Tower international, inc. (TOWR)
CashFlow / TTM
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

9,967

26,532

48,900

58,389

50,740

47,622

47,735

68,975

72,319

48,309

39,280

167,566

166,163

190,054

195,791

32,089

28,119

25,930

27,087

65,664

56,978

-5,320

-16,064

-20,526

-27,124

27,482

25,008

-14,656

-16,040

-26,850

-18,155

0

0

0

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

-45,902

-41,804

-28,219

8,895

12,114

7,527

8,032

47,140

46,803

27,271

25,576

-11,235

-8,356

10,055

10,324

-19,851

-18,224

-14,937

-14,105

0

0

0

-

-

-

-

45,602

0

0

0

-

-

-

-

Income from continuing operations

55,869

68,336

77,119

49,494

38,626

40,095

39,703

21,835

25,516

21,038

13,704

178,801

174,519

179,999

185,467

51,940

46,343

40,867

41,192

0

0

0

-

-

-

-

-20,594

0

0

0

-

-

-

-

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

11,227

11,581

11,581

1,530

575

0

0

0

-

-

-

-

Term Loan re-pricing fees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

0

-

-

-

-

-

-

-

-

Premium on notes redemption and other fees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income tax provision

-5,510

-3,142

-3,334

35,669

37,498

39,827

41,702

11,663

8,396

7,506

6,547

-120,475

-122,955

-128,135

-130,964

-650

-791

-322

-198

-9,847

-9,091

-9,493

-9,688

-2,061

-67

10,543

10,156

11,332

9,068

-3,751

-2,127

0

0

0

Depreciation and amortization

57,991

55,729

54,815

58,103

42,466

47,216

50,471

49,331

48,910

48,351

47,861

71,698

72,179

69,910

72,542

66,779

69,349

76,149

79,101

84,454

85,799

86,526

88,838

92,622

93,824

92,763

89,902

81,281

85,590

94,747

102,583

0

0

0

Non-cash share-based compensation

4,920

3,696

3,413

3,074

2,730

2,423

2,219

2,567

2,519

2,425

2,455

2,053

2,054

1,892

2,322

2,960

3,605

4,467

4,712

4,649

4,739

4,762

4,743

4,788

4,669

6,454

9,613

12,359

15,033

15,820

15,174

0

0

0

Pension income, net of contributions

2,508

3,414

4,270

9,669

11,316

11,398

11,512

4,054

2,383

2,203

1,999

11,700

12,355

12,513

14,116

8,626

9,442

11,179

11,275

16,693

32,630

24,528

17,131

26,735

-2,976

-3,099

-2,568

13,175

15,077

16,708

18,336

0

0

0

Change in working capital and other operating items

34,035

8,136

29,496

-30,019

-27,735

-26,830

-4,408

-4,389

33,417

53,627

-13,608

25,094

1,551

-7,316

13,838

32,084

40,361

55,897

37,547

-1,268

-19,473

-34,854

-27,682

-14,932

4,121

11,969

-4,525

-26,544

-10,511

-25,897

22,003

0

0

0

Net cash used in continuing operating activities

76,727

113,069

98,247

166,690

137,739

144,993

126,991

100,731

64,541

38,490

97,176

95,283

111,891

118,469

101,413

84,877

73,261

58,643

80,630

112,262

135,274

141,689

127,790

108,737

78,601

83,975

96,745

123,665

109,938

114,886

86,860

0

0

0

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

115,663

110,708

83,141

84,318

60,411

55,406

67,240

75,345

55,429

70,407

72,194

136,847

152,442

135,883

119,749

83,900

89,840

90,707

89,808

93,156

76,043

72,110

78,034

54,855

61,937

78,217

92,334

102,607

108,859

102,835

100,829

0

0

0

Proceeds from disposition of European operations, net

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

12,040

0

0

0

-

-

-

-

-

-

-

-

Investment in joint venture

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

760

760

7,053

6,293

0

0

0

-

-

-

-

-

-

-

-

Net assets acquired, net of cash acquired

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

22,300

0

0

0

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

176,382

185,895

-63,944

-65,121

-56,097

-39,462

-51,296

-54,855

-34,939

-65,861

-67,648

-146,794

-174,182

-157,623

-141,489

-95,693

-89,840

-90,707

-90,568

-93,916

-73,863

-67,123

-72,287

-49,108

-59,130

-78,217

-92,334

-102,607

-108,859

-113,881

-123,129

0

0

0

FINANCING ACTIVITIES:
Proceeds from borrowings

128,425

147,464

104,303

87,138

131,893

249,963

485,368

571,616

572,391

584,859

494,442

490,090

357,822

241,153

125,290

118,668

114,803

117,869

121,807

187,683

289,307

428,148

547,944

626,741

626,510

620,111

634,650

615,632

676,371

683,861

654,420

0

0

0

Repayments of borrowings

138,052

152,028

104,508

132,947

181,225

307,265

498,553

596,214

555,444

546,077

491,849

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

0

0

0

Repayment on Term Loan Credit Facility

0

0

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

229,298

338,100

466,742

598,457

0

0

0

-

-

-

-

-

-

-

-

Voluntary repayments on Term Loan Credit Facility

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from borrowings on Term Loan Credit Facility

