VSEC Stock Cash Flow Statements

VSE Quarterly Cash Flow Statements Chart

Quarterly

Annual

Stock-Based Compensation

Operating Cash Flow

Investing Cash Flow

Financing Cash Flow

Free Cash Flow

Capital Expenditure

VSE Quarterly Cash Flow Statements Table

Quarterly

Annual

Unit: USD	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-03-31	2015-12-31	2014-12-31	2013-12-31	2013-03-31	2012-12-31	2011-12-31	2010-12-31

cash flows from operating activities:
net income	13,062,000	11,650,000	-2,777,000	-6,611,000	11,605,000	9,557,000	8,855,000	9,117,000	4,848,000	9,419,000	7,548,000	6,244,000	6,200,000	9,021,000	-12,366,000	5,111,000	6,013,000	8,108,000	-22,624,000	3,332,000	9,996,000	10,527,000	9,898,000	6,603,000	9,243,000	10,034,000	8,751,000	7,052,000	17,357,000	6,639,000	7,807,000	7,293,000	7,184,000	6,552,000	7,745,000	4,163,000	5,406,000	5,258,000	2,367,000	6,049,000	4,968,000
adjustments to reconcile net income to net cash from operating activities:
depreciation and amortization	8,351,000	7,543,000	6,923,000	5,945,000	5,955,000	5,450,000	5,764,000	6,247,000	6,293,000	6,427,000	6,303,000	6,547,000	6,604,000	6,729,000	6,323,000	5,944,000	5,922,000	5,810,000	5,928,000	6,475,000	6,305,000	6,985,000	6,207,000	7,430,000	6,240,000	6,261,000	6,239,000	6,484,000	6,298,000	6,380,000	6,493,000	6,711,000	6,531,000	6,241,000	6,326,000	4,496,000	4,961,000	5,099,000	5,486,000	5,085,000	2,458,000
amortization of debt issuance cost		332,000	333,000	332,000		608,000	207,000	213,000
deferred taxes	-156,000	-2,915,000	-3,162,000	-3,763,000	-800,000	354,000	-2,073,000	540,000	-360,000	11,000	-1,967,000	1,177,000	447,000	-931,000	-5,329,000	1,457,000	2,195,000	891,000	-4,572,000	1,592,000	725,000	-918,000	252,000	-564,000	362,000	-845,000	-1,171,000	283,000	-8,587,000	-973,000	-751,000	-223,000	1,901,000	-129,000	1,484,000	532,000	-451,000	-48,000	-2,374,000	861,000	-434,000
stock-based compensation	1,818,000	1,685,000	2,314,000	2,498,000	1,927,000	1,917,000	1,813,000	2,081,000	868,000	922,000	1,367,000	1,308,000	964,000	712,000	841,000	1,415,000	1,135,000	410,000	416,000	897,000	672,000	610,000	342,000	1,640,000	881,000	470,000	413,000	1,263,000	1,133,000	471,000	380,000	1,084,000	362,000	1,028,000	383,000	129,000	660,000	410,000	52,000	247,000	875,000
impairment and loss on sale of business segments
loss on sale of property and equipment	58,000	0	0	421,000																																46,000	11,000
lease abandonment costs
earn-out receivable adjustment
changes in operating assets and liabilities, net of impact of acquisitions:
receivables	-7,519,000	5,572,000	-13,688,000	-24,604,000	-619,000	-4,222,000	-11,281,000	-9,801,000	-12,100,000	11,101,000	-18,236,000	-7,371,000	-92,000	8,237,000	-14,771,000	-2,787,000	3,664,000	-520,000	4,751,000	-163,000	-951,000	4,219,000	-9,266,000	2,667,000	-4,492,000	-393,000	2,109,000	-978,000	-25,463,000	8,071,000	9,602,000	10,671,000	-15,111,000	1,593,000	-2,872,000	4,448,000	-5,727,000	9,869,000	17,246,000	-3,127,000	-11,862,000
contract assets	2,514,000	-973,000	-1,583,000	7,823,000
inventories	-4,860,000	-1,400,000	-5,497,000	-19,911,000	-26,662,000	-15,287,000	-12,350,000	-33,230,000	-30,790,000	-12,164,000	-6,824,000	-9,321,000	-13,503,000	-21,361,000	-16,247,000	-28,910,000	-22,606,000	-7,682,000	-11,629,000	-8,255,000	-14,679,000	-5,598,000	-16,144,000	-7,798,000	890,000	-2,096,000	-15,457,000	-18,895,000	2,934,000	287,000	5,310,000	-4,782,000	-7,405,000	-4,510,000	-1,560,000	-2,376,000	948,000	908,000	1,814,000	-1,951,000
