Hexcel Corporation HXL Cash Flow

Hexcel corporation (HXL)

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	Dec'10	Sep'10	Jun'10	Mar'10
Net income
42,400	73,200	80,300	80,900	72,200	66,100	80,100	68,800	61,600	88,100	69,700	61,600	64,600	59,500	68,200	66,100	56,000	53,900	53,500	61,700	68,100	52,900	55,800	50,600	50,100	47,100	48,700	48,500	43,600	36,900	39,800	48,000	39,600	39,500	32,200	37,400	26,400	22,900	15,600	23,100	15,800
Reconciliation to net cash provided by operating activities:
Depreciation and amortization
35,500	34,600	34,400	34,000	38,700	32,300	31,200	29,800	29,800	28,200	26,800	25,100	24,400	24,300	23,500	23,300	22,200	19,900	19,300	18,900	18,300	18,600	17,800	17,700	17,100	16,500	14,700	13,800	14,300	14,200	14,700	14,300	14,000	13,700	13,700	13,800	14,100	13,900	13,700	13,600	12,000
Amortization related to financing
300	-200	200	600	300	400	500	400	300	100	200	0	400	300	300	800	300	300	300	200	300	300	700	300	300	300	300	1,000	500	600	400	1,600	500	700	500	500	5,400	500	7,400	900	1,500
Deferred income taxes
-600	7,000	2,500	2,600	4,200	1,800	14,800	2,600	10,100	-11,300	13,100	7,100	-5,100	12,300	25,900	11,500	13,100	13,900	16,300	11,700	11,300	-10,800	29,600	1,600	19,300	-1,700	500	16,400	1,200	9,600	6,000	3,300	12,000	-4,000	20,700	-2,600	9,300	7,200	4,700	4,800	-600
Equity in earnings from affiliated companies
500	800	-400	1,300	2,000	1,300	2,000	1,000	1,300	500	1,200	800	800	600	700	800	400	300	800	600	300	300	600	400	100	500	300	300	200	0	0	300	400	500	400	200	500	100	0	300	100
Stock-based compensation
14,400	2,400	2,400	2,400	11,100	2,200	2,000	2,100	9,900	2,100	2,200	2,400	10,900	2,500	800	2,300	10,500	2,700	800	2,400	12,000	3,200	2,500	2,700	8,800	4,200	2,700	3,300	8,700	2,700	2,600	3,000	7,500	2,600	2,500	2,400	6,400	1,900	2,200	2,600	5,700
Merger and restructuring charges
14,700	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Merger and restructuring cash payments
2,100	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefits on stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	600	100	8,500	300	300	1,700	3,500	300	1,000	300	3,700	1,000	400	700	4,700	4,800	100	1,600	2,000	1,500	100	300	400
Pension curtailment gain
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	5,700	-	-	-	-
Changes in assets and liabilities:
Increase in accounts receivable
42,000	-66,000	-18,500	-11,400	59,400	-7,000	-15,700	2,200	41,200	-500	-17,300	-21,900	19,500	600	-36,600	-15,400	68,800	-20,500	-26,600	-4,800	70,300	-15,000	-19,500	1,600	48,300	-6,500	-14,500	-25,600	40,200	-16,900	-9,400	6,100	48,300	-3,600	6,400	-4,700	30,100	-51,200	-23,600	36,600	15,700
Increase in inventories
26,400	-26,400	20,500	4,000	32,300	-6,900	3,500	14,000	14,600	-9,000	-4,900	700	10,900	-15,800	-17,600	1,900	20,700	-21,200	-2,300	10,600	37,900	-5,800	21,000	5,300	18,300	3,200	4,900	4,100	16,200	-5,500	-8,000	15,200	13,500	7,000	10,300	7,200	24,300	-59,200	13,600	15,300	13,600
Increase in prepaid expenses and other current assets
7,600	-6,700	-3,300	10,000	5,800	3,600	-7,900	15,500	-2,600	1,500	-4,300	-5,500	8,400	-3,200	1,700	3,600	2,000	-3,100	800	6,100	-900	-15,700	12,700	-7,500	6,400	1,300	-7,000	11,700	-2,700	800	0	1,100	-2,600	-900	-1,100	2,100	1,000	-500	700	-1,600	1,200
(Decrease) increase in accounts payable/accrued liabilities
