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3/25/22, 9:42 AM
<br />Table of Contents
<br />CONSTRUCTION PARTNERS, INC.
<br />CONSOLIDATED STATEMENTS OF CASH FLOWS
<br />(in thousands)
<br />Cash flows from operating activities:
<br />Net income
<br />Adjustments to reconcile net income to net cash provided by operating activities:
<br />Depreciation, depletion, accretion and amortization
<br />Amortization of deferred debt issuance costs
<br />Unrealized loss (gain) on derivative instruments
<br />Provision for bad debt
<br />Gain on sale of equipment
<br />Equity -based compensation expense
<br />Earnings from investment in joint venture
<br />Distribution of earnings from investment in joint venture
<br />Deferred income taxes
<br />Other non-cash adjustments
<br />Changes in operating assets and liabilities:
<br />Contracts receivable including retainage
<br />Costs and estimated earnings in excess of billings on uncompleted contracts
<br />Inventories
<br />Prepaid expenses and other current assets
<br />Other assets
<br />Accounts payable
<br />Billings in excess of costs and estimated earnings on uncompleted contracts
<br />Accrued expenses and other current liabilities
<br />Other long-term liabilities
<br />Net cash provided by operathig activities, net of acquisitions
<br />Cash flows from investing activities:
<br />Purchases of property, plant and equipment
<br />Acquisition of liquid asphalt terminal assets
<br />Proceeds from sale of equipment
<br />Business acquisitions, net of cash acquired
<br />Return of investment in joint venture
<br />Net cash used in investing activities
<br />Cash flows from financing activities:
<br />Proceeds from issuance of long-term debt, net of debt issuance costs and discount
<br />Principal payments of tong -term debt
<br />Payment of treasury stock purchase obligation
<br />Proceeds from sale of stock
<br />Net cash provided by (used in) financing activities
<br />Net change in cash and cash equivalents
<br />Cash and cash equivalents:
<br />Beginning of year
<br />End of year
<br />Supplemental cash flow information:
<br />Cash paid for interest
<br />Cash paid for income taxes
<br />Cash paid for operating lease liabilities
<br />Non-cash items:
<br />Operating lease right -of -use assets obtained in exchange for operating lease liabilities
<br />Property, plant and equipment financed with accounts payable
<br />Amounts payable to sellers in business combinations
<br />Non -compete agreements to seller in business combination
<br />See notes to consolidated financial statements.
<br />46
<br />road -20210930
<br />For the Fiscal Year landed September 30,
<br />2021 2020 2019
<br />$ 20,177 $
<br />40,297 $
<br />43,121
<br />49,806
<br />39,301
<br />31,231
<br />275
<br />170
<br />109
<br />(3,209)
<br />1,900
<br />565
<br />784
<br />705
<br />995
<br />(2,043)
<br />(1,616)
<br />(1,909)
<br />3,549
<br />1,570
<br />9.57
<br />(10)
<br />(603)
<br />(1,337)
<br />100
<br />540
<br />-
<br />3,745
<br />3,3 t0
<br />2,997
<br />(46)
<br />(5)
<br />-
<br />(27,074)
<br />7,407
<br />(20,586)
<br />(15,150)
<br />4,157
<br />(2,696)
<br />(3,932)
<br />(1,183)
<br />(8,826)
<br />(1,759)
<br />8,103
<br />993
<br />(2,928)
<br />500
<br />7,986
<br />20,201
<br />(5,710)
<br />6,932
<br />15
<br />2,589
<br />(7,623)
<br />3,848
<br />3,086
<br />2,117
<br />2,151
<br />655
<br />248
<br />48,500
<br />105,173
<br />55,274
<br />(56,332)
<br />(52,574)
<br />(42,479)
<br />-
<br />-
<br />(10,848)
<br />3,654
<br />3,041
<br />4,456
<br />(210,734)
<br />(30,191)
<br />(13,854)
<br />-
<br />361
<br />2,500
<br />(263,412)
<br />(79,363)
<br />(60,225)
<br />219,197
<br />72,299
<br />-
<br />(95,350)
<br />(30,412)
<br />(13,001)
<br />-
<br />-
<br />(569)
<br />-
<br />-
<br />3
<br />123,847
<br />41,887
<br />(13,567)
<br />(91,065)
<br />67,697
<br />(18,518)
<br />148,316
<br />80,619
<br />99,137
<br />$ 57,251 $
<br />148,316 $
<br />80,619
<br />$ 3,197
<br />$ 2,041
<br />$ 2,639
<br />$ 6,218
<br />$ 9,905
<br />$ 9,119
<br />$ 2,532
<br />$ 3,228
<br />$ -
<br />$ 2,338
<br />$ 1.,516
<br />$ -
<br />$ 3,408
<br />$ 2,761
<br />$ 904
<br />$ 1,457
<br />$ -
<br />$ -
<br />$ 1,200
<br />$ -
<br />$ -
<br />https://www.sec.gov/Archives/edgar/data/0001718227/000171822721000107/road-20210930.htm 82/144
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