Valmont Industries, Inc. VMI Cash Flow

Valmont industries, inc. (VMI)

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	Dec'10	Sep'10	Jun'10	Mar'10
Cash flows from operating activities:
Net earnings
165,109	159,466	140,219	104,947	96,904	100,306	80,521	110,196	122,838	122,319	195,206	188,061	184,181	178,391	77,972	62,000	47,997	45,333	116,113	127,849	164,262	189,318	199,813	233,419	258,883	280,460	295,074	294,625	264,468	238,916	290,137	276,109	262,941	237,226	156,187	139,508	110,651	100,413	0	0	0
Adjustments to reconcile net earnings to net cash flows from operations:
Depreciation and amortization
82,354	82,264	81,233	81,753	81,902	82,827	83,475	84,860	85,308	84,957	84,675	83,367	82,646	82,417	81,527	84,187	87,841	91,144	95,727	93,721	93,628	89,328	84,479	82,618	77,829	77,436	75,373	74,037	72,086	70,218	73,629	73,057	74,735	74,560	71,027	70,953	65,619	59,663	0	0	0
Noncash loss on trading securities
227	172	48	263	46	62	220	-278	-238	-237	-8	261	339	-586	-508	-1,008	-1,135	-4,555	-3,956	-4,876	-4,824	-3,795	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment of assets - restructuring activities
-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Stock-based compensation
11,242	11,587	11,205	11,388	11,287	10,392	11,482	11,490	10,987	10,706	10,659	10,320	10,376	9,931	8,149	7,932	7,532	7,244	6,953	6,557	6,611	6,730	6,958	6,857	6,718	6,513	6,311	6,104	5,941	5,829	6,486	6,380	6,182	5,931	6,404	6,604	6,867	7,154	0	0	0
Defined benefit pension plan benefit
-2,144	-513	-920	-1,351	-1,789	-2,251	-1,546	-825	-100	648	865	1,225	1,640	1,870	1,336	654	-76	-610	175	999	1,826	2,638	3,702	4,658	5,598	6,569	6,075	5,476	4,893	4,281	3,981	4,537	4,973	5,449	0	0	0	-	-	-	-
Contribution to defined benefit pension plan
21,557	18,461	17,408	14,488	14,749	1,537	15,736	15,597	15,597	40,245	26,840	26,155	26,867	1,488	1,477	1,477	765	16,500	15,663	16,424	16,424	18,173	19,109	24,757	24,757	17,619	16,755	11,187	11,187	11,591	0	0	0	-	-	-	-	-	-	-	-
Change in restricted cash - pension plan trust
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
(Gain) loss on sale of property, plant and equipment
2,233	2,513	337	216	172	225	3,545	4,147	4,102	3,924	351	507	-385	-631	-1,314	-2,859	-2,607	-2,327	-1,597	-1,036	-383	-392	-800	-651	4,379	4,318	4,552	4,586	-256	-321	-801	-768	-625	-693	-1,395	-2,841	-3,206	-3,203	0	0	0
Equity in loss in nonconsolidated subsidiaries
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Equity in earnings in nonconsolidated subsidiaries
-	-	-	-	-	-	-	-	-	-	-	0	0	0	-247	-247	-247	-247	0	0	0	-	-	-	-	835	1,365	2,826	4,644	6,128	8,861	9,679	8,793	8,059	4,961	3,675	3,279	2,439	0	0	0
Deferred income taxes
2,455	3,940	4,625	1,551	3,184	-1,659	40,490	34,908	30,509	39,755	-22,072	-18,553	-15,379	-23,685	-1,893	7,128	5,453	4,858	14,502	166	13,338	5,251	-12,900	-382	-9,377	-10,141	6,382	3,447	-704	3,720	-77,355	-79,220	-85,009	-84,962	-1,783	-2,351	3,061	5,017	0	0	0
Other
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Changes in assets and liabilities:
Receivables
-3,716	-5,408	7,934	17,726	42,647	-12,571	10,140	-10,968	6,589	49,112	31,398	27,736	8,451	-24,622	-61,152	-20,698	-52,027	-50,267	-26,409	-12,335	12,177	-907	31,902	-11,706	46	12,708	38,984	18,299	43,182	84,890	22,487	56,289	30,282	17,430	49,353	50,785	61,298	51,793	0	0	0
Inventories
-10,878	-12,313	-24,578	11,545	19,812	13,774	48,901	53,071	23,826	57,442	18,593	7,089	38,256	11,461	5,670	-1,707	-22,315	-3,296	-163	12,912	-32,328	-21,458	-23,853	-22,546	-5,910	-13,431	-8,320	-32,394	2,971	13,613	55,814	88,408	119,854	118,866	81,628	50,525	14,927	-22,321	0	0	0
Prepaid expenses and other assets
