Trex co inc (TREX)
CashFlow / TTM
Mar'20Dec'19Sep'19Jun'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

155,585

144,738

134,412

121,907

129,017

134,572

127,700

118,326

104,289

95,128

89,459

77,149

72,090

67,847

63,303

59,260

54,251

48,098

45,165

50,333

46,779

41,521

51,471

27,261

25,324

34,598

15,876

16,862

11,978

2,720

-11,916

1,900

-4,334

-11,588

0

0

0

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

14,488

14,031

13,910

14,091

15,226

16,597

17,959

18,710

17,861

16,860

15,670

14,594

14,433

14,498

14,357

14,479

14,577

14,384

14,675

14,866

15,043

15,204

15,260

15,574

15,888

16,255

16,552

16,646

16,778

17,009

16,286

17,035

17,670

18,170

0

0

0

Debt discount amortization

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,450

8,855

11,343

10,940

10,538

0

0

0

Deferred income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-12,109

-12,698

0

0

0

-

-

-

-

165

0

0

0

Derivatives

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Stock-based compensation

6,912

6,930

7,143

7,617

6,842

6,344

6,319

5,956

5,517

5,187

4,895

4,719

5,477

4,788

4,646

5,089

4,683

4,861

5,156

5,069

5,091

4,807

4,702

4,469

4,086

3,811

3,667

3,573

3,628

3,469

3,339

3,258

3,085

3,146

0

0

0

(Gain) loss on disposal of property, plant and equipment

-152

-285

-87

-86

-79

-47

-68

-366

-1,458

-1,738

-1,724

-1,362

-178

185

0

0

0

-

-

-

-

-158

-169

-319

-617

-587

-587

-2,113

-1,826

-1,909

-2,617

-700

-700

-711

0

0

0

Excess tax benefits from stock compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,147

