U.S. Silica Holdings, Inc. SLCA Cash Flow

U.s. silica holdings, inc. (SLCA)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11
Operating activities:
Net loss
-72,605	-293,425	-23,065	6,061	-19,328	-256,075	6,316	17,644	31,294	71,952	41,273	29,459	2,522	-6,943	-11,338	-11,772	-11,003	-15,320	2,412	9,953	14,823	33,238	41,277	28,654	18,371	16,453	21,334	20,192	17,277	21,794	18,796	19,451	19,113	10,045	10,342	6,356	3,510
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation, depletion and amortization
38,449	42,819	47,126	44,899	44,600	46,527	37,150	36,563	28,592	27,335	24,673	23,626	21,599	21,194	17,175	15,209	14,556	16,378	15,158	13,695	13,243	12,664	12,425	10,341	9,589	10,098	9,152	8,890	8,278	7,179	5,968	5,974	5,978	5,363	5,295	5,252	5,089
Goodwill and other asset impairments
103,866	363,717	130	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Debt issuance amortization
860	1,293	1,664	1,318	1,322	91	-468	4,076	345	344	346	345	347	347	349	348	348	347	351	351	352	255	218	219	220	219	199	131	131	134	134	134	113	77	63	62	63
Original issue discount amortization
690	261	264	263	265	-836	1,107	468	93	91	93	94	94	95	91	96	96	94	96	96	96	75	66	65	66	65	60	42	42	42	42	42	42	42	42	38	35
Deferred income taxes
-36,979	-93,193	-7,546	1,610	-2,553	-38,769	-3,324	3,237	7,786	-30,750	8,000	3,875	-1,726	-7,045	-11,783	-9,855	-8,220	-2,010	-1,560	-3,802	-3,101	-6,485	2,001	882	1,160	-6,341	1,396	2,027	1,029	-3,485	4,577	747	410	-3,078	1,084	669	666
Deferred revenue
-2,525	-42,531	-14,900	-9,903	-7,576	-20,155	-9,595	-10,532	3,562	-4,049	17,252	19,924	-4,689	-3,382	-2,389	-2,005	-1,250	-3,367	-3,496	-3,718	-5,498	-4,839	-3,669	0	0	0	-570	-2,368	-1,917	-2,209	-1,916	-2,114	-1,427	-2,314	-1,692	-1,562	-1,500
(Gain) loss on disposal of property, plant and equipment
419	-1,515	12	43	-113	-234	-215	-180	5,799	-53	32	-335	-59	-323	-211	-21	-8	624	-196	-843	32	-88	-55	-79	0	-	-	-	-	3	30	0	439	41	-40	0	34
Equity-based compensation
2,847	5,340	3,722	2,799	4,045	3,725	5,427	6,931	6,254	6,530	6,568	6,442	5,510	3,032	3,720	3,449	1,906	2,033	1,913	-2,179	2,090	2,680	1,424	2,053	1,330	803	853	705	678	668	515	493	654	556	532	54	96
Excess tax benefit from equity-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-39	258	6	140	872	1,363	1,438	557	638	89	96	-	-	-	-	-	-	-	-
Provision for credit losses, net of recoveries
902	384	683	1,678	721	-201	129	150	237	-250	931	65	783	-1,146	-187	-49	150	136	805	-4,414	3,183	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
16,792	-1,155	10,311	-986	3,872	17,090	-8,070	3,645	871	-10,629	-2,533	245	-1,012	-2,740	-1,349	-558	-653	-2,205	1,535	5,375	552	3,066	-249	-3,067	-117	5,378	-6,382	2,310	880	1,734	-2,391	648	1,306	-3,812	-7,587	392	6,978
Changes in operating assets and liabilities, net of effects of acquisitions:
Accounts receivable
13,471	-30,045	-32,119	-15,256	43,583	-48,638	-32,649	-14,605	39,077	4,801	36,719	17,653	51,747	15,975	1,333	-4,834	522	-26,763	8,633	-22,992	-21,343	-688	15,738	10,941	22,985	1,875	12,877	-3,468	5,688	137	9,613	-6,827	10,316	7,732	318	2,833	5,554
Inventories
-2,917	-11,217	13,725	5,248	-18,938	9,754	3,308	9,757	-15,797	8,116	5,728	4,044	-9,251	1,280	6,777	67	2,087	-5,667	6,488	-852	-1,677	2,070	3,458	7,479	-13,041	5,085	6,937	9,414	2,941	3,607	-3,903	8,195	2,629	3,427	4,250	261	-1,049
Prepaid expenses and other current assets
4,820	-87	-2,357	-2,952	-3,151	-379	4,390	-639	-694	-1,338	-5,380	-2,147	78	-1,750	3,281	-1,476	454	-2,595	2,858	-1,067	1,512	780	-1,281	1,486	1,173	-4,640	8,827	-2,176	948	-4,152	1,434	1,361	-2,757	4,109	1,929	-48	-620
Income taxes
