BRISTOL BAY NATIVE CORPORATION
AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS (CONTINUED)
Years ended March 31, 2019, 2018 and 2017 (In thousands)
2019 2018 2017
(11,707) (4,256) (23,087)
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of businesses, net of cash acquired
Proceeds from sale of controlling interest in subsidiary 2,746 — —
(Issuance of) collection on notes receivable 3,500 4,005 (7,505)
10,237 3,679 1,752
Investment in unconsolidated affiliates (9,259) (15,220) —
Purchase of other investments (5,984) (5,463) (18,695)
Return of capital from unconsolidated affiliates
Return of capital from other investments
Additions to property, plant, and equipment
Net cash used in investing activities
5,042 2,281 7,581
(24,517) (15,106) (13,772)
(29,942) (30,080) (53,726)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from long-term debt
Repayment of long-term debt
Proceeds of notes payable
Repayment of notes payable
Payment of contingent consideration
Contributions from (distributions to) noncontrolling interests
29,341 29,000 54,832
(56,256) (86,906) (64,766)
104,245 26,990 —
(103,612) (24,816) —
(367) — —
(137) (308) 303
Dividends paid (10,957) (20,111) (18,796)
Contributions to settlement trusts (12,847) — —
Net cash used in financing activities (50,590) (76,151) (28,427)
Increase (decrease) in cash and cash equivalents (11,435) (60,544) 12,832
24,615 85,159 72,327
$ 13,180 24,615 85,159
$
CASH AND CASH EQUIVALENTS:
Beginning of year
End of year
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
CASH PAID DURING THE YEAR FOR:
Interest
1,728 2,435 1,769
Income taxes paid 798 9,549 7,639
Income taxes refunded 227 3,234 —
4,720 1,100 —
820 — 2,855
2,691 — —
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES:
Future payments based upon earnings in connection with acquisition
Holdback payments in connection with acquisitions
Earnout receivable from sale of controlling interest in subsidiary
See accompanying notes to consolidated financial statements.
46
BBNC FY2019 ANNUAL REPORT