WORLD FUEL SERVICES CORPORATION INT Cash Flow

World fuel services corporation (INT)

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
Cash flows from operating activities:
Net income (loss) including noncontrolling interest
41,600	56,800	49,400	37,600	37,300	29,800	38,700	29,200	31,300	-193,700	-37,900	30,200	31,100	2,000	43,100	29,700	51,600	49,500	42,700	23,700	54,600	69,800	54,400	46,400	50,500	53,435	50,297	52,357	51,111	45,025	52,898	54,882	48,546	53,030	53,842	50,673	41,657	39,238	36,374	37,051	33,840
Adjustments to reconcile net income including noncontrolling interest to net cash provided by operating activities:
Depreciation and amortization
21,800	23,200	21,100	20,800	22,300	22,500	20,600	19,600	18,800	21,900	20,800	20,700	22,600	23,900	21,700	18,300	18,400	18,500	16,400	17,200	13,400	15,400	14,800	14,700	12,400	11,888	10,525	11,439	10,848	9,914	9,132	8,009	9,659	11,419	10,371	10,573	8,167	6,013	4,469	4,205	4,419
Provision for bad debt
9,900	6,300	13,900	3,300	2,400	17,500	3,600	2,200	1,800	3,000	2,400	1,400	2,500	10,000	1,500	2,400	1,500	2,300	1,600	2,300	1,300	300	1,200	1,200	1,100	6,025	1,863	2,709	1,103	377	3,631	641	141	1,424	2,422	3,531	796	1,100	1,097	1,696	369
Share-based payment award compensation costs
-1,800	11,200	4,700	3,500	4,200	300	1,600	2,200	4,200	5,900	6,100	5,100	4,100	4,700	5,700	4,700	4,100	3,800	4,800	4,200	4,200	4,500	3,600	3,700	4,000	4,122	4,381	4,325	3,872	3,738	4,384	3,053	2,904	2,842	2,541	2,793	2,865	3,688	2,721	2,411	1,306
Deferred income tax expense (benefit)
-11,700	1,900	-3,400	9,300	-4,500	-1,400	-800	6,100	-7,100	35,100	-13,200	-1,700	-6,300	-21,500	-14,700	-1,600	1,800	-1,600	3,900	6,700	-3,700	2,500	-600	4,700	4,200	-8,087	-4,034	3,182	739	4,941	-5,131	-875	10,730	3,710	-8,633	6,441	123	-5,860	-247	183	-1,455
Extinguishment of liabilities, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,500	-100	1,800	-	1,600	1,600	3,700	1,600	800	1,100	1,800	3,582	3,184	1,306	428	1,243	2,575	3,891	3,490	2,521	2,661	2,347	819	-	-	-	-
Foreign currency (gains) losses, net
19,800	-11,300	2,600	1,300	-3,400	-3,800	-7,400	5,100	-2,600	9,000	-14,900	3,500	3,000	-6,500	14,100	10,400	-6,200	11,300	11,800	-21,000	5,200	-	-	-	-	-	-	-	-	-	-1,199	7,117	-2,274	-	-4,255	-407	818	235	357	-68	-360
Other
40,900	2,100	-600	8,500	-8,200	2,500	1,200	300	-700	-1,200	600	900	900	10,100	200	-1,400	-1,400	7,300	-900	2,700	-4,100	2,300	-1,400	5,200	-800	2,569	-6,805	1,679	557	7,050	-45	-2,089	743	-2,154	-384	-447	-446	-427	-143	186	-90
Changes in assets and liabilities, net of acquisitions:
Accounts receivable, net
-900,400	185,200	-33,600	23,700	-11,200	-330,300	275,800	428,500	71,200	212,800	444,900	104,400	-56,700	449,000	-17,800	373,000	-142,900	-223,100	-312,000	135,700	-85,600	-518,400	-101,900	144,000	15,600	34,629	-87,408	78,669	303,010	-270,417	215,217	-169,378	127,281	-5,007	195,365	78,055	457,573	145,326	20,392	82,540	80,847
Inventories
