KRATOS DEFENSE & SECURITY SOLUTIONS, INC. KTOS Cash Flow

Kratos defense & security solutions, inc. (KTOS)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jul'18	Apr'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
Operating activities:
Net income (loss)
-200	2,600	2,600	4,300	3,100	4,700	1,700	-7,700	-2,200	-22,200	-4,300	-6,200	-10,000	-4,300	-23,600	-10,400	-22,200	-4,000	55,100	-15,100	-16,200	-2,200	-10,900	-49,900	-15,000	-7,400	-9,900	-9,600	-10,300	-90,000	-4,200	-17,200	-3,000	-8,600	-6,900	-5,200	-3,500
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest
-400	-700	0	3,000	-600	-500	300	-3,900	-3,500	1,800	1,600	700	100	-2,700	-100	-100	0	3,000	50,900	800	-1,700	600	500	-3,300	-100	-2,900	-400	-2,300	-2,100	1,100	200	-2,300	-500	-1,400	300	100	300
Income from continuing operations
200	3,300	2,600	1,300	3,700	5,200	1,400	-3,800	1,300	-24,000	-5,900	-6,900	-10,100	-1,600	-23,500	-10,300	-22,200	-7,000	4,200	-15,900	-14,500	-2,800	-11,400	-46,600	-14,900	-4,500	-9,500	-7,300	-8,200	-91,100	-4,400	-14,900	-2,500	-7,200	-7,200	-5,300	-3,800
Adjustments to reconcile income from continuing operations to net cash provided by operating activities from continuing operations:
Depreciation and amortization
6,300	6,600	5,700	6,000	5,100	4,300	4,400	4,700	4,500	5,400	5,900	5,400	5,500	5,200	5,600	5,600	6,100	6,000	5,900	6,700	6,900	8,200	8,400	6,200	9,600	5,700	12,900	13,600	14,200	15,500	16,600	12,300	13,600	16,600	15,200	11,400	4,800
Amortization of lease right-of-use assets
2,900	3,000	3,300	1,700	3,700	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Stock-based compensation
4,700	2,800	2,800	2,800	2,600	2,100	1,700	1,700	1,700	1,000	2,800	1,900	2,100	900	1,100	1,600	1,500	600	1,600	1,900	2,000	-3,800	2,800	2,800	1,800	1,200	2,100	2,000	1,900	2,000	2,300	1,200	1,100	1,000	900	800	600
Deferred income taxes
-1,000	-800	-1,000	300	-3,400	-900	1,200	-700	0	-11,300	-400	1,400	800	1,400	1,200	800	1,200	-2,400	-300	1,800	1,800	2,200	0	-400	0	-	-	-	-	-	-	-	-	-300	0	-100	300
Mark to market on swaps
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	300
Gain (Loss) on Extinguishment of Debt
-	-	-	-	-	-	-	-	-	-15,200	0	-4,200	2,100	200	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of deferred financing costs
200	300	200	300	200	300	200	300	200	300	300	300	400	300	400	400	400	400	500	500	500	700	400	800	1,300	1,200	1,300	1,300	1,300	1,300	1,300	1,200	1,300	1,300	1,200	900	400
Amortization of premium and discount on Senior Secured Notes
-	-	-	-	-	-	-	-	-	100	200	200	200	200	300	200	200	200	300	300	300	200	300	-400	-1,000	-1,100	-1,000	-1,100	-1,000	-1,100	-1,000	-1,100	-1,000	-	-	-	-
Provision for doubtful accounts
300	-	-	-	0	-	-	-	-	-	-	-	-	-200	100	-100	300	-100	-100	500	100	300	900	200	100	200	600	100	100	0	100	0	300	-	-	-	-
Litigation related charges
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	1,700	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Provision for non-cash restructuring charges
-	-	-	-	-	-	-	-	-	-	-	-	-	1,400	0	4,700	3,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in accrual for excess facilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-200	-2,100	6,800	0	0	-	-	-	-	-	-	-	-
Changes in assets and liabilities, net of acquisitions:
Accounts receivable
-6,600	19,000	-3,000	-13,400	9,000	5,600	-5,700	8,300	-16,400	9,900	-2,700	-6,100	-1,600	6,600	-2,900	2,200	4,000	12,000	-9,900	-2,300	-10,100	-4,000	-10,500	17,500	-17,800	-9,900	16,100	-28,000	9,800	-9,100	17,900	1,300	-12,900	3,800	12,400	1,200	-3,000
Unbilled receivables
1,500	3,600	6,600	11,100	-19,700	6,700	5,500	9,500	14,200	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Inventoried costs
