VALHI INC /DE/ VHI Cash Flow

Valhi inc /de/ (VHI)

CashFlow / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11
Cash flows from operating activities:
Net income
87,700	78,200	87,600	219,400	221,600	301,000	439,000	353,900	388,600	302,600	158,500	103,600	40,800	-3,000	-56,400	-78,700	-210,400	-171,100	-121,700	-70,900	92,200	79,500	76,600	-1,800	-74,100	-126,900	-128,500	-55,800	54,400	222,100	288,700	350,000	361,300	295,000	0	0	0
Depreciation and amortization
61,000	56,800	55,700	56,300	56,700	58,400	56,400	54,700	56,900	59,000	62,600	66,200	67,100	67,500	67,700	68,600	68,600	69,900	72,800	75,000	77,200	78,400	77,600	76,700	75,400	74,500	74,800	73,500	72,300	69,400	65,900	64,800	63,900	63,800	0	0	0
Net (gain) loss from:
Sale of business
-	-	-	-	-	58,400	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Land sales
-	-	-	-	-	12,500	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Call premium and interest paid on Senior Notes redeemed
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Benefit plan expense greater than cash funding
10,900	8,900	7,000	6,200	6,300	5,700	6,300	9,300	7,600	10,500	9,300	8,000	6,500	4,600	3,600	3,200	5,200	2,900	2,200	-200	-1,600	-3,100	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income taxes
-	7,400	7,500	-101,600	-107,100	-73,500	-194,400	-72,100	-258,500	-293,200	-195,200	-206,000	-27,200	-39,100	-20,000	-27,400	77,300	85,700	93,700	113,500	12,400	10,000	-29,800	-59,600	-153,100	-114,800	-64,900	-43,500	61,200	51,500	63,900	96,600	107,900	95,300	0	0	0
Loss on prepayment of debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-8,900	0	0	0	-	-	-	-	-3,100	0	0	0
Defined benefit pension expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	600	800	2,600	400	0	0	0
Other postretirement benefit expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	600	-1,600	-1,800	-1,800	0	0	0
Contributions to TiO2 manufacturing joint venture, net
-10,700	-9,300	-3,300	-5,200	-2,300	4,000	-4,300	-9,600	2,600	-6,000	4,300	5,400	1,300	3,600	2,000	8,500	-5,500	6,500	5,000	1,500	17,300	10,600	20,100	9,900	5,600	10,900	0	0	0	-	-	-	-	3,800	0	0	0
Contract related intangible asset impairment
-	-	-	-	-	-	-	-	-	-	-	-	-	5,100	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other, net
-9,700	-7,700	-6,600	-9,200	-13,400	-13,900	0	0	0	-	-3,900	-3,800	-4,300	-1,900	1,400	-4,900	-2,900	-7,800	-14,500	-8,800	-9,700	-8,000	-2,500	-600	-4,800	-6,000	0	0	0	-	-	-	-	-1,300	0	0	0
Change in assets and liabilities:
Accounts and other receivables, net
-14,900	-8,600	9,000	36,800	16,200	11,100	17,100	34,200	60,700	47,500	76,800	72,200	57,600	47,400	21,200	-8,900	-55,200	-22,200	-53,300	-21,800	16,100	27,200	25,000	-30,900	-50,700	-22,900	96,000	-66,800	-67,300	6,700	-127,000	96,400	154,600	47,900	0	0	0
Inventories, net
2,100	8,500	14,900	84,500	99,200	137,300	117,300	69,800	34,900	5,500	2,700	-3,400	-7,100	-39,600	-71,000	-52,900	-20,500	8,400	43,000	69,900	57,300	55,100	30,600	-56,900	-305,800	-220,000	101,400	-208,700	150,900	184,600	-34,200	382,800	271,800	184,300	0	0	0
Land held for development, net
500	-1,100	-3,900	-9,100	-8,100	-7,800	-9,600	-2,300	-6,300	-6,600	-17,000	-20,800	-18,200	-18,300	-1,900	-700	-4,100	-7,100	-4,100	-3,600	3,000	6,800	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable and accrued liabilities
-45,400	-14,600	-38,400	15,100	38,500	65,700	38,900	66,800	19,800	12,900	48,500	20,400	26,100	-300	-16,500	-31,400	6,200	-14,300	-4,800	-24,500	-68,600	-26,400	32,100	79,100	55,600	73,400	12,700	-95,000	-7,000	-44,200	-3,800	147,000	74,700	96,100	0	0	0
Accounts with affiliates
4,500	1,200	6,800	13,100	-17,900	-19,500	-77,600	-60,300	-33,900	-35,200	-11,100	-14,600	-34,100	-13,800	11,900	9,400	12,000	-17,100	-500	-6,000	11,500	13,200	-9,400	6,600	-38,500	18,700	-94,800	-16,500	9,000	-65,400	88,700	-5,300	9,200	36,600	0	0	0
