Uniti group inc. (UNIT)
CashFlow / TTM
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

-71,850

10,908

36,945

60,946

17,806

16,545

24,659

25,270

12,403

-8,828

-35,995

-43,173

-28,248

-212

11,324

23,070

32,906

0

0

0

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

388,048

405,754

417,010

428,592

440,856

451,750

459,112

459,808

447,565

434,205

417,926

401,205

390,991

375,970

362,481

353,029

325,088

0

0

0

Amortization of deferred financing costs and debt discount

45,614

42,779

36,319

30,126

25,453

24,614

24,351

24,268

23,871

23,102

0

0

0

-

-

-

-

-

-

-

Write off of deferred financing costs and debt discount

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest rate swap termination

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of deferred financing costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7,433

7,241

6,650

0

0

0

Amortization of debt discount

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7,883

7,732

7,118

0

0

0

Deferred income taxes

-14,284

-11,428

-7,441

-5,840

-7,946

-7,385

-34,971

-43,821

-41,671

-41,171

-15,303

-3,194

-2,972

-2,186

297

-1,518

-1,427

0

0

0

Loss on derivative instruments

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Straight-line revenues

-624

208

5,566

9,064

11,179

15,048

15,211

15,288

16,099

15,136

14,976

15,914

16,600

17,293

17,472

17,222

16,117

0

0

0

Stock-based compensation

11,915

10,808

9,936

9,054

7,742

8,064

8,150

8,155

8,291

7,713

6,989

6,352

5,548

4,846

4,295

3,743

2,864

0

0

0

Change in fair value of contingent consideration

-23,700

-28,500

-31,534

-28,733

-3,157

-3,721

958

-2,776

-4,038

10,736

0

0

0

-

-

-

-

-

-

-

Loss on asset disposal

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

1,169

435

0

0

0

-

-

-1,879

-1,669

-872

-1,724

-1,532

-1,069

-936

0

0

0

-

-

0

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

-3,235

-25,592

22,059

4,652

33,598

52,792

25,904

37,963

5,129

10,524

-1,451

-467

3,809

3,516

4,867

-1,910

-1,092

0

0

0

Other assets

-3,188

-10,297

-11,214

5,584

-5,402

-1,755

2,152

4,399

4,555

1,560

721

1,932

2,739

1,365

4,435

1,425

1,400

0

0

0

Accounts payable, accrued expenses and other liabilities

-13,167

-3,260

31,679

37,712

55,897

41,218

25,666

24,698

11,617

5,851

21,516

10,836

10,836

2,806

5,542

7,072

58,147

0

0

0

Net cash provided by operating activities

560,352

616,982

634,679

492,209

504,854

472,818

0

0

0

-

-

-

382,489

375,988

372,500

383,588

414,909

0

0

0

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

-

10,312

0

0

0

-

-

-

-

761,887

762,915

172,407

488,651

488,788

0

0

0

-

-

-

Asset acquisition

-

-

-

-

-

-

-

0

6,069

-

0

0

0

-

-

-

-

-

-

-

Consideration paid to Windstream Services, LLC

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Acquisition of ground lease investments

-

-

-

-

-

-

-

-

-

21,764

16,863

15,205

17,387

11,543

0

0

0

-

-

-

Other capital expenditures

346,115

350,480

391,329

440,586

451,890

423,575

352,035

283,261

202,240

166,028

135,346

77,375

49,754

34,900

54,356

47,775

44,490

0

0

0

Net cash used in investing activities

-536,206

-544,781

-631,370

-373,086

-512,106

-480,543

0

0

0

-

-

-

-620,414

-535,231

-552,443

-369,601

-1,080,755

0

0

0

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

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments on debt

-

21,080

21,080

21,080

21,080

21,080

21,080

21,080

21,080

21,080

21,093

21,173

21,253

22,027

0

0

0

-

-

-

Dividends paid

70,902

138,731

237,053

334,212

430,522

426,094

424,054

423,906

411,997

400,210

388,410

375,483

371,649

367,830

0

0

0

-

-

-

Payments of contingent consideration

31,169

32,253

32,253

34,148

14,148

18,640

18,640

13,870

13,870

19,999

0

0

0

-

-

-

-

-

-

-

Proceeds from issuance of Term Loans

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Proceeds from issuance of notes

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Distributions paid to noncontrolling interest

1,329

3,046

5,352

7,645

9,917

9,917

0

0

0

-

-

-

-

-

-

-

-

-

-

-

Borrowings under revolving credit facility

-

139,000

289,000

394,000

569,000

500,000

835,000

730,000

890,000

845,000

0

0

0

-

-

-

-

-

-

-

Payments under revolving credit facility

370,681

203,981

253,981

293,981

120,000

140,000

455,000

490,000

590,000

565,000

0

0

0

-

-

-

-

-

-

-

Capital lease payments

0

-

5,306

5,104

6,053

5,946

0

0

3,464

-

0

0

0

-

-

-

-

-

-

-

Payments for financing costs

61,081

49,497

0

0

0

-

-

-

-

28,539

0

0

0

-

-

-

-

0

0

0

Deferred financing costs

61,081

49,497

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Common stock issuance, net of costs

-

21,641

0

0

0

-

-

-

-

498,926

0

0

0

-

-

-

-

-

-

-

Employee stock purchase program

743

883

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net share settlement

628

1,834

1,862

1,795

2,526

1,605

1,659

1,717

804

1,836

1,988

1,998

2,783

2,359

2,123

1,712

1,379

0

0

0

Net cash (used in) provided by financing activities

-24,078

32,629

75,906

103,886

60,091

-13,841

0

0

0

-

-

-

141,362

188,766

10,888

-119,713

831,090

0

0

0

Cash and cash equivalents, held for sale

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Effect of exchange rates on cash and cash equivalents

-

-43

-391

-115

-282

-173

0

0

0

-

-

-

-51

-267

0

0

0

-

-

-

Cash in-lieu of fractional shares

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Net (decrease) increase in cash and cash equivalents

4,645

104,787

78,824

222,894

47,783

-21,739

68,570

-857,596

-11,825

-111,989

9,161

885,283

-96,614

29,256

-169,236

-105,802

165,322

0

0

0

Supplemental cash flow information:
Cash paid for interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

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

12,188

17,032

26,402

22,527

18,888

17,901

23,129

27,584

29,350

15,285

0

0

0

-

-

-

-

-

-

-

Tenant capital improvements

171,535

164,742

152,156

142,562

135,914

153,615

185,707

206,374

241,497

227,969

211,070

200,154

158,437

156,972

139,480

132,869

100,928

0

0

0

Settlement of contingent consideration through non-cash consideration

-

11,178

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0