Thermon group holdings, inc. (THR)
CashFlow / Quarterly
Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10
Operating activities
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest

6,522

6,921

1,461

6,749

9,717

3,325

3,378

6,594

833

5,078

714

3,349

5,317

3,674

2,644

3,474

8,669

6,981

4,526

10,501

15,603

11,748

11,534

9,582

12,583

10,572

-6,938

5,649

7,738

6,987

6,600

6,249

6,933

3,814

-4,966

-3,980

3,010

-1,797

-12,173

Adjustment to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization

7,123

7,071

6,885

6,939

7,200

7,770

8,056

7,932

6,944

4,892

4,652

4,630

4,448

4,524

4,230

4,438

4,647

4,312

4,012

3,464

3,545

3,576

3,558

3,545

3,557

3,543

3,533

3,525

3,450

3,439

3,417

3,348

3,285

3,392

3,946

3,498

4,228

9,295

10,517

Amortization of deferred debt issuance costs

704

574

296

709

313

416

318

1,224

259

85

89

92

96

100

102

103

109

411

109

114

113

119

118

118

123

124

4,207

197

220

1,724

1,180

27

336

1,449

2,315

583

526

493

2,346

Amortization of inventory step-up

0

0

0

-1

-1

-1

173

507

362

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Stock compensation expense

1,328

1,323

1,019

1,018

1,041

1,085

1,004

892

895

947

785

744

837

915

906

985

890

999

875

993

930

816

556

631

662

544

366

472

475

336

58

57

58

58

6,341

-

-

-

-

Deferred income taxes

-1,073

-1,257

-1,086

-4,141

599

-2,544

534

-3,720

-6,422

-521

-674

-468

-862

-1,099

-833

-2,432

-816

-250

-592

-1,346

-694

-1,078

-4,046

1,592

-151

-969

-4,901

1,056

30

-3,081

76

-4,772

-110

-818

753

-5,733

-976

1,345

-3,029

Release of reserve for uncertain tax positions

-41

15

447

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Long term cross currency swap

1,099

-111

909

2,251

-4,930

1,734

-2,368

-3,334

4,874

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-913

Premiums paid on redemptions, included as financing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-30,970

