Douglas dynamics, inc (PLOW)
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'11
Operating activities
Net loss

-10,086

11,560

12,429

25,474

-297

14,696

9,921

21,164

-1,876

34,528

9,327

14,746

-3,277

10,101

7,302

16,328

5,278

15,141

15,548

13,104

383

13,031

10,762

14,593

1,575

8,531

603

5,909

-3,404

-1,039

2,346

8,973

-4,268

6,150

3,967

9,723

-800

Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization

4,894

4,877

4,728

4,799

4,808

4,870

4,784

4,730

4,701

4,769

4,803

4,527

4,485

4,525

6,012

3,096

3,109

3,088

3,070

3,068

3,055

2,340

2,311

2,295

2,279

2,293

2,251

2,134

2,015

2,020

1,995

2,002

2,001

2,030

2,044

2,055

2,047

Inventory step up of acquired business included in cost of sales

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1,956

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of deferred financing costs and debt discount

303

304

303

304

303

303

304

303

304

303

304

304

303

308

279

180

183

218

167

168

167

190

190

189

190

190

190

189

189

192

198

361

204

205

285

211

131

Loss on disposal of fixed assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

647

-

-

-

-

-

-

-

-

Amortization of debt discount

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

17

Stock-based compensation

1,368

178

525

1,482

1,054

370

15

2,745

1,420

750

642

758

1,350

640

522

523

1,213

535

759

857

1,124

725

546

575

1,022

563

565

524

935

466

794

541

365

663

464

481

265

Mark-to-market adjustments on derivatives not classified as hedges

1,413

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Provision for losses on accounts receivable

