MasTec, Inc. MTZ Cash Flow

Mastec, inc. (MTZ)

CashFlow / Quarterly

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
Cash flows from operating activities:
Net income
36,100	100,700	130,100	120,200	43,100	31,800	120,500	80,437	26,463	160,740	64,201	83,332	40,627	55,949	56,529	24,438	-2,881	-76,937	7,442	-3,808	-6,400	20,694	49,125	33,588	12,142	41,595	46,201	35,047	18,373	36,340	26,818	30,088	14,170	8,561	31,830	44,485	21,096
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation
53,100	61,300	55,200	64,800	54,200	56,400	54,900	51,660	49,940	49,616	50,102	45,378	42,904	42,666	42,585	40,656	39,008	41,614	42,196	43,252	42,600	42,456	41,747	36,755	33,494	37,815	37,756	33,602	31,753	26,191	22,821	21,992	20,954	21,676	19,858	18,585	15,109
Amortization of intangible assets
7,400	-	-	-	4,800	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash interest expense, net
725	1,528	954	284	453	748	385	726	725	725	760	745	870	785	736	737	736	597	712	685	639	1,303	1,410	2,280	2,362	2,320	2,361	2,289	3,747	2,171	2,171	2,125	2,128	2,092	1,997	1,738	1,725
Non-cash stock-based compensation expense
4,049	4,315	4,192	4,220	3,720	3,441	3,515	3,389	3,182	5,105	3,385	3,393	3,773	3,781	3,886	3,882	3,523	2,909	3,166	2,745	3,575	4,366	4,104	4,220	3,260	3,297	3,030	4,260	2,357	1,082	1,180	1,178	993	794	961	936	882
Excess tax benefit from stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3	53	0	234	108	140	3,246	-131	2,984	559	903	457	232	-27	97	3,824	527	537	2,878
(Benefit from) provision for deferred income taxes
-12,614	13,614	22,736	-15,089	899	4,804	51,577	7,071	-7,243	-73,911	15,604	68,181	8,403	-2,596	-2,494	5,524	-4,369	13,001	950	-3,333	-6,693	9,462	-6,866	7,879	3,281	-2,906	2,330	10,735	-3,626	-	-	-	-	-	-	-	-
Income (Loss) from Equity Method Investments
7,800	7,600	7,000	6,500	6,300	4,800	7,700	5,815	5,585	6,195	7,399	6,060	1,646	-21	-6	489	3,066	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gains on sales of assets, net
2,407	4,281	3,553	4,022	2,052	4,031	5,101	4,162	2,758	2,600	1,462	1,816	57	-1,579	799	-2,202	1,025	5,572	1,192	986	441	2,366	1,475	971	1,622	2,644	-2,904	1,069	683	-	-	-	-	-	-	532	-118
Provision for doubtful accounts
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	727	548	-	704	264	510
Provision for inventory obsolescence
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	976	0	-	-	-	-
Gain on sale of property and equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	574	324	-	-	-	-
Write-off of unamortized financing costs on redeemed debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-
Other non-cash items, net
-734	1,253	-1,384	-144	3,043	-3,855	-2,369	-2,142	-544	7,698	-1,730	-12,902	-288	-2,749	147	-1,465	-633	303	-1,047	-263	-473	-4,819	-698	185	-623	-	-	-	-	-	-	-	-	-	-	-	-
Changes in assets and liabilities, net of acquisitions:
Accounts receivable, net of allowance
-48,337	-112,330	116,292	-154,854	37,831	-428,692	292,177	374,476	97,240	83,108	-54,435	462,541	-73,723	-56,171	123,218	124,380	54,992	-109,942	-92,949	-9,378	-150,006	-290,723	114,102	-20,225	33,073	-66,680	92,444	150,069	28,497	-55,907	-12,755	244,251	1,724	-46,154	131,919	137,935	-42,861
Contract assets
-26,311	-	-	-	-6,376	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Inventories
-5,932	-2,758	-21,558	9,955	-9,690	-7,659	28,475	7,899	651	-2,608	-5,284	-6,891	-21,404	3,332	-7,554	17,364	9,090	50	-13,050	2,922	-12,278	-14,932	-9,587	23,827	13,313	7,003	-3,360	-4,957	-12,167	-7,205	-15,972	7,945	-216	-4,813	7,459	19,173	8,708
Deferred tax assets and liabilities, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7,070	6,707	-10,222	-	-9,620	-15,607	-13,589
Other assets, current and long-term portion
-17,906	6,461	-10,454	-3,789	-2,398	5,786	24,454	-3,916	-55,033	55,191	-19,386	83,476	-2,190	3,382	-15,599	-3,590	-28,843	-2,674	14,938	-3,864	2,841	19,423	-1,929	3,335	-6,608	12,362	-2,017	-9,615	-6,978	390	5,815	2,328	-1,760	27,896	-144	-2,535	1,740
