KAISER ALUMINUM CORPORATION KALU Cash Flow

Kaiser aluminum corporation (KALU)

CashFlow / TTM

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
63,100	62,000	96,200	92,500	94,000	91,700	52,900	51,100	35,100	45,400	85,100	80,100	101,400	91,700	80,500	87,700	81,900	-236,600	-234,300	-240,500	-236,200	71,800	83,500	93,000	87,100	104,800	86,600	90,400	92,800	85,800	82,800	57,700	40,800	25,100	16,600	18,000	14,000	12,000	0	0	0
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of property, plant and equipment
47,600	46,300	45,000	44,000	43,200	42,100	41,300	40,600	39,200	38,300	37,300	36,000	35,400	34,500	33,300	32,400	31,500	30,800	30,600	30,500	30,100	29,500	28,700	27,600	26,800	26,400	26,000	25,800	25,400	24,700	24,000	23,400	23,200	23,000	23,000	22,100	21,200	19,500	0	0	0
Amortization of definite-lived intangible assets
2,800	2,800	2,800	2,500	2,100	1,800	1,500	1,400	1,400	1,400	1,300	1,400	1,500	1,500	1,600	1,600	1,600	1,600	1,600	1,600	1,600	1,600	1,600	1,600	1,700	1,700	1,800	1,800	1,800	1,800	1,900	2,000	2,000	2,200	0	0	0	-	-	-	0
Amortization of debt discount and debt issuance costs
1,200	1,200	1,100	1,100	1,000	1,000	1,100	1,100	1,200	1,200	1,200	1,200	1,100	1,100	900	1,200	1,400	4,300	7,200	9,600	12,100	11,800	11,600	11,400	11,200	11,000	10,800	10,600	10,200	9,800	10,200	9,400	9,000	8,600	7,100	6,800	6,400	4,500	0	0	0
Deferred income taxes
25,500	21,100	37,100	37,200	39,200	36,700	77,800	86,900	78,800	89,000	55,300	46,000	60,400	57,400	60,000	63,400	60,100	-131,700	-146,300	-151,900	-151,100	34,300	44,100	51,700	48,800	55,400	48,100	49,200	51,300	52,000	52,400	38,300	27,800	17,600	15,800	15,900	14,000	13,300	0	0	0
Excess tax benefit upon vesting of non-vested shares and dividend payment on unvested shares expected to vest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,300	1,100	1,100	1,100	800	900	1,000	1,000	1,100	1,000	900	800	1,300	1,500	1,500	1,500	200	0	0	0	-	-	-	0
Non-cash equity compensation
9,100	9,800	10,300	10,700	9,900	10,300	11,600	12,400	13,100	13,300	13,100	12,700	12,200	11,800	11,300	10,400	10,000	9,500	8,600	7,300	7,100	7,000	6,100	6,600	6,200	6,800	6,500	6,700	5,900	5,800	6,800	6,400	6,500	5,400	4,600	4,400	4,500	4,700	0	0	0
Gain on disposition of short-term investments
1,100	900	1,100	1,800	2,100	2,900	2,900	2,500	2,700	2,300	1,800	1,300	700	0	0	0	0	-	-	-	-	-	-	-	-	400	400	300	500	0	0	0	0	-	-	-	-	-	-	-	-
Lower of cost or market inventory write-down
-	-	-	-	-	-	-	-	-	-	-	-	-	4,900	7,500	7,500	7,500	2,600	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net non-cash LIFO benefits
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-33,400	-34,800	-24,900	-7,100	23,100	28,200	22,200	16,500	0	0	0
Non-cash unrealized loss (gain) on derivative instruments
-	-	-	-	-	-	-	-	-	-	-	-	29,800	-	21,200	17,500	5,100	-3,400	-18,100	-17,700	-14,200	-6,800	9,800	14,200	7,100	3,900	-2,700	6,400	12,100	16,000	10,300	-14,600	-28,300	-25,900	-18,200	5,300	300	-5,500	0	0	0
Amortization of option premiums (received) paid, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	300	0	-400	-800	-1,200	-100	500	1,300	1,800	0	0	0
Non-cash asset impairment charge
-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on disposition of property, plant and equipment
-200	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-200	-100	-100	-100	-100	0	0	0
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)
-	-	-	-	-	-	-	-	-	-	-	-	-	3,700	3,500	3,300	3,000	2,800	-4,000	-10,600	-17,300	-23,500	-22,800	-22,400	-22,000	-22,000	-19,500	-16,800	-14,100	-11,500	-10,100	-8,700	-7,200	-5,700	0	0	0	-	-	-	-
Non-cash loss on removal of Union VEBA, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	446,700	446,700	446,700	446,700	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other non-cash changes in assets and liabilities