204

373

97

784

107

85

132

132

182

51

347

949

128

-13

70

160

-9

135

57

55

58

406

57

38

76

166

65

-15

113

51

-19

114

113

-407

46

96

312

Deferred income taxes

-1,250

-2,565

-50

-518

1,010

2,373

3,593

1,836

1,749

-19,706

1,418

2,273

773

2,679

1,109

983

642

2,588

-699

1,690

2,228

-4,450

1,305

1,517

1,302

7,386

1,493

627

1,222

4,459

1,092

1,095

1,444

-1,163

5,245

1,154

1,261

Earnout liability

-17

-200

0

0

-217

-

-

-

-

-

-

-

-

-1,077

-183

66

66

67

162

162

232

137

537

137

136

-

-

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities:
Accounts receivable

-39,014

-64,987

38,628

60,202

-26,096

-46,594

33,258

54,040

-40,193

-38,365

38,329

37,786

-36,596

-40,078

38,598

37,812

-38,751

-50,696

56,985

37,758

-36,953

-50,196

45,327

37,847

-28,777

-28,760

32,837

26,579

-14,013

-45,202

20,046

43,111

-26,290

-49,394

26,671

47,507

-27,758

Inventories

34,428

-12,464

-3,510

-17,309

29,229

-7,448

4,811

-10,291

25,275

-5,823

-8,497

-14,063

27,489

-2,578

-6,739

-13,433

22,145

-3,662

-8,539

-7,168

24,661

-4,478

-2,161

-8,300

18,902

-7,987

-6,443

-6,822

14,807

-88

-2,445

-13,916

22,736

-3,062

-3,838

-9,224

16,648

Prepaid assets, refundable income taxes and other assets

2,119

-310

626

-1,852

3,676

-2,979

2,975

-81

1,199

-120

-300

-4,759

5,114

1,388

1,359

-1,014

-3,432

4,924

623

-3,470

3,809

-219

593

-3,777

1,318

-2,140

-668

-3,037

4,128

3,314

1,535

-3,702

4,312

-1,022

1,121

-1,143

843

Accounts payable

1,161

-968

-1,485

2,070

-2,179

3,911

-1,581

917

-208

69

-3,949

3,561

-2,168

1,650

-1,397

3,939

-4,305

1,088

2,866

349

499

-457

-505

524

-2,761

3,928

80

400

-2,849

3,269

-2,412

1,122

-1,649

1,208

-1,134

-127

2,246

Accrued expenses and other current liabilities

-7,334

2,073

-5,020

10,889

-1,451

-4,048

2,129

8,181

-5,950

2,412

718

3,947

-1,596

-4,386

2,017

7,575

-8,640

-2,469

4,365

7,244

-6,002

407

-1,391

9,510

-1,931

708

1,594

2,167

-1,584

-742

-1,999

4,426

-7,856

2,074

-2,584

8,578

-3,514

Deferred compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

1

-157

0

0

1

-157

-35

0

0

-120

Benefit obligations and other long-term liabilities

-2,203

5,072

3,368

1,014

-1,906

-2,596

-7,333

376

234

139

3,102

-3,037

282

3,014

283

254

976

-1,438

421

-472

-857

2,788

-443

-1,642

-221

-3,975

179

102

647

60

-908

-157

532

1,715

298

-319

-347

Net cash used in operating activities

-9,080

98,465

-20,849

5,257

-5,577

76,085

-28,895

-3,284

14,275

67,023

-14,006

9,064

4,273

58,709

-17,079

9,739

18,551

68,387

-22,353

-895

11,326

71,880

-30,390

2,033

10,224

58,970

-14,892

-4,682

-7,148

50,712

-18,049

-7,015

-10,029

65,918

-15,323

-14,632

11,765

Investing activities
Capital expenditures

2,304

3,732

2,350

4,682

769

3,388

2,223

2,772

1,307

2,347

2,070

1,840

1,306

2,746

2,290

3,629

1,165

2,899

3,826

2,030

1,254

1,944

705

1,315

1,290

1,028

284

620

843

363

67

579

437

788

745

573

267

Proceeds from sale of assets held for sale

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

3

77

0

18

2

47

Acquisition of businesses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

3,887

0

7,931

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-2,304

-3,732

-2,350

-4,682

-769

-3,388

-2,223

-2,772

-1,307

-2,347

-1,855

-9,440

-1,306

-8,163

-178,217

-3,629

-1,165

-2,899

-7,713

-2,030

-9,185

-88,637

-705

-297

-1,290

-1,028

-284

-27,354

-843

-363

-67

-576

-360

-788

-727

-571

-220

Shares withheld on restricted stock vesting paid for employees' taxes

72

0

0

0

50

0

0

0

23

0

0

0

923

-

-

-

-

0

0

0

27

0

0

28

69

0

0

23

137

-

-

-

-

-

-

-

-

Proceeds from exercise of stock options

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

66

0

651

626

Collection of shareholders' notes receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

445

37

Payments of financing costs

-

-

-

-

-

-

-

-

-

0

676

0

932

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

17

0

3,403

51

Earnout payment

-

-

-

-

-

-

-

-

-

0

0

0

-5,487

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Dividends paid

6,487

6,304

6,309

6,278

6,292

6,092

6,097

6,096

6,098

5,498

5,486

5,495

5,495

5,365

5,362

5,363

5,361

5,042

5,046

5,051

5,034

4,908

4,899

4,898

4,893

4,764

4,645

4,643

4,647

4,600

4,544

4,544

4,543

4,518

4,407

4,409

12,459

Short-term borrowings (repayments), net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-33,500

33,500

0

-13,000

-

-

-

-

-

-

-

-

-

-

-

-

Net revolver borrowings

30,000

-

30,000

11,000

16,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of long-term debt

20,581

634

633

634

30,784

785

785

785

30,785

785

785

789

789

805

805

475

475

475

475

475

475

110,897

288

287

288

289

288

287

288

287

288

287

10,288

313

624

121,200

313

Net cash provided by (used in) financing activities

2,860

-63,938

23,058

4,088

-21,126

-44,877

31,118

-6,881

-36,906

-29,283

13,053

-3,284

-13,626

-32,240

146,933

-5,838

-5,836

-32,517

21,590

-5,526

-5,536

36,663

28,313

-5,213

-18,250

-42,053

17,067

23,047

-5,072

-28,055

16,168

-2,831

-14,831

-28,782

18,969

-4,166

-12,160

Change in cash and cash equivalents

-8,524

30,795

-141

4,663

-27,472

27,820

0

-12,937

-23,938

35,393

-2,808

-3,660

-10,659

18,306

-48,363

272

11,550

32,971

-8,476

-8,451

-3,395

19,906

-2,782

-3,477

-9,316

15,889

1,891

-8,989

-13,063

22,294

-1,948

-10,422

-25,220

36,348

2,919

-19,369

-615

Non-cash operating and financing activities
Truck chassis inventory acquired through floorplan obligations

6,215

3,955

18,489

12,186

10,299

8,095

15,150

7,583

7,301

12,201

6,610

14,414

12,247

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-