Tower international, inc. (TOWR)
CashFlow / Quarterly
Jun'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'11
OPERATING ACTIVITIES:
Net income

5,811

-5,068

-13,356

22,580

22,376

17,300

-3,867

14,931

19,258

17,413

17,373

18,275

-4,752

8,384

145,659

16,872

19,139

14,121

-18,043

12,902

16,950

15,278

20,534

4,216

-45,348

4,534

16,072

-2,382

9,258

2,060

-23,592

-3,766

-1,552

10,755

Less: Income / (loss) from discontinued operations, net of tax

0

-12,740

-30,647

-2,515

4,098

845

6,467

704

-489

1,350

45,575

367

-20,021

-345

8,764

3,246

-1,610

-76

-21,411

4,873

1,677

756

-

-

-

-

46,180

-2,931

3,090

-737

-

-

-

-

Income from continuing operations

5,811

7,672

17,291

25,095

18,278

16,455

-10,334

14,227

19,747

16,063

-28,202

17,908

15,269

8,729

136,895

13,626

20,749

14,197

3,368

8,029

15,273

14,522

-

-

-

-

-30,108

549

7,642

1,323

-

-

-

-

Adjustments required to reconcile income from continuing operations to net cash used in continuing operating activities:
Non-cash restructuring and asset impairment charges, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

221

0

10,051

955

575

0

0

0

-

-

-

-

Term Loan re-pricing fees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

0

-

-

-

-

-

-

-

-

Premium on notes redemption and other fees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

87

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income tax provision

1,313

2,272

-12,668

3,573

3,681

2,080

26,335

5,402

6,010

3,955

-3,704

2,135

5,120

2,996

-130,726

-345

-60

167

-412

-486

409

291

-10,061

270

7

96

-2,434

2,264

10,617

-291

-1,258

0

-2,202

1,333

Depreciation and amortization

16,278

15,425

-7,670

33,958

14,016

14,511

-4,382

18,321

18,766

17,766

-5,522

17,900

18,207

17,276

18,315

18,381

15,938

19,908

12,552

20,951

22,738

22,860

17,905

22,296

23,465

25,172

21,689

23,498

22,404

22,311

13,068

27,807

31,561

30,147

Non-cash share-based compensation

2,130

986

901

903

906

703

562

559

599

499

910

511

505

529

508

512

343

959

1,146

1,157

1,205

1,204

1,083

1,247

1,228

1,185

1,128

1,128

3,013

4,344

3,874

3,802

3,800

3,698

Pension income, net of contributions

1,512

1,381

-3,793

3,408

2,418

2,237

1,606

5,055

2,500

2,351

-5,852

3,384

2,320

2,147

3,849

4,039

2,478

3,750

-1,641

4,855

4,215

3,846

3,777

20,792

-3,887

-3,551

13,381

-8,919

-4,010

-3,020

29,124

-7,017

-2,379

-1,392

Change in working capital and other operating items

29,432

40,574

-20,988

-14,983

3,533

61,934

-80,503

-12,699

4,438

84,356

-80,484

25,107

24,648

17,121

-41,782

1,564

15,781

38,275

-23,536

9,841

31,317

19,925

-62,351

-8,364

15,936

27,097

-49,601

10,689

23,784

10,603

-71,620

26,722

8,398

58,503

Net cash used in continuing operating activities

-5,412

-15,600

22,635

75,104

30,930

-30,422

91,078

46,153

38,184

-48,424

64,818

9,963

12,133

10,262

62,925

26,571

18,711

-6,794

46,389

14,955

4,093

15,193

78,021

37,967

10,508

1,294

58,968

7,831

15,882

14,064

85,888

-5,896

20,830

-13,962

INVESTING ACTIVITIES:
Cash disbursed for purchases of property, plant, and equipment, net

30,212

39,642

-10,624

56,433

25,257

12,075

-9,447

32,526

20,252

23,909

-1,342

12,610

35,230

25,696

63,311

28,205

18,671

9,562

27,462

34,145

19,538

8,663

30,810

17,032

15,605

14,587

7,631

24,114

31,885

28,704

17,904

30,366

25,861

26,698

Proceeds from disposition of European operations, net

-244

277,406

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

2,940

9,100

0

-

-

-

-

-

-

-

-

Investment in joint venture

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

760

0

0

6,293

0

-

-

-

-

-

-

-

-

Net assets acquired, net of cash acquired

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

11,046

11,254

Net cash provided by / (used in) continuing investing activities

-30,456

237,764

10,624

-41,550

-20,943

-12,075

9,447

-32,526

-4,308

-23,909

5,888

-12,610

-35,230

-25,696

-73,258

-39,998

-18,671

-9,562

-27,462

-34,145

-19,538

-9,423

-30,810

-14,092

-12,798

-14,587

-7,631

-24,114

-31,885

-28,704

-17,904

-30,366

-36,907

-37,952

FINANCING ACTIVITIES:
Proceeds from borrowings

0

44,500

-33,393

117,318

19,039

1,339

-50,558

162,073

137,109

236,744

35,690

162,848

149,577

146,327

31,338

30,580

32,908

30,464

24,716

26,715

35,974

34,402

90,592

128,339

174,815

154,198

169,389

128,108

168,416

168,737

150,371

188,847

175,906

139,296

Repayments of borrowings

3,590

48,658

-51,915

137,719

17,566

1,138

-23,476

185,997

143,606

192,426

74,185

145,227

134,239

138,198

-

-

-

-

-

-

-

-

-

-

-

-

-

-

144,347

156,253

-

157,180

168,813

88,756

Repayment on Term Loan Credit Facility

0

50,000

-

-

-

-

-

-

-

-

-

0

0

50,000

-

-37,420

5,575

56,845

-

50,297

38,628

26,763

113,610

159,099

167,270

158,478

-

-

-

-

-

-

-

-

Voluntary repayments on Term Loan Credit Facility

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-25,000

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from borrowings on Term Loan Credit Facility

