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

53,593

77,565

70,362

70,785

78,736

81,426

254,646

259,624

263,211

258,108

60,051

0

0

0

-2,660

0

0

0

Depreciation and amortization

45,277

43,334

42,719

42,702

42,198

41,411

40,964

39,964

38,995

38,170

34,419

0

0

0

-

-

-

-

Impairment of property, goodwill and intangibles

-

-

-

-

-

-

-

-

2,420

1,003

1,003

0

0

0

-

-

-

-

Non-cash loss on debt modification

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

Debt discount (premium) amortization

-181

-747

-1,072

-1,074

-1,036

-1,079

-1,088

-996

-948

-925

-844

0

0

0

-

-

-

-

Tax receivable agreement remeasurement and gain on buyout

1,946

185

1,183

-596

-3,626

-14,237

-65,935

-64,346

-62,594

-50,222

1,589

0

0

0

-

-

-

-

Unrealized foreign exchange losses

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash lease expense

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

Allocated Share-based Compensation Expense

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

Share-based compensation

9,027

9,231

8,520

7,659

6,258

5,600

3,660

5,774

8,515

7,413

34,738

0

0

0

-

-

-

-

Deferred taxes

16,354

14,121

11,845

10,898

2,587

10,255

-93,334

-88,781

-81,939

-81,270

12,178

0

0

0

-

-

-

-

Loss on sale of assets

0

-

-

-

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

-3,519

2,570

11,752

17,717

15,782

3,667

5,730

9,350

16,389

11,775

7,791

0

0

0

-

-

-

-

Inventories

2,719

12,477

4,552

4,302

3,015

-3,569

-4,137

-3,010

250

3,901

-5,527

0

0

0

-

-

-

-

Prepaids and other current assets

-618

-265

1,896

528

-352

510

3,496

4,542

965

3,039

3,644

0

0

0

-

-

-

-

Changes in prepaid expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

211

0

0

0

Changes in state franchise tax accrual

-

-

-

-

-

-

-

-

-

-

-

-

-

-

62

0

0

0

Accounts payable and accrued expenses

-1,658

14,072

11,964

15,399

19,452

14,418

18,229

28,444

20,551

4,839

-3,927

0

0

0

-

-

-

-

Customer trade allowances

5,259

4,202

7,373

8,753

4,041

1,499

2,567

3,994

3,660

3,820

684

0

0

0

-

-

-

-

Other

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

Net cash provided by operating activities

128,731

143,974

141,136

136,537

133,718

143,655

155,783

177,088

175,739

163,685

131,384

0

0

0

-556

0

0

0

Investing activities
Purchases of property and equipment

36,705

34,875

40,120

40,147

46,059

44,585

43,044

37,648

36,413

32,913

29,249

0

0

0

-

-

-

-

Acquisition of business, net of cash acquired

318,427

0

-750

-750

-750

23,160

23,910

23,910

23,910

0

421,242

0

0

0

-

-

-

-

Proceeds from sale of assets

-

-

-

-

-

-

-

-

-

85

85

0

0

0

-

-

-

-

Acquisition and development of software assets

6,060

5,609

5,657

5,155

4,623

3,839

3,133

3,113

2,493

2,381

2,188

0

0

0

-

-

-

-

Net cash used in investing activities

-297,847

22,861

18,965

-43,913

-49,293

-70,945

-70,087

-64,640

-62,785

-35,209

-452,594

0

0

0

-375,234

0

0

0

Financing activities
Repayments of long-term debt and lease obligations

10,156

9,894

9,997

10,110

10,109

10,105

7,619

7,625

5,133

5,144

222,503

0

0

0

-

-

-

-

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

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in accrued expenses, formation and offering costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Cash deposited in Trust Account

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Interest reinvested in Trust Account

-

-

-

-

-

-

-

-

-

-

-

-

-

-

234

0

0

0

Proceeds from notes and advances payable  related party

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Proceeds from sale of Class F common stock to Sponsor

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Proceeds from sale of units in initial public offering

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Proceeds from sale of Private Placement Warrants to Sponsor

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Repayment of notes and advances payable  related party

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Payment of underwriters discounts and commissions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Payments of Stock Issuance Costs

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

0

0

Debt refinancing costs

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

Distributions to partners

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

Distributions to non-controlling interest

7,815

6,658

6,677

5,004

5,855

9,551

9,578

13,530

17,138

12,985

12,940

0

0

0

-

-

-

-

Tax payments related to issuance of shares to employees

2,435

1,431

1,196

742

618

1,025

872

843

843

436

0

0

0

0

-

-

-

-

Cash received from exercise of options and warrants

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on tax receivable agreement

3,554

2,732

2,779

2,779

7,810

41,353

0

0

0

-

-

-

-

0

-

-

-

-

Tax receivable agreement buyout

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

Proceeds from the exercise of warrants

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

Net cash provided by (used in) financing activities

105,673

-28,125

-20,626

-18,612

-24,392

-62,034

-59,471

-63,400

-58,179

-19,630

-251,404

0

0

0

-

-

0

0

Effect of exchange rate changes on cash and cash equivalents

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

Net increase (decrease) in cash and cash equivalents

-64,316

138,710

139,475

74,012

60,033

10,676

26,225

49,048

54,775

108,846

-572,614

0

0

0

452

0

0

0

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

43,657

43,986

40,247

39,731

38,762

37,617

41,318

40,831

40,614

45,431

35,085

0

0

0

-

-

-

-

Net taxes refunded

1,264

1,840

1,746

1,278

2,905

3,422

7,807

10,646

17,124

16,617

12,945

0

0

0

-

-

-

-

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

3,488

2,910

9,385

7,997

8,652

7,858

98

2,354

-1,594

1,089

1,605

0

0

0

-

-

-

-

Deferred underwriting compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

26,250

0

0

0

Offering costs included in accrued expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0