TETRA TECH, INC. TTEK Cash Flow

Tetra tech, inc. (TTEK)

CashFlow / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jul'18	Apr'18	Dec'17	Oct'17	Jun'17	Mar'17	Dec'16	Oct'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Dec'09
Net income
144,515	164,046	158,761	176,040	160,134	132,937	136,957	142,630	139,260	137,380	117,917	114,615	110,331	87,202	83,853	20,988	21,550	36,822	39,228	93,638	94,095	106,994	108,675	111,287	6,462	-575	-1,506	3,693	110,976	108,425	104,732	101,591	97,171	92,931	92,982	88,724	84,616	80,864	76,819	0	0	0
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
26,922	26,805	28,844	29,337	33,055	36,927	38,636	41,971	42,834	44,548	45,756	46,130	47,412	46,974	45,588	43,736	41,663	41,014	44,201	46,693	49,074	51,618	54,540	57,604	62,697	65,924	62,605	61,847	57,153	54,291	56,902	56,325	57,379	57,337	55,684	50,940	44,910	39,147	33,491	0	0	0
Equity in income of unconsolidated joint ventures
1,972	1,119	25	1,331	1,392	1,431	568	-2,954	-1,280	-665	647	803	449	-316	-1,144	3,591	4,185	4,683	5,131	3,972	3,154	2,804	2,804	2,895	3,024	3,462	3,461	3,042	3,292	2,596	2,916	3,806	4,002	4,898	4,877	3,723	2,980	1,900	1,184	0	0	0
Distributions of earnings from unconsolidated joint ventures
0	0	-	-	0	0	-	-	-	-	-	0	0	3,705	-	4,512	4,892	4,647	5,252	3,624	3,354	3,170	2,724	3,735	3,973	3,875	4,458	3,250	3,148	3,062	3,194	3,732	3,894	4,995	4,802	4,159	2,546	1,359	1,689	0	0	0
Amortization of stock-based awards
18,460	17,570	17,618	16,780	19,472	20,142	19,582	18,932	15,545	14,203	13,450	13,702	13,427	13,389	12,964	12,132	11,682	10,878	10,926	10,138	10,228	10,875	10,374	9,476	9,472	8,580	8,775	10,274	10,031	10,457	10,839	10,968	10,916	10,724	10,582	10,306	10,139	10,252	10,178	0	0	0
Excess tax benefits from stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	918	578	218	148	172	382	392	833	904	703	697	709	886	1,216	1,343	979	624	283	161	55	104	103	101	137	754	0	0	0
Deferred income taxes
-8,370	-34,018	-37,615	-47,240	-45,352	-20,684	-29,360	-46,109	-39,908	-22,252	-9,957	26,624	18,793	7,318	6,051	25,551	14,061	4,494	8,412	-12,011	3,973	4,144	-145	17,577	-19,006	-16,535	-11,468	-28,621	1,901	-382	-5,512	3,359	3,632	-2,104	1,720	-5,665	-4,962	8,025	11,641	0	0	0
Provision for doubtful accounts
12,646	17,012	16,964	17,815	14,655	7,716	7,167	10,579	7,265	6,499	2,847	-3,297	-1,993	-65	8,082	10,320	8,424	7,135	-1,034	-783	-3,578	-2,752	1,467	2,077	15,288	14,349	13,818	14,778	3,211	4,427	4,768	3,291	6,100	7,704	3,733	3,631	3,779	6,413	7,179	0	0	0
Fair value adjustments to contingent consideration
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2,823	0	0	0	-	-	-	-	58,694	35,776	34,587	14,200	9,560	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of property and equipment
3,532	1,025	232	1,171	-2,027	-1,352	-1,045	-2,204	1,042	396	103	129	444	479	537	1,496	198	6,139	6,014	5,303	6,834	1,028	-58	79	-667	-658	287	-206	-23	-365	-191	78	152	214	231	893	861	1,634	1,480	0	0	0
Foreign exchange (gain) loss
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	0	-	-	-	-1,346	-1,288	376	382	171	205	0	0	0
Changes in operating assets and liabilities, net of effects of business acquisitions:
Accounts receivable and contract assets
-41,100	-16,165	10,226	28,859	-44,680	-4,266	46,273	114,009	110,324	58,830	64,781	19,530	24,205	63,315	-9,062	18,658	-38,954	-35,143	-40,345	-55,256	281	15,640	32,020	39,486	-17,734	-81,091	-87,367	-111,764	-24,185	3,778	39,960	3,780	29,764	46,617	-2,046	36,869	32,663	59	23,161	0	0	0
Prepaid expenses and other assets
