Tpi composites, inc (TPIC)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16
Cash flows from operating activities:
Net loss

-492

-861

-4,571

1,828

-12,104

-8,848

9,532

-4,053

8,648

2,207

21,737

9,577

5,213

10,946

2,797

11,555

1,746

Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization

11,028

10,848

9,948

7,125

10,659

7,349

5,878

6,130

7,072

7,555

5,427

4,764

3,952

3,483

3,530

3,162

3,011

Realized loss on sale of assets and asset impairments

-1,918

-7,556

-3,354

-4,972

-2,235

-

-

-

-

-

-

-

-

-

-

-

-

Restructuring charges, net

117

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Share-based compensation expense

2,942

1,077

1,682

1,937

985

824

1,972

2,611

2,388

2,330

1,043

2,044

1,707

-

-

-

-

Amortization of debt issuance costs

56

51

52

52

51

52

24

79

181

143

144

143

143

3,408

443

418

412

Amortization of debt discount

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,509

754

755

Changes in assets and liabilities:
Accounts receivable

-50,328

34,949

2,353

-9,447

-8,489

61,252

46

1,528

-3,626

-12,211

17,078

20,638

28,722

-32,801

12,594

524

14,119

Contract assets and liabilities

32,574

1,631

9,231

30,822

15,899

-5,568

-13,229

3,985

22,710

12,027

-4,127

3,371

-6,848

-

-

-

-

Operating lease right of use assets and operating lease liabilities

-2,018

-3,442

2,612

-1,954

-4,169

-

-

-

-

-

-

-

-

-

-

-

-

Inventories

3,515

-4,899

1,942

3,683

419

-1,804

2,008

1,388

93

-1,299

1,187

-920

68

-5,413

4,224

-2,906

5,274

Prepaid expenses

4,558

-9,367

3,646

2,602

4,171

-

-

-

-

-

-

-

-

-

-

-

-

Other current assets

-4,552

3,396

-4,105

1,355

13,046

-

-

-

-

-

-

-

-

-

-

-

-

Prepaid expenses and other current assets

-

-

-

-

-

-

-

-

8,211

-

4,288

1,647

-6,816

4,241

-14,536

1,268

8,346

Other noncurrent assets

17,445

1,999

-13,241

4,367

14,052

664

456

4,781

-734

-10,431

5,673

1,786

156

-3,210

4,373

-432

2,959

Accounts payable and accrued expenses

-17,557

-1,701

47,080

17,559

17,782

30,305

18

-1,301

3,241

3,391

13,377

22,778

11,928

11,085

6,143

-6,605

6,801

Accrued warranty

3,889

-643

5,448

3,301

2,768

4,061

-1,275

1,310

2,250

1,195

2,569

3,486

2,080

-10,752

484

2,638

14,339

Customer deposits

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,131

-2,803

2,542

Deferred revenue

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-3,707

629

-493

Other noncurrent liabilities

1,861

432

551

1,353

462

536

-2,367

-19

-158

-4,461

5

-338

197

-2,094

9

20

446

Net cash provided by (used in) operating activities

2,568

-5,651

64,253

10,573

-12,091

-20,453

14,660

5,567

-3,032

31,140

17,590

15,932

9,938

31,866

17,801

11,314

-1,139

Purchases of property, plant and equipment

26,983

15,316

21,353

19,030

18,709

2,052

8,326

30,596

11,714

9,516

8,585

9,805

16,922

11,590

4,673

3,356

10,888

Net cash used in investing activities

-26,983

-15,316

-22,455

-19,030

-18,709

-2,052

-8,326

-30,596

-11,714

-8,666

-8,585

-9,805

-16,922

-11,590

-4,673

-3,356

-10,888

Proceeds from revolving loans

50,000

6,000

10,000

0

6,000

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of revolving and term loans

-

-

-

-

-

0

149,944

-74,034

-938

6,562

-937

-937

-938

-

-

-

-

Net proceeds (repayments) of accounts receivable financing

-101

-5,304

-10,477

-8,146

13,208

4,339

-15,839

3,831

8,093

-9,216

3,014

6,415

-1,233

665

2,515

-15,365

6,800

Proceeds from working capital loans

-

0

626

681

2,228

-

-

-

-

3,316

0

6,103

517

-

-

-

-4,958

Principal repayments of finance leases

1,492

1,507

2,150

2,542

2,929

-

-

-

-

-

-

-

-

-

-

-

-

Net proceeds (repayments) of other debt

16,505

-367

-1,708

-766

-1,445

-9,589

-8,725

-2,471

-2,978

-3,243

-1,697

7,408

-1,155

-1,350

-751

-1,472

-1,192

Proceeds from customer advances

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

2,000

Debt issuance costs

183

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from exercise of stock options

812

497

10

144

4,572

2,073

904

722

585

-

-

-

-

-

-

-

-

Repurchase of common stock including shares withheld in lieu of income taxes

459

0

1,561

0

559

0

2,587

0

272

-

-

-

-

-

-

-

-

Restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1

-1

-647

Net cash provided by financing activities

65,082

-1,388

-8,088

-10,629

21,075

-3,177

-11,247

2,202

4,490

-13,409

104

7,731

-2,809

-542

63,012

-12,644

2,003

Impact of foreign exchange rates on cash, cash equivalents and restricted cash

-1,806

-56

-811

-297

993

900

170

-839

386

30

141

227

-63

-970

-395

-99

-51

Net change in cash, cash equivalents and restricted cash

38,861

-22,411

32,899

-19,383

-8,732

-24,782

-4,743

-23,666

-9,870

9,095

9,250

14,085

-9,856

18,764

75,745

-4,785

-10,075

Supplemental disclosures of cash flow information:
Cash paid for interest

1,773

1,793

2,161

2,296

1,940

1,358

2,939

2,480

3,127

3,086

2,851

2,967

2,899

1,621

4,641

2,299

2,565

Cash paid for income taxes, net

3,414

3,607

5,334

4,918

4,781

2,967

1,854

991

1,434

3,129

4,152

5,836

4,146

3,315

1,003

2,762

1,426

Supplemental disclosures of noncash investing and financing activities:
Accrued capital expenditures in accounts payable

14,669

8,050

-96

281

6,409

799

670

-755

4,425

2,036

-1,313

2,433

2,569

-946

1,412

1,438

760