| Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 |
|---|---|---|---|---|---|---|
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||
Net income attributable to TAT Technologies Ltd. shareholders | ||||||
- | - | - | - | 2,802 | -1,714 | -1,030 |
Net loss from discontinued operations | ||||||
- | - | - | - | -2,429 | -1,147 | -548 |
Net income | ||||||
2,396 | 62 | 5,849 | 1,432 | 5,231 | -567 | -482 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||||||
Depreciation and amortization | ||||||
3,941 | 3,636 | 2,781 | 2,069 | 1,859 | 1,906 | 2,618 |
Exchange differentials of loans | ||||||
- | - | - | 1 | -23 | -16 | 19 |
Write down of inventory | ||||||
- | - | - | - | 67 | 0 | 2,500 |
Impairment of goodwill, intangible assets and other long lived assets | ||||||
- | - | - | - | - | - | 2,965 |
Loss on sale of property, plant and equipment | ||||||
-54 | -12 | 0 | -10 | 20 | 12 | 190 |
Loss (gain) from change in fair value of derivatives | ||||||
490 | 152 | -10 | 0 | 27 | 399 | -372 |
Interest from short-term bank deposits and restricted deposits | ||||||
6 | 24 | 33 | 128 | 11 | 48 | 0 |
Change in provision for doubtful accounts | ||||||
321 | -29 | 206 | 0 | 17 | 258 | 31 |
Share in results and sale of equity investment of affiliated companies | ||||||
-210 | -55 | 1,237 | 267 | 1,025 | -3,756 | 331 |
Gain from dilution of interests in affiliated company | ||||||
- | - | - | - | - | - | 240 |
Share based compensation | ||||||
174 | 105 | 38 | 38 | 3 | 8 | -37 |
Gain on bargain purchase | ||||||
- | 0 | 4,833 | - | 0 | - | - |
Liability in respect of employee rights upon retirement | ||||||
-241 | -123 | -28 | 485 | -286 | -396 | 86 |
Deferred income taxes, net | ||||||
382 | 1,670 | -21 | 1,229 | 71 | 1,712 | -863 |
Changes in operating assets and liabilities: | ||||||
Amounts due to related parties, net | ||||||
- | - | - | -5 | 63 | -711 | 674 |
Decrease (increase) in trade accounts receivable | ||||||
4,493 | 2,392 | 2,375 | -2,730 | 1,001 | 979 | 1,717 |
Decrease (increase) in other current assets and prepaid expenses | ||||||
-488 | -1,487 | 85 | 833 | -1,195 | -266 | -1,161 |
Decrease (increase) in inventory | ||||||
-210 | 2,707 | 571 | 6,009 | -679 | 2,908 | 2,021 |
Increase in trade accounts payable | ||||||
578 | 1,192 | 436 | -509 | 278 | 581 | -82 |
Increase (decrease) in accrued expenses | ||||||
-1,505 | 2,521 | 525 | -715 | -417 | - | - |
Increase (decrease) in other accounts payable and accrued expenses | ||||||
- | - | - | - | - | 1,197 | -1,498 |
Increase (decrease) in other long-term liabilities | ||||||
-5 | -38 | 15 | -24 | 58 | -2 | 0 |
Net cash provided by operating activities | ||||||
2,496 | 5,521 | 733 | - | - | - | - |
Net cash provided by (used in) operating activities | ||||||
- | - | - | -1,458 | 7,203 | 5,892 | 1,407 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||
Proceeds from sale of marketable securities | ||||||
- | - | - | - | - | 1,900 | 50 |
Proceeds from sale of subsidiary (A) | ||||||
- | - | - | 2,176 | 0 | 0 | - |
Acquisitions of subsidiary, net of cash acquired in the amount of $1,164 (see note 3a) | ||||||
- | 0 | 1,796 | 0 | 0 | - | - |
Proceeds from sale of equity investment of affiliated company | ||||||
- | - | 3,624 | 0 | 0 | - | - |
Investment in affiliated company | ||||||
383 | 905 | 0 | 0 | - | - | - |
Funds in respect of employee rights upon retirement | ||||||
156 | -2 | -8 | -352 | 48 | 457 | -103 |
Proceeds from sale of property and equipment | ||||||
0 | 17 | 9 | 19 | 51 | 50 | 217 |
Purchase of property and equipment | ||||||
3,520 | 5,702 | 3,315 | 3,021 | 2,240 | 2,147 | 2,953 |
Investment in short-term deposit | ||||||
- | 0 | 8,109 | 0 | 0 | 10,000 | 0 |
Maturities of short-term deposits | ||||||
500 | 7,182 | 5,109 | 5,098 | 0 | 0 | - |
Net cash provided by (used in) investing activities | ||||||
-3,559 | 594 | -4,470 | - | - | - | - |
Proceeds released from restricted deposits | ||||||
- | - | - | - | -2,307 | -947 | -1,822 |
Net cash provided by (used in) investing activities | ||||||
- | - | - | 4,624 | 70 | -9,707 | -761 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||
Repayments of long-term loans | ||||||
- | - | - | 883 | 2,286 | 776 | 3,021 |
Proceeds from long-term loans received | ||||||
- | - | - | - | - | - | 674 |
Dividend paid | ||||||
3,000 | 3,000 | 0 | 2,000 | 0 | 2,500 | 0 |
Repayments of short-term loans | ||||||
- | 0 | 469 | 26 | 719 | 4,542 | 796 |
Payment of contingent consideration | ||||||
- | -500 | 0 | 0 | - | - | - |
Short-term credit received from a bank | ||||||
- | - | - | - | 26 | 627 | 2,645 |
Repurchase of treasury shares | ||||||
- | - | - | - | - | 70 | 0 |
Exercise of options | ||||||
144 | 130 | 0 | 0 | 43 | 0 | 0 |
Net cash used in financing activities | ||||||
- | - | - | -2,909 | -2,936 | -7,261 | -498 |
Cash provided by operating activities of discontinued operations | ||||||
- | - | - | - | 685 | 2,054 | 148 |
Cash provided by investing activities of discontinued operations | ||||||
- | - | - | - | -31 | -226 | 272 |
Cash used in financing activities of discontinued operations | ||||||
- | - | - | - | -304 | -285 | -351 |
Effect of exchange rate changes on cash and cash equivalents of discontinued operations | ||||||
- | - | - | - | 164 | 90 | -29 |
Net cash provided by discontinued operations | ||||||
- | - | - | - | 514 | 1,633 | 40 |
Net cash used in financing activities | ||||||
-2,856 | -3,370 | -469 | - | - | - | - |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | ||||||
-3,919 | 2,745 | -4,206 | 257 | 4,851 | -9,443 | 188 |
SUPPLEMENTARY INFORMATION ON INVESTING ACTIVITIES NOT INVOLVING CASH FLOW: | ||||||
Purchase of property, plant and equipment on credit | ||||||
632 | 268 | 76 | 44 | 590 | 0 | 0 |
Supplemental disclosure of cash flow information: | ||||||
Interest paid | ||||||
35 | 2 | 4 | - | - | - | - |
Interest paid | ||||||
- | - | - | 15 | 89 | -209 | -184 |
Interest received | ||||||
- | - | - | - | - | 265 | - |
Income taxes paid | ||||||
2,397 | 1,473 | 1,321 | 571 | 961 | 813 | 966 |
Income taxes refunds | ||||||
- | - | - | - | 1,383 | 780 | 1,793 |