Installed building products, inc. (IBP)
CashFlow / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13
Cash flows from operating activities
Net income

75,313

68,159

65,441

59,792

57,188

54,748

49,065

45,512

41,170

41,140

41,428

40,967

38,987

38,436

36,642

34,574

31,088

26,517

22,286

19,001

14,801

13,932

0

0

0

-

-

-

-

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

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation and amortization of property and equipment

-

-

-

-

-

33,306

32,120

31,034

29,711

28,285

27,063

25,772

24,680

23,571

22,343

20,890

18,918

16,975

15,315

13,938

13,036

12,174

0

0

0

-

-

-

-

Amortization of operating lease right-of-use assets

16,100

15,691

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of intangibles

25,292

24,500

23,787

22,859

24,160

25,400

26,788

28,384

27,612

26,900

22,871

18,936

15,196

11,259

10,351

9,279

7,954

6,264

4,824

3,700

2,929

2,837

0

0

0

-

-

-

-

Amortization of deferred financing costs and debt discount

1,227

1,184

1,126

1,127

1,144

1,164

1,208

1,270

1,293

1,093

869

628

408

383

347

310

305

264

235

205

151

159

0

0

0

-

-

-

-

Provision for credit losses

4,782

4,312

3,584

3,127

2,562

2,630

2,845

2,135

2,499

2,834

3,176

3,554

3,638

2,928

1,328

1,147

904

919

2,108

2,010

1,946

1,900

0

0

0

-

-

-

-

Write-off of debt issuance costs

-

-

-

-

-

-

-

-

-

-

-

-

-

286

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Gain on sale of property and equipment

156

140

616

1,027

932

1,098

714

529

570

492

365

271

282

254

380

418

420

409

391

382

405

460

0

0

0

-

-

-

-

Noncash stock compensation

9,386

8,727

8,192

7,988

7,621

7,839

7,931

8,218

8,352

6,592

5,113

3,293

1,838

1,894

2,115

2,329

2,550

2,116

0

0

0

-

-

-

-

-

-

-

-

Deferred income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-605

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

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

26,878

29,582

23,357

27,850

26,812

30,166

31,272

22,726

23,813

19,955

25,518

26,439

18,915

18,760

18,999

17,403

22,665

17,526

12,852

14,983

9,621

10,688

0

0

0

-

-

-

-

Inventories

9,985

10,597

9,770

13,372

12,498

15,717

10,534

8,004

5,193

3,667

5,451

5,025

8,207

8,677

3,044

4,168

3,414

2,846

2,539

3,012

2,454

2,925

0

0

0

-

-

-

-

Other assets

8,978

16,959

8,596

2,308

1,461

4,552

6,098

7,078

8,019

4,602

1,229

902

-462

-2,803

-285

450

-2,160

-823

311

1,667

4,390

5,121

0

0

0

-

-

-

-

Accounts payable

446

947

3,158

6,589

396

8,146

11,161

8,650

8,027

6,303

11,186

3,725

7,062

12,400

-4,409

2,529

1,969

-2,511

3,809

1,581

762

4,585

0

0

0

-

-

-

-

Income taxes receivable/payable

-1,041

-3,944

13,218

11,433

11,716

10,273

2,104

-9,316

-20,408

-18,605

-12,335

-1,745

4,306

1,484

5,326

-583

2,830

3,592

540

2,479

-499

-1,678

0

0

0

-

-

-

-

Other liabilities

8,381

12,831

5,960

3,715

3,463

3,007

3,803

98

2,612

7,036

5,334

3,151

1,253

6,118

9,852

8,909

7,847

3,000

-321

3,688

4,044

5,222

0

0

0

-

-

-

-

Net cash provided by operating activities

143,090

123,067

134,301

115,908

106,437

96,633

84,280

73,471

59,183

68,772

72,030

65,532

69,113

73,266

60,013

55,308

48,389

34,547

34,020

27,371

20,557

19,602

16,300

19,408

17,809

4,224

0

0

0

Cash flows from investing activities
Purchases of investments

46,089

52,795

17,352

22,388

12,518

22,818

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Maturities of short term investments

29,806

25,061

27,842

32,842

31,312

42,782

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-95

0

0

0

Purchases of property and equipment

51,428

50,167

45,448

34,532

33,653

35,232

35,772

35,465

34,129

31,668

30,791

28,270

28,286

27,013

26,515

29,216

28,142

27,305

23,509

16,171

11,093

6,176

3,219

2,762

2,779

2,665

0

0

0

Acquisitions of businesses

55,082

51,706

47,798

60,404

51,360

57,740

40,808

38,863

41,752

137,120

147,879

140,247

151,388

53,312

49,661

70,233

63,052

84,274

80,091

54,347

40,377

12,364

3,807

2,500

2,500

1,181

0

0

0

Proceeds from sale of property and equipment

727

761

1,415

1,853

1,871

1,958

1,383

1,065

1,039

959

850

758

704

691

709

678

671

634

619

639

682

689

645

658

1,288

1,240

0

0

0

Other

3,807

2,887

3,224

2,355

2,389

3,019

2,165

2,428

2,920

2,420

0

0

0

-

-

-

-

-

-

-

-

490

0

0

0

-

-

-

-

Net cash used in investing activities

-125,873

-131,733

-84,565

-84,984

-66,737

-74,069

-67,679

-70,839

-106,738

-200,443

-204,823

-194,582

-179,483

-79,597

-75,467

-98,784

-90,943

-111,365

-101,763

-68,648

-49,080

-16,143

-6,311

-4,534

-3,991

-2,511

0

0

0

Cash flows from financing activities
Payments on term loan

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

87,645

0

0

0

-

-

-

-

Redemption of Redeemable Preferred Stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

