Rowan companies plc (RDC)
CashFlow / Quarterly
Dec'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'11Dec'10Sep'10Jun'10Mar'10Dec'09Sep'09Jun'09Mar'09
CASH PROVIDED BY OPERATIONS:
Net income (loss)

-14,300

-144,100

-76,700

-112,300

112,000

-20,900

-28,700

10,300

-24,400

5,500

216,700

122,800

124,300

-239,404

84,735

123,669

-326,936

119,597

32,844

59,595

49,698

51,900

82,844

68,134

54,071

27,579

49,435

49,517

45,101

193,809

465,859

32,072

57,285

67,171

90,916

64,623

60,829

78,392

96,583

131,700

Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization

94,600

99,000

97,400

97,900

99,700

103,400

101,500

99,100

101,700

102,200

100,100

98,900

102,600

104,859

94,677

90,564

92,546

81,503

77,678

70,873

70,587

69,274

66,531

64,616

64,577

63,027

61,330

58,966

54,636

50,306

50,564

49,366

47,260

47,353

46,458

45,492

44,590

43,747

42,609

40,499

Equity in earnings of unconsolidated subsidiary

6,900

3,100

1,600

-1,300

900

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Material charge - manufacturing inventories

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

42,024

-

-

-

-

Deferred income taxes

-

200

-4,500

100

-

-3,600

19,600

16,800

-

-16,700

7,400

-12,600

-400

11,871

-5,030

-7,541

-

-43,741

2,552

-1,489

-

-8,891

-641

-396

-

-9,861

4,930

-137

-

-101,572

69,829

863

-

6,100

1,922

4,224

-

28,317

17,261

24,964

Pension and other postretirement benefits (income) expense

-2,200

-2,200

-7,800

3,200

7,400

0

2,600

2,500

2,000

3,500

4,700

4,800

10,200

8,024

7,932

7,844

6,385

6,305

6,240

6,170

9,200

37,556

-7,414

-7,332

67,297

-11,356

-8,886

-7,571

32,174

4,605

-8,363

-8,301

-63,072

9,783

9,697

9,632

-71,812

8,717

11,769

11,662

Share-based compensation expense

4,600

8,400

6,700

4,300

9,500

7,300

5,400

6,800

8,700

8,400

9,300

8,200

9,100

8,130

11,180

5,190

10,596

8,437

7,920

7,547

6,612

10,449

9,340

7,530

4,700

8,341

6,602

5,165

7,824

3,265

6,089

4,910

4,248

4,281

4,094

2,955

3,463

3,567

3,035

2,969

Loss on disposals of property and equipment

-7,100

-1,500

-2,200

-1,300

-100

-2,800

-3,100

-3,400

-3,400

-1,200

-1,900

-2,200

9,800

-2,275

-338

513

3,507

-58

-859

1,110

1,140

65

19,222

-308

-176

559

2,063

56

168

36

1,882

2,014

-1,363

670

-224

129

1,412

-305

-60

4,701

Noncash loss on debt extinguishment

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Asset impairment charges

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

9,142

0

0

2,896

8,000

0

0

0

-

-

-

-

-

-

-

-

Cash loss on extinguishment of debt

-

-

-

0

-

-

-

-300

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

-2,600

4,200

500

6,000

-300

400

1,200

200

3,400

-100

400

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Receivables - trade and other

