CRAWA · As filed with the SEC
Crawford United cash flow statement, by fiscal year
The statement as Crawford United presents it in its 10-Q and 10-K: its own lines, labels and order. Tables over time lines up standardized figures across every filing.
Consolidated Statements of Cash Flow · USD
| USD | FY2024 Year ended Dec 31, 2024 | FY2023 Year ended Dec 31, 2023 | FY2022 Year ended Dec 31, 2022 | FY2021 Year ended Dec 31, 2021 | FY2020 Year ended Dec 31, 2020 | FY2019 Year ended Dec 31, 2019 | FY2018 Year ended Dec 31, 2018 | FY2017 Year ended Sep 30, 2017 |
|---|---|---|---|---|---|---|---|---|
| Cash Flows from Operating Activities | ||||||||
| Net Income | 13,597,967 | 13,294,793 | 6,561,403 | 5,653,298 | 5,839,387 | 6,979,863 | 3,613,710 | 1,408,396 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||
| Depreciation and amortization | 4,156,361 | 3,921,740 | 3,750,805 | 2,986,599 | 2,458,593 | 2,054,721 | 1,606,509 | 720,872 |
| Non-cash professional service expense | — | — | — | — | — | — | — | 7,884 |
| Loss on disposal of assets | — | — | — | — | — | 10,544 | — | — |
| Loss (Gain) on investments in equity securities | 367,407 | (7,330) | 860,273 | 188,615 | (585,107) | — | — | — |
| Reduction in carrying amount of right of use asset | 1,432,132 | 1,720,844 | 1,706,810 | — | — | — | — | — |
| Loss (Gain) on disposal of assets | 2,296 | (3,988) | 16,930 | — | — | — | 10,750 | 13,386 |
| Loss on disposal of operations | — | — | — | — | — | — | 1,160,574 | — |
| Write off of contingent liability | — | 0 | (750,000) | — | — | — | — | — |
| Forgiveness of PPP loan | — | — | 0 | (1,453,837) | — | — | — | — |
| Share-based compensation expense | 1,309,029 | 1,377,423 | 957,728 | 429,344 | 296,899 | 348,877 | 394,933 | 129,832 |
| Deferred income taxes | — | — | — | — | — | — | 1,124,910 | 693,398 |
| Non-cash acquisition of intangibles | — | — | — | (481,046) | — | — | — | — |
| Deferred income taxes | 80,810 | (1,074,308) | (1,872,770) | 702,061 | 222,094 | 548,715 | — | — |
| Changes in assets and liabilities: | ||||||||
| Accounts receivable | (49,290) | 2,212,974 | (2,745,949) | (5,307,593) | 2,751,191 | (4,164,533) | 761,496 | (2,434,029) |
| Inventories | 312,300 | 2,355,929 | (2,772,375) | (5,381,275) | (434,014) | (2,180,708) | (1,681,250) | 45,539 |
| Decrease (Increase) in costs in excess of billings | — | — | — | — | — | — | — | 2,341,305 |
| Contract assets | (648,351) | (1,538,046) | (1,173,244) | 1,624,500 | (1,313,178) | (339,030) | (477,358) | — |
| Decrease (Increase) in prepaid expenses & other assets | — | — | (638,306) | (1,752,084) | 80,311 | 125,324 | (697,202) | (335,159) |
| Prepaid expenses & other current assets | (168,989) | 218,736 | — | — | — | — | — | — |
| Right of use assets | 24,154 | (457,317) | — | (141,956) | — | — | — | — |
| Other noncurrent assets | 13,000 | 254,691 | — | — | — | — | — | — |
| Accounts payable | 1,534,690 | (2,849,665) | (1,981,556) | (1,757,213) | 2,752,081 | 747,632 | 1,578,467 | (962,207) |
| Increase (Decrease) in accrued payroll and related expenses | — | — | — | — | — | — | 454,624 | 49,498 |
| Increase (Decrease) in lease liability | — | — | — | 189,652 | — | — | — | — |
| Lease liabilities | (1,453,236) | (1,150,159) | 538,067 | — | — | — | — | — |
| Accrued income taxes | (2,268,630) | (699,413) | — | — | — | — | — | — |
| Other current liabilities | 224,222 | (27,551) | 527,621 | 705,576 | (996,956) | 32,328 | (424,208) | 224,674 |
| Increase (Decrease) in accrued income taxes | — | — | — | — | — | — | 251,663 | 38,933 |
| Unearned revenue | 598,767 | 1,241,838 | 1,097,850 | 2,061,533 | (1,178,576) | (3,269,190) | 2,656,442 | 688,402 |
| Total adjustments | 5,466,672 | 5,496,398 | 1,484,996 | (3,872,698) | 4,053,338 | (6,085,320) | 6,720,350 | 1,222,328 |
| Net Cash Provided by Operating Activities | 19,064,639 | 18,791,191 | 8,046,399 | 1,780,600 | 9,892,725 | 894,543 | 10,334,060 | 2,630,724 |
| Cash Flows from Investing Activities | ||||||||
| Cash paid for acquisition | — | — | — | — | — | — | (11,209,583) | — |
| Cash paid for business acquisitions | (10,910,735) | 0 | (4,331,739) | (6,138,102) | (9,400,000) | (50,001) | — | (10,250,000) |
| Capital expenditures | — | (2,032,773) | (742,828) | (3,144,503) | (574,315) | (746,430) | (479,880) | (332,794) |
| Purchase of equity securities | — | — | — | — | (949,293) | — | — | — |