578	2,121	-586	-622	812	605	388	-3,796	-961	-8,268	5,480	4,189	68	6,335	-215	-206	5,644	-323	-2,281	-8,975	5,742	2,147	3,226	-6,359	3,049	4,223	-110	-7,941	-14,351	10,399	2,974	4,673	6,445	-2,806	1,136	-913	838
Accounts payable and accrued expenses
-40,455	-18,432	13,335	13,151	12,970	-959	30,749	25,047	-27,930	3,065	15,146	28,463	-3,020	1,553	13,263	2,814	-4,398	-10,698	3,791	-2,375	-33,071	19,143	14,567	8,536	9,111	-3,156	11,466	-498	-6,427	-2,101	2,805	17,732	-9,978	22,895	-736	4,286	-1,057
Short-term and long-term obligations-vendor incentives
-	-	-	-	-	-1,826	0	-3,354	57,986	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accrued interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-1	0	-2	0	0	-	-	-	-	-4	-103	-6	152	-1,810	34	-13	132	437	401	345	375
Liability for pension and other post-retirement benefits
6,751	-6,329	3,910	4,229	924	5,338	-1,031	89	212	83	-1,242	-43	497	369	-106	224	820	975	51	-80	1,007	606	-1,282	-1,353	-151	2,649	-2,849	25	749	-	-	-	-	-	-	-	-
Other noncurrent assets and liabilities
10,597	83	-813	-2,280	48	2,678	5,337	-605	605	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Advisory services termination fee to Golden Gate Capital
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	8,000	-	-	-	-
Net cash (used in) provided by operating activities
-40,803	27,665	33,893	71,587	10,901	43,016	94,747	95,334	77,609	61,152	83,400	96,979	-19,518	311	-1,251	5,075	-3,754	25,076	-2,041	18,673	19,784	64,424	51,765	24,915	30,307	17,924	18,362	15,077	-4,912	30,961	24,698	43,742	1,549	20,170	7,985	17,192	-2,782
Investing activities:
Capital expenditures
16,116	-	-	-	44,376	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Capital expenditures
-	-	-	-	-	119,028	61,591	86,869	72,327	107,236	109,156	132,191	19,896	13,694	9,368	17,320	6,068	15,479	11,039	13,751	13,377	41,033	33,565	7,405	10,606	13,635	15,622	8,506	22,707	30,851	35,624	24,258	14,986	37,992	15,222	8,232	5,299
Capitalized intellectual property costs
494	439	873	1,313	1,307	3,001	3,182	2,852	1,011	986	627	728	1,245	700	259	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Maturities of short-term investments
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	6,852	15,020	24,180	24,795	4,593	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale of property, plant and equipment
224	353	835	708	0	-74	126	219	25,960	325	0	0	12	413	18	8	58	50	0	5	72	7	13	0	0	-	-	-	-	3	30	0	1,225	45	1	0	60
Net cash used in investing activities
-16,386	-20,541	-19,489	-34,680	-45,683	-122,027	-65,131	-832,343	-47,378	-107,979	-210,866	-151,555	-21,129	-14,151	-186,056	-10,460	9,010	8,751	13,756	-9,153	-13,305	-41,026	-131,869	-7,405	-10,606	-63,445	-40,536	-8,425	-22,707	-30,848	-35,594	-24,258	-13,761	-37,947	-15,221	-8,232	-5,239
Financing activities:
Proceeds from Issuance of Common Stock
-	-	-	-	-	-	-	-	-	-	-	-	-	478,791	0	0	200,000	-	0	0	0	-	-	-	-	-	-	-	-	0	0	0	50,000	-	-	-	-
Payments of Stock Issuance Costs
-	-	-	-	-	-	-	-	-	-	-	-	-	11,764	170	0	13,798	-	0	0	0	-	-	-	-	-	-	-	-	0	-310	507	8,974	-	-	-	-
Dividends paid
4,604	4,712	4,508	4,682	4,690	4,844	4,936	5,063	5,069	5,092	5,098	5,095	5,092	4,419	3,974	3,344	3,388	6,680	6,673	6,686	6,758	6,739	6,730	0	13,402	-	-	-	-	-	-	-	-	-	-	-	-
Repurchase of common stock
-	-	-	-	-	57,970	0	15,499	75,000	25,022	0	0	0	-	-	-	-	0	0	0	15,255	499	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from options exercised
0	-28	0	0	128	39	-1	62	0	2	251	30	517	492	3,034	1,277	22	109	1	320	43	130	723	1,706	3,004	1,437	4,341	1,376	788	-	-	-	-	-	-	-	-
Excess tax benefit from equity-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-39	258	6	140	872	1,363	1,438	557	638	89	96	-	-	-	-	-	-	-	-
