STANDARD DIVERSIFIED INC. Cashflow Statement

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Financial Statements

Income Statement Balance Sheet Cashflow Statement

Consolidated Statements of Cash Flows

In millions of USD, except per-share amounts

	FY2019 12 months to Dec 31, 2019	FY2018 12 months to Dec 31, 2018	FY2017 12 months to Dec 31, 2017	FY2016 12 months to Dec 31, 2016	FY2015 12 months to Dec 31, 2015
Cash flows from operating activities:
Net loss
Loss from continuing operations
Net (loss) income
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Loss on extinguishment of debt
Crystal Term Loan
Total loss on extinguishment of debt
Loss on disposal of property, plant and equipment
Depreciation expense
Amortization of deferred financing costs
Amortization of original issue discount
Amortization of deferred financing costs and debt discount
Amortization of other intangible assets
Interest incurred but not paid on notes
PIK Toggle Notes
7% Senior Notes
Interest paid on notes
Reserve of note receivable
Deferred income taxes
Stock-based compensation expense
Amortization of bond discount/premium
Impairment loss on goodwill and other intangible assets
Turning Point impairment loss
Turning Point non-cash lease expense
Turning Point gain on postretirement plan termination
Turning Point gain on CASH investment
Changes in operating assets and liabilities:
Accounts receivable
Inventories
Other current assets
Pension asset
Other assets
Accounts payable
Accrued expenses
Accrued pension liabilities
Accrued postretirement liabilities
Accrued liabilities and other
Premiums receivable
Deferred policy acquisition costs
Reserves for losses and loss adjustment expenses
Unearned and advance premiums

Net cash provided by operating activities

Cash flows from investing activities:
Purchase of marketable securities
Proceeds from maturities of marketable securities
Cash and cash equivalents acquired in reverse acquisition
Acquisitions, net of cash acquired
Capital expenditures
Proceeds from sale and maturity of fixed maturity securities, available-for-sale
Payments for purchases of fixed maturity securities, available-for-sale
Proceeds from sale of property, plant and equipment
Payments for investments
Payments for purchases of equity securities
Restricted cash, MSA escrow deposits
Proceeds from sale of property, plant, and equipment
Issuance of notes receivable
Repayment of note receivable
Net cash provided by (used in) investing activities

Cash flows from financing activities:
Proceeds from disgorgement of profit realized by an insider on short-swing transaction
Payment of term loan
2017 First Lien Term Loans
First Lien Term Loans
2018 First Lien Term Loan
2018 First Lien Term Loan
Second Lien Term Loan
Proceeds from revolving credit facility
2018 Revolving Credit Facility
Total proceeds from revolving credit facility
(Payments of) proceeds from term loans, net
2018 Second Lien Term Loan
Crystal Term Loan
2017 Second Lien Term Loan
2017 First Lien Term Loans
(Payments of) proceeds from revolving credit facility
2018 Revolving Credit Facility
2017 Revolving Credit Facility
Total (Payments of) proceeds from revolving credit facility
Payments of Standard Outdoor promissory note
Prepaid Turning Point Brands equity issuance costs
Payment of PIK toggle notes
Proceeds from term loans
2017 First Lien Term Loans
2017 Second Lien Term Loan
2018 First Lien Term Loan
2018 Second Lien Term Loan
Crystal Term Loan
GACP Term Loan
Proceeds from Convertible Senior Notes
Payment to terminate acquired capital lease
Redemption of subsidiary options by Turning Point Brands
Redemption of subsidiary warrants by Turning Point Brands
Turning Point exercise of stock options
Turning Point Brands exercise of warrants
Turning Point Brands surrender of options
Turning Point payments for call options
Turning Point redemption of stock options
Turning Point surrender of stock options
Turning Point dividend to noncontrolling interests
Proceeds from issuance of SDI stock
Turning Point
Total proceeds from issuance of SDI stock
Payments of VaporBeast Note Payable
Repurchase of SDI common shares
Payments of Vapor Beast Note Payable and Vapor Shark loans
Proceeds from release of restricted funds
Distribution to noncontrolling interest of Turning Point Brands
Share repurchase for tax withholdings on vesting of restricted stock
Net cash provided by financing activities

Net increase (decrease) in cash
Net increase in cash
Cash, beginning of period:
Unrestricted
Restricted
Total cash at beginning of period
Cash, end of period
Unrestricted
GACP Term Loan
Total unrestricted
Restricted
Total cash at end of period
Supplemental schedule of cash flow information:
Cash paid during the period for interest
Cash paid during the period for income taxes, net
Issuance of SDOI shares in business combination
Supplemental schedule of noncash investing activities:
Conversion of Notes to equity
Conversion of PIK Toggle Notes to Equity
7% Senior Notes
Accrued expenses incurred for prepaid equity issuance costs
Common stock issued in connection with reverse acquisition
Issuance of Turning Point Brands restricted stock
Turning Point investment in General Wireless
Supplemental schedule of noncash financing activities:
Common stock issued in connection with reverse acquisition
SDI shares withheld on restricted stock vesting to cover income taxes
Unsettled SDI share repurchases included in accounts payable
Turning Point dividend to noncontrolling interests declared not paid
Issuance of SDI and Turning Point shares in acquisition
Issuance of promissory notes in asset purchases

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