Mistras group, inc. (MG)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Nov'16Sep'16Aug'16Jun'16May'16Mar'16Feb'16Nov'15Aug'15May'15Feb'15Nov'14Aug'14May'14Feb'14Nov'13Aug'13May'13Feb'13Nov'12Aug'12May'12Feb'12Nov'11Aug'11May'11Feb'11Nov'10Aug'10
Cash flows from operating activities
Cash flows from operating activities
Net loss

-98,522

836

3,087

7,443

-5,286

-1,065

-1,010

6,001

2,919

870

-6,954

2,218

1,698

-

7,296

-

6,609

-

2,772

3,458

3,601

11,430

6,847

2,140

1,768

10,412

1,671

6,432

1,224

9,284

5,635

-4,589

2,751

9,186

4,291

-

-

-

-

-

-

-

-

Adjustments to reconcile net loss to net cash provided by operating activities
Net income attributable to Mistras Group, Inc.

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7,956

3,228

-

2,443

5,678

1,592

Depreciation and amortization

9,467

9,993

9,271

9,601

9,668

8,677

8,497

8,591

8,648

7,739

8,095

7,884

7,665

-

7,894

-

8,003

-

8,620

8,017

7,931

7,963

7,960

8,507

8,114

8,386

8,279

7,579

7,300

6,785

6,765

6,954

7,192

6,462

6,039

6,035

5,765

5,245

4,979

4,984

4,845

4,621

4,142

Impairment charges

106,062

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes

13,739

6,750

-2,731

-176

-244

1,329

-2,587

-341

-260

99

5,063

-394

86

-

-807

-

-1,238

-

2,640

-1,037

-1,071

-335

-1,474

3,922

-985

-58

-1,134

2,608

-1,292

171

-866

3,262

-817

-19

-694

-

-

-

-

-

-

-

-

(Gain) loss on sale of assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-119

-

-42

70

12

17

-25

-22

9

Amortization of deferred financing costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

31

-

31

43

42

42

43

42

42

Share-based compensation expense

1,345

1,168

1,731

1,511

1,356

1,347

1,931

1,703

1,126

1,395

1,759

1,696

1,724

-

1,407

-

1,906

-

1,517

1,729

1,770

1,270

1,957

1,723

599

2,090

2,167

2,248

1,266

1,040

1,707

1,536

1,543

1,572

1,634

1,306

1,244

1,545

1,002

1,071

904

1,047

729

Deferred income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-620

-5

146

-

200

-5

-24

Bad debt provision for troubled customers, net of recoveries

0

240

0

-2,693

5,491

650

0

0

0

0

0

0

1,200

0

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-210

-

-67

171

85

208

-296

236

105

Fair value adjustments to contingent consideration

542

-

135

-367

-305

-

-182

-43

1,033

-

248

7

625

-

-

-351

-

801

-

132

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest rate swap

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

299

-89

Noncontrolling interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-38

-34

-

-36

30

-20

Foreign currency (gain) loss

-307

-475

-208

571

647

-693

-246

-327

-45

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-95

-

4

-230

-5

25

-58

351

17

Charges associated with the exit of foreign operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Fair value adjustments to contingent consideration

-

-

-

-

-

-

-

-

-

-

-

-

-

-

25

-

356

-

-774

-

-224

-168

-900

-2,116

-1,720

-563

-983

-1,523

562

-811

-2,165

-1,471

-1,599

-536

-121

-

-

-

-

-

-

-

-

Other

-76

-1,947

-252

232

163

-255

-43

-331

167

751

56

-429

147

-

998

-

746

-

1,137

200

-344

-525

784

-1,127

448

-538

-430

-511

105

-388

177

-

-

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities, net of effect of acquisitions and dispositions
Accounts receivable