-23,892	-4,451	-2,568	5,175	13,117	253	12,638	14,050	16,258	17,246	8,317	6,295	-4,827	-4,976	-3,720	-2,156	2,013	-3,553	-12,970	-5,280	-5,909	-216	4,481	22,955	11,744	15,788	11,782	-6,158	-10,911	-15,190	-26,284	-9,758	7,047	6,777	28,324	10,727	4,553	4,338	-5,770	0	0	0
Accounts payable
-23,711	13,489	39,011	45,112	-16,480	-21,722	-16,032	-23,198	7,724	6,037	18,597	-2,920	8,587	4,750	-3,002	7,266	-14,443	2,120	-26,901	-33,905	-17,379	-21,424	31,772	38,664	6,506	-16,813	-34,191	-55,856	-22,317	-18,852	-14,529	-23,856	3,324	-9,354	-34,013	-25,480	-39,583	-44,552	-10,002	0	0	0
Accrued compensation
3,273	8,218	18,359	9,252	9,341	1,110	27,492	19,503	14,848	7,722	13,413	-2,921	18,584	-16,217	8,434	-11,159	-9,951	-6,561	-7,676	-4,097	-4,088	-4,430	-4,728	-3,110	-4,568	-5,816	-16,385	-6,754	-3,765	467	15,678	-4,484	-2,716	4,630	11,157	46,363	24,624	32,927	4,582	0	0	0
Contract liabilities
12,977	26,078	-6,039	-22,384	4,975	8,988	15,228	27,563	18,526	16,156	28,298	30,897	20,911	8,399	-13,874	-7,326	-11,892	-11,659	-10,319	12,821	9,300	14,701	23,833	-6,195	5,362	-7,703	-16,830	-14,593	-12,151	-2,827	2,425	6,995	8,106	15,056	-1,669	-5,295	-12,767	-15,074	-19,957	0	0	0
Other liabilities
-48,921	-40,861	-16,929	21,017	33,326	34,175	24,998	24,301	16,723	11,647	2,167	-9,868	-27,672	-27,654	-19,321	-622	16,466	-2,296	-7,143	-14,479	-14,147	-7,785	-9,419	-517	12,146	13,823	21,489	9,607	-9,628	-2,403	7,371	3,009	14,475	18,457	6,475	14,479	15,332	2,953	9,855	0	0	0
Income taxes receivable/payable
-13,330	-20,305	-11,386	13,832	14,858	21,685	17,596	49,831	14,905	961	-13,725	-55,365	-19,078	-10,813	-4,995	-31,554	-13,343	7,695	7,911	18,988	2,994	7,646	4,712	6,780	995	-9,518	-19,218	-9,264	-6,158	-14,129	2,665	-882	-1,997	18,023	10,553	10,497	-304	-9,931	2,618	0	0	0
Net cash provided by operating activities
192,464	205,791	208,513	222,846	261,388	228,113	185,733	142,691	111,221	139,057	137,992	123,791	162,142	59,658	142,020	118,551	168,323	181,008	162,847	147,177	95,936	91,111	127,376	136,779	131,938	161,713	137,750	145,088	148,650	137,464	158,021	161,425	160,372	161,003	131,623	140,678	109,406	120,933	106,842	0	0	0
Payments for business acquisitions, net of cash acquired
-	-	-	-	-	-	68,256	65,901	64,451	26,333	8,039	0	0	0	-	-	-	-	-	-	-	-	30,251	13,384	13,543	167,522	171,349	171,448	220,275	66,945	55,014	116,156	84,796	105,693	269,996	261,527	254,720	244,367	78,905	0	0	0
Capital expenditures
14,896	15,676	16,198	13,379	12,339	11,436	9,726	9,069	10,410	9,853	9,741	8,856	9,834	10,726	11,945	14,141	18,207	20,409	24,296	24,787	19,801	19,939	19,404	21,891	25,610	29,873	27,545	30,733	30,757	24,787	25,106	20,225	17,408	19,258	18,901	19,311	21,565	21,900	21,584	0	0	0
Payment received on note for sale of operation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale of property and equipment
0	0	-	0	0	0	-	0	0	0	-	0	0	2,595	-	3,678	1,571	5,914	10,426	10,893	11,461	7,884	4,594	4,066	4,084	3,723	2,089	2,099	1,502	952	1,037	904	1,036	1,112	879	1,615	1,828	3,133	3,128	0	0	0
Net cash used in investing activities
-123,622	-98,844	-99,706	-54,439	21,348	-26,645	-42,634	-35,262	-72,693	-34,879	-16,960	-16,341	-15,356	-93,277	-94,015	-91,271	-109,039	-21,645	-21,020	-45,200	-28,305	-31,628	-41,161	-27,309	-31,169	-189,572	-196,605	-199,726	-249,760	-91,496	-79,799	-141,349	-106,984	-129,662	-293,841	-280,046	-274,750	-263,162	-97,389	0	0	0
Cash flows from financing activities:
Proceeds from borrowings
531,909	569,899	417,262	433,894	350,656	327,666	401,965	337,735	289,983	274,629	243,553	0	0	0	-	-	-	-	64,794	0	0	0	-	-	-	-	296,389	295,921	335,745	141,360	52,672	86,404	58,776	46,297	67,618	0	0	0	-	-	-	-
