Wesco aircraft holdings, inc (WAIR)
CashFlow / Quarterly
Sep'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'11Dec'10
Operating activities
Net income (loss)

-11,048

14,114

12,010

6,293

7,274

10,754

15,000

-374

-38,287

-229,608

17,442

13,107

23,261

24,016

23,492

20,609

-213,999

16,479

23,046

19,730

24,648

28,772

24,312

24,370

29,972

27,026

29,388

18,426

26,981

22,293

19,723

23,178

18,029

13,961

21,938

21,670

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

8,049

7,162

7,067

7,098

7,347

7,368

7,285

7,256

7,540

7,340

6,743

6,729

7,137

6,790

7,056

6,997

7,911

6,553

6,680

6,582

13,303

4,011

2,437

1,651

6,428

1,643

1,646

1,663

1,658

924

922

923

925

926

925

923

Depreciation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,903

1,791

1,400

-

1,133

1,157

1,253

1,404

1,346

1,327

1,459

1,673

1,405

1,596

1,185

Amortization of deferred debt issuance costs

1,286

1,304

1,306

1,304

1,400

1,389

1,403

1,508

964

1,013

921

3,202

1,483

1,391

925

828

1,092

1,104

1,139

1,019

1,243

887

646

524

630

791

703

5,664

602

601

602

998

1,136

8,355

853

1,072

Bad debt and sales return reserve

-9

24

89

119

-283

-16

365

154

477

105

-815

458

-851

-730

397

374

-3,205

1,548

984

1,027

116

253

615

-19

347

505

-423

-18

280

-130

-278

-90

-92

388

81

-121

Non-cash foreign currency exchange

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

683

713

1,555

-

-520

-327

-230

-422

86

-139

39

158

283

-437

423

Stock-based compensation expense

1,885

2,360

2,114

2,944

2,966

2,598

1,873

1,815

1,377

671

2,597

2,690

2,084

2,120

2,092

2,194

874

2,367

2,440

2,210

1,096

1,356

1,527

1,528

682

837

888

987

478

457

26

665

2,254

494

546

364

Inventory Write-down

4,255

-4,076

-2,524

5,045

5,824

6,156

377

4,443

3,791

3,764

3,179

2,166

-

-

-

-

83,361

2,750

4,873

4,068

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefit related to stock-based incentive plans

-

-

-

-

-

-

-

-

-

-

-

-

-

0

712

84

153

139

46

105

98

3,446

4,141

2,550

3,759

2,115

264

741

-

-

-

-

-

-

-

-

Change in fair value of derivative

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

374

595

734

817

1,254

1,355

1,532

Income from equity investment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

172

176

96

152

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes

4,281

-10

-2

-12

8,649

-58

-12

593

41,161

-62,793

71

491

8,972

2,090

419

1,731

-127,042

-4

-29

40

4,130

-252

2,028

2,367

-830

4,451

3,643

2,677

8,873

7,726

1,947

2,070

5,276

1,651

2,130

2,119

Other non-cash items

-72

845

-640

351

-63

1,045

-462

95

-906

-517

-1,150

1,139

-272

2,098

1,297

979

-7,391

2,858

-1,705

2,747

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Subtotal

-141,113

22,999

20,700

22,440

-171,606

27,146

26,753

15,300

-200,202

32,123

31,288

27,704

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in assets and liabilities:
Accounts receivable