Income taxes
8,800	-1,400	-30,200	-44,800	-24,100	-18,200	15,400	33,800	22,300	19,500	17,500	14,900	11,900	3,700	-800	-1,200	-2,600	-900	9,300	5,000	2,500	5,400	-4,900	-9,800	-24,900	-9,600	-22,000	-22,700	-15,200	-20,000	-5,800	5,400	21,500	19,800	0	0	0
Other, net
15,500	-400	-7,600	-3,800	3,500	5,000	-2,000	8,800	23,400	14,900	-13,400	-23,800	-18,100	-12,800	-2,100	-11,600	-1,100	5,900	11,600	21,400	7,600	3,300	-12,200	-10,700	-13,500	-18,200	15,400	-2,200	-3,300	2,300	-28,200	-5,000	-4,300	5,200	0	0	0
Net cash used in operating activities
161,200	177,200	87,000	38,600	115,600	165,500	246,500	330,300	270,500	259,300	244,400	177,200	149,400	79,800	28,700	18,600	19,200	22,100	84,800	58,800	42,900	67,300	84,300	137,000	145,600	117,100	74,100	131,700	152,000	71,900	118,100	154,900	175,500	292,400	0	0	0
Cash flows from investing activities:
Capital expenditures
59,100	59,900	60,200	62,100	61,300	61,400	64,500	68,400	74,500	71,300	66,100	62,800	56,200	58,900	56,900	58,200	57,700	54,600	59,400	60,500	66,100	72,700	69,900	73,200	74,300	74,600	87,200	86,000	84,400	98,800	121,100	141,600	156,800	146,200	0	0	0
Capitalized permit costs
-	-	-	-	-	-	-	-	-	2,200	2,700	2,600	1,000	1,500	1,400	2,000	2,000	1,300	1,100	600	200	300	1,000	1,100	1,500	1,500	1,800	2,700	3,400	4,100	5,200	7,200	8,400	8,900	0	0	0
Mutual funds
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Purchases of marketable securities
4,300	4,900	5,000	3,600	1,900	4,400	5,800	7,800	10,400	9,700	13,100	12,600	12,700	11,400	9,000	11,600	9,900	13,600	16,600	14,600	17,300	16,300	13,000	11,500	8,300	7,900	11,200	12,200	15,000	11,700	0	0	0	-	0	0	0
Cash, cash equivalents and restricted cash and cash equivalents of discontinued operations at time of sale
-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from land sales
-	-	-	-	-	19,500	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from:
Titanium Metals Corporation ("TIMET") common stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Disposals of marketable securities
-	-	-	-	-	-	0	0	0	-	0	0	13,200	-	10,400	10,600	9,900	15,000	17,100	16,500	20,600	15,100	12,200	10,900	8,800	11,100	0	0	0	-	-	-	-	-	0	0	0
Proceeds from disposal of marketable securities
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Sale of business
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	300	0	0	0
Collection of real-estate related note receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,000	0	0	0	-	-	-	-	-	-	-	-
Disposal of assets held for sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,600	0	0	0	-	-	-	-	-	-	-	-
Change in restricted cash equivalents, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-4,000	-7,100	12,800	9,900	9,800	12,200	12,600	15,700	11,400	7,300	7,900	3,000	0	0	0
Other, net
0	-	-	-	-	-	0	0	0	-	-	-	600	500	0	0	0	-	-	-	-	-	-	-	100	100	-4,000	-4,300	-4,700	-7,100	-2,800	-2,700	5,100	8,000	0	0	0
Net cash used in investing activities
-47,700	-50,700	-56,200	-48,300	-47,300	-57,000	-61,100	-78,300	-88,100	-74,400	-69,400	-65,500	-57,300	-61,600	-56,100	-60,700	-58,900	-54,100	-75,400	-76,100	-60,300	-73,700	-45,200	-45,500	-64,900	-56,200	85,700	84,400	96,900	100,900	-67,800	-59,200	-84,400	-220,900	0	0	0
Cash flows from financing activities:
Indebtedness:
Borrowings
-	-	-	-	-	-	-	-	-	748,100	804,400	338,700	334,600	312,200	282,200	195,400	96,600	84,900	75,400	74,100	77,200	515,600	614,900	716,000	736,600	493,800	607,200	487,500	839,100	732,800	505,500	511,300	116,500	121,300	0	0	0
Principal payments on indebtedness
