| Dec'19 | Dec'18 | Dec'17 | May'16 | May'15 | May'14 | May'13 | May'12 | May'11 | May'10 |
|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities | |||||||||
Cash flows from operating activities | |||||||||
Net loss | |||||||||
6,080 | 6,845 | -2,168 | 24,650 | 15,991 | 22,575 | 11,639 | 21,346 | 16,336 | - |
Adjustments to reconcile net loss to net cash provided by operating activities | |||||||||
Net income attributable to Mistras Group, Inc. | |||||||||
- | - | - | - | - | - | - | - | - | 10,429 |
Depreciation and amortization | |||||||||
38,533 | 34,413 | 31,383 | 32,474 | 33,286 | 28,429 | 26,647 | 22,024 | 18,592 | 15,183 |
Deferred income taxes | |||||||||
3,599 | -1,859 | 4,854 | -240 | 1,745 | 621 | 1,732 | 984 | -1,779 | - |
Loss on extinguishment of long-term debt | |||||||||
- | - | - | - | - | - | - | - | - | 387 |
(Gain) loss on sale of assets | |||||||||
- | - | - | - | - | - | - | - | -21 | -196 |
Amortization of deferred financing costs | |||||||||
- | - | - | - | - | - | - | - | 169 | 206 |
Share-based compensation expense | |||||||||
5,766 | 6,107 | 6,574 | 6,514 | 6,579 | 6,261 | 6,285 | 5,097 | 3,751 | 2,695 |
Impairment charges | |||||||||
0 | 0 | 15,810 | 0 | 0 | - | - | - | - | - |
Deferred income taxes | |||||||||
- | - | - | - | - | - | - | - | - | 907 |
Bad debt provision for troubled customers, net of recoveries | |||||||||
3,038 | 650 | 1,200 | 0 | 0 | - | - | - | 253 | 532 |
Interest rate swap | |||||||||
- | - | - | - | - | - | - | - | 210 | 506 |
Noncontrolling interest | |||||||||
- | - | - | - | - | - | - | - | - | 23 |
Foreign currency (gain) loss | |||||||||
535 | -1,311 | -604 | - | - | - | - | - | 335 | 1,284 |
Goodwill impairment | |||||||||
- | - | - | - | - | - | 9,938 | - | - | - |
Gain on sale of subsidiary | |||||||||
0 | 2,384 | 0 | 0 | -2,516 | 0 | 0 | - | - | - |
Fair value adjustments to contingent consideration | |||||||||
511 | -716 | -463 | -2,066 | -5,382 | -3,937 | -3,727 | 174 | - | - |
Other | |||||||||
-1,804 | -462 | 525 | 1,052 | -1,647 | -617 | -472 | 643 | - | - |
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions | |||||||||
Accounts receivable | |||||||||
-8,298 | 10,349 | -2,490 | 4,999 | -3,982 | 23,857 | -4,772 | 18,030 | 22,664 | 15,213 |
Inventories | |||||||||
302 | 2,764 | 117 | -1,595 | -388 | -1,203 | -525 | 1,708 | 77 | 116 |
Prepaid expenses and other assets | |||||||||
-3,289 | -1,400 | 1,904 | 1,812 | 1,109 | 4,059 | 1,042 | 1,503 | - | 682 |
Other assets | |||||||||
- | - | - | - | - | -36 | -462 | 8 | -47 | -1,259 |
Accounts payable | |||||||||
1,138 | 2,948 | 2,574 | 254 | -6,571 | 6,125 | -5,478 | 3,149 | 1,904 | 1,806 |
Accrued expenses and other liabilities | |||||||||
-5,042 | 5,663 | 4,188 | 10,187 | 2,006 | 4,532 | -3,832 | 5,524 | 6,203 | -583 |
Income taxes payable | |||||||||
131 | -3,781 | 1,007 | 2,139 | -1,748 | -431 | -1,426 | -3,036 | -515 | 3,748 |
Net cash provided by operating activities | |||||||||
- | - | - | - | 49,840 | 36,873 | 43,503 | 31,402 | 25,254 | 18,987 |
Net cash provided by operating activities | |||||||||
59,110 | 41,664 | 55,799 | 68,124 | - | - | - | - | - | - |
Cash flows from investing activities | |||||||||
Cash flows from investing activities | |||||||||
Purchase of property, plant and equipment | |||||||||
22,047 | 20,584 | 19,314 | 14,864 | 15,104 | 16,871 | 12,530 | 9,592 | 10,075 | 1,947 |
Purchase of intangible assets | |||||||||
873 | 541 | 1,255 | 1,315 | 866 | 708 | 993 | 813 | 520 | 36 |
Disposition of business | |||||||||
0 | 4,239 | 0 | 0 | - | - | - | - | - | - |
Acquisition of businesses, net of cash acquired | |||||||||
4,228 | 139,980 | 83,424 | 1,743 | 34,677 | 21,924 | 33,122 | 29,216 | 26,195 | 14,699 |
Proceeds from sale of equipment | |||||||||
1,868 | 1,416 | 1,196 | 1,170 | 996 | 1,498 | 1,166 | 2,109 | 312 | 148 |
Net cash used in investing activities | |||||||||