-7,884

-11,396

-5,694

13,696

-4,904

-9,909

11,853

8,390

15

-6,507

6,720

3,458

-6,161

-

8,688

-

-3,180

-

6,377

-12,133

-19,019

15,881

1,760

8,225

-36,403

25,101

-905

10,622

737

14,292

-1,794

1,304

131

10,033

-16,240

7,870

-10,232

26,332

-5,940

16,044

-1,587

11,347

-3,140

Inventories

405

-89

-203

89

505

1,018

575

703

468

-721

23

230

585

-

-795

-

53

-

-360

-315

261

-1,512

16

-1,123

1,336

830

-1,431

-1,224

-244

-228

493

460

475

-847

-613

-916

1,702

599

323

-1,300

32

1,156

189

Prepaid expenses and other assets

985

-2,850

-1,064

-4,800

5,425

-482

-2,166

811

437

2,899

-651

1,372

-1,716

-

4,409

-

-76

-

-316

85

1,338

2,826

-2,036

-3,413

1,570

3,008

-56

-2,214

3,471

1,984

818

-4,583

4,974

1,505

-854

117

162

1,404

-180

-

-741

3,426

-942

Other assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

263

-

-118

-

-

-

-111

-99

108

-

93

427

51

-128

70

-104

126

190

3

22

-677

-34

-2

188

-144

924

9

-43

-937

Accounts payable

-1,526

1,399

-5,206

5,486

-541

-71

-1,456

5,207

-732

1,108

-802

-210

2,478

-

-446

-

-2,009

-

320

160

1,182

-855

-393

1,466

-7,065

1,087

-2,059

3,706

-105

2,398

126

294

-1,237

-1,773

-2,762

4,459

-18

66

-1,358

1,494

584

-455

281

Accrued expenses and other liabilities

-3,315

-2,577

-1,477

2,201

-3,189

-1,793

7,534

3,625

-3,703

3,520

5,417

2,304

-7,053

-

3,755

-

-1,174

-

8,990

2,435

-4,029

5,338

-112

6,600

-2,520

1,012

-3,086

4,793

-385

1,693

-1,569

3,940

-801

-599

-6,372

821

4,062

1,411

-770

4,735

-1,121

4,150

-1,561

Income taxes payable

0

-2,406

1,948

-1,376

1,965

651

-1,819

-1,988

-625

1,441

388

-89

-733

-

1,450

-

-160

-

457

246

101

1,572

9

401

-1,754

652

-1,047

202

-60

-566

-7

-683

-2,572

2,105

-276

-734

-1,438

-409

-455

-213

-333

969

-938

Net cash provided by operating activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

14,284

6,955

4,096

11,538

15,955

152

5,850

21,546

10,430

20,551

-12,378

12,799

6,611

9,603

-201

9,241

Net cash provided by operating activities

6,107

18,634

19,371

12,928

8,177

17,480

4,089

14,277

5,818

20,573

12,254

9,559

13,413

-

8,625

-

17,344

-

12,322

29,113

29,278

10,314

16,210

-

31,363

-5,694

8,847

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash flows from investing activities
Cash flows from investing activities
Purchase of property, plant and equipment

4,301

4,772

5,713

5,925

5,637

5,198

4,423

5,781

5,182

4,901

4,624

6,373

3,416

-

3,117

-

3,729

-

3,443

3,735

3,668

3,252

4,501

3,347

3,895

4,058

3,804

5,210

3,472

5,675

2,514

3,615

3,692

2,509

2,714

3,185

2,567

737

3,103

4,024

2,330

1,844

1,877

Purchase of intangible assets

87

169

263

353

88

156

120

100

165

314

253

312

376

-

310

-

288

-

421

422

414

414

66

285

148

75

358

243

190

133

142

96

415

254

228

376

172

135

130

122

167

145

86

Acquisition of businesses, net of cash acquired

-

-

-

-

-

-

-

-

-

75,068

3,856

0

4,500

-

6,986

-

1,188

-

34

0

0

1,709

0

6

2,010

4

32,657

-

-

-

-

-

-

-

-

2,943

15,578

5,067

5,628

7,894

1,445

11,555

5,301

Proceeds from sale of equipment

184

695

218

231

724

276

199

366

575

2

435

604

155

-

346

-

230

-

114

48

737

151

168

124

276

278

318

576

188

594

140

138

593

110

325

1,808

0

233

68

142

128

18

24

Net cash used in investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-7,744

-10,024

-17,721

-2,516

-3,094

-10,082

-29,686

-2,617

-4,696

-14,617

-9,406

-8,793

-11,898

-3,814

-13,526

-7,240

Net cash used in investing activities

-4,204

-3,652

-10,580

-6,047

-5,001

-145,619

456

-5,515

-4,772

-80,281

-8,298

-6,081

-8,137

-

-10,067

-

-4,975

-

-3,784

-4,109

-3,345

-5,224

-4,399

-

-5,777

-3,859

-36,501

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash flows from financing activities
Cash flows from financing activities
Repayment of finance lease obligations

1,167

-

-

-

1,124

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of finance lease obligations

-

-

-

-

-

1,349

1,355

1,479

1,630

1,614

1,578

1,657

1,643

-

1,822

-

1,986

-

2,293

1,894

1,896

1,788

1,893

2,648

1,822

2,079

2,104

2,174

2,208

1,864

1,893

1,918

1,673

1,737

1,644

1,848

1,745

1,759

1,632

1,599

1,647

1,525

1,459

Proceeds from borrowings of long-term debt

280

299

118

445

121

615

409

963

371

1,054

1,815

2,867

917

-

83

-

113

-

444

225

325

586

1,382

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of long-term debt

1,639

1,668

1,744

1,751

1,694

889

535

488

834

463

606

369

663

-

409

-

10,647

-

589

1,105

1,121

3,523

12,347

-284

1,015

8,332

2,394

892

3,833

3,194

911

756

1,353

1,345

1,621

7,926

1,601

772

2,047

333

3,390

1,776

1,642

Net repayments of former revolver

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

22,800

-3,850

-

-

-

-

Proceeds from revolver

13,500

11,500

10,500

3,500

6,500

147,100

8,976

500

18,600

85,600

8,000

9,500

20,900

-

26,000

-

18,900

-

10,700

5,400

5,900

19,100

20,100

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of revolver

8,500

23,200

11,300

19,700

7,500

6,001

10,890

22,400

10,700

23,700

7,200

8,900

10,800

-

2,500

-

23,100

-

13,500

20,200

19,300

20,400

16,400

-

-

-

-

-

-

-

6,569

-

-13,659

-27,349

15,000

-

-

-

-

-

-

-

-

Payment of financing costs

522

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net borrowings against revolver

