GLAE · As filed with the SEC
GlassBridge Enterprises cash flow statement, by fiscal year
The statement as GlassBridge Enterprises 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 | FY2022 Year ended Dec 31, 2021 | 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 Dec 31, 2017 | FY2016 Year ended Dec 31, 2016 | FY2015 Year ended Dec 31, 2015 |
|---|---|---|---|---|---|---|---|---|
| Cash Flows from Operating Activities: | ||||||||
| Profit or Loss | — | 29,000,000 | (63,600,000) | 23,100,000 | — | (18,600,000) | — | — |
| Net income (loss) | 29,000,000 | — | — | — | 4,100,000 | — | (125,200,000) | (194,000,000) |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||||||||
| Depreciation and amortization | — | — | — | — | — | 4,100,000 | 2,500,000 | 16,800,000 |
| Depreciation Expense | — | — | 800,000 | 100,000 | 2,200,000 | — | — | — |
| Depreciation Expense | 300,000 | 300,000 | — | — | — | — | — | — |
| Asset Impairment Charges | — | — | 42,300,000 | — | — | 3,800,000 | — | — |
| Stock-Based Compensation Expense | — | — | — | 200,000 | (300,000) | (100,000) | 800,000 | 1,700,000 |
| Deferred income taxes and valuation allowance | — | — | — | — | — | 0 | (200,000) | 13,000,000 |
| Goodwill, intangible and other asset impairments | — | — | — | — | — | — | 0 | 99,300,000 |
| Inventory write-offs | — | — | — | — | — | — | 0 | 9,700,000 |
| Bad debt expense | — | — | — | — | — | — | — | 5,200,000 |
| Bad debt expense (recoveries) | — | — | — | — | — | — | (200,000) | — |
| Loss on abandonment of unused property, plant and equipment | — | — | — | — | — | 1,600,000 | — | — |
| Unrealized gain on Arrive investment | — | — | — | (12,100,000) | — | — | — | — |
| Unrealized gain on SportBLX investment | — | — | — | (3,000,000) | — | — | — | — |
| Intangible assets impairment | — | — | — | — | 6,300,000 | 2,700,000 | — | — |
| Bad debt recoveries | — | — | — | — | — | 0 | — | — |
| Pension settlement and curtailments | — | — | — | — | (2,500,000) | 1,400,000 | 2,600,000 | 200,000 |
| Changes in fair value of contingent consideration | — | — | — | — | — | — | — | 0 |
| Gain on sale of land | — | — | — | — | — | — | — | 0 |
| Realized cumulative translation adjustment | — | — | — | — | — | 0 | 75,800,000 | — |
| Gain on sale of assets and business | — | — | — | — | — | (1,600,000) | — | (4,500,000) |
| RDX Storage | — | — | — | — | — | — | 0 | — |
| IronKey | — | — | — | — | — | — | (3,800,000) | — |
| Gain from TDK transaction (non-cash) | — | — | — | — | — | — | 0 | (9,100,000) |
| Payment-in-Kind interest | — | 100,000 | — | — | — | — | — | — |
| Gain on Chapter 11 reorganization | — | (20,400,000) | — | — | — | — | — | — |
| Net Cash from Operating Activities | 100,000 | — | — | — | — | — | — | — |
| Gain on Chapter 11 reorganization | (20,400,000) | — | — | — | — | — | — | — |
| Gain on sale and deconsolidation of SportBLX | (16,700,000) | (16,700,000) | — | — | — | — | — | — |
| Bank Loan forgiveness | — | (400,000) | — | — | — | — | — | — |
| Loss on sale of investments | — | — | 1,900,000 | — | — | — | — | — |
| Defined benefit plan adjustment | — | — | 8,500,000 | — | — | — | — | — |
| Gain on sale of assets and businesses | — | — | — | (10,400,000) | (6,400,000) | — | — | — |
| Short term investment | — | — | — | — | 700,000 | 21,300,000 | (22,000,000) | — |
| Net Cash from Operating Activities | — | — | — | — | (200,000) | 100,000 | 1,600,000 | (600,000) |
| Bank Loan forgiveness | (400,000) | — | — | — | — | — | — | — |
| Change in non-controlling interest | (700,000) | (700,000) | — | — | — | — | — | — |
| Changes in operating assets and liabilities: | ||||||||
| Accounts receivable | — | — | (200,000) | (100,000) | 300,000 | 1,900,000 | 18,000,000 | 101,200,000 |
