Verra mobility corporation (VRRM)
CashFlow / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17May'17Mar'17
Net income

37,196

33,343

-13,791

-25,030

-33,416

-58,394

-1,910

-8,715

-2,831

19,478

0

-

0

0

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

115,877

115,566

115,008

115,103

113,735

103,346

0

0

0

-

-

-

-

-

Amortization of deferred financing costs and discounts

5,711

6,641

7,301

8,542

9,357

9,168

0

0

0

-

-

-

-

-

Credit loss expense

12,186

8,100

7,017

6,324

6,155

6,025

0

0

0

-

-

-

-

-

Deferred income taxes

-10,503

-10,894

-17,347

-25,054

-18,703

-24,435

0

0

0

-

-

-

-

-

Stock-based compensation

10,637

10,012

0

0

0

-

-

-

-

-

-

-

-

-

Loss on extinguishment of debt

-

-

-

-

-

-

-

-

0

-

-

-

-

-

Installation and service parts expense

1,302

1,166

1,861

1,637

1,370

1,238

0

0

0

-

-

-

-

-

Accretion expense

324

350

373

385

389

396

0

0

0

-

-

-

-

-

(Gain) loss on disposal of assets

0

-

-

-

0

-

-

-

-

-

-

-

-

-

Write-downs of installation and service parts and (gain) loss on disposal of assets

-

-

-

-

-

7

0

0

0

-

-

-

-

-

Changes in operating assets and liabilities:
Accounts receivable, net

26,687

12,662

39,371

41,664

28,479

23,721

0

0

0

-

-

-

-

-

Unbilled receivables

-1,017

6,428

497

-1,277

5,750

6,124

0

0

0

-

-

-

-

-

Prepaid expenses and other current assets

3,256

7,150

10,607

1,305

-1,726

-2,115

0

0

0

-

-

-

-

-

Other assets

-

-

-

-

-

-

0

0

0

-

-

-

-

-

Accounts payable and accrued liabilities

-37,970

-8,194

17,732

12,816

22,086

7,125

0

0

0

-

-

-

-

-

Other liabilities

-639

-2,151

-4,828

-3,592

-3,247

513

0

0

0

-

-

-

-

-

Changes in receivable - related party

-

-

-

-

-

-

-

-

-

-0

0

0

-

0

Changes in state franchise tax accrual

-

-

-

-

-

-

-

-

-

130

0

0

-

0

Changes in prepaid assets

-

-

-

-

-

-

-

-

-

135

0

0

-

0

Changes in deferred offering costs

-

-

-

-

-

-

-

-

-

-

-

0

-

0

Changes in accrued expenses, formation and offering costs

-

-

-

-

-

-

-

-

-

-216

0

0

-

0

Net cash provided by operating activities

111,292

133,802

95,549

79,264

86,564

46,017

94,662

20,845

46,888

50,144

0

-

0

0

Cash Flows from Investing Activities:
Acquisition of businesses, net of cash and restricted cash acquired

-

-

-

-

-

536,699

0

0

0

-

-

-

-

-

Purchases of installation and service parts and property and equipment

28,607

29,685

24,446

29,659

29,910

26,576

0

0

0

-

-

-

-

-

Cash proceeds from the sale of assets

0

-

-

-

0

-

-

-

-

-

-

-

-

-

Cash proceeds from the sale of assets and insurance recoveries

-

-

-

-

-

-

-

0

0

-

-

-

-

-

Cash deposited in Trust Account

-

-

-

-

-

-

-

-

-

400,000

0

0

-

0

Interest reinvested in Trust Account

-

-

-

-

-

-

-

-

-

2,735

0

0

-

0

Net cash used in investing activities

-53,937

-54,973

-35,356

-40,567

-34,583

-562,857

-705,258

-1,090,004

-699,427

-562,322

0

-

0

0

Cash Flows from Financing Activities:
Successor borrowings on revolver

-

-

-

-

-

468

0

0

0

-

-

-

-

-

Successor repayment on revolver

-

-

-

-

-

468

0

0

0

-

-

-

-

-

Successor borrowings of long-term debt

-

-

-

-

-

1,103,800

0

0

0

-

-

-

-

-

Repayment of long-term debt

28,779

9,104

209,103

208,928

208,752

654,851

0

0

0

-

-

-

-

-

Payment of debt issuance costs

1,195

426

1,700

2,393

2,548

31,753

0

0

0

-

-

-

-

-

Payment of debt extinguishment costs

-

-

-

-

-

12,187

0

0

0

-

-

-

-

-

Payment of employee tax withholding related to RSU vesting

0

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of Units in initial public offering

-

-

-

-

-

-

-

-

-

400,000

0

0

-

0

Proceeds from sale of Private Placement Warrants to Sponsor

-

-

-

-

-

-

-

-

-

10,000

0

0

-

0

Repayment of notes and advances payable related party

-

-

-

-

-

-

-

-

-

150

0

0

-

0

Payment of underwriter's discounts and commissions

-

-

-

-

-

-

-

-

-

8,000

0

0

-

0

Payment of accrued offering costs

-

-

-

-

-

-

-

-

-

719

0

0

-

0

Net cash used in financing activities

-35,291

-14,520

24,456

23,938

23,959

574,268

669,798

1,101,360

674,729

528,243

0

-

0

0

Effect of exchange rate changes on cash and cash equivalents

-159

1,040

0

0

0

-

-

-

-

-

-

-

-

-

Net (decrease) increase in cash, cash equivalents and restricted cash

21,905

65,349

84,044

62,296

75,320

56,572

58,608

31,694

22,191

16,065

0

-

0

0

Supplemental cash flow information:
Interest paid

53,129

55,197

57,511

60,739

68,586

60,441

0

0

0

-

-

-

-

-

Income taxes paid (refunded), net

29,386

24,357

23,775

15,361

-4,269

762

0

0

0

-

-

-

-

-

Supplemental non-cash investing and financing activities:
Reduction to tax receivable agreement liability

-

2,940

0

0

0

-

-

-

-

-

-

-

-

-

Earn-out shares issued to Platinum Stockholder

0

-

-

-

-

-

-

-

-

-

-

-

-

-

Additions to ARO, property and equipment, and other

0

-

0

0

0

-

-

-

-

-

-

-

-

-

Purchases of installation and service parts and property and equipment in accounts payable and accrued liabilities at period-end

4,706

4,204

8,060

4,035

4,254

3,179

0

0

0

-

-

-

-

-

Capital contributions received in Parent common stock

-

-

-

-

-

117,555

0

0

0

-

-

-

-

-

Payable to HTA sellers in connection with business acquisition

-

-

-

-

-

-

0

0

0

-

-

-

-

-

Deferred underwriting compensation

-

-

-

-

-

-

-

-

-

14,000

0

0

-

0

Offering costs included in accrued expenses

-

-

-

-

-

-

-

-

-

-

-

0

-

0