SCHNITZER STEEL INDUSTRIES, INC. SCHN Cash Flow

Schnitzer steel industries, inc. (SCHN)

CashFlow / TTM

Feb'20	Nov'19	Aug'19	May'19	Feb'19	Nov'18	Aug'18	May'18	Feb'18	Nov'17	Aug'17	May'17	Feb'17	Nov'16	Aug'16	May'16	Feb'16	Nov'15	Aug'15	May'15	Feb'15	Nov'14	Aug'14	May'14	Feb'14	Nov'13	Aug'13	May'13	Feb'13	Nov'12	Aug'12	May'12	Feb'12	Nov'11	Aug'11	May'11	Feb'11	Nov'10	Aug'10	May'10	Feb'10	Nov'09
Cash flows from operating activities:
Net (loss) income
26,346	35,139	58,322	106,557	128,564	157,186	159,789	118,322	97,127	66,907	46,978	44,904	39,340	-13,329	-17,588	-22,903	-43,529	-198,442	-195,076	-198,229	-185,165	13,357	9,591	-287,480	-290,050	-283,947	-280,023	8,011	18,109	19,729	28,917	67,846	90,592	112,364	123,536	103,596	110,978	97,348	70,676	0	0	0
Adjustments to reconcile net (loss) income to cash provided by operating activities:
Asset impairment charges
2,094	1,692	63	595	-870	-870	-1,021	-1,627	-1,206	-1,206	-717	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Exit-related asset impairments
971	117	23	-977	-977	-977	-1,000	0	-3	-565	-407	-1,744	-1,622	1,948	1,790	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation and amortization
55,318	54,126	53,336	52,307	51,480	50,447	49,672	49,390	49,381	49,819	49,840	50,146	50,818	52,345	54,630	57,459	60,018	63,881	67,936	71,515	75,033	77,073	79,209	80,833	82,544	83,190	83,070	83,170	82,838	82,809	82,256	82,320	81,381	78,891	74,866	70,378	66,840	64,412	63,418	0	0	0
Inventory write-downs
-	-	-	-	-	-	38	38	38	38	0	0	232	232	710	710	478	3,509	3,031	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Deferred income taxes
8,668	12,854	14,613	-18,802	-19,093	-39,453	-37,995	-8,965	-12,265	3,099	2,278	1,379	515	960	507	-644	-609	-2,602	-1,988	-6,026	-6,476	-3,397	-3,815	-61,185	-60,218	-61,680	-59,102	6,702	7,131	9,676	8,321	389	22,977	19,446	21,004	32,138	11,424	12,346	10,891	0	0	0
Undistributed equity in earnings of joint ventures
1,172	1,166	1,452	1,605	2,066	1,988	1,953	1,702	1,598	3,712	3,674	4,180	3,770	1,260	819	281	62	961	1,490	1,420	1,528	1,287	1,196	1,353	1,611	1,552	1,183	887	823	1,384	2,307	3,407	4,524	4,623	4,622	4,075	4,296	3,555	3,076	0	0	0
Other asset impairment charges
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Share-based compensation expense
12,131	12,048	17,300	18,587	20,678	21,365	18,965	15,480	13,372	12,443	10,847	12,983	13,380	10,908	10,437	9,521	8,808	10,486	10,481	11,845	11,626	13,570	14,506	11,980	11,499	11,133	11,475	11,121	10,054	8,390	8,793	11,625	12,858	14,700	13,655	12,603	12,424	11,872	11,035	0	0	0
(Gain) loss on the disposal of assets, net
1,843	2,186	1,545	-105	172	-260	-56	-457	-626	-454	-448	-258	273	441	465	1,652	1,961	2,418	2,875	1,962	2,092	1,258	1,126	1,189	123	399	-131	-286	59	25	135	-2,446	-1,621	-1,584	-1,529	-32,622	-33,699	-34,107	-16,943	0	0	0
Environmental reserves charges (releases), net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	0	0
Net gain on derivatives
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	772	0	0	0	-	-	0	0
Unrealized foreign exchange (gain) loss, net
0	0	-	-	-	-	104	-92	-119	23	-361	-55	159	75	109	361	304	1,512	1,909	1,792	2,178	556	-240	-1,089	-1,922	-1,879	-1,583	-11	-46	560	334	-1,389	-3,250	-1,030	-758	0	0	0	-	-	-	-
Bad debt expense (recoveries), net
