Uniti group inc. (UNIT)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15
Cash flow from operating activities
Net (loss) income

-80,266

-11,354

-19,777

39,547

2,492

14,683

4,224

-3,593

1,231

22,797

4,835

-16,460

-20,000

-4,370

-2,343

-1,535

8,036

7,166

9,403

8,301

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization

86,121

98,183

101,166

102,578

103,827

109,439

112,748

114,842

114,721

116,801

113,444

102,599

101,361

100,522

96,723

92,385

86,340

87,033

87,271

64,444

Amortization of deferred financing costs and debt discount

9,708

12,734

12,386

10,786

6,873

6,274

6,193

6,113

6,034

6,011

6,110

5,716

5,265

-

-

-

-

-

-

-

Write off of deferred financing costs and debt discount

-73,952

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest rate swap termination

1,666

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of deferred financing costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,959

1,863

1,818

1,793

1,767

1,272

Amortization of debt discount

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,038

1,980

1,946

1,919

1,887

1,366

Deferred income taxes

-4,919

-5,291

-3,425

-649

-2,063

-1,304

-1,824

-2,755

-1,502

-28,890

-10,674

-605

-1,002

-3,022

1,435

-383

-216

-539

-380

-292

Loss on derivative instruments

269

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Straight-line revenues

-109

-1,242

34

693

723

4,116

3,532

2,808

4,592

4,279

3,609

3,619

3,629

4,119

4,547

4,305

4,322

4,298

4,297

3,200

Stock-based compensation

2,995

2,878

2,845

3,197

1,888

2,006

1,963

1,885

2,210

2,092

1,968

2,021

1,632

1,368

1,331

1,217

930

817

779

338

Change in fair value of contingent consideration

1,500

0

-3,000

-22,200

-3,300

-3,034

-199

3,376

-3,864

1,645

-3,933

2,114

10,910

-

-

-

-

-

-

-

Loss on asset disposal

-1,923

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

97

591

2,096

-1,615

-637

-

-

-676

-921

-62

-220

-466

-124

-914

-28

-3

9

-

-

-35

Changes in assets and liabilities, net of acquisitions:
Accounts receivable

-3,246

-9,707

9,284

434

-25,603

37,944

-8,123

29,380

-6,409

11,056

3,936

-3,454

-1,014

-919

4,920

822

-1,307

432

-1,857

1,640

Other assets

8,083

-5,737

-17,409

11,875

974

-6,654

-611

889

4,621

-2,747

1,636

1,045

1,626

-3,586

2,847

1,852

252

-516

-163

1,827

Accounts payable, accrued expenses and other liabilities

44,691

-59,811

33,498

-31,545

54,598

-24,872

39,531

-13,360

39,919

-40,424

38,563

-26,441

34,153

-24,759

27,883

-26,441

26,123

-22,023

29,413

24,634

Net cash provided by operating activities

132,272

55,186

311,432

61,462

188,902

72,883

168,962

74,107

156,866

-

-

-

128,202

75,437

116,740

62,110

121,701

71,949

127,828

93,431

Cash flow from investing activities
Acquisition of businesses, net of cash acquired

-

6,101

1

0

4,210

-

-

-

-

-1,778

763,913

0

-248

-750

173,405

316,244

-111

-

-

-

Asset acquisition

-

-

-

-

-

-

-

192

962

-

633

3,302

64,622

-

-

-

-

-

-

-

Consideration paid to Windstream Services, LLC

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

1,035,029

Acquisition of ground lease investments

-

-

-

-

-

-

-

-

-

7,895

4,514

2,164

7,191

2,994

2,856

4,346

1,347

-

-

-

Other capital expenditures

75,093

85,618

84,384

101,020

79,458

126,467

133,641

112,324

51,143

54,927

64,867

31,303

14,931

24,245

6,896

3,682

77

43,701

315

397

Net cash used in investing activities

-75,093

-93,547

-394,070

26,504

-83,668

-180,136

-135,786

-112,516

-52,105

-

-

-

-86,496

-26,489

-183,157

-324,272

-1,313

-43,701

-315

-1,035,426

Cash flow from financing activities
Repayment of Senior Secured Term Loan B

2,044,728

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments on debt

-

5,270

5,270

5,270

5,270

5,270

5,270

5,270

5,270

5,270

5,270

5,270

5,270

5,283

5,350

5,350

6,044

-

-

-

Dividends paid

42,519

9,656

8,914

9,813

110,348

107,978

106,073

106,123

105,920

105,938

105,925

94,214

94,133

94,138

92,998

90,380

90,314

-

-

-

Payments of contingent consideration

7,086

0

4,083

20,000

8,170

0

5,978

0

12,662

0

1,208

0

18,791

-

-

-

-

-

-

-

Proceeds from issuance of Term Loans

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

1,127,000

Proceeds from issuance of notes

2,250,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Distributions paid to noncontrolling interest

762

173

187

207

2,479

2,479

2,480

2,479

2,479

-

-

-

-

-

-

-

-

-

-

-

Borrowings under revolving credit facility

-

0

0

0

139,000

150,000

105,000

175,000

70,000

485,000

0

335,000

25,000

-

-

-

-

-

-

-

Payments under revolving credit facility

196,700

0

0

173,981

30,000

50,000

40,000

0

50,000

365,000

75,000

100,000

25,000

-

-

-

-

-

-

-

Capital lease payments

1,026

-

1,283

890

1,006

2,127

1,081

1,839

899

-

1,003

673

672

-

-

-

-

-

-

-

Payments for financing costs

47,775

0

35

13,271

36,191

-

-

-

-

6

3,122

993

24,418

-

-

-

-

39

85

29,933

Deferred financing costs

47,775

0

35

13,271

36,191

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Common stock issuance, net of costs

-

0

0

0

21,641

-

-

-

-

2

-53

499,031

-54

-

-

-

-

-

-

-

Employee stock purchase program

306

36

400

1

446

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net share settlement

373

2

67

186

1,579

30

0

917

658

84

58

4

1,690

236

68

789

1,266

0

-343

456

Net cash (used in) provided by financing activities

-90,663

-16,143

-19,439

102,167

-33,956

27,134

8,541

58,372

-107,888

-

-

-

-145,028

82,130

58,471

145,789

-97,624

-95,748

-72,130

1,096,592

Cash and cash equivalents, held for sale

-

-

-

-

-4,774

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Effect of exchange rates on cash and cash equivalents

-

0

0

-197

154

-348

276

-364

263

-

-

-

294

-86

-105

-154

78

-

-

-

Cash in-lieu of fractional shares

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

19

Net (decrease) increase in cash and cash equivalents

-33,484

-54,504

-102,077

194,710

66,658

-80,467

41,993

19,599

-2,864

9,842

-884,173

865,370

-103,028

130,992

-8,051

-116,527

22,842

-67,500

55,383

154,597

Supplemental cash flow information:
Cash paid for interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

88,828

34,017

24,583

Non-cash investing and financing activities:
Property and equipment acquired but not yet paid

14,221

-2,915

130

752

19,065

6,455

-3,745

-2,887

18,078

11,683

710

-1,121

4,013

-

-

-

-

-

-

-

Tenant capital improvements

36,444

42,165

41,440

51,486

29,651

29,579

31,846

44,838

47,352

61,671

52,513

79,961

33,824

44,772

41,597

38,244

32,359

27,280

34,986

6,303

Settlement of contingent consideration through non-cash consideration

-

0

0

0

11,178

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Issuance of notes and other debt to Windstream Services, LLC, net of deferred financing costs ($34,681)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

2,412,829