Contact:
|
Amy Agallar
|
(414) 347-3706
|
Sensient Technologies Corporation
|
Page 2
|
Earnings Release – Quarter Ended December 31, 2021
|
|
February 11, 2022
|
|
Reported
|
||||||||
Revenue
|
Quarter
|
Year-to-Date
|
||||||
Flavors & Extracts
|
-6.1%
|
-0.4%
|
||||||
Color
|
14.4%
|
8.8%
|
||||||
Asia Pacific
|
11.1%
|
11.6%
|
||||||
Total Revenue
|
1.7%
|
3.6%
|
Adjusted
Local Currency (1)
|
||||||||
Revenue
|
Quarter
|
Year-to-Date
|
||||||
Flavors & Extracts
|
8.0%
|
|
9.4%
|
|||||
Color
|
15.8%
|
9.4%
|
||||||
Asia Pacific
|
15.0%
|
|
10.1%
|
|||||
Total Revenue
|
10.7%
|
|
9.1%
|
|||||
(1) Adjusted local currency percentage changes are described in more detail in the “Reconciliation of Non-GAAP Amounts” at the end of this release.
|
Sensient Technologies Corporation | Page 3 |
Earnings Release – Quarter Ended December 31, 2021
|
|
February 11, 2022
|
Sensient Technologies Corporation
|
Page 4 |
Earnings Release – Quarter Ended December 31, 2021
|
|
February 11, 2022
|
(2) |
See “Reconciliation of Non-GAAP Amounts” at the end of this release for more information.
|
Sensient Technologies Corporation
|
Page 5
|
Earnings Release – Quarter Ended December 31, 2021
|
|
February 11, 2022
|
Sensient Technologies Corporation
|
Page 6
|
Earnings Release – Quarter Ended December 31, 2021
|
|
February 11, 2022
|
Sensient Technologies Corporation
|
Page 7
|
(In thousands, except percentages and per share amounts)
|
|
(Unaudited)
|
|
Consolidated Statements of Earnings
|
Three Months Ended December 31,
|
Year Ended December 31,
|
||||||||||||||||||||||
2021
|
2020
|
% Change
|
2021
|
2020
|
% Change
|
|||||||||||||||||||
Revenue
|
$
|
340,448
|
$
|
334,668
|
1.7%
|
|
$
|
1,380,264
|
$
|
1,332,001
|
3.6%
|
|
||||||||||||
Cost of products sold
|
228,065
|
230,674
|
(1.1%)
|
|
925,603
|
908,254
|
1.9%
|
|
||||||||||||||||
Selling and administrative expenses
|
71,963
|
69,179
|
4.0%
|
|
284,633
|
271,091
|
5.0%
|
|
||||||||||||||||
Operating income
|
40,420
|
34,815
|
16.1%
|
|
170,028
|
152,656
|
11.4%
|
|
||||||||||||||||
Interest expense
|
2,752
|
3,399
|
12,544
|
14,811
|
||||||||||||||||||||
Earnings before income taxes
|
37,668
|
31,416
|
157,484
|
137,845
|
||||||||||||||||||||
Income taxes
|
10,439
|
6,247
|
38,739
|
28,373
|
||||||||||||||||||||
Net earnings
|
$
|
27,229
|
$
|
25,169
|
8.2%
|
|
$
|
118,745
|
$
|
109,472
|
8.5%
|
|
||||||||||||
Earnings per share of common stock:
|
||||||||||||||||||||||||
Basic
|
$
|
0.65
|
$
|
0.59
|
$
|
2.82
|
$
|
2.59
|
||||||||||||||||
|
||||||||||||||||||||||||
Diluted
|
$
|
0.65
|
$
|
0.59
|
$
|
2.81
|
$
|
2.59
|
||||||||||||||||
Average common shares outstanding:
|
||||||||||||||||||||||||
Basic
|
41,890
|
42,307
|
42,077
|
42,301
|
||||||||||||||||||||
|
||||||||||||||||||||||||
Diluted
|
42,173
|
42,404
|
42,258
|
42,346
|
Results by Segment
|
Three Months Ended December 31,
|
Year Ended December 31,
|
||||||||||||||||||||||
Revenue
|
2021
