Page 23 - Board of Directors Orientation

FINANCIALS

CONSOLIDATED STATEMENTS OF CASH FLOWS ABOUT HASKELL
2020 2019 2020 2019
Cash flows from operating activities Cash flows from investing activities
Net income $14,207,305 $12,299,179 Proceeds from sale of 10,352,911 3,200,000
interest in subsidiary
Adjustments to reconcile net income
to net cash from operating activities Purchases of property and equipment (4,731,288) (4,402,339)
Depreciation and amortization 10,246,138 9,491,218 Proceeds from sale of equipment - 101,490
Share based compensation expense 1,701,394 2,408,267 Purchase of investment securities (15,942,853) (734,578) STRATEGIC VISION
ESOP share allocation 2,015,805 1,748,778 Proceeds from securities 10,572,724 -
available for sale
Loss on sale of assets 9,601 -
Net cash from investing activities 251,494 (1,835,427)
Gain on investment securities (555,151) -
Cash flows from financing activities
Bad debt (recovery) expense (10,878) 160,467
Net borrowings on line of credit 5,000,000 10,000,000
Gain on sale of subsidiary/division (6,973,221) (3,112,728)
Issuance of common stock 867,762 4,167,005
Change in assets and liabilities:
Redemption of common stock (8,327,092) (11,231,205)
Accounts and notes receivable 103,111,474 (84,520,486)
Distributions (6,481,756) - FINANCIALS
Billings relative to costs
and estimated earnings on (15,249,559) 81,474,542 Other - 3,070
contracts in process
Net cash from financing activities (8,941,086) 2,938,870
Retainages receivable 19,818,058 (21,743,480)
Effect of exchange rate changes - (118,713)
Inventories 1,384,772 (23,756) on cash and cash equivalents
Other current assets (10,189,914) (10,045,662) Net change in cash and cash equivalents 53,411,551 52,843,027
Noncurrent assets (3,647,026) (8,090,539) Cash and cash equivalents 119,025,274 66,182,247
at beginning of year
Noncurrent liabilities 1,527,144 (1,201,055)
Cash and cash equivalents at end of year $172,436,825 $119,025,274 GOVERNANCE
Accounts payable (56,068,577) 74,911,108
Supplemental disclosures of cash flow information
Accrued liabilities 773,778 (1,897,556)
Cash paid during the years for interest $179,077 $311,892
Net cash from operating
activities 62,101,143 51,858,297 Cash paid during the years for taxes 4,691,663 1,368,664
Supplemental disclosures of non cash flow activity
Stock issuances in exchange $1,703,138 $3,635,149
for notes receivable BOARD OF DIRECTORS

2021 Board of Directors Orientation | Haskell 21