Turning Point Brands, Inc. TPB Cash Flow

Turning point brands, inc. (TPB)

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
Cash flows from operating activities:
Net income
3,275	-12,265	6,274	13,205	6,560	4,984	7,954	9,319	3,032	3,519	7,374	6,883	1,877	17,087	6,793	799	2,234	2,373	4,770	-1,421	3,427
Adjustments to reconcile net income to net cash provided by operating activities:
Loss on extinguishment of debt
-	-	-	-	-	0	0	0	-2,384	0	0	0	-6,116	0	0	-2,824	0	-	-	-	-
Loss on sale of property, plant, and equipment
0	-19	34	1	-23	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation expense
851	783	692	632	531	509	479	557	560	434	421	417	354	331	310	293	293	275	265	268	251
Amortization of other intangible assets
425	372	356	364	359	448	206	175	176	175	176	176	175	58	0	0	0	-	-	-	-
Amortization of debt discount and deferred financing costs
2,237	3,347	540	241	237	239	238	236	238	303	238	236	294	349	351	357	362	362	362	362	362
Amortization of original issue discount
-	-	-	-	-	-	-	-	-	-	0	0	66	133	132	200	259	263	261	263	261
Interest incurred but not paid on notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,254	-	-	-	1,945
Deferred income taxes
545	-4,215	105	-80	-29	-241	1,363	650	793	3,334	1,476	2,935	-2,564	-12,766	-3	9	41	58	2	26	-35
Stock compensation expense
455	1,149	1,068	946	466	355	365	494	197	222	226	227	45	35	99	24	22	105	37	46	46
Amount of amortization expense attributable to right-of-use asset from operating lease.
13	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Member unit compensation expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	25	28	29
Changes in operating assets and liabilities:
Accounts receivable
-2,596	-92	-107	1,937	1,726	-4,016	752	3,405	-965	288	158	-1,180	1,801	-1,526	-1,815	2,560	-1,291	-1,161	1,558	-921	1,931
Inventories
-1,784	-27,740	3,358	3,712	-366	1,810	8,492	15,585	-5,237	-1,465	-3,065	5,334	-1,299	5,108	-12	3,780	3,637	-2,273	-3,721	2,220	1,742
Other current assets
2,420	395	-2,733	6,518	-2,984	-874	1,508	2,412	2,051	888	-1,771	-2,032	1,420	201	-619	512	-1,455	-2,101	-2,763	6,564	-1,749
Other assets
130	2,970	-465	-68	427	69	105	-272	23	229	33	98	-26	55	-17	478	-416	12	19	75	12
Accounts payable
3,210	5,539	-11,858	4,698	8,229	-1,919	-5,605	7,092	2,955	-3,410	-1,663	968	-1,597	4,162	-1,765	510	724	275	-846	1,196	1,159
Accrued pension liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	65	67	64	40	41	40	42
Accrued postretirement liabilities
-27	-43	-42	-74	-9	10	-36	-57	-14	-6	-15	-35	32	-83	-30	-31	-28	-85	-31	-32	-31
Accrued liabilities and other
1,913	4,886	109	-309	-3,539	4,720	902	209	-6,029	4,601	1,147	-898	-5,242	3,902	221	585	-4,773	102	2,193	-3,578	1,322
Net cash provided by operating activities
14,727	17,782	-1,685	7,673	14,025	12,116	-4,991	-2,455	8,420	9,299	14,025	8,706	-2,340	9,604	8,636	-10,089	977	11,805	14,080	-8,297	6,842
Capital expenditures
877	755	2,096	1,078	886	739	525	640	363	969	485	199	368	1,962	386	405	454	502	459	314	327
The net cash inflow or outflow during the period for the aggregate increase (decrease) associated with funds and investments associated with the Master Settlement Agreement (MSA) that are not available for withdrawal or use (such as assets held in escrow or contractually limited as to use or disposition) and are associated with underlying transactions that are classified as investing activities. The MSA was entered into in November 1998 by most states (represented by their attorneys general acting through t
0	-5	-28,036	25	-1,702	-993	499	1,205	530	-	-	-	-	-	-	-	-	-	-	-	-
Restricted cash, MSA escrow deposits
-	-	-	-	-	-	-	-	-	-	692	180	-1,192	-	-	-	-	-	-	-	-
Net cash provided by (used in) investing activities
-877	-745	16,933	-1,103	816	-2,721	-7,913	-13,142	-893	-652	-1,177	-111	824	-54,643	-386	-405	-454	-502	-459	-742	-327
Cash flows from financing activities:
Payments of term loan
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	412
Proceeds from 2018 revolving credit facility
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-
Payments of 2018 revolving credit facility
0	0	15,000	-1,000	12,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Payment of dividends
886	885	884	882	880	781	769	768	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from (payments of) 2017 revolving credit facility, net
-	-	-	-	-	-	-	-	-8,000	-	-	-	-	-	-	5,603	1,000	-4,151	-3,397	120	93
Payments of financing costs
168	120	6,818	179	0	0	7	0	3,279	0	18	-27	4,792	250	0	200	0	-	-	-	-
Exercise of options
227	99	29	423	187	54	172	587	20	60	274	418	679	161	0	8	0	-	-	-	-
The cash outflow associated with the redemption of stock options during the period.