Repayments on long-term debt
428,129	494,373	415,491	534,669	585,929	523,588	485,946	230,303	158,149	211,650	233,889	267,519	210,019	193,350	148,887	145,041	128,175	62,335	75,459	33,369	27,921	20,072	4,379	7,856	57,881	149,082	171,400	227,755	182,933	132,331	120,792	60,628	92,481	51,905	43,047	44,490	4,526	4,576	2,673	0	0	0
Distributions paid to noncontrolling interests
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,702	0	0	0	-	-	-	-
Excess tax benefits from stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	918	578	218	148	172	382	392	833	904	703	697	709	886	1,216	1,343	979	624	283	161	55	104	103	101	137	754	0	0	0
Repurchases of common stock
131,660	96,177	100,000	75,000	75,000	75,000	75,000	115,000	130,000	115,000	100,000	84,500	69,500	84,500	99,500	100,000	81,765	105,333	100,500	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Taxes paid on vested restricted stock
10,948	10,971	6,893	6,882	6,854	6,799	8,871	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Stock options exercised
15,844	10,850	11,751	8,079	5,409	10,250	13,520	13,763	22,839	21,736	18,555	23,266	19,379	16,271	17,953	17,883	12,744	13,389	10,825	11,145	10,621	19,028	23,834	18,606	18,961	19,231	15,993	20,978	23,845	18,265	18,166	13,251	11,887	8,098	8,378	8,200	6,170	5,190	3,353	0	0	0
Net change in overdrafts
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-
Dividends paid
32,818	31,210	29,674	28,130	26,575	25,542	24,477	23,469	22,543	22,117	21,672	21,196	20,654	20,166	19,735	19,378	18,992	18,581	18,240	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments of contingent earn-out liabilities
10,575	15,254	12,018	12,001	11,625	7,412	1,412	0	0	0	-	-	-	-	3,251	0	0	0	-	-	-	-	18,663	28,319	18,994	12,889	33,672	24,015	24,015	31,059	18,055	0	0	0	-	-	-	-	-	-	-	-
Net cash used in financing activities
-63,640	-67,236	-135,063	-216,446	-351,655	-302,162	-181,958	-28,272	-8,862	-62,533	-94,772	-123,234	-89,692	32,869	-25,388	-49,409	-45,179	-127,583	-123,579	-108,509	-129,549	-116,789	-87,677	-64,871	-87,325	41,506	85,615	60,542	154,267	-1,935	-67,394	21,060	-40,913	-8,762	31,351	116,369	143,111	142,117	121,434	0	0	0
Effect of exchange rate changes on cash, cash equivalents and restricted cash
-3,491	2,099	-1,727	1,089	-3,545	-5,848	-4,947	-3,900	2,167	4,398	3,256	638	579	2,643	2,516	864	1,044	-5,582	-5,301	-7,157	-6,789	-4,600	-5,464	-2,062	-5,794	-4,455	-2,303	-234	391	1,851	3,526	1,163	2,611	1,595	428	1,071	601	546	861	0	0	0
Net increase (decrease) in cash, cash equivalents and restricted cash
1,711	41,810	-27,983	-46,950	-72,464	-106,542	-43,806	75,257	31,833	46,043	29,516	-15,146	57,673	1,893	25,133	-21,265	15,149	26,198	12,947	-13,689	-68,707	-61,906	-6,926	42,537	7,650	9,192	24,457	5,670	53,548	45,884	14,354	42,299	15,086	24,174	-130,439	-21,928	-21,632	434	131,748	0	0	0
Supplemental information:
Cash paid during the period for:
Interest
12,763	13,163	12,310	13,605	14,732	14,886	15,570	14,125	12,429	11,486	11,504	12,256	11,425	13,763	12,575	11,328	10,839	7,199	7,323	7,196	7,493	7,909	8,293	7,429	6,959	6,768	5,049	4,937	4,934	4,704	5,279	5,322	5,067	4,748	4,226	3,256	2,637	1,519	1,287	0	0	0
Income taxes, net of refunds received of $0.5 million and $0.9 million
58,768	69,386	66,038	57,280	60,398	50,279	49,842	39,052	59,734	59,541	72,578	76,014	48,413	41,311	35,273	36,994	31,524	27,361	23,268	21,662	19,718	16,634	28,092	22,992	24,238	30,734	35,796	47,369	58,683	70,574	58,126	50,227	49,833	33,678	33,715	39,970	26,703	28,194	32,407	0	0	0