WATTS WATER TECHNOLOGIES INC WTS Cash Flow

Watts water technologies inc (WTS)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jul'18	Apr'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	Dec'10	Sep'10	Jun'10	Mar'10
OPERATING ACTIVITIES
Net income
32,000	31,800	32,300	36,400	31,000	32,300	31,500	36,000	28,200	-2,300	26,500	27,200	21,700	17,500	21,900	28,600	16,200	-	-	-	-	-	-	-	-	8,200	15,400	18,900	16,100	15,500	18,700	18,500	15,700	17,000	23,700	14,600	11,100	11,300	17,300	22,100	8,100
Loss from discontinued operations, net of taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-2,100	0	-200	-2,700	200	300	200	-	-	-	-	-100	0	-100	-4,100
Net income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	11,600	-	22,600	21,300	14,100	8,200	17,500	18,900	16,300	18,200	18,500	18,200	15,500	-	-	-	-	11,400	17,300	22,200	12,200
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation
7,600	8,300	7,700	7,500	7,500	7,400	7,200	7,200	7,100	7,800	7,300	8,000	6,600	7,700	8,000	7,400	7,300	7,800	8,200	7,700	7,900	8,200	8,100	8,400	8,200	8,800	8,500	8,400	8,500	8,900	7,700	8,200	8,300	7,500	8,500	8,800	7,300	7,700	6,900	7,700	8,200
Amortization of intangibles
3,800	4,000	3,800	3,900	3,900	4,400	4,500	5,100	5,600	5,700	5,700	5,600	5,500	5,500	5,100	5,100	5,100	5,000	5,600	5,200	5,100	4,100	3,700	3,700	3,700	3,700	3,600	3,700	3,700	3,600	3,500	4,100	4,200	2,300	4,200	5,300	4,000	4,100	3,600	3,200	3,400
Loss on disposal and impairment of property, plant and equipment and other
-	-100	-100	-100	-500	-	-	-	-	-1,100	-400	-200	-400	-1,900	100	-1,600	-300	-130,800	-300	-200	-1,100	-	-	-	-100	-	-	-	100	-600	-3,100	0	-400	-	-	-	-	-	-	-	-
Gain on acquisition
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	1,700	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Stock-based compensation
3,600	4,500	4,600	4,100	4,600	3,800	3,700	3,600	2,700	3,700	3,300	4,000	2,900	2,800	3,300	4,500	2,800	3,200	2,600	2,800	2,300	2,600	2,600	1,700	1,700	3,000	2,700	2,300	1,600	2,400	1,700	1,400	1,100	1,300	1,200	1,500	4,300	1,200	1,100	1,200	1,200
Deferred income tax
-3,900	700	2,500	0	-4,500	11,300	-1,300	900	4,400	-4,600	500	3,000	-5,300	-600	-3,300	-600	1,000	9,200	6,900	6,200	-1,800	1,600	2,400	-900	-400	-3,800	-1,300	-1,200	-500	-	-600	-3,400	2,900	6,100	2,300	-4,400	-300	-3,300	2,000	-3,300	-2,300
Other
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-200	-	-	-	100
Changes in operating assets and liabilities, net of effects from business acquisitions:
Accounts receivable
20,600	-21,500	-12,400	12,600	36,300	-23,400	-17,800	21,300	13,900	-14,400	-19,600	29,000	12,500	-17,200	-6,300	14,600	16,000	-33,000	-7,300	5,700	21,600	-28,100	-4,700	11,400	11,800	-17,300	4,400	2,300	14,100	-12,900	-10,300	6,900	14,300	-16,600	-500	2,200	11,800	-7,800	-12,600	9,400	19,200
Inventories
12,700	-11,900	-1,500	-11,400	7,800	-900	8,000	7,700	19,700	-1,700	-3,000	-1,200	14,300	-8,400	-6,900	-14,400	19,900	-13,900	2,000	-9,700	400	-26,700	-5,400	-4,600	15,300	-2,900	2,900	5,500	11,800	-10,700	8,100	4,600	5,100	-19,900	2,100	3,700	11,000	-16,900	5,000	8,200	2,900
Prepaid expenses and other assets
4,600	1,800	-1,300	1,300	-200	-5,500	-2,100	5,400	1,600	-3,600	-8,500	-5,300	2,700	3,800	-6,900	-4,100	2,300	12,500	3,800	1,900	-400	7,000	-15,400	-3,800	1,300	16,600	-5,800	-1,500	5,200	-9,600	-800	-6,300	15,600	6,700	-1,800	200	3,800	-15,900	-3,100	8,800	1,200
