Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

v3.5.0.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
OPERATING ACTIVITIES    
Net Income $ 19,308 $ 12,158
Adjustments to Reconcile Net Income of Trecora Resources To Net Cash Provided by Operating Activities:    
Depreciation 3,667 3,409
Amortization of Intangible Assets 944 942
Unrealized Gain on Derivative Instruments (55) (289)
Share-based Compensation 1,274 1,289
Deferred Income Taxes 7,462 (69)
Postretirement Obligation 94 4
Bargain purchase gain (11,549) 0
Equity in (earnings) losses of AMAK (7,168) 310
Changes in Operating Assets and Liabilities:    
Decrease in Trade Receivables 1,893 6,149
Decrease in Taxes Receivable 2,751 434
Increase in Inventories (4,260) (2,243)
Increase in Prepaid Expenses and Other Assets 371 404
Decrease in Accounts Payable and Accrued Liabilities (1,112) (2,968)
Increase (Decrease) in Other Liabilities (347) 969
Net Cash Provided by Operating Activities 13,273 20,499
INVESTING ACTIVITIES    
Additions to Plant, Pipeline and Equipment (16,383) (16,850)
Cash paid for acquisition of BASF facility (2,011) 0
Acquisition Goodwill Adjustment 0 (47)
Cash Used in Investing Activities (18,394) (16,897)
FINANCING ACTIVITIES    
Issuance of Common Stock 11 46
Repayment of Long-Term Debt (4,167) (3,500)
Net Cash Used in Financing Activities (4,156) (3,454)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (9,277) 148
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 18,623 8,506
CASH AND CASH EQUIVALENTS AT END OF PERIOD 9,346 8,654
Supplemental disclosure of cash flow information:    
Cash payments for interest 1,186 1,147
Cash payments for taxes, net of refunds 277 6,902
Supplemental disclosure of non-cash items:    
Capital expansion amortized to depreciation expense 637 599
Estimated Earnout Liability (Note 6) $ 733 $ 0