0	0	0	0	12	0	623	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Prepaid equity issuance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-268	268	-	-	-	0
The cash outflow associated with the surrender of expiring stock options during the period.
-	-	-	-	-	-	-	-	-	-	0	0	1,000	0	0	0	0	-	-	-	-
Common stock repurchased
2,627	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1	0	0	1
Net cash used in financing activities
-9,694	-2,906	91,785	-6,208	-14,705	-6,727	10,603	12,926	-6,872	-9,779	-10,991	-9,337	2,091	14,438	-7,452	11,166	-2,418	-16,307	-9,114	-293	-318
Net increase in cash
4,156	14,131	107,033	362	136	2,668	-2,301	-2,671	655	-1,132	1,857	-742	575	-30,601	798	672	-1,895	-5,004	4,507	-9,332	6,197
Supplemental Schedule of Noncash Financing Activities [Abstract]
The amount of accrued expenses incurred for financing costs during the period.
13	-	123	0	0	-	-43	-111	154	-	-	-178	226	-	-	-	0	-	-	-	-
Accrued expenses incurred for prepaid equity issuance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	339	84	-	-	-	0
The first lien term loan is part of the First Lien Credit Facility with Fifth Third Bank, as administrative agent, and other lenders (the "2018 First Lien Credit Facility"). The 2018 First Lien Credit Facility is part of a secured credit facility (the "2018 Credit Facility") entered into on March 7, 2018 by the Company.
Proceeds from term loan
-	-	-	-	-	4,000	-2,000	-2,000	160,000	-	-	-	-	-	-	-	-	-	-	-	-
Payments of term loan
2,000	2,000	2,000	2,000	2,000	6,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Payments of financing costs
200	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
The second lien term loan (the "2018 Second Lien Term Loan") is part of the Second Lien Credit Facility with Prospect Capital Corporation, as administrative agent, and other lenders (the "2018 Second Lien Credit Facility"). The 2018 Second Lien Credit Facility is part of a secured credit facility (the "2018 Credit Facility") entered into on March 7, 2018 by the Company and North Atlantic Trading Company, Inc. (NATC), a wholly-owned subsidiary of the Company.
Proceeds from term loan
-	-	-	-	-	0	0	0	40,000	-	-	-	-	-	-	-	-	-	-	-	-
On September 5, 2018, the Company issued a note payable to IVG's shareholders in connection with the acquisition of the outstanding stock of IVG.
Payments of term loan
4,240	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
The first out term loan facility (the "2017 First Out Term Loan") and the second out term loan facility (the "2017 Second Out Term Loan"), collectively the 2017 First Lien Term Loans, are part of the First Lien Credit Facility with Fifth Third Bank, as administrative agent, and other lenders (the "2017 First Lien Credit Facility"). The 2017 First Lien Credit Facility is part of a secured credit facility (the "2017 Credit Facility") entered into on February 17, 2017 by the Company and North Atlantic Trading
Payments of term loan
-	-	-	-	-	0	0	0	140,613	-	-	-	-	-	-	-	-	-	-	-	-
The second lien term loan (the "2017 Second Lien Term Loan") is part of the Second Lien Credit Facility with Prospect Capital Corporation, as administrative agent, and other lenders (the "2017 Second Lien Credit Facility"). The 2017 Second Lien Credit Facility is part of a secured credit facility (the "2017 Credit Facility") entered into on February 17, 2017 by the Company and North Atlantic Trading Company, Inc. (NATC), a wholly-owned subsidiary of the Company.
Payments of term loan
-	-	-	-	-	0	0	0	55,000	-	-	-	-	-	-	-	-	-	-	-	-