Hostess brands, inc. (TWNK)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Jun'16Mar'16Dec'15Sep'15
Operating activities
Net income

2,640

23,555

10,729

16,669

26,612

16,352

11,152

24,620

29,302

189,572

16,130

28,207

24,199

-8,485

-1,983

-206

-263

-206

Depreciation and amortization

12,821

10,656

10,739

11,061

10,878

10,041

10,722

10,557

10,091

9,594

9,722

9,588

9,266

5,843

-

-

-

-

Impairment of property, goodwill and intangibles

-

-

-

-

-

-

-

-

1,417

0

1,003

0

0

0

-

-

-

-

Non-cash loss on debt modification

-

-

-

-

-

-

-

-

-

-

-

-

-

3,974

-

-

-

-

Debt discount (premium) amortization

338

56

-267

-308

-228

-269

-269

-270

-271

-278

-177

-222

-248

-197

-

-

-

-

Tax receivable agreement remeasurement and gain on buyout

0

-1,111

1,779

1,278

-1,761

-113

0

-1,752

-12,372

-51,811

1,589

0

0

0

-

-

-

-

Unrealized foreign exchange losses

-286

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash lease expense

590

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

Allocated Share-based Compensation Expense

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

Share-based compensation

2,077

2,074

2,377

2,499

2,281

1,363

1,516

1,098

1,623

-577

3,630

3,839

521

26,748

-

-

-

-

Deferred taxes

-649

4,602

3,882

8,519

-2,882

2,326

2,935

208

4,786

-101,263

7,488

7,050

5,455

-7,815

-

-

-

-

Loss on sale of assets

-27

-

-

-

0

-

-

-

-

-

-

-

-

0

-

-

-

-

Change in operating assets and liabilities, net of acquisitions and dispositions:
Change in operating assets and liabilities, net of acquisitions and dispositions:
Accounts receivable

17,463

-10,966

-8,972

-1,044

23,552

-1,784

-3,007

-2,979

11,437

279

613

4,060

6,823

-3,705

-

-

-

-

Inventories

-5,180

9,026

-862

-265

4,578

1,101

-1,112

-1,552

-2,006

533

15

1,708

1,645

-8,895

-

-

-

-

Prepaids and other current assets

-3,270

-4,058

2,132

4,578

-2,917

-1,897

764

3,698

-2,055

1,089

1,810

121

19

1,694

-

-

-

-

Changes in prepaid expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-61

13

-33

292

Changes in state franchise tax accrual

-

-

-

-

-

-

-

-

-

-

-

-

-

-

17

-24

-65

135

Accounts payable and accrued expenses

864

-4,233

137

1,574

16,594

-6,341

3,572

5,627

11,560

-2,530

13,787

-2,266

-4,152

-11,296

-

-

-

-

Customer trade allowances

3,161

1,122

-5,675

6,651

2,104

4,293

-4,295

1,939

-438

5,361

-2,868

1,605

-278

2,225

-

-

-

-

Other

-

-

-

-

-

-

-

-

-

-

-

-

8

344

-

-

-

-

Net cash provided by operating activities

13,142

36,622

33,288

45,679

28,385

33,784

28,689

42,860

38,322

45,912

49,994

41,511

26,268

13,611

55

-170

-80

-361

Investing activities
Purchases of property and equipment

11,323

6,454

13,023

5,905

9,493

11,699

13,050

11,817

8,019

10,158

7,654

10,582

4,519

6,494

-

-

-

-

Acquisition of business, net of cash acquired

318,427

0

0

0

0

-750

0

0

23,910

0

0

0

0

421,242

-

-

-

-

Proceeds from sale of assets

-

-

-

-

-

-

-

-

-

0

31

0

54

0

-

-

-

-

Acquisition and development of software assets

1,793

1,311

1,391

1,565

1,342

1,359

889

1,033

558

653

869

413

446

460

-

-

-

-

Net cash used in investing activities

-331,543

-7,773

48,939

-7,470

-10,835

-11,669

-13,939

-12,850

-32,487

-10,811

-8,492

-10,995

-4,911

-428,196

-152

-71

-9

-375,001

Financing activities
Repayments of long-term debt and lease obligations

2,792

2,424

2,414

2,526

2,530

2,527

2,527

2,525

2,526

41

2,533

33

2,537

217,400

-

-

-

-

Proceeds from long-term debt origination, net of fees paid

136,888

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in accrued expenses, formation and offering costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

75

202

15

Cash deposited in Trust Account

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

375,000

Interest reinvested in Trust Account

-

-

-

-

-

-

-

-

-

-

-

-

-

-

152

71

9

1

Proceeds from notes and advances payable  related party

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

300

Proceeds from sale of Class F common stock to Sponsor

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

25

Proceeds from sale of units in initial public offering

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

375,000

Proceeds from sale of Private Placement Warrants to Sponsor

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

9,500

Repayment of notes and advances payable  related party

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

300

Payment of underwriters discounts and commissions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

7,500

Payments of Stock Issuance Costs

-

-

-

-

-

-

-

-

-

-

-

-

-

13,125

-

-

425

357

Debt refinancing costs

-

-

-

-

-

-

-

-

-

-

-

-

-

1,820

-

-

-

-

Distributions to partners

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

Distributions to non-controlling interest

1,614

-1

1,743

4,459

457

18

70

5,310

4,153

45

4,022

8,918

0

0

-

-

-

-

Tax payments related to issuance of shares to employees

1,004

824

483

124

0

589

29

0

407

436

0

0

0

0

-

-

-

-

Cash received from exercise of options and warrants

155

-

0

23

0

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on tax receivable agreement

1,279

-47

0

2,322

457

0

0

7,353

34,000

-

-

-

-

0

-

-

-

-

Tax receivable agreement buyout

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

Proceeds from the exercise of warrants

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

Net cash provided by (used in) financing activities

130,354

-10,633

-4,640

-9,408

-3,444

-3,134

-2,626

-15,188

-41,086

-571

-6,555

-9,967

-2,537

-232,345

-

-

-425

376,667

Effect of exchange rate changes on cash and cash equivalents

-873

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

Net increase (decrease) in cash and cash equivalents

-188,920

18,216

77,587

28,801

14,106

18,981

12,124

14,822

-35,251

34,530

34,947

20,549

18,820

-646,930

-97

-241

-514

1,305

Supplemental Disclosures of Cash Flow Information:
Cash paid during the period for:
Interest

10,758

10,384

11,130

11,385

11,087

6,645

10,614

10,416

9,942

10,346

10,127

10,199

14,759

0

-

-

-

-

Net taxes refunded

-586

-576

601

1,825

-10

-670

133

3,452

507

3,715

2,972

9,930

0

43

-

-

-

-

Supplemental disclosure of non-cash investing
Supplemental disclosure of non-cash investing:
Accrued capital expenditures

2,014

1,442

-59

91

1,436

7,917

-1,447

746

642

157

809

-3,202

3,325

673

-

-

-

-

Deferred underwriting compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

13,125

0

13,125

Offering costs included in accrued expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

425