Olympic steel inc (ZEUS)
CashFlow / Quarterly
Mar'20Dec'19Sep'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'11
Cash flows from (used for) operating activities:
Net income

593

-890

591

2,081

2,074

-1,317

11,599

15,848

7,629

4,187

2,280

4,797

7,699

-2,104

-1,757

3,550

-767

-4,988

-598

-22,260

1,069

-26,891

1,556

3,494

2,777

-1,382

1,340

2,526

5,163

-10,118

1,639

4,526

6,230

565

6,136

7,946

10,323

Adjustments to reconcile net income to net cash from (used for) operating activities -
Depreciation and amortization

5,042

4,951

4,771

4,947

4,879

4,836

4,314

4,528

4,357

4,715

4,335

4,771

4,766

4,816

4,625

5,001

4,960

4,971

4,850

5,045

5,007

4,973

4,832

6,024

6,011

6,191

5,681

5,860

5,850

5,893

5,510

5,473

5,280

4,680

4,918

3,588

3,544

Loss on disposition of property and equipment

-71

27

0

199

-4

-35

-24

2

-7

14

44

1

-7

215

321

0

-160

-15

0

0

0

-215

-21

0

-12

-65

0

-21

-83

-

-

-

-

-56

-26

-30

-9

Stock-based compensation

359

290

256

144

1,498

181

180

144

1,024

152

140

148

656

134

176

-573

797

79

371

356

953

355

378

427

914

546

207

174

797

601

305

199

1,237

159

243

227

177

Insurance recovery receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

915

872

-

-

-

-

-

-

-

-

Other long-term assets

312

-

-

-

791

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other long-term liabilities

-764

-

-

-

-926

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net Cash Provided by (Used in) Operating Activities, Excluding Changes in Working Capital

4,989

-

-

-

6,738

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other long-term assets

-

-

-

-

-

-

-

-275

207

-

-504

-425

-335

-

783

-2,639

-1,857

-660

1,726

-792

-230

188

290

-393

-851

196

-1,356

-1,144

-1,467

191

222

1,199

-3,231

-380

1,429

23

-232

Other long-term liabilities

-

-

-

-

-

-

-

-2,346

151

-

851

-734

1,406

-

924

-4,749

-367

-

2,936

2,807

3,783

4,349

-2,298

504

199

-151

-461

-757

1,573

1,747

-385

569

-1,824

2,164

-1,887

-877

-2,635

-

-

-

-

-

-

-

22,589

13,073

-

5,356

10,024

11,387

440

2,902

10,088

3,340

1,943

3,413

3,993

3,016

1,517

6,390

8,843

8,664

5,767

8,120

7,279

7,981

1,218

7,910

11,002

11,340

111,981

-7,964

-13,686

-32,941

Changes in working capital:

