Sterling construction co inc (STRL)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Cash flows from operating activities:
Net Income (Loss) Available to Common Stockholders, Basic

-

-

-

-9,238

-39,176

-9,781

-

-

-

-

-

Net loss attributable to Sterling common stockholders

-

-

-

-

-

-

-73,929

-297

-35,900

19,087

23,704

Net Income (Loss) Attributable to Noncontrolling Interest

-

-

-

1,826

3,216

4,556

3,903

18,009

1,196

-7,137

1,824

Net income

40,695

29,540

15,817

-7,412

-35,960

-

-

-

-

26,224

25,528

Net loss

-

-

-

-

-

-5,225

-70,026

17,712

-34,704

-

-

Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Goodwill impairment

-

-

-

-

-

-

-

-

67,000

-

0

Depreciation and amortization

20,740

16,770

16,994

15,699

16,236

18,348

18,650

18,997

17,322

15,770

13,730

Amortization of deferred debt costs

3,393

3,250

2,563

349

-

-

-

-

-

-

-

Revaluation of noncontrolling interest due to a new agreement

-

-

-

-

18,774

0

-

-

-

-

-

Gain on disposal of property and equipment

527

580

-171

367

1,479

995

1,837

3,184

390

-1,900

-249

Loss on debt extinguishment

-4,334

0

-755

-

-

-

-

-

-

-

-

Gain on sale of securities

-

-

-

-

-

-

91

785

3

-38

519

Tax impact from exercise of stock options and restricted stock

-

-

-

-

-

-

15

-

-

-

-

Loss on debt extinguishment

-

-

-

0

-240

0

-

-

-

-

-

Deferred tax expense

-

-

-

-

-

-

-5,150

1,167

18,651

-3,860

-

Interest expense accreted on noncontrolling interests

-

-

-

-

-

-

-

993

881

1,169

206

Deferred taxes

-27,398

1,450

0

0

-

-

-

-

-

-

4,482

Stock-based compensation expense

3,788

3,064

2,843

1,810

1,604

849

928

694

503

595

586

Unrealized loss on hedge

30

0

0

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities (Note 17)

3,902

14,020

14,376

-

-

-

-

-

-

-

-

Receivables, including retainage

-

-

-

2,020

-

-

-

-

-

-

-

Net amount of billings in excess of costs and estimated earnings on uncompleted contracts

