Travelport Worldwide LTD TVPT Cash Flow

Travelport worldwide ltd (TVPT)

CashFlow / Quarterly

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	Dec'14	Sep'14	Jun'14	Mar'14
Operating activities
Net income
22,392	3,067	5,870	7,005	59,231	45,370	4,681	34,366	55,863	-9,110	21,404	-14,429	17,181	5,959	4,950	16,409	-7,108	-41,700	155,000	5,000	-27,000
Income from discontinued operations, net of tax
-	0	0	0	27,747	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income from continuing operations
22,392	3,067	5,870	7,005	31,484	43,363	4,681	34,366	55,863	-	-	-	-	-	-	-	-	-	-	-	-
Adjustments to reconcile net income from continuing operations to net cash provided by operating activities:
Depreciation and amortization
54,026	50,247	50,253	49,568	48,577	50,439	50,314	53,648	52,909	51,341	53,581	52,246	52,241	59,083	56,270	57,847	61,028	61,848	58,000	57,000	56,000
Amortization of customer loyalty payments
16,454	17,934	20,062	22,148	22,343	17,303	19,896	18,657	18,795	15,944	20,932	17,687	16,574	16,250	14,530	17,938	18,329	20,158	19,000	19,000	18,000
Impairment of long-lived assets
3,968	2,593	3,269	11,152	491	1,078	0	0	685	6,566	499	3,626	461	-	-	-	-	-	-	-	-
Amortization of debt finance costs and debt discount
836	1,115	862	861	1,890	2,221	2,422	2,696	2,673	2,714	2,796	2,555	2,571	2,601	2,608	2,593	2,551	7,529	2,000	3,000	3,000
Gain on sale of shares of Orbitz Worldwide
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	6,271	-	-	-	-
Payment-in-kind interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-384	5,000	6,000	6,000
Share of losses in equity method investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-154	-342	-194	19	-84	2,000	1,000	-4,000
Accrual of repayment fee and amortization of debt discount
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,000	2,000	3,000
Loss on early extinguishment of debt
-17	-36	-38	0	-27,661	-	-	-	-	-	-	-	-	-	-	-	-	410	-94,000	-9,000	-5,000
Unrealized (gain) loss on foreign exchange derivative instruments
4,448	-2,177	-2,799	-20,596	-242	5,109	6,336	13,219	7,701	-8,276	-708	-13,525	11,074	-2,102	-1,621	18,772	-10,586	-7,442	-9,000	-2,000	1,000
Unrealized loss (gain) on interest rate derivative instruments
-7,727	-10,308	-1,175	2,396	10,430	6,885	1,880	-3,227	226	11,303	4,391	-5,406	-16,456	-	-	-	-	-	-	-	-
Equity-based compensation
3,843	5,135	-59	6,848	5,056	8,527	8,923	7,516	8,006	10,487	5,538	7,105	9,117	5,000	5,701	6,578	12,402	10,583	21,000	8,000	1,000
Deferred income taxes
1,052	8	360	2,347	-9,836	-27,048	-507	51	152	5,793	42	1,714	-887	-2,392	337	2,210	1,724	-2,506	4,000	2,000	3,000
Customer loyalty payments
18,046	15,818	17,674	28,309	27,366	21,416	19,207	18,630	16,755	28,029	12,611	18,615	25,307	19,033	13,468	18,811	23,400	26,945	21,000	19,000	26,000
Pension liability contribution
2,916	2,594	345	366	338	615	339	607	595	717	603	719	1,118	483	726	878	672	-	-	-	-
Changes in assets and liabilities:
Accounts receivable, net
50,065	-38,568	-13,649	-7,153	62,768	-46,446	-2,140	-7,849	49,198	-25,645	1,348	-11,970	49,424	-31,178	1,430	-3,557	51,218	-39,578	13,000	-17,000	55,000
Other current assets
-342	-5,447	4,593	283	8,057	5,418	10,839	-7,421	4,075	-5,923	-3,571	-4,179	23,251	-12,577	33,902	-7,189	12,520	-8,359	10,000	-5,000	-4,000
Accounts payable, accrued expenses and other current liabilities
41,138	-53,899	8,268	22,231	53,750	-47,059	50,025	-25,970	37,449	-2,244	15,419	-23,336	27,232	-20,373	32,871	-9,012	8,104	-9,870	-66,000	-64,000	42,000
Other
7,169	14,605	-785	634	10,398	-13,191	-8,240	7,797	-2,960	3,168	4,434	459	-4,568	24,520	-8,135	14,105	-2,497	2,954	-4,000	23,000	-13,000
Net cash provided by operating activities
83,489	78,929	83,149	119,189	83,097	43,320	95,735	83,585	95,022	85,161	110,926	76,728	26,204	108,488	61,569	81,147	11,019	69,451	-53,000	19,000	23,000
Investing activities