Accounts payable and accrued expenses
34,058	-197,501	-4,286	108,136	-134,491	-116,203	179,427	156,037	32,474	-89,080	18,988	188,096	-74,121	-102,584	48,773	100,713	23,245	-85,694	-39,412	41,365	-78,700	-102,913	24,235	5,724	-14,540	-54,270	111,915	19,713	-4,844	-100,004	17,843	151,127	7,319	-20,368	1,784	72,361	19,322
Contract liabilities
2,603	21,016	-44,825	-32,227	3,821	37,843	-53,956	27,636	16,888	100,274	4,395	-78,206	19,612	-4,450	35,437	-46,894	28,038	26,083	1,932	-25,590	-7,510	-37,216	15,991	-848	-12,247	11,549	-27,822	27,642	-19,596	19,018	6,575	4,393	-14,335	27,204	1,474	-11,381	-52,009
Book overdrafts
-	-	-	-	-	-	-	-	-	-	5,157	-7,573	-2,187	-	-1,192	13,787	-3,712	12,529	-9,047	-6,644	7,861	20,310	-9,044	-2,621	1,266	3,572	-5,198	13,959	-5,970	5,761	-355	-15,723	10,433	-	-	-	-
Other liabilities, current and long-term portion
-11,076	5,093	19,301	20,894	7,375	11,000	2,709	-916	11,729	-28,255	32,052	-23,579	18,390	39,978	15,398	4,770	-29,040	-20,641	461	-15,743	3,969	-4,921	8,469	-3,031	-5,389	-16,212	18,786	-14,301	11,542	-13,794	12,355	6,889	5,855	-5,782	2,034	-2,839	444
Net cash provided by (used in) operating activities
203,300	108,900	89,900	398,300	-46,800	503,200	3,600	-60,301	83,501	-22,358	266,618	-254,333	154,173	78,452	98,653	12,637	15,851	106,811	99,313	42,489	118,800	241,992	25,700	75,713	-20,394	71,146	106,399	-3,273	26,130	57,838	118,914	-47,689	43,445	83,827	-68,489	-44,927	50,321
Cash flows from investing activities:
Cash paid for acquisitions, net of cash acquired
0	84,900	0	900	93,700	0	0	2,371	4,329	5	78,551	37,444	0	-	-	-	-	0	0	0	148	182,642	0	139,070	23,831	1,969	26,054	115,891	4,653	101,963	1,634	11,364	4,498	-44,686	7,702	60,191	17,474
Capital expenditures
60,600	41,400	27,600	23,100	34,400	46,200	46,200	65,455	22,545	40,070	26,477	27,952	28,901	28,064	25,157	50,550	13,343	13,644	22,335	28,731	19,700	18,292	23,396	32,012	35,554	24,877	43,884	31,676	25,851	29,355	21,841	14,393	14,097	14,714	25,023	17,353	14,620
Proceeds from sale of property and equipment
8,400	7,900	7,500	10,900	8,700	9,700	15,800	8,518	5,382	6,415	6,216	6,858	511	4,415	-3,339	7,926	2,237	4,169	5,617	2,746	1,400	4,451	3,452	5,379	3,373	7,570	3,165	1,712	3,411	1,577	2,000	1,794	2,014	1,771	1,940	1,182	1,334
Payments for other investments
12,000	0	600	2,800	2,200	3,200	600	20,921	14,779	-5	2,623	21,135	53,347	23,311	6,123	1,221	1,514	18,181	44,149	33,191	31,959	3,046	1,619	-1,671	1,098	20,025	1,079	-4,931	0	-	-	-	-	-	-	-	-
Proceeds from other investments
600	0	0	4,300	10,400	0	0	-15	5,415	10,384	1,298	0	12,118	0	430	695	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other investing activities, net
-4,800	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Investments in life insurance policies
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1	-76	360
Net cash used in investing activities
-58,700	-118,300	-20,700	-11,600	-111,200	-39,700	-31,000	-80,244	-30,856	-23,271	-100,137	-79,673	-69,619	-46,960	-34,189	-47,252	-12,620	41,750	-60,867	-59,183	-50,400	-196,557	-21,563	-164,032	-57,110	-23,010	-72,184	-140,924	-27,093	-129,741	-21,475	73,481	-16,581	31,742	-30,784	-71,686	-31,120
Cash flows from financing activities:
Proceeds from credit facilities
675,900	840,200	557,800	761,500	866,400	995,600	783,700	822,012	816,888	696,570	849,200	791,487	361,743	494,608	502,529	348,540	335,747	372,821	485,116	404,987	439,507	1,066,348	503,783	581,968	233,872	382,886	266,488	268,066	231,600	327,368	209,265	255,850	166,700	-	-	-	-
Repayments of credit facilities
671,800	754,600	618,000	1,083,200	670,800	1,362,100	622,800	627,501	747,099	616,891	971,309	421,988	447,112	477,199	545,290	283,898	320,742	501,955	498,820	336,526	404,776	984,461	491,438	306,364	157,349	389,531	301,474	192,996	365,600	203,368	263,065	222,800	195,950	-	-	-	-
Repayments of other borrowings, net
