Twin disc inc (TWIN)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Sep'18Jun'18Mar'18Mar'18Dec'17Dec'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'11Dec'10Sep'10
Cash flows from operating activities:
Net (loss) income

-25,176

-6,466

-6,293

-773

4,587

4,079

2,903

2,903

5,957

-

4,336

-

-4,051

3,405

1,175

-1,727

-2,892

-2,671

-5,518

-931

-2,289

-4,275

476

3,047

3,800

4,062

2,382

-442

566

1,364

173

-607

3,419

1,266

1,353

10,029

5,924

9,635

6,833

4,542

4,060

2,697

Adjustments to reconcile net (loss) income to net cash provided (used) by operating activities, net of acquired assets:
Depreciation and amortization

2,991

3,000

2,926

2,361

2,464

2,161

2,349

2,349

1,556

-

1,645

-

1,619

1,644

1,649

1,688

1,764

1,916

2,211

2,213

2,202

2,221

2,522

2,468

2,607

2,564

2,717

2,742

2,595

2,603

2,813

2,680

2,713

2,632

2,746

2,699

2,738

2,573

2,921

2,365

2,346

2,272

Restructuring expenses

-

-

-

-

-

-

-2

-

76

-

0

-

-28

190

-37

-45

-45

219

78

-166

442

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Restructuring of operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

1,094

708

0

0

0

-

-

-

-

-

-

-

-

Provision for deferred income taxes

-2,324

-2,238

-1,663

5,688

-1,397

-905

3,460

3,460

-451

-

1,842

-

6,455

-4,842

-605

-1,060

-1,245

-1,335

-3,023

-5,314

3,140

-7,006

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Stock compensation expense and other non-cash changes, net

85

317

457

468

617

614

-

892

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of inventory fair value step-up

-

-

-

1,054

1,050

1,002

1,171

1,171

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other, net

-

-

-

-

-

-

892

-

-1,393

-

266

-

564

500

-1,156

443

395

325

-975

329

342

378

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other non-cash changes, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

42

318

-962

-

-459

2,341

-2,323

-

-80

624

-2,223

-

-801

-6,261

2,505

-

2,248

1,576

1,713

Net change in operating assets and liabilities

-3,324

-178

-6,054

-

14,371

11,552

9,951

9,953

-

-

10,900

-

-684

2,328

-

339

-2,245

1,115

-

-2,983

5,914

-6,310

-

-1,303

-2,563

7,209

-

4,589

-9,075

-2,338

-

3,443

-4,502

4,039

-

13,749

44,569

-16,354

-

-13,572

-3,580

-2,601

Net cash provided (used) by operating activities

5,215

-1,365

1,481

6,697

-8,379

-4,601

822

822

5,510

-

-2,811

-

5,243

-1,431

4,020

1,597

222

-2,661

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,290

10,010

2,082

18,253

-220

-1,948

-1,641

9,794

-4,417

4,402

4,081

Cash flows from investing activities:
Acquisitions of fixed assets

2,295

2,823

4,037

3,068

2,235

3,120

3,556

3,556

1,974

-

1,341

-

1,546

1,467

1,264

775

569

525

660

678

1,473

1,403

3,151

1,378

2,345

2,175

2,062

2,179

2,138

866

1,464

1,589

2,192

1,337

3,173

3,667

3,306

3,587

7,929

1,184

1,668

1,247

Proceeds from sale of fixed assets

54

26

29

94

82

33

30

30

11

-

62

-

62

17

206

2

1

8

31

13

1

79

69

109

12

89

-18

75

46

0

134

146

4

31

21

23

72

0

238

5

4

49

Proceeds from life insurance policy

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

95

0

1,907

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other, net

-102

0

129

4

100

0

129

129

-1

-

0

-

0

129

-3

0

0

129

0

-1

86

185

-381

0

-1,719

166

-278

0

244

0

-1

-61

0

293

0

0

0

293

0

0

0

293

Net cash provided by operating activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-886

-2,077

-2,372

1,560

6,056

9,065

379

7,962

-1,830

9,895

9,722

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of Mill Log, net of costs to sell

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

3,500

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition of Veth Propulsion, less cash acquired

-

-

-

0

544

2

59,649

59,649

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash (used) provided by investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-569

-1,558

3,898

-2,701

-1,269

-614

-2,252

-1,802

-2,104

-2,336

-866

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from senior notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