-18,800	-2,600	-2,300	-1,700	19,100	23,100	-24,500	17,700	7,000	7,700	-14,800	5,900	-900	1,200	-18,400	8,500	800	15,600	-10,300	-10,400	-5,300	-11,500	-6,800	5,600	11,900	6,300	8,200	-16,100	20,800	-6,600	-1,100	10,300	17,700	15,700	-17,600	11,300	24,700	-22,700	-9,700	35,400	1,500
Other – net
700	-3,600	-900	3,600	200	-400	1,000	-5,900	1,600	2,200	-3,600	-200	500	-2,300	200	-3,000	700	6,800	-7,500	7,100	3,200	500	3,000	100	-2,500	-2,200	2,700	1,100	-1,700	-3,900	2,700	600	4,800	900	2,200	-4,000	5,800	-13,900	6,000	700	2,000
Net cash provided by operating activities
8,600	213,800	120,100	111,300	45,900	143,000	121,200	94,600	62,600	120,200	126,100	128,200	54,200	114,600	151,900	124,600	10,300	136,700	114,100	64,800	-14,600	126,200	81,500	76,900	33,400	77,000	87,700	75,000	33,200	81,900	76,700	51,600	22,200	59,500	33,700	60,400	16,900	57,700	37,100	28,800	2,900
Cash flows from investing activities
Capital expenditures
27,200	41,400	63,400	38,200	61,100	33,900	48,300	42,400	59,500	56,800	52,100	83,700	85,500	96,100	75,800	70,600	85,400	56,000	83,000	71,300	95,000	65,700	75,200	64,200	55,000	61,800	41,100	43,900	48,100	54,800	64,500	61,500	82,900	58,500	31,700	31,900	35,900	17,600	11,100	7,500	12,600
Acquisition of business
-	-	0	4,800	158,400	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisitions and Investments in affiliated companies
-	-	-	-	-	-	-	-	-	64,000	2,000	0	10,000	5,000	0	25,000	8,600	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used for investing activities
-27,200	-41,400	-63,400	-43,000	-219,500	-36,600	-49,000	-42,400	-59,500	-120,800	-54,100	-83,700	-95,500	-101,100	-75,800	-95,600	-94,000	-56,000	-83,000	-71,300	-95,000	-76,000	-75,200	-64,200	-55,000	-61,800	-41,100	-43,900	-48,100	-54,800	-64,500	-56,200	-82,900	-58,500	-36,900	-31,900	-35,900	-17,600	-11,100	-7,500	-12,600
Cash flows from financing activities
Repayments of Euro term loan
49,900	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Borrowing from senior unsecured credit facility
-	-	-	-	-	-	-	-	133,000	-	90,000	77,000	175,000	500,000	-60,100	12,100	111,000	-	-	27,800	65,000	0	378,000	43,000	60,000	-	-	-	-	-	-	-	-	-	-	-	135,000	-	-	-	-
Repayment of senior unsecured credit facility
-	-	-	-	-	-	-	-	105,000	-	80,000	97,000	455,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of finance lease obligation and other debt, net
100	-	200	200	200	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of senior notes
-	-	-	-	-	-	-	-	-	0	0	0	398,300	-	-	-	-	-	-	-	-	-	-	-	-	-	-	288,000	21,000	-	1,000	62,000	59,000	-	-	-	-	-	-	-	-
Proceeds from settlements of treasury locks
-	-	-	-	-	-	-	-	-	0	0	0	10,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from Euro term loan
-	-	-	-	-	-	-	-	-	0	0	0	37,400	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in capital lease obligations
-	-	-	-	-	-	-	-	-	-	-	-	100	-	-	-	6,900	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds (repayment) from senior secured credit facility
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-35,000	-	-	-	-
Borrowings (repayments) from credit line
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,300	-	200	900	800
Proceeds (repayment) of other debt, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-100	0	-1,100	-1,500	0	0	-200	-1,900	-300	-300	-1,300	-2,300	-2,300	3,600	500	600	-100	-3,400	-100	3,600	0	-100	-100
