SCHWEITZER-MAUDUIT INTERNATIONAL, INC. SWM Cash Flow

Schweitzer-mauduit international, inc. (SWM)

CashFlow / Quarterly

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	Dec'10	Sep'10	Jun'10	Mar'10
Operating
Net Income (Loss) Attributable to Parent
22,500	20,200	27,700	20,500	17,400	7,200	41,000	25,800	20,500	-27,300	25,800	22,300	13,700	17,000	18,700	26,000	21,100	21,700	25,800	23,400	18,800	18,500	23,000	25,000	23,200	-9,700	29,100	26,600	30,100	16,500	27,700	21,000	14,600	47,600	9,000	19,800	16,200	13,700	18,200	14,800	18,600
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent
-	-	-	-	-	0	100	0	-400	0	100	0	0	0	0	0	0	100	200	-1,100	0	100	-100	0	0	1,500	-500	-2,800	-600	-13,300	-6,000	-2,500	-2,500	1,900	-500	-500	-400	-2,400	-3,000	-1,000	-1,200
Income from continuing operations
-	-	-	-	-	7,200	40,900	25,800	20,900	-27,300	25,700	22,300	13,700	17,000	18,700	26,000	21,100	21,600	25,600	24,500	18,800	18,400	23,100	25,000	23,200	-11,200	29,600	29,400	30,700	29,800	33,700	23,500	17,100	45,700	9,500	20,300	16,600	16,100	21,200	15,800	19,800
Non-cash items included in net income:
Depreciation and amortization
15,300	14,300	14,500	14,500	14,400	14,800	15,800	15,400	15,600	12,800	14,800	15,300	16,600	11,200	11,200	11,300	10,800	12,000	9,500	9,800	9,700	10,200	11,300	10,500	13,100	10,300	8,900	9,600	8,500	9,800	9,400	9,500	9,800	9,100	11,500	10,800	10,700	10,000	9,700	9,900	10,000
Impairments
-	-	-	-	-	-	-	-	-	-	-	-	-	20,800	0	0	500	3,200	0	2,800	700	0	0	0	0	-	-	-	-	200	0	3,100	16,900	3,400	3,400	0	0	-	-	-	-
Deferred income tax
700	-1,200	-1,500	-200	-500	4,500	700	1,500	800	-800	700	1,700	0	-10,200	-3,500	100	100	-7,200	-400	0	900	700	-300	1,300	1,600	4,500	5,100	2,800	4,900	4,500	7,300	3,500	-2,200	-7,600	-8,300	-1,900	3,900	4,800	8,300	5,300	7,000
Amortization of deferred revenue
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	1,100	2,500	2,400	1,200	9,900	-2,100	-1,800
Pension and other postretirement benefits
800	500	800	600	700	0	800	1,000	1,000	1,300	500	1,000	1,000	1,100	900	900	900	800	1,100	1,000	1,300	-1,700	800	0	2,100	-2,300	1,000	1,600	800	-600	-600	900	1,300	-4,100	-5,000	1,200	1,400	500	400	500	700
Stock-based compensation
2,200	3,700	1,500	1,600	900	1,100	1,200	1,000	1,500	2,600	2,300	800	1,400	2,100	1,000	1,300	1,400	1,700	200	600	1,000	1,600	1,300	1,900	1,100	1,200	1,200	700	100	2,400	1,400	1,500	1,600	800	1,000	1,100	900	2,100	2,100	1,400	2,100
Income (Loss) from Equity Method Investments
0	3,700	1,300	-700	-200	-10,800	300	-500	-300	2,100	0	300	100	2,400	1,800	700	-100	2,300	100	2,800	1,400	1,800	-700	300	600	4,300	-1,900	600	800	4,800	1,400	-2,700	500	1,300	1,400	1,100	900	1,100	800	700	600
Gain (Loss) on Disposition of Intangible Assets
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	1,800	0	0	4,300	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax deficit of stock-based awards
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-200	0	0	100	400	0	0	0	600	0	0	0	500	1,300	0	0	100	900	100	0	9,000	-	-	-	-
Other items
-2,700	-200	1,100	-1,000	1,900	500	-1,200	800	300	900	1,000	-800	-400	600	400	100	-1,700	-200	-200	0	500	1,700	1,200	-500	-1,600	-1,300	1,200	1,400	-300	1,100	-1,400	100	100	0	-800	-700	-1,600	-600	-1,100	1,900	-3,600
Changes in operating working capital, net of assets acquired:
Accounts receivable
33,700	-15,400	-7,600	-300	12,500	-5,400	4,600	6,000	13,100	-15,800	2,900	5,200	8,600	-17,800	9,800	-8,700	13,600	-14,600	14,700	-8,000	25,900	-43,500	13,700	-1,800	18,300	-11,300	1,800	-1,900	7,000	-10,500	-2,500	6,100	-7,400	-2,800	19,700	11,400	-2,500	-	-	-	-
Inventories