65

0

1

18

Net cash used by investing activities

-2,139

-2,797

-4,137

-2,877

2,361

-3,089

-63,304

-63,304

-1,962

-

-1,279

-

-1,484

-1,579

-1,055

-773

-568

-646

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,382

-2,188

-1,599

-3,152

-3,644

-3,234

-3,880

-7,691

-1,179

-1,664

-1,491

Cash flows from financing activities:
Borrowings under long-term debt arrangement

-

-

-

-

-

-

35,000

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of long-term borrowings

-

-

-

-

-

-

24,234

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments of long term debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,987

-5,043

6,935

-

3,421

958

11,164

-1,053

-1,826

-221

1,695

Borrowings under revolving loan arrangement

19,604

25,898

33,095

23,950

30,229

26,572

67,103

67,103

26,227

-

19,100

-

19,160

16,155

15,127

11,845

13,005

13,943

29,286

18,175

19,232

22,780

22,546

20,910

18,475

21,750

21,893

17,350

14,600

16,600

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of revolver loans

28,675

22,733

25,397

-

36,830

17,095

-

45,231

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayments under revolving loan agreement

-

-

-

-

-

-

45,231

-

29,005

-

16,181

-

22,721

14,236

17,797

10,650

14,915

12,751

29,012

23,736

16,140

22,315

17,574

25,250

25,300

16,550

24,944

13,348

18,347

18,905

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of long term debt

-

-

-

880

-358

-4

-

24,234

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Dividends paid to noncontrolling interest

0

0

127

0

0

0

115

115

0

-

0

-

0

172

0

0

0

109

0

0

0

192

1

0

0

219

0

1

0

486

0

0

0

204

1

0

-2

132

1

-2

1

138

Excess tax benefits (shortfall) from stock compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-31

-

0

89

435

175

0

-40

1,316

-

-

-

-

-

-

-

-

Payments of withholding taxes on stock compensation

0

0

913

79

0

0

926

926

0

-

22

-

187

213

0

0

0

140

0

0

0

190

0

0

-1

314

-1

0

44

2,126

0

0

0

1,700

-

-

-

-

-

-

-

-

Proceeds from issuance of common stock, net

-

-

-

0

0

0

32,210

32,210

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from exercise of stock options

-

-

-

0

0

24

12

12

-

-

-

-

-

0

-

-

-

-

-

-

-

-

0

0

0

15

0

0

0

0

0

0

60

129

0

0

0

169

119

96

36

71

Borrowings under term debt arrangement

-

-

-

329

9,151

0

-

35,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefits (shortfall) from stock compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-20

-133

-82

0

-319

52

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Dividends paid to shareholders

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

1,022

1,019

1,014

1,017

1,015

1,015

1,014

1,014

1,016

1,015

1,012

1,011

1,029

1,026

1,029

1,029

914

914

917

908

794

792

Payments of senior notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,570

2

-1

29

3,592

20

25

14

0

45

-37

88

36

57

-1

53

1

15

25

42

Net cash used by financing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-5,561

1,763

-884

397

-5,359

-7,843

3,607

-7,656

2,967

-4,743

-5,511

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefits from stock compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-445

-

-

-

-

Other

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-2

-183

-87

35

56

132

Net cash (used) provided by financing activities

-9,632

2,562

6,658

-7,072

2,908

9,505

63,819

63,819

-2,749

-

2,897

-

-3,748

1,534

-2,670

1,348

-1,930

810

-

-

-

-

-

-

-

-

-

-

-

-

-

-305

-9,084

5,362

-16,440

2,335

135

10,496

-1,558

-2,616

-948

944

Effect of exchange rate changes on cash

154

-69

141

-143

325

170

49

49

-743

-

542

-

294

570

1,132

-223

-810

301

155

-215

-533

-542

73

-994

-1,135

-791

-107

203

246

-7

-402

-432

339

-53

-588

536

-1,030

-444

1,123

472

1,335

558

Net change in cash

-6,402

-1,669

4,143

-3,395

-2,785

1,985

1,386

1,386

56

-

-651

-

305

-906

1,427

1,949

-3,086

-2,196

4,873

-7,231

-2,405

100

-671

-1,566

-527

943

-1,603

-764

3,062

3,338

3,563

-3,409

-923

5,792

-1,927

-993

-6,077

4,531

1,668

-7,740

3,125

4,092