ROWAN COMPANIES PLC RDC Cash Flow

Rowan companies plc (RDC)

CashFlow / Yearly

Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09	Dec'08	Dec'07
CASH PROVIDED BY OPERATIONS:
Net income (loss)
-347,400	72,700	320,600	93,300	-114,900	252,576	180,602	736,841	279,995	367,504	427,628	483,800
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization
388,900	403,700	402,900	392,700	322,600	271,008	247,900	204,872	186,563	171,445	141,395	118,796
Equity in earnings of unconsolidated subsidiary
10,300	900	0	0	-	-	-	-	-	-	-	-
Deferred income taxes
-68,100	24,700	-37,900	-	-182,500	-33,559	-4,649	-21,492	45,164	15,771	-	-
Deferred income taxes
-	-	-	-1,100	-	-	-	-	-	-	51,070	51,186
Pension and other postretirement benefits (income) expense
-9,000	12,500	15,000	34,000	25,100	32,010	39,484	20,115	-33,960	-39,664	32,479	37,170
Share-based compensation expense
24,000	29,000	34,600	33,600	34,500	33,931	24,808	22,088	15,578	13,034	15,834	9,326
Gain on sale of assets to unconsolidated subsidiary
65,800	157,400	0	0	-	-	-	-	-	-	-	-
Loss on disposals of property and equipment
-12,100	-9,400	-8,700	7,700	3,700	20,119	2,502	4,100	-788	5,748	30,701	40,506
Gain on sale of land drilling operations
-	-	-	-	-	-	-	212,891	0	0	-	-
Gain on sale of manufacturing operations
-	-	-	-	-	-	-	670,614	0	0	-	-
Write-off of deferred debt issuance costs
-	-	-	-	-	-	690	0	0	-	-	-
Noncash loss on debt extinguishment
-	-	-	-	-	0	-	-	-	-	-	-
Contingent payment derivative
0	-100	6,100	0	0	-	-	-	-	-	-	-
Non-cash interest income from unconsolidated subsidiary (receipt in kind)
12,000	0	0	-	-	-	-	-	-	-	-	-
Asset impairment charges
0	0	34,300	329,800	574,000	4,453	12,038	8,000	42,024	-	-	-
Cash loss on extinguishment of debt
0	0	-24,000	-1,000	-	-	-	-	-	-	-	-
Other
8,100	1,500	3,700	500	0	-	-	-	-	-	-	-
Material charge
-	-	-	-	-	-	-	-	-	0	62,392	-
Estimated net benefits from income tax claims
-	-	-	-	-	-	-	-	-	-25,392	0	0
Receivables - trade and other
7,200	-82,900	-109,200	-134,700	200,600	-30,784	105,762	-22,825	34,268	-147,340	-6,777	-59,032
Goodwill impairment
-	-	-	-	-	-	-	-	-	-	13,606	0
Gain on hurricane-related event
-	-	-	-	-	-	-	-	-	-	37,088	0
Inventories
-	-	-	-	-	-	-	104,468	-65,177	-92,357	-155,164	-111,268
Prepaid expenses and other current assets
6,100	-14,200	-9,200	-600	-16,300	-9,583	9,879	-303	-9,208	17,278	1,703	1,138
Accounts payable
2,800	1,900	-4,000	23,200	-20,600	32,373	-8,608	44,784	-34,799	-134,648	128,897	-57,144
Accrued income taxes
-12,300	-3,800	-3,400	10,600	4,900	-17,714	16,210	-6,097	-30,555	-17,327	32,062	23,073
Billings in excess of costs and estimated profits on uncompleted contracts
-	-	-	-	-	-	-	29,493	-17,311	-31,893	-12,748	-1,284
Other current liabilities
-25,100	7,800	-27,200	-11,900	72,900	-12,441	17,873	10,263	6,381	3,209	18,105	14,810
Other postretirement benefit claims paid
1,400	18,400	7,900	4,400	4,100	3,470	3,811	2,926	3,588	3,495	-3,017	-2,824
Contributions to pension plans
