Spartan motors inc (SPAR)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'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'11
Cash flows from operating activities:
Net income

7,878

-27,669

10,417

3,289

1,537

1,832

5,243

3,743

4,194

2,440

13,469

1,124

-1,099

941

2,744

4,375

543

-9,941

-5,820

1,176

-2,895

-251

3,191

230

-2,141

-2,968

562

691

-4,254

-2,466

-327

2,351

-2,015

-

-

-

-898

Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization

2,801

3,449

2,691

2,515

2,525

2,732

2,600

2,586

2,452

2,602

2,645

2,365

2,325

2,161

2,178

1,778

1,786

1,990

1,872

1,806

1,769

1,854

2,105

2,160

2,259

2,296

2,392

2,512

2,038

2,120

2,229

2,249

2,392

2,500

2,312

2,801

2,397

Accruals for warranty, net of cash paid

-538

-

4,430

5,351

392

-

2,745

1,650

1,673

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on disposal of assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-11

2

17

5

2

2

35

-15

109

-10

91

1

-341

25

44

17

-88

-956

17

-4,594

-17

10

-1,060

-72

Accruals for warranty

-

-

-

-

-

-

-

-

-

2,300

1,890

2,594

2,315

3,199

4,357

3,305

2,128

8,089

3,184

2,212

1,903

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Expense from changes in fair value of contingent consideration

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

336

60

60

286

104

-217

73

61

-

-

-

-

-

-

-

-

Deferred income taxes

11,396

-17,631

24

-54

-564

-1,443

685

0

3

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Tax expense (benefit) related to stock incentive plan transactions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-37

-

0

-1

1

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Expense from changes in fair value of contingent consideration

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-407

-

-672

-265

-64

Tax expense related to stock incentive plan transactions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2

-35

-11

-

-75

-28

-13

60

-14

-174

-6

10

-54

-192

14

Deferred income taxes

-

-

-

-

-

-

-

-

-

-

-6,556

-20

83

-

-2,695

25

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash stock based compensation expense

2,132

1,514

1,565

1,342

860

973

865

1,370

819

958

1,065

1,200

313

256

318

343

619

148

174

232

644

378

292

340

614

346

370

639

269

303

358

531

453

475

380

488

437

Loss on sale of business

-2,138

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in accounts receivable and contract assets

16,380

-

-

-

5,626

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Decrease (increase) in operating assets, net of effects of acquisition:
Accounts receivable

-

-

-

-

-

-4,309

17,390

9,168

241

-10,534

11,731

17,761

-382

-5,041

857

10,093

2,915

-11,904

4,958

-6,689

21,890

-11,070

10,246

-6,393

8,019

-4,739

1,747

10,243

-6,830

-2,904

-587

7,489

3,099

-4,166

10,582

-8,608

-10,926

Contract assets

-

-

-

-

-

-7,550

-2,842

12,791

3,068

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in inventories

3,686

3,849

-1,139

-2,391

14,464

-6,660

11,146

15,934

3,920

-16,726

6,710

-20,516

-12,388

-9,064

8,131

-11,348

10,619

-17,975

8,590

-15,127

13,907

-2,539

-10,730

9,044

-6,031

-955

8,683

-3,994

10,094

-3,205

13,267

-1,208

-8,254

2,113

3,179

-1,089

1,275

Income taxes receivable

-

-

-

-

-

-

-

-

-

0

-669

669

-1,287

591

-618

501

-942

1,755

-1,729

-1,414

1,447

-277

-1,731

516

1,547

-1,430

-1,497

-169

1,338

-2,357

1,992

373

1,524

-1,343

-1,930

1,548

313

Other assets

-

-

-

-

-

255

387

-406

422

187

-928

-48

-62

1,482

-825

137

226

605

74

-725

-109

1,588

-337

-361

480

-243

-49

-144

-800

-453

-434

-77

303

795

-990

-723

-272

Increase (decrease) in operating liabilities, net of effects of acquisition:
Changes in accounts payable

472

-24,797

-24,788

17,701

11,480

-16,658

14,024

28,596

9,335

-14,363

12,989

6,100

640

-12,804

5,476

-2,628

13,974

-11,605

8,406

-15,757

23,512

-6,454

-6,030

4,976

-255

-2,392

8,684

938

295

-7,093

7,585

-45

903

-6,231

5,113

-2,182

6,810

Cash paid for warranty repairs

-

-

-

-

-

-2,745

-2,696

-2,814

-2,583

-3,818

-2,977

-3,701

-3,358

-2,538

-2,714

-2,492

-2,521

-2,718

-1,696

-2,038

-1,563

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued warranty

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

924

585

400

-

-142

-190

1,703

-200

186

223

51

-252

-7

24

195

Accrued customer rebates

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

20

-625

-

701

396

270

-

1,120

558

-466

46

417

250

-822

184

396

626

-453

-768

20

-93

-1

Changes in accrued compensation and related taxes

-6,140

1,526

4,895

2,582

-1,266

1,239

-1,564

1,792

-4,256

1,221

2,139

1,508

-6,398

971

1,055

2,579

-101

-499

116

-13

854

-450

1,326

280

630

-295

679

250

-1,942

1,454

-428

907

146

-253

494

-310

130

Change in other assets and liabilities

17,141

-

-

-

-2,723

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deposits from customers

-

-

-

-

-

7,557

8

1,952

-5,073

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deposits from customers

-

-

-

-

-

-

-

-

-

-

-6,711

-15,032

-10,378

-

-1,069

3,033

2,487

2,050

1,040

-393

-1,126

-1,688

-4,771

-400

377

5,898

1,102

524

4,096

-163

712

-1,029

-1,035

5,569

-876

598

-1,372

Other current liabilities and accrued expenses

-

-

-

-

-

-

-

-

1,805

-

-888

421

725

-

-

-

-

1,410

-1,032

-119

-966

412

-438

162

-101

1,616

810

-698

-1,680

-2,041

-21

174

-8

43

716

-606

-1,189

Other current liabilities and accrued expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