Dividends paid
14,200	14,300	14,400	12,800	12,700	12,900	13,100	11,200	11,200	11,300	11,200	10,000	10,100	10,100	10,100	10,300	9,300	9,400	9,700	9,600	9,600	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of 6.75% senior subordinated notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,500	0	0	150,000	-	-	-	-
Call premium payment for 6.75% senior subordinated notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	3,400	-	-	-	-
Repayment of senior secured credit facility - term loan
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	82,500	2,500	-	-	-	-	-	-	-	-	-	-	-	-
Repurchase of stock
24,600	76,100	55,700	0	11,200	74,900	101,800	150,900	30,100	28,300	1,200	57,100	63,700	26,200	30,000	20,000	34,900	-	-	-	-	0	45,500	66,200	48,300	40,000	0	35,000	15,000	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of senior secured credit facility
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,200	-	-	-	-
Repayment of senior secured credit agreement term loan
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,500	2,500	1,300	1,200	-	-	-	-	1,200	-28,700	0	30,000
Activity under stock plans
-6,400	-	-	3,500	-3,000	-	-	1,500	-2,200	5,400	1,200	5,900	-300	1,300	3,700	300	-5,000	100	2,200	600	10,400	1,000	2,700	4,700	-5,200	1,400	1,800	4,100	-300	1,100	500	1,700	800	1,400	1,700	4,300	3,100	1,900	600	1,400	-800
Net cash (used in) provided by financing activities
284,800	-156,200	-63,400	-56,700	184,900	-120,500	-63,500	-57,800	-15,500	-59,300	-1,800	-85,000	87,800	-19,500	-69,300	-12,900	54,900	-75,400	-19,000	18,800	64,700	-15,600	-9,100	-18,500	6,300	-10,500	-45,700	7,100	1,900	-38,700	-3,300	-8,900	59,100	3,300	-700	-24,100	-52,900	1,000	-38,300	2,200	-30,100
Effect of exchange rate changes on cash and cash equivalents
-1,300	1,200	-1,700	100	-300	-400	-600	-5,100	2,100	900	3,400	3,900	400	-4,500	0	-1,400	1,200	3,300	-4,200	300	-3,300	-1,400	-3,300	-400	-200	1,100	2,100	200	-1,300	1,000	1,700	-2,600	800	-3,200	-3,600	900	5,300	-2,400	6,800	-5,200	-4,600
Net increase in cash and cash equivalents
264,900	17,400	-8,400	11,700	11,000	-14,500	8,100	-10,700	-10,300	-59,000	73,600	-36,600	46,900	-10,500	6,800	14,700	-27,600	8,600	7,900	12,600	-48,200	33,200	-6,100	-6,200	-15,500	5,800	3,000	38,400	-14,300	-10,600	10,600	-16,100	-800	1,100	-7,500	5,300	-66,600	38,700	-5,500	18,300	-44,400
Supplemental data:
Accrual basis additions to plant, property and equipment
21,900	30,100	53,300	50,100	57,500	45,600	43,500	44,700	45,300	66,400	47,900	77,200	92,900	87,600	90,400	68,900	73,300	61,200	86,300	75,000	66,500	91,000	74,400	64,800	40,000	84,600	39,800	40,700	41,400	66,600	60,200	69,800	44,700	80,200	49,200	29,900	25,200	36,600	10,400	6,800	6,900
Senior unsecured credit facility - due 2024
Borrowing from senior unsecured credit facility
392,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of senior unsecured credit facility
12,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Senior unsecured credit facility - due 2021
Borrowing from senior unsecured credit facility
-	0	0	56,000	289,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of senior unsecured credit facility
-	0	0	470,000	77,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-