Douglas dynamics, inc (PLOW)
CashFlow / TTM
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

39,377

49,166

52,302

49,794

45,484

43,905

63,737

63,143

56,725

55,324

30,897

28,872

30,454

39,009

44,049

52,295

49,071

44,176

42,066

37,280

38,769

39,961

35,461

25,302

16,618

11,639

2,069

3,812

6,876

6,012

13,201

14,822

15,572

19,040

0

0

0

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

19,298

19,212

19,205

19,261

19,192

19,085

18,984

19,003

18,800

18,584

18,340

19,549

18,118

16,742

15,305

12,363

12,335

12,281

11,533

10,774

10,001

9,225

9,178

9,118

8,957

8,693

8,420

8,164

8,032

8,018

8,028

8,077

8,130

8,176

0

0

0

Inventory step up of acquired business included in cost of sales

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,956

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of deferred financing costs and debt discount

1,214

1,214

1,213

1,214

1,213

1,214

1,214

1,214

1,215

1,214

1,219

1,194

1,070

950

860

748

736

720

692

715

736

759

759

759

759

758

760

768

940

955

968

1,055

905

832

0

0

0

Loss on disposal of fixed assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

647

0

0

0

-

-

-

-

-

-

-

-

Amortization of debt discount

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Stock-based compensation

3,553

3,239

3,431

2,921

4,184

4,550

4,930

5,557

3,570

3,500

3,390

3,270

3,035

2,898

2,793

3,030

3,364

3,275

3,465

3,252

2,970

2,868

2,706

2,725

2,674

2,587

2,490

2,719

2,736

2,166

2,363

2,033

1,973

1,873

0

0

0

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

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Provision for losses on accounts receivable

