Willscot corp (WSC)
CashFlow / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15
Operating activities:
Net loss

-5,188

-11,543

-32,561

-70,052

-56,766

-53,572

-168,565

-140,193

-146,468

-149,812

-55,653

-47,105

-41,068

-30,936

274

73

0

0

0

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

194,854

189,436

185,592

177,003

154,509

136,467

118,566

106,742

107,845

107,876

0

0

0

-

-

-

-

-

-

Provision for doubtful accounts

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Provision for doubtful accounts

-

-

-

-

-

7,656

7,081

5,086

5,911

5,062

0

0

0

-

-

-

-

-

-

Impairment losses on long-lived assets

558

2,848

6,676

6,676

3,890

1,600

0

0

0

-

-

-

-

-

-

-

-

-

-

Impairment on right of use assets

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on sale of rental equipment and other property, plant and equipment

10,752

11,660

10,237

10,808

12,275

12,878

12,804

12,502

11,767

9,310

0

0

0

-

-

-

-

-

-

Interest receivable capitalized into notes due from affiliates

-

-

-

-

-

-

-

-

-

3,915

0

0

0

-

-

-

-

-

-

Amortization of debt discounts and debt issuance costs

11,554

11,450

11,583

10,897

9,186

7,652

15,475

17,083

20,162

21,887

0

0

0

-

-

-

-

-

-

Stock-based compensation expense

7,183

6,686

6,217

5,455

4,608

3,439

5,195

4,145

3,091

2,970

0

0

0

-

-

-

-

-

-

Deferred income tax benefit

-2,318

-2,624

-28,308

-34,316

-39,394

-40,192

6,302

10,966

15,132

12,959

0

0

0

-

-

-

-

-

-

Unrealized currency (gains) losses

-438

745

-782

20

-401

-1,982

12,887

16,608

23,167

26,342

0

0

0

-

-

-

-

-

-

Changes in operating assets and liabilities
Trade receivables

36,233

63,648

74,608

69,012

62,494

36,452

27,564

28,340

20,459

20,563

0

0

0

-

-

-

-

-

-

Inventories

-2,335

-869

404

644

2,406

1,241

619

-514

-358

-682

0

0

0

-

-

-

-

-

-

Prepaid and other assets

-2,707

-8,237

-6,509

-7,978

-7,405

-8,416

2,943

4,492

6,580

11,925

0

0

0

-

-

-

-

-

-

Operating lease assets and liabilities

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued interest receivable

-

-

-

-

-

-

-

-

-

7,725

0

0

0

-

-

-

-

-

-

Accrued interest

-2,189

-4,217

-2,227

14,343

5,946

17,526

-22,808

-20,016

-29,545

-20,631

0

0

0

-

-

-

-

-

-

Accounts payable and other accrued liabilities

-6,545

4,865

4,831

1,748

10,007

-14,462

-441

13,831

14,301

39,771

0

0

0

-

-

-

-

-

-

Deferred revenue and customer deposits

15,385

15,639

25,519

20,240

12,767

11,208

3,281

884

-2,748

-3,089

0

0

0

-

-

-

-

-

-

Increase (decrease) in prepaid expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

99

-5

0

0

0

Net cash provided by operating activities

195,658

172,566

120,645

78,403

47,623

37,149

-32,683

-6,686

-21,889

-1,362

105,466

82,868

84,088

58,731

171

-6

0

0

0

Investing activities:
Acquisition of businesses

-

-

-

-

-

-

-

0

0

-

-

0

0

-

-

-

-

-

-

Proceeds from sale of rental equipment

37,286

42,101

40,672

41,811

34,234

30,761

30,884

29,452

30,325

28,041

0

0

0

-

-

-

-

-

-

Purchase of rental equipment and refurbishments

192,881

205,106

210,255

209,208

180,672

160,883

140,930

122,241

118,888

111,701

0

0

0

-

-

-

-

-

-

Lending on notes due from affiliates

-

-

-

-

-

-

-

-

-

69,939

0

0

0

-

-

-

-

-

-

Proceeds from the sale of property, plant and equipment

22,516

18,763

13,206

8,898

252

688

1,056

1,062

905

392

0

0

0

-

-

-

-

-

-

Purchase of property, plant and equipment

8,229

8,340

8,131

6,905

5,251

4,622

4,599

4,047

4,743

4,446

0

0

0

-

-

-

-

-

-

Increase (decrease) in accounts payable and accrued expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Cash deposited in Trust Account

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Trust income reinvested in Trust account

-

-

-

-

-

-

-

-

-

-

-

-

-

-

916

589

0

0

0

Net cash used in investing activities

-141,308

-152,582

-163,508

-1,224,544

-1,210,577

-1,217,202

-1,434,883

-358,928

-389,312

-392,650

-163,643

-141,129

-81,782

-30,236

-916

-500,589

0

0

0

Financing activities:
Receipts from issuance of common stock

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Receipts from borrowings

548,759

552,230

517,235

1,612,040

1,214,603

1,212,629

1,991,643

995,314

1,138,144

1,155,651

0

0

0

-

-

-

-

-

-

Proceeds from sale of Public Offering Units

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Proceeds from sale of Private Placement Units

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Payment of underwriting discounts

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Receipts on borrowings from notes due to affiliates

-

-

-

-

-

-

-

-

-

75,000

0

0

0

-

-

-

-

-

-

Payment of financing costs

2,540

2,623

4,432

39,265

36,662

36,579

55,438

20,397

20,793

31,316

0

0

0

-

-

-

-

-

-

Repayment of borrowings

605,767

568,686

468,719

569,523

151,295

143,094

995,199

984,530

1,163,387

1,179,340

0

0

0

-

-

-

-

-

-

Principal payments on capital lease obligations

67

99

115

122

122

120

718

1,510

1,892

2,236

0

0

0

-

-

-

-

-

-

Withholding taxes paid on behalf of employees on net settled stock-based awards

673

654

654

654

654

0

0

0

0

-

-

-

-

-

-

-

-

-

-

Net cash (used in) provided by financing activities

-61,939

-26,063

37,258

1,143,425

1,173,071

1,180,037

1,466,562

367,951

344,146

396,833

0

0

0

-

-

-

-

0

0

Effect of exchange rate changes on cash and cash equivalents

-548

166

-215

25

-199

-211

-41

-148

100

202

0

0

0

-

-

-

-

-

-

Net change in cash and cash equivalents

-8,137

-5,913

-5,820

-2,691

9,918

-227

-1,045

2,189

-66,955

3,023

2,176

-2,797

60,793

-3,140

-1,404

495

0

0

0

Supplemental cash flow information:
Interest paid

109,498

115,582

118,173

95,005

81,224

51,986

84,265

87,356

112,323

115,756

0

0

0

-

-

-

-

-

-

Income taxes paid (refunded), net

-396

-1,148

825

1,972

1,089

2,617

1,350

48

-905

-1,389

0

0

0

-

-

-

-

-

-

Capital expenditures accrued or payable

23,144

23,946

29,751

28,305

31,114

20,785

17,624

19,755

12,103

11,919

0

0

0

-

-

-

-

-

-

Deferred underwriters commission

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Accrued offering costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Formation and offering costs paid by sponsor in exchange for founder shares

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0