| Inventories | — | — | — | — | 800,000 | 600,000 | 6,400,000 | 35,200,000 |
| Assets held for sale | — | — | — | — | — | — | 0 | (19,400,000) |
| Other assets | — | — | — | — | (2,300,000) | 8,800,000 | 5,600,000 | 29,000,000 |
| Prepaid expenses | — | — | 300,000 | (1,600,000) | — | — | — | — |
| Other current assets | 400,000 | 400,000 | 600,000 | — | — | — | — | — |
| Other assets | 100,000 | 100,000 | 1,200,000 | 800,000 | — | — | — | — |
| Accounts payable | 100,000 | 100,000 | (400,000) | (5,600,000) | (700,000) | (1,000,000) | (14,400,000) | (50,400,000) |
| Other liabilities | — | — | — | — | (12,900,000) | (28,600,000) | (32,800,000) | (41,500,000) |
| Restricted cash | — | — | — | — | — | — | 500,000 | (9,600,000) |
| Other current liabilities | — | — | — | (2,700,000) | — | — | — | — |
| Change in Other Working Capital | 1,600,000 | 1,600,000 | 1,100,000 | — | — | — | — | — |
| Net cash used in operating activities | (6,600,000) | (6,600,000) | (7,500,000) | (11,300,000) | (10,500,000) | (3,600,000) | (84,800,000) | (17,800,000) |
| Cash Flows from Investing Activities: | ||||||||
| Proceeds from Investments | — | — | 200,000 | — | — | — | — | — |
| Proceeds from fund distribution | — | — | 2,000,000 | 1,300,000 | — | — | — | — |
| Disbursement related to disposal group | — | — | (1,800,000) | (800,000) | — | — | — | — |
| Proceeds from Sale of PP&E | — | — | — | 1,200,000 | 5,300,000 | 2,000,000 | 25,800,000 | 3,300,000 |
| Recovery of investments | — | — | — | — | — | — | — | 0 |
| Acquisitions, net of cash acquired | — | — | — | — | — | — | 0 | (3,100,000) |
| Proceeds from sale of unsecured claims from related party pursuant to Chapter 11 reorganization | 500,000 | 500,000 | — | — | — | — | — | — |
| Proceeds from sale of platform code to a related party | 200,000 | 200,000 | — | — | — | — | — | — |
| Proceeds from sale of SportBLX to a related party | 200,000 | 200,000 | — | — | — | — | — | — |
| Net Cash from Investing Activities | 700,000 | 700,000 | — | — | — | — | — | — |
| Proceeds from bankruptcy trust pursuant to Chapter 11 reorganization | 6,600,000 | 6,600,000 | — | — | — | — | — | — |
| Net Cash from Investing Activities | 400,000 | 400,000 | — | — | — | — | — | — |
| Purchase of property and equipment | — | — | (1,700,000) | — | (200,000) | (1,100,000) | (800,000) | (3,000,000) |
| Purchase of SportBLX | — | — | — | (3,700,000) | — | — | — | — |
| Purchase of investments | — | — | (1,100,000) | (1,300,000) | — | (4,000,000) | — | — |
| Net cash provided by (used in) investing activities | 8,600,000 | 8,600,000 | (2,400,000) | (3,300,000) | 5,100,000 | (3,100,000) | 25,000,000 | (2,800,000) |
| Cash Flows from Financing Activities: | ||||||||
| Purchase of treasury stock | — | — | — | — | — | (100,000) | (200,000) | (1,700,000) |
| Debt issuance costs | — | — | — | — | — | — | — | 0 |
| Debt borrowings | — | — | — | — | — | — | 0 | 16,500,000 |
| Debt repayments | — | — | — | — | — | 0 | (200,000) | (35,000,000) |
| Contingent consideration payments | — | — | — | — | — | — | — | 0 |
| Exercise of stock options | — | — | — | — | — | — | 0 | 0 |
| Capital contributions from noncontrolling interest | — | — | — | — | — | 5,600,000 | — | — |
| Restructuring Expense | 300,000 | 300,000 | — | — | — | — | — | — |
| Proceeds from GHI LLC note payable | — | 3,300,000 | 5,400,000 | — | — | — | — | — |
| Proceeds from Debt Issuance | 3,300,000 | — | 16,000,000 | 10,200,000 | — | — | — | — |
| Repayment of Orix note payable | — | — | (16,000,000) | — | — | — | — | — |
| Proceeds from Debt Issuance | — | — | 400,000 | — | — | — | — | — |
