SUMMIT MATERIALS, INC. SUM Cash Flow

Summit materials, inc. (SUM)

CashFlow / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jul'17	Apr'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
Cash flow from operating activities:
Net loss
85,898	61,123	6,099	21,854	20,777	36,330	99,467	109,762	124,937	125,777	87,316	64,135	33,552	46,126	87,493	60,259	38,787	1,484	-41,464	-47,219	-33,051	-6,282	0	0	0
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation, depletion, amortization and accretion
221,101	222,862	222,940	221,192	220,252	208,772	205,302	200,888	195,323	193,107	183,241	175,162	167,159	160,633	152,256	144,140	134,478	125,019	117,785	108,828	102,032	95,463	0	0	0
Share-based compensation expense
19,402	20,403	20,969	21,793	22,777	25,378	26,825	25,906	24,899	21,140	17,965	29,547	52,652	49,940	47,433	32,696	6,718	19,899	19,078	18,117	16,886	2,235	0	0	0
Deferred income tax benefit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Net gain on asset disposals
10,492	10,294	10,862	26,522	27,751	30,093	28,836	11,094	10,050	7,638	3,321	3,437	3,084	3,102	23,941	23,317	22,936	23,087	-1,729	-3,089	-4,714	-6,500	0	0	0
Non-cash loss on debt financings
0	-2,850	-2,850	-2,850	-2,850	0	-3,771	-3,771	-3,771	-3,856	0	0	0	-	-	-	-	9,877	0	0	0	-	-	-	-
Change in deferred tax asset, net
19,846	16,012	77,649	51,874	46,835	57,490	222,174	-296,544	-304,255	-289,219	-494,085	6,168	-6,583	-4,263	0	0	0	-	-	-	-	-	-	-	-
Other
571	2,135	464	-1,736	-486	-2,018	631	2,907	1,563	2,359	1,166	701	629	1,282	2,736	2,685	2,279	1,629	358	331	735	957	0	0	0
Decrease (increase) in operating assets, net of acquisitions and dispositions:
Accounts receivable, net
37,228	37,049	36,511	27,353	13,657	5,796	-4,760	-7,056	-10,412	3,720	15,216	10,539	5,923	-2,511	21,095	30,102	4,176	-3,852	12,190	2,984	-2,954	10,366	0	0	0
Inventories
17,692	-8,582	-30,725	-38,038	-22,945	11,598	31,801	43,765	29,180	18,609	6,060	1,621	9,362	10,297	8,967	7,118	-76	-4,275	3,722	2,470	11,771	3,735	0	0	0
Costs and estimated earnings in excess of billings
-5,727	-5,558	2,144	892	4,483	8,702	7,862	14,779	-2,977	1,825	-59	-287	8,183	2,684	4,343	3,433	-6,285	-6,604	7,034	2,900	-536	-1,359	0	0	0
Other current assets
-6,393	-5,465	-5,295	1,808	7,404	7,159	4,142	-3,402	-4,024	-8,703	-3,384	-663	-5,542	5,518	-12,963	-11,571	-2,158	-11,438	4,488	4,648	4,309	3,997	0	0	0
Other assets
-8,052	-5,085	-6,103	-3,488	-1,723	106	1,179	758	1,630	3,103	5,274	3,548	3,427	2,350	1,062	1,789	1,773	1,369	-4,918	-2,606	-2,320	-4,767	0	0	0
(Decrease) increase in operating liabilities, net of acquisitions and dispositions:
Accounts payable
21,622	18,903	14,042	-7,417	-11,092	-13,403	-7,187	1,554	-5,719	6,192	8,794	13,117	-964	-5,751	-9,812	2,336	5,186	-4,241	13,495	-6,939	-6,261	-6,455	0	0	0
Accrued expenses
-6,173	7,640	-5,900	-8,823	-14,847	-16,544	-13,057	1,457	4,998	-7,006	8,102	-3,936	10,422	13,196	6,169	7,150	-11,777	-14,354	-842	-6,361	2,464	13,311	0	0	0
Billings in excess of costs and estimated earnings
3,428	1,988	-584	-4,003	-4,459	-5,052	-6,127	-3,330	1,024	109	948	5,475	549	700	4,214	-1,335	-590	1,313	-1,338	3,181	1,774	-305	0	0	0
Tax receivable agreement liability
18,225	17,291	-23,054	-23,295	-22,429	-21,666	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other liabilities
-8,609	-7,100	-4,499	-3,678	-2,464	-501	-2,899	-6,660	-7,629	-6,416	-53,421	-48,015	-48,669	-51,141	-3,477	-3,594	-2,186	-1,286	-3,753	-4,770	-4,532	-6,373	0	0	0
Net cash used in operating activities
328,929	337,184	302,654	259,034	230,059	209,368	230,307	247,316	286,355	292,183	292,773	282,512	241,282	244,863	200,956	151,927	117,551	98,203	71,844	44,894	68,307	79,238	0	0	0
Cash flow from investing activities:
Acquisitions, net of cash acquired