- | - | - | - | -49,651 | -38,005 | -45,479 | -37,512 | -36,478 | -16,534 |
Net cash used in investing activities | |||||||||
-25,280 | -155,450 | -102,797 | -16,752 | - | - | - | - | - | - |
Cash flows from financing activities | |||||||||
Cash flows from financing activities | |||||||||
Repayment of finance lease obligations | |||||||||
4,545 | 5,813 | 6,492 | 7,870 | 8,653 | 8,139 | 6,972 | 6,984 | 6,230 | 6,071 |
Proceeds from borrowings of long-term debt | |||||||||
983 | 2,358 | 6,653 | 2,737 | 2,232 | 0 | - | - | - | 25,000 |
Repayment of long-term debt | |||||||||
6,857 | 2,746 | 2,101 | 17,580 | 11,457 | 8,830 | 5,075 | 12,346 | 7,141 | 68,942 |
Net repayments of former revolver | |||||||||
- | - | - | - | - | - | - | -3,850 | 3,850 | -15,505 |
Proceeds from revolver | |||||||||
32,000 | 175,176 | 124,000 | 55,800 | 110,300 | 102,880 | 14,568 | 25,000 | - | - |
Repayment of revolver | |||||||||
61,700 | 49,991 | 50,600 | 69,600 | 86,800 | 81,300 | - | - | - | - |
Payment of financing costs | |||||||||
0 | 826 | 560 | 0 | - | - | - | - | - | - |
Net repayments from other short-term borrowings | |||||||||
- | - | - | - | - | - | - | 1,868 | -45 | - |
Payment of financing costs | |||||||||
- | - | - | - | - | - | - | 623 | - | 484 |
Proceeds from capital contribution from noncontrolling interests | |||||||||
- | - | - | - | - | - | - | - | 21 | - |
Purchase of remaining noncontrolling interest in subsidiary | |||||||||
- | - | - | - | - | - | - | 75 | - | - |
Net proceeds from issuance of common stock | |||||||||
- | - | - | - | - | - | - | - | 14,682 | - |
Payment of contingent consideration for business acquisitions | |||||||||
852 | 2,277 | 560 | 3,147 | 3,213 | 1,678 | 1,892 | - | - | - |
Purchases of treasury stock | |||||||||
0 | 0 | 15,923 | 0 | 0 | 0 | - | - | - | - |
Net proceeds from issuance of common stock | |||||||||
- | - | - | - | - | - | - | - | - | 74,007 |
Taxes paid related to net share settlement of share-based awards | |||||||||
3,198 | 2,185 | 1,647 | 1,091 | 1,481 | 1,007 | 809 | 283 | - | - |
Excess tax benefit from share-based compensation | |||||||||
- | - | - | -170 | 388 | 340 | 495 | 554 | 22 | - |
Proceeds from exercise of stock options | |||||||||
32 | 273 | 275 | 543 | 750 | 996 | 829 | 2,484 | 95 | 78 |
Net cash provided by (used in) financing activities | |||||||||
- | - | - | - | 2,066 | 3,262 | 1,144 | 2,009 | 5,344 | 8,083 |
Net cash provided by (used in) financing activities | |||||||||
-44,137 | 113,969 | 53,045 | -40,378 | - | - | - | - | - | - |
Effect of exchange rate changes on cash and cash equivalents | |||||||||
-221 | -2,180 | 2,340 | - | - | - | - | - | - | - |
Net change in cash and cash equivalents | |||||||||
-10,528 | -1,997 | 8,387 | - | - | - | - | - | - | - |
Effect of exchange rate changes on cash and cash equivalents | |||||||||
- | - | - | -361 | - | - | - | - | - | - |
Effect of exchange rate changes on cash and cash equivalents | |||||||||
- | - | - | - | -1,720 | 88 | 224 | 1,632 | 722 | -167 |
Net change in cash and cash equivalents | |||||||||
- | - | - | - | 535 | 2,218 | -608 | -2,469 | -5,158 | 10,369 |
Net change in cash and cash equivalents | |||||||||
- | - | - | 10,633 | - | - | - | - | - | - |
Supplemental disclosure of cash paid | |||||||||
Interest | |||||||||
14,158 | 7,751 | 4,264 | 4,151 | - | - | - | - | - | - |
Interest | |||||||||
- | - | - | - | 4,504 | 3,271 | 3,144 | 2,749 | 2,783 | 3,943 |
Income taxes | |||||||||
6,096 | 10,983 | 3,063 | 10,686 | 13,243 | 12,920 | 15,639 | 14,871 | 9,257 | 2,306 |
Noncash investing and financing | |||||||||
Equipment acquired through finance lease obligations | |||||||||
9,502 | 4,845 | 3,185 | 8,248 | 8,031 | 11,031 | 3,886 | 9,504 | 6,403 | 5,986 |
Issuance of notes payable and other debt obligations primarily related to acquisitions | |||||||||
- | - | - | 0 | 20,480 | 336 | 7,715 | 3,340 | 10,407 | 5,739 |