Innerworkings, inc. (INWK)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Cash flows from operating activities:
Net (loss) income

-10,075

-76,683

15,869

-

-32,389

43,736

-8,660

38,794

16,616

11,210

6,309

Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization

12,328

12,988

13,390

17,916

17,472

17,723

13,664

10,790

10,171

9,008

8,030

Stock-based compensation expense

6,281

5,302

6,820

5,572

5,873

5,352

4,733

6,192

-

-

2,481

Stock-based compensation expense

-

-

-

-

-

-

-

-

3,976

3,148

-

Deferred income taxes

-879

-4,604

4,073

4,226

5,879

-2,649

-653

-995

749

801

3,100

Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability

0

0

677

10,417

-270

-37,873

-31,331

-27,688

-

-

-

Goodwill impairment

0

46,319

0

0

-

-

-

-

-

-

-

Intangible and other asset impairments

0

18,121

0

70

-

-

-

-

-

-

-

Goodwill impairment charge

-

-

-

-

37,539

0

37,908

0

0

-

-

Intangible asset impairment charges

-

-

-

-

202

2,710

0

0

-

-

-

Deferred financing cost amortization

-

-

-

-

-

-

-

-

-

-

196

Gain on sale of investment

-

-

-

-

-

-

-

1,196

3,948

3,578

746

Accounts Receivable, Credit Loss Expense (Reversal)

