Mgp ingredients, inc. (MGPI)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Sep'10
Cash Flows from Operating Activities
Net income

9,842

12,947

8,215

7,911

9,720

11,822

9,008

7,527

8,927

12,639

14,137

6,369

8,678

8,285

9,532

6,308

7,059

6,479

6,771

7,871

5,070

7,563

6,228

5,099

4,785

-361

-6,325

280

1,477

180

418

-850

1,876

16,144

-5,509

-10,258

701

5,002

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

3,125

3,035

2,935

2,792

2,810

2,833

2,703

2,897

2,929

2,867

2,887

2,816

2,738

2,643

2,627

2,679

3,304

3,122

3,076

3,093

3,091

3,123

3,094

3,066

3,042

3,054

3,004

2,983

2,968

2,888

2,837

2,908

2,935

2,660

2,387

2,365

2,395

2,007

Gain on sale of bioplastics manufacturing business

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1,453

-

-

-

-

-

-

-

-

-

Gain on property insurance recoveries

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

4,055

-

-

-

-

-

Gain on sale of assets

9

-

0

0

138

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-9

889

0

-48

-

-

-

-

289

Share-based compensation

1,139

552

485

1,142

1,125

635

496

777

1,191

444

393

709

1,028

864

304

582

652

-3

727

485

205

342

317

122

149

-38

207

410

353

341

209

66

353

334

176

319

290

313

Deferred income taxes, including change in valuation allowance

101

-1,204

405

402

145

-2,589

195

450

279

3,064

-221

1,067

-490

535

-467

-127

-622

-2,754

-1,652

1,030

2,027

-355

-1,215

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities:
Equity method investment loss

-

-

-

-

-

-

-

-

-

0

0

-819

471

6,296

-664

-1,079

-517

12,112

-1,563

-3,095

-1,352

-2,850

-1,621

-2,332

-3,334

-758

91

-71

942

465

130

143

-437

-2,279

2,830

2,296

-124

-1,589

Distributions received from equity method investee

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

3,300

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities:
Receivables, net

11,453

377

-1,050

-2,281

5,088

-11,194

14,233

1,226

185

-3,104

2,521

-1,457

10,302

-11,089

3,176

2,794

534

-989

-5,094

3,887

194

1,122

-3,187

2,866

4,050

-3,982

639

-3,188

-980

5,031

-5,070

-424

7,984

-1,199

-3,169

877

5,352

-4,575

Restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-12

-117

-2,628

-3,394

-1,454

13,717

-7,140

-140

678

971

Inventory

5,649

10,738

8,186

6,677

2,561

1,423

859

7,611

5,727

3,497

4,101

5,563

1,130

3,196

4,016

3,212

9,682

6,493

7,191

7,363

3,213

2,976

-482

1,072

-4,042

-1,884

-4,233

2,036

2,539

2,027

-2,020

2,207

3,236

2,174

1,908

-6,430

2,545

2,622

Prepaid expenses

2,339

402

-188

-429

943

-565

-917

-385

1,005

-326

-324

406

742

905

-13

-559

289

-1,177

397

99

564

-256

-662

307

942

-412

-604

491

654

-882

492

-280

409

-339

95

408

-318

-285

Income taxes payable (refundable)

