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

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

CashFlow / TTM

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
-383,034	-329,757	-292,407	-263,026	-251,443	-200,821	127,206	162,163	173,978	145,206	66,311	13,700	-27,531	-41,056	-49,433	-35,683	-13,958	11,868	60,426	99,291	117,992	121,540	104,755	84,812	76,350	75,256	80,597	78,059	77,318	79,154	67,405	58,951	45,856	30,253	0	0	0
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation, depletion and amortization
173,293	179,444	183,152	173,176	164,840	148,832	129,640	117,163	104,226	97,233	91,092	83,594	75,177	68,134	63,318	61,301	59,787	58,474	54,760	52,027	48,673	45,019	42,453	39,180	37,729	36,418	33,499	30,315	27,399	25,099	23,283	22,610	21,888	20,999	0	0	0
Goodwill and other asset impairments
467,713	363,847	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Debt issuance amortization
5,135	5,597	4,395	2,263	5,021	4,044	4,297	5,111	1,380	1,382	1,385	1,388	1,391	1,392	1,392	1,394	1,397	1,401	1,309	1,176	1,044	912	876	857	769	680	595	530	533	515	458	387	315	265	0	0	0
Original issue discount amortization
1,478	1,053	-44	799	1,004	832	1,759	745	371	372	376	374	376	378	377	382	382	382	363	333	302	272	262	256	233	209	186	168	168	168	168	168	164	157	0	0	0
Deferred income taxes
-136,108	-101,682	-47,258	-43,036	-41,409	-31,070	-23,051	-11,727	-11,089	-20,601	3,104	-16,679	-30,409	-36,903	-31,868	-21,645	-15,592	-10,473	-14,948	-11,387	-6,703	-2,442	-2,298	-2,903	-1,758	-1,889	967	4,148	2,868	2,249	2,656	-837	-915	-659	0	0	0
Deferred revenue
-69,859	-74,910	-52,534	-47,229	-47,858	-36,720	-20,614	6,233	36,689	28,438	29,105	9,464	-12,465	-9,026	-9,011	-10,118	-11,831	-16,079	-17,551	-17,724	-14,006	-8,508	-3,669	-570	-2,938	-4,855	-7,064	-8,410	-8,156	-7,666	-7,771	-7,547	-6,995	-7,068	0	0	0
(Gain) loss on disposal of property, plant and equipment
-1,041	-1,573	-292	-519	-742	5,170	5,351	5,598	5,443	-415	-685	-928	-614	-563	384	399	-423	-383	-1,095	-954	-190	-222	0	0	0	-	-	-	-	472	510	440	440	35	0	0	0
Equity-based compensation
14,708	15,906	14,291	15,996	20,128	22,337	25,142	26,283	25,794	25,050	21,552	18,704	15,711	12,107	11,108	9,301	3,673	3,857	4,504	4,015	8,247	7,487	5,610	5,039	3,691	3,039	2,904	2,566	2,354	2,330	2,218	2,235	1,796	1,238	0	0	0
Excess tax benefit from equity-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	365	1,276	2,381	3,813	4,230	3,996	2,722	1,380	0	0	0	-	-	-	-	-	-	-	-
Provision for credit losses, net of recoveries
3,647	3,466	2,881	2,327	799	315	266	1,068	983	1,529	633	-485	-599	-1,232	50	1,042	-3,323	-290	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
24,962	12,042	30,287	11,906	16,537	13,536	-14,183	-8,646	-12,046	-13,929	-6,040	-4,856	-5,659	-5,300	-4,765	-1,881	4,052	5,257	10,528	8,744	302	-367	1,945	-4,188	1,189	2,186	-1,458	2,533	871	1,297	-4,249	-9,445	-9,701	-4,029	0	0	0
Changes in operating assets and liabilities, net of effects of acquisitions:
Accounts receivable
-63,949	-33,837	-52,430	-52,960	-52,309	-56,815	-3,376	65,992	98,250	110,920	122,094	86,708	64,221	12,996	-29,742	-22,442	-40,600	-62,465	-36,390	-29,285	4,648	48,976	51,539	48,678	34,269	16,972	15,234	11,970	8,611	13,239	20,834	11,539	21,199	16,437	0	0	0
Inventories
4,839	-11,182	9,789	-628	3,881	7,022	5,384	7,804	2,091	8,637	1,801	2,850	-1,127	10,211	3,264	2,975	2,056	-1,708	6,029	2,999	11,330	-34	2,981	6,460	8,395	24,377	22,899	12,059	10,840	10,528	10,348	18,501	10,567	6,889	0	0	0
Prepaid expenses and other current assets
-576	-8,547	-8,839	-2,092	221	2,678	1,719	-8,051	-9,559	-8,787	-9,199	-538	133	509	-336	-759	-350	708	4,083	-56	2,497	2,158	-3,262	6,846	3,184	2,959	3,447	-3,946	-409	-4,114	4,147	4,642	3,233	5,370	0	0	0
