Vse corp (VSEC)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11
Cash flows from operating activities:
Net income

3,332

9,996

10,527

9,898

6,603

9,243

10,034

8,751

7,052

17,357

6,639

7,807

7,293

7,184

7,088

5,969

6,552

7,745

6,474

5,479

5,220

4,163

3,883

5,665

5,654

5,406

5,326

6,862

5,258

2,367

5,964

6,295

6,668

6,049

6,120

4,211

4,172

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

6,475

6,305

6,985

6,207

7,430

6,240

6,261

6,239

6,484

6,298

6,380

6,493

6,711

6,531

6,580

6,694

6,241

6,326

6,437

6,677

6,101

4,496

4,720

4,759

4,795

4,961

4,953

5,003

5,099

5,486

5,496

5,330

4,850

5,085

4,605

3,027

2,382

Deferred taxes

1,592

725

-918

252

-564

362

-845

-1,171

283

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred taxes

-

-

-

-

-

-

-

-

-

-

-973

-751

-223

-

-1,886

-1,032

-129

-

202

-289

-1,313

-

3,363

-1,061

249

-451

154

-529

-48

-2,374

-1,665

455

2,331

861

342

-999

1,079

Stock-based compensation

897

672

610

342

1,640

881

470

413

1,263

1,133

471

380

1,084

362

386

333

1,028

383

282

628

788

129

122

440

1,048

403

266

240

667

384

225

282

185

641

479

143

164

Loss on sale of a business entity and certain assets

-7,536

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on sale of property and equipment

1,127

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Earn-out obligation adjustment

-301

-

-

-

0

-

-

-

-

-

-

-

-

0

0

-55

1,384

609

-508

-217

-310

-301

-1,971

-613

-174

-75

-50

219

-277

-192

3,816

161

552

953

578

955

0

Changes in operating assets and liabilities, net of impact of acquisitions:
Receivables

163

951

-4,219

9,266

-2,667

4,492

393

-2,109

978

16,245

-9,742

-1,466

-4,946

4,530

-4,911

14,140

-1,593

2,872

-923

-3,005

9,195

-4,448

1,705

-10,802

-5,451

5,727

-9,312

-676

-9,869

-17,246

-2,529

-558

-4,718

3,127

-39,073

-34,384

19,007

Unbilled receivables

2,041

-8,303

8,190

1,511

3,195

6,592

-1,694

3,985

-13,589

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Unbilled receivables, net

-

-

-

-

-

-

-

-

-

-

-

-

-5,725

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Inventories

8,255

14,679

5,598

16,144

7,798

-890

2,096

15,457

18,895

-2,934

-287

-5,310

4,782

7,405

11,562

3,740

4,510

1,560

29

7,494

1,298

2,376

2,879

3,683

1,110

-948

-1,028

644

-908

-1,814

250

665

464

1,951

1,726

1,081

0

Other current assets and noncurrent assets

-2,777

6,924

-3,433

-2,778

6,692

-1,271

709

-1,058

-3,169

-7,073

13,117

-4,715

-5,010

5,005

2,253

432

5,330

-1,921

-2,667

-2,184

741

-1,933

1,534

-1,369

2,395

-2,378

3,229

187

2,760

-6,300

1,082

-3,428

2,708

-3,611

2,500

8,987

-4,456

Accounts payable and deferred compensation

395

-4,068

-2,356

11,496

2,653

7,567

-8,808

-17,845

11,681

18,854

-2,930

-18,556

-20,955

35,092

4,177

2,377

13,097

2,873

-2,514

525

-1,246

-3,653

7,630

-7,544

2,343

5,215

-418

-1,638

-1,237

-13,881

7,048

-1,122

-9,324

-897

-16,639

-793

-13,267

Accrued expenses and other current liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,074

