Vectrus, inc. (VEC)
CashFlow / Quarterly
Apr'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Sep'18Jun'18Jun'18Mar'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14
Operating activities
Net income

8,668

10,626

9,382

7,634

7,074

10,123

-

9,866

-

9,196

6,111

6,111

41,567

5,801

5,461

6,668

4,409

6,606

6,051

6,589

5,961

14,027

6,020

4,965

3,330

2,115

6,132

11,235

Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation expense

996

984

857

750

788

720

-

391

-

284

-

403

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of intangible assets

1,000

1,000

823

677

600

531

-

531

-

531

-

406

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation and amortization

-

-

-

-

-

-

922

-

815

-

809

-

-

347

387

407

-

441

407

605

-

747

833

920

-233

813

834

735

Loss on disposal of property, plant, and equipment

-

-

-

-

-

-33

-

-264

-

-11

-40

-40

0

0

0

0

-3

-13

-112

-277

-358

0

-328

0

-

-

-

-

Stock-based compensation

2,367

2,310

1,921

2,569

1,462

686

-

889

-

1,106

1,415

1,415

1,126

346

1,909

1,086

1,107

274

1,555

1,713

1,037

1,769

1,973

1,879

2,324

0

0

0

Amortization of debt issuance costs

99

103

100

102

99

108

-

105

-

107

106

106

903

180

187

194

283

337

350

228

575

155

200

200

185

0

0

0

Changes in assets and liabilities:
Receivables

-3,942

13,627

7,297

-12,426

12,650

9,467

-

6,359

-

-28,222

37,042

37,042

-274

8,887

-1,350

-7,441

9,687

-14,043

-15,749

-17,709

-3,976

3,940

333

9,589

17,849

-53,020

-28,656

42,219

Other assets

5,715

-7,357

-1,308

7,222

-94

2,524

-

1,151

-

3,354

1,164

1,164

-259

-3,836

4,842

-4,202

10,949

2,955

146

-147

-10,112

-8,479

-7,823

14,409

1,329

3,021

-4,868

1,847

Accounts payable

-162

2,725

-16,496

13,405

-11,367

35,219

-

-5,952

-

-8,804

9,497

9,497

7,124

3,323

7,806

-22,599

27,827

-6,134

11,373

-36,832

6,880

14,056

-1,278

-10,784

17,950

-17,849

15,155

-9,087

Billings in excess of costs

-

-

-

-

-

-

0

-

0

-

0

-

696

363

-1,129

2,415

-1,777

-3,174

-748

1,094

-7,279

-1,823

4,354

4,967

-2,065

1,176

2,807

-7,184

Deferred taxes

1,522

2,532

1,661

1,489

1,090

-2,576

-

827

-

447

827

827

34,314

-3,546

2,047

2,506

-4,975

1,873

4,162

1,103

4,098

1,802

1,433

2,071

-12,495

126

706

381

Compensation and other employee benefits

-9,733

-8,211

14,539

-3,400

6,724

-4,824

-

6,952

-

-7,738

5,788

5,788

-3,561

8,228

-13,470

12,059

-11,060

6,118

-8,553

11,687

-425

-8,937

13,030

-3,393

-1,886

-7,351

6,569

-10,577

Other liabilities

1,182

-1,694

9,519

-3,647

1,909

-1,779

-

-227

-

-3,305

3,630

3,630

-1,607

-421

210

547

-2,464

506

-4,391

-429

-8,899

-12,536

-4,454

101

-10,060

8,600

-5,227

2,874

Net Cash Provided by (Used in) Operating Activities

1,137

-891

12,998

21,836

-6,386

31,402

-

4,482

-

15,809

-11,637

-11,637

13,012

16,662

-4,178

9,914

3,134

14,202

17,597

1,685

8,836

10,225

27,048

-27,229

2,799

37,543

59,088

-56,451

Investing activities
Purchases of capital assets and intangibles

917

1,711

2,701

1,853

9,886

3,910

-

5,351

-

691

73

73

1,443

537

340

24

341

83

286

31

24

35

269

465

1,798

1,045

497

507

Proceeds from the disposition of assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

