GLDD · As filed with the SEC
Great Lakes Dredge & Dock cash flow statement, by fiscal year
The statement as Great Lakes Dredge & Dock 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 | FY2025 Year ended Dec 31, 2025 | 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 |
|---|---|---|---|---|---|---|---|---|
| OPERATING ACTIVITIES: | ||||||||
| Net income | 73,469,000 | 57,265,000 | 13,906,000 | (34,055,000) | 49,432,000 | 66,103,000 | 49,339,000 | (6,293,000) |
| Loss on discontinued operations, net of income taxes | — | — | — | — | — | — | (6,329,000) | (17,309,000) |
| INCOME (LOSS) FROM CONTINUING OPERATIONS | — | — | — | — | 49,432,000 | 66,103,000 | 55,668,000 | 11,016,000 |
| Adjustments to reconcile net income to net cash flows provided by operating activities: | ||||||||
| Depreciation expense | — | — | 42,525,000 | 46,273,000 | 43,016,000 | 38,183,000 | — | — |
| Depreciation and amortization | 43,422,000 | 42,699,000 | — | — | — | — | 37,145,000 | 50,389,000 |
| Deferred income taxes | 25,182,000 | 16,398,000 | 3,733,000 | (9,270,000) | 12,311,000 | 20,508,000 | 15,134,000 | 5,760,000 |
| (Gain) loss on dispositions of property and equipment | — | — | — | — | (294,000) | (1,571,000) | 1,138,000 | 3,731,000 |
| Other non-cash restructuring items | — | — | — | — | — | — | — | 2,337,000 |
| Gain on sale of assets | (2,273,000) | (2,897,000) | (485,000) | 7,792,000 | — | — | — | — |
| Amortization of capitalized contract costs | 17,492,000 | 21,895,000 | — | — | — | — | — | — |
| Amortization of deferred financing fees | 3,060,000 | 2,581,000 | 965,000 | 1,299,000 | 2,349,000 | 1,611,000 | 2,746,000 | 3,504,000 |
| Unrealized foreign currency gain | — | — | — | — | — | — | — | (231,000) |
| Loss on extinguishment of debt | 10,822,000 | — | — | — | — | — | — | — |
| Share-based compensation expense | 11,470,000 | 8,580,000 | 6,316,000 | 4,288,000 | 5,188,000 | 6,754,000 | 6,908,000 | 4,643,000 |
| Changes in assets and liabilities: | ||||||||
| Accounts receivable | 47,861,000 | (63,220,000) | (9,921,000) | 38,064,000 | (43,963,000) | (19,205,000) | 44,994,000 | (8,364,000) |
| Contract revenues in excess of billings | (6,913,000) | (5,462,000) | (2,813,000) | (26,078,000) | (7,738,000) | (9,546,000) | (4,607,000) | 54,881,000 |
| Inventories | (436,000) | (4,898,000) | (11,000,000) | (14,255,000) | (2,706,000) | (2,383,000) | (1,939,000) | (921,000) |
| Prepaid expenses and other current assets | (9,810,000) | (7,510,000) | (10,250,000) | (7,636,000) | 10,873,000 | 1,466,000 | (8,539,000) | 11,976,000 |
| Accounts payable and accrued expenses | 14,172,000 | 8,689,000 | 1,376,000 | (1,966,000) | (698,000) | (3,328,000) | 12,546,000 | (1,480,000) |
| Billings in excess of contract revenues | 8,984,000 | (3,764,000) | 19,647,000 | (4,900,000) | (17,794,000) | (22,658,000) | 37,473,000 | 7,524,000 |
| Other noncurrent assets and liabilities | 10,176,000 | (294,000) | (6,574,000) | 2,097,000 | (969,000) | 3,013,000 | 3,120,000 | (3,093,000) |
| Net cash flows provided by operating activities of continuing operations | — | — | — | — | 49,007,000 | 78,947,000 | 201,787,000 | 141,672,000 |
| Net cash flows used in operating activities of discontinued operations | — | — | — | — | — | — | (9,238,000) | (4,019,000) |
| Cash provided by operating activities | 246,678,000 | 70,062,000 | 47,425,000 | 1,653,000 | 49,007,000 | 78,947,000 | 192,549,000 | 137,653,000 |
| INVESTING ACTIVITIES: | ||||||||
| Purchases of property and equipment | (147,218,000) | (125,145,000) | (150,840,000) | (143,006,000) | (116,658,000) | (47,621,000) | (49,412,000) | (49,422,000) |