|
2020
|
% Change
|
2021
|
2020
|
% Change
|
||||||||||||||||||
Flavors & Extracts
|
$
|
177,448
|
$
|
189,060
|
(6.1%)
|
|
$
|
739,427
|
$
|
742,035
|
(0.4%)
|
|
||||||||||||
Color
|
137,104
|
119,813
|
14.4%
|
|
545,270
|
501,018
|
8.8%
|
|
||||||||||||||||
Asia Pacific
|
35,749
|
32,165
|
11.1%
|
135,348
|
121,227
|
11.6%
|
||||||||||||||||||
Intersegment elimination
|
(9,853
|
)
|
(6,370
|
)
|
(39,781
|
)
|
(32,279
|
)
|
||||||||||||||||
Consolidated
|
$
|
340,448
|
$
|
334,668
|
1.7%
|
$
|
1,380,264
|
$
|
1,332,001
|
3.6%
|
||||||||||||||
Operating Income
|
||||||||||||||||||||||||
Flavors & Extracts
|
$
|
21,942
|
$
|
23,507
|
(6.7%)
|
$
|
98,660
|
$
|
90,974
|
8.4%
|
||||||||||||||
Color
|
24,113
|
20,548
|
17.3%
|
103,575
|
96,034
|
7.9%
|
||||||||||||||||||
Asia Pacific
|
7,184
|
6,044
|
18.9%
|
26,330
|
22,075
|
19.3%
|
||||||||||||||||||
Corporate & Other
|
(12,819
|
)
|
(15,284
|
)
|
(58,537
|
)
|
(56,427
|
)
|
||||||||||||||||
Consolidated
|
$
|
40,420
|
$
|
34,815
|
16.1%
|
$
|
170,028
|
$
|
152,656
|
11.4%
|
Sensient Technologies Corporation
|
Page 8
|
(In thousands)
|
|
(Unaudited)
|
|
Consolidated Condensed Balance Sheets
|
December 31,
2021
|
December 31,
2020
|
||||||
Cash and cash equivalents
|
$
|
25,740
|
$
|
24,770
|
||||
Trade accounts receivable
|
261,121
|
234,132
|
||||||
Inventories
|
411,635
|
381,346
|
||||||
Prepaid expenses and other current assets
|
42,657
|
48,578
|
||||||
Assets held for sale
|
-
|
52,760
|
||||||
Total Current Assets
|
741,153
|
741,586
|
||||||
Goodwill & intangible assets (net)
|
435,009
|
434,220
|
||||||
Property, plant, and equipment (net)
|
446,478
|
445,493
|
||||||
Other assets
|
122,853
|
119,561
|
||||||
Total Assets
|
$
|
1,745,493
|
$
|
1,740,860
|
||||
Trade accounts payable
|
$
|
125,519
|
$
|
107,324
|
||||
Short-term borrowings
|
8,539
|
9,247
|
||||||
Other current liabilities
|
98,247
|
82,045
|
||||||
Liabilities held for sale
|
-
|
17,339
|
||||||
Total Current Liabilities
|
232,305
|
215,955
|
||||||
Long-term debt
|
503,006
|
518,004
|
||||||
Accrued employee and retiree benefits
|
28,579
|
28,941
|
||||||
Other liabilities
|
43,178
|
43,624
|
||||||
Shareholders’ Equity
|
938,425
|
934,336
|
||||||
Total Liabilities and Shareholders’ Equity
|
$
|
1,745,493
|
$
|
1,740,860
|
Sensient Technologies Corporation
|
Page 9
|
(In thousands, except per share amounts)
|
|
(Unaudited)
|
|
Consolidated Statements of Cash Flows
|
||||||||
Year Ended December 31,
|
||||||||
2021
|
2020
|
|||||||
Cash flows from operating activities:
|
||||||||
Net earnings
|
$
|
118,745
|
$
|
109,472
|
||||
Adjustments to arrive at net cash provided by operating activities:
|
||||||||
Depreciation and amortization
|
52,051
|
49,641
|
||||||
Share-based compensation expense
|
9,573
|
5,608
|
||||||
Net loss (gain) on assets
|
331
|
(252
|
)
|
|||||
Loss on divestitures and other charges
|
14,021
|
6,904
|
||||||
Deferred income taxes
|