prepaid expenses and other current assets and other assets
operating lease assets and liabilities	195,000	-10,080,000	-196,000	-166,000	-128,000	-195,000	-135,000	68,000
accounts payable and deferred compensation	36,104,000	-20,813,000	-21,371,000	-25,676,000	40,630,000	10,712,000	-9,172,000	-18,257,000	36,364,000	4,677,000	16,149,000	-20,997,000	15,255,000	25,972,000	-9,068,000	1,051,000	6,793,000	-14,802,000	11,117,000	395,000	-4,068,000	-2,356,000	11,496,000	2,653,000	7,567,000	-8,808,000	-17,845,000	11,681,000	18,854,000	-2,930,000	-18,556,000	-20,955,000	35,092,000	13,097,000	2,873,000	-3,653,000	5,215,000	-1,237,000	-13,881,000	-897,000	10,085,000
accrued expenses and other liabilities		13,875,000	5,522,000	-14,834,000
net cash from operating activities	55,375,000	10,176,000	-17,528,000	-79,060,000	27,942,000	15,320,000	-16,417,000	-48,674,000	12,257,000	15,932,000	-1,964,000	-18,174,000	12,921,000	23,445,000	-17,601,000	-36,367,000	526,000	12,427,000	16,050,000	6,758,000	555,000	13,387,000	1,281,000	2,771,000	15,434,000	7,045,000	-16,917,000	13,293,000	10,909,000	20,474,000	18,386,000	651,000	18,801,000	15,392,000	19,072,000	9,997,000	17,213,000	14,919,000	18,427,000	3,518,000	7,702,000
capex	-3,265,000	-5,765,000	-3,945,000	-7,729,000	-7,871,000	-4,658,000	-3,297,000	-2,840,000	-3,796,000	-4,670,000	-1,477,000	-1,269,000	-2,914,000	-2,448,000	-3,049,000	-2,109,000	-1,471,000	-1,128,000	-1,104,000	-724,000	-1,941,000	-1,386,000	-5,702,000	-601,000	-595,000	-642,000	-827,000	-1,053,000	-1,356,000	-1,135,000	-838,000	-414,000	-1,108,000	-1,428,000	-2,743,000	-689,000	-1,157,000	-1,631,000	-9,228,000	-2,815,000	-1,174,000
free cash flows	52,110,000	4,411,000	-21,473,000	-86,789,000	20,071,000	10,662,000	-19,714,000	-51,514,000	8,461,000	11,262,000	-3,441,000	-19,443,000	10,007,000	20,997,000	-20,650,000	-38,476,000	-945,000	11,299,000	14,946,000	6,034,000	-1,386,000	12,001,000	-4,421,000	2,170,000	14,839,000	6,403,000	-17,744,000	12,240,000	9,553,000	19,339,000	17,548,000	237,000	17,693,000	13,964,000	16,329,000	9,308,000	16,056,000	13,288,000	9,199,000	703,000	6,528,000
cash flows from investing activities:
purchases of property and equipment	-3,265,000	-5,765,000	-3,945,000	-7,729,000	-7,871,000	-4,658,000	-3,297,000	-2,840,000	-3,796,000	-4,670,000	-1,477,000	-1,269,000	-2,914,000	-2,448,000	-3,049,000	-2,109,000	-1,471,000	-1,128,000	-1,104,000	-724,000	-1,941,000	-1,386,000	-5,702,000	-601,000	-595,000	-642,000	-827,000	-1,053,000	-1,356,000	-1,135,000	-838,000	-414,000	-1,108,000	-1,428,000	-2,743,000	-689,000	-1,157,000	-1,631,000	-9,228,000	-2,815,000	-1,174,000
proceeds from the sale of business segments, net of cash divested
cash paid for acquisitions, net of cash acquired	-170,916,000	58,000			93,000	-206,963,000	43,000	-11,754,000					-104,000	-38,447,000	0	-14,785,000					-521,000	0	0	-112,660,000									0		-3,954,000					-12,000
net cash from investing activities	-176,142,000	-5,707,000			-7,778,000	-211,621,000	-1,697,000	-14,594,000	804,000	-3,508,000	-1,066,000	1,393,000	-1,793,000	-41,048,000	-2,323,000	-16,468,000	-425,000	-705,000	-1,478,000	22,827,000	-2,462,000	-1,386,000	-5,701,000	-113,258,000	-524,000	1,063,000	-781,000	-1,053,000	-1,313,000	-846,000	-438,000	-414,000	-1,039,000	-1,422,000	-6,463,000	-689,000	-1,157,000	-1,631,000	-9,228,000	-2,797,000	-1,367,000