550

-117

443

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other long-term liabilities

-

-

-

-

-

-86

-86

-87

-86

-86

-87

-172

2,070

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued income taxes

-

-

-

-

-

-423

-449

-1,431

-200

610

2,018

143

-55

-134

46

21

-9

-947

997

-78

13

-23

-30

-29

-6

-446

-801

17

47

-383

354

-159

58

-181

-54

-207

346

Total adjustments

-24,946

55,617

-6,925

1,855

-3,940

12,141

-8,580

-6,785

-3,762

17,458

-11,318

-2,459

2,401

1,934

966

6,430

5,395

24,727

7,251

10,169

-11,811

2,884

-2,970

5,830

-267

15,933

4,460

-1,637

259

2,263

-1,835

-2,446

10,842

3,004

-2,027

10,902

17,485

Net cash used in operating activities

-17,068

27,948

3,492

5,144

-2,403

13,973

-3,337

-3,042

432

19,898

2,151

-1,335

1,302

2,875

3,710

10,805

5,938

14,786

1,431

11,345

-14,706

2,633

221

6,060

-2,408

12,965

5,022

-946

-3,995

-203

-2,162

-95

8,827

3,697

1,171

8,682

16,587

Cash flows from investing activities:
Purchases of property, plant and equipment

2,433

2,527

3,794

1,787

1,934

1,590

3,312

2,046

2,037

1,578

1,324

1,083

1,355

4,111

3,505

4,051

1,743

1,292

1,128

1,092

1,383

894

701

1,012

856

481

560

1,064

1,421

2,821

4,341

4,191

1,115

1,624

1,164

1,027

1,440

Proceeds from sale of property, plant and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

0

2

3

20

3

2

174

29

89

319

239

1

1

24

128

27

10

0

64

1

-

-

-

-

Proceeds from sale of business

-55,000

-

-

-

-

-

-

-

-

0

-12

12

28,903

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

61

4,685

Net cash provided by (used in) investing activities

52,567

-1,815

-93,433

-1,783

-1,934

-6,790

-3,312

-2,046

-2,037

-1,565

-1,312

-1,095

-30,258

-4,111

-3,503

-4,048

-1,723

-1,289

-1,126

-918

-1,354

-805

-382

-773

-855

-480

-536

1,564

-1,394

-2,811

-4,341

-4,127

-1,114

-878

-1,156

-1,000

-6,125

Cash flows from financing activities:
Proceeds from long-term debt

16,000

-

-

-

-

-

-

-

-

119

0

0

32,800

0

0

0

10

0

0

0

0

-

-

-

-

0

0

52

86

-

-

-

-

0

-1

1

17

Payments on long-term debt

30,000

20,073

5,000

5,083

19

16

14

18

18

5,021

16

10,017

16

5,016

15

17

10

31

15

14

15

15

14

24

27

26

27

26

7

35

13

11

14

-

-

-

-

Cash related to tax impact of stock incentive plan transactions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-1

1

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of contingent consideration on acquisitions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

162

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase and retirement of common stock

-

0

0

0

793

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) the exercise and vesting of stock incentive awards

55

66

62

28

-922

18

-18

-177

-2,493

-10

-208

30

-457

26

31

-74

-94

61

-2

-58

-376

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash related to tax impact of stock incentive plan transactions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

37

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash (used in) the exercise, vesting or cancellation of stock incentive awards

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-25

-26

-46

-

-38

90

192

271

-70

-52

71

44

-54

-161

18

Cash paid related to tax impact of stock incentive plan transactions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2

-35

-11

-

-75

-28

-13

60

-14

-174

-6

10

-54

-192

14

Payment of contingent consideration on acquisitions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

162

-

-

-

-

-

-

-

-

-

-

-

-

Payment of dividends

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,677

1

1,645

25

Net cash used in financing activities

-13,945

-21,802

87,062

-6,832

-1,734

4,589

652

-2,655

-2,511

-6,665

-224

-11,742

32,327

-6,709

15

-3,778

-131

-1,683

-15

-1,788

-552

-1,737

-1,037

-2,808

-246

-1,742

-140

-1,617

258

-1,928

-97

-1,929

51

-1,647

-137

-2,048

24

Net increase (decrease) in cash and cash equivalents

21,554

4,330

-2,878

-3,471

-6,071

11,772

-5,997

-7,743

-4,116

11,668

615

-14,172

3,371

-7,945

222

2,979

4,084

11,814

290

8,639

-16,612

91

-1,198

2,479

-3,509

10,743

4,346

-999

-5,131

-4,942

-6,600

-6,151

7,764

1,172

-122

5,634

10,486