| Proceeds from Debt Issuance | — | — | 400,000 | — | — | — | — | — |
| Proceeds from sale of equity interest in Adara Enterprises Corp | — | — | — | 4,600,000 | — | — | — | — |
| Payment to satisfy in full the Stock Purchase Agreement notes payable | (3,400,000) | (3,400,000) | — | — | — | — | — | — |
| Payment to satisfy $1,500,000 of related party debt | (100,000) | (100,000) | — | — | — | — | — | — |
| Proceeds from Stock Issuance | 200,000 | 200,000 | — | — | — | — | — | — |
| Net cash provided by financing activities | 300,000 | 300,000 | 6,200,000 | 14,800,000 | — | 5,500,000 | (400,000) | (20,200,000) |
| Effect of exchange rate changes on cash and cash equivalents | — | — | — | — | — | 0 | (200,000) | (3,400,000) |
| Net change in cash and cash equivalents | — | — | — | — | — | (1,200,000) | (60,400,000) | (44,200,000) |
| Cash and cash equivalents — beginning of year | 4,100,000 | 1,300,000 | 5,500,000 | 4,900,000 | 8,800,000 | 10,000,000 | 70,400,000 | 114,600,000 |
| Net change in cash and cash equivalents | 2,300,000 | 2,300,000 | (3,700,000) | 200,000 | (5,400,000) | — | — | — |
| Cash and cash equivalents — beginning of year | 1,800,000 | 1,800,000 | 5,500,000 | 5,300,000 | — | — | — | — |
| Cash and cash equivalents — end of year (a) | 4,100,000 | 4,100,000 | 1,800,000 | 5,500,000 | — | — | — | — |
| Supplemental disclosures of cash paid during the year: | ||||||||
| Income Tax Expense | (600,000) | (600,000) | (600,000) | (1,100,000) | 600,000 | — | — | — |
| Net Cash from Financing Activities | — | — | — | — | — | 10,100,000 | — | — |
| Interest Expense | 600,000 | 600,000 | 300,000 | — | — | — | — | — |
| Total non-cash related to ESW note payable | — | — | 4,600,000 | — | — | — | — | — |
| Payment of accrued interest to Orix PTP Holdings, LLC | — | — | 800,000 | — | — | — | — | — |
| Payment of deferred financing costs | — | — | 200,000 | — | — | — | — | — |
| Total non-cash related to ESW note payable | — | — | 5,600,000 | — | — | — | — | — |
| Disposition of AAM to a related party including Orix notes payable | — | — | 10,500,000 | — | — | — | — | — |
| Net Cash from Investing Activities | — | — | — | 17,600,000 | — | — | — | — |
| Recognition of non-controlling interest - SportBLX | — | — | — | 23,700,000 | — | — | — | — |
| Recognition of non-controlling interest - Adara Enterprises Corp | — | — | — | 1,000,000 | — | — | — | — |
| Non-cash investing and financing activities during the period: | ||||||||
| Extinguishment of ESW note payable in Chapter 11 reorganization | (11,000,000) | (11,000,000) | — | — | — | — | — | — |
| Extinguishment of debtor-in-possession loan in Chapter 11 reorganization | (300,000) | (300,000) | — | — | — | — | — | — |
| Forgiveness of Bank Loan | (400,000) | (400,000) | — | — | — | — | — | — |
| Extinguishment of Stock Purchase Agreement Notes Payable | (14,200,000) | (14,200,000) | — | — | — | — | — | — |
| Recognition of related party debt and accrued interest payable to Fintech Debt Corp. | 4,600,000 | 4,600,000 | — | — | — | — | — | — |
| Extinguishment of related party debt and accrued interest payable to Fintech Debt Corp. | (4,600,000) | (4,600,000) | — | — | — | — | — | — |
| Total non-cash investing and financing activities during the period | (25,900,000) | (25,900,000) | 16,100,000 | 42,300,000 | — | — | — | — |
| Current assets: | ||||||||
| Cash and cash equivalents | 4,100,000 | 4,100,000 | 1,300,000 | 5,500,000 | — | 8,800,000 | 10,000,000 | 70,400,000 |
| Restricted cash in other current assets | — | — | 500,000 | — | — | — | — | — |
| Total cash and cash equivalents | 4,100,000 | 4,100,000 | 1,800,000 | 5,500,000 | — | — | — | — |
As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.