TransDigm Group Incorporated TDG Cash Flow

Transdigm group incorporated (TDG)

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	Dec'09
Net Income
319,000	305,000	-	-	202,000	196,000	-	-	-	314,775	153,458	169,053	155,505	118,871	154,668	160,622	141,683	129,441	141,673	99,112	110,894	95,533	114,255	16,177	90,355	86,123	84,027	76,655	67,937	74,170	87,866	90,446	81,552	65,105	67,395	56,280	55,817	-7,358	50,635	44,006	38,046	30,758
Net income from discontinued operations
-3,000	71,000	50,432	-2,000	2,000	0	-1,531	-145	-5,562	2,764	-30,689	-779	-186	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,082	-2,088	19,120	-205	-	-	-	-
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation
26,000	29,000	27,937	29,752	17,000	15,000	15,149	14,521	13,342	13,385	13,356	12,848	12,449	12,284	12,396	10,726	10,633	9,700	10,020	9,572	7,922	8,425	8,585	8,328	8,226	7,404	7,368	6,532	6,539	6,868	6,305	6,233	5,840	5,314	5,417	5,117	5,219	4,339	4,054	3,773	3,783	3,476
Amortization of intangible assets
46,000	40,000	50,219	43,792	22,000	20,000	19,161	19,404	17,628	17,254	18,593	23,520	22,211	25,764	24,173	18,838	18,703	16,501	15,876	17,349	11,142	13,357	13,259	16,493	17,655	16,435	16,312	9,530	9,782	10,584	11,276	11,384	9,407	12,468	-	-	11,462	4,277	3,577	3,812	3,550	4,140
Amortization of debt issuance costs, original issue discount and premium
8,000	8,000	7,836	7,198	7,000	6,000	5,949	5,585	5,275	5,319	5,576	5,360	5,550	4,620	4,500	4,047	3,832	3,832	3,808	4,042	3,948	3,999	4,037	3,468	3,345	3,085	3,076	1,891	3,170	3,796	3,401	3,402	3,125	2,616	2,611	2,606	2,543	2,082	1,908	1,899	1,893	1,878
Amortization of inventory step-up
0	0	-32,421	89,348	16,000	4,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss contracts amortization
-14,000	-11,000	-	-	-3,000	-2,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Refinancing costs
4,000	22,000	-527	540	3,000	0	486	4,159	638	1,113	3,871	345	3,507	32,084	140	15,654	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	37	38	1,649	70,730	-	-	-	-
Share-based Payment Arrangement, Noncash Expense
11,000	26,000	23,318	32,082	20,000	18,000	22,089	13,708	11,590	11,113	12,793	11,581	11,106	10,020	14,487	11,371	11,767	10,681	8,065	9,841	7,830	5,764	7,483	6,516	8,158	4,175	2,904	31,718	7,131	7,131	7,758	5,858	4,887	3,648	5,721	2,799	2,197	1,857	1,667	1,753	1,656	1,628
Excess tax benefits related to share-based payment arrangements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	11,385	12,551	29,765	8,264	11,228	29,783	7,062	3,636	22,416	3,741	13,356	26,688	10,024	16,300	15,181	9,050	6,779	4,192	8,277	4,163	1,388	1,400	3,440	11,231
Deferred income taxes
7,000	2,000	5,499	-12,150	7,000	0	-15,143	191	-3,545	170,137	1,188	76	-839	493	-1,319	-1,865	-2,023	-601	3,224	1,644	-4,605	-923	6,889	-3,603	6,043	87	9,390	-1,294	-4,224	-1,258	-22,880	-5,390	-1,230	4,700	-1,528	-18,042	12,900	-2,218	-2,000	-900	-500	1,500
Other, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Changes in assets/liabilities, net of effects from acquisitions of businesses:
Trade accounts receivable
-23,000	-51,000	16,922	58,346	52,000	-45,000	42,950	6,725	75,311	-81,175	33,474	24,303	56,704	-59,812	42,766	18,864	32,852	-14,368	18,374	-2,612	26,752	-17,096	-624	11,556	10,343	3,034	2,315	16,347	23,665	-17,321	-4,971	-2,265	28,939	-19,746	15,153	5,251	13,883	-19,294	8,895	8,160	9,552	-8,886
Inventories
28,000	69,000	-64,330	55,042	16,000	29,000	-7,269	8,820	3,829	12,508	-5,452	7,221	1,469	-8,365	-13,616	155	1,426	14,108	-2,023	8,623	6,728	12,646	-18	3,530	2,664	2,216	-1,473	-1,464	6,705	11,521	-3,282	2,926	-165	937	2,565	8,363	2,526	-3,793	2,461	-150	-944	-4,260
Income taxes receivable/payable
