Universal stainless & alloy products inc (USAP)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Operating Activities:
Net (loss) income

4,275

10,662

7,610

-5,347

-

-

-

-

-

-

-

Net income (loss)

-

-

-

-

-20,672

4,050

-4,062

14,617

18,122

13,242

-2,958

Adjustments for non-cash items:
Depreciation and amortization

19,133

18,918

18,823

18,533

18,608

17,476

16,280

14,368

8,851

5,486

4,859

Gain on sale of property, plant and equipment

-

-

-

-

-

-

-

12

20

-17

-84

Deferred income tax

-517

1,850

-7,593

-3,525

-12,060

2,935

-2,998

12,635

10,072

730

1,853

Write-off of deferred financing costs

-

-

-

768

-

-

-

-

-

-

-

Share-based compensation expense

1,390

1,442

1,564

1,405

1,865

2,082

1,827

1,649

1,580

1,676

972

Net gain on asset disposals

-

-

-

340

-

-

-

-

-

-

-

Goodwill impairment

-

-

-

-

20,268

-

-

-

-

-

-

Changes in assets and liabilities:
Accounts receivable, net

2,977

7,628

5,567

1,754

-11,374

7,610

-3,334

-10,267

5,281

12,245

-16,029

Inventory, net

14,965

20,373

27,378

9,155

-15,929

20,075

-11,934

12,402

16,958

28,388

-21,900

Accounts payable

-1,412

5,293

14,178

7,096

-13,009

10,721

3,678

-19,302

-5

11,661

-12,546

Accrued employment costs

-3,490

3,865

272

547

-2,755

2,581

-1,241

-2,876

2,057

4,310

-2,617

Income taxes

84

-246

77

200

-248

514

494

3,208

-4,672

4,175

-1,613

Other, net

5,930

-2,824

881

22

130

-215

340

180

2,887

-243

-764

Net cash (used in) provided by operating activities

-

-

-

-

19,170

12,889

28,906

-

-

-

-

Net cash used in operating activities

-4,409

16,607

1,105

8,406

-

-

-

21,972

10,859

907

26,727

Investing Activity:
Capital expenditures

17,354

15,388

7,996

4,376

9,551

11,173

11,789

35,057

16,790

6,903

11,415

Business acquisition, net of convertible notes assumed

-

-

-

-

-

-

-

-

91,298

-

-

Proceeds from sale of property, plant and equipment

-

10

70

1,571

-

-

-

14

20

18

60

Proceeds from insurance recovery

-

-

-

-

218

-

-

-

-

-

-

Net cash (used in) investing activity

-

-

-

-

-9,333

-11,173

-11,789

-

-

-

-

Net cash used in investing activity

-17,354

-15,378

-7,926

-2,805

-

-

-

-35,043

-108,068

-6,885

-11,355

Financing Activities:
Borrowings under revolving credit facility

174,907

368,910

350,314

241,152

73,515

103,785

76,784

119,092

65,925

-

-

Payments on revolving credit facility

153,632

388,728

338,836

259,243

80,253

103,706

92,230

87,000

31,275

-

-

Proceeds under New Markets Tax Credit financing, net

-

2,835

-

-

-

-

-

-

-

-

-

Borrowings under term loan facility

-

-

-

30,000

-

-

-

-

40,000

-

-

Payments on term loan facility, finance leases, and notes

3,904

12,364

5,078

-

-

-

-

-

-

-

-

Payments on term loan facility, finance leases, and notes

-

-

-

17,448

-

-

-

-

-

-

-

Payments of financing costs

-

1,109

-

750

584

-

1,165

348

1,371

-

84

Proceeds from public offering, net of cash expenses

-

32,246

-

-

-

-

-

-

-

-

-

Payments on term loan facility, capital leases, and convertible notes

-

-

-

-

3,000

3,000

1,500

20,000

-

-

-

Proceeds from the issuance of common stock

-

-

-

-

455

1,040

-

-

-

603

372

Borrowings under term loan facility

-

-

-

-

-

-

-

-

-

-

12,000

Payment on term loan facility

-

-

-

-

-

-

-

-

-

2,223

403

Proceeds from the exercise of stock options

471

865

553

651

-

-

-

-

-

-

-

Debt repayments

-

-

-

-

-

-

-

-

10,823

-

-

Proceeds from the issuance of common stock

-

-

-

-

-

-

1,117

1,608

627

-

-

Purchase of treasury stock

-

-

-

-

-

-

137

234

-

260

-

Net cash provided by financing activities

-

-

-

-

-9,867

-1,881

-17,131

-

-

-

-

Tax benefit from share-based compensation expense

-

-

-

-

-

-

-

-

-

143

86

State grant funding the purchase of new equipment

-

-

-

-

-

-

-

-

-

500

-

Net cash provided by financing activities

17,842

2,655

6,953

-5,638

-

-

-

13,118

63,083

-1,237

11,971

Net increase (decrease) in cash and restricted cash

-3,921

3,884

132

-37

-

-

-

-

-

-

-

Net increase (decrease) in cash

-

-

-

-

-30

-165

-14

47

-34,126

-7,215

27,343

Capital expenditures included in accounts payable

-

-

-

-

-

-

-

-

7,690

578

979

Convertible notes issued as acquisition consideration

-

-

-

-

-

-

-

-

20,000

-

-

Supplemental Disclosure of Cash Flow Information:
Interest paid

3,670

4,183

4,027

3,451

-

-

-

-

-

446

65

Interest paid

-

-

-

-

2,384

3,046

2,534

2,340

1,334

-

-

Income taxes paid (refunded), net

69

102

-85

-201

165

-318

-

-

-

-

-

Income taxes paid (refunded), net

-

-

-

-

-

-

-

-9,805

4,782

1,774

-1,368