cash flows from financing activities:
borrowings on bank credit facilities	212,071,000	107,284,000	208,799,000	211,082,000	234,074,000
repayments on bank credit facilities	-232,571,000	-120,784,000	-227,246,000	-159,135,000	-264,574,000
proceeds from issuance of common stock	164,306,000	1,000			454,000	129,110,000	208,000	248,000	413,000	0
payment of debt financing costs					-1,442,000								0				0	0						-1,702,000	0	-10,000	106,000	-1,798,000							0					-13,000
payment of taxes for equity transactions	125,000	-213,000	-466,000	-2,079,000	0	-82,000	0	-1,031,000
dividends paid	-2,041,000	-1,843,000	-1,599,000	-1,577,000	-1,575,000	-1,290,000	-1,288,000	-1,283,000	-1,279,000	-1,280,000	-1,277,000	-1,275,000	-1,143,000	-1,145,000	-1,142,000	-997,000	-995,000	-994,000	-993,000	-988,000	-988,000	-988,000	-878,000	-872,000	-869,000	-871,000	-763,000	-759,000	-757,000	-759,000	-650,000	-650,000	-647,000	-591,000	-592,000	-535,000	-480,000	-424,000	-424,000	-367,000	-312,000
net cash from financing activities	141,890,000	-15,555,000	141,180,000	48,291,000	-33,063,000	212,790,000	21,922,000	63,322,000	-12,673,000	-12,705,000	2,903,000	16,761,000	-10,993,000	17,649,000	19,914,000	52,804,000	-274,000	-11,384,000	-14,902,000	-29,776,000	1,546,000	-11,666,000	4,351,000	111,154,000		-7,843,000	17,701,000	-12,243,000	-9,444,000	-19,873,000	-17,688,000	-208,000	-17,887,000	-14,123,000	-12,063,000	-9,373,000	-16,116,000	-13,360,000	-8,564,000	-586,000	-2,534,000
net increase in cash and cash equivalents	21,123,000	-11,086,000	8,424,000	2,639,000	-12,899,000	16,489,000	3,808,000	54,000	388,000				135,000				-173,000	338,000	-330,000	-191,000	-361,000	335,000	-69,000	667,000	-727,000			-3,000	152,000	-245,000	260,000	29,000		-153,000	546,000	-65,000	-60,000		635,000		3,801,000
cash and cash equivalents, beginning of period	0	0	0	7,930,000	0	0
cash and cash equivalents, end of period	21,123,000	-11,086,000	8,424,000	10,569,000	-12,899,000	16,489,000
supplemental disclosure of noncash investing and financing activities:
note receivable from the sale of business segment
earn-out receivable from the sale of business segment
(a) the cash flows related to discontinued operations and held-for-sale assets and liabilities have not been segregated, and remain included in the major classes of assets and liabilities. accordingly, the consolidated statements of cash flows include the results of continuing and discontinued operations. see note "discontinued operations".
amortization of debt issuance costs
specific benefit from inventory
impairment and loss on sale of business segment	2,536,000	0	0	16,867,000
lease abandonment and termination costs	0
accrued expenses and other current and noncurrent liabilities					1,092,000	-2,489,000	6,429,000	-9,484,000	11,946,000	1,008,000	-25,000	-2,590,000	-6,545,000	-2,561,000	2,020,000	7,999,000		728,000	8,687,000	-4,961,000		4,675,000	-1,069,000	-1,675,000
proceeds from the sale of business segment	-1,961,000	0	981,000	41,137,000
proceeds from payments on notes receivable									4,600,000	1,162,000	411,000	2,662,000	1,356,000	412,000	726,000	412,000