Tax payments related to shares withheld for vested restricted stock and stock units
457	80	58	650	2,205	167	22	709	3,485	434	19	549	3,377	-	-	-	-	-	-	-	443	42	38	305	229	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from draw down of the Revolver
25,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Tax payments related to shares withheld for vested restricted stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-23	-460	-499	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments on long-term debt
3,782	3,242	11,981	4,183	4,043	3,770	4,424	491,574	1,657	1,635	2,306	1,865	1,405	1,167	1,485	1,275	1,275	1,267	1,276	1,275	1,275	938	937	937	938	960	255,716	650	650	650	664	636	650	650	650	238,763	413
(Distributions to) contributions from non-controlling interest
-4	-	-	-	4,729	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Financing fees paid
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	64	2,871	0	0	0	-	-	-	-	30	0	0	1,304	-	-	-	-
Contributions from non-controlling interest
-	-	-	-	-	4,285	3,212	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Principal payments on finance lease obligations
3	8	12	19	20	179	220	90	75	73	247	313	318	319	223	0	0	-	-	-	-	-	-	-	-	266	98	125	255	-	-	-	-	-	-	-	-
Change in book overdraft
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,080	937	-2,130	-	-1,362	637	-1,014	-1,108	2,470	-142	-1,418	25	2,565	699	-1,428
Change in revolving credit facility
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7,116	3,685	-10,551	-	-	-	-	-	-	-	-
Net cash provided by (used in) financing activities
16,150	-8,673	-16,503	-9,134	-6,101	-64,074	-6,390	729,854	-85,286	-32,256	-7,419	-7,792	-9,675	461,005	-2,841	-3,802	181,062	-8,110	-8,012	-7,662	-23,746	122,619	95,838	2,764	-12,257	-4,179	103,793	-2,503	9,516	-32,101	1,281	-1,500	37,654	3,167	1,850	15,597	-1,841
Net decrease in cash and cash equivalents
-41,039	-1,549	-2,099	27,773	-40,883	-143,085	23,226	-7,155	-55,055	-79,083	-134,885	-62,368	-50,322	447,165	-190,148	-9,187	186,318	25,717	3,703	1,858	-17,267	146,017	15,734	20,274	7,444	-	81,619	4,149	-18,103	-31,988	-9,615	17,984	25,442	-14,610	-5,386	24,557	-9,862
Supplemental cash flow information:
Cash paid during the period for:
Interest
20,677	20,857	22,469	22,403	21,557	22,664	21,416	16,097	6,592	5,992	5,732	6,609	6,157	6,041	5,382	5,273	5,298	5,370	5,382	5,448	5,529	4,375	3,877	3,844	3,824	-	4,306	3,272	3,196	3,097	2,887	3,321	3,131	5,964	3,233	4,531	4,676
Taxes, net of refunds
101	-710	-15,391	1,832	-472	370	1,225	3,008	770	8,742	1,226	-953	-57	-5,877	-146	275	-5,574	-1,608	-808	6,179	805	9,433	9,284	16,877	2,043	-	4,534	13,109	20,076	630	895	2,185	173	2,881	1,201	2,675	158
Related party purchases
-	-	-	-	-	725	629	932	672	1,771	1,301	1,012	858	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash items:
Contribution of note from parent and related accrued interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	16,692	-	-	-	-
Capital lease obligations incurred to acquire assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	744	-	-	-	-	-	-	-	-
Equipment received
-	-	-	-	-	-	-	-	-	0	0	0	18,185	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accrued capital expenditures
20,111	289	-2,777	-9,105	39,239	-685	14,727	1,796	20,170	-12,149	21,512	3,029	4,142	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net assets assumed in business acquisition
10,955	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Capital lease assumed by third-party
-	-	-	-	-	0	0	0	119	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Asset retirement obligation assumed by third-party
-	-	-	-	-	0	0	0	2,116	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-