1,068

3,601

454

2,171

1,685

1,984

1,285

1,681

2,414

2,901

1,291

Contract implementation cost amortization

300

433

0

-

-

-

-

-

-

-

-

Warrant Liability, Gain (Loss) on Warrants

-2,233

0

0

-

-

-

-

-

-

-

-

Embedded Derivative, Gain (Loss) on Embedded Derivative, Net

176

0

0

-

-

-

-

-

-

-

-

Unrealized foreign exchange loss

-834

0

0

-

-

-

-

-

-

-

-

Implementation cost amortization

-

-

-

0

2,023

940

0

-

-

-

-

Venezuela remeasurement charges

-

-

-

-

-890

0

0

-

-

-

-

Reduction of prepaid commissions

-

-

-

-

-

-

3,940

0

0

-

-

Excess tax benefit from exercise of stock awards

-

-

-

4,030

0

185

-2,619

6,666

1,144

862

21

Change in fair value of contingent consideration liability

-

-

-

-

-

-

-

-

1,701

1,987

-

Reduction of prepaid commissions

-

-

-

-

-

-

-

-

0

-

-

Other operating activities, net

1,150

255

210

210

210

364

239

533

255

259

-

Changes in assets and liabilities:
Accounts receivable and unbilled revenue

12,254

-4,470

41,871

-

-

-

-

-

-

-

-

Accounts receivable and unbilled revenue

12,254

-4,470

41,871

2,651

10,580

14,793

4,843

14,846

25,406

21,385

-10,379

Accounts receivable and unbilled revenue

12,254

-4,470

41,871

2,651

10,580

-

-

-

-

21,385

-10,379

Inventories

-20,980

16,039

4,245

-6,355

9,676

635

1,384

3,089

2,854

-368

1,201

Prepaid expenses and other assets

6,529

-2,120

13,882

8,206

4,140

7,335

-2,332

13,077

2,635

-5,360

3,639

Accounts payable

-15,634

21,585

18,096

-38,408

25,102

-25,199

29,643

14,818

27,451

1,079

-1,619

Accrued expenses and other liabilities

22,843

5,190

12,107

-

-

-

-

-

-

-

-

Advances to (from) related parties

-

-

-

-

-

-

-

-

-

-

-4

Customer deposits

-

-

-

-

-

-

-

-

-

-

-3,631

Income tax payable

-

-

-

-

-

-

-

-

-

-

-9,007

Accrued expenses and other liabilities

-

-

-

12,069

3,582

3,345

-12,121

4,160

3,885

2,027

2,284

Net Cash Provided by (Used in) Operating Activities

22,470

23,058

11,698

9,660

43,402

-12,515

37,371

9,411

27,830

8,352

14,201

Cash flows from investing activities:
Purchases of property and equipment

13,378

11,263

12,483

13,319

15,034

14,116

12,226

11,823

8,182

4,897

7,165

Payments for acquisitions, net of cash acquired

721

0

0

-

-

-

19,301

1,127

14,782

4,188

12,829

Proceeds from sale of property and equipment

0

122

0

0

-

-

-

-

-

-

-

Payments to seller for acquisitions closed prior to 2009

-

-

-

-

-

-

-

3,000

12,247

12,511

-

Proceeds from sale of marketable securities

-

-

-

-

-

-

-

1,213

3,952

3,595

850

Other investing activities

-

-

-

-

-

594

0

-31

0

-

-

Proceeds from sale of short-term investments

-

-

-

-

-

-

-

-

-

13,818

196

Proceeds from sale of property and equipment

-

-

-

-

-

-

-

-

-

0

-

Net Cash Provided by (Used in) Investing Activities

-14,099

-11,141

-12,483

-13,319

-15,034

-14,710

-31,527

-14,706

-31,260

-4,182

-18,948

Cash flows from financing activities:
Net borrowings from revolving credit facility

-

-

-

8,739

-5,281

35,539

4,000

-

-

-

3,794

Proceeds from lines of credit

-

-

-

-

-

-

-

5,000

12,600

-2,098

-

Repayments of net short-term secured borrowings

833

1,525

-

-

-

-

-

-

-

-

-

Proceeds from net short-term secured borrowings

-

-

20,709

-

-

-

-

-

-

-

-

Net short-term secured repayments

-

-

-

405

-799

2,618

0

0

-

-

-

Repurchases of common stock

0

25,689

10,885

0

4,897

0

0

-

-

-

-

Payments of contingent consideration

0

0

10,989

10,509

-

-

-

-

-

-

-

Payment of debt issuance costs

-

-

-

-

-

696

325

356

0

633

-

Excess tax benefit from exercise of stock awards

-

-

-

4,030

0

185

-2,619

6,666

-

-

-

Payment of debt issuance costs

5,488

545

0

-

-

-

-

-

-

-

-

Payments of contingent consideration

-

-

-

-

8,010

5,769

7,298

7,178

2,314

0

-

Principal payments on capital lease obligations

-

-

-

-

-

-

-

-

-

106

144

Proceeds from exercise of stock options

63

545

2,663

2,636

1,195

778

2,005

5,458

354

195

98

Excess tax benefit from exercise of stock awards

-

-

-

-

-

-

-

-

1,144

862

21

Other financing activities, net

-245

-1,061

-1,156

-866

-594

-399

-411

-7

-31

-

-

Net cash provided by (used in) financing activities

8,977

-13,736

-525

4,435

-18,386

32,256

-4,648

9,583

11,753

-1,780

3,770

Effect of exchange rate changes on cash and cash equivalents

-1,407

-1,973

948

-

-

-

-

-

-

-

-

Increase (decrease) in cash and cash equivalents

15,941

-3,792

-362

-

-

-

-

-

-

-

-

Effect of exchange rate changes on cash and cash equivalents

-

-

-

-607

-1,805

-1,059

191

-289

-362

-34

-132

Increase (Decrease) in cash and cash equivalents

-

-

-

169

8,177

3,972

1,387

3,999

7,960

2,355

-1,107

Supplemental disclosure of cash flow information:
Interest paid

14,355

7,149

4,072

-

-

-

-

-

-

-

-

Cash paid for interest

-

-

-

-

-

-

-

2,229

1,995

1,668

1,281

Income taxes paid

3,040

5,810

9,838

-

-

-

-

4,208

4,068

573

9,372

Supplemental non-cash investing and financing activities:
Buildings - Build to Suit Leases

0

48,428

0

-

-

-

-

-

-

-

-

Repurchases of common stock

0

0

91

-

-

-

-

-

-

-

-

Shares issued as payment of contingent consideration

0

0

4,678

-

-

-

-

-

-

-

-