Stoneridge inc (SRI)
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
OPERATING ACTIVITIES:
Net income

3,490

4,209

6,661

39,764

9,657

12,056

13,292

15,120

13,380

18,908

8,049

8,919

9,173

48,489

9,981

10,995

6,109

4,951

7,298

6,383

1,935

-32,998

1,030

-29,113

490

321

5,513

6,391

4,283

2,711

589

-5,298

5,746

35,366

4,257

3,240

2,674

Adjustments to reconcile net income to net cash provided by (used for) operating activities:
Depreciation

6,650

6,677

6,408

6,122

5,697

5,713

5,538

5,474

6,061

5,568

5,384

5,475

5,063

5,281

5,111

5,064

4,542

4,121

4,845

4,870

5,128

5,266

5,784

6,580

6,742

7,283

7,118

7,171

7,417

6,887

7,295

7,286

7,051

4,158

4,765

5,006

4,918

Amortization, including accretion and write-off of deferred financing costs

1,429

1,544

1,571

1,851

1,613

1,619

1,609

1,696

1,807

1,771

1,793

1,728

1,472

938

952

903

822

833

899

1,016

1,085

1,225

1,526

1,524

1,434

1,474

1,338

1,661

1,763

1,372

1,727

1,771

1,932

279

285

278

271

Deferred income taxes

76

1,212

570

6,783

-2,979

153

634

2,008

-243

-12,192

783

3,368

2,082

-39,461

166

228

320

-2,367

1,557

-1,656

301

-2,235

-1,575

151

421

-209

-1,036

-924

-912

-1,822

-602

-347

38

22,808

807

821

-498

Earnings of equity method investee

457

348

318

548

364

603

249

665

521

436

465

555

180

630

307

153

143

116

160

143

189

228

205

144

238

80

99

96

201

317

207

97

139

4,957

1,353

1,808

1,916

Loss (gain) on sale of fixed assets

-131

-34

106

25

1

-

-

-

-

-

-

-

-

-457

221

121

67

-19

4

-73

14

-95

3

8

-26

-

-

-

12

32

179

59

-2

100

-1

1

-12

Share-based compensation expense

1,372

1,492

1,105

2,046

1,548

1,418

1,376

1,434

1,404

1,552

1,648

1,726

2,339

1,547

1,699

1,928

960

1,478

1,264

1,157

3,325

1,607

1,499

1,137

1,163

832

1,419

1,336

1,387

1,307

1,122

1,111

1,350

1,473

703

1,254

993

Loss on disposal of business

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-113

55

-168

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in fair value of earn-out contingent consideration

-633

446

941

452

469

-1,705

501

513

904

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in fair value of venture capital fund

39

-

-

-

-16

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax deficiency (benefit) related to share-based compensation expense

-17

634

-97

96

656

705

0

49

830

99

1

77

681

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on disposal of Wiring business

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

904

96

-

-

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities, net of effect of business combination:
Accounts receivable, net

3,730

-7,511

-4,576

-4,381

17,821

-11,570

3,551

-3,227

14,821

-3,076

4,738

-5,154

18,648

-6,792

-3,050

13,080

15,456

-17,279

3,131

-1,184

15,821

-2,163

10,937

-5,799

16,425

-16,040

-8,440

2,963

17,395

-12,022

-8,271

-16,890

17,717

-16,183

6,431

-4,148

25,558

Inventories, net

5,838

-11,680

5,535

8,143

13,655

-8,039

7,431

5,916

4,694

-4,432

-175

4,294

2,445

-4,238

-2,729

-3,210

5,658

-10,688

-1,892

8,573

8,347

-11,446

-6,968

1,576

13,677

-2,646

8,685

10,826

6,781

-12,416

-8,157

2,110

-2,532

-7,648

-16

7,507

10,052

Prepaid expenses and other assets

3,702

-2,334

1,554

9,018

660

-3,377

-7,331

4,770

3,647

11,707

-5,704

-586

4,760

-8,531

491

2,411

2,977

-408

-2,217

419

2,501

-309

-1,818

-852

4,285

93

-962

-1,504

4,958

-2,878

-3,276

1,786

2,596

1,684

640

-52

2,511

Accounts payable

2,327

-18,991

-1,593

-2,791

16,395

-4,226

6,602

837

7,841

-1,119

-64

-4,059

15,734

-3,011

-5,439

5,498

13,932

-2,882

-3,476

997

11,938

-388

-3,019

-2,385

6,316

-1,187

-73

1,950

8,795

1,329

-10,827

-6,161

8,377

-33,107

309

-6,432

15,351

Accrued expenses and other liabilities

-7,733

-13,183

1,035

5,078

-4,836

-4,128

-6,922

349

3,030

16,998

3,521

-3,103

661

-3,934

1,993

4,601

-1,252

3,276

2,187

1,077

-1,287

-4,043

1,428

-3,889

1,746

-5,932

4,260

-1,379

6,020

-3,235

6,091

-1,746

-714

29,896

2,972

-6,688

840

Net cash used for operating activities

-6,562

3,983

13,858

12,273

-5,609

33,134

18,727

19,240

9,671

27,790

24,097

17,211

9,810

28,260

19,223

16,662

1,132

37,672

15,501

5,911

-4,279

20,661

6,213

9,132

-16,191

21,240

19,201

3,837

-594

35,516

24,713

9,454

5,862

18,343

5,691

-7,637

-15,476

INVESTING ACTIVITIES:
Capital expenditures, including intangibles

7,140

8,696

13,292

8,795

8,684

6,211

5,971

6,340

10,505

7,278

9,725

7,902

7,265

5,992

6,478

5,189

6,817

5,214

8,292

6,739

8,490

4,982

7,167

8,019

4,586

6,822

7,821

4,883

5,818

6,109

5,873

7,522

6,848

5,572

6,601

9,775

4,342

Proceeds from sale of fixed assets

8

53

280

48

1

67

3

32

9

-

-

-

-

0

298

273

81

11

17

19

17

11

26

59

14

13

11

67

16

31

189

158

143

-

-

-

-

Insurance proceeds for fixed assets

-

-

-

-

-

0

0

0

1,403

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Capital contribution from noncontrolling interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1