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

35,700

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net repayments from other short-term borrowings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

854

1,014

2,677

-667

-3,015

960

Payment of contingent consideration for business acquisitions

1,303

97

755

0

0

-5

776

3

1,503

6

7

496

51

-

4

-

792

-

1,057

1,530

1,696

281

113

179

2,334

700

0

769

409

375

125

5

592

182

1,113

-

-

-

-

-

-

-

-

Purchases of treasury stock

-

-

-

-

-

-

-

-

-

0

3,923

6,000

6,000

-

7,000

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Taxes paid related to net share settlement of share-based awards

157

243

2,274

397

284

781

749

612

43

150

890

566

41

-

1,049

-

1,274

-

23

33

117

-2

953

19

78

-43

1,427

3

-1

7

998

3

-1

0

807

2

0

0

281

-

-

-

-

Excess tax benefit from share-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

57

-

501

-

96

58

37

35

-338

6

99

-54

337

48

170

-2

124

40

62

93

300

149

35

219

151

-

-

-

-

Proceeds from exercise of stock options

0

0

0

0

32

0

273

0

0

-2

1

42

234

-

147

-

438

-

182

191

174

187

0

68

682

0

0

284

350

59

303

156

322

252

99

1,007

152

1,270

55

-

-

-

-

Net cash provided by (used in) financing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-7,989

-1,879

23,199

-10,069

-13,926

10,426

24,430

-19,786

-7,432

-2,845

20,904

-8,618

8,989

-5,898

6,314

-4,061

Net cash provided by (used in) financing activities

492

-14,616

-6,382

-19,190

-3,949

137,874

-4,647

-23,519

4,261

60,159

-4,388

-5,579

2,853

-

13,503

-

-17,847

-

-6,040

-18,888

-17,694

-6,082

-10,562

-

-30,395

17,350

30,112

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Effect of exchange rate changes on cash and cash equivalents

-384

278

-538

210

-171

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net change in cash and cash equivalents

2,011

644

1,871

-12,099

-944

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Effect of exchange rate changes on cash and cash equivalents

-

-

-

-

-

-

-

-

284

-

511

1,293

309

-

-740

-

-770

1,107

-

-89

-723

-115

-118

361

-1,405

-694

18

1,519

-1,342

-267

178

-36

422

62

-224

2,177

-477

-292

224

617

-100

327

-122

Net change in cash and cash equivalents

-

-

-

-

-

-

-

-

5,591

-

79

-808

8,438

-

-

-

-

-

-

-

-

-

-

-

-

-

-

70

-6,290

9,307

-869

-1,101

918

656

-1,081

479

2,612

-1,172

-4,388

-

-

-

-

Net change in cash and cash equivalents

-

-

-

-

-

-

-

-

-

-

-

-

-

-

11,321

-

-6,248

-

3,093

6,027

7,516

-1,107

1,131

-

-6,214

7,103

2,476

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-2,182

Supplemental disclosure of cash paid
Interest

2,726

4,214

2,928

3,588

3,428

2,333

1,962

1,866

1,590

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest

-

-

-

-

-

-

-

-

-

-

-

1,056

967

-

764

-

1,085

346

-

904

1,138

1,207

1,803

2,048

641

930

885

845

760

934

732

722

1,061

615

746

1,029

385

714

621

725

562

746

750

Income taxes

61

2,085

1,446

1,474

1,091

1,325

2,647

4,875

2,136

195

405

1,406

1,057

-

5,737

-

1,900

-

2,811

1,644

1,652

6,031

192

855

4,360

5,893

2,135

1,575

3,775

6,224

1,346

2,034

8,932

3,551

1,122

2,876

4,424

5,277

2,294

2,676

1,964

1,087

3,530

Noncash investing and financing
Equipment acquired through finance lease obligations

667

3,966

2,649

1,801

1,086

995

1,304

1,959

587

361

625

1,532

667

-

565

-

1,142

-

4,291

2,267

2,402

919

636

2,529

1,969

1,582

1,951

2,891

4,697

968

2,475

990

436

905

1,555

891

2,149

2,866

3,598

2,725

947

2,148

583

Issuance of notes payable and other debt obligations primarily related to acquisitions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

150

-

331

-

0

-

0

0

0

-8

-12

-8

20,508

-

-

-

-

-

-

-

-

-

-

-

-

8,770

0

0

1,637