75,735

0

0

0

-

-

-

-

Net payments on a previous revolving line of credit

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-27,269

-23,715

-21,938

-8,641

10,038

0

0

0

Proceeds from term loan (Note 7)

-

-

-

-

-

-

-

-

-

-

-

-

-

100,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Payments on term loan (Note 7)

-

-

-

-

-

-

-

-

-

97,750

98,250

98,750

5,000

51,875

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from delayed draw term loan

-

-

-

-

-

-

-750

-750

-750

112,500

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on delayed draw term loan

-

-

-

-

-

-

-

-

-

-

-

-

-

50,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from vehicle and equipment notes payable

35,276

33,090

28,553

24,955

25,841

25,443

27,300

27,414

22,639

22,460

22,455

21,226

22,346

22,948

24,827

24,394

21,906

21,334

0

0

0

-

-

-

-

-

-

-

-

Debt issuance costs

0

-

-

-

-

1,992

2,098

2,274

7,449

8,281

8,175

7,940

843

1,238

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments on long-term debt

24,081

21,316

19,084

17,018

14,984

14,130

13,125

11,950

10,977

10,002

8,995

8,173

6,847

5,849

5,512

5,068

4,441

4,088

2,993

2,003

1,551

1,081

759

777

763

513

0

0

0

Principal payments on finance lease obligations

3,529

4,157

4,686

5,057

5,341

5,604

6,047

6,604

7,061

7,314

7,585

7,780

8,132

8,598

8,994

9,379

9,609

9,674

9,719

9,738

9,657

9,364

8,951

8,381

7,604

6,625

0

0

0

Acquisition-related obligations

6,292

6,732

6,850

6,698

5,032

3,954

3,931

5,090

4,956

4,464

3,759

3,535

3,193

3,057

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Payments for deferred initial public offering costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,254

0

0

0

-

-

-

-

Repurchase of common stock

0

-

-

-

-

89,363

0

0

0

-

-

-

-

-

-

-

-

6,100

0

0

0

-

-

-

-

-

-

-

-

Surrender of common stock awards by employees

-

2,331

2,331

2,323

2,230

2,282

2,294

2,294

564

562

550

550

54

836

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in financing activities

81,825

96,113

46,125

-74,923

28,540

5,368

55,480

70,424

42,854

179,699

180,751

181,998

123,277

13,995

29,239

51,656

47,908

72,875

48,276

41,706

29,719

3,237

9,473

-13,594

-11,674

-1,546

0

0

0

Net change in cash and cash equivalents

99,042

87,447

95,861

-43,999

68,240

27,932

72,081

73,056

-4,701

48,028

47,958

52,948

12,907

7,664

13,785

8,180

5,354

-3,943

-19,467

429

1,196

6,696

19,462

1,280

2,144

167

0

0

0

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

24,925

20,943

23,711

23,519

21,977

20,075

18,135

16,473

15,628

13,758

11,171

8,439

6,231

5,342

5,020

4,344

3,796

3,287

2,957

2,966

3,002

2,669

2,399

2,257

2,152

2,038

0

0

0

Income taxes, net of refunds

21,933

22,633

6,838

6,639

4,788

4,950

14,497

27,392

39,136

38,887

34,793

23,975

17,181

18,929

15,594

20,530

15,915

13,493

12,735

7,873

8,643

9,134

6,780

4,652

4,564

8,254

0

0

0

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

-

-

-

-

-

-

-

-

-

10,859

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

20,668

18,907

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Property and equipment obtained in exchange for finance lease obligations

2,044

2,809

3,349

3,224

3,004

2,208

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Vehicles capitalized under capital leases and related lease obligations

-

-

-

-

-

-

-

-

-

-

4,854

4,223

3,306

3,737

3,585

3,446

4,117

3,379

3,752

7,182

10,459

14,583

15,330

15,500

18,765

17,123

0

0

0

Seller obligations in connection with acquisition of businesses

8,733

7,543

6,442

6,901

5,827

7,540

6,789

5,904

5,919

5,128

5,369

5,054

5,709

4,459

3,665

7,218

8,746

13,180

15,454

11,657

8,751

3,544

454

279

279

300

0

0

0

Unpaid purchases of property and equipment included in accounts payable

1,746

1,903

2,685

3,080

1,791

1,773

1,510

2,372

2,879

2,003

0

0

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Unpaid offering costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-