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

33,145

-

0

417,900

0

-

-

-

-

-

-

-

-

Debt financing costs

0

2,276

-

-

-

-

0

0

664

4,083

-

-

-

-

-

-

-

-

1,034

1,644

0

917

1,441

1,000

8,437

0

-

-

-

-

-

-

-

-

Payments for termination of hedging instruments

0

28,582

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Original issuance discount

-

-

-

-

-

-

0

0

0

1,808

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from termination of cross currency swaps

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

32,377

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Dividend payment to Tower stockholders

2,689

2,680

2,679

2,472

2,472

2,465

2,465

2,258

2,256

2,242

2,236

2,105

2,118

2,111

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Secondary stock offering transaction costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

75

814

0

0

0

-

-

-

-

-

-

-

-

Proceeds from stock options exercised

20

160

0

32

107

112

219

42

114

938

-

-

-

-

44

12

36

112

23

435

1,515

658

159

561

1,506

0

-

-

-

-

-

-

-

-

Purchase of treasury stock

0

861

0

0

0

474

0

1

1

761

1,045

17,912

-1

622

0

2

19

6,530

0

12

21

889

0

7

15

275

0

2

3,082

83

0

5,130

0

0

Retirement of senior secured notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

17,508

0

17,000

Noncontrolling interest dividends and other activity

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

7,660

0

380

2,149

2,581

2,271

4,477

0

-

-

-

-

-

-

-

-

Net cash used in continuing financing activities

-6,259

-88,397

15,843

-72,841

-892

-2,626

-29,328

-26,141

-9,304

36,362

-41,539

-2,353

13,246

-44,604

-10,644

-2,824

2,350

-422

4,602

-24,803

-1,540

37,412

-27,635

-37,855

8,952

-4,555

-57,866

17,680

20,987

12,401

-22,600

9,029

7,093

33,540

Discontinued operations:
Net cash from discontinued operating activities

0

7,142

67,128

-42,823

20,535

29,615

26,967

-396

644

-570

57,403

640

227

2,847

-5,965

14,145

-2,025

9,431

28,742

4,029

2,610

857

-

-

-

0

5,956

-4,107

555

-8,384

-

-

-

-

Net cash used in discontinued investing activities

0

-9,086

-44,816

30,479

-15,171

-18,079

-38,253

-241

-604

-406

-45,568

-203

-1,489

-418

50,762

-6,151

1,682

-4,484

-14,077

-1,757

-821

8,577

-13,962

0

-133

15,827

-56,911

-6,926

-7,739

-7,213

-

-

-

-

Net cash used in discontinued financing activities

0

-1,787

-23,814

14,045

-4,074

-12,613

7,512

217

423

497

-8,448

-264

474

-3,109

-1,711

-6,655

-195

-2,800

-18,196

1,513

-838

-1,481

-

-

-

0

50,413

3,682

-6,156

14,049

-

-

-

-

Net cash from / (used in) discontinued operations

0

-3,731

-1,502

1,701

1,290

-1,077

-3,774

-420

463

-479

3,387

173

-788

-680

43,086

1,339

-538

2,147

-3,531

3,785

951

7,953

7,105

0

-133

15,827

-542

-7,351

-13,340

-1,548

-

-

-

-

Effect of exchange rate changes on continuing cash and cash equivalents

-98

-155

97

-524

-3,875

1,856

-902

1,737

2,236

1,185

-2,429

266

-402

1,942

-1,789

-1,220

702

-3,201

-2,146

-2,584

-65

-697

1,851

2,146

570

-839

2,044

1,488

-2,227

2,822

-355

-4,036

2,458

2,524

NET CHANGE IN CASH AND CASH EQUIVALENTS

-42,225

129,881

47,697

-38,110

6,510

-44,344

66,521

-11,197

27,271

-35,265

30,125

-4,561

-11,041

-58,776

20,320

-16,132

2,554

-17,832

17,852

-42,792

-16,099

50,438

28,532

-11,834

7,099

-2,860

-5,027

-4,466

-10,583

-965

38,284

-31,269

-6,526

-15,850

Supplemental Cash Flow Information:
Interest paid, net of amounts capitalized

6,597

5,946

4,951

5,919

5,029

5,050

3,711

5,025

4,742

7,075

2,866

4,652

4,680

5,019

4,896

4,996

5,027

5,334

385

8,798

6,705

7,091

5,295

10,720

8,083

22,062

2,637

22,821

3,332

22,521

-4,374

26,432

5,774

27,337

Income taxes paid

409

819

-346

2,230

3,022

759

-2,685

1,667

1,174

2,424

-1,312

1,385

998

1,184

3,389

1,424

602

1,130

2,902

5,677

220

390

1,550

1,533

2,918

3,585

-366

-208

2,753

4,193

4,753

2,468

4,395

3,662

Non-cash Investing Activities:
Capital expenditures in liabilities for purchases of property, plant, and equipment

-8,815

17,911

3,369

3,275

-2,278

15,033

-4,131

-4,035

7,135

10,777

-7,153

-6,802

512

19,815

4,663

2,534

5,174

5,525

-6,639

-9,289

9,343

10,531

-11,788

904

1,984

12,702

-3,481

-2,345

-4,675

16,927

633

-1,524

3,450

18,695