(6,071
|
)
|
(8,705
|
)
|
||||
Changes in operating assets and liabilities:
|
||||||||
Trade accounts receivable
|
(34,571
|
)
|
(11,357
|
)
|
||||
Inventories
|
(36,323
|
)
|
46,828
|
|||||
Prepaid expenses and other assets
|
(6,057
|
)
|
(12,868
|
)
|
||||
Trade accounts payable and other accrued expenses
|
21,326
|
15,524
|
||||||
Accrued salaries, wages, and withholdings from employees
|
7,321
|
15,140
|
||||||
Income taxes
|
4,275
|
22
|
||||||
Other liabilities
|
597
|
2,823
|
||||||
Net cash provided by operating activities
|
145,218
|
218,780
|
||||||
Cash flows from investing activities:
|
||||||||
Acquisition of property, plant, and equipment
|
(60,788
|
)
|
(52,162
|
)
|
||||
Proceeds from sale of assets
|
216
|
1,075
|
||||||
Proceeds from divestiture of businesses
|
37,790
|
12,595
|
||||||
Acquisition of new business
|
(13,875
|
)
|
-
|
|||||
Other investing activities
|
1,097
|
5,071
|
||||||
Net cash used in investing activities
|
(35,560
|
)
|
(33,421
|
)
|
||||
Cash flows from financing activities:
|
||||||||
Proceeds from additional borrowings
|
112,194
|
36,667
|
||||||
Debt payments
|
(110,168
|
)
|
(154,348
|
)
|
||||
Purchase of treasury stock
|
(42,511
|
)
|
-
|
|||||
Dividends paid
|
(66,694
|
)
|
(66,057
|
)
|
||||
Other financing activities
|
(582
|
)
|
(415
|
)
|
||||
Net cash used in financing activities
|
(107,761
|
)
|
(184,153
|
)
|
||||
Effect of exchange rate changes on cash and cash equivalents
|
(927
|
)
|
2,411
|
|||||
Net increase in cash and cash equivalents
|
970
|
3,617
|
||||||
Cash and cash equivalents at beginning of period
|
24,770
|
21,153
|
||||||
Cash and cash equivalents at end of period
|
$
|
25,740
|
$
|
24,770
|
Supplemental Information
Year Ended December 31,
|
2021
|
2020
|
||||||
Dividends paid per share
|
$
|
1.58
|
$
|
1.56
|
Sensient Technologies Corporation
|
Page 10
|
(In thousands, except percentages and per share amounts)
|
|
(Unaudited)
|
|
Three Months Ended December 31,
|
Year Ended December 31,
|
|||||||||||||||||||||||
2021
|
2020
|
% Change
|
2021
|
2020
|
% Change
|
|||||||||||||||||||
Revenue (GAAP)
|
$
|
340,448
|
$
|
334,668
|
1.7%
|
$
|
1,380,264
|
$
|
1,332,001
|
3.6%
|
||||||||||||||
Revenue of the divested product lines
|
(663
|
)
|
(25,163
|
)
|
(30,062
|
)
|
(113,553
|
)
|
||||||||||||||||
Adjusted revenue
|
$
|
339,785
|
$
|
309,505
|
9.8%
|
$
|
1,350,202
|
$
|
1,218,448
|
10.8%
|
||||||||||||||
Operating income (GAAP)
|
$
|
40,420
|
$
|
34,815
|
16.1%
|
$
|
170,028
|
$
|
152,656
|
11.4%
|
||||||||||||||
Divestiture & other related costs – Cost of products sold
|
58
|
4
|
86
|
1,795
|
||||||||||||||||||||
Divestiture & other related costs – Selling and administrative expenses
|
579
|
1,671
|
14,052
|
10,360
|
||||||||||||||||||||
Operating loss (income) of the divested product lines
|
518
|
(3,415
|
)
|
(1,880
|
)
|
(7,580
|
)
|
|||||||||||||||||
Operational improvement plan - Cost of products sold
|
-
|