2,658

2,136

7,426

12,898

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Other non-cash adjustments

217

218

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities:
Accounts receivable

21,897

-12,701

29,472

-53,223

12,820

24,281

17,113

32,894

26,880

10,486

16,640

34,227

14,963

653

-34,590

-28,811

19,332

10,995

35,440

64,413

20,583

-867

21,085

9,227

-844

10,844

-8,800

2,097

13,989

-2,660

18,527

2,072

50,629

-23,931

0

0

0

Inventories

8,560

-1,695

8,471

6,730

7,703

23,276

9,422

6,903

10,000

3,635

7,179

8,186

4,449

5,442

-448

130

2,740

-643

2,316

-2,429

-7,293

1,319

3,461

6,091

15,179

4,907

2,577

1,526

-3,632

-11,376

-24,393

-25,599

-20,941

-125

0

0

0

Prepaid expenses and other assets

1,807

1,652

-4,671

-2,213

-483

613

7,148

8,511

4,380

2,194

1,686

488

375

4,256

-444

141

1,560

-905

519

-561

-346

624

1,075

901

1,145

213

44

108

-235

405

-276

-1,374

-206

19

0

0

0

Accounts payable

-245

-16,666

6,443

2,491

-195

21,131

2,238

5,689

6,090

-4,804

998

-2,435

-3,424

-6,966

826

-2,374

4,282

-2,317

-2,718

472

1,786

5,159

6,192

4,455

-2,035

3,731

-3,031

1,436

1,127

-731

-250

-1,427

-5,324

-3,215

0

0

0

Accrued expenses and other liabilities

2,420

-10,823

-5,841

-5,803

-3,320

5,040

5,545

2,463

-2,545

2,488

1,960

11,624

6,791

9,403

8,933

509

1,893

7,554

-219

-2,384

-4,133

-7,535

-5,292

13,246

13,109

15,173

17,000

10,575

11,731

16,784

27,924

8,813

4,117

-8,385

0

0

0

Income taxes receivable/payable

3,037

-2,375

-1,811

-6,906

-2,032

1,929

-1,534

-2,917

-997

1,795

321

-171

2,062

1,110

5,607

1,074

4,319

1,246

1,469

11,569

12,255

9,973

11,515

11,017

8,046

1,518

2,179

227

141

-102

276

-365

-294

-353

0

0

0

Net cash used in operating activities

157,574

156,352

121,738

182,853

126,239

138,121

124,397

100,072

90,201

101,865

94,551

68,970

82,969

85,293

134,062

106,976

59,558

62,634

25,468

19,284

59,623

58,642

36,868

33,526

29,136

45,208

53,732

47,636

39,879

60,443

53,060

66,525

-2,133

33,847

0

0

0

Investing Activities
Expenditures for property, plant and equipment

81,351

67,265

49,131

35,180

37,028

33,816

25,543

25,612

16,163

15,040

17,125

16,494

16,424

14,551

13,588

14,427

16,712

23,333

22,459

22,135

18,846

12,974

12,883

12,877

14,338

13,060

10,922

9,765

8,319

7,593

6,901

5,493

6,337

7,419

0

0

0

Proceeds from sales of property, plant and equipment

0

-

-

-

-

83

0

0

0

-

-

-

-

4,349

0

0

0

-

-

-

-

66

48

50

146

176

0

0

0

-

-

-

-

-

-

-

-

Acquisition of business, net of cash acquired

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

31

32

31

31

44

0

0

0

-

-

-

-

11

76

84

2,086

2,075

0

0

0

Notes receivable, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

79

168

163

175

187

108

123

120

117

114

120

109

99

0

0

0

Net cash used in investing activities

-79,194

-67,244

-49,110

-35,180

-36,969

-33,733

-25,686

-97,278

-87,888

-86,789

-88,648

-16,494

-16,324

-10,202

-9,238

-10,046

-12,428

-23,329

-22,418

-22,105

-18,788

-12,873

-12,711

-12,708

-14,061

-12,697

-10,638

-9,465

-8,129

-7,484

-6,860

-5,429

-8,286

-9,367

0

0

0

Financing Activities
Restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

37,000

0

0

0

-

-

0

0

Borrowings under line of credit

91,000

89,500

89,500

94,000

114,750

172,250

172,250

205,750

200,500

201,000

201,000

211,700

187,200

242,700

269,200

301,500

290,000

225,500

203,000

141,000

142,000

143,000

139,000

120,000

92,500

74,500

87,500

90,500

124,000

93,700

0

0

0

-

-

0

0

Principal payments under line of credit

0

-

-

-

-

172,250

172,250

197,250

193,000

201,000

201,000

254,700

251,700

249,700

0

0

0

-

-

-

-

143,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments under mortgages and notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,542

0

0

0

Repurchases of common stock

75,017

46,545

47,578

37,027

35,549

30,085

17,723

17,576

9,366

3,617

3,648

3,784

4,492

55,216

56,417

105,169

105,266

53,313

52,378

3,144

53,771

53,189

55,724

81,016

30,714

31,277

30,182

5,891

5,996

5,522

3,809

2,839

2,720

3,092

0

0

0

Proceeds from employee stock purchase and option plans

1,087

1,089

919

1,037

987

882

784

607

485

391

349

331

310

279

276

255

260

315

314

359

790

747

1,295

1,234

1,539

4,032

3,677

3,742

2,986

821

653

603

1,002

1,427

0

0

0

Financing costs

-

-

-

-

-

-

-

-

-

-

-

-

-

485

0

0

0

-

-

-

-

-

-

-

-

119

73

73

94

750

0

0

0

-

-

0

0

Excess tax benefits from stock compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,147

2,658

2,136

7,426

12,898

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net cash (used in) provided by financing activities

-80,948

-45,974

-46,659

-44,490

-84,062

-29,203

-16,939

-8,469

-1,381

-3,226

-3,299

-46,453

-68,682

-62,422

-104,419

-98,526

-45,882

-42,854

-4,359

1,398

-42,008

-39,997

-39,899

-30,829

-13,248

-30,898

-26,011

-73,159

-34,679

-55,326

-93,916

-29,941

3,236

-47,224

0

0

0

Net decrease in cash and cash equivalents

-2,568

43,134

25,969

103,183

5,208

75,185

81,772

-5,675

932

11,850

2,604

6,023

-2,037

12,669

20,405

-1,596

1,248

-3,549

-1,309

-1,423

-1,173

5,772

-15,742

-10,011

1,827

1,613

17,083

-34,988

-2,929

-2,367

-47,716

31,155

-7,183

-22,744

0

0

0

Supplemental Disclosure:
Cash paid for interest

311

321

321

598

611

662

664

439

416

418

419

520

668

852

1,084

1,037

814

625

412

420

480

520

498

388

351

348

369

3,205

3,093

5,792

5,773

5,906

5,877

6,349

0

0

0

Cash paid for income taxes, net

39,755

39,612

41,940

51,991

49,521

48,238

51,956

44,820

44,225

44,802

41,207

34,244

28,684

28,626

25,598

29,967

26,026

26,327

22,741

15,478

12,627

11,919

9,318

7,080

684

672

902

672

663

590

393

591

572

658

0

0

0