Income taxes
1,491	1,725	209	1,183	-1,991	-3,764	-12,637	-7,545	440	1,469	16,072	10,377	5,982	11,558	4,900	2,834	-5,935	-5,837	-3,367	2,140	4,756	2,063	4,139	803	-779	-18,179	-12,003	-8,919	3,695	24,491	11,286	9,448	3,862	-1,745	0	0	0
Accounts payable and accrued expenses
-32,401	21,024	38,497	55,911	67,807	26,907	30,931	15,328	18,744	43,654	42,142	40,259	14,610	13,232	981	-8,491	-13,680	-42,353	-12,512	-1,736	9,175	51,357	29,058	25,957	16,923	1,385	2,440	-6,221	12,009	8,458	33,454	29,913	16,467	25,388	0	0	0
Short-term and long-term obligations-vendor incentives
-	-	-	-	-	52,806	54,632	54,632	57,986	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accrued interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1	-3	-3	-2	0	0	0	-	-	-	-	39	-1,767	-1,630	-1,637	-1,657	590	957	1,315	1,558	0	0	0
Liability for pension and other post-retirement benefits
8,561	2,734	14,401	9,460	5,320	4,608	-647	-858	-990	-705	-419	717	984	1,307	1,913	2,070	1,766	1,953	1,584	251	-1,022	-2,180	-137	-1,704	-326	574	0	0	0	-	-	-	-	-	-	-	-
Other noncurrent assets and liabilities
7,587	-2,962	-367	5,783	7,458	8,015	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Advisory services termination fee to Golden Gate Capital
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8,000	0	0	0	-	-	-	-
Net cash (used in) provided by operating activities
92,342	144,046	159,397	220,251	243,998	310,706	328,842	317,495	319,140	222,013	161,172	76,521	-15,383	381	25,146	24,356	37,954	61,492	100,840	154,646	160,888	171,411	124,911	91,508	81,670	46,451	59,488	65,824	94,489	100,950	90,159	73,446	46,896	42,565	0	0	0
Investing activities:
Capital expenditures
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Capital expenditures
-	-	-	-	-	339,815	328,023	375,588	420,910	368,479	274,937	175,149	60,278	46,450	48,235	49,906	46,337	53,646	79,200	101,726	95,380	92,609	65,211	47,268	48,369	60,470	77,686	97,688	113,440	105,719	112,860	92,458	76,432	66,745	0	0	0
Capitalized intellectual property costs
3,119	3,932	6,494	8,803	10,342	10,046	8,031	5,476	3,352	3,586	3,300	2,932	2,204	959	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Maturities of short-term investments
-	-	-	-	-	-	-	-	-	-	-	-	-	21,872	46,052	70,847	68,588	53,568	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale of property, plant and equipment
2,120	1,896	1,469	760	271	26,231	26,630	26,504	26,285	337	425	443	451	497	134	116	113	127	84	97	92	20	0	0	0	-	-	-	-	1,258	1,300	1,271	1,271	106	0	0	0
Net cash used in investing activities
-91,096	-120,393	-221,879	-267,521	-1,065,184	-1,066,879	-1,052,831	-1,198,566	-517,778	-491,529	-397,701	-372,891	-231,796	-201,657	-178,755	21,057	22,364	49	-49,728	-195,353	-193,605	-190,906	-213,325	-121,992	-123,012	-135,113	-102,516	-97,574	-113,407	-104,461	-111,560	-91,187	-75,161	-66,639	0	0	0
Financing activities:
Proceeds from Issuance of Common Stock
-	-	-	-	-	-	-	-	-	-	-	-	-	678,791	0	0	200,000	-	0	0	0	-	-	-	-	-	-	-	-	50,000	0	0	0	-	-	-	-
Payments of Stock Issuance Costs
-	-	-	-	-	-	-	-	-	-	-	-	-	25,732	0	0	13,798	-	0	0	0	-	-	-	-	-	-	-	-	9,171	0	0	0	-	-	-	-
Dividends paid
18,506	18,592	18,724	19,152	19,533	19,912	20,160	20,322	20,354	20,377	19,704	18,580	16,829	15,125	17,386	20,085	23,427	26,797	26,856	26,913	20,227	26,871	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Repurchase of common stock
-	-	-	-	-	148,469	115,521	115,521	100,022	25,022	0	0	0	-	-	-	-	15,255	15,754	15,754	15,754	499	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from options exercised
-28	100	167	166	228	100	63	315	283	800	1,290	4,073	5,320	4,825	4,442	1,409	452	473	494	1,216	2,602	5,563	6,870	10,488	10,158	7,942	0	0	0	-	-	-	-	-	-	-	-
