplemental disclosure of cash flow information
Interest paid
41,059	41,758	38,295	34,884	24,412	12,328	17,595	92,481
Income taxes paid
671	430	715	5,104	2,987	2,336	1,220	7,699
Non-cash investing activities
Property, plant, and equipment acquired under finance leases
327	480	-	-	1,356	3,495	4,289	4,799
Amounts due from seller for acquisition
-	-	-	-	2,884	-	-	-
Issuance of common stock upon exercise of warrants
-	-	-	-	1,815	-	-	-
Pre-publication Costs [Member]
Impairment charge for pre-publication costs
0	3,980	4,000	0	-	-	-	-
Costs included in accounts payable and accruals
5,480	13,974	16,681	14,397	-	-	-	-
Property, Plant, and Equipment [Member]
Impairment charge for pre-publication costs
-	9,119	-	-	-	-	-	-
Costs included in accounts payable and accruals
3,039	1,908	11,403	5,707	-	-	-	-
Term Loan [Member]
Proceeds from long-term debt, net of discount
364,800	-	-	-	796,000	-	-	250,000
Senior Secured Notes [Member]
Proceeds from long-term debt, net of discount
299,880	-	-	-	-	-	-	-