-

-

-

-27,744

-

-

-

-

-

-

-

Tax impact from exercise of stock options and restricted stock

-

-

-

-

-

-

-

79

-58

-

-

Tax benefits from exercise of stock options

-

-

-

-

-

-

-

-

-

-

0

Contracts receivable

-

-

-

-

3,216

1,651

6,430

-4,060

-1,933

-9,982

-15,138

Costs and estimated earnings in excess of billings on uncompleted contracts

-

-

-

-

-6,498

21,719

-8,908

4,083

5,921

4,085

-3,778

Inventories

-

-

-

-

-4,866

1,212

-

-

-

-

-

Receivables from and equity in construction joint ventures

-

-

-

-5,800

3,777

3,035

-4,887

-

-

-

-

Receivables from and equity in construction joint ventures

-

-

-

-

-

-

-

4,948

-687

4,403

13

Income tax receivable

-

-

-

-

-1,419

-4,784

6,011

-

-

-

-

Other assets

-

-

-

-

-8,127

-3,692

6,722

9,234

538

-2,284

1,582

Other assets

-

-

-

578

-

-

-

-

-

-

-

Accounts payable

-

-

-

8,138

-7,834

5,192

13,794

7,730

-7,942

1,355

-11,185

Billings in excess of costs and estimated earnings on uncompleted contracts

-

-

-

-

4,907

-5,927

12,658

335

-539

-13,325

-3,571

Accrued compensation and other liabilities

-

-

-

319

-3,147

-2,504

4,055

-2,410

1,408

5,709

519

Member’s interest subject to mandatory redemption and undistributed earnings

-

-

-

-5,208

1,418

-1,110

-

-

-

-

-

Net cash provided by (used in) operating activities

41,093

39,474

24,767

44,274

8,676

-

-22,072

24,789

20,988

47,073

47,346

Net cash (used in) provided by operating activities

-

-

-

-

-

-10,513

-

-

-

-

-

Cash flows from investing activities:
Acquisition of noncontrolling interests

-

-

-

-

-

-

-

23,144

8,205

-

0

Payments to acquire businesses, net of cash acquired

-

-

-

0

0

-

-

-

3,911

-

60,490

Capital expenditures

15,397

13,171

9,420

10,888

8,086

13,509

14,390

37,359

23,989

13,409

5,277

Proceeds from sale of property and equipment

1,334

1,789

8,384

2,714

8,543

6,078

6,787

12,464

1,296

1,607

435

Purchases of short-term securities, available-for-sale

-

-

-

-

-

-

1,638

30,154

109,312

137,547

71,386

Sales of short-term securities, available-for-sale

-

-

-

-

-

-

49,874

26,661

101,415

140,493

57,338

Restricted Cash

-

-

-

-

4,945

0

-

-

-

-

-

Issuance of notes receivable

-

-

-

-

-

-

-

-

-

-

-350

Net cash used in investing activities

-410,386

-11,382

-55,897

-8,174

-4,488

-

40,633

-51,532

-42,706

-8,856

-79,730

Net cash used in investing activities

-

-

-

-

-

-7,431

-

-

-

-

-

Cash flows from financing activities:
Borrowings on revolving credit facility

430,000

0

85,000

0

-

330,338

219,026

75,012

18,500

57,700

188,000

Cash received Oaktree Facility

-

-

-

-

-

0

-

-

-

-

-

Repayments of long-term debt

87,621

11,555

4,710

-

-

0

-

-

-

-

-

Repayments - equipment-based term loan and other

-

-

-

14,969

-

-

-

-

-

-

-

Repayment of credit facilities

-

-

-

-

-

303,545

235,230

51,000

18,500

97,700

203,000

Repayments equipment-based term loan and other

-

-

-

-

-3,217

-

-

-

-

-

-

Cumulative drawdowns equipment-based revolver

-

-

-

-

-

0

-

-

-

-

-

Repayments of long-term debt

-

-

-

0

-

0

-

-

-

-

-

Distributions to noncontrolling interest owners

7,360

1,350

0

1,079

3,402

1,191

3,565

10,185

7,809

4,160

408

Net proceeds from stock issued

-

-

-

19,142

0

14,046

-

-

-

-

46,810

Purchase of treasury stock

3,201

4,731

0

0

-

-

-

-

3,592

-

0

Debt issuance costs

10,688

0

6,871

-

-

-

-

-

-

-

-

Debt issuance costs

-

-

-

0

1,309

-

-

-

-

-

-

Issuance of common stock pursuant to warrants and options exercised

-

-

-

-

-

-

26

68

156

1,051

-

Tax impact from exercise of stock options

-

-

-

-

-

-

15

-

-

-

-

Deferred loan costs

-

-

-

-

-

0

-

-

-

-

-

Tax impact from exercise of stock options

-

-

-

-

-

-

-

-79

58

-

-

Issuance of common stock pursuant to warrants and options exercised

-

-

-

-

-

-

-

-

-

-

308

Tax benefits from exercise of stock options

-

-

-

-

-

-

-

-

-

-

0

Other

-199

-314

-1,121

-835

-76

-733

-73

-302

-165

-73

-225

Net cash provided by financing activities

-

-

-

-

-

38,915

-

-

-

-

-

Net cash provided by (used in) financing activities

320,931

-17,950

72,298

2,259

-22,605

-

-19,831

13,514

-11,352

-43,182

31,485

Net change in cash and cash equivalents

-48,362

10,142

41,168

-

-

-

-

-

-

-

-

Net decrease in cash and cash equivalents

-

-

-

38,359

-18,417

20,971

-1,270

-13,229

-33,070

-4,965

-899

Supplemental disclosures of cash flow information:
Cash paid during the period for interest

11,566

10,829

9,800

2,628

-

-

-

-

-

-

-

Cash paid during the period for interest

-

-

-

-

2,889

1,075

595

88

299

44

31

Cash paid during the period for income taxes

94

276

279

72

547

1

170

2,990

1,444

3,740

7,000

Non-cash items:
Share consideration given for acquisitions

16,195

0

17,601

0

0

-

-

-

-

-

-

Notes and deferred payments to sellers

10,000

0

11,588

0

0

-

-

-

-

-

-

Estimated tax basis election

-

0

0

-

-

-

-

-

-

-

-

Reclassification of amounts payable to noncontrolling interest owner

-

-

-

-

-

-

-

-

1,054

-

0

Tax benefit related to the exercise of RHBs liability

-

-

-

-

-

-

-

-

2,292

-

0

Warrants issued to lenders (1,000 Warrants)

0

0

3,500

0

0

-

-

-

1,961

-

-

Revaluation of noncontrolling interests

-

-

-

-

-26,141

0

-7,686

3,992

-1,268

-

-

Revaluation of noncontrolling interests

-

-

-

-

-26,141

-

-

3,992

-1,268

-

-

Issuance of noncontrolling interest in RHB in exchange for net assets of acquired companies

-

-

-

-

-

-

-

9,767

-

-

-

Goodwill adjustments

-

-

-

-

-

-

-

410

-

-

-

Transportation and construction equipment acquired through financing arrangements

-

-

-

740

2,662

3,159

510

-

-

-

-

Net liabilities assumed in connection with acquisitions

-

-

-

-

-

-

-

-

-

-

0

Revaluation of noncontrolling interest - RLW put/call liability, net of tax

-

-

-

-

-

-

-

-

-

-

0

Plateau
Payments to acquire businesses, net of cash acquired

396,323

0

0

-

-

-

-

-

-

-

-

Tealstone
Payments to acquire businesses, net of cash acquired

0

0

54,861

-

-

-

-

-

-

-

-