-
|
-
|
35
|
||||||||||||||||||||
Operational improvement plan - Selling and administrative
expenses (income)
|
115
|
698
|
(1,895
|
)
|
3,304
|
|||||||||||||||||||
COVID-19 employee payment - Cost of products sold
|
-
|
1,036
|
-
|
1,036
|
||||||||||||||||||||
COVID-19 employee payment - Selling and administrative expenses
|
-
|
1,986
|
-
|
1,986
|
||||||||||||||||||||
Adjusted operating income
|
$
|
41,690
|
$
|
36,795
|
13.3%
|
$
|
180,391
|
$
|
163,592
|
10.3%
|
||||||||||||||
Net earnings (GAAP)
|
$
|
27,229
|
$
|
25,169
|
8.2%
|
$
|
118,745
|
$
|
109,472
|
8.5%
|
||||||||||||||
Divestiture & other related costs, before tax
|
637
|
1,675
|
14,138
|
12,155
|
||||||||||||||||||||
Tax impact of divestiture & other related costs
|
1,809
|
(1,393
|
)
|
2,092
|
(2,605
|
)
|
||||||||||||||||||
Net loss (earnings) of the divested product lines, before tax
|
518
|
(3,415
|
)
|
(1,880
|
)
|
(7,580
|
)
|
|||||||||||||||||
Tax impact of the divested product lines
|
(130
|
)
|
790
|
460
|
1,945
|
|||||||||||||||||||
Operational improvement plan costs (income), before tax
|
115
|
698
|
(1,895
|
)
|
3,339
|
|||||||||||||||||||
Tax impact of operational improvement plan
|
427
|
(170
|
)
|
471
|
(826
|
)
|
||||||||||||||||||
COVID-19 employee payment, before tax
|
-
|
3,022
|
-
|
3,022
|
||||||||||||||||||||
Tax impact of COVID-19 employee payment
|
-
|
(675
|
)
|
-
|
(675
|
)
|
||||||||||||||||||
Adjusted net earnings
|
$
|
30,605
|
$
|
25,701
|
19.1%
|
$
|
132,131
|
$
|
118,247
|
11.7%
|
||||||||||||||
Diluted earnings per share (GAAP)
|
$
|
0.65
|
$
|
0.59
|
10.2%
|
$
|
2.81
|
$
|
2.59
|
8.5%
|
||||||||||||||
Divestiture & other related costs, net of tax
|
0.06
|
0.01
|
0.38
|
0.23
|
||||||||||||||||||||
Results of operations of the divested product lines, net of tax
|
0.01
|
(0.06
|
)
|
(0.03
|
)
|
(0.13
|
)
|
|||||||||||||||||
Operational improvement plan costs (income), net of tax
|
0.01
|
0.01
|
(0.03
|
)
|
0.06
|
|||||||||||||||||||
COVID-19 employee payment, net of tax
|
-
|
0.06
|
-
|
0.06
|
||||||||||||||||||||
Adjusted diluted earnings per share
|
$
|
0.73
|
$
|
0.61
|
19.7%
|
$
|
3.13
|
$
|
2.79
|
12.2%
|
Sensient Technologies Corporation
|
Page 11
|
(In thousands)
|
|
(Unaudited)
|
|
Results by Segment
|
Three Months Ended December 31,
|
|||||||||||||||||||||||
Adjusted
|
Adjusted
|
|||||||||||||||||||||||
Revenue
|
2021
|
Adjustments (1)
|
2021
|
2020
|
Adjustments (1)
|
2020
|
||||||||||||||||||
Flavors & Extracts
|
$
|
177,448
|
$
|
(221
|
)
|
$
|
177,227
|
$
|
189,060
|
$
|
(24,378
|
)
|
$
|
164,682
|
||||||||||
Color
|
137,104
|
(442
|
)
|
136,662
|
119,813
|
(766
|
)
|
119,047
|
||||||||||||||||
Asia Pacific
|
35,749
|
-
|
35,749
|
32,165
|
(116
|
)
|
32,049
|
|||||||||||||||||
Intersegment elimination
|
(9,853
|
)
|
-
|
(9,853
|
)
|
(6,370
|
)
|
97
|
(6,273
|
)
|
||||||||||||||
Consolidated
|
$
|
340,448
|
$
|
(663
|
)
|
$
|
339,785
|
$
|
334,668
|
$
|
(25,163
|
)
|
$
|