24,200	29,300	22,500	11,400	54,800	18,860	42,055	53,394	57,266	36,248	-31,749	-10,811
Deferred revenue
5,500	-112,800	63,700	-3,100	-18,300	2,175	16,120	41,428	14,048	-34,688	63,490	-35,634
Net changes in other noncurrent assets and liabilities
12,600	38,000	-12,700	15,300	27,800	-60,446	-15,250	-29,649	12,937	-487	-16,948	11,747
Net cash provided by (used in) operations
-160,100	299,800	929,600	999,100	423,000	623,176	393,709	94,679	508,162	544,094	694,469	432,543
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures
169,200	100,600	117,600	722,900	1,958,200	607,311	685,256	1,517,674	490,560	566,383	829,156	462,640
Purchase of rigs
70,800	0	0	-	-	-	-	-	-	-	-	-
Payments to acquire treasury shares
-	-	-	-	-	-	-	125,013	0	0	1,554	-979
Deposit on purchase of rigs
0	-7,700	0	0	-	1,820	0	0	-	-	-	-
Investment in unconsolidated subsidiary
0	30,000	0	0	-	-	-	-	-	-	-	-
Contributions to unconsolidated subsidiary for note receivable
271,300	357,700	0	0	-	-	-	-	-	-	-	-
Proceeds from sale of assets to unconsolidated subsidiary
266,000	357,700	0	0	-	-	-	-	-	-	-	-
Repayments of note receivable from unconsolidated subsidiary
98,500	87,500	0	0	-	-	-	-	-	-	-	-
Proceeds from disposals of property and equipment
12,700	3,300	6,200	19,400	22,000	44,550	10,500	5,734	3,267	8,592	56,108	45,806
Proceeds from sale of manufacturing operations, net
-	-	-	-	-	-	-	1,041,861	0	0	-	-
Proceeds from sale of land drilling operations, net
-	-	-	-	-	-	-	513,619	0	0	-	-
Decrease in restricted cash
-	-	-	-	-	-	-	-15,265	15,265	0	-50,000	-106,077
Net cash used in acquisition of SKDP
-	-	-	-	-	-	-	-	17,681	0	0	-
Proceeds from hurricane-related event
-	-	-	-	-	-	-	-	-	-	41,550	0
Net cash provided by (used in) investing activities
-134,100	-47,500	-111,400	-703,500	-1,936,200	-562,761	-674,756	58,805	-520,239	-557,791	-681,498	-310,757
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from borrowings
0	0	500,000	220,000	793,400	0	1,104,929	0	395,517	491,729	80,000	0
Reductions of long-term debt
0	170,000	511,800	317,900	0	0	238,453	52,166	-	-	-	-
Payment of debt extinguishment costs
0	0	24,000	1,000	-	-	-	-	-	-	-	-
Dividends paid
-	-	-	50,500	37,700	0	0	-	-	-	44,989	44,368
Debt issue costs
6,100	0	8,700	0	700	0	2,026	0	0	-	-	-
Proceeds from exercise of share options
100	0	0	-	4,700	2,911	588	19,941	7,959	1,471	33,781	13,245
Shares repurchased for tax withholdings on vesting of restricted share units
5,200	5,700	5,000	1,200	-	-	-	-	-	-	-	-
Repayments of borrowings
-	-	-	-	-	-	-	-	-594,013	-64,922	-144,922	-64,922
Excess tax benefits from share-based compensation
0	0	2,600	0	-100	3,690	1,164	5,128	412	2,672	2,683	1,655
Net cash provided by (used in) financing activities
-11,200	-175,700	-46,900	-150,600	759,600	8,421	866,202	-152,110	-190,125	430,950	-75,001	-95,369
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
-305,400	76,600	771,300	145,000	-753,600	68,836	585,155	1,374	-202,202	417,253	-62,030	26,417