earn-out obligation payments											-500,000	-500,000	0				0	0	0	-31,701,000															0	0	0		660,000	0
benefit from inventory					0	0
other current assets and other assets		6,352,000	2,797,000	-17,381,000	-5,313,000	3,396,000	-2,683,000	1,409,000
proceeds from the payment on notes receivable						0
(a) the cash flows related to discontinued operations and held-for-sale assets and liabilities have not been segregated, and remain included in the major classes of assets and liabilities. accordingly, the consolidated statements of cash flows include the results of continuing and discontinued operations.
net cash provided (used) in investing activities				33,408,000
gain on sale of property and equipment													-16,000				-123,000	72,000	127,000	-1,127,000																					7,000
proceeds from the sale of property and equipment													-131,000	185,000	0	14,000	28,000	423,000	0	2,424,000	0	0	1,000	3,000	71,000	5,000			43,000	289,000			69,000	6,000	234,000					30,000
(a) the cash flows related to discontinued operations and held-for-sale assets and liabilities have not been segregated and remain included in the major classes of assets and liabilities. accordingly, the consolidated statements of cash flows include the results of continuing and discontinued operations.
unbilled receivables						5,519,000	-2,533,000	2,423,000	5,777,000	-2,774,000	-10,099,000	671,000	-1,058,000	-106,000	12,963,000	-17,341,000	4,595,000	14,906,000	2,234,000	-2,041,000	8,303,000	-8,190,000	-1,511,000	-3,195,000	-6,592,000	1,694,000	-3,985,000	13,589,000
borrowings on loan agreement							146,062,000	176,751,000	162,172,000	121,857,000	124,123,000	112,071,000	97,488,000	135,582,000	112,066,000	146,431,000	92,320,000	105,561,000	103,970,000	131,148,000	369,758,000	81,775,000	106,128,000	194,598,000	70,522,000	109,395,000	111,885,000	247,669,000	90,018,000	76,984,000	85,549,000	96,124,000	90,491,000	49,699,000
repayments on loan agreement							-123,060,000	-111,363,000	-172,793,000	-132,982,000	-119,567,000	-93,005,000	-107,338,000	-115,980,000	-90,719,000	-144,257,000	-91,544,000	-115,951,000	-117,151,000	-127,692,000	-367,224,000	-92,453,000	-102,333,000	-80,183,000	-84,915,000	-115,987,000	-93,166,000	-256,368,000	-98,372,000	-95,771,000	-102,267,000	-94,875,000	-107,438,000	-62,468,000
cash and cash equivalents at beginning of year								478,000
cash and cash equivalents at end of year								532,000
loss on sale of a business entity and certain assets																	0	0	678,000	7,536,000
goodwill and intangible asset impairment																	0	0
earn-out obligation fair value adjustment																	-1,905,000	-1,695,000
other current assets and noncurrent assets									-10,711,000	-2,695,000	2,726,000	6,158,000	4,665,000	-2,219,000	-6,387,000	-10,306,000	397,000	6,201,000	-11,097,000	2,777,000	-6,924,000	3,433,000	1,076,000	-4,990,000	1,271,000	-709,000	1,058,000	3,169,000	7,073,000	-13,117,000	4,715,000	5,010,000	-5,005,000	-5,330,000	1,921,000	1,933,000	2,541,000	-2,760,000	6,300,000	3,611,000	523,000
proceeds from sale of a business entity and certain assets
inventory valuation adjustment										0				0
loss on sale of ppe
payments of taxes for equity transactions										-50,000	-362,000	-530,000		0	-291,000	-390,000		0	-92,000	-543,000		0	-268,000	-687,000		0	0	-641,000		0	0	-500,000		-499,000
