Worthington industries, inc (WOR)
CashFlow / Quarterly
Feb'20Nov'19Aug'19May'19Feb'19Nov'18Aug'18May'18Feb'18Nov'17Aug'17May'17Feb'17Nov'16Aug'16May'16Feb'16Nov'15Aug'15May'15Feb'15Nov'14Aug'14May'14Feb'14Nov'13Aug'13May'13Feb'13Nov'12Aug'12May'12Feb'12Nov'11Aug'11May'11Feb'11Nov'10Aug'10May'10Feb'10Nov'09Aug'09
Operating activities:
Net earnings

18,888

56,922

-2,455

38,975

29,548

37,792

56,958

32,857

78,297

41,622

48,074

60,583

38,951

49,867

68,536

62,739

34,143

25,751

34,995

30,226

-23,245

31,455

48,820

31,248

44,211

28,340

56,353

32,017

37,331

32,622

34,865

54,413

28,398

14,201

28,341

54,564

28,334

16,883

24,253

37,682

-16,099

23,249

6,675

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

22,780

22,596

24,177

23,959

23,625

23,525

24,493

26,373

25,338

26,283

25,365

21,640

21,677

21,645

21,831

21,951

20,761

20,547

21,440

21,760

21,762

21,200

20,367

19,967

20,208

20,095

19,460

18,333

17,048

16,101

14,987

15,247

14,653

13,119

12,854

13,800

15,789

15,646

15,823

16,222

16,103

16,432

15,896

Impairment of long-lived assets

34,627

0

40,601

5,436

0

0

2,381

-

-

8,289

-

-

-

-

-

0

0

22,962

3,000

2,344

81,600

14,235

1,950

22,871

0

30,734

4,641

4,968

0

-50

1,570

-

-

-

-

-

-

-

-

-

32,706

2,703

-

Restructuring and other expense, non-cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-22

0

-32

257

161

147

277

2,823

Provision for (benefit from) deferred income taxes

-5,006

6,843

-3,498

-4,058

-730

3,289

18,934

-18,215

-27,373

-583

7,934

8,498

7,609

2,316

20

13,423

9,322

-9,851

-5,540

1,401

-35,334

-5,492

-535

-5,660

1,278

-13,110

-8,424

-8,052

6,491

-1,320

4,679

-6,736

-667

500

7,678

4,167

7,778

-1,365

-3,098

63

-4,870

-3,696

2,393

Bad debt expense

273

143

168

205

201

32

221

15

17

41

-62

159

-41

232

-81

151

187

-2

10

365

-46

143

-203

462

-134

185

-481

208

76

492

7

134

316

-140

29

240

215

776

5

1,086

967

-2,460

-493

Equity in net income of unconsolidated affiliates, net of distributions

4,474

19,879

-5,082

-4,049

865

-14,182

10,019

11,384

-2,835

-2,952

7,755

7,841

1,256

2,824

-3,898

12,949

622

10,389

5,513

3,925

571

813

6,990

6,960

-1,048

3,506

5,915

-8,308

4,841

7,057

7,358

2,730

-3,998

-2,782

5,069

12,376

2,997

2,160

1,655

5,759

2,090

3,638

520

Net gain on sale of assets

5,838

17

-618

-3,144

12,606

312

-2,715

-170

1,437

10,680

-1,425

-4,592

-1,875

2,912

-4,396

5,363

3,385

5,854

-1,606

-690

-3,047

-2,370

2,830

352

-990

7,188

4,662

-1,343

153

2,379

-2,310

3,993

-143

1,653

415

-2,172

1,191

-354

683

-499

115

4,441

-149

Net earnings attributable to noncontrolling interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,369

920

Stock-based compensation

2,725

3,280

3,995

3,978

1,143

3,456

3,156

3,682

2,882

3,787

3,407

3,085

4,304

3,824

3,136

4,552

3,627

3,880

3,777

5,005

4,058

4,498

4,355

8,810

4,705

4,722

3,780

2,684

3,653

3,740

3,193

3,166

2,797

2,578

3,201

1,537

1,603

1,579

1,454

1,166

1,254

1,176

974

Loss on extinguishment of debt

0

0

-4,034

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefits - stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

762

663

621

5,132

1,586

1,462

1,534

4,298

-

3,455

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on previously held equity interest in Worthington Specialty Processing

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

11,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on acquisitions and sales of subsidiary investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-232