Property and equipment additions
34,097	35,397	34,770	37,803	36,663	38,322	32,363	23,220	23,609	37,330	25,145	22,464	22,521	29,710	23,891	25,410	27,084	28,723	29,000	28,000	26,000
Proceeds from sale of shares of Orbitz Worldwide
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	6,271	-	-	-	-
Net cash used in investing activities
-34,097	-35,397	-34,770	-37,803	-36,663	-38,322	-32,363	-26,653	-23,609	-37,330	-25,145	-37,473	-22,521	-35,664	-84,424	-25,410	-20,813	-37,001	283,000	16,000	-36,000
Purchase of equity method investment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	10,000
Financing activities
Proceeds from term loans
-	0	0	0	1,400,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of senior secured notes
-	0	0	0	745,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of term loans
-5,500	-7,500	-7,500	0	-2,153,750	-55,937	-169,938	-5,937	-5,938	-428,144	55,937	145,761	9,405	-41,563	5,938	5,937	5,938	-2,953,531	1,469,000	4,000	4,000
Repayment of finance lease obligations
9,366	-	-	-	7,409	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of other indebtedness
263	-	-	-	591	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of capital lease obligations and other indebtedness
-	-	-	-	-	13,500	10,321	9,979	9,511	28,104	10,664	11,463	12,079	10,894	9,522	8,011	8,056	8,901	8,000	8,000	7,000
Proceeds from revolver borrowings
-	-	-	-	-	-	-	-	-	0	0	0	10,000	-	-	-	-	0	25,000	0	50,000
Repayment of revolver borrowings
-	-	-	-	-	-	-	-	-	0	0	0	10,000	-	-	-	-	-	-	-	-
Debt finance costs and lender fees
-	0	27	4,143	17,381	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment related to early extinguishment of debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-407	43,000	0	3,000
Release of cash provided as collateral
-	-	-	-	-	-	-	-	-	-	-	-	-	0	21,550	2,057	2,279	-	-	-	-
Dividend to shareholders
-	9,621	9,435	9,610	9,427	10,555	9,377	9,551	9,306	9,374	9,294	9,285	9,280	9,339	9,187	9,449	9,106	-	-	-	-
Proceeds from share issuance under employee share purchase plan and stock options
463	435	2,380	3,992	2,088	1,061	900	484	632	-	-	-	0	-	-	-	-	-	-	-	-
Treasury share purchase related to vesting of equity awards
173	791	40	2,346	235	8,767	78	2,255	128	647	0	729	275	-	-	-	-	-	-	-	-
Proceeds from settlement of derivative instruments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,000
Net cash used in financing activities
-14,839	-30,605	-27,836	-23,765	-41,705	-87,698	-75,500	-28,301	-24,251	-45,835	-74,315	-39,558	-31,039	-18,299	-3,097	-35,820	-20,821	-17,383	-197,000	-122,000	39,000
Effect of changes in exchange rates on cash, cash equivalents and restricted cash
202	-	-	-1,276	397	-	-	475	307	-458	-3	-753	508	-1,010	242	-279	-973	-	-	-	-
Net increase in cash, cash equivalents and restricted cash
34,755	12,574	20,296	56,345	5,126	-82,607	-11,867	29,106	47,469	1,538	11,463	-1,056	-26,848	53,515	-25,710	19,638	-31,588	14,263	32,000	-87,000	26,000
Supplemental disclosure of cash flow information
Interest payments, net of capitalized interest
37,267	14,393	36,907	8,982	31,530	27,172	26,847	26,321	30,126	25,470	24,134	49,374	37,480	36,354	36,436	34,831	37,901	31,168	113,000	93,000	57,000
Income tax payments, net of refunds
8,118	10,799	10,802	14,229	11,902	19,346	9,083	10,552	3,905	5,707	6,496	4,024	4,549	6,628	4,773	6,009	7,263	7,204	6,000	6,000	7,000
Right-to-use assets obtained in exchange for finance lease liabilities
1,943	-	-	-	2,164	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash capital lease asset additions
-	-	-	-	-	20,016	5,810	10,523	1,651	18,159	8,585	1,190	6,779	4,165	60,469	21,081	4,070	3,554	8,000	1,000	5,000
Non-cash purchase of property and equipment
-	0	0	0	4,220	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash exchange of debt for equity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	371	254,000	182,000	135,000