2,550	5,392	37,965	95,663	134,866	246,017	214,345	315,002	376,590	374,930	376,974	253,418	200,180	336,958	0	0	0	-	-	-	-	397,854	0	0	0
Purchases of property, plant and equipment
177,136	177,495	176,695	194,597	233,368	220,685	230,420	216,715	192,595	194,146	179,016	170,902	165,414	153,483	141,223	137,240	110,367	88,950	81,590	70,281	73,929	76,162	0	0	0
Proceeds from the sale of property, plant and equipment
21,536	21,173	16,244	15,530	16,644	21,635	22,208	22,771	20,535	17,072	13,936	15,837	15,174	16,868	20,449	16,513	16,388	13,110	12,674	13,420	13,905	13,366	0	0	0
Other
-884	1,095	-937	-2,681	-2,126	-3,804	-2,007	-76	-55	471	0	0	0	-	-	-	-	-1,510	777	777	913	630	0	0	0
Net cash used for investing activities
-157,266	-162,809	-197,479	-250,485	-327,900	-419,699	-398,986	-508,870	-548,595	-552,475	-540,451	-406,925	-346,525	-470,652	-454,388	-909,145	-851,321	-584,347	-621,072	-236,485	-276,277	-461,280	0	0	0
Cash flow from financing activities:
Proceeds from equity offerings
-	-	-	-	-	-	-	-	-	237,600	0	0	0	-	-	-	-	1,037,444	0	0	0	-	0	0	0
Capital issuance costs
-	-	-	-	-	-	-	-	-	627	0	0	0	-	-	-	-	61,609	0	0	0	-	-	-	-
Proceeds from debt issuances
0	300,000	300,000	364,500	364,500	64,500	0	0	0	-	-	-	-	354,000	687,125	1,827,875	1,894,875	1,748,875	1,520,783	579,500	559,500	762,250	0	0	0
Debt issuance costs
538	6,312	6,312	6,246	6,324	550	1,649	1,658	5,717	6,416	5,443	5,999	1,499	5,801	9,010	14,226	15,192	14,246	11,162	7,861	6,831	9,085	0	0	0
Payments on debt
19,389	270,229	270,921	335,295	337,403	85,042	82,578	17,922	16,844	16,438	19,335	66,314	120,810	120,702	368,333	1,099,534	1,402,503	1,505,486	1,382,340	749,652	441,397	389,270	0	0	0
Purchase of noncontrolling interests
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	497,848	0	0	0	-	-	-	-
Payments on acquisition-related liabilities
34,465	33,883	12,183	14,438	36,475	36,504	47,355	48,670	27,198	34,650	25,736	23,582	36,481	32,040	31,958	31,748	25,997	18,056	20,146	18,646	14,329	10,935	0	0	0
Distributions from partnership
-	-	-	-	-	69	1,934	1,964	1,904	1,974	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from stock option exercises
18,620	19,076	2,559	784	906	15,615	18,466	31,540	36,365	21,661	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Other
-909	-502	-531	-541	-624	-1,943	-1,936	-1,941	-1,958	-869	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net cash (used in) provided by financing activities
-36,681	8,150	12,612	8,764	-15,480	-43,993	-53,018	-41,147	284,223	499,755	502,644	468,549	169,383	182,707	266,064	754,461	511,389	660,337	559,065	180,101	485,899	377,222	0	0	0
Impact of foreign currency on cash
-705	286	-128	-59	-135	-724	-455	42	203	701	473	-241	-277	69	24	-645	-355	-1,003	0	0	0	-	-	-	-
Net (decrease) increase in cash
134,277	182,811	117,659	17,254	-113,456	-255,048	-222,152	-302,659	22,186	240,164	255,439	343,895	63,863	-43,013	12,656	-3,402	-222,736	173,190	8,991	-11,499	277,578	-4,969	0	0	0
Summit Materials, LLC
Net loss
116,536	88,597	42,540	47,768	40,869	63,837	0	113,074	120,299	134,041	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation, depletion, amortization and accretion
220,630	222,341	222,370	220,570	219,581	208,055	0	200,080	194,470	192,213	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Share-based compensation expense
19,402	20,403	20,969	21,793	22,777	25,378	0	25,906	24,899	21,140	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net gain on asset disposals
10,492	10,294	10,862	26,522	27,751	30,093	0	11,094	10,050	7,638	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash loss on debt financings
0	-2,850	-2,850	-2,850	-2,850	0	0	-3,771	-3,771	-3,856	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Change in deferred tax asset, net
7,904	6,350	19,419	3,982	5,680	9,729	0	-25,350	-24,405	-23,070	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Other