| Purchase of equity securities | — | — | 0 | (295,528) | — | — | — | — |
| Sale of equity securities | — | — | 0 | 123,069 | — | — | — | — |
| Proceeds from sale of property, plant and equipment | 72,000 | — | — | — | — | — | — | — |
| Sale of investments | 297,894 | — | — | — | — | — | — | — |
| Capital expenditures | (2,204,527) | — | — | — | — | — | — | — |
| Net Cash Used in Investing Activities | (12,745,368) | (2,032,773) | (5,074,567) | (9,455,064) | (10,923,608) | (796,431) | (11,689,463) | (10,582,794) |
| Cash Flows from Financing Activities | ||||||||
| Borrowings on PPP loans | — | — | — | 0 | 5,133,220 | — | — | — |
| Payments on related party notes | (824,226) | (1,855,942) | (4,071,885) | (2,745,023) | (2,187,960) | (1,592,298) | (362,427) | (1,140,170) |
| Borrowings on related party notes | — | — | 0 | 1,702,400 | — | — | — | — |
| Repayment of PPP loans | — | — | — | 0 | (3,679,383) | — | — | — |
| Borrowings on convertible notes | — | — | — | — | — | 266,880 | — | — |
| Payments on revolving credit facility | (23,224,222) | — | — | — | — | — | — | — |
| Borrowings on revolving credit facility | 18,112,035 | — | — | — | — | — | — | — |
| Payments on real property term loan | (76,881) | (21,667,362) | (7,120,834) | (1,434,184) | (6,393,747) | (4,385,211) | (9,823,106) | (1,775,000) |
| Borrowings on bank debt | — | 7,276,208 | 8,868,238 | 5,485,697 | 12,152,802 | 2,539,598 | 14,186,750 | 8,694,486 |
| Payments on contingent liability | — | 0 | (750,000) | — | — | — | — | — |
| Proceeds from options and warrants | — | — | 0 | 8,774 | — | 258,950 | — | — |
| Payments for debt issue costs | (97,284) | — | — | — | — | — | — | — |
| Share repurchase | (312,601) | (111,774) | (144,139) | (43,061) | (32,272) | — | — | (11,500) |
| Payments on capital lease | — | — | — | — | — | (11,158) | (32,298) | (67,974) |
| Net Cash Used in Financing Activities | (6,423,179) | (16,358,870) | (3,218,620) | 2,974,603 | 4,992,660 | (2,923,239) | 3,968,919 | 5,825,842 |
| Net Increase (decrease) in cash and cash equivalents | — | — | — | — | — | (2,825,127) | 2,613,516 | (2,126,228) |
| Cash and cash equivalents at beginning of year | — | — | — | — | 2,232,499 | 5,057,626 | 2,444,110 | 3,060,734 |
| Cash and cash equivalents at end of year | — | — | — | — | — | 2,232,499 | 5,057,626 | 934,506 |
| Net (Decrease) Increase in cash and cash equivalents | (103,908) | 399,548 | (246,788) | (4,699,861) | 3,961,777 | — | — | — |
| Cash and cash equivalents at beginning of period | 1,647,175 | 1,247,627 | 1,494,415 | 6,194,276 | 2,232,499 | — | — | — |
| Cash and cash equivalents at end of period | 1,543,267 | 1,647,175 | 1,247,627 | 1,494,415 | 6,194,276 | — | — | — |
| Supplemental disclosures of cash flow information | ||||||||
| Interest paid | 986,662 | 1,220,439 | 1,060,483 | 743,901 | 831,654 | 949,280 | 783,739 | 236,634 |
| Income taxes paid | 6,154,088 | 5,599,745 | 582,883 | 2,582,700 | 956,246 | 1,815,482 | 205,514 | — |
| Non-cash proceeds received for Class A and Class B Shares in exchange for the sale of certain assets | — | — | — | — | — | — | 1,640,939 | — |
| Non-cash seller notes issued for acquisition | — | — | — | — | — | — | 9,000,000 | — |
| Conversion of debt to equity | — | — | — | — | — | 848,000 | — | — |
| Supplemental disclosures of noncash financing and investing activity | ||||||||
| Paycheck Protection Program CARES Act | — | — | 0 | 1,453,837 | — | — | — | — |
| Additions to ROU assets obtained from new operating lease liabilities | 1,377,803 | 457,317 | 2,232,314 | — | — | — | — | — |
| Assumption of debt for business acquisitions | — | — | 4,450,000 | 2,041,116 | — | — | — | — |
| Derecognition of operating lease ROU asset and ROU liability upon building purchase | 4,226,294 | — | — | — | — | — | — | — |
| Purchase accounting adjustment to Goodwill for a change in inventory | 0 | 147,591 | — | — | — | — | — | — |
| Purchase accounting adjustment to Goodwill for a change in fixed assets | 0 | 73,520 | — | — | — | — | — | — |
| Issuance of Class A common shares in business acquisition | — | 0 | 1,000,012 | 1,059,000 | — | — | — | — |
| Issuance of Class A common shares for capital expenditures | 30,011 | 150,000 | — | — | — | — | — | — |
| Assumption of debt for purchase of real-estate | 5,869,250 | — | — | — | — | — | — | — |
As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.