-10,800	9,400	-800	-1,400	4,000	1,700	-2,200	7,100	-1,700	7,800	-900	1,700	-2,200	11,800	2,800	-2,800	-4,900	-4,300	-1,400	4,600	-200	-3,700	-12,100	-700	1,600	600	-3,900	400	3,900	-1,300	-1,100	4,200	4,300	5,200	-5,700	-200	6,600	-	-	-	-
Prepaid expenses
3,500	-200	-1,500	-800	2,700	-200	-1,800	-600	2,700	-1,400	-1,300	200	1,700	-500	-300	-100	1,400	-1,100	-700	500	200	-100	-200	-600	1,500	0	-600	-400	900	700	-400	-200	900	-400	-9,700	8,300	1,400	-	-	-	-
Accounts payable
1,300	-4,400	4,500	-9,700	7,500	6,300	-2,800	2,400	2,100	3,500	-1,900	4,000	-900	-1,200	4,300	-2,500	-4,300	4,500	3,600	-5,900	4,300	-500	-200	1,500	2,300	5,200	-7,400	-1,100	1,800	-3,300	-1,400	-1,900	-400	-300	2,400	2,700	-8,300	-	-	-	-
Accrued expenses and other current liabilities
-10,700	5,300	3,500	6,800	-11,700	3,300	3,000	2,300	-9,600	-2,800	7,300	-200	-7,300	8,000	4,200	-5,400	-6,000	5,200	-800	1,600	-2,300	-2,900	500	-4,800	-800	0	1,300	1,900	200	-4,300	600	200	-4,600	-3,800	5,900	3,300	-3,900	-	-	-	-
Accrued income taxes
2,100	200	600	-5,200	1,400	-6,500	-200	-4,500	3,200	-200	1,500	-5,400	-3,000	-9,900	7,700	-8,100	6,500	5,600	-1,600	10,200	4,000	2,300	-2,400	-4,200	200	900	-1,400	-10,500	6,400	2,300	-700	-5,000	8,100	10,200	-1,200	-1,000	200	-	-	-	-
Net changes in operating working capital
33,700	-7,300	-18,500	5,600	22,000	-7,000	600	12,300	18,400	-9,900	-6,200	8,700	19,300	-3,400	-3,900	4,400	13,900	-35,300	11,400	-8,800	19,900	-46,200	3,500	4,400	19,700	-16,800	4,800	7,800	3,400	-5,800	-2,500	16,800	-5,300	-4,100	-2,800	14,500	17,500	-6,700	-42,300	15,000	5,200
Net cash provided by operating activities of:
- Continuing operations
-	-	-	-	-	45,900	37,100	33,900	22,000	37,700	48,400	31,900	12,900	46,600	30,800	34,600	17,700	64,900	24,300	44,200	11,200	75,300	34,600	37,900	18,600	54,600	40,500	40,700	40,000	49,900	50,900	28,000	49,300	49,200	27,400	12,700	2,100	39,200	38,400	47,400	38,800
- Discontinued operations
-	-	-	-	-	0	0	200	0	0	0	0	100	100	0	0	-100	-400	200	300	0	-1,200	-200	1,200	-300	400	800	-200	1,300	-700	-500	-1,400	-900	-5,600	-1,700	-300	-2,300	-3,300	-7,900	-4,100	-7,400
Net cash provided by operations
5,100	41,400	63,900	42,000	13,000	45,900	37,100	34,100	22,000	37,700	48,400	31,900	13,000	46,700	30,800	34,600	17,600	64,500	24,500	44,500	11,200	74,100	34,400	39,100	18,300	55,000	41,300	40,500	41,300	49,200	50,400	26,600	48,400	43,600	25,700	12,400	-200	35,900	30,500	43,300	31,400
Investing
Capital spending
7,400	8,600	4,800	7,900	7,300	7,200	6,100	7,700	6,000	9,700	8,200	8,200	11,100	10,300	7,800	5,200	4,500	10,200	4,900	3,900	5,200	8,900	11,100	7,000	8,100	8,900	11,000	3,600	5,600	6,800	6,400	6,200	7,800	9,000	9,800	14,400	27,700	28,000	71,500	-35,700	9,900
Capitalized software costs
700	1,600	1,100	1,400	1,400	1,600	500	200	400	900	1,000	800	800	1,100	800	700	200	200	200	300	200	500	300	100	100	100	300	100	0	400	200	200	100	100	200	200	800	1,000	14,400	-8,800	2,700
Acquisitions, net of cash acquired
170,600	-	-	-	0	-	-	-	-	0	0	-1,700	293,400	0	0	0	0	-	-	-	-	30,300	-100	0	2,400	229,700	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Investment in equity affiliates
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	5,500	3,300	0	0	0	0	0	100	16,400	4,500	6,900	2,800	2,500	0	-	-	-	-
Other investing
-2,400	-3,500	-300	300	-1,100	400	-3,300	-100	800	-1,300	-3,800	-2,400	600	-4,000	-2,300	-2,700	800	10,900	-500	-900	-1,500	500	-5,000	3,800	-2,300	-5,100	-1,100	-2,400	3,000	-1,500	-3,000	3,000	4,100	400	-4,100	3,400	-2,000	-1,400	-2,400	5,100	-3,100
Net cash used in investing
-176,300	8,000	-5,600	-9,600	-7,600	-9,200	-3,300	-7,800	-7,200	-9,300	1,600	-4,900	-305,900	-7,400	-6,300	-3,200	-5,500	-301,500	-4,600	-3,700	-3,900	-40,200	-6,300	-16,400	-11,600	-233,600	-10,200	-1,300	-8,600	-5,700	-3,700	-25,800	-16,500	-16,400	-8,700	-20,500	-26,500	-27,600	-23,700	-20,400	-9,500