-245,300	7,900	13,000	-43,000	83,400	-165,300	120,400	-28,100	84,800	-25,600	84,700	-14,500	-700	-39,800	79,100	36,300	-26,100	-58,800	-39,800	30,200	-13,000	-243,900	-13,600	116,500	-91,300	37,508	64,106	-84,076	60,162	-19,731	33,868	99,720	-23,010	42,872	-961	116,473	64,061	-34,159	79,124	18,773	-4,814
Prepaid expenses
-20,700	10,600	0	15,900	-8,700	-11,900	19,300	4,000	-6,100	9,900	10,100	-500	200	-7,900	12,600	-700	-11,700	-20,700	16,500	14,000	-20,600	-1,600	-31,100	22,100	-35,900	9,832	12,965	-7,621	-45,876	-75,595	76,131	-12,988	63,607	10,258	21,313	-21,776	-7,476	55,574	-74	-883	7,958
Short-term derivative assets, net
189,300	-4,800	40,400	-3,400	-164,200	115,600	13,700	19,200	2,800	28,600	-14,200	-4,100	-10,100	28,800	-17,900	-89,500	-85,100	37,500	46,500	-91,200	-74,300	201,400	49,300	14,300	800	-	-	-	-	-	-	-	-	-	-	-	-	-	-156	-5,900	4,218
Other current assets
-17,700	-5,600	67,300	18,400	-27,300	16,200	4,700	6,700	25,500	-35,800	52,800	17,900	-21,000	-10,000	-26,200	43,800	12,800	-149,600	-2,200	92,300	25,500	1,100	4,000	23,200	9,700	-5,963	3,571	39,258	-14,266	-14,948	-108,340	56,556	70,249	-9,122	33,308	41,635	12,223	35,531	-3,272	7,686	-910
Transaction taxes receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	26,595	2,179	849
Cash collateral with financial counterparties
-36,900	-39,600	34,900	-5,400	-32,600	-10,800	-1,700	20,500	21,200	-11,100	-9,700	-21,700	15,800	20,400	15,800	59,000	54,000	39,400	-55,300	105,600	43,600	-257,100	-29,700	8,900	-10,100	-9,893	20,516	-1,286	563	-18,000	134,999	-163,152	35,094	-	-	-	-	-	-	-	-
Other non-current assets
29,500	-5,500	5,800	-6,600	-27,300	22,200	6,500	4,400	28,400	11,000	6,900	16,500	-4,100	9,200	-6,800	300	-7,100	5,100	4,700	-9,300	1,400	-16,400	200	-1,600	4,100	12,145	4,400	2,901	154	-2,433	-8,497	6,417	-280	-4,852	-800	2,375	-960	-2	2,284	155	1,451
Accounts payable
-1,057,500	107,100	-33,400	80,900	-10,900	-382,700	253,000	351,900	-50,900	197,500	240,900	57,500	-44,700	210,200	23,200	381,200	-191,200	-268,100	-264,200	142,700	-91,900	-597,800	-111,500	199,400	-77,900	69,397	-60,295	5,400	370,898	-292,693	208,317	-104,793	143,990	33,886	67,008	149,993	331,061	93,384	20,869	62,510	80,445
Customer deposits
3,700	11,900	-23,300	44,200	-24,700	12,900	11,100	-6,900	-5,300	7,000	7,400	-8,300	7,300	-15,800	5,400	7,700	-23,600	-3,000	27,500	-8,700	-33,300	-13,200	-35,000	60,300	700	-	-	-	-	-	-	-	-	-	33,481	-5,372	-9,407	11,126	-2,069	5,311	-16,768
Transaction taxes payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,710	2,470	62
Short-term derivative liabilities, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-4,752	-2,550	4,387
Accrued expenses and other current liabilities
101,500	-32,200	84,000	-40,500	-103,200	78,900	16,100	7,700	-30,200	77,700	72,700	-18,100	-54,600	22,600	-43,300	-63,900	-37,300	-122,700	75,700	-59,200	-35,700	231,800	31,400	-6,200	10,000	1,515	36,465	-15,231	-26,249	-28,869	-96,312	86,647	40,329	23,296	8,193	6,112	6,923	48,826	5,483	-966	-755
