WABASH NATIONAL CORPORATION WNC Cash Flow

Wabash national corporation (WNC)
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 loss for the period
-31,852	89,575	82,784	61,987	62,929	69,421	107,193	121,478	112,521	111,422	85,066	99,496	112,082	119,433	129,720	128,222	121,339	104,289	90,090	76,517	64,108	60,930	52,265	50,194	48,090	46,529	116,290	118,495	106,302	105,631	32,898	15,549	16,909	15,042	0	0	0
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities
Depreciation
22,090	21,886	21,772	21,842	21,472	21,215	21,004	19,930	18,973	18,012	17,298	17,069	16,856	16,830	16,466	16,607	16,777	16,739	16,735	16,834	17,047	16,951	16,851	16,489	16,186	16,550	16,744	16,818	16,350	14,975	0	0	0	-	-	-	-
Amortization of intangibles
20,866	20,500	20,035	19,857	19,688	19,500	19,125	18,284	17,440	17,000	17,672	18,559	19,453	19,940	20,275	20,608	20,933	21,259	21,410	21,565	21,721	21,878	21,921	21,904	21,887	21,786	19,693	17,222	15,222	10,590	0	0	0	-	-	-	-
Net gain on sale of property, plant and equipment
598	109	24	-76	3,649	10,148	10,150	15,287	11,603	8,046	7,999	2,418	2,355	-101	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefits from stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain (Loss) on Extinguishment of Debt
-	-	-	-	-	-280	-206	-209	-333	-799	-2,175	-2,172	-2,048	-1,895	-675	-675	-1,009	-5,808	-5,620	-6,129	-6,328	-1,042	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income taxes
3,852	3,420	-5,305	-5,109	-5,234	-2,976	-14,863	-14,808	-14,692	-14,682	5,038	2,319	-3,564	4,044	-3,912	-5,761	-1,796	-7,749	-2,770	-354	12,227	16,573	21,101	33,725	32,287	30,089	-35,390	-44,883	-53,493	-57,283	0	0	0	-	-	-	-
Depreciation and amortization
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Stock-based compensation
5,497	9,000	9,083	10,187	10,129	10,200	10,568	10,360	10,094	10,400	11,731	11,766	12,531	12,038	11,973	11,173	10,060	10,010	8,979	8,774	8,613	7,833	7,464	7,170	7,236	7,480	7,063	6,906	5,636	5,149	5,062	4,005	3,947	3,398	0	0	0
Impairment
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash interest expense
1,050	1,045	1,102	1,158	1,330	1,745	2,115	2,326	2,413	2,258	2,326	2,687	3,047	3,475	4,574	4,790	4,985	5,222	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accretion of debt discount
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	4,562	4,463	4,098	2,972	0	0	0	-	-	-	-
Changes in operating assets and liabilities
Accounts receivable
-47,530	-8,327	-18,663	-17,911	-1,690	39,539	42,773	45,277	50,320	-31,943	-30,493	-8,974	-42,163	809	18,991	-10,361	2,551	17,618	-12,671	10,787	38,028	14,848	21,535	6,925	17,604	23,691	31,688	21,931	-7,323	-1,180	6,878	-12,983	7,767	14,366	0	0	0
Inventories
-11,065	2,510	42,493	42,819	32,896	18,713	1,324	8,467	19,859	13,158	23,367	-10,255	-14,504	-24,969	-30,941	-30,884	-34,778	-10,162	-32,284	-12,183	-16,015	-3,116	24,101	16,308	25,902	-6,260	6,380	-8,726	-20,957	-41,696	-9,356	14,375	69,525	78,683	0	0	0
Prepaid expenses and other
3,368	3,809	-5,445	-2,467	-2,678	-4,548	5,092	4,256	9,709	2,014	-687	-10,762	-1,902	10,147	6,531	11,532	5,193	-1,786	5,996	6,275	-4,210	571	2,960	1,942	5,375	3,893	-2,354	-2,346	-747	-736	1,485	1,469	-1,689	162	0	0	0
Accounts payable and accrued liabilities
-77,352	-817	13,801	18,071	53,480	32,653	51,937	36,544	21,585	-963	-4,778	-2,871	-17,923	-13,002	-55,230	-44,451	-23,552	-12,243	6,584	21,497	22,023	-26,787	9,861	568	7,334	18,082	7,087	-15,359	-32,049	-46,786	-14,863	-32,360	18,367	56,968	0	0	0
Other, net
3,602	396	5,984	-2,281	-1,652	620	10,061	11,500	10,210	8,662	2,948	1,646	2,351	1,680	-813	-1,836	-1,983	-1,342	468	99	-658	-511	-1,042	-908	-226	-1,631	-402	-430	-1,107	3,046	555	1,165	2,070	-386	0	0	0
Net cash (used in) provided by operating activities
102,464	146,284	132,005	132,973	158,280	112,471	139,944	109,606	67,036	144,379	133,903	177,729	201,146	178,750	133,070	165,601	170,470	131,795	182,616	143,563	140,919	92,635	89,619	113,560	92,280	128,669	102,244	94,134	92,403	76,017	48,729	3,163	-22,376	-1,167	0	0	0
Cash flows from investing activities
Capital expenditures
37,121	37,645	35,909	37,887	34,751	34,009	30,999	26,317	28,943	26,056	20,698	23,083	20,539	20,342	23,338	23,612	20,848	20,847	23,494	21,155	20,854	19,957	15,803	15,925	17,866	18,352	17,469	17,906	16,513	14,916	12,871	9,402	7,938	7,264	0	0	0