12,300	11,200	7,300	13,500	12,200	12,600	12,600	455,000	584,600	600,200	686,900	356,400	315,800	309,000	233,600	126,100	49,800	53,400	59,300	62,700	76,200	343,100	451,800	648,900	647,200	693,300	688,400	540,000	871,800	546,000	473,300	500,700	209,600	328,800	0	0	0
Deferred financing costs paid
-	-	-	-	-	-	-	-	-	9,000	0	0	0	-	-	-	-	-	-	-	-	6,100	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Valhi cash dividends paid
27,100	27,100	27,100	27,100	27,100	27,100	27,200	27,200	27,200	27,200	27,100	27,100	27,100	27,100	27,100	27,100	27,100	27,100	27,300	27,200	27,100	37,300	47,400	57,700	67,900	67,900	67,900	67,800	67,900	65,000	62,100	59,300	56,400	53,700	0	0	0
Distributions to noncontrolling interest in subsidiaries
39,900	37,600	27,100	26,900	22,500	20,100	19,400	19,000	18,500	18,100	21,700	21,600	21,600	21,600	14,600	14,700	14,700	15,000	14,100	14,200	14,200	18,900	20,100	21,000	22,000	18,200	18,400	18,500	18,600	18,600	18,500	18,500	18,600	29,300	0	0	0
Net increase (decrease)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	103,800	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Subsidiary treasury stock acquired
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	9,500	0	0	0
Issuance of subsidiary common stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Other
-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	100	0	0	0	-	-	-	-	-	-	-	0
Net cash used in financing activities
-68,500	-64,100	-64,600	-68,900	-61,800	-59,800	-59,800	62,400	55,600	93,600	60,300	-66,600	-30,000	-45,500	6,800	27,500	5,000	-10,600	-25,200	-30,000	-40,400	110,200	89,600	-18,400	-7,300	-286,200	-168,300	-141,300	-126,200	96,000	-55,600	-72,100	-173,900	-299,800	0	0	0
Cash, cash equivalents and restricted cash and cash equivalents - net change from:
Operating, investing and financing activities
45,000	62,400	-33,800	-78,600	6,500	48,700	125,600	314,400	238,000	278,500	235,300	45,100	62,100	-27,300	-20,600	-14,600	-34,700	-42,600	0	0	0	-	128,700	73,100	73,400	-225,300	-8,500	74,800	122,700	268,800	-5,300	23,600	-82,800	-228,300	0	0	0
Effect of exchange rates on cash
-3,600	-2,300	-12,800	-5,700	-22,400	-14,400	-4,800	-3,500	18,600	14,400	4,900	3,000	-5,400	-5,300	-1,100	-2,200	1,000	-8,500	-11,800	-15,800	-18,200	-10,100	-3,700	2,100	3,100	1,200	700	1,900	-700	1,700	400	-4,300	-2,700	-400	0	0	0
Supplemental disclosures:
Cash paid (received) for:
Cash paid for:
Interest, net of capitalized interest
36,900	37,900	38,400	42,400	48,200	53,900	63,600	60,300	64,000	59,300	59,300	60,700	60,400	60,600	60,300	58,500	57,300	56,600	56,300	56,000	55,400	53,900	51,600	51,700	52,800	55,000	56,700	57,800	73,000	65,500	72,200	66,400	60,500	67,000	0	0	0
Income taxes, net
26,400	33,400	67,600	91,100	61,100	68,500	56,900	41,900	71,500	62,300	50,000	38,100	21,100	20,300	5,400	5,100	4,800	10,200	12,800	20,000	36,800	33,400	31,900	26,000	22,900	15,600	22,600	33,300	45,500	71,000	90,100	97,000	86,100	73,800	0	0	0
Change in accruals for capital expenditures
9,300	9,100	4,500	6,100	5,600	5,400	7,800	6,400	7,000	9,400	7,300	7,500	9,900	8,000	8,400	9,200	7,200	6,700	0	0	0	-	-	-	4,700	4,600	11,000	9,700	14,400	16,100	15,200	16,800	19,200	23,500	0	0	0
Accrual for capitalized permit costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0
Noncash financing activities:
Trade payable to affiliate converted to indebtedness
-	-	-	-	-	36,300	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Indebtedness borrowings paid directly to lender to settle refinanced indebtedness
-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Indebtedness principal payments paid directly by lender
-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Borrowings paid directly to lender for debt issuance costs
-	-	-	-	-	-	-	-	-	900	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-