Non-current income tax, net and other long-term liabilities
34,300	93,000	-19,800	-14,000	-46,400	11,600	4,600	7,900	-9,300	82,500	14,000	-6,000	-2,100	-2,400	1,800	900	-6,700	6,300	20,700	-8,600	-7,400	-	-	-	700	4,905	3,065	-1,164	794	-1,452	2,986	-881	-2,795	-3,470	-2,497	948	-59	-11,597	-292	1,273	45
Total adjustments
-32,100	3,300	-16,400	87,300	-26,500	103,700	-126,100	-29,000	-260,100	251,200	-152,600	-95,000	33,100	-171,600	-23,800	32,800	86,900	72,600	104,800	47,200	52,300	-57,800	-27,300	-36,000	41,100	-2,882	11,160	-9,577	58,399	52,495	52,296	-160,597	246	21,297	-133,006	-43,886	-186,143	-41,964	-93,118	-29,845	-17,274
Net cash used in operating activities
9,500	60,100	32,900	125,000	10,800	133,500	-87,400	200	-228,800	57,500	-190,500	-64,700	64,100	-169,600	19,300	62,400	138,600	122,300	147,400	70,900	106,900	12,000	27,100	10,400	91,600	50,553	61,457	42,780	109,510	97,520	105,194	-105,715	48,792	74,327	-79,164	6,787	-144,486	-2,726	-56,744	7,206	16,566
Cash flows from investing activities:
Cash receipts of retained beneficial interests in receivable sales
-	-	-	-	-	12,300	115,600	121,900	120,000	102,500	79,900	83,600	72,800	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition of businesses, net of cash acquired
130,500	0	0	0	0	300	0	-1,000	22,000	26,100	6,200	300	88,100	164,400	216,700	4,400	45,300	14,900	75,500	2,800	3,700	42,900	66,500	10,200	154,000	-	-	-	-	146,445	42,299	28,948	90	10,387	6,302	39,013	67,000	131,792	37,700	0	8,315
Capital expenditures
17,400	21,400	22,200	15,500	21,800	27,600	15,800	13,500	15,400	16,200	6,300	21,500	10,000	7,200	5,600	9,200	14,100	14,600	14,500	8,800	13,100	13,100	17,100	11,100	8,900	32,414	25,642	11,695	12,949	9,717	9,170	5,619	3,948	3,685	8,413	4,766	2,628	4,585	3,747	3,262	891
Escrow payment related to an assumed obligation of an acquired business
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	21,700	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other investing activities, net
1,100	4,900	-700	-500	-3,300	-2,500	300	-4,000	-3,600	4,900	100	600	-200	-31,500	0	0	-6,900	1,200	0	900	-5,300	-	-	-	-	-	-	-	-	-	-	-	115	-	-	-	-	-	-	-	-
Repayments of acquisition promissory notes and other debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,111	6,701	2,901	-	2,203	4,611	1,492	4,794	1,959	5,660	463	947	2	5,519	2
Net cash provided by investing activities
-149,000	4,600	-21,500	-15,100	-18,500	-13,000	99,500	113,400	86,100	55,300	67,400	61,100	-25,100	-14,800	-222,400	15,800	-52,600	-30,800	-90,000	-12,500	-11,500	-6,900	-83,400	-22,200	-184,600	-83,333	-41,108	-37,110	-12,949	-156,162	-51,855	-34,452	-4,153	-13,804	-17,421	-43,779	-69,628	-136,377	-31,447	-3,262	-9,206
Cash flows from financing activities:
Borrowings of debt
