Trecora resources (TREC)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
OPERATING ACTIVITIES
NET INCOME

-14,974

-2,332

18,009

19,428

18,598

15,571

19,498

10,321

13,884

2,075

6,627

Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent

-2,090

-604

-3,503

-

-

-

-

-

-

-

-

Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent

-12,884

-1,728

21,512

-

-

-

-

-

-

-

-

Adjustments to Reconcile Income from Continuing Operations To Net Cash Provided by Operating Activities:
Depreciation and Amortization

14,345

12,497

9,100

7,896

7,177

5,205

4,039

3,573

3,220

2,613

2,689

Amortization of Intangible Assets

1,856

1,861

1,861

1,880

1,883

471

0

0

250

0

0

Amortization of catalyst

-

-

-

-

0

-

-

-

-

-

-

Accretion of Notes Receivable Discounts

-

-

-

-

-

-

-

-

1

16

53

Unrealized Gain on Derivative Instruments

0

0

58

119

381

-376

-57

-246

215

177

6,976

Share-based Compensation

1,300

1,800

2,707

2,552

2,353

2,141

1,215

515

872

808

280

Deferred Income Taxes

-2,993

-1,377

-4,946

8,697

5,567

-1,903

1,495

889

3,238

685

8,977

Postretirement Obligation

-38

-825

-11

271

7

8

5

8

11

0

23

Bargain purchase gain from acquisition

-

-

-

11,549

0

0

-

-

-

-

-

Income (Loss) from Equity Method Investments

-

-

-

-1,479

-5,325

-1,072

4,703

-211

-1,018

-874

0

Gain from additional equity issuance by AMAK

-

-

-

3,168

0

-

-

-

-

-

-

Gain from Additional Equity Issuance by AMAK

-

-

-

-

-

0

-

-

-

-

-

Bad Debt Expense (Recoveries)

-23

152

0

90

0

0

-

-

55

29

111

Amortization of Loan Fees

181

261

247

272

272

68

-

-

-

-

-

Loss on Extinguishment of Debt

0

-315

0

0

-

-

-

-

-

-

-

Loss on Disposal of Assets

-680

0

0

-

-

-

-

-

-

-

-

Impairment of Goodwill and Certain Intangibles

24,152

0

0

-

-

-

-

-

-

-

-

Gain from Additional Equity Issuance by AMAK

-

-

-

-

-

-

3,997

0

8,850

0

-

Changes in Operating Assets and Liabilities:
Decrease (Increase) in Trade Receivables