-27,300

14,900

28,400

-8,800

-32,100

-66,000

-7,000

22,200

-139,200

-109,900

123,500

16,400

-97,800

10,392

-5,239

-42,053

34,952

87,448

39,110

39,090

-80,017

27,658

6,494

15,081

-10,111

73,369

-944

43,448

-64,395

51,532

26,082

-36,044

58,093

-14,479

67,165

-76,511

-277,155

21,934

71,724

36,157

Inventories

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

56,357

48,111

-92,513

-1,237

46,309

-17,736

-157,935

41,181

37,807

-13,410

Prepaid expenses and other current assets

-9,100

16,200

-800

-200

-8,900

-5,100

-1,400

1,200

-7,100

-5,900

10,600

-6,800

-8,900

-2,410

15,060

-4,350

-11,592

-10,789

18,329

-12,248

-9,720

-11,531

21,007

-9,339

-10,150

1,971

27,289

-9,231

-3,841

5,049

20,847

-22,358

-1,670

-8,491

-24,876

25,829

42,007

12,453

-47,721

10,539

Accounts payable

-7,100

16,000

-6,700

600

16,800

-16,000

-2,300

3,400

14,300

-29,500

28,400

-17,200

-5,100

13,619

7,787

6,894

2,562

-19,339

9,814

-13,637

16,341

16,072

1,615

-1,655

-7,493

13,428

-9,679

-4,864

-16,001

15,965

2,610

42,210

-24,818

7,261

15,521

-32,763

-3,870

25,516

-42,053

-114,241

Accrued income taxes

-2,900

2,100

-7,400

-4,100

-2,500

-6,400

2,800

2,300

-17,000

-1,300

9,700

5,200

7,400

-609

-8,491

12,300

9,301

3,953

-17,576

9,222

939

1,604

-8,307

-11,950

18,469

1,034

-6,065

2,772

-218,449

82,142

129,649

561

2,719

-3,725

-26,741

-2,808

39,511

-3,428

-39,835

-13,575

Billings in excess of costs and estimated profits on uncompleted contracts

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

18,004

11,489

-164

-13,523

-3,766

142

-15,458

-7,241

-11,254

2,060

Other current liabilities

-6,100

-8,300

-2,800

-7,900

1,000

24,500

-600

-17,100

-3,500

-5,700

10,100

-28,100

28,200

-25,331

32,306

-47,075

54,702

2,379

26,856

-11,037

11,677

-3,686

3,346

-23,778

7,524

-134

24,762

-14,279

17,712

-11,910

42,503

-38,042

17,129

2,125

10,408

-23,281

14,557

13,300

6,401

-31,049

Other postretirement benefit claims paid

200

200

500

500

16,400

200

900

900

1,300

1,700

1,900

3,000

900

1,142

1,243

1,115

971

1,314

921

894

711

764

1,114

881

761

981

1,331

738

738

800

709

679

6,062

-761

-839

-874

6,184

-949

-923

-817

Contributions to pension plans

4,100

8,900

5,600

5,600

5,400

11,900

6,100

5,900

6,400

7,900

5,100

3,100

400

6,302

4,323

375

549

25,806

21,997

6,448

251

12,386

5,974

249

294

9,662

9,557

22,542

225

17,332

8,468

27,369

106,954

-7,578

-7,578

-34,532

70,735

-17,802

-9,361

-7,324

Deferred revenue

-2,300

2,400

2,400

3,000

-42,800

-30,100

-33,600

-6,300

18,400

54,700

-6,900

-2,500

-15,100

7,087

3,750

1,163

4,412

-5,940

-3,270

-13,502

-13,185

12,616

4,834

-2,090

16,365

-22

-373

150

-3,501

17,326

11,297

16,306

53,374

-15,969

-8,441

-14,916

-17,355

-32,677

12,679

2,665

Net changes in other noncurrent assets and liabilities

0

2,400

2,800

7,400

-5,000

17,900

15,400

9,700

15,600

-35,400

4,000

3,100

18,100

-5,285

9,843

-7,358

28,281

-1,274

2,868

-2,075

-10,818

-29,640

-17,988

-2,000

-5,380

2,205

1,002

-13,077

6,947

-28,507

-2,484

-5,605

23,291

-8,985

190

-1,559

7,704

-6,242

-1,127

-822

Net cash provided by (used in) operations

-47,700

-66,500

-34,800

-11,100

58,800

102,500

56,700

81,800

236,100

300,300

230,300

162,900

340,200

210,180

203,954

244,766

222,778

50,707

68,992

80,523

231,144

157,700

131,153

103,179

204,207

26,691

99,530

63,281

-33,330

-17,890

32,029

113,870

227,881

69,996

220,473

-10,188

135,131

184,033

147,654

77,276

CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures

52,300

40,000

41,500

35,400

22,000

21,300

26,400

30,900

29,100

24,100

31,500

32,900

48,100

58,402

102,133

514,265

590,786

580,118

254,778

532,518

152,147

156,509

186,690

111,965

119,167

275,316

152,668

138,105

362,566

224,130

569,838

361,140

173,999

526,944

-299,959

89,576

173,160

182,958

116,634

93,631

Deposit on purchase of rigs

-

-

-

-70,800

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of note receivable from unconsolidated subsidiary

96,200

600

400

1,300

87,500

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from disposals of property and equipment

4,600

6,100

700

1,300

1,800

200

1,200

100

5,100

0

800

300

14,300

2,802

618

1,680

12,233

1,870

1,297

6,600

2,255

239

39,669

2,387

-53

1,306

8,319

928

256

1,421

1,353

2,704

314

2,075

555

323

2,903

217

162

5,310

Decrease in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,172

10,621

0

0

-14,840

-425

15,265

0

0

0

-

-

-

-

Net cash provided by (used in) investing activities

43,200

-33,300

-40,400

-103,600

54,600

-21,100

-50,200

-30,800

-24,000

-24,100

-30,700

-32,600

-33,800

-55,600

-101,515

-512,585

-578,553

-578,248

-253,481

-525,918

-149,892

-156,270

-147,021

-109,578

-119,220

-264,561

-143,177

-147,798

-367,368

293,288

490,896

-358,011

-188,950

-121,784

-120,252

-89,253

-170,257

-182,741

-116,472

-88,321

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from borrowings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

20

0

0

793,380

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Reductions of long-term debt

0

0

0

0

0

6,600

35,400

128,000

463,900

0

31,400

16,500

97,900

50,000

170,000

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Dividends paid

-

-

-

-

-

-

-

-

-

-

-

-

12,600

12,680

12,658

12,562

12,577

12,567

12,556

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Debt issue costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

13

0

0

687

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from exercise of share options

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-25

253

3,662

810

0

731

649

1,531

433

155

-214

214

4,834

-1,376

8,702

7,781

3,284

1,751

2,196

728

1,220

-3,506

3,641

116

Shares repurchased for tax withholdings on vesting of restricted share units

1,300

400

200

3,300

1,300

0

-900

5,300

100

100

2,000

2,800

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of borrowings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-98,844

-127,297

-12,312

-

-12,329

-13,754

-12,329

-497,952

-63,600

-13,754

-18,707

-13,754

-18,707

-13,754

-18,707

Excess tax benefits from share-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,981

-115

578

0

-563

2,713

820

45

112

11

11

866

276

0

464

3,800

864

454

-57

130

-115

-

-

-

-

Net cash provided by (used in) financing activities

-1,200

-500

-6,200

-3,300

-1,300

-6,600

-34,500

-133,300

5,900

-100

-33,400

-19,300

-112,700

-62,680

39,323

-14,543

-12,710

-11,736

-8,894

792,940

2,713

1,551

2,514

1,643

610,731

-99,477

366,770

-11,822

-53,009

-94,165

-1,252

-3,684

-494,214

333,611

-11,428

-18,094

-6,300

465,954

-10,113

-18,591

INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS

-5,700

-100,300

-81,400

-118,000

112,100

74,800

-28,000

-82,300

218,000

276,100

166,200

111,000

193,700

91,900

141,762

-282,362

-368,485

-539,277

-193,383

347,545

83,965

2,981

-13,354

-4,756

695,718

-337,347

323,123

-96,339

-453,707

181,233

521,673

-247,825

-455,283

281,823

88,793

-117,535

-41,426

467,246

21,069

-29,636