1,732,000	549,300	1,254,800	1,655,600	1,542,000	1,524,900	1,788,500	1,406,100	1,468,900	972,600	1,508,300	1,173,000	818,800	1,877,400	1,233,100	887,900	689,600	662,200	1,568,000	1,251,900	1,349,100	1,019,300	1,760,700	1,727,900	1,249,400	1,123,100	932,000	1,124,700	1,376,800	1,149,500	893,000	1,193,000	815,000	1,358,594	1,245,000	2,042,000	374,000	-	-	-	-
Repayments of debt
1,161,300	611,800	1,249,800	1,671,100	1,547,500	1,566,100	1,821,700	1,474,400	1,545,100	1,257,100	1,381,500	1,188,600	922,500	1,829,200	893,800	892,700	664,600	774,400	1,457,100	1,178,100	1,342,400	1,096,000	1,695,100	1,763,200	997,200	1,127,300	825,500	1,045,950	1,477,550	1,064,710	941,250	1,145,000	815,000	1,358,594	1,133,000	1,944,000	334,000	-	-	-	0
Dividends paid on common stock
6,500	6,500	6,600	4,000	4,000	4,100	4,000	4,100	4,000	4,000	4,100	4,100	4,100	4,100	4,200	4,100	4,200	4,200	4,200	4,300	2,600	2,700	2,600	2,700	2,600	2,680	2,678	2,675	2,667	2,666	2,669	2,686	2,664	2,654	2,655	2,696	2,598	2,226	2,228	2,231	2,226
Federal and state tax benefits resulting from tax deductions in excess of the compensation cost recognized for share-based payment awards
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,500	600	900	-	-	300	500	608	-20	991	1,721	-	-	-	-	1,941	201	895	2,915	-	-	-	0
Proceeds from exercise of stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-165	250
Purchases of common stock tendered by employees to satisfy the required withholding taxes related to share-based payment awards
-	-	-	-	-	-	-	-	-	-	-	-	-	-	300	3,000	900	-	-200	3,000	4,000	600	300	1,400	2,800	155	437	1,752	4,456	243	184	474	4,072	1,185	367	2,238	6,416	2,270	36	1,399	119
Distribution of noncontrolling interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	478	923	-	-	-	-	-	-	-	-
Repurchases of common stock
55,600	0	0	65,400	0	-	-	-	-	0	30,000	20,800	11,100	22,800	0	18,400	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other financing activities, net
-1,500	-32,800	-4,500	-1,200	-1,400	100	-100	-1,600	-500	-4,300	-1,600	900	-1,300	-8,800	0	0	-200	-	-	-	-3,400	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in financing activities
507,000	-101,800	-6,000	-86,200	-10,900	-45,100	-57,300	-73,900	-80,800	-288,900	91,000	-43,500	-120,200	15,200	336,300	-30,200	19,600	-116,900	65,200	37,100	-2,400	-90,400	51,700	-39,100	247,300	-9,229	79,682	68,100	-109,053	92,349	-51,787	35,447	-9,151	-7,810	104,058	92,880	33,438	-12,822	214,184	-9,314	-2,097
Effect of exchange rate changes on cash and cash equivalents
-16,500	4,700	-4,900	300	900	-5,700	-200	-5,200	4,100	2,500	2,600	3,400	1,800	-4,500	1,900	-400	1,500	-1,700	-2,700	3,200	-4,300	-1,100	-3,400	1,000	100	926	712	-890	-648	-368	1,173	-1,197	1,690	848	-5,354	473	1,157	-51	1,490	-324	-1,026
Net increase (decrease) in cash and cash equivalents
351,000	-32,300	400	24,000	-17,700	69,700	-45,500	34,600	-219,400	-173,600	-29,600	-43,700	-79,300	-173,800	135,200	47,500	107,200	-27,100	119,900	98,700	88,700	-86,300	-8,000	-49,900	154,400	-41,083	100,743	72,880	-13,140	33,339	2,725	-105,917	37,178	53,561	2,119	56,361	-179,519	-151,976	127,483	-5,694	4,237