-1,574	-4,413	7,013	15,231	13,869	11,048	12,369	9,506	905	6,214	3,632	2,958	12,633	1,925	5,055	-9,072	-6,800	-10,844	-10,863	-1,608	-508	13,594	8,026	8,264	2,247	-4,115	2,141	607	491	-1,243	2,321	2,474	348	4,042	2,076	1,324	1,844	-4,365	0	0	0
Contract asset - costs and profits in excess of billings
25,846	29,274	7,753	19,420	12,757	32,932	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable
-6,826	-21,410	-1,673	25,132	27,259	-1,486	-8,559	10,045	-4,168	39,405	40,337	9,389	12,845	104	-18,975	-354	-4,161	-6,805	-12,407	-10,709	-23,111	-34,321	-9,795	-16,921	5,280	12,448	-5,053	-7,489	-6,107	-6,249	8,820	5,719	14,240	42,637	55,584	26,636	24,211	-872	0	0	0
Accrued expenses
143,004	108,784	122,662	73,039	11,041	49	-14,867	-17,773	-22,425	-1,998	4,678	6,681	8,991	-12,207	4,822	1,713	7,064	8,918	516	-10,794	-10,213	-34,778	-23,159	-11,633	9,617	21,698	21,582	24,177	10,249	20,640	16,350	20,698	15,879	11,845	-15,288	-18,685	-8,245	-7,542	0	0	0
Other noncurrent liabilities
-4,011	-1,274	-14,202	-15,990	-11,562	-10,888	-6,850	-9,681	-7,400	-7,228	-25,747	-22,234	-22,445	-23,880	-2,411	-3,198	-4,271	-1,764	9,051	1,750	1,888	1,755	-10,393	-1,581	-1,053	-1,474	-1,117	-2,069	-3,538	-4,350	-2,112	-1,887	-4,073	-5,881	-15,344	-12,896	-1,928	-598	0	0	0
Income taxes refundable
4,346	-6,944	-3,852	-6,782	-12,020	-4,139	-6,383	-5,208	4,228	1,108	1,431	506	-1,906	7,994	-2,233	806	3,715	7,107	-2,930	-1,923	-43,157	-39,803	-4,887	-13,558	-1,156	-3,305	-20,630	-16,970	-10,488	-21,250	-16,319	-10,568	22,506	22,430	12,561	13,514	9,587	7,847	0	0	0
Net cash flows from operating activities
362,053	307,614	324,185	212,787	127,873	153,008	79,365	131,076	142,781	133,148	227,402	208,628	175,708	232,820	216,699	233,844	297,266	272,267	274,221	200,590	207,707	174,096	230,034	312,700	353,747	396,442	328,520	376,227	274,581	197,097	203,238	126,219	131,112	149,671	130,996	118,153	138,639	152,220	0	0	0
Purchase of property, plant and equipment
99,896	97,425	95,047	89,479	76,846	71,985	64,287	60,899	57,346	55,266	55,585	58,084	58,127	57,920	53,254	46,729	42,814	45,468	44,058	50,790	66,112	73,023	95,093	99,486	108,434	106,753	113,446	112,111	98,785	97,074	95,403	94,379	90,594	83,069	62,175	52,978	44,146	36,092	0	0	0
Proceeds from sale of assets
5,818	5,556	-358	-824	62,811	63,103	71,396	71,688	8,597	8,185	2,763	4,189	5,286	5,126	3,931	3,975	3,206	3,249	3,638	2,439	1,283	2,489	125	-321	9,558	37,582	39,992	40,212	35,395	6,025	6,400	6,118	3,652	3,706	3,200	13,746	11,390	11,387	0	0	0
Acquisitions, net of cash acquired
33,539	81,841	99,552	215,561	195,326	143,020	125,309	14,662	10,162	5,362	0	0	0	-	-	-	-	-	-	-	-	185,710	147,438	130,483	128,921	63,152	0	0	0	-	-	-	-	-	-	-	-	249,057	0	0	0
Proceeds from settlement of net investment hedge
-	-	-	-	-	1,621	1,621	-8,625	-4,260	-5,123	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other, net
-776	-545	-2,566	433	1,807	1,922	1,204	-2,576	2,362	2,295	893	1,114	-352	255	1,978	678	-1,574	-6,826	-2,369	-8,217	-3,301	619	-2,363	2,205	3,177	-602	-1,195	1,926	-160	-44	3,874	3,272	1,487	3,161	-9,780	-11,481	-9,501	-11,049	0	0	0
Net cash flows from investing activities
-121,826	-168,150	-181,207	-295,113	-211,926	-155,445	-121,025	-2,918	-57,013	-49,615	-53,954	-49,886	-52,489	-53,049	-64,079	-56,210	-50,812	-48,171	-86,323	-105,361	-126,755	-256,863	-240,043	-232,495	-230,974	-131,721	-171,098	-172,664	-163,631	-136,692	-93,467	-91,533	-89,968	-84,063	-59,750	-33,037	-557	-262,713	0	0	0
Cash flows from financing activities:
Proceeds from short-term agreements
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments on short-term agreements
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Borrowings (payments) under short-term agreements