142	107	74	79	293	336	323	398	85	95	126	12	47	101	131	2	-57	-198	-264	-62	-18	-426	449	1,329	1,556	3,013	584	342	116	-885	688	0	0	0	-	-	-	-	-	-	-	-
Excess tax benefit from share-based payment arrangements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	343	234	234	239	194	199	397	363	343	504	320	404	817	999	1,485	1,485	689	-37	-482	-495	-128	0	0	0
Changes in assets and liabilities, net of acquisitions:
Accounts receivable
5,537	-65,726	-9,478	-6,837	-13,784	64,347	44,941	75,802	73,738	43,289	36,195	37,946	61,225	50,608	10,693	-264	-12,192	-63,392	-55,600	-61,128	-47,732	43,158	16,360	53,277	41,608	1,733	79,118	30,026	-41,296	-53,413	-81,701	-90,228	54,457	48,697	91,715	100,392	-6,672	55,447	11,569	0	0	0
Inventories
-26,738	-35,710	-33,466	-48,599	-40,947	-32,613	24,280	55,221	41,216	56,888	22,207	1,341	15,498	-10,121	-27,504	-47,235	-120,239	-99,827	-69,256	-43,990	-5,441	-49,573	-36,264	-84,684	-84,981	-58,519	-46,826	-63,240	-34,780	-117,436	-94,095	-39,140	-47,855	112,929	45,268	49,057	138,848	205,960	108,770	0	0	0
Income taxes
613	6,107	1,158	68	3,964	875	1,755	1,149	-794	-2,906	1,086	-4,490	-5,677	-5,930	-5,861	-8,685	-9,475	-9	5,846	3,288	7,912	-4	-4,129	5,417	1,669	412	-2,440	5,110	-579	-1,011	20,018	-9,480	-3,053	-2,524	-22,703	6,400	12,116	-31,384	-33,277	0	0	0
Prepaid expenses and other current assets
-4,700	483	859	-3,882	5,559	911	109	6,127	3,164	1,020	1,704	5,572	218	4,056	1,864	-441	-21	-1,590	-2,403	-2,809	-1,226	-119	2,453	2,728	1,076	15,206	13,852	13,740	14,379	1,689	4,010	15,252	13,437	13,374	11,486	3,880	134	56	2,640	0	0	0
Other long-term assets
-995	-654	-1,167	-627	1,108	1,052	1,620	1,396	-437	-261	-537	-1,152	558	-228	-266	-39	-1,873	-1,087	-1,064	-966	-756	-1,085	-996	-930	-872	-769	-977	-818	160	-1,295	82	1,061	-1,267	656	133	887	-87	764	206	0	0	0
Operating lease assets and liabilities
0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable
-1,749	-39,140	-17,068	-19,690	-12,754	10,620	26,049	45,954	31,190	27,267	33,062	9,075	15,872	18,606	-763	-2,706	-13,020	-15,813	-35,638	-22,241	-14,544	-11,038	9,409	1,632	1,452	-4,876	-10,901	-18,928	-21,787	-17,310	-26,074	11,844	-788	33,641	45,447	9,228	40,237	12,351	8,479	0	0	0
Accrued payroll and related liabilities
319	-3,230	-19,117	-22,772	-12,695	-4,263	4,889	8,940	6,004	4,575	12,389	12,308	10,310	1,864	3,633	2,624	-2,604	-2,919	-6,330	-3,673	-2,640	676	8,114	815	438	386	2,720	2,445	1,406	-366	-13,161	-9,985	-2,420	1,473	2,276	4,623	5,973	4,684	12,010	0	0	0
Other accrued liabilities
9,612	435	-3,560	-7,073	-6,697	2,338	6,066	8,535	10,628	7,678	5,073	7,136	-2,229	71	-4,362	-7,784	-1,482	-6,504	-2,710	-3,258	-4,358	1,899	-91	1,865	3,481	187	-1,770	3,875	298	-639	6,500	-14,926	-13,472	-10,933	-15,676	-2,526	-11,459	-4,693	-2,519	0	0	0
Accrued income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0
Environmental liabilities
-2,432	-2,861	-2,476	-2,218	-1,351	-1,149	3,053	2,582	4,230	5,947	1,884	2,019	1,739	34	-451	-888	-1,566	-1,566	-702	0	0	0	-	-	-504	-378	-146	-2,374	-1,857	-1,963	-2,201	-632	-142	-344	-97	-1,193	-1,857	-2,097	-2,335	0	0	0
Other long-term liabilities
481	507	518	1,093	2,809	2,960	4,404	3,256	1,447	579	-1,101	-932	-931	-544	30	-4,953	-3,936	-2,627	-3,384	3,328	2,661	1,447	1,825	359	230	418	113	-108	74	31	253	762	-169	-251	-167	-2,749	-1,735	-2,132	-2,128	0	0	0