1,563

-1,521

991

-2,057

4,034

-1,817

-202

-2,612

-4,880

1,566

619

976

-5,373

204

-610

-6,966

Accrued expenses and other current and noncurrent liabilities

-4,961

-724

4,675

-1,069

-1,675

495

3,558

3,381

-9,949

-8,354

16,021

3,746

-3,851

-4,386

6,147

3,921

-1,429

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Long-term lease obligations

-

-

-

-

-

431

421

410

406

336

375

360

307

362

311

282

337

349

345

301

280

272

268

253

314

1,061

265

255

245

-443

949

-102

102

108

9

-36

10

Other liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

648

115

114

115

103

127

2,310

-2,432

Net cash provided by operating activities

6,758

555

13,387

2,983

1,069

15,434

7,045

-16,917

13,293

10,909

20,474

18,386

651

18,801

13,277

-277

15,392

19,072

14,572

4,510

-580

9,997

13,782

12,098

13,838

16,956

15,475

8,991

15,176

18,759

19,120

15,235

6,693

3,941

29,498

1,564

-307

Cash flows from investing activities:
Purchases of property and equipment

724

1,941

1,386

5,702

601

595

642

827

1,053

1,356

1,135

838

414

1,108

1,214

2,796

1,428

2,743

2,607

1,828

3,384

689

897

969

859

1,157

770

858

1,631

9,228

494

2,521

8,620

2,815

1,719

1,197

904

Proceeds from the sale of property and equipment

2,424

0

0

1

3

71

5

46

0

-

-

-

-

69

46

22

6

234

46

20

207

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from the sale of a business entity and certain assets

21,127

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash paid for acquisitions, net of cash acquired

0

521

0

0

112,660

0

0

0

0

-

-

-

-

-

-

-

-

3,954

2,410

0

188,771

0

0

0

0

-

-

-

-

0

0

0

4,607

12

1

174,932

0

Earn-out obligation payments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

270

Net cash provided by (used in) investing activities

22,827

-2,462

-1,386

-5,701

-113,258

-524

1,063

-781

-1,053

-1,313

-846

-438

-414

-1,039

-1,231

-2,774

-1,422

-6,463

-4,971

-1,808

-191,948

-689

-897

-969

-859

-1,157

-770

-858

-1,631

-9,228

-494

-2,521

-13,227

-2,827

-1,720

-175,859

-1,174

Cash flows from financing activities:
Borrowings on loan agreement

131,148

369,758

81,775

106,128

194,598

70,522

109,395

111,885

247,669

90,018

76,984

85,549

96,124

90,491

97,860

83,580

49,699

83,936

83,781

51,125

300,471

84,961

68,513

69,751

72,288

72,840

78,260

69,792

69,245

61,246

60,518

88,008

59,616

59,830

96,956

235,856

78,661

Repayments on loan agreement

127,692

367,224

92,453

102,333

80,183

84,915

115,987

93,166

256,368

98,372

95,771

102,267

94,875

107,438

98,596

71,544

62,468

95,151

81,077

52,645

104,349

93,578

78,648

80,241

84,134

88,031

92,109

78,479

82,008

69,858

71,174

99,931

52,446

60,036

124,673

59,811

80,328

Earn-out obligation payments

31,701

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-660

7,133

0

314

-

-

-

-

Payment of debt financing costs

-

-

-

-

-

0

10

-106

1,798

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of debt financing costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

419

2,280

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Payments on financing lease obligations

-

-

-

-

-

375

370

361

346

333

327

320

307

293

289

282

264

-

251

246

233

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments of taxes for equity transactions

543

0

0

268

687

0

0

0

641

0

0

0

500

0

0

0

499

0

0

1

341

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on capital lease obligations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

201

-

181

183

173

188

-10

347

37

0

0

0

0

Payments of taxes for equity transactions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

314

-

0

0

257

-

-

-

-

-

-

-

-

Dividends paid

988

988

988

878

872

869

871

763

759

757

759

650

650

647

648

595

591

592

591

540

535

535

536

482

481

480

481

426

424

424

423

370

368

367

366

314

313

Net cash (used in) provided by financing activities

-29,776

1,546

-11,666

2,649

112,856

-15,637

-7,843

17,701

-12,243

-9,444

-19,873

-17,688

-208

-17,887

-12,173

3,144

-14,123

-12,063

-9,851

-2,726

192,733

-9,373

-12,859

-11,184

-12,842

-15,859

-14,691

-9,296

-13,617

-8,896

-18,202

-12,640

6,451

-979

-28,110

172,640

-1,980

Net increase in cash and cash equivalents

-191

-361

335

-69

667

-727

265

3

-3

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net (decrease) increase in cash and cash equivalents

-

-

-

-

-

-

-

-

-

-

-245

260

29

-125

-127

93

-153

546

-250

-24

205

-65

26

-55

137

-60

14

-1,163

-72

635

424

74

-83

135

-332

-1,655

-3,461