2019 BBNC Annual Report - Page 48

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