GIFI · As filed with the SEC
Gulf Island Fabrication cash flow statement, by fiscal year
The statement as Gulf Island Fabrication 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 FLOWS · 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 |
|---|---|---|---|---|---|
| Cash flows from operating activities: | |||||
| Net income (loss) | 14,741,000 | (24,402,000) | (3,352,000) | (22,168,000) | (27,426,000) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||||
| Depreciation and amortization | 4,865,000 | 5,466,000 | 5,098,000 | 5,386,000 | 8,617,000 |
| Asset impairments | — | — | 484,000 | 22,750,000 | 3,310,000 |
| Shipyard Transactions | — | — | — | 22,800,000 | — |
| Change in allowance for doubtful accounts and credit losses | (28,000) | (410,000) | — | — | — |
| (Gain) loss on sale or disposal of assets held for sale and fixed assets, net | (3,907,000) | 27,000 | 19,000 | — | — |
| Shipyard Transactions | — | — | — | 2,581,000 | — |
| (Gain) loss on sale of fixed assets and assets held for sale, net | — | — | — | 33,000 | 289,000 |
| Gain on insurance recoveries | 0 | (571,000) | (1,200,000) | — | — |
| Gain on extinguishment of debt | — | — | — | (9,061,000) | — |
| Stock-based compensation expense | 1,777,000 | 1,991,000 | 2,302,000 | 1,708,000 | 1,126,000 |
| Changes in operating assets and liabilities: | |||||
| Contract receivables and retainage, net | 13,839,000 | (7,093,000) | (13,441,000) | (593,000) | 10,702,000 |
| Contract assets | (5,872,000) | 2,100,000 | (80,000) | (6,949,000) | (15,393,000) |
| Prepaid expenses, inventory and other current assets | 1,694,000 | (133,000) | 2,224,000 | 1,895,000 | 1,644,000 |
| Accounts payable | (2,608,000) | (9,000) | (1,088,000) | (11,491,000) | 10,042,000 |
| Contract liabilities | (4,192,000) | (2,726,000) | 1,548,000 | (6,882,000) | (11,142,000) |
| Accrued expenses and other current liabilities | (1,385,000) | 1,206,000 | (561,000) | (1,257,000) | (2,376,000) |
| Noncurrent assets and liabilities, net | (676,000) | 31,751,000 | (876,000) | (766,000) | 1,599,000 |
| Net cash provided by operating activities | 18,248,000 | 7,197,000 | (8,923,000) | (24,814,000) | (19,008,000) |
| Cash flows from investing activities: | |||||
| Capital expenditures | (5,344,000) | (2,876,000) | (3,086,000) | (1,483,000) | (11,212,000) |
| Proceeds from Shipyard Transaction | — | — | 886,000 | 32,992,000 | — |
| DSS Acquisition | — | — | — | (7,573,000) | — |
| Proceeds from sale of property and equipment | 9,614,000 | 456,000 | 2,035,000 | 4,466,000 | 2,020,000 |
| Recoveries from insurance claims | 326,000 | 245,000 | 1,200,000 | 1,000,000 | — |
| Purchases of short-term investments | (100,982,000) | (39,028,000) | (9,905,000) | — | (58,751,000) |
| Maturities of short-term investments | 70,430,000 | 40,700,000 | — | 8,000,000 | 70,552,000 |
| Net cash used in investing activities | (25,956,000) | (503,000) | (8,870,000) | 37,402,000 | 2,609,000 |
| Cash flows from financing activities: | |||||
| Proceeds from borrowings | — | — | — | — | 10,000,000 |
| Principal payments on long-term debt | (1,075,000) | — | — | (1,050,000) | — |
| Payment of financing cost | — | — | — | — | (71,000) |
| Payments on insurance finance arrangements | 0 | (1,257,000) | (1,738,000) | — | — |
| Tax payments for vested stock withholdings | (1,183,000) | (482,000) | (234,000) | (108,000) | (74,000) |
| Repurchases of common stock | (1,204,000) | (128,000) | — | — | — |
| Net cash used in financing activities | (3,462,000) | (1,867,000) | (1,972,000) | (1,158,000) | 9,855,000 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | (11,170,000) | 4,827,000 | (19,765,000) | 11,430,000 | (6,544,000) |
| Cash, cash equivalents and restricted cash, beginning of period | 39,651,000 | 34,824,000 | 54,589,000 | 43,159,000 | 49,703,000 |
| Cash, cash equivalents and restricted cash, end of period | 28,481,000 | 39,651,000 | 34,824,000 | 54,589,000 | 43,159,000 |
| Supplemental cash flow information: | |||||
| Deferred Transaction Price receivable from Shipyard Transaction | — | — | — | 886,000 | — |
| Forgiveness of principal and interest of PPP Loan | — | — | — | 9,061,000 | — |
| Interest paid | 635,000 | 49,000 | 149,000 | 264,000 | 376,000 |
| Income taxes paid (refunds received), net | — | — | — | — | (971,000) |
| Accounts payable excluded from capital expenditures | 326,000 | 383,000 | 217,000 | — | — |
| Reclassification of property, plant and equipment to assets held for sale | 0 | 5,640,000 | — | — | 2,115,000 |
| Accounts payable included in capital expenditures | — | — | — | 98,000 | 153,000 |
As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.