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

15,656

12,691

16,456

Accounts receivable

32,210

-34,465

-17,011

-19,400

28,735

-38,170

8,177

23,823

42,076

-17,955

-7,510

17,921

38,379

-9,087

-2,411

-1,302

21,825

-22,278

-22,557

-13,765

27,673

-28,864

-10,946

13,708

34,618

-16,190

-9,844

-7,418

35,899

-39,593

-6,419

-8,408

44,682

-32,008

-8,279

3,584

54,045

Inventories

-5,977

-9,615

-5,080

-54,693

-26,448

2,540

2,603

29,802

43,717

-4,916

17,483

-450

8,664

23,706

20,036

20,970

-16,831

-22,386

-14,429

-36,806

-30,842

-18,324

18,478

27,091

-2,508

40,600

-3,016

-26,397

-14,839

1,325

-23,577

-5,451

39,961

-15,684

34,776

8,668

-1,696

Income taxes receivable and deferred

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-5,077

Prepaid expenses and other

-608

749

-3,675

112

350

4,129

-785

-775

-2,616

2,013

-800

2,165

-2,075

-2

-978

-702

62

100

-3,803

-5,030

-5,075

11,015

-461

-1,559

-1,347

1,037

2,700

2,092

-4,774

88

2,169

-725

-2,877

-8,165

4,894

1,649

-682

Accounts payable

10,283

-21,491

12,350

-33,405

8,895

-34,028

-4,258

7,155

34,029

3,740

-4,757

-1,836

6,771

17,706

-8,569

18,718

764

-2,550

5,635

-26,099

1,091

-29,508

-21,286

23,815

2,889

14,744

-6,441

-6,911

7,890

-633

-10,823

-22,677

31,305

-25,708

18,849

-1,747

17,277

Change in outstanding checks

3,227

1,650

6,486

4,338

-5,421

11,077

-4,721

227

-5,545

105

1,112

-1,541

982

-3,328

2,419

-3,526

-411

840

-20,944

1,496

4,964

-622

-4,737

4,318

-9,629

10,218

5,133

-1,635

1,543

3,350

-7,105

2,258

1,371

-5,445

5,202

4,272

5

Accrued payroll and other accrued liabilities

-4,859

3,452

-4,305

2,553

-8,740

2,199

1,379

4,451

-1,835

2,933

-697

198

136

-326

-326

1,374

4,208

-6,649

-4,435

-4,680

-2,747

11,859

-2,244

198

850

814

-2,526

2,016

539

790

-1,172

2,849

-2,067

-2,913

-5,463

-1,144

-3,633

Increase (Decrease) in Operating Capital, Total

16,974

-26,942

-40,297

-47,467

7,903

-10,749

17,595

41,017

56,528

-27,636

13,515

22,815

37,079

565

23,123

2,400

495

-36,205

-21,045

-26,318

-11,552

-17,902

35,338

10,909

36,653

-329

-6,326

-25,193

6,314

-41,687

-8,727

2,986

51,157

-

-

-

-

Net cash used for operating activities

-11,985

30,203

47,168

53,352

-1,165

12,636

-1,254

-18,428

-43,455

27,601

-8,159

-12,791

-25,692

-125

-20,221

7,688

2,845

38,148

24,458

30,311

14,568

19,419

-28,948

-2,066

-27,989

6,096

14,446

32,472

1,667

42,905

16,637

8,016

-39,817

25,628

7,692

-995

-16,485

Cash flows from (used for) investing activities:
Acquisition

-

0

133

0

11,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Capital expenditures

4,235

2,686

3,058

2,022

2,399

5,349

6,591

6,032

7,743

3,690

2,001

2,403

2,066

1,489

1,738

2,201

1,396

1,300

1,784

2,542

1,691

620

2,090

2,783

2,341

6,508

5,811

2,065

1,714

3,083

4,607

7,714

7,969

14,869

8,202

8,513

7,903

Proceeds from disposition of property and equipment

-

35

0

229

5

46

20

10

50

177

729

1

84

215

1

0

160

0

0

3

0

31

30

0

7

-

-

-

-

250

234

0

2

-670

687

10

2

Net cash used for investing activities

-4,235

-2,651

-3,191

-1,793

-13,394

-5,303

-6,571

-27,929

-7,693

-3,513

-1,272

-2,402

-1,982

-1,274

-1,737

-2,201

-1,236

-1,300

-1,784

-2,539

-1,691

-589

-2,060

-2,783

-2,334

-6,496

-5,811

-2,057

-1,714

-2,833

-4,373

-7,714

-7,967

-

-156,274

-8,503

-7,901

Cash flows from (used for) financing activities:
Credit facility revolver borrowings

107,391

103,202

108,998

129,904

194,840

169,085

143,615

155,618

129,549

76,486

89,360

115,911

105,463

76,387

102,728

70,995

57,188

28,280

73,845

96,837

112,410

126,135

188,255

202,811

115,525

110,430

105,790

105,148

101,864

97,435

134,455

457,530

-154,060

1,020,608

-212,659

-356,115

124,640

Credit facility revolver repayments

91,264

133,280

150,644

178,524

184,101

171,038

136,806

106,899

76,829

100,659

79,679

98,155

77,091

75,304

81,696

73,724

57,775

67,660

98,060

121,542

122,400

151,520

152,563

149,908

80,720

110,100

110,065

130,083

104,484

-

-

-

106,000

136,395

129,389

96,585

98,935

Principal payment under capital lease obligation

-

-

-

3

2

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

1,380

27

40

40

39

51

-

-

-

-

Term loan repayments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

46,667

2,187

2,188

2,187

2,188

2,187

2,187

2,187

2,187

2,188

-

-

-

-

Industrial revenue bond repayments

-

-

-

-

-

0

0

0

930

0

0

895

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Credit facility fees and expenses

-

0

0

0

-100

-101

0

-51

-19

-844

0

-125

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-3

-6

-118

-1,085

-

-

-

-

Proceeds from employee stock options

-

-

-

-

-

-

-

-

-

1

0

-1

10

12

0

11

23

16

0

5

9

-

10

-10

137

-336

247

94

117

-234

104

125

119

0

14

9

11

Proceeds from exercise of stock options (including tax benefits) and employee stock purchases

-

-

-

-

-

-

-

-

-

1

0

-1

10

12

0

11

23

16

0

5

9

10

10

-10

137

-336

247

94

117

-234

104

125

119

0

14

9

11

Repurchase of common stock

145

0

1

1,457

64

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Dividends paid

220

220

220

219

220

220

220

220

220

220

219

220

219

220

219

219

219

219

220

220

220

219

220

220

219

219

219

219

219

218

219

218

218

218

218

218

218

Net cash from financing activities

15,762

-30,298

-41,862

-50,299

10,353

-2,281

6,591

48,446

51,551

-25,236

9,462

16,515

28,163

869

20,813

-3,927

-783

-40,284

-24,560

-25,760

-10,201

-25,682

35,393

4,155

32,536

-2,413

-6,434

-29,416

-4,936

-36,122

-11,248

-1,742

44,637

-5,784

147,406

9,281

25,498

Cash and cash equivalents:
Net change

-458

-2,746

2,115

1,260

-4,206

5,052

-1,234

2,089

403

-1,148

31

1,322

489

-530

-1,145

1,560

826

-3,436

-1,886

2,012

2,676

-6,852

4,385

-694

2,213

-2,813

2,201

999

-4,983

3,950

1,016

-1,440

-3,147

6,192

-1,176

-217

1,112

Cash paid during the period
Interest paid

2,153

2,102

2,501

3,160

3,188

3,070

2,865

2,465

1,841

1,742

1,736

1,590

1,365

1,043

1,124

1,107

1,026

1,185

1,194

1,291

1,413

1,445

1,333

1,575

1,440

-

-

-

-

-

-

-

-

-

-

-

889

Proceeds from Income Tax Refunds

7

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income taxes paid

-

109

103

190

58

3,100

6,161

2,003

52

1,439

2,974

4,918

26

92

775

112

3

-128

280

374

39

944

1,287

2,402

25

-

-

-

-

-

-

-

-

-

-

-

22

Net cash paid for CTI acquisition

-

0

133

0

11,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-