571	2,135	464	-1,736	-486	-2,018	0	2,907	1,563	2,359	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Accounts receivable, net
37,228	37,049	36,511	27,353	13,657	5,796	0	-7,056	-10,412	3,720	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Inventories
17,692	-8,582	-30,725	-38,038	-22,945	11,598	0	43,765	29,180	18,609	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Costs and estimated earnings in excess of billings
-5,727	-5,558	2,144	892	4,483	8,702	0	14,779	-2,977	1,825	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Other current assets
-6,393	-5,465	-5,295	1,808	7,404	7,159	0	-3,385	-4,007	-8,703	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Other assets
-8,052	-5,085	-6,103	-3,488	-1,723	106	0	741	1,613	3,103	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable
21,622	18,208	13,347	-8,112	-11,787	-13,989	0	3,469	-3,805	8,040	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Accrued expenses
-6,173	8,335	-5,900	-8,823	-14,847	-16,653	0	1,687	5,227	-6,230	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Billings in excess of costs and estimated earnings
3,428	1,988	-584	-4,003	-4,459	-5,052	0	-3,330	1,024	109	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Other liabilities
-8,609	-7,100	-4,499	-3,678	-2,464	-501	0	-6,660	-7,629	-6,416	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in operating activities
328,929	337,184	302,654	259,034	230,059	209,368	0	249,802	288,841	295,132	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Acquisitions, net of cash acquired
2,550	5,392	37,965	95,663	134,866	246,017	0	315,002	376,590	374,930	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of property, plant and equipment
177,136	177,495	176,695	194,597	233,368	220,685	0	216,715	192,595	194,146	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from the sale of property, plant and equipment
21,536	21,173	16,244	15,530	16,644	21,635	0	22,771	20,535	17,072	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Other
-884	1,095	-937	-2,681	-2,126	-3,804	0	-76	-55	471	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used for investing activities
-157,266	-162,809	-197,479	-250,485	-327,900	-419,699	0	-508,870	-548,595	-552,475	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Capital contributions by member
18,620	19,076	2,559	784	906	15,615	0	76,563	81,387	304,541	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Capital issuance costs
-	-	-	-	-	-	-	-	-	627	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from debt issuances
0	300,000	300,000	364,500	364,500	64,500	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Debt issuance costs
538	6,312	6,312	6,246	6,324	550	0	1,658	5,717	6,416	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Payments on debt
19,389	270,229	270,921	335,295	337,403	85,042	0	17,922	16,844	16,438	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Payments on acquisition-related liabilities
31,965	31,383	9,683	11,938	33,975	34,004	0	46,170	24,698	32,150	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Distributions from partnership
2,500	2,500	2,500	2,500	2,560	2,569	0	51,976	51,916	51,986	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Other
-909	-502	-531	-541	-624	-1,943	0	-1,938	-1,954	-866	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net cash (used in) provided by financing activities
-36,681	8,150	12,612	8,764	-15,480	-43,993	0	-43,633	281,737	497,526	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Impact of foreign currency on cash
-705	286	-128	-59	-135	-724	0	42	203	701	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net (decrease) increase in cash
134,277	182,811	117,659	17,254	-113,456	-255,048	0	-302,659	22,186	240,884	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-