1,500	-5,700	-6,000	5,500	10,800	-1,100	-400	800	-1,300	-11,900	-2,500	-1,700	8,900	-6,000	5,300	1,600	1,600	-1,300	1,800	200	7,500	-8,300	2,100	-3,200	6,700	-7,400	-1,700	-2,900	-6,300	-5,200	800	2,500	7,100	-1,000	3,100	-5,100	-1,300
Prepaid expenses and other assets
6,800	-	-200	-700	1,100	-	7,400	-2,400	-800	-	-600	2,100	3,800	-	-1,400	-500	-100	-	300	2,200	1,500	-	200	700	-2,200	-	-400	100	0	-	-1,800	-1,200	4,900	-	-6,400	-3,000	-900
Operating lease liabilities
-3,400	-3,200	-3,900	-2,000	2,800	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable
-9,600	11,300	-10,100	4,400	-800	4,000	2,200	9,000	-3,000	-4,300	-7,600	3,500	100	3,100	-100	7,500	-8,800	19,900	-18,200	8,000	-6,800	-1,200	-20,000	23,300	-13,700	2,900	-7,200	-6,900	-12,000	2,800	13,400	3,400	6,000	26,600	-33,200	-12,300	3,100
Accrued expenses
-4,400	-6,100	-300	2,700	-2,700	-700	400	4,700	-6,100	4,000	-2,200	-5,600	0	8,700	13,900	1,100	-3,100	6,700	-2,000	-1,000	-3,100	-1,900	-3,500	800	-5,200	1,000	6,300	-3,100	-4,700	-5,100	-5,500	4,000	-3,700	-16,300	25,000	1,300	-9,000
Accrued compensation
3,700	800	3,000	-5,200	3,100	1,300	-1,900	100	3,800	1,300	-1,300	-200	-2,700	6,400	-1,200	1,500	-4,200	6,800	-4,100	-100	-7,000	8,800	-2,300	800	-6,300	8,500	-2,700	-3,800	-4,300	5,800	5,100	-7,300	700	-4,900	3,200	-4,100	2,000
Advance payments received on contracts
0	-	-	-	100	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Advance payments received on contracts
-	-	-	-	-	-	0	0	-600	-	-	-	700	-	-3,200	4,400	1,500	-	-3,300	3,900	1,700	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Accrued interest
4,900	-	-	-	4,900	-	-	-	4,900	-8,400	7,000	-6,500	6,000	-8,100	7,800	-7,900	7,900	-7,900	9,400	-10,900	10,900	-11,100	11,100	-15,200	15,600	-16,700	15,900	-15,600	15,300	-15,400	16,600	-15,600	15,600	-	-	-	-
Billings in excess of costs and earnings on uncompleted contracts
3,400	400	-4,800	-1,000	3,000	-5,600	7,600	-5,200	-3,700	-4,400	11,100	-1,600	1,200	-900	-600	-5,800	6,700	-7,000	-600	-5,000	5,300	5,800	-1,200	-5,400	-100	-1,200	5,600	-3,000	4,900	-300	-2,400	-1,200	-1,100	4,100	6,400	-8,000	-4,300
Income tax receivable and payable
-900	100	500	-200	1,400	1,000	200	-1,200	200	100	100	800	400	400	700	-300	400	-3,400	2,900	-2,900	300	-1,700	-800	1,100	1,800	-2,300	-200	1,200	2,900	100	700	3,500	-5,000	-1,200	800	2,400	-2,200
Other liabilities
-100	2,600	4,900	300	-6,500	-1,800	-1,800	6,400	-1,000	-900	400	-100	-1,000	-2,500	2,200	-1,000	1,400	1,500	400	0	-2,300	-1,300	-1,200	-400	-800	2,000	-700	-4,900	-1,800	-6,100	-700	600	-1,200	-	-	-	-
Net cash provided by operating activities from continuing operations
4,000	-1,300	10,200	4,000	16,000	2,700	14,000	-5,100	6,500	-10,000	-600	-10,900	-5,400	-5,900	3,700	-900	-11,500	-6,300	-8,300	-12,300	-2,800	17,400	-8,300	-8,300	1,700	10,900	2,600	3,300	5,100	17,200	25,300	-15,200	25,000	-7,400	22,700	-6,900	-3,200
Investing activities:
Payments to Acquire Businesses, Net of Cash Acquired
14,200	100	0	0	17,600	0	2,900	0	0	-	-	-	-	-	-	-	-	-	-	-	-	0	1,000	0	1,600	0	-1,000	0	-1,200	0	127,900	0	21,500	17,300	124,600	25,100	224,100
Capital expenditures
6,400	8,400	8,100	5,800	4,000	4,700	6,900	4,300	6,700	7,400	6,200	7,400	5,100	3,900	1,600	1,400	2,100	3,200	2,900	3,300	1,900	3,200	2,500	2,800	3,100	1,100	4,900	4,000	3,300	4,600	5,800	3,500	2,700	-	-	-	500
Change in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-900	-3,800	300	0	100	0	100	-300	0	-200	-100	-200	100	-400	300	-2,100	-102,300	101,100
Net cash used in investing activities from continuing operations