-	-	-	-	-	10,543	3,181	-86	-564	-585	-621	-3,162	-1,354	-200	-659	-4,370	-12,656	-12,853	-15,729	-8,501	739	-4,472	1,006	1,029	2,027	5,510	1,171	-1,483	530	1,828	4,642	6,469	2,607	2,698	-3,472	1,233	-801	-3,075	0	0	0
Proceeds from long-term borrowings
31,000	31,000	45,719	45,014	261,655	251,655	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	39,126	103,126	129,188	257,832	277,832	214,512	188,450	323,680	491,680	0	0	0
Principal payments on long-term borrowings
762	10,768	19,817	272,082	272,136	262,191	253,181	948	921	887	1,101	1,781	2,001	2,006	32,783	36,100	69,094	69,098	38,677	391,256	358,019	357,858	357,142	547	638	591	792	635	36,545	39,564	123,291	143,247	267,240	271,245	202,248	217,287	190,286	183,285	0	0	0
Cash restricted for acquisitions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Dividends paid
32,508	32,642	32,865	33,148	33,429	33,726	33,891	33,952	33,927	33,862	33,835	33,868	33,927	34,053	34,253	34,499	34,842	35,357	35,794	36,972	34,823	32,443	30,054	26,820	26,119	25,414	24,707	23,996	22,754	21,520	20,290	19,062	18,636	18,227	17,815	17,406	17,002	16,588	0	0	0
Dividends to noncontrolling interest
12,241	7,737	7,867	6,662	6,612	7,055	7,516	7,637	6,533	5,674	4,306	3,904	3,360	2,938	2,838	2,888	1,344	2,634	3,902	3,248	3,858	2,919	1,340	1,340	642	1,767	2,332	2,332	2,989	1,944	0	0	0	-	-	-	-	-	-	0	0
Purchase of noncontrolling interest
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of treasury shares
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0
Purchase of treasury shares
73,975	62,915	83,058	109,156	109,436	114,805	86,919	43,999	14,790	0	7,219	25,179	36,861	53,800	67,344	76,584	113,022	168,983	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	4,802	18,561	17,358	17,434	876	0	0	0
Purchase of noncontrolling interest
-	-	-	-	-	5,510	5,510	5,510	5,510	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from exercises under stock plans
12,505	13,619	4,192	3,390	5,559	7,357	29,089	30,702	29,237	35,159	17,090	15,346	18,758	11,153	8,682	9,596	12,604	13,075	12,650	12,030	8,472	14,572	14,108	14,246	12,511	16,348	17,364	20,772	25,294	21,827	20,876	18,228	12,245	20,008	19,733	18,200	18,654	4,464	0	0	0
Excess tax benefits from stock option exercises
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,288	1,699	1,806	2,082	2,313	4,264	4,592	8,577	7,376	5,306	5,912	2,588	3,586	5,494	4,446	3,711	2,508	3,033	3,341	3,338	3,670	2,021	0	0	0
Purchase of common treasury shares—stock plan exercises
12,245	12,989	3,131	2,647	2,832	3,589	24,146	24,874	24,795	26,161	4,781	3,908	4,956	2,305	3,172	4,817	11,917	13,854	14,799	13,909	8,985	15,403	14,202	14,489	12,306	16,107	16,787	20,775	25,887	21,259	0	0	0	-	-	-	-	-	-	-	-
Net cash flows from financing activities
-145,965	-98,950	-108,062	-382,837	-165,451	-162,110	-146,746	146,548	-57,803	-32,010	-34,773	-56,456	-74,644	-95,158	-112,135	-125,366	-160,983	-220,005	-286,779	-196,207	-212,558	-139,756	-68,354	-117,161	-38,456	-37,380	-19,941	-27,540	-22,982	-16,355	-31,601	-20,476	-55,917	-45,911	-52,030	-97,139	91,900	269,685	0	0	0
Effect of exchange rate changes on cash and cash equivalents
-10,854	-182	-3,338	-481	-18,922	-15,048	-10,546	-1,424	25,398	27,682	6,524	2,674	-9,989	-20,087	-3,961	-25,445	-16,123	-26,596	-40,486	-37,426	-38,223	-19,604	-12,788	2,406	-16,118	-27,764	-21,192	-13,927	-7,540	7,185	12,002	-12,619	-3,930	-3,707	-5,458	24,440	18,302	6,926	0	0	0
Net change in cash and cash equivalents
83,408	40,332	31,578	-465,644	-268,426	-179,595	-198,952	273,282	53,363	79,205	145,199	104,960	38,586	64,526	36,524	26,823	69,348	-22,505	-139,367	-138,404	-169,829	-242,127	-91,151	-34,550	68,199	199,577	116,289	162,096	80,428	51,235	90,172	1,591	-18,703	15,990	13,758	12,417	248,284	166,118	0	0	0