Installed building products, inc. (IBP)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12
Cash flows from operating activities
Net income

68,159

54,748

41,140

38,436

26,517

13,932

6,040

-1,906

Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization of property and equipment

38,862

33,306

28,285

23,571

16,975

12,174

8,374

4,637

Amortization of operating lease right-of-use assets

15,691

-

-

-

-

-

-

-

Amortization of intangibles

24,500

25,400

26,900

11,259

6,264

2,837

3,057

3,082

Amortization of deferred financing costs and debt discount

1,184

1,164

1,093

383

264

159

175

175

Provision for credit losses

4,312

2,630

2,834

2,928

919

1,900

1,038

482

Write-off of debt issuance costs

3,725

1,164

2,113

286

-

233

-

-

Gain on sale of property and equipment

140

1,098

492

254

409

460

372

1,280

Gain on bargain purchase

-

-

-

-

1,116

-

-

-

Noncash stock compensation

8,727

7,839

6,592

1,894

2,116

300

-

4,658

Deferred income taxes

5,341

470

-6,160

-605

-1,515

-378

-1,782

-767

Changes in assets and liabilities, excluding effects of acquisitions
Accounts receivable

29,582

30,166

19,955

18,760

17,526

10,688

12,777

6,858

Inventories

10,597

15,717

3,667

8,677

2,846

2,925

2,945

1,845

Other assets

16,959

4,552

4,602

-2,803

-823

5,121

2,270

1,948

Accounts payable

947

8,146

6,303

12,400

-2,511

4,585

3,902

2,013

Income taxes receivable/payable

-3,944

10,273

-18,605

1,484

3,592

-1,678

-2,602

2,339

Other liabilities

12,831

3,007

7,036

6,118

3,000

5,222

4,678

1,602

Net cash provided by operating activities

123,067

96,633

68,772

73,266

34,547

19,602

4,224

4,594

Cash flows from investing activities
Purchases of investments

52,795

22,818

30,194

-

-

-

-

-

Maturities of short term investments

25,061

42,782

-

-

-

-

-

-

Restricted cash

-

-

-

-

-

-1,708

-95

-

Purchases of property and equipment

50,167

35,232

31,668

27,013

27,305

6,176

2,665

2,929

Acquisitions of businesses

51,706

57,740

137,120

53,312

84,274

12,364

1,181

823

Proceeds from sale of property and equipment

761

1,958

959

691

634

689

1,240

176

Other

2,887

3,019

2,420

-37

420

490

292

-210

Proceeds from insurance

-

-

-

-

-

-

-

833

Net cash used in investing activities

-131,733

-74,069

-200,443

-79,597

-111,365

-16,143

-2,511

-2,743

Cash flows from financing activities
Proceeds from senior notes (Note 7)

300,000

-

-

-

-

-

-

-

Proceeds from initial public offering of common stock, net of costs

-

-

-

-

-

87,645

-

-

Proceeds from secondary public offering of common stock, net of costs

-

-

-

-

-

14,418

-

-

Redemption of Redeemable Preferred Stock

-

-

-

-

-

75,735

-

-

Payments on revolving line of credit under credit agreement applicable to respective period (Note 7)

-

-

-

37,975

149,350

-

-

-

Net payments on a previous revolving line of credit

-

-

-

-

-

-27,269

10,038

486

Proceeds from term loan (Note 7)

-

100,000

300,000

100,000

50,000

25,000

-

-

Payments on term loan (Note 7)

195,750

2,750

97,750

51,875

24,688

-

-

-

Proceeds from delayed draw term loan

-

-

112,500

12,500

50,000

-

-

-

Payments on delayed draw term loan

-

-

125,000

50,000

-

-

-

-

Proceeds from vehicle and equipment notes payable

33,090

25,443

22,460

22,948

21,334

-

-

-

Debt issuance costs

6,691

1,992

8,281

1,238

758

714

-

-

Principal payments on long-term debt

21,316

14,130

10,002

5,849

4,088

1,081

513

511

Principal payments on finance lease obligations

4,157

5,604

7,314

8,598

9,674

9,364

6,625

2,956

Acquisition-related obligations

6,732

3,954

4,464

3,057

3,151

-

-

-

Payments for deferred initial public offering costs

-

-

-

-

-

4,254

4,446

-

Payments for deferred secondary public offering costs

-

-

-

-

-

126

-

-

Repurchase of common stock

-

89,363

-

-

6,100

5,283

-

-

Surrender of common stock awards by employees

2,331

2,282

562

836

-

-

-

-

Purchase of remaining interest in subsidiary

-

-

1,888

-

-

-

-

-

Capital contributions

-

-

-

-

-

-

-

2,500

Net cash used in financing activities

96,113

5,368

179,699

13,995

72,875

3,237

-1,546

-481

Net change in cash and cash equivalents

87,447

27,932

48,028

7,664

-3,943

6,696

167

1,370

Supplemental disclosures of cash flow information Net cash paid during the period for:
Interest

20,943

20,075

13,758

5,342

3,287

2,669

2,038

1,893

Income taxes, net of refunds

22,633

4,950

38,887

18,929

13,493

9,134

8,254

378

Supplemental disclosure of noncash activities
Common stock issued for acquisition of business

-

-

10,859

-

-

-

-

-

Right-of-use assets obtained in exchange for operating lease obligations

18,907

-

-

-

-

-

-

-

Termination of operating lease obligations and right-of-use assets

-2,946

-

-

-

-

-

-

-

Property and equipment obtained in exchange for finance lease obligations

2,809

2,208

4,440

-

-

-

-

-

Vehicles capitalized under capital leases and related lease obligations

-

-

-

3,737

3,379

14,583

17,123

11,090

Seller obligations in connection with acquisition of businesses

7,543

7,540

5,128

4,459

13,180

3,544

300

571

Unpaid purchases of property and equipment included in accounts payable

1,903

1,773

2,003

775

220

421

-

-

Notes payable issued for acquisition of assets

-

-

-

-

-

-

-

115

Unpaid offering costs

-

-

-

-

-

-

710

-