cash and cash equivalents at beginning of period										0	0	518,000		0	0	378,000		0	0	734,000		0	0	162,000		0	0	624,000		0	0	428,000		740,000				1,501,000
cash and cash equivalents at end of period										-281,000	-127,000	498,000		46,000	-10,000	347,000		338,000	-330,000	543,000		335,000	-69,000	829,000		265,000	3,000	621,000		-245,000	260,000	457,000		587,000				1,429,000
earn-out obligation in connection with acquisitions
net decreases in cash and cash equivalents											-127,000	-20,000
proceeds from issuance of common stock, net of underwriters' discounts and issuance costs													0	0	0	52,017,000
proceeds from the sale of a business entity and certain assets																		0	-374,000	21,127,000
net decrease in cash and cash equivalents															-10,000	-31,000																						-72,000
gain on sale of contract																									0
accrued expenses and other current liabilities																									495,000	3,558,000	3,381,000	-9,949,000	-8,354,000	16,021,000	3,746,000	-3,851,000	-4,386,000	-1,429,000	3,730,000	1,749,000	3,788,000	-2,612,000	-4,880,000
long-term lease obligations																									-431,000	-421,000	-410,000	-406,000	-336,000	-375,000	-360,000	-307,000	-362,000	-337,000	-349,000	-272,000	-1,061,000	-245,000	443,000	-108,000
other long-term liabilities
proceeds from the sale of contract																									0
payments on financing lease obligations
earn-out obligation adjustment																				301,000													0	-1,384,000	-609,000	301,000	75,000	277,000	192,000	-953,000
payments on capital lease obligations																										-370,000	-361,000	-346,000		-327,000	-320,000	-307,000	-293,000	-264,000	-256,000	-221,000	-188,000	-173,000	-188,000
net cash from by financing activities
changes in operating assets and liabilities:
earn-out obligations
changes in operating assets and liabilities, net of impact of acquisition:
other liabilities																																				-1,499,000	220,000		648,000	103,000	-71,000
earn-out obligation payment
impairment of goodwill and intangible assets																																							5,014,000
earn-out obligation
borrowings on loan arrangement																																				84,961,000	72,840,000	69,245,000	61,246,000	59,830,000	15,312,000
repayments on loan arrangement																																				-93,578,000	-88,031,000	-82,008,000	-69,858,000	-60,036,000	-17,534,000
assets held for sale
cash paid for acquisition, net of cash acquired																																									-363,000
adjustments to reconcile net income to net cash
provided by operating activities:
(gain) loss on sale of property and equipment
excess tax benefits on stock-based compensation
changes in operating assets and liabilities,
net of impact of acquisitions:
proceeds from the exercise of stock options
accrued expenses																																									1,195,000
used in operating activities:
contingent consideration payments																																									0
supplemental cash flow disclosures
cash paid for:
interest
income taxes
supplemental disclosure of cash flow information:
non-cash financing and investing activities:
landlord financed construction in progress
contract inventories
cash paid for acquired businesses, net of cash acquired

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