1,458

1,361

1,073

1,108

456

531

497

712

1,529

1,475

1,411

1,134

345

208

356

343

238

305

576

576

559

577

337

345

292

329

214

130

259

259

-199

-134

-152

47

0

0

0

Deferred income taxes

-4,383

-2,123

2,815

6,458

8,812

9,551

-12,528

-14,703

-14,266

-15,242

7,143

6,834

5,544

5,413

5,322

3,514

4,221

5,807

-1,231

773

600

-326

11,510

11,698

10,808

10,728

7,801

7,400

7,868

8,090

2,468

6,621

6,680

6,497

0

0

0

Earnout liability

-217

-417

0

0

0

-

-

-

-

-

-

-

-

-1,128

16

361

457

623

693

1,068

1,043

947

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities:
Accounts receivable

-5,171

7,747

26,140

20,770

14,608

511

8,740

13,811

-2,443

1,154

-559

-290

-264

-2,419

-13,037

5,350

5,296

7,094

7,594

-4,064

-3,975

4,201

25,637

13,147

1,879

16,643

201

-12,590

3,942

-8,335

-12,527

-5,902

-1,506

-2,974

0

0

0

Inventories

1,145

-4,054

962

9,283

16,301

12,347

13,972

664

-3,108

-894

2,351

4,109

4,739

-605

-1,689

-3,489

2,776

5,292

4,476

10,854

9,722

3,963

454

-3,828

-2,350

-6,445

1,454

5,452

-1,642

6,287

3,313

1,920

6,612

524

0

0

0

Prepaid assets, refundable income taxes and other assets

583

2,140

-529

1,820

3,591

1,114

3,973

698

-3,980

-65

1,443

3,102

6,847

-1,699

1,837

1,101

-1,355

5,886

743

713

406

-2,085

-4,006

-5,267

-4,527

-1,717

3,737

5,940

5,275

5,459

1,123

709

3,268

-201

0

0

0

Accounts payable

778

-2,562

2,317

2,221

1,068

3,039

-803

-3,171

-527

-2,487

-906

1,646

2,024

-113

-675

3,588

-2

4,802

3,257

-114

61

-3,199

1,186

1,771

1,647

1,559

900

-1,592

-870

330

-1,731

-453

-1,702

2,193

0

0

0

Accrued expenses and other current liabilities

608

6,491

370

7,519

4,811

312

6,772

5,361

1,127

5,481

-1,317

-18

3,610

-3,434

-1,517

831

500

3,138

6,014

258

2,524

6,595

6,896

9,881

2,538

2,885

1,435

-2,158

101

-6,171

-3,355

-3,940

212

4,554

0

0

0

Deferred compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-156

-156

-156

-156

-191

-191

-192

-155

0

0

0

Benefit obligations and other long-term liabilities

7,251

7,548

-120

-10,821

-11,459

-9,319

-6,584

3,851

438

486

3,361

542

3,833

4,527

75

213

-513

-2,346

1,880

1,016

-154

482

-6,281

-5,659

-3,915

-3,047

988

-99

-358

-473

1,182

2,388

2,226

1,347

0

0

0

Net cash used in operating activities

73,793

77,296

54,916

46,870

38,329

58,181

49,119

64,008

76,356

66,354

58,040

54,967

55,642

69,920

79,598

74,324

63,690

56,465

59,958

51,921

54,849

53,747

40,837

56,335

49,620

32,248

23,990

20,833

18,500

15,619

30,825

33,551

25,934

47,728

0

0

0

Investing activities
Capital expenditures

13,068

11,533

11,189

11,062

9,152

9,690

8,649

8,496

7,564

7,563

7,962

8,182

9,971

9,830

9,983

11,519

9,920

10,009

9,054

5,933

5,218

5,254

4,338

3,917

3,222

2,775

2,110

1,893

1,852

1,446

1,871

2,549

2,543

2,373

0

0

0

Proceeds from sale of assets held for sale

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

80

80

98

97

67

0

0

0

Acquisition of businesses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

11,818

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-13,068

-11,533

-11,189

-11,062

-9,152

-9,690

-8,649

-8,281

-14,949

-14,948

-20,764

-197,126

-191,315

-191,174

-185,910

-15,406

-13,807

-21,827

-107,565

-100,557

-98,824

-90,929

-3,320

-2,899

-29,956

-29,509

-28,844

-28,627

-1,849

-1,366

-1,791

-2,451

-2,446

-2,306

0

0

0

Shares withheld on restricted stock vesting paid for employees' taxes

72

50

50

50

50

23

23

23

23

923

0

0

0

-

-

-

-

27

27

27

55

97

97

97

92

160

0

0

0

-

-

-

-

-

-

-

-

Proceeds from exercise of stock options

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,343

0

0

0

Collection of shareholders' notes receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

482

0

0

0

Payments of financing costs

-

-

-

-

-

-

-

-

-

1,608

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,471

0

0

0

Earnout payment

-

-

-

-

-

-

-

-

-

-5,487

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Dividends paid

25,378

25,183

24,971

24,759

24,577

24,383

23,789

23,178

22,577

21,974

21,841

21,717

21,585

21,451

21,128

20,812

20,500

20,173

20,039

19,892

19,739

19,598

19,454

19,200

18,945

18,699

18,535

18,434

18,335

18,231

18,149

18,012

17,877

25,793

0

0

0

Short-term borrowings (repayments), net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-13,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net revolver borrowings

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of long-term debt

22,482

32,685

32,836

32,988

33,139

33,140

33,140

33,140

33,144

3,148

3,168

3,188

2,874

2,560

2,230

1,900

1,900

1,900

112,322

112,135

111,947

111,760

1,152

1,152

1,152

1,152

1,150

1,150

1,150

11,150

11,176

11,512

132,425

122,450

0

0

0

Net cash provided by (used in) financing activities

-33,932

-57,918

-38,857

-30,797

-41,766

-57,546

-41,952

-60,017

-56,420

-33,140

-36,097

97,783

95,229

103,019

102,742

-22,601

-22,289

-21,989

47,191

53,914

54,227

41,513

-37,203

-48,449

-20,189

-7,011

6,987

6,088

-19,790

-29,549

-30,276

-27,475

-28,810

-26,139

0

0

0

Change in cash and cash equivalents

26,793

7,845

4,870

5,011

-12,589

-9,055

-1,482

-4,290

4,987

18,266

1,179

-44,376

-40,444

-18,235

-3,570

36,317

27,594

12,649

-416

5,278

10,252

4,331

314

4,987

-525

-4,272

2,133

-1,706

-3,139

-15,296

-1,242

3,625

-5,322

19,283

0

0

0

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

40,845

44,929

49,069

45,730

41,127

38,129

42,235

33,695

40,526

45,472

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-