-103,000	30,000	6,733	-25,400	-36,000	52,000	29,431	-19,918	-23,820	50,468	31,001	-36,488	2,558	21,148	29,303	-37,994	-19,411	15,803	56,552	4,358	-36,081	40,589	48,104	-880	-35,747	45,118	34,074	6,253	-8,766	33,949	-2,538	32,153	-31,307	35,789	10,959	-33,135	4,969	-5,052	212	2,867	-6,595	16,610
Other assets
27,000	5,000	2,292	-29,525	45,000	9,000	2,313	-6,303	10,334	-1,531	6,460	-47	-675	4,826	6,697	3,113	-3,974	-917	12,545	-682	-2,627	3,156	7,568	1,390	-99	-3,156	706	915	269	-3,045	13,478	-1,025	729	-2,618	674	2,615	-538	-59	435	-2,209	-2,579	3,840
Accounts payable
2,000	-14,000	5,804	-8,436	-2,000	3,000	17,351	1,348	3,804	-4,428	1,988	5,203	8,655	-26,200	20,446	562	495	-28,160	14,128	10,701	11,424	-22,773	21,400	-403	1,361	-24,773	32,157	-6,822	2,580	-4,405	-2,064	2,536	11,577	-15,669	7,538	994	7,901	-11,949	12,821	1,254	749	-9,891
Accrued interest
-20,000	88,000	-98,960	67,012	7,000	21,000	7,698	5,787	-789	1,672	-1,699	1,563	1,728	-2,550	-16,985	34,094	-29,115	29,939	-51,360	28,678	-55,723	74,471	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accrued and other liabilities
-82,000	6,000	-41,650	-1,103	-8,000	-10,000	13,180	-18,491	17,294	-15,157	-17,607	2,505	-2,087	-33,108	-7,478	-2,357	-2,095	-10,846	-7,980	8,223	-11,386	-24,359	-9,970	-9,492	38,245	-16,043	56,606	-37,766	20,291	-17,393	36,427	-48,605	55,241	-48,854	32,206	-32,961	31,414	-18,184	-21,454	20,169	-8,879	11,423
Net Cash Provided by (Used in) Operating Activities, Continuing Operations
161,000	433,000	247,116	315,356	123,000	330,000	331,263	237,226	160,873	292,811	233,517	164,716	164,709	225,791	201,122	195,296	108,211	178,669	147,511	190,511	-6,043	188,959	191,693	129,041	104,781	115,707	203,170	69,746	99,174	98,115	156,062	92,861	96,868	68,094	117,343	13,892	67,003	62,148	42,041	71,432	24,234	59,597
Capital expenditures
23,000	27,000	21,170	36,421	20,000	24,000	23,244	19,213	15,594	15,290	15,342	17,235	16,629	21,807	13,975	7,693	12,142	10,172	14,572	17,300	14,861	8,138	-	-	-	8,097	11,902	7,317	7,639	8,677	9,037	7,100	4,406	4,703	5,805	3,835	5,399	2,987	3,016	2,941	3,437	3,493
Payments made in connection with acquisitions, net of cash acquired
0	0	19,211	387,944	3,540,000	29,000	85,357	531,942	50,320	0	80,483	105,505	0	30,002	256,058	998,626	144,380	0	-	-	-	-	0	856	47,124	263,892	1,549	473,341	8,501	-134	34,725	459	749,700	83,812	288,364	-203	1	1,362,201	70,643	0	164	95,750
Proceeds in connection with the sale of discontinued operations, net
0	904,000	188,766	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash proceeds from sale of investment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,850	0	5,500	5,000	-	-	-	-	-	-	-	-	-	-	-	-
Net Cash Provided by (Used in) Investing Activities, Continuing Operations
-23,000	877,000	148,385	-424,365	-3,560,000	-53,000	-108,904	-551,155	-8,228	-15,290	-16,130	-123,556	-95,508	-51,809	-270,033	-1,006,319	-156,522	-10,172	-345,352	-587,598	-738,061	-8,138	-8,696	-8,597	-40,356	-271,989	-7,601	-480,658	-10,640	-3,543	-26,112	-7,559	-754,106	-88,515	-294,169	27,729	234,600	-1,365,188	-70,774	-2,941	-3,601	-99,243
Excess tax benefits related to share-based payment arrangements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	11,385	12,551	29,765	8,264	11,228	29,783	7,062	3,636	22,416	3,741	13,356	26,688	10,024	16,300	15,181	9,050	6,779	4,192	8,277	4,163	1,388	1,400	3,440	11,231
Proceeds from exercise of stock options
49,000	20,000	17,596	17,279	33,000	14,000	16,962	14,316	19,015	7,290	3,131	5,701	8,697	3,648	4,792	12,936	3,492	8,892	8,692	13,860	31,731	7,391	12,089	5,227	6,529	2,893	6,688	1,927	7,378	5,541	2,772	5,622	3,813	3,503	1,463	1,526	3,239	2,980	3,068	1,361	1,363	569
Dividends and dividend equivalent payments