Distributed equity in earnings of joint ventures
-	-	2,692	2,067	2,122	1,117	1,150	1,274	1,219	3,488	3,638	3,549	3,299	810	560	645	645	725	770	595	595	810	1,310	1,535	1,516	1,665	1,755	1,585	2,284	2,615	2,405	2,855	2,975	4,330	4,980	4,405	3,735	1,605	430	0	0	0
Net cash provided by operating activities
138,066	167,479	144,740	169,067	193,634	163,660	159,676	102,729	83,507	78,853	100,370	99,332	58,139	64,541	99,240	116,402	176,112	201,308	144,628	148,067	111,403	99,355	141,252	110,314	128,782	124,666	39,289	109,929	159,626	271,412	244,790	264,224	161,553	71,929	140,463	61,892	93,569	161,883	89,490	0	0	0
Cash flows from investing activities:
Capital expenditures
90,418	91,377	94,613	92,530	92,159	89,678	77,626	59,528	50,160	49,494	44,940	44,637	40,502	35,833	34,571	30,306	31,080	31,611	32,297	33,480	34,911	34,794	39,147	52,800	63,622	78,086	90,381	90,296	83,205	79,684	78,560	84,941	101,858	105,347	104,964	103,919	88,949	81,243	64,324	0	0	0
Acquisition
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,160	4,849	4,859	27,513	25,366	0	0	0	-	-	-	-	293,880	294,041	177,398	29,774	40,944	0	0	0
Joint venture receipts, net
-	-	641	648	655	663	11	675	675	339	405	-262	-290	62	11	7	28	5	1	55	2,298	3,702	3,765	4,086	3,152	2,479	2,194	1,352	267	223	92	830	804	615	1,587	2,089	1,285	1,136	340	0	0	0
Proceeds from sale of assets
3,282	2,793	4,070	4,761	6,274	6,262	6,517	5,802	5,220	6,619	5,158	4,210	4,695	3,449	4,106	4,516	3,900	4,117	4,270	4,422	4,564	4,051	3,841	6,491	5,415	5,632	5,491	1,151	1,145	1,234	953	717	759	530	530	496	434	487	41,319	0	0	0
Net cash used in investing activities
-84,616	-88,247	-89,565	-87,414	-86,789	-85,075	-73,398	-55,883	-47,105	-48,421	-45,394	-46,196	-41,590	-32,446	-30,476	-25,785	-27,152	-27,649	-28,178	-29,261	-32,795	-34,458	-41,231	-55,244	-66,218	-102,446	-112,450	-119,741	-111,561	-85,240	-84,266	-84,904	-229,864	-392,356	-399,901	-399,553	-267,198	-111,666	-64,289	0	0	0
Cash flows from financing activities:
Borrowings from long-term debt
429,660	386,528	431,048	405,676	446,767	484,839	515,480	499,190	502,186	520,205	433,336	400,510	348,784	243,503	152,311	138,864	80,002	81,127	140,536	167,983	237,874	264,786	313,207	290,697	292,561	312,385	265,858	293,245	281,733	217,600	439,070	402,866	714,192	937,743	811,531	824,874	589,400	555,400	577,900	0	0	0
Repayment of long-term debt
453,075	429,844	435,353	437,235	497,432	504,442	556,456	515,067	503,000	523,979	481,757	418,925	337,168	259,466	187,951	199,461	195,594	217,887	231,103	280,472	302,984	319,216	368,496	329,430	316,413	267,946	230,923	241,018	296,746	354,798	507,745	513,579	621,363	634,927	508,675	0	0	0	-	-	-	-
Payment of debt issuance costs
-	-	102	2,692	2,686	2,685	2,590	0	3	59	112	244	1,120	1,064	1,011	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from line of credit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	135,500	213,000	237,000	272,000	266,500	331,500	357,000	370,000	469,500	440,500	488,000	557,500	545,500	555,000	599,500	458,000	495,500	592,000	555,500	681,000	655,500	531,100	548,600	437,600	402,600	0	0	0