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

0

0

-

-

-

-

-

-

-

-

Debt financing costs

0

0

-

-

-

-

4,747

0

0

0

-

-

-

-

-

-

-

-

3,595

4,002

3,358

11,795

10,878

0

0

0

-

-

-

-

-

-

-

-

Payments for termination of hedging instruments

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Original issuance discount

-

-

-

-

-

-

1,808

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from termination of cross currency swaps

-

-

-

-

-

-

-

-

-

-

-

-

-

-

32,377

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Dividend payment to Tower stockholders

10,520

10,303

10,088

9,874

9,660

9,444

9,221

8,992

8,839

8,701

8,570

0

0

0

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Secondary stock offering transaction costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

75

889

889

889

814

0

0

0

-

-

-

-

-

-

-

-

Proceeds from stock options exercised

212

299

251

470

480

487

1,313

0

0

0

-

-

-

-

204

183

606

2,085

2,631

2,767

2,893

2,884

2,226

0

0

0

-

-

-

-

-

-

-

-

Purchase of treasury stock

861

861

474

474

475

476

763

1,808

19,719

19,717

19,578

18,533

623

643

6,551

6,551

6,561

6,563

922

922

917

911

297

297

292

3,359

3,167

3,167

8,295

5,213

5,130

0

0

0

Retirement of senior secured notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Noncontrolling interest dividends and other activity

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

8,040

10,189

5,110

7,381

11,478

9,329

0

0

0

-

-

-

-

-

-

-

-

Net cash used in continuing financing activities

-151,654

-146,287

-60,516

-105,687

-58,987

-67,399

-28,411

-40,622

-16,834

5,716

-75,250

-44,355

-44,826

-55,722

-11,540

3,706

-18,273

-22,163

15,671

-16,566

-29,618

-19,126

-61,093

-91,324

-35,789

-23,754

-6,798

28,468

19,817

5,923

27,062

0

0

0

Discontinued operations:
Net cash from discontinued operating activities

31,447

51,982

74,455

34,294

76,721

56,830

26,645

57,081

58,117

57,700

61,117

-2,251

11,254

9,002

15,586

50,293

40,177

44,812

36,238

0

0

0

-

-

-

2,404

-5,980

0

0

0

-

-

-

-

Net cash used in discontinued investing activities

-23,423

-38,594

-47,587

-41,024

-71,744

-57,177

-39,504

-46,819

-46,781

-47,666

-47,678

48,652

42,704

45,875

41,809

-23,030

-18,636

-21,139

-8,078

-7,963

-6,206

-5,518

1,732

-41,217

-48,143

-55,749

-78,789

0

0

0

-

-

-

-

Net cash used in discontinued financing activities

-11,556

-15,630

-26,456

4,870

-8,958

-4,461

8,649

-7,311

-7,792

-7,741

-11,347

-4,610

-11,001

-11,670

-11,361

-27,846

-19,678

-20,321

-19,002

0

0

0

-

-

-

47,939

61,988

0

0

0

-

-

-

-

Net cash from / (used in) discontinued operations

-3,532

-2,242

412

-1,860

-3,981

-4,808

-4,210

2,951

3,544

2,293

2,092

41,791

42,957

43,207

46,034

-583

1,863

3,352

9,158

19,794

16,009

14,925

22,799

15,152

7,801

-5,406

-22,781

0

0

0

-

-

-

-

Effect of exchange rate changes on continuing cash and cash equivalents

-680

-4,457

-2,446

-3,445

-1,184

4,927

4,256

2,729

1,258

-1,380

-623

17

-1,469

-365

-5,508

-5,865

-7,229

-7,996

-5,492

-1,495

3,235

3,870

3,728

3,921

3,263

466

4,127

1,728

-3,796

889

591

0

0

0

NET CHANGE IN CASH AND CASH EQUIVALENTS

97,243

145,978

-28,247

-9,423

17,490

38,251

47,330

10,934

17,570

-20,742

-44,253

-54,058

-65,629

-52,034

-11,090

-13,558

-40,218

-58,871

9,399

20,079

51,037

74,235

20,937

-12,622

-5,254

-22,936

-21,041

22,270

-4,533

-476

-15,361

0

0

0

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

23,413

21,845

20,949

19,709

18,815

18,528

20,553

19,708

19,335

19,273

17,217

19,247

19,591

19,938

20,253

15,742

19,544

21,222

22,979

27,889

29,811

31,189

46,160

43,502

55,603

50,852

51,311

44,300

47,911

50,353

55,169

0

0

0

Income taxes paid

3,112

5,725

5,665

3,326

2,763

915

2,580

3,953

3,671

3,495

2,255

6,956

6,995

6,599

6,545

6,058

10,311

9,929

9,189

7,837

3,693

6,391

9,586

7,670

5,929

5,764

6,372

11,491

14,167

15,809

15,278

0

0

0

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

15,740

22,277

19,399

11,899

4,589

14,002

9,746

6,724

3,957

-2,666

6,372

18,188

27,524

32,186

17,896

6,594

-5,229

-1,060

3,946

-1,203

8,990

1,631

3,802

12,109

8,860

2,201

6,426

10,540

11,361

19,486

21,254

0

0

0