Proceeds from the sale of property, plant, and equipment
781	785	786	1,388	8,282	17,776	16,027	23,550	16,622	10,860	12,613	3,738	3,780	19	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisitions, net of cash acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	15,985	15,985	15,985	377,872	364,012	0	0	0	-	-	-	-
Other, net
-	-	-	-	-	-3,060	-3,273	-8,283	-8,285	-6,443	-6,976	-4,234	-4,232	-3,014	0	0	0	-	-	-	-	-	-	-	-	-2,500	0	0	82	2,500	0	0	0	-	-	-	-
Net cash used in investing activities
-36,340	-36,860	-35,123	-36,499	-26,469	-13,173	-11,699	-317,971	-327,523	-332,240	-324,596	-15,111	-12,527	-17,309	-15,675	-13,560	-7,645	-7,644	-15,700	-18,010	-16,654	-15,757	-11,270	-11,397	-19,604	-31,532	-32,847	-33,284	-393,860	-380,821	-376,866	-373,397	-7,921	-7,247	0	0	0
Cash flows from financing activities
Proceeds from exercise of stock options
793	848	361	106	155	961	970	1,070	1,243	5,790	8,271	9,064	10,047	4,831	2,394	1,562	1,485	2,012	2,091	2,113	1,123	1,921	1,942	2,064	1,956	600	461	359	352	354	412	290	416	538	0	0	0
Excess tax benefits from stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends paid
17,652	17,797	17,645	17,558	17,703	17,768	17,334	16,819	16,114	15,315	11,547	7,767	3,893	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Borrowings under revolving credit facilities
45,519	619	801	802	823	937	775	765	815	713	683	673	595	618	924	1,034	1,146	1,134	906	856	794	806	821	881	1,118	1,166	1,139	12,487	92,606	206,015	322,945	512,252	739,596	848,705	0	0	0
Payments under revolving credit facilities
519	619	801	802	823	937	775	765	815	713	683	673	595	618	976	1,034	1,146	1,134	854	856	794	806	821	881	1,118	1,166	1,139	37,486	170,106	271,015	432,945	553,426	709,596	838,705	0	0	0
Principal payments under finance lease obligations
313	308	304	299	294	290	400	440	500	600	562	639	725	779	870	3,898	3,994	4,201	4,370	1,574	1,727	1,898	1,883	1,886	1,862	1,700	1,550	1,371	1,160	1,629	1,583	1,548	1,448	671	0	0	0
Proceeds from issuance of term loan credit facility
-	-	-	-	-	-	-	-	-	377,519	189,470	189,470	189,470	0	0	0	0	192,845	192,845	192,845	192,845	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Principal payments under term loan credit facility
50,000	50,470	30,940	16,410	1,879	1,880	189,929	197,099	197,104	386,577	198,540	191,382	191,390	1,928	1,928	1,928	1,928	194,291	193,809	214,020	234,230	42,078	62,770	63,462	62,770	62,827	42,885	22,250	3,000	2,250	0	0	0	-	-	-	-
Proceeds from issuance of industrial revenue bond
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,500	0	0	0	-	-	-	-
Principal payments under industrial revenue bond
-	-	-	-	-	93	230	364	498	583	533	528	523	473	512	506	501	496	491	486	480	475	470	465	460	381	0	0	0	-	-	-	-	-	-	-	-
Debt issuance costs paid
158	164	618	547	491	476	311	6,429	6,429	6,783	6,472	354	354	0	6	120	593	2,587	2,581	2,467	1,994	0	0	0	940	981	1,050	1,089	5,175	5,134	0	0	0	-	-	-	-
Convertible senior notes repurchase
-	-	-	-	-	-80,200	-80,732	-80,914	-25,228	-8,045	-64,374	-64,192	-56,861	-98,922	-64,997	-64,997	-64,997	-22,936	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Stock repurchase
41,123	33,707	36,602	50,822	55,606	58,383	72,291	53,110	63,278	74,491	85,450	104,652	87,424	79,556	59,479	37,802	50,585	61,757	43,017	41,653	19,929	1,497	1,497	1,497	1,497	35	35	35	35	564	592	592	616	533	0	0	0
Net cash provided by (used in) financing activities
-63,453	-101,598	-85,748	-85,531	-138,836	-158,129	-172,208	158,944	205,141	215,915	154,754	-171,585	-142,743	-176,827	-124,941	-104,005	-120,023	-91,411	-49,280	-68,321	-64,392	-44,027	-64,678	-65,246	-65,573	-65,324	-42,824	-47,036	353,944	366,277	319,451	388,337	26,208	7,190	0	0	0
Cash and cash equivalents:
Cash and cash equivalents:
Net increase in cash, cash equivalents, and restricted cash
2,671	7,826	11,134	10,943	-7,025	-58,831	-43,963	-49,421	-55,346	28,054	-35,939	-8,967	45,876	-15,386	-7,546	48,036	42,802	32,740	117,636	57,232	59,873	32,851	13,671	36,917	7,103	31,813	26,573	13,814	52,487	61,473	-8,686	18,103	-4,089	-1,224	0	0	0
Supplemental disclosures of cash flow information:
Cash paid for interest
25,374	26,234	26,762	26,976	27,695	27,386	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
(Refunds received) cash paid for income taxes
19,757	20,379	19,620	22,110	25,199	24,243	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-