5

0

111

387

0

0

0

-

-

-

-

Payments to Acquire Businesses, Net of Cash Acquired

-

-

-

-

-

0

-

-355

-

0

37,210

37,210

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-917

-2,822

-41,264

-1,853

-9,886

-3,910

-

-4,963

-

-691

-37,283

-37,283

-1,443

-537

-340

-24

-114

179

-197

80

887

-35

-269

-465

-1,301

-1,045

-497

-507

Financing activities
Repayments of long-term debt

1,500

2,500

0

1,000

1,000

1,000

-

1,000

-

1,000

1,000

1,000

75,500

3,500

3,500

3,500

8,500

11,500

5,500

3,500

-

-

-

-

-

-

-

-

Repayments of long-term debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,625

11,250

0

-

-

-

-

Proceeds from revolver

144,000

107,500

128,000

50,000

48,000

69,000

-

83,000

-

24,000

31,000

31,000

15,000

9,500

0

18,000

0

5,000

10,000

59,000

88,500

103,000

77,500

55,000

-

-

-

-

Repayments of revolver

29,000

107,500

128,000

50,000

48,000

69,000

-

83,000

-

24,000

31,000

31,000

15,000

9,500

0

18,000

0

5,000

10,000

59,000

88,500

103,000

77,500

55,000

-

-

-

-

Proceeds from exercise of stock options

1

205

0

2,865

602

207

-

30

-

49

1,309

1,309

145

0

1,836

50

1,578

137

431

0

-

-

-

-

-

-

-

-

Proceeds from insurance financing

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

14,857

-

-

-

-

Proceeds from insurance financing

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Payments of employee withholding taxes on share-based compensation

1,787

300

0

85

683

77

-

0

-

18

785

785

705

0

35

577

336

0

24

627

542

7

28

724

229

0

0

0

Transfer to Former Parent, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1

-4,267

-56,018

53,913

Net cash provided by (used in) financing activities

111,714

-2,595

0

1,780

-1,081

-870

-

-970

-

-969

-476

-476

2,096

-3,500

-1,699

-4,027

-7,258

-11,363

-5,314

-4,127

-10,979

-9,675

-15,189

14,133

-256

-4,246

-56,018

53,913

Exchange rate effect on cash

-

-

-

-

-

-61

77

-

-1,938

-

690

-

342

1,332

2,017

175

-1,462

344

-719

989

91

642

-336

-513

-645

657

-619

-38

Exchange rate effect on cash

-1,080

-

-1,013

392

-618

-

-

77

-

-1,938

-

690

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net change in cash

110,854

-5,732

-29,279

22,155

-17,971

26,561

-

-1,374

-

12,211

-

-48,706

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net change in cash

-

-

-

-

-

-

-1,374

-

12,211

-

-48,706

-

-

13,957

-4,200

6,038

-5,700

3,362

11,367

-1,373

-1,165

1,157

11,254

-14,074

597

32,909

1,954

-3,083

Supplemental disclosure of cash flow information:
Interest paid

1,469

-

-

-

988

-

-

-

-

-

991

-

-

-

-

1,036

1,054

1,164

1,652

1,408

1,666

1,988

1,478

915

1,201

-16

9

7

Interest paid

-

-

-

-

-

-

1,122

-

-

1,128

-

991

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income taxes paid

-

-

-

-

-

-

-

3,331

-

7,693

-

198

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income taxes paid (refunded)

36

-

-

-

-296

366

3,331

-

7,693

-

198

-

1,001

1,172

2,468

161

5,470

7,104

11,174

2,320

4,967

4,895

6,197

37

2,667

0

0

0

Non-cash investing activities:
Purchase of capital assets on account

606

-

93

-665

966

-

-

893

-

481

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of capital assets on account

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1

34

-

-

143

24