Icf international, inc. (ICFI)
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'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11
Cash Flows from Operating Activities
Net income

64,232

68,938

68,254

65,295

64,301

61,400

69,775

66,796

65,116

62,876

48,479

48,224

46,870

46,584

44,661

42,769

41,360

39,369

37,382

37,390

38,214

40,030

39,023

38,601

38,934

39,330

40,793

39,235

39,250

38,075

37,698

37,459

36,076

34,865

0

0

0

Adjustments to reconcile net income to net cash used in operating activities:
Bad debt expense

1,227

624

1,797

2,146

1,693

2,480

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes

-1,489

123

-3,013

-7,374

-5,604

-5,100

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-13,621

4,233

8,391

965

4,623

0

0

0

(Gain) loss on disposal of fixed assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-102

-121

-120

13

0

0

0

Non-cash equity compensation

15,493

15,818

14,506

14,024

13,266

11,506

10,815

10,277

10,064

10,291

9,566

9,401

9,059

9,082

10,058

10,191

10,611

10,850

10,616

9,878

9,959

11,008

11,184

11,439

10,819

8,891

8,916

9,126

8,999

8,770

8,291

7,613

7,235

6,658

0

0

0

Depreciation and amortization

29,317

28,182

28,988

28,748

27,391

27,206

26,677

27,305

28,038

28,579

29,154

29,041

29,225

29,119

30,102

31,440

32,390

33,406

32,808

29,729

26,934

23,806

21,074

20,804

20,558

20,715

21,853

22,869

23,844

23,878

22,208

20,875

19,858

19,808

0

0

0

Deferred rent

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-3,594

-3,171

1,333

-1,918

-2,235

0

0

0

Facilities consolidation reserve

-278

-274

-271

-267

-263

-260

-65

-273

-332

1,479

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of debt issuance costs

619

500

495

498

497

500

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

Other adjustments, net

321

-181

2,362

486

-720

-449

5,497

3,661

6,204

-275

-1,081

-1,484

-3,623

1,169

-7,732

-3,758

-3,602

-1,254

2,558

3,141

3,108

3,015

2,556

1,914

-606

-1,972

0

0

0

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities, net of the effects of acquisitions:
Net contract assets and liabilities

6,160

11,963

10,783

9,998

25,887

14,148

23,707

5,440

8,082

-405

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Contract receivables

-952

31,300

74,697

99,699

55,179

60,096

33,048

12,859

-207

-702

-17,224

-24,408

-13,572

9,702

7,286

5,915

1,416

2,713

-9,116

-2,705

-1,025

2,464

14,587

26,541

21,261

-233

11,389

-10,740

-13,768

-12,129

-3,435

13,331

20,400

18,147

0

0

0

Prepaid expenses and other assets

426

-1,997

194

1,144

190

6,650

5,850

5,981

4,781

1,844

752

-4,880

-850

2,792

3,015

11,506

4,161

170

-2,605

-7,708

2,333

1,743

4,662

7,799

4,762

3,633

5,117

2,927

2,313

533

63

261

-1,607

1,043

0

0

0

Accounts payable

-1,690

31,949

29,139

32,023

19,690

28,309

6,571

2,301

13,272

3,631

4,506

3,135

4,799

8,941

143

-3,254

-4,479

-2,374

2,616

6,762

-1,528

9,424

2,412

5,968

1,593

390

584

-998

3,375

3,164

5,740

3,097

12,827

7,996

0

0

0

Accrued salaries and benefits

6,552

8,012

8,147

2,754

2,920

-2,159

3,723

7,594

373

5,597

-2,986

-20,571

2,044

1,140

15,971

15,546

8,279

-13,208

-3,018

-4,669

909

4,286

3,893

3,131

-3,863

3,753

-7,177

-5,927

-4,225

-4,198

1,502

3,741

-4,429

4,703

0

0

0

Accrued subcontractors and other direct costs

-13,823

-12,293

1,764

10,563

15,506

10,762

15,585

4,777

4,666

15,507

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

683

-1,792

3,284

7,607

-1,091

4,170

3,959

749

2,229

3,729

1,019

4,566

2,822

0

0

0

Accrued expenses and other current liabilities

-2,081

-4,951

762

-4,097

-2,042

11,120

3,373

3,833

8,559

-2,250

-70

4,231

3,226

5,730

979

593

-3,152

-4,522

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred revenue

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-913

4,279

-6,300

2,367

4,970

1,944

5,300

-2,099

-2,622

-4,944

-2,089

-2,407

99

-1,934

-1,845

-2,638

-7,695

-3,193

-2,243

-692

0

0

0

Income tax receivable and payable

-6,728

-4,489

-662

-3,481

-700

-2,063

-9,522

-7,571

-6,342

-5,697

1,410

-5,577

-7,567

-2,447

-8,444

-1,825

7,095

8,356

4,552

5,390

-4,818

-6,453

-1,535

-4,795

3,088

6,749

-1,029

2,702

-3,938

-10,451

-326

-6,256

-3,351

466

0

0

0

Restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-1,971

0

0

0

Other liabilities

34

144

19

1,430

-536

176

-777

-4,355

2,704

3,054

3,562

7,016

679

-639

-2,807

-3,030

-1,524

-320

1,230

476

283

-1,718

-1,467

139

-1,055

609

1,123

-1,693

-1,013

-201

590

1,665

2,624

2,080

0

0

0

Net Cash Used in Operating Activities

88,896

91,440

70,681

48,449

67,829

74,670

57,260

78,821

105,242

117,191

92,554

80,965

99,536

80,057

91,089

86,951

86,168

76,203

102,525

91,989

67,847

79,160

53,667

42,675

55,477

80,813

67,588

89,638

90,065

87,761

79,570

58,560

56,698

59,521

0

0

0

Cash Flows from Investing Activities
Capital expenditures for property and equipment and capitalized software