-816

1,485

3,586

2,809

-8,797

3,380

6,267

-7,396

12,041

-1,062

510

Decrease in Insurance Receivables

1,148

0

0

-

-

-

-

-

-

-

-

(Increase) Decrease in Notes Receivable

-

-

-

-

-

-

-

-

-35

-389

-582

Increase in Taxes Receivable

0

-5,401

1,601

-3,689

7,238

-137

-611

1,182

-216

-4,510

4,297

Decrease (Increase) in Inventories

-2,914

-1,911

579

2,067

2,989

-2,587

2,223

384

3,539

852

2,618

Increase in Prepaid Derivative Settlement

-

-

-

-

-

-

-

-

-

-

-3,950

Decrease (Increase) in Prepaid Expenses and Other Assets

-844

1,222

806

1,022

-937

337

90

693

-110

-69

-59

Decrease in Accounts Payable and Accrued Liabilities

-4,944

2,202

6,976

3,168

-2,399

1,836

1,421

173

4,246

-504

-2,146

(Increase) decrease in other assets

-

-

-

-

-

1,092

871

56

-

-

-

Increase (Decrease) in Accrued Interest

-

-

-

-

-

-

-

-

-5

-28

1

Decrease in Other Liabilities

581

33

142

-174

2,151

90

3,048

353

1,628

0

773

Decrease in accrued liabilities in Saudi Arabia

-

-

-

-

-495

-

-

-

-

-

-

Increase (decrease) in accrued liabilities in Saudi Arabia

-

-

-

-

-

355

4

3

-76

-207

-957

Net Cash Provided by Operating Activities - Continuing Operations

25,589

19,749

30,958

-

-

23,205

13,242

21,373

-

-

-

Net Cash Used in Operating Activities - Discontinued Operations

-468

146

-130

-

-

-

-

-

-

-

-

Net Cash Provided by Operating Activities

25,121

19,895

30,828

28,514

39,565

-

-

-

4,056

11,330

6,514

INVESTING ACTIVITIES
Additions to Plant, Pipeline and Equipment

10,079

25,285

51,584

38,484

31,247

14,766

6,828

8,143

6,518

2,899

3,184

Proceeds from PEVM

27

0

0

-

-

-

-

-

-

-

-

Acquisition of TC, Inc., net of cash of $107 purchased in 2014

-

-

-

-

47

74,712

0

0

-

250

0

Acquisition of B Plant

-

-

-

2,011

0

0

-

-

-

-

-

Proceeds from AMAK share repurchase (Note 10)

-

-

-

0

-

-

-

-

-

-

-

Advances to AMAK, net

-

-

-

14

-

-

-

-

-

-

-

Advances to AMAK, net

-

-

-

-

-

536

-

-

-

-

-

Proceeds from PEVM

-

-

-

-

0

-

-1,626

2,042

120

0

-

Addition to Investment in AMAK

-

-

-

-

-

-

7,500

0

0

-

0

Net Cash Used in Investing Activities - Continuing Operations

-10,052

-25,285

-51,584

-

-

-88,942

-12,702

-10,185

-

-

-

Net Cash Provided by Investing Activities - Discontinued Operations

4,021

5,414

-107

-

-

-

-

-

-

-

-

Net Cash Provided by (Used in) Investing Activities

-6,031

-19,871

-51,691

-40,509

-31,294

-

-

-

-6,638

-3,149

-3,184

FINANCING ACTIVITIES
Issuance of Common Stock

0

0

25

11

46

91

60

146

108

0

0

Net Cash Paid Related to Stock-Based Compensation

-305

860

-106

0

-

-

-

-

-

-

-

Payments Related to Tax Withholding for Stock-based Compensation

-

-

-

-

0

-

-

-

-

-

-

Additions to Long-Term Debt

2,000

18,177

26,000

8,000

15,000

87,200

6,000

2,000

6,000

1,397

2,530

Repayments of Long-Term Debt

21,375

15,354

10,417

6,250

13,200

20,656

8,500

10,500

4,462

4,420

6,169

Net Cash Provided by (Used in) Financing Activities

-

-

-

-

-

66,635

-2,440

-8,354

-

-

-

Net Cash Provided by Financing Activities - Continuing Operations

-19,680

3,683

15,502

1,761

1,846

-

-

-

1,646

-3,023

-3,638

NET INCREASE IN CASH

-590

3,707

-5,361

-

-

-

-

-

-

-

-

Net increase (decrease) in cash and cash equivalents

-

-

-

-10,234

10,117

898

-1,900

2,834

-936

5,158

-307

Supplemental disclosure of cash flow information:
Cash payments for interest

4,731

4,560

3,540

2,545

2,103

-

-

-

-

-

-

Cash payments for interest

-

-

-

-

-

995

802

-912

-1,071

-1,161

-1,334

Cash payments for taxes, net of refunds

53

-4,182

92

-1,630

11,428

8,959

6,006

-6,650

-3,045

3,547

278

Supplemental disclosure of non-cash items:
Capital expansion amortized to depreciation expense

800

787

840

1,047

972

1,649

1,284

1,102

210

551

621

Estimated earnout liability (Note 3)

-

-

-

733

0

0

-

-

-

-

-

Stock exchange (Notes 10 & 18)

0

131

0

0

-

-

-

-

-

-

-

Unrealized gain on interest rate swap, net of tax expense

-

-

-

-

-

366

214

168

-12

105

-

Unrealized loss/(gain) on interest rate swap, net of tax benefit/expense

-

-

-

-

-

-

-

-

-

-

278

Net assets acquired in purchase of STTC Transportation Company

-

-

-

-

-

-

-

-

-

1,025

0