-3,100

-1,863

-2,554

3,043

1,649

-1,299

477

602

-1,048

-

-

-

-

-

-

-

-

-

-

-

-

163

49

-82

-208

240

-9

-45

38

-172

-100

68

-120

-

-

-

-

-

Accounts payable

1,635

2,438

2,552

1,093

-3,976

911

1,653

-2,868

-2,238

5,347

4,864

272

-943

162

-1,234

2,130

-4,236

601

60

2,173

819

2,260

-4,689

-147

-3,352

3,080

272

-4,384

3,603

3,729

-7,033

882

-1,880

3,082

-2,670

3,082

3,051

-1,067

Accounts payable to affiliate, net

-

-

-

-

-

-

-

-

-

0

-3,181

374

-542

865

-3

185

11

-1,779

-251

303

685

-91

156

704

1,360

687

517

-721

-3,287

1,436

-2,039

-176

-1,380

1,547

-1,546

325

2,079

-1,279

Accrued expenses

1,003

-1,311

-486

390

-3,140

3,174

609

777

-4,009

1,488

1,724

693

-1,627

834

573

1,144

-3,958

13

459

3,127

-1,248

-78

673

983

-1,951

1,786

429

520

529

-718

253

154

904

-261

-389

151

132

-2,207

Income taxes payable/refundable

-

-

-

-

-

-

-

-

-

-

2,898

-3,665

3,239

-

-699

-4,055

4,112

-

-1,176

-105

962

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-167

126

-22

Deferred credits

-81

-83

-83

-83

-83

-122

-102

-145

-217

-210

-207

-209

-201

-201

125

-174

-174

-177

-180

-180

-160

-160

161

328

-155

132

-165

-78

-97

-182

-149

-149

-150

-151

-152

-441

-156

-140

Other, net

-

-

-

-

-

-193

-506

-3

114

22

11

79

177

-65

418

57

67

-43

81

538

127

243

125

117

214

196

200

238

242

255

668

-103

261

161

-85

546

67

-28

Change in derivatives

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-458

2,222

1,401

-1,131

-2,342

2,562

-

1,550

-975

Other, net

-128

-

-

-

11

-

-

-

-

-

-

-

-

-

-

-

-

-195

1

-167

-120

-142

-3

187

230

23

-6

0

0

-

-

-

-

-1,114

570

-711

-831

-387

Net cash provided by (used in) operating activities

542

7,309

9,343

6,859

-3,789

31,822

416

364

879

17,024

5,604

11,785

-942

17,877

1,626

1,859

-1,641

5,864

3,695

2,982

6,121

7,057

5,878

3,519

-642

13,296

2,043

-593

2,554

2,427

15

3,503

-10,971

4,345

-13,948

4,672

-549

-6,594

Cash Flows from Investing Activities
Cash Flows from Investing Activities
Additions to property, plant, and equipment

5,645

6,355

4,183

2,451

3,741

12,176

5,805

6,087

6,978

7,425

3,697

3,479

6,454

5,256

6,578

3,035

3,053

10,483

11,963

3,050

5,030

2,033

1,326

1,412

2,182

2,637

1,814

959

798

1,517

3,467

3,761

484

1,118

384

4,101

5,010

961

Acquisition of business

2,750

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Investments in/ advances to equity method investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

500

-

-

-

-

-

Divestiture of equity method investment, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

2,797

-

-

-

-

-

-

-

-

-

Deferred compensation plan investments

0

2,390

-12

-11

-1,166

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from property insurance recoveries

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-9,103

-

-

-

-

-

Proceeds from sale of property

366

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

48

983

0

2,232

18

61

-

-

-

Other, net

160

-

-

-

0

-

-

-

62

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-8,189

-6,367

-4,195

-2,462

-4,907

-12,176

-5,805

-6,025

-7,040

-7,439

18,850

-3,180

-6,454

-6,455

-5,370

-2,805

-3,053

-10,483

-11,963

-3,050

-5,030

5,035

61

-1,412

-2,182

-2,637

-1,814

-959

1,999

-901

-2,484

-3,761

10,351

-12,001

-323

-4,101

-5,010

-961

Cash Flows from Financing Activities
Cash Flows from Financing Activities
Payment of dividends and dividend equivalents

2,060

1,715

1,714

1,713

1,714

1,375

1,375

1,375

1,375

688

15,316

688

688

344

344

1,378

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of treasury stock

4,395

-

3

0

5,467

-

142

0

2,073

-

246

0

1,131

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of treasury stock for tax withholding on equity-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

0

1,518

0

0

-

-

-

-

71

64

433

104

540

0

0

0

-

-

-

-

-

-

-

-

-

Exercise of stock options

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-182

84

-612

64

-

Loan fees paid related to borrowings

1,148

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments on long-term debt

100

98

96

97

95

93

94

92

93

90

91

88

89

87

86

1,735

438

438

404

401

398

393

391

387

384

395

433

429

426

423

419

416

413

411

474

175

176

174

Proceeds from credit agreement - revolver

54,700

3,300

1,515

1,600

11,025

6,200

5,820

9,205

7,741

5,350

8,113

1,967

10,500

3,776

6,344

8,965

8,099

4,967

19,890

149

1,086

12,556

14,907

19,907

14,776

12,481

23,995

30,186

28,850

27,850

28,144

27,339

43,756

60,260

104,982

89,234

86,056

62,335

Payments on credit agreement - revolver

-

-

-

-

-

-

-

-

-

14,900

37,335

1,885

2,765

13,198

2,206

3,306

3,646

1,947

253

400

738

18,543

21,259

19,353

14,321

19,348

23,791

27,289

32,977

28,325

25,156

25,751

43,106

51,988

96,770

90,574

80,144

60,818

Other, net

0

2

0

0

-78

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loan fees incurred with borrowings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

46

68

-

0

57

291

-

15

51

0

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by financing activities

46,997

-2,030

-2,913

-2,235

3,671

-14,621

3,109

6,818

4,200

-13,614

-25,252

-694

5,827

-9,853

2,190

2,500

3,947

5,240

4,033

-1,962

-341

-6,451

-6,822

-1,224

-33

-7,802

-229

1,552

-4,553

-1,526

2,469

258

237

7,053

7,654

6,319

5,800

1,343

Increase (decrease) in cash and cash equivalents

39,350

-1,088

2,235

2,162

-5,025

5,025

-2,280

1,157

-1,961

-4,029

-798

7,911

-1,569

1,569

-1,554

1,554

-747

621

-4,235

-2,030

750

5,641

-883

883

-2,857

2,857

0

0

0

0

0

0

-383

-603

-6,617

6,890

241

-6,212