309,505
|
||||||||||
Operating Income
|
||||||||||||||||||||||||
Flavors & Extracts
|
$
|
21,942
|
$
|
491
|
$
|
22,433
|
$
|
23,507
|
$
|
(3,214
|
)
|
$
|
20,293
|
|||||||||||
Color
|
24,113
|
27
|
24,140
|
20,548
|
(158
|
)
|
20,390
|
|||||||||||||||||
Asia Pacific
|
7,184
|
-
|
7,184
|
6,044
|
(43
|
)
|
6,001
|
|||||||||||||||||
Corporate & Other
|
(12,819
|
)
|
752
|
(12,067
|
)
|
(15,284
|
)
|
5,395
|
(9,889
|
)
|
||||||||||||||
Consolidated
|
$
|
40,420
|
$
|
1,270
|
$
|
41,690
|
$
|
34,815
|
$
|
1,980
|
$
|
36,795
|
||||||||||||
Results by Segment
|
Year Ended December 31,
|
|||||||||||||||||||||||
Adjusted
|
Adjusted
|
|||||||||||||||||||||||
Revenue
|
2021
|
Adjustments (1)
|
2021
|
2020
|
Adjustments (1)
|
2020
|
||||||||||||||||||
Flavors & Extracts
|
$
|
739,427
|
$
|
(27,837
|
)
|
$
|
711,590
|
$
|
742,035
|
$
|
(99,543
|
)
|
$
|
642,492
|
||||||||||
Color
|
545,270
|
(2,080
|
)
|
543,190
|
501,018
|
(14,008
|
)
|
487,010
|
||||||||||||||||
Asia Pacific
|
135,348
|
(295
|
)
|
135,053
|
121,227
|
(518
|
)
|
120,709
|
||||||||||||||||
Intersegment elimination
|
(39,781
|
)
|
150
|
(39,631
|
)
|
(32,279
|
)
|
516
|
(31,763
|
)
|
||||||||||||||
Consolidated
|
$
|
1,380,264
|
$
|
(30,062
|
)
|
$
|
1,350,202
|
$
|
1,332,001
|
$
|
(113,553
|
)
|
$
|
1,218,448
|
||||||||||
Operating Income
|
||||||||||||||||||||||||
Flavors & Extracts
|
$
|
98,660
|
$
|
(2,368
|
)
|
$
|
96,292
|
$
|
90,974
|
$
|
(8,292
|
)
|
$
|
82,682
|
||||||||||
Color
|
103,575
|
575
|
104,150
|
96,034
|
871
|
96,905
|
||||||||||||||||||
Asia Pacific
|
26,330
|
(87
|
)
|
26,243
|
22,075
|
(159
|
)
|
21,916
|
||||||||||||||||
Corporate & Other
|
(58,537
|
)
|
12,243
|
(46,294
|
)
|
(56,427
|
)
|
18,516
|
(37,911
|
)
|
||||||||||||||
Consolidated
|
$
|
170,028
|
$
|
10,363
|
$
|
180,391
|
$
|
152,656
|
$
|
10,936
|
$
|
163,592
|
(1) |
For Revenue, adjustments consist of revenues of the divested product lines. For Operating Income, adjustments consist of the results of the divested product lines, divestiture & other related costs,
operational improvement plan costs and income, and the 2020 COVID-19 employee payment.
|
Sensient Technologies Corporation
|
Page 12
|
(In thousands, except percentages)
|
|
(Unaudited)
|
|
Three Months Ended December 31,
|
||||||||||||||||
Revenue
|
Total
|
Foreign Exchange Rates
|
Adjustments (2)
|
Adjusted Local Currency
|
||||||||||||
Flavors & Extracts
|
(6.1%)
|
(0.7%)
|
(13.4%)
|
8.0%
|
||||||||||||
Color
|
14.4%
|
(1.1%)
|
(0.3%)
|
15.8%
|
||||||||||||
Asia Pacific
|
11.1%
|
(3.5%)
|
(0.4%)
|
15.0%
|
||||||||||||
Total Revenue
|
1.7%
|
(1.2%)
|
(7.8%)
|
10.7%
|
||||||||||||
Operating Income
|
||||||||||||||||
Flavors & Extracts
|
(6.7%)
|
(0.7%)
|
(16.6%)
|
10.6%
|
||||||||||||
Color
|
17.3%
|
(0.8%)
|
(1.0%)
|
19.1%
|
||||||||||||
Asia Pacific
|
18.9%
|
(5.1%)
|
(0.9%)
|
24.9%
|
||||||||||||
Corporate & Other
|
(16.1%)
|
0.0%
|
(38.2%)
|
22.1%
|
||||||||||||
Total Operating Income