Accounts payable, accrued expenses and other liabilities
-13,900	19,500	14,000	-5,600	-32,300	36,100	5,100	11,000	-30,100	42,200	-9,400	-1,400	-22,000	10,700	500	-13,700	-12,700	13,600	-45,300	6,400	-3,800	-4,700	-9,900	6,000	-17,700	25,800	16,000	-1,900	-400	-9,200	11,700	-3,400	5,600	2,900	-3,800	1,500	900	-25,700	0	24,000	5,200
Net cash used in operating activities
-900	99,100	75,200	43,900	-24,200	102,800	65,100	27,600	-26,100	82,500	64,400	18,100	-9,100	68,500	61,800	29,700	-21,900	67,500	0	41,100	800	61,700	55,100	37,100	-18,700	50,600	45,900	23,800	-2,000	58,800	48,600	19,900	3,000	69,600	35,800	19,800	900	38,100	42,100	28,500	4,700
INVESTING ACTIVITIES
Additions to property, plant and equipment
8,900	10,100	4,800	7,400	6,900	11,800	8,900	7,900	7,300	12,300	6,100	5,200	5,800	9,700	7,100	10,000	9,200	8,500	6,700	6,900	5,600	7,600	5,500	5,600	5,000	5,100	4,600	7,000	11,000	11,900	9,000	4,700	4,900	6,100	4,400	5,400	6,600	6,200	6,400	5,200	6,800
Proceeds from the sale of property, plant and equipment
1,400	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	100	-	-	-	-	0	200	100	100	-	-	-	-	0	-100	0	300	-	-	-	-	1,000	700	300	200
Restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	18,200	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net proceeds from the sale of asset, and other
-	-	-	-	-	-	-	-	-	0	1,200	0	1,900	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale of securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	6,200	300
Business acquisitions, net of cash acquired and other
-	-	-	-	-	-500	400	300	1,500	0	0	0	-100	85,900	0	0	2,100	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-100	17,600	2,600	0	162,400	500	200	0	35,600	500
Net cash used in investing activities
-7,500	-10,100	-47,400	-7,400	-6,900	-9,900	-9,200	-8,000	-8,800	-13,800	-4,600	-5,100	-3,800	-89,800	-2,900	8,100	-29,400	-32,000	26,400	-6,100	-5,600	-279,800	-5,300	-5,500	-4,900	-5,000	-4,600	-3,500	-11,000	-9,700	-7,100	-3,900	-22,200	-9,100	-4,700	-167,200	-7,100	-6,400	-5,700	-38,300	-6,800
FINANCING ACTIVITIES
Proceeds from long-term borrowings
70,000	0	42,000	10,000	30,000	0	5,000	25,000	20,000	0	0	10,000	10,000	158,800	0	230,000	300,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	91,900	92,100	-	-	-	-
Payments of long-term debt
-	34,500	42,500	37,500	12,500	25,600	35,700	62,600	70,600	26,200	25,500	87,400	38,900	113,300	400	225,300	275,400	700	500	500	300	700	700	500	400	800	300	75,600	500	500	600	18,400	4,400	52,000	16,100	99,700	200	200	200	50,300	200
Payments for tax withholding on vested awards
7,700	-	-	-	6,700	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment of finance leases
500	-	-	-	500	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments for withholdings on vested stock, finance leases and other
-	-	-	-	-	200	1,200	4,800	400	300	300	1,000	3,300	-100	500	600	500	600	500	2,100	800	300	800	0	2,500	900	700	1,900	1,300	800	900	1,000	200	700	600	1,000	300	200	400	200	400
Proceeds from share transactions under employee stock plans
-	1,100	200	200	600	-	-	-	-	700	500	200	300	900	4,600	2,100	600	400	900	700	500	1,300	5,800	4,300	400	2,500	5,500	2,500	1,400	8,400	3,400	0	6,000	2,000	400	400	2,600	-	-	-	-
Tax benefit of stock awards exercised
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	100	100	0	100	100	600	800	500	-400	1,000	200	500	-700	1,200	0	400	300	100	0	400	-	-	400	-500
Payments to repurchase common stock