0	-12,100	-300	6	-6	-1,600	0	-30,412	14,612	-15,480	1,789	8,792	1,499	2,506	2,195	-550	6,543	3,275	3,885	3,568	3,115	-127	8,607	4,390	2,830	3,459	5,676	7,141	11,429	5,945	4,968	5,219	5,323	4,858	3,578	2,745	2,775
Proceeds from issuance of senior notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	400,000	0	0	0	0	-	-	-	-
Repayment of senior convertible notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	150,000	0	0	0	0	-	-	-	-
Payments of finance lease obligations
30,900	29,300	20,400	21,400	17,200	17,600	16,700	19,788	18,112	18,952	17,890	17,946	12,912	16,152	14,322	13,331	14,175	16,408	12,218	16,359	12,110	13,229	15,335	12,067	10,956	10,826	11,075	13,447	7,692	6,254	5,138	5,483	4,185	3,532	3,587	4,839	4,500
Payments to Noncontrolling Interests
-	-	-	-	-	-	-	-	559	-	0	0	1,280	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from stock-based awards
1,500	1,300	1,100	1,200	1,100	900	1,200	984	916	-	-	-	-	262	600	1,521	1,817	-177	-106	924	925	795	896	873	-1,451	-	-	-	-	3,568	679	-452	1,218	621	1,248	4,122	6,551
Payments for stock-based awards
600	-	-	-	12	-	-	-	-	-	-	-	761	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments for debt extinguishment, call premiums
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-
Payments of financing costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	157	1,080	218	1,853	150	717	10,968	4	-2	63	52	520	5,069	0	1,000
Repurchases of common stock
119,400	0	0	0	5,700	115,500	70,100	37,420	90,880	1,600	0	0	0	-	-	-	-	0	0	16,739	83,261	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefit from stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3	53	0	234	108	140	3,246	-131	2,984	559	903	457	232	-27	97	3,824	527	537	2,878
Other financing activities, net
-	-	-	-	-	-	-	-	-	1	-61	-267	-5,973	-870	253	884	248	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash (used in) provided by financing activities
-145,200	37,400	-85,200	-370,600	173,800	-504,000	75,200	121,158	-53,458	42,511	-141,001	336,584	-107,794	-1,857	-63,675	39,694	-3,648	-151,760	-36,792	-7,568	-62,800	-28,303	-12,189	94,853	64,314	-28,151	-45,128	47,907	84,365	87,531	-103,261	-29,004	-27,062	-111,927	34,889	-525	1,154
Effect of currency translation on cash
900	400	-100	-100	0	-600	100	-222	722	-337	112	-35	160	-295	-120	-206	-682	1,029	745	358	-1,000	-140	-805	129	-476	94	156	-214	-60	-44	191	-105	49	275	-109	3	32
Net increase in cash and cash equivalents
200	28,300	-16,100	16,000	15,800	-41,100	47,800	-19,509	-91	-3,455	25,592	2,543	-23,080	29,340	669	4,873	-1,099	-2,170	2,399	-23,936	4,632	16,992	-8,857	6,663	-13,666	20,079	-11,031	-96,290	83,402	15,719	-5,822	-3,212	-198	3,642	-64,384	-117,138	20,355
Supplemental cash flow information:
Interest paid
21,479	11,401	30,468	16,882	26,220	15,442	29,720	14,713	21,355	11,994	21,420	7,720	18,023	7,265	17,786	6,819	15,828	6,391	18,177	7,204	15,633	7,873	14,859	7,817	12,430	6,680	13,050	7,081	10,720	6,195	7,153	7,303	6,423	7,049	7,565	5,994	6,999
Income tax (refunds) payments, net
-287	32,746	34,085	36,580	2,837	-8,714	1,239	14,763	-28,738	1,120	900	74,861	1,772	44,201	8,010	4,836	2,295	-3,305	412	3,956	1,473	30,552	16,522	17,973	11,928	29,782	8,097	33,380	8,245	21,749	18,323	17,012	1,884	9,233	9,921	7,694	955
Supplemental disclosure of non-cash information:
Additions to property and equipment from finance leases
26,932	42,698	53,294	69,906	40,258	27,047	8,950	13,793	25,755	20,488	19,653	75,998	33,916	12,077	9,534	3,481	0	5,787	1,946	12,073	4,011	9,130	10,914	36,334	8,240	3,593	26,115	33,620	23,002	30,731	3,188	22,815	3,914	2,126	3,274	238	1,774
Accrued capital expenditures
-	-	-	-	-	-	-	-	-	-	-154	470	1,029	-2,537	-1,971	-716	6,806	973	-3,113	1,677	3,627	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Conversion of leases from operating to capital
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	639	23,366
Exchange of senior convertible notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	202,322