| Proceeds from dispositions of property and equipment | 2,609,000 | 9,450,000 | 30,699,000 | 2,100,000 | 4,459,000 | 4,450,000 | 5,592,000 | 13,880,000 |
| Net cash flows used in investing activities of continuing operations | — | — | — | — | (112,199,000) | (43,171,000) | (43,820,000) | (35,542,000) |
| Net cash flows provided by investing activities of discontinued operations | — | — | — | — | — | — | 18,056,000 | 425,000 |
| Cash used in investing activities | (144,609,000) | (115,695,000) | (120,141,000) | (140,906,000) | (112,199,000) | (43,171,000) | (25,764,000) | (35,117,000) |
| FINANCING ACTIVITIES: | ||||||||
| Repayments of debt | — | — | — | — | (325,000,000) | — | — | (298,000) |
| Proceeds from issuance of debt | — | — | — | — | 325,000,000 | — | — | — |
| Deferred financing fees | (2,168,000) | (11,564,000) | — | (981,000) | (4,395,000) | — | (2,388,000) | — |
| Payment for extinguishment of debt | (3,111,000) | — | — | — | — | — | — | — |
| Taxes paid on settlement of vested share awards | (1,206,000) | (1,332,000) | (1,019,000) | (1,827,000) | (3,785,000) | (4,748,000) | (5,008,000) | (1,205,000) |
| Exercise of options and purchases from employee stock plans | 1,180,000 | 1,627,000 | 1,034,000 | 1,148,000 | 2,321,000 | 2,360,000 | 4,839,000 | 1,094,000 |
| Borrowings under revolving loans | 271,000,000 | 86,000,000 | 208,000,000 | 10,000,000 | — | — | — | 29,000,000 |
| Borrowings under Second Lien Credit Agreement | — | 100,000,000 | — | — | — | — | — | — |
| Repayments of Second Lien Term loan | (100,000,000) | — | — | — | — | — | — | — |
| Repayments of revolving loans | (251,000,000) | (141,000,000) | (118,000,000) | (10,000,000) | — | — | (11,500,000) | (112,500,000) |
| Net cash flows used in financing activities of continuing operations | — | — | — | — | (5,859,000) | (6,261,000) | (14,057,000) | (83,909,000) |
| Net cash flows used in financing activities of discontinued operations | — | — | — | — | — | — | (191,000) | (1,547,000) |
| Repurchases of common stock | (11,594,000) | — | — | — | — | (3,873,000) | — | — |
| Payments on finance lease obligations | (2,025,000) | (1,643,000) | (84,000) | — | — | — | — | — |
| Cash (used in) provided by financing activities | (98,924,000) | 32,088,000 | 89,931,000 | (1,660,000) | (5,859,000) | (6,261,000) | (14,248,000) | (85,456,000) |
| Effect of foreign currency exchange rates on cash and cash equivalents | — | — | — | — | — | — | — | 26,000 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 3,145,000 | (13,545,000) | 17,215,000 | (140,913,000) | (69,051,000) | 29,515,000 | 152,537,000 | 17,106,000 |
| Cash, cash equivalents and restricted cash at beginning of period | 10,216,000 | 23,761,000 | 6,546,000 | 147,459,000 | 216,510,000 | 186,995,000 | 34,458,000 | 17,352,000 |
| Cash, cash equivalents and restricted cash at end of period | 13,361,000 | 10,216,000 | 23,761,000 | 6,546,000 | 147,459,000 | 216,510,000 | 186,995,000 | 34,458,000 |
| Supplemental Cash Flow Information | ||||||||
| Cash paid for interest | — | — | 20,738,000 | 17,742,000 | 22,919,000 | — | — | — |
| Cash paid for interest | 30,325,000 | 29,729,000 | — | — | — | 26,430,000 | 24,942,000 | 30,855,000 |
| Cash paid for income taxes | 2,169,000 | 2,489,000 | 132,000 | 1,264,000 | 637,000 | 392,000 | 366,000 | 290,000 |
| Non-cash Investing and Financing Activities | ||||||||
| Property and equipment purchased but not yet paid | 9,888,000 | 13,211,000 | 6,000,000 | 8,686,000 | 7,010,000 | 6,693,000 | 6,473,000 | 7,303,000 |
| Repayments of debt with proceeds from sale-leaseback transactions | — | — | — | — | — | — | — | 13,034,000 |
As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.