-6,800	-8,600	-11,000	-12,300	-17,400	-21,900	-19,500	-4,600	7,300	15,500	33,400	22,800	17,900	17,500	-1,300	-1,100	-600	-600	-500	-700	-800	-600	4,200	6,500	6,800	9,300	4,500	2,000	2,000	-1,200	-1,400	-900	-1,100	-400	1,500	300	100	700	0	0	0
Changes in operating assets and liabilities:
Trade and other receivables
-20,400	-20,200	-4,600	-9,500	12,100	22,300	62,600	53,800	34,700	30,900	4,100	13,500	21,400	26,800	13,500	-1,700	-11,100	-17,400	-6,800	10,400	23,100	7,000	6,200	-300	-18,100	3,300	-24,200	-1,500	19,400	27,100	27,100	10,300	14,100	8,300	32,000	21,000	12,600	1,200	0	0	0
Contract assets
-11,300	-300	-4,900	-5,700	900	-700	-4,600	-3,000	1,900	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Receivable from affiliate
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-200	0	0	0
Inventories
-39,300	-37,500	-3,200	51,000	54,200	45,000	21,300	18,000	14,000	6,300	-11,400	-17,600	-7,100	-13,100	13,800	7,700	100	7,500	6,000	19,200	14,900	300	3,400	-4,800	3,800	28,400	32,400	13,900	4,000	-19,700	-39,000	-16,200	3,700	24,500	57,800	49,300	51,300	56,300	0	0	0
Prepaid expenses and other current assets
1,100	1,700	500	1,700	1,600	400	1,500	500	600	1,700	8,900	9,500	9,100	8,000	400	500	-700	-500	-300	200	700	600	-100	-700	-1,100	-1,100	200	-1,100	-1,000	-1,400	-800	2,000	4,100	2,900	5,500	4,000	1,000	900	0	0	0
Accounts payable
-10,200	-24,500	-23,800	-28,100	4,600	29,200	22,500	46,800	35,600	13,000	24,200	10,100	10,900	3,400	2,200	-4,100	-12,100	-13,600	-23,400	2,000	10,300	20,300	18,400	1,500	-1,100	-1,600	3,000	3,800	5,300	-1,300	2,800	-8,700	600	10,900	13,500	21,300	9,800	4,200	0	0	0
Accrued liabilities
-9,400	-7,500	-4,900	1,600	4,300	-2,600	-6,600	-5,700	-600	-4,700	-800	-1,000	-6,400	26,200	21,000	23,200	14,900	12,800	16,500	11,200	14,500	-6,000	-8,700	-8,200	-100	1,800	2,400	3,100	6,600	10,400	13,900	12,400	3,900	-1,500	-800	3,000	8,300	400	0	0	0
Annual variable cash contributions to Salaried VEBA
2,900	2,100	2,100	2,100	2,100	15,700	15,700	15,700	15,700	20,000	20,000	20,000	20,000	19,500	19,500	19,500	19,500	13,700	13,700	13,700	13,700	16,000	16,000	16,000	16,000	20,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Payable to affiliate
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-7,900	-14,000	-18,300	-10,100	-6,500	-6,400	-6,800	-1,500	-2,700	400	6,500	7,200	8,100	0	0	0
Long-term assets and liabilities, net
-5,900	-5,800	100	3,200	3,500	4,100	1,700	2,300	2,100	2,200	9,900	11,100	12,000	26,000	12,900	14,400	16,500	-28,200	-20,800	-19,900	-23,300	7,200	-1,300	-3,100	-1,600	-600	1,800	1,100	1,000	1,100	-1,400	3,600	3,500	2,400	8,500	-8,800	-7,700	-24,600	0	0	0
Net cash provided by operating activities
261,900	232,300	191,600	136,700	146,900	150,200	122,500	152,400	163,500	141,500	189,700	166,500	148,400	165,600	158,200	183,600	173,600	159,700	129,300	101,100	104,400	124,100	124,800	134,100	132,500	111,700	136,300	126,600	123,700	152,400	148,700	104,600	82,000	62,800	21,800	60,600	59,600	66,300	0	0	0
Cash flows from investing activities
Capital expenditures
67,700	60,200	61,700	68,200	68,000	74,100	72,500	71,600	80,400	75,500	74,800	73,500	65,000	76,100	82,100	82,500	77,700	63,100	58,200	52,200	55,300	59,400	63,000	74,500	76,500	70,400	65,400	53,200	44,400	44,100	35,300	35,300	35,300	32,500	26,900	26,300	31,200	38,900	0	0	0
Purchase of short-term investments
153,200	132,200	79,600	144,200	153,300	135,200	163,400	143,500	172,800	247,500	250,200	310,900	330,000	255,300	0	0	0	-	-	-	-	-	-	-	-	227,800	206,800	182,900	170,600	85,000	0	0	0	-	-	-	-	4,400	0	0	0
Proceeds from disposition of short-term investments