0

0

15,485

0

0

0

0

-

-

-

-

-

-

-

-

Remeasurement loss/(gain) on intercompany balances

-2,117

1,331

-1,478

-1,928

4,275

-536

2,336

1,898

-2,793

-197

319

773

-537

24

-108

-429

900

293

-254

337

982

1,198

-684

-177

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities:
Accounts receivable

-3,434

998

-7,311

4,215

19,789

743

-10,206

8,970

14,281

3,599

-13,032

4,488

1,934

124

-1,334

5,595

-6,383

2,783

-7,206

-5,981

5,210

5,618

7,395

4,496

-9,574

7,570

-5,386

1,218

2,209

-1,149

4,842

3,226

-564

3,303

5,470

-8,746

-8,537

9,822

5,167

Inventories

-2,915

-3,111

4,069

-4,882

-3,548

4,835

7,027

-42

683

4,361

4,057

-5,402

-500

-1,088

411

-4,820

-343

2,156

1,370

-2,090

4,064

5,093

-205

-2,176

3,516

2,392

-232

-6,200

-715

4,428

-902

-2,224

4,791

2,695

2,927

2,431

-51

3,872

-849

Contract assets

-887

6,682

2,372

19,344

-1,053

526

-6,827

12,909

-1,059

-4,221

-1,562

-3,036

1,898

-695

-766

1,302

-1,620

-325

993

4,829

-931

-508

122

-60

-513

477

-552

2,163

-964

711

-103

-113

262

-37

366

-313

239

64

375

Other current and non-current assets

-10

1,940

2,492

-5,959

1,401

1,806

3,122

-1,144

-179

1,666

1,284

475

-351

-2,384

2,787

498

207

384

1,036

-382

-410

599

1,034

-1,038

483

-1,425

503

-240

-800

323

106

-578

276

1,040

-2,329

872

-1,239

419

2,061

Accounts payable

-549

658

394

-3,016

2,743

-1,422

1,674

-614

-1,116

6,175

-2,442

-440

-918

1,307

-4,557

52

3,055

-644

-1,457

-4,691

-1,091

4,902

583

-2,058

-3,404

3,993

-1,688

-3,480

1,764

7,152

-541

-6,196

3,563

-607

1,948

1,581

-3,496

5,888

3,280

Accrued liabilities and non-current liabilities

-899

3,351

-6,893

5,017

3,974

2,167

-7,082

5,181

8,230

2,921

-2,382

2,988

-909

-940

-4,312

3,672

920

111

-5,297

3,290

2,364

377

2,365

-3,335

-1,098

2,399

-9,035

3,574

-1,095

1,207

-7,040

7,939

-3,334

2,451

-10,605

1,014

6,208

8,489

3,464

Income taxes payable and receivable

4,654

-50

-783

-3,342

1,494

1,220

-5,493

1,887

1,983

1,860

-1,689

-113

1,948

-1,904

-2,476

3,279

176

1,055

-3,736

-1,276

4,466

1,704

238

-302

2,178

-1,255

569

-89

179

17

550

2,531

1,476

-108

-13,676

8,152

-378

495

-1,054

Net cash provided by (used in) operating activities

22,305

26,651

3,399

13,381

7,730

6,356

-4,240

11,438

-1,419

7,393

5,501

14,028

10,235

9,254

-7,034

12,872

23,449

7,620

3,979

17,644

16,423

11,544

6,120

9,550

19,512

10,891

6,161

15,226

12,319

13,468

357

9,593

8,301

5,596

-20,378

12,890

19,444

10,031

-3,403

Investing activities
Payments to Acquire Property, Plant, and Equipment

2,862

2,113

1,726

3,228

3,106

2,836

2,866

3,826

1,295

3,082

1,805

2,944

1,612

1,805

2,009

3,117

2,134

3,547

3,783

1,927

2,521

876

751

929

973

848

617

1,019

2,365

1,612

1,268

2,704

1,912

1,888

2,379

553

20

352

777

Sale of rental equipment

226

19

126

-

156

441

81

-

292

165

4

-

83

209

20

-

1,062

664

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of property, plant and equipment

-

-

-

-

-

-

-

-

0

0

8

-

0

370

441

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash paid for acquisitions, net of cash acquired

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

20,224

10,956

3,890

0

0

0

-

-

-

-

86

66

6

131

22

291

0

372

-311,332

402

2,444

311,448

Purchase of investments

-

-

-

-

-

-

-

33

-193

4,188

4,095

7,814

36,972

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from the sale of investments

0

0

0

3

3

-139

-819

-274

-3,822

-13,937

-35,373

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,081

Net cash used in investing activities

-2,394

-2,094

-1,600

-2,918

-2,953

-2,233

-1,966

-3,105

-199,681

6,832

29,485

-10,720

-38,501

-1,226

-1,548

-2,650

-1,072

-23,107

-14,739

-5,817

-2,521

-876

-751

-929

-2,933

-943

-617

-1,105

-2,431

-1,618

-1,399

-2,726

-2,203

-1,888

-2,751

-1,162

-422

-1,715

-313,306

Financing activities
Proceeds from revolving credit facility

0

0

10,000

11,232

0

12,460

9,549

0

6,000

4,000

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

12,769

-11,063

2,500

8,563

-2,063

-4,599

0

395

4,204

Proceeds from senior secured notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

210,000

Payments on senior secured notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

118,145

0

0

0

21,000

0

4,265

24,590

42,000

-

-

-

-

Proceeds from long term debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

135,000

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of Long-term Debt

23,148

15,637

7,494

20,016

2,517

13,165

4,625

25,000

76,875

9,062

5,063

3,375

3,375

3,375

3,375

3,375

3,375

3,375

3,375

3,375

3,375

3,375

3,375

3,375

3,375

3,375

3,375

0

0

0

0

-

-

-

-

-6,662

395

2,751

1,453

Purchase of shares from non-controlling interests

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

290

0

0

0

1,728

-382

0

0

630

-

229

2,336

1,260

-15,473

0

0

15,473

Issuance costs associated with debt financing

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-248

0

0

-

-

-

-

-

-

-

-

Capital contributions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

0

-210

48,669

-250

250

0

129,252

Proceeds from exercise of stock options

798

0

62

163

0

152

81

144

133

24

82

39

62

0

67

36

23

117

64

63

28

130

326

584

1,441

829

486

987

1,320

1,339

1,912

-

-

-

-

-

-

-

-

Loss from excess tax deduction from option exercises

-

-

-

-

-

-

-

-

-

-

-54

-

-

-

0

-

-

-

-

142

1

85

1,364

-118

0

0

0

762

784

1,342

1,243

-

-

-

-

-

-

-

-

Repurchase of employee stock units on vesting

11

95

784

26

13

161

398

10

8

300

163

50

10

439

122

0

56

501

708

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on finance leases

27

52

27

-

48

60

62

-

68

55

70

-

45

43

68

-

38

58

52

-

96

84

-24

-

17

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Premium paid on redemption of senior secured notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-15,485

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in financing activities

-22,388

-20,292

1,757

-9,629

-2,578

-6,439

4,545

-25,024

169,571

-5,339

-5,268

-3,935

-3,368

-3,857

-3,498

-8,467

-3,446

975

-4,071

-3,200

-3,442

-3,244

-1,951

-2,833

-1,951

-2,546

-3,247

1,749

1,856

-10,088

-5,706

-4,966

-415

-20,636

3,346

2,287

-145

-2,356

326,530

Effect of exchange rate changes on cash, cash equivalents and restricted cash

-

-

-

-

-

-

-

-

-

-

2,017

1,489

-2,914

-159

68

3,714

-1,502

-3,179

420

-5,141

-2,301

-2,554

1,201

-487

-656

601

-779

-412

235

1,018

-1,090

-209

901

-1,484

121

-

-

-

-

Effect of exchange rate changes on cash, cash equivalents and restricted cash

-

-

397

-

-

-

-1,118

-9,506

-742

-29,452

31,735

862

-34,548

4,012

-12,012

5,469

17,429

-17,691

-14,411

3,486

8,159

4,870

4,619

5,301

13,972

8,003

1,518

15,458

11,979

2,780

-7,838

1,692

6,584

-18,412

-19,662

16,065

19,538

6,755

8,908

Change in cash, cash equivalents and restricted cash

-1,853

3,747

3,953

-

1,735

-2,657

-2,779

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-