Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.10.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities:    
Net income $ 35,647 $ 13,773
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization of long-lived assets 17,929 15,709
Amortization of deferred debt issuance costs 60 632
Loss on extinguishment of debt   1,638
Provision for bad debt 435 435
Gain on sale of equipment, net (1,117) (2,675)
Equity-based compensation expense 975 513
Earnings from investment in joint venture (666)  
Deferred income taxes (1,430) (52)
Changes in operating assets and liabilities, net of acquisition:    
Contracts receivable including retainage, net 14,055 12,902
Costs and estimated earnings in excess of billings on uncompleted contracts (6,128) (2,196)
Inventories (3,335) (3,098)
Other current assets (9,165) (4,063)
Other assets (12,079) (1,481)
Accounts payable (7,944) (4,033)
Billings in excess of costs and estimated earnings on uncompleted contracts 2,823 562
Accrued expenses and other current liabilities (6,048) (5,448)
Other long-term liabilities (352) (1,840)
Net cash provided by operating activities 23,660 21,278
Cash flows from investing activities:    
Purchases of property, plant and equipment (33,460) (18,786)
Proceeds from sales of equipment 2,889 3,744
Business acquisition, net of cash acquired (51,319)  
Investment in joint venture (400)  
Net cash used in investing activities (82,290) (15,042)
Cash flows from financing activities:    
Repayments of revolving credit facility (5,000) (5,410)
Proceeds from revolving credit facility   312
Proceeds from issuance of long-term debt, net of deferred issuance costs 21,917 54,616
Repayments of long-term debt (8,665) (58,139)
Proceeds from initial public offering of Class A common stock, net of offering costs 98,009  
Proceeds from sale of treasury stock 5 497
Common stock dividend paid   (31,292)
Net cash provided by (used in) financing activities 106,266 (39,416)
Net change in cash 47,636 (33,180)
Cash:    
Beginning of period 27,547 51,085
End of period 75,183 17,905
Supplemental cash flow information:    
Cash paid for interest 1,578 2,688
Cash paid for income taxes 12,557 9,325
Non-cash investing activities:    
Property, plant and equipment financed with accounts payable $ 152 $ 142