-20,600	-	-	-	-21,600	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by (used in) investing activities from continuing operations
-	-	-	-	-	-	-	63,600	-6,700	-7,600	-5,900	-6,800	-5,100	-9,100	-1,500	-1,400	-2,100	-3,200	-2,900	-1,500	1,900	-3,500	-3,500	-2,900	-4,700	-1,600	-3,600	-3,600	-1,900	-4,200	-133,500	-3,600	-23,800	-19,800	-125,100	75,000	-325,700
Financing activities:
Extinguishment of long-term debt
-	-	-	-	-	-	-	-	-	384,800	0	0	64,000	14,100	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from the issuance of long-term debt, net of issuance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,800	122,500	-9,000	314,000
Proceeds (expenses) from the issuance of common stock
-	-	-	-	-	2,200	0	0	-1,100	1,100	186,300	-200	81,900	76,200	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-400	61,500
Repayment under credit facility and debt
-	-	-	-	-	0	300	300	200	200	300	200	300	200	300	200	300	300	41,200	300	200	300	200	300	200	200	300	200	300	10,200	40,300	200	300	-	-	-	-
Debt issuance costs
-	-	-	-	-	0	0	0	100	6,600	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,500	6,000	1,600	13,000
Finance Lease, Principal Payments
100	100	200	100	100	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from exercise of restricted stock units, employee stock options, and employee stock purchase plan
-	-	-	-	-	-	-	0	1,800	-	900	-200	800	-	1,100	-200	1,200	-	2,400	-100	1,700	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2,100	-100	1,600	-1,600	1,500	-100	-200	-500	-600	-200	-100	-2,200	500	-200	1,200
Proceeds from exercise of restricted stock units, employee stock options, and employee stock purchase plan
1,400	-	-	-	900	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by financing activities from continuing operations
1,300	900	1,900	-100	800	0	1,600	-300	400	-91,300	186,900	-600	18,400	61,800	800	-400	900	-800	-214,300	-1,100	1,500	-1,800	1,600	-10,900	1,400	-300	1,200	-2,400	-500	-700	-1,100	93,100	-400	-14,600	116,700	-13,400	363,700
Net cash flows of continuing operations
-15,300	-8,900	4,300	-1,900	-4,800	-3,000	4,900	58,200	200	-108,900	180,400	-18,300	7,900	46,800	3,000	-2,700	-12,700	-10,300	-225,500	-14,900	600	12,100	-10,200	-22,100	-1,600	9,000	200	-2,700	2,700	12,300	-109,300	74,300	800	-41,800	14,300	54,700	34,800
Net operating cash flows of discontinued operations
1,300	300	800	-300	300	-1,300	-300	-3,000	-3,100	-300	-4,500	8,300	-4,300	1,400	0	500	-400	900	-1,600	4,200	-700	7,200	3,600	-6,200	-500	-1,900	-300	600	200	-800	800	-2,600	3,900	2,600	-5,400	200	-100
Net investing cash flows of discontinued operations
-	-	-	-	-	-	-	-	-	0	-200	-200	-200	-300	-200	-200	4,700	2,200	240,800	-200	-300	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Effect of exchange rate changes on cash, cash equivalents and restricted cash
0	200	-300	0	-100	-200	-200	-300	200	0	400	100	0	-	-	-	-	-100	-100	400	-400	-300	-300	200	0	-100	200	200	-300	-100	400	-200	-100	-	-	-	-
Net decrease in cash, cash equivalents and restricted cash
-14,000	-8,400	4,800	-2,200	-4,600	-4,500	4,400	54,900	-2,700	-109,200	176,100	-10,100	3,400	47,600	2,900	-2,500	-8,400	-7,300	13,600	-10,500	-800	17,400	-7,900	-28,100	-2,100	5,000	100	-1,900	2,600	11,400	-108,100	71,500	4,600	-39,500	8,700	54,900	34,700
Supplemental disclosure of cash flow information:
Finance lease - cash paid for interest
-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Business Combination, Consideration Transferred
-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments to Acquire Businesses, Gross
-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred purchase consideration
-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-