125

146

125

Business acquisitions, net of cash acquired

-

-

-

-

-

-

-

-

-

0

-280

0

77,538

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

19,779

-

-

-

-

Investment in venture capital fund

-

400

0

800

400

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used for investing activities

-7,132

-9,043

-13,012

24,839

-9,083

-6,581

-5,968

-6,308

-9,093

-6,556

-9,399

-7,882

-84,803

-5,992

-6,180

-4,916

-6,736

-5,203

-8,275

-8,419

-8,473

47,721

11,553

-8,982

-4,572

-6,809

-7,810

-4,816

-5,802

-6,078

-5,684

-7,364

-26,484

-9,466

-6,474

-9,626

-4,217

FINANCING ACTIVITIES:
Revolving credit facility borrowings

71,500

-

-

-

-

0

1,000

21,500

5,000

4,000

7,000

3,000

81,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

10,159

110

11,150

160

28,000

10,100

140

753

Revolving credit facility payments

36,500

13,000

21,500

42,500

5,000

5,000

10,000

27,500

10,000

9,000

13,000

12,000

7,000

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1,160

21,167

14,007

17,008

7,418

97

0

34

423

Proceeds from issuance of debt

1,958

13

2,140

21

34

46

96

118

155

191

656

1,015

886

2,906

1,517

8,878

2,922

3,424

7,028

10,015

2,073

9,610

7,395

2,475

10,592

3,981

2,340

5,848

13,386

831

2,444

14,354

4,517

-

-

-

-

Repayments of debt

2,076

287

301

309

690

699

1,913

1,081

1,378

1,266

4,133

2,039

4,135

4,436

5,701

12,795

2,816

10,571

5,809

8,961

5,245

9,657

8,488

3,950

3,515

2,120

5,309

14,263

2,690

10,354

11,849

12,715

13,409

49

789

62

68

Earn-out consideration cash payment

-

0

0

0

3,394

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other financing costs

-1

-20

-473

-871

-2

-

-

-

-

0

0

-14

-47

-

-

-

-

0

0

-14

-35

-

-

-

-

-

-

-

-

-

-23

-12

-99

-509

0

-69

-27

Common Share repurchase program

4,995

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repurchase of Common Shares to satisfy employee tax withholding

1,687

82

828

264

2,945

8

-36

529

3,713

259

15

387

1,820

40

0

40

1,344

70

1,673

0

1,181

0

101

-9

673

-213

59

-1

671

138

16

1

1,118

1

7

54

690

Net cash provided by (used for) financing activities

28,199

17,124

5,538

-38,923

-11,997

-5,661

-10,781

-7,492

-9,936

-6,334

-9,544

-12,221

68,884

-20,653

-17,523

-3,957

-1,238

-7,217

-454

1,040

-4,388

-65,195

-20,718

-2,549

6,404

2,074

-3,028

-8,414

8,865

-20,535

-23,341

-4,232

-17,367

27,344

10,712

-79

-455

Effect of exchange rate changes on cash and cash equivalents

-2,603

2,076

-2,624

228

-1,317

-455

-288

-3,879

759

312

1,417

2,203

629

-1,786

-244

-878

854

-180

-343

459

-2,012

-1,116

-1,855

-271

-39

263

671

-308

-300

86

714

-1,628

2,192

-725

-3,142

544

1,420

Net change in cash and cash equivalents

11,902

14,140

3,760

-1,583

-28,006

20,437

1,690

1,561

-8,599

15,212

6,571

-689

-5,480

-171

-4,724

6,911

-5,988

25,072

6,429

-1,009

-19,152

2,071

-4,807

-2,670

-14,398

16,768

9,034

-9,701

2,169

8,989

-3,598

-3,770

-35,797

35,496

6,787

-16,798

-18,728

Supplemental disclosure of cash flow information:
Cash paid for interest

1,150

1,191

1,012

1,089

1,109

1,098

1,220

1,241

1,438

1,460

1,531

1,305

1,450

1,213

1,558

1,624

1,391

1,553

1,672

1,626

1,241

9,023

1,785

8,834

822

-

-

-

-

-

-

-

-

-

-

-

-

Cash paid for income taxes, net

1,832

364

4,758

3,773

3,327

-1,686

6,932

2,911

5,056

1,348

2,321

2,172

1,252

1,367

286

1,184

549

654

655

425

760

769

1,162

813

310

-

-

-

-

-

-

-

-

-

-

-

-

Supplemental disclosure of non-cash operating and financing activities:
Change in fair value of interest rate swap

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-325

-574

-38

144

-400

375

-1,291

-103

-316

696

668

86

2,112

775

1,064

144

Bank payment of vendor payables under short-term debt obligations

-

-

-

-

-

-

-

-

-

-

-

-

-

0

1,642

1,418

704

2,037

331

2,373

582

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Issuance of Common Shares for acquisition of additional PST interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

10,197

-

-

-

-