Excess tax benefit from equity-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	365	1,276	2,381	3,813	4,230	3,996	2,722	1,380	0	0	0	-	-	-	-	-	-	-	-
Tax payments related to shares withheld for vested restricted stock and stock units
1,245	2,993	3,080	3,044	3,103	4,383	4,650	4,647	4,487	4,379	0	0	0	-	-	-	-	-	-	-	828	614	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from draw down of the Revolver
25,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Tax payments related to shares withheld for vested restricted stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments on long-term debt
23,188	23,449	23,977	16,420	503,811	501,425	499,290	497,172	7,463	7,211	6,743	5,922	5,332	5,202	5,302	5,093	5,093	5,093	4,764	4,425	4,087	3,750	3,772	258,551	258,264	257,976	257,666	2,614	2,600	2,600	2,600	2,586	240,713	240,476	0	0	0
(Distributions to) contributions from non-controlling interest
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Financing fees paid
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	64	2,935	2,935	2,935	2,871	0	0	0	-	-	-	-	1,334	0	0	0	-	-	-	-
Contributions from non-controlling interest
-	-	-	-	-	7,497	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Principal payments on finance lease obligations
42	59	230	438	509	564	458	485	708	951	1,197	1,173	860	542	0	0	0	-	-	-	-	-	-	-	-	744	0	0	0	-	-	-	-	-	-	-	-
Change in book overdraft
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-2,847	985	206	-198	935	1,030	1,871	1,861	0	0	0
Change in revolving credit facility
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-
Net cash provided by (used in) financing activities
-18,160	-40,411	-95,812	-85,699	653,289	574,104	605,922	604,893	-132,753	-57,142	436,119	440,697	444,687	635,424	166,309	161,138	157,278	-47,530	83,199	187,049	197,475	208,964	82,166	90,121	84,854	106,627	78,705	-23,807	-22,804	5,334	40,602	41,171	58,268	18,773	0	0	0
Net decrease in cash and cash equivalents
-16,914	-16,758	-158,294	-132,969	-167,897	-182,069	-118,067	-276,178	-331,391	-326,658	199,590	144,327	197,508	434,148	12,700	206,551	217,596	14,011	134,311	146,342	164,758	189,469	0	0	0	-	35,677	-55,557	-41,722	1,823	19,201	23,430	30,003	-5,301	0	0	0
Supplemental cash flow information:
Cash paid during the period for:
Interest
86,406	87,286	89,093	88,040	81,734	66,769	50,097	34,413	24,925	24,490	24,539	24,189	22,853	21,994	21,323	21,323	21,498	21,729	20,734	19,229	17,625	15,920	0	0	0	-	13,871	12,452	12,501	12,436	15,303	15,649	16,859	18,404	0	0	0
Taxes, net of refunds
-14,168	-14,741	-13,661	2,955	4,131	5,373	13,745	13,746	9,785	8,958	-5,661	-7,033	-5,805	-11,322	-7,053	-7,715	-1,811	4,568	15,609	25,701	36,399	37,637	0	0	0	-	38,349	34,710	23,786	3,883	6,134	6,440	6,930	6,915	0	0	0
Related party purchases
-	-	-	-	-	2,958	4,004	4,676	4,756	4,942	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash items:
Contribution of note from parent and related accrued interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	16,692	0	0	0	-	-	-	-
Capital lease obligations incurred to acquire assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-
Equipment received
-	-	-	-	-	-	-	-	-	18,185	18,185	18,185	18,185	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accrued capital expenditures
8,518	27,646	26,672	44,176	55,077	36,008	24,544	31,329	32,562	16,534	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net assets assumed in business acquisition
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Capital lease assumed by third-party
-	-	-	-	-	119	119	119	119	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Asset retirement obligation assumed by third-party
-	-	-	-	-	2,116	2,116	2,116	2,116	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-