1,864,000	64,000	1,687,910	309	0	24,000	0	0	0	56,148	1,205,518	36	0	1,375,998	0	0	0	3,000	0	0	0	3,365	6,098	1,435,668	5,486	4,139	1,288,944	0	0	702,406	0	0	0	3,299	0	1	0	2,810	0	0	0	404,868
Payments for Repurchase of Common Stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	136,980	70,775	0	0	0	0	-	-	-	-	-	-	-	-	0	0	0	846	-	-	-	-	-	-	-	-
Proceeds from Lines of Credit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-13	147,373	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of Long-term Debt
-	-	-	-	-	-	19,107	11,322,146	17,421	815,631	1,236,245	16,151	16,151	16,151	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Redemption of senior subordinated notes due 2022, net
-1,168,000	1,168,000	0	0	550,000	0	0	0	0	-	-528,847	0	0	528,847	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	780,000	-	-	-	-
Repayment on credit facility
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	993,574	9,824	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment on new senior secured credit facility
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,875	-	-	-	-	-	-	-	-
Proceeds from 5.50% senior subordinated notes due 2027, net
-2,625,000	2,625,000	-214	-538	545,000	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	542,000	-	-	-	-	-133	-217	-631	1,583,165	-	-	-	404,503
Proceeds from Issuance of Senior Long-term Debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-4,959	1,505,007	-	-	-	-
Proceeds from Issuance of Long-term Debt
-	-	-	-	-	-	-78	11,986,730	-822	793,864	1,805,018	-19	0	1,132,774	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repurchase of 2018 Notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	32,625	1,009,269	-	-	-	-
Financing fees and other, net
-9,000	1,000	73	814	-2,000	0	-928	-7,749	-1,793	-362	-6,794	-32	-10,602	-143	-1,271	-2,256	34	-87	-317	-908	0	-41	51	0	0	-78	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Cash Provided by (Used in) Financing Activities, Continuing Operations
-1,662,000	1,414,000	-1,640,287	-3,360	3,925,000	-10,000	-3,954	1,161,562	-1,021	-70,987	-541,068	-61,014	-56,883	-784,717	-10,828	1,863,639	-144,414	-75,930	-3,302	919,078	126,922	12,249	-91,758	133,075	344	2,312	99,795	-19	37,223	19,196	7,671	16,400	498,582	4,533	4,234	1,625	-30,574	1,303,236	4,456	2,549	4,760	11,435
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS
-2,000	3,000	-4,540	164	4,000	-3,000	1,239	-5,267	1,521	767	3,686	5,021	711	-3,899	38	2,064	-551	-1,309	-174	840	-1,928	-989	-825	-76	-2	154	204	79	-164	139	185	-465	237	-395	-	-	-	-	-	-	-	-
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect
-1,526,000	2,727,000	-1,249,326	-112,205	492,000	264,000	219,644	842,366	153,145	207,301	-319,995	-14,833	13,029	-614,634	-79,701	1,054,680	-193,276	91,258	-201,317	522,831	-619,110	192,081	90,414	253,443	64,767	-153,816	295,568	-410,852	125,593	113,907	137,806	101,237	-158,419	-16,283	-173,068	43,914	271,029	196	-24,277	71,040	25,393	-28,211
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid during the period for interest
269,000	155,000	344,344	168,187	211,000	154,000	165,313	158,718	157,020	153,929	153,423	144,984	145,609	143,702	153,234	80,362	136,279	78,733	169,312	67,757	146,563	15,307	87,888	104,527	50,037	77,125	30,096	98,283	40,618	67,772	20,979	82,924	15,946	77,938	16,169	78,353	26,686	34,641	45,928	6,975	38,011	6,799
Cash paid during the period for income taxes, net of refunds
154,000	29,000	31,674	62,480	119,000	2,000	5,649	66,991	56,873	-267	27,396	102,355	56,500	-956	38,217	68,378	75,812	884	-3,372	44,533	85,258	944	11,073	2,287	84,132	306	15,262	29,906	36,229	895	25,780	20,378	46,387	11,393	19,054	44,747	24,556	10	23,375	21,078	27,895	150