-4,821

16,192

20,271

13,858

-18,615

16,046

32,982

-2,020

-7,441

-3,629

17,442

2,159

-6,389

-12,393

37,064

-14,205

-25,147

-6,245

-1,311

-11,138

63

-20,427

56,642

2,267

4,628

126

20,875

1,343

3,335

8,368

6,847

3,252

-2,347

-4,175

4,281

10,522

Income tax receivable

854

-787

580

789

-549

96

-514

-577

2,245

-6,246

486

5,674

1,274

50

-6

-49

-3,320

-1,062

-7,350

-4,304

2,263

-9,273

-5,069

-6,924

-13,444

-11,409

-7,208

-3,891

9,277

5,721

8,832

-5,808

-

-

-

-

Inventories

-13,205

-15,007

-24,787

33,575

-3,778

10,302

33,622

32,960

29,064

32,640

23,733

44,335

16,545

9,732

-8,979

24,500

-12,943

7,928

3,010

50,982

20,975

12,185

-1,246

40,788

27,540

17,247

20,452

16,034

9,196

5,075

12,691

5,382

2,576

-5,044

122

2,475

Prepaid expenses and other assets

-998

-123

23

6,576

1,243

-4,108

-569

3,069

4,135

-799

660

1,993

852

-8,680

918

8,114

-1,549

-624

-2,314

3,237

-6,625

-480

-1,915

3,221

-1,553

865

1,138

2,885

-358

214

567

2,008

581

-2,135

-1,290

1,456

Accounts payable

3,533

33,587

-4,535

4,348

-12,552

-560

31,997

-22,315

7,876

-4,895

7,554

-8,334

13,191

11,402

-6,247

16,311

-18,330

1,958

-11,861

18,241

11,716

-12,088

9,395

-5,924

5,674

-691

19,807

-5,460

7,078

-98

12,174

2,682

8,044

-8,874

5,464

-10,192

Accrued expenses and other liabilities

7,434

2,536

2,462

-5,868

4,604

8,614

-2,192

8,226

4,856

6,184

-5,287

6,008

-4,910

2,297

128

-8,523

3,808

334

-931

214

2,449

-6,151

3,821

-8,949

2,266

750

3,072

-5,017

2,403

4,586

1,507

-6,663

2,628

702

1,889

-2,813

Income tax payable

-914

-3,132

3,506

1,431

-10,026

3,980

2,934

2,341

3,217

-10,529

3,089

697

-2,906

-6,802

6,906

-10,434

9,053

4,462

2,286

-33

341

2,635

-953

458

-80

-3,113

3,225

788

-455

617

-1,859

2,643

-341

140

-8,569

4,707

Gain on fixed asset disposal

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

23

-5

-10

-339

-

-

-

-

Net cash provided by (used in) operating activities

37,058

55,715

26,046

-32,447

36,933

16,844

-6,029

-29,880

5,918

917

-5,677

-28,086

50,862

51,767

4,162

10,664

57,319

34,381

38,155

11,317

51,241

36,139

-7,640

-26,051

27,928

24,908

27,912

4,081

8,553

18,489

4,930

22,597

35,299

27,361

21,151

2,506

Investing activities
Payments to Acquire Property, Plant, and Equipment

4,640

8,485

5,756

2,240

1,657

1,100

1,574

1,335

2,092

2,622

2,893

1,316

2,831

3,928

6,071

1,162

4,981

1,738

1,613

1,299

2,617

4,727

1,320

1,853

6,038

655

592

597

-1,546

4,882

548

644

1,128

1,230

2,527

234

Proceeds from sales of property, plant and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-22

0

2,759

-

-

-

-

Acquisitions of business, net of cash acquired

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

250

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-4,640

-8,485

-5,756

-2,240

-1,657

-1,100

-1,574

-1,335

-2,092

-2,622

-2,893

-1,316

-2,831

-3,928

-4,071

-1,162

-4,964

-1,738

-1,613

-1,549

-3,158

-4,972

-561,520

-1,853

-6,038

-655

-592

-597

-133,085

-4,904

-548

2,115

-1,128

-1,230

-2,527

-234

Financing activities
Proceeds from short-term borrowings

38,000

10,000

17,000

30,000

0

7,500

14,000

46,000

17,000

10,000

25,000

25,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of short-term borrowings

70,000

39,000

24,000

10,000

27,500

7,000

7,000

27,000

10,000

0

7,000

5,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of long-term debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

625,000

-

-

-

-

-

-

-

-

Repayments of long-term debt

5,000

5,000

5,000

5,000

5,000

5,000

5,000

5,000

5,000

5,000

5,000

6,344

35,000

46,000

25,000

5,000

50,000

54,750

30,000

15,000

-

-

-

-

10,000

23,500

13,500

636,000

0

0

0

25,000

28,000

637,243

0

14,000

Debt issuance costs

0

0

0

0

0

0

0

1,900

0

57

2,277

10,462

0

50

2,076

0

-

-

-

-

-

-

-

-

-1

1

0

7,274

-

-

-

-

-

-

-

-

Repayments of capital lease obligations

847

650

689

755

794

861

799

547

829

602

346

330

272

396

-81

722

295

427

386

403

391

371

303

273

236

256

313

341

425

522

516

521

450

573

488

387

Excess tax benefit related to stock-based incentive plans

-

-

-

-

-

-

-

-

-

-

-

-

302

0

712

84

153

139

46

105

98

3,446

4,141

2,550

3,759

2,115

264

741

-

-

-

-

-

-

-

-

Net proceeds from exercise of stock options

0

25

0

12

15

29

34

0

-1

0

688

2,277

-53

2,648

3,328

150

38

367

240

178

438

2,850

4,182

2,173

2,717

4,184

1,207

1,787

-

-

-

-

-

-

-

-

Settlement on restricted stock tax withholding

1,758

14

0

428

1,195

26

74

26

808

264

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash (used in) provided by financing activities

-39,605

-34,639

-12,689

13,829

-34,474

-5,358

1,161

11,527

362

4,077

11,065

5,141

-35,880

-43,798

-22,955

-5,488

-50,805

-54,671

-30,100

-15,120

-24,949

675

562,859

4,450

-3,759

-17,458

-12,342

-24,539

20,989

95,357

6,044

-25,521

-24,291

-35,960

-488

-14,387

Purchase of treasury stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

8,452

-

-

-

-

-

-

-

-

Effect of foreign currency exchange rate on cash and cash equivalents

-197

101

-56

-183

-168

-721

417

11

381

714

283

-1,608

-575

-1,594

247

-1,225

-757

1,856

-3,909

289

1,207

-653

-3

287

-374

279

-827

-67

359

-144

141

-41

-294

98

268

-82

Net decrease in cash and cash equivalents

-7,384

12,692

7,545

-21,041

634

9,665

-6,025

-19,677

4,569

3,086

2,778

-25,869

11,576

2,447

-22,617

2,789

793

-20,172

2,533

-5,063

24,341

31,189

-6,304

-23,167

17,757

7,074

14,151

-21,122

-103,184

108,798

10,567

-850

9,586

-9,731

18,404

-12,197