Financing
Cash dividends paid to SWM stockholders
13,700	13,600	13,600	13,600	13,600	13,500	13,300	13,200	13,200	13,200	12,900	25,800	0	12,800	12,200	12,200	12,200	12,200	11,600	11,500	11,600	11,500	11,000	10,900	11,100	11,200	9,500	9,400	9,400	4,700	4,600	2,400	2,400	2,400	2,400	2,600	2,700	2,700	13,500	-8,100	2,700
Changes in short-term debt
0	0	0	100	-200	100	100	-100	-1,400	1,500	-900	900	0	-	-	400	100	-600	-100	-200	500	-5,900	5,300	-4,000	4,200	-400	1,100	-1,200	500	-3,200	4,500	-1,700	-1,500	5,200	-3,600	500	200	400	1,200	1,200	500
Proceeds from issuances of long-term debt
212,000	19,000	0	100	0	-	-	-	-	100	152,600	1,300	286,500	0	4,000	4,500	27,100	452,700	8,100	12,300	15,100	13,000	5,300	93,000	117,000	402,200	22,000	21,300	10,100	3,200	100	32,600	7,100	8,000	14,200	148,400	56,100	100	100	4,300	43,700
Payments on long-term debt
400	38,600	45,600	14,700	600	17,100	635,400	31,800	9,700	12,600	187,300	8,200	700	3,800	70,300	77,100	19,800	270,600	6,100	58,900	3,100	13,200	11,200	87,400	58,800	168,600	38,200	18,200	3,100	11,500	13,300	1,900	5,100	25,200	8,300	94,800	200	400	111,500	-108,100	52,500
Payments for debt issuance costs
-	-	-	-	-	-	-	-	-	0	0	0	600	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of common stock
1,000	-100	0	100	900	200	100	200	2,500	100	100	-100	1,100	100	0	0	600	0	0	0	2,900	0	-100	300	52,300	0	0	0	1,700	0	4,300	24,100	21,600	0	16,400	58,700	45,800	0	19,800	-1,400	600
Excess tax deficit of stock-based awards
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-200	0	0	100	400	0	0	0	600	0	0	0	500	1,300	0	0	100	900	100	0	9,000	300	200	100	1,000
Proceeds from exercise of stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	200	0	0	300	2,700	0	0	100	1,900	200	100	0	600	500	0	1,100
Net cash provided by (used in) financing
196,900	-33,100	-59,200	-28,200	-15,300	-32,800	-16,800	-44,500	-26,800	-24,300	-48,600	-31,700	284,100	-16,700	-79,000	-84,400	-5,600	161,900	-9,700	-58,200	-1,600	-17,600	-11,500	-9,600	-400	222,200	-24,600	-7,500	-2,800	-12,200	-17,600	2,500	-23,300	-11,600	-16,200	-7,100	16,600	-1,700	-19,200	-400	-9,500
Effect of exchange rate changes on cash and cash equivalents
-2,000	1,800	-2,000	200	-500	-600	-400	-4,000	1,200	2,200	1,400	2,700	1,200	-4,700	200	-3,400	7,200	-6,900	600	7,800	-28,700	-12,000	-22,000	400	-400	5,900	3,300	-100	0	2,100	500	-400	200	-400	-1,600	100	0	0	1,200	-500	600
Increase (decrease) in cash and cash equivalents
23,700	18,100	-2,900	4,400	-10,400	3,300	16,600	-22,200	-10,800	6,300	2,800	-2,000	-7,600	17,900	-54,300	-56,400	13,700	-82,000	10,800	-9,600	-23,000	4,300	-5,400	13,500	5,900	49,500	9,800	31,600	29,900	33,400	29,600	2,900	8,800	15,200	-800	-15,100	-10,100	6,600	-11,200	22,000	13,000
Supplemental Cash Flow Disclosures
Cash paid for interest, net
2,300	-	2,100	12,000	3,500	-	7,100	7,200	6,300	-	6,000	5,700	3,500	-	3,100	3,800	3,600	-	1,500	1,800	1,900	-	1,000	1,400	1,200	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid for taxes, net
2,300	-	3,500	10,300	3,300	-	6,100	11,100	3,400	-	7,600	13,400	9,800	-	6,400	16,700	1,300	-	300	-5,000	1,000	-	-	-	4,300	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in capital spending in accounts payable and accrued liabilities
2,900	-	-800	2,000	1,700	-	-1,300	800	1,000	-	900	100	3,400	-	-500	400	1,400	-	-1,600	600	2,000	-	2,800	300	1,600	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred contingent business acquisition consideration
-	-	-	-	-	-	-	-	-	-	0	0	8,600	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-