1,123

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

-5,992

5,456

-14,981

-17,553

-1,546

-40,838

-13,409

73,718

-4,071

46,097

-62,678

5,006

44,719

7,156

-16,954

10,674

-10,688

-23,474

-42,629

-21,097

-5,078

6,916

-12,752

34,207

30,228

-7,574

-7,655

8,277

41,672

-30,634

-38,116

26,492

28,643

-28,717

-27,374

56,343

24,591

-8,100

23,222

92,537

17,081

-2,478

7,752

Inventories

-3,024

-43,601

-44,282

-4,876

1,054

-5,866

43,337

44,431

15,398

-9,871

34,696

13,730

2,346

-31,875

50,398

-5,319

-37,211

-31,645

7,824

-98,033

8,795

-16,087

51,217

-21,573

38,260

21,838

-515

-34,371

15,158

-40,883

-17,019

6,416

31,049

-48,860

-5,915

28,990

21,601

-31,799

5,469

23,663

31,438

-32,379

41,777

Accounts payable

29,630

-20,743

-37,234

-

19,002

-72,974

2,814

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued compensation and employee benefits

-9,144

9,619

-23,215

-

-11,391

3,556

-30,934

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other operating items, net

6,156

-7,251

7,167

-

-3,619

14,546

10,346

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Prepaid expenses and other current assets

-

-

-

-

-

-

-

12,253

4,914

-3,622

-1,143

-8,939

13,379

1,737

-7,162

-9,003

19,309

-17,467

-11,166

4,113

3,078

5,232

2,872

7,057

-2,429

-4,072

2,365

762

-32

-1,746

145

4,649

-9,576

-2,940

-611

5,725

5,435

-1,437

742

-52,896

2,536

18,968

967

Other assets

-

-

-

-

-

-

-

-1,787

2,069

626

350

83

423

-1,165

-1,246

511

1,216

3,245

-442

4,014

-2,415

-3,095

-121

5,091

762

-139

-436

-1,500

-198

-91

-2,847

-2,347

1,046

-1,567

-1,273

-2,134

2,020

-107

-701

-277

-112

65

119

Accounts payable and accrued expenses

-

-

-

-

-

-

-

118,788

35,564

-21,577

-26,791

641

89,736

-65,946

43,061

37,644

13,756

-72,846

41,626

-93,245

40,260

-72,095

41,890

-38,503

91,485

-23,922

40,622

-12,613

35,320

-30,617

-39,573

11,024

90,258

-50,281

-96,848

56,401

68,840

-15,158

-78,985

156,616

8,053

-21,744

-17,312

Other liabilities

-

-

-

-

-

-

-

2,098

2,107

2,478

2,983

-715

718

950

1,144

-892

1,052

7,487

-3,187

743

-3,612

-505

-5,991

2,924

1,316

4,556

-1,853

4,994

1,434

3,495

-1,519

1,604

-1,296

1,165

216

2,936

354

1,491

2,166

-4,123

767

751

606

Net cash provided by operating activities

87,321

104,160

64,369

70,672

52,038

44,704

30,445

78,688

99,920

19,382

83,355

80,762

102,706

31,299

120,905

117,516

106,215

51,026

138,627

75,605

82,876

1,409

54,485

8,439

96,824

29,319

94,464

77,294

36,304

88,381

70,998

36,696

87,438

64,355

-14,840

16,555

65,078

59,457

-69,195

-9,562

-14,120

37,874

96,227

Investing activities:
Investment in property, plant and equipment

21,219

28,381

22,174

23,945

19,379

21,741

19,434

20,769

13,628

23,678

18,013

16,212

21,128

14,730

16,316

21,571

14,973

21,995

38,497

22,990

26,119

23,273

23,873

19,181

21,743

17,060

13,354

10,186

9,786

7,911

16,705

15,913

5,769

3,559

6,472

6,113

5,101

4,477

6,334

7,727

5,638

13,205

7,749

Investment in notes receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,687