|
16.1%
|
(1.8%)
|
3.3%
|
14.6%
|
||||||||||||
Diluted Earnings Per Share
|
10.2%
|
(1.7%)
|
(9.4%)
|
21.3%
|
||||||||||||
Adjusted EBITDA
|
13.5%
|
|
(1.2%)
|
N/A
|
14.7%
|
|
Year Ended December 31,
|
||||||||||||||||
Revenue
|
Total
|
Foreign Exchange Rates
|
Adjustments (2)
|
Adjusted Local Currency
|
||||||||||||
Flavors & Extracts
|
(0.4%)
|
|
1.6%
|
(11.4%)
|
9.4%
|
|||||||||||
Color
|
8.8%
|
|
2.1%
|
(2.7%)
|
9.4%
|
|||||||||||
Asia Pacific
|
11.6%
|
1.7%
|
(0.2%)
|
10.1%
|
||||||||||||
Total Revenue
|
3.6%
|
1.8%
|
(7.3%)
|
9.1%
|
||||||||||||
Operating Income
|
||||||||||||||||
Flavors & Extracts
|
8.4%
|
1.2%
|
(8.0%)
|
15.2%
|
||||||||||||
Color
|
7.9%
|
2.6%
|
0.5%
|
4.8%
|
||||||||||||
Asia Pacific
|
19.3%
|
(1.8%)
|
(0.5%)
|
21.6%
|
||||||||||||
Corporate & Other
|
3.7%
|
0.0%
|
(18.4%)
|
22.1%
|
||||||||||||
Total Operating Income
|
11.4%
|
2.1%
|
1.0%
|
8.3%
|
||||||||||||
Diluted Earnings Per Share
|
8.5%
|
1.9%
|
(3.4%)
|
10.0%
|
||||||||||||
Adjusted EBITDA
|
10.6%
|
2.0%
|
|
N/A
|
8.6%
|
(2) |
For Revenue, adjustments consist of revenues of the divested product lines. For Operating Income, Diluted Earnings per Share, and Adjusted EBITDA, adjustments consist of the results of the divested product
lines, divestiture & other related costs, operational improvement plan costs and income, and the 2020 COVID-19 employee payment.
|
Three Months Ended December 31,
|
Year Ended December 31,
|
|||||||||||||||||||||||
2021
|
2020
|
% Change
|
2021
|
2020
|
% Change
|
|||||||||||||||||||
Operating income (GAAP)
|
$
|
40,420
|
$
|
34,815
|
16.1%
|
|
$
|
170,028
|
$
|
152,656
|
11.4%
|
|
||||||||||||
Depreciation and amortization
|
13,223
|
12,810
|
52,051
|
49,641
|
||||||||||||||||||||
Depreciation and amortization, divested product lines
|
-
|
(48
|
)
|
(146
|
)
|
(193
|
)
|
|||||||||||||||||
Share-based compensation expense
|
3,142
|
1,591
|
9,573
|
5,608
|
||||||||||||||||||||
Divestiture & other related costs, before tax
|
637
|
1,675
|
14,138
|
12,155
|
||||||||||||||||||||
Results of operations of the divested product lines, before tax
|
518
|
(3,415
|
)
|
(1,880
|
)
|
(7,580
|
)
|
|||||||||||||||||
Operational improvement plan costs (income), before tax
|
115
|
698
|
(1,895
|
)
|
3,339
|
|||||||||||||||||||
COVID-19 employee payment, before tax
|
-
|
3,022
|
-
|
3,022
|
||||||||||||||||||||
Adjusted EBITDA
|
$
|
58,055
|
$
|
51,148
|
13.5%
|
|
$
|
241,869
|
$
|
218,648
|
10.6%
|
|
Three Months Ended December 31,
|
Year Ended December 31,
|
|||||||||||||||||||||||
2021
|
2020
|
% Change
|
2021
|
2020
|
% Change
|
|||||||||||||||||||
Net cash provided by operating activities (GAAP)
|
$
|
29,070
|
$
|
75,853
|
(61.7
|
%)
|
$
|
145,218
|
$
|
218,780
|
(33.6
|
%)
|
||||||||||||
Capital expenditures
|
(23,180
|
)
|
(18,153
|
)
|
(60,788
|
)
|
(52,162
|
)
|
||||||||||||||||
Free Cash Flow
|
$
|
5,890
|
$
|
57,700
|
(89.8
|
%)
|
$
|
84,430
|
$
|
166,618
|
(49.3
|
%)
|