14,700	4,700	4,500	4,700	5,600	10,500	4,700	4,600	6,200	4,600	4,600	4,600	4,400	4,600	4,600	5,100	12,500	12,600	12,500	10,100	9,400	10,500	9,100	10,600	9,400	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Debt issuance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	2,100	-	-	-	-	0	0	0	2,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends
8,000	7,800	8,400	7,900	7,300	7,200	7,200	7,200	6,700	6,500	6,600	6,600	6,200	6,300	6,200	6,100	5,900	5,900	5,900	6,000	5,300	5,300	5,300	5,300	4,600	4,600	4,600	4,600	3,900	3,900	3,900	4,000	4,200	4,000	4,000	4,200	4,100	4,100	4,000	4,100	4,200
Net cash provided by (used in) financing activities
39,100	-46,600	-16,500	-40,500	-2,000	-43,100	-41,700	-54,200	-63,900	-36,900	-36,500	-89,400	-42,500	35,200	-6,900	-4,800	4,200	-19,300	-18,400	-18,000	-15,200	259,600	-9,500	-11,300	-18,000	-7,200	-9,100	-89,400	-3,800	2,500	-3,400	-77,400	-2,400	-54,400	-47,400	-12,600	90,500	-3,500	-3,700	19,400	-5,300
Effect of exchange rate changes on cash and cash equivalents
-5,000	3,600	-4,400	600	-800	-2,500	0	-7,500	3,300	1,800	5,800	6,900	4,000	-14,100	-100	-5,700	10,300	-8,800	-3,800	5,800	-19,300	-12,800	-12,200	-1,000	-1,300	2,300	5,300	-200	-3,300	1,600	2,400	-2,400	1,600	-1,600	-4,300	8,000	5,200	800	5,000	-7,100	-1,400
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
25,700	46,000	6,900	-3,400	-33,900	47,300	14,200	-42,100	-95,500	33,600	29,100	-69,500	-51,400	-200	51,900	27,300	-36,800	7,400	4,200	22,800	-39,300	28,700	28,100	19,300	-42,900	41,200	45,400	-69,700	-20,300	62,500	41,700	-63,000	-19,800	3,900	-20,400	-151,800	89,300	36,900	37,600	2,000	-5,500
Net cash used in operating activities of discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	500	0	-400	-200	1,000	1,200	800	200	-	-	-	-200	7,900	-100	-500	-1,800
Net cash provided by investing activities of discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	5,100
NON CASH INVESTING AND FINANCING ACTIVITIES
Acquisition of businesses:
Fair value of assets acquired
-	-	-	-	-	0	0	3,400	700	-	-	-	-	106,900	0	0	5,700	-	-	-	-	-	-	-	-	-	-	-	-	-1,600	-900	0	27,700	-	-	-	-	-	-	-	-
Cash paid, net of cash acquired
-	-	-	-	-	0	0	400	1,300	-	-	-	-	85,900	0	0	2,100	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on acquisition
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	1,700	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on fair value of acquisition
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	1,700	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Liabilities assumed
-	-	-	-	-	0	0	1,800	600	-	-	-	-	21,000	0	0	1,900	-	-	-	-	-	-	-	-	-	-	-	-	-1,600	-900	100	10,100	-	-	-	-	-	-	-	-
Issuance of stock under management stock purchase plan
700	200	300	100	1,200	400	800	-400	1,100	-100	0	100	900	0	0	0	700	0	0	0	300	-	-	0	200	200	-300	400	400	-200	300	0	400	0	0	0	400	0	0	0	2,100
CASH PAID FOR:
Interest
2,500	5,100	3,600	5,800	2,600	5,500	3,800	5,800	4,000	6,000	3,300	5,500	4,000	5,100	3,400	10,500	1,200	10,500	1,600	9,800	1,200	8,700	100	9,200	300	9,200	600	11,100	600	11,200	200	11,700	800	11,500	1,000	11,700	500	10,500	500	10,000	400
Income taxes
5,000	11,900	12,000	24,000	2,900	5,800	14,100	28,400	7,000	9,900	8,600	15,900	5,000	9,700	9,200	9,100	5,500	5,900	6,000	6,800	5,800	8,800	6,200	7,500	8,000	7,600	7,400	7,700	10,000	6,300	6,800	8,600	5,400	9,300	6,100	14,000	6,100	-500	9,100	5,000	6,700