137,200	91,100	143,400	193,000	216,300	283,900	268,400	249,300	286,300	296,900	262,200	209,200	145,900	55,000	30,000	30,000	20,000	84,000	110,000	167,200	167,200	108,200	94,600	72,400	122,900	183,100	170,700	135,700	85,200	0	0	0	0	-	-	-	-	-	-	-	-
Cash payment for acquisition of Imperial Machine & Tool Co., net of cash received
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	83,200	0	0	0	-	-	-	0
Change in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-6,900	-6,900	-6,200	-6,200	1,000	0	0	0	-	-	-	-
Net cash provided by investing activities
-84,200	-101,800	1,700	-62,500	-48,500	31,100	-11,100	33,900	33,700	-25,500	-62,200	-175,200	-249,100	-276,400	-253,200	-124,900	-58,200	20,400	11,900	44,400	18,400	-44,700	-47,500	-154,100	-94,100	-113,400	-100,400	-99,700	-129,800	-121,900	-107,800	-28,700	-28,700	-116,300	-111,400	-114,000	-118,000	-46,400	0	0	0
Cash flows from financing activities
Cash paid for debt issuance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Repayment of Convertible Notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Repayment of promissory notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8,300	0	0	0	-	-	-	-
Cash paid for debt issuance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8,600	0	0	0
Proceeds from issuance of Convertible Notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	175,000	0	0	0
Purchase of call option in connection with issuance of cash convertible senior notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-31,400	0	0	0
Proceeds from issuance of warrants
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	14,300	0	0	0
Repayment of finance lease
1,500	1,400	1,300	1,000	800	700	700	600	400	400	100	0	200	0	100	100	-100	0	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefit upon vesting of non-vested shares and dividend payment on unvested shares expected to vest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,300	1,100	1,100	1,100	800	900	1,000	1,000	1,100	1,000	900	800	1,300	1,500	1,500	1,500	200	0	0	0	-	-	-	0
Cancellation of shares to cover employees' tax withholdings upon vesting of non-vested shares
5,500	6,200	6,200	6,200	5,000	6,900	6,900	6,900	7,000	4,500	4,600	4,600	4,600	2,900	2,600	2,600	3,000	2,800	3,000	3,000	2,700	2,400	2,500	2,700	2,500	2,500	2,400	2,300	2,300	2,200	4,200	4,100	4,100	3,100	0	0	0	-	-	-	-
Retirement of common stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Repurchase of common stock
38,200	44,200	69,400	70,400	73,500	60,700	44,700	34,000	52,600	79,500	86,400	89,200	59,600	33,300	17,700	16,300	27,300	49,200	60,500	61,800	59,600	44,100	63,100	62,100	76,300	78,300	43,900	39,900	14,700	0	0	0	0	-	-	-	-	44,200	0	0	0
Cash dividends and dividend equivalents paid
40,500	39,400	39,000	38,500	37,900	37,700	37,100	36,400	35,700	35,000	34,400	34,000	33,500	32,400	31,500	30,400	29,200	28,100	27,300	26,600	26,100	25,400	24,800	24,200	23,500	23,000	22,200	21,400	20,600	19,600	19,500	19,300	19,100	18,900	18,800	18,800	18,800	19,000	0	0	0
Net cash used in financing activities
14,000	8,500	-115,900	-116,100	-117,200	-106,000	-89,400	-77,900	-95,700	-119,400	-125,300	-127,500	65,500	94,800	87,000	83,300	-264,700	-284,400	-270,900	-265,400	-87,500	-71,200	-89,600	-87,500	-100,800	-102,200	-66,900	-63,000	176,800	193,100	191,100	182,100	-31,900	-32,300	-30,500	-21,200	-21,200	85,400	0	0	0
Net increase (decrease) in cash, cash equivalents and restricted cash during the period
191,700	139,000	77,400	-41,900	-18,800	75,300	22,000	108,400	101,500	-3,400	2,200	-136,200	-35,200	-16,000	-8,000	142,000	-149,300	-104,300	-129,700	-119,900	35,300	8,200	-12,300	-107,500	-62,400	-103,900	-31,000	-36,100	170,700	223,600	232,000	258,000	21,400	-85,800	-120,100	-74,600	-79,600	105,300	0	0	0