24,066

26,901

26,905

26,931

26,115

21,812

21,631

17,827

15,178

14,513

11,612

12,018

12,178

13,791

13,547

14,756

14,142

12,682

9,842

8,314

7,701

10,635

12,359

12,765

13,896

11,859

13,239

12,656

11,556

13,561

13,749

14,102

14,164

10,234

0

0

0

Capitalized software development costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Payments for business acquisitions, net of cash received

254,771

3,569

15,297

24,556

24,559

34,575

22,846

11,838

11,835

91

0

0

0

-

-

0

0

1,818

290,152

291,971

291,973

347,871

0

0

0

-

-

-

-

9,974

112,538

112,018

112,018

108,009

0

0

0

Net Cash Used in Investing Activities

-278,837

-30,470

-42,202

-51,487

-50,674

-56,387

-44,477

-29,665

-27,013

-14,604

-11,804

-12,209

-12,369

-13,891

-13,547

-14,756

-14,142

-14,500

-299,994

-300,285

-299,674

-358,506

-71,896

-75,246

-76,375

-16,622

-17,227

-14,098

-12,974

-23,535

-126,259

-126,092

-126,154

-118,243

0

0

0

Cash Flows from Financing Activities
Advances from working capital facilities

1,267,921

686,830

674,893

667,692

598,991

573,991

573,987

526,023

601,286

590,225

578,512

568,344

482,484

478,584

442,542

429,183

382,059

381,745

663,246

673,908

687,481

733,032

418,361

351,799

287,974

139,215

112,544

108,367

156,796

172,270

259,185

253,517

216,075

213,138

0

0

0

Payments on working capital facilities

980,239

721,809

662,397

622,793

598,164

579,817

571,562

560,378

645,637

643,363

629,627

608,248

544,572

530,728

493,503

471,279

421,428

420,265

446,307

446,716

437,390

422,980

367,209

293,991

247,477

204,215

163,480

176,897

222,231

212,270

194,185

173,401

143,929

153,138

0

0

0

Payments on capital expenditure obligations

-

-

-

-

-

3,726

4,657

5,663

4,168

4,808

4,405

4,297

4,485

4,041

3,914

3,943

3,714

3,289

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Debt issue costs

0

-

-

-

-

21

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,955

0

0

0

-

-

-

0

Proceeds from exercise of options

2,547

2,914

1,883

2,738

4,446

5,842

5,842

5,824

4,427

4,722

5,652

4,307

5,129

3,034

2,464

1,595

487

932

834

794

1,099

1,831

2,312

4,175

4,240

3,103

2,371

515

95

78

98

282

416

478

0

0

0

Dividends paid

10,543

10,540

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net payments for stock issuances and buybacks

0

-

-

0

0

-

-

49,120

42,369

32,464

-33,349

-28,381

-26,173

-13,823

-20,530

-24,796

-27,859

-24,861

-17,227

-15,129

-28,170

-28,323

-33,817

-29,017

-9,617

-7,447

-2,073

-6,640

-14,008

-11,569

-14,070

-9,176

-866

-898

0

0

0

Tax benefits of stock option exercises and award vesting

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,307

2,187

1,610

1,934

3,543

3,492

4,354

3,451

1,213

493

182

515

804

61

-36

-236

227

0

0

0

Net Cash Provided by Financing Activities

243,790

-67,640

-27,304

2,177

-31,424

-28,771

-13,630

-52,781

-68,284

-87,300

-84,808

-69,764

-87,617

-66,974

-72,912

-69,167

-69,991

-64,448

197,598

210,253

220,785

283,519

19,983

34,265

36,269

-70,433

-50,143

-74,532

-77,527

-52,642

51,546

71,212

69,707

59,799

0

0

0

Effect of Exchange Rate Changes on Cash, Cash Equivalents, and Restricted Cash

-877

166

-813

-436

-607

-792

201

479

1,166

1,094

820

-455

-817

-416

-856

255

183

-1,746

-1,916

-2,534

-2,137

-1,004

-251

846

368

470

-274

-779

-812

-956

-805

-1,100

-826

-281

0

0

0

Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash

52,972

-6,504

362

-1,297

-14,876

-11,280

-646

-3,146

11,111

16,381

-3,238

-1,463

-1,267

-1,224

3,774

3,283

2,218

-4,491

-1,787

-577

-13,179

3,169

1,503

2,540

15,739

-5,772

-56

229

-1,248

10,628

4,052

2,580

-575

796

0

0

0

Supplemental Disclosure of Cash Flow Information
Interest

12,719

10,424

10,281

10,949

9,894

9,893

9,073

7,640

7,530

7,922

8,894

9,056

9,440

8,937

8,201

7,709

8,508

9,845

8,348

7,375

5,000

2,728

2,687

2,343

2,255

2,459

2,531

2,915

3,167

3,243

3,233

2,886

2,554

2,334

0

0

0

Income taxes

26,424

26,595

19,875

18,806

15,321

14,870

19,630

20,167

20,978

21,659

21,042

22,017

21,803

21,094

18,437

19,111

15,116

16,315

20,079

19,932

25,539

24,335

21,177

23,553

14,132

13,670

13,435

9,963

19,029

20,377

23,943

28,848

27,551

26,411

0

0

0