Repayment of line of credit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Repayment of line of credit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	135,500	213,000	237,000	272,000	266,500	331,500	357,000	370,000	478,000	440,500	488,000	566,000	537,000	555,000	599,500	463,500	495,500	594,500	555,500	667,000	655,500	282,957	301,652	392,827	402,600	0	0	0
Repurchase of Class A common stock
-	-	13,083	18,670	23,847	21,456	17,361	0	0	0	-	-	-	-	3,479	4,826	4,826	4,826	1,347	0	0	0	-	-	-	-	-	-	-	-	33,194	25,051	13,420	13,420	10,303	0	0	0	-	-	-	-
Taxes paid related to net share settlement of share-based payment awards
5,887	6,007	7,484	7,515	7,636	7,553	3,082	3,204	3,061	3,024	3,474	3,575	3,619	3,627	2,213	2,575	2,532	2,541	1,997	2,262	2,262	2,293	1,578	2,076	2,188	4,405	2,673	4,774	4,308	2,043	2,307	-3,101	-2,760	-2,767	-3,800	0	0	0	-	-	-	-
Restricted stock withheld for taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Excess tax benefit from share-based payment arrangements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	343	234	234	239	194	199	397	363	343	504	320	404	817	999	1,485	1,485	689	-37	-482	-527	-128	0	0	0
Stock options exercised
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	240	256	256	327	316	0	0	0	-	-	-	-	567	600	606	510	937	0	0	0
Contributions from noncontrolling interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,970	3,874	3,874	5,524	4,008	2,104	2,104	454	0	0	0	0	-	-	-	-
Distributions to noncontrolling interests
2,136	1,863	1,677	2,028	2,606	2,858	2,796	2,803	2,236	2,080	2,271	2,124	2,007	1,821	2,126	2,026	2,496	2,799	3,110	3,584	3,628	3,758	3,115	2,845	2,864	2,914	2,794	2,333	2,721	2,985	4,087	4,259	4,012	3,709	2,863	3,216	3,251	3,225	3,003	0	0	0
Dividends paid
20,775	20,714	20,615	20,615	20,677	20,812	20,736	20,795	20,907	20,689	20,396	20,491	20,449	20,529	20,444	20,501	20,366	20,373	20,336	20,260	20,230	20,199	20,126	20,101	25,041	25,000	20,010	19,820	15,475	10,987	11,455	7,005	1,417	1,887	1,885	1,872	2,344	1,410	1,416	0	0	0
Net cash provided by financing activities
-56,129	-80,895	-47,266	-83,079	-108,117	-75,567	-88,141	-52,057	-31,222	-29,626	-74,674	-44,849	-15,579	-43,004	-64,913	-92,133	-146,541	-168,758	-118,751	-139,120	-91,755	-80,212	-88,174	-63,300	-78,026	-18,216	-4,147	-10,881	-65,608	-188,549	-120,052	-154,607	73,930	292,213	279,951	340,372	188,001	-13,123	-35,698	0	0	0
Effect of exchange rate changes on cash
-168	71	-255	-545	-562	-996	-701	92	-3	288	166	-96	-80	84	213	-395	-1,080	-642	-616	-119	345	47	344	514	1,325	1,526	926	1,301	363	-208	-71	-1,044	-2,144	-1,832	-1,393	-1,434	300	-40	-187	0	0	0
Net (decrease) increase in cash and cash equivalents
-2,847	-1,592	7,654	-1,971	-1,834	2,022	-2,564	-5,119	5,177	1,094	-19,532	8,191	890	-10,825	4,064	-1,911	1,339	4,259	-2,917	-20,433	-12,802	-15,268	12,191	-7,716	-14,137	5,530	-76,382	-19,392	-17,180	-2,585	40,401	23,669	3,475	-30,046	19,120	1,277	14,672	37,054	-10,684	0	0	0
Cash paid during the period for:
Interest
4,505	5,635	6,191	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income taxes paid, net
325	3,639	3,527	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Schedule of noncash investing and financing transactions:
Purchases of property, plant and equipment included in current liabilities
15,181	17,879	17,191	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-