0

0

2,300

5,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisitions

500

29,283

-

-

0

-

-

0

0

523

284,505

-

-

-

-

-

31,256

2,950

-

-191

54,389

14,543

36,550

29,151

35,599

-276

-52,957

-

-

62,110

-

7,680

152,389

38,782

41,000

15

19,515

0

12,175

-1,066

30,100

24,351

9,713

Distributions from unconsolidated affiliate

0

-

-

-

-1,492

-55,201

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,559

129

-

-18,446

0

3,668

5,555

-

-

-

-

-

-

-

785

-

-

-

-

179

568

111

-375

Investments in unconsolidated affiliates

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,683

226

-

-

-

-

3,800

-

-

-

-

-

-

-

-

-

-44,023

-

-

-

-

-

-

-

-

-

111

Proceeds from sale of assets

119

23

9,176

1,393

27,843

170

20,277

4,569

3

16,312

427

4,464

2

799

157

-90

431

9,325

131

9,300

3,521

921

265

3,125

580

16,086

7,647

747

552

9,090

6,585

22,564

3,178

6,306

5,041

13,923

183

4,366

2,142

1,287

185

14,459

19

Net cash provided (used) by investing activities

-21,600

-57,641

-12,998

-32,954

9,956

33,630

843

-13,800

-13,625

-7,889

-302,091

-11,748

-21,126

-13,931

-16,159

-21,660

-49,481

-15,846

-40,053

-13,499

-81,546

-39,066

-68,958

-45,207

-56,762

2,970

52,805

-121,691

-9,234

-60,931

-10,120

1,612

-110,957

-36,035

-43,216

1,634

-24,433

-111

-16,367

-5,553

-36,121

-23,097

-17,179

Financing activities:
Net repayments of short-term borrowings, net of issuance costs

-

-

-

-

-

-

-

-440

-1,108

302

298

-44

-330

-1,037

-1,117

-28,115

-16,716

27,499

-68,511

-33,597

112,285

-196

555

-24,994

-8,347

-18,736

-51,541

83,140

-13,390

-14,508

-223,688

-10,834

15,329

16,881

76,250

52,178

-42,957

-41,375

165,110

-120,000

63,779

-39,219

94,460

Proceeds from long-term debt, net of issuance costs

0

-134

101,598

-

0

-

-

0

0

-594

198,279

-

-

-

-

0

0

0

921

-

5,916

20,480

-

-

-

-

-

0

0

0

150,000

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments on long-term obligations and debt redemption costs

344

490

153,977

290

303

371

430

30,317

374

220

219

219

218

218

219

218

216

220

208

207

101,832

511

302

364

286

285

284

310

365

363

442

-

95

-

-

-

-

-

-

3

19,459

3

118,548

Payments for issuance of common shares, net of tax withholdings

429

3,811

3,213

1,518

104

658

4,091

-1,295

-581

722

3,274

18,300

-12,197

-2,849

5,821

2,896

2,747

3,666

-602

-

2,081

566

-

-628

-1,241

4,286

2,201

4,954

17,332

4,773

10,855

1,407

1,186

315

8,208

2,412

1,077

1,036

302

253

720

248

1,092

Payments for issuance of common shares

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,020

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefits - stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

762

663

621

5,132

1,586

1,462

1,534

4,298

-

3,455

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments to noncontrolling interests

0

1,453

-

4,399

0

4,007

2,320

3,999

0

3,196

720

-

3,360

6,781

-

0

4,206

1,564

3,336

1,312

9,200

0

2,867

1,819

36,512

875

1,763

-

2,592

5,990

-

-250

3,168

3,456

3,120

1,919

2,496

3,457

3,120

0

1,619

856

2,064

Repurchase of common shares

21,373

0

29,599

39,093

28,587

63,581

36,852

44,325

47,418

67,448

45,076

-

-

-

-

-1

28,352

43,914

27,582

32,945

52,795

21,549

20,071

37,140

40,762

19,800

30,516

-

-

-

-

21,298

0

16,715

35,405

57,672

0

12,137

62,955

-

-

-

-

Dividends paid

13,263

13,954

12,960

12,963

13,119

13,533

12,719

12,559

12,766

13,256

12,778

12,620

13,374

12,828

11,894

11,664

11,913

12,065

11,551

11,667

12,517

12,138

10,112

-

10,545

10,407

-

0

27,040

8,954

8,150

8,282

8,273

8,414

7,169

7,421

7,413

7,408

7,926

7,919

7,928

7,907

7,906

Net cash used by financing activities

-34,551

-19,842

-98,151

-58,471

-41,905

-82,150

-56,412

-90,345

-61,085

-85,134

136,510

-18,214

-29,479

-23,713

-7,409

-37,100

-58,656

-26,598

-110,869

-73,507

-55,399

-12,727

-28,685

173,961

-96,231

-44,283

-77,605

58,423

-22,600

-25,042

-71,425

-32,546

4,979

-11,389

38,764

-11,748

-51,789

-63,341

91,411

19,438

35,493

-47,737

-32,966

Increase (decrease) in cash and cash equivalents

31,170

26,677

-46,780

-20,753

20,089

-3,816

-25,124

-25,457

25,210

-73,641

-82,226

50,800

52,101

-6,345

97,337

58,756

-1,922

8,582

-12,295

-11,401

-54,069

-50,384

-43,158

137,193

-56,169

-11,994

69,664

14,026

4,470

2,408

-10,547

5,762

-18,540

16,931

-19,292

6,441

-11,144

-3,995

5,849

4,323

-14,748

-32,960

46,082