Enter the numbers above into this spreadsheet below:
Hydrogenics Corporation This case is a continuation of Cases 2.4 and 3.4. (a) Open the financial statement analysis template that you saved from the Chapter 3 H ydrogenics Case. Click on the "Cover" tab at the bottom of the screen. Input the check figures for the Cash Flow section of this page. Click on the "Cash Flow" tab and input the data from the cash flow statement included for Hydrogenics in this case. Note 25 includes additional input needed for the operating activities area of the cash flow statement. Be sure to input the amount for interest paid at the bottom of the page (no amount is needed for income taxes paid). When you have finished inputting the data, review the cash flow statement to make sure there are no red blocks indicating that your numbers do not match the cover sheet information check figures Make any necessary corrections before printing out your input and the summary analysis page that the template automatically creates for you. Save the template on your computer or a disk in order to use it with subsequent problems in later chapters. (b) Analyze the statement of cash flows for Hydrogenics. Be sure to analyze the cash flows from operating activities, as well as the overall cash inflows and cash outflows for the firm. Hydrogenics Corporation Consolidated Statements of Cash Flows Years ended December 31, (in thousands of US dollars) 2013 2012 Cash and cash equivalents provided by (used in): Operating activities Net loss for the year S (8,908) $ (12,797) (Increase) decrease in restricted cash 1,758 (1,607) Items not affecting cash: Loss on disposal of assets Amortization and depreciation 712 870 Other finance losses, net (note 17) 2,065 438 Unrealized foreign exchange (gains) losses (120) (257) Stock-based compensation (note 13) 631 577 Portion of borrowings recorded as a reduction from research and product development expenses or fixed assets (note 11) (934) (981) Accreted non-cash interest (note 11) 349 288 Payment of post-retirement benefit liability (note 11) (97) (100) Liabilities for compensation indexed to share price 4,223 768 Net change in non-cash working capital (note 25) (8,879) 11,631 Cash used in operating activities (9,197) (1,163) Investing activities Proceeds from disposal of property, plant and equipment Purchase of property, plant and equipment (424) Purchase of intangible assets Cash used in investing activities (971) (400) Financing activities Payment of repayable government contributions (note 11) (393) (308) Proceeds of borrowings, net of transaction costs (note 11) 1,782 1,621 Proceeds of operating borrowings 1,412 1,182 Repayment of operating borrowings (1,412) (1,182) Common shares issued and warrants exercised, net of issuance costs (note 12) 7,280 5,178 Cash provided by financing activities 8,669 6,491 Effect of exchange rate fluctuations on cash and cash equivalents held 302 307 Increase (decrease) in cash and cash equivalents during the year (1,197) 5,235 Cash and cash equivalents - Beginning of year 13,020 7,785 Cash and cash equivalents - End of year S 11,823 $ 13,020 Supplemental disclosure Income taxes paid Interest paid Note 25. Consolidated Statements of Cash Flows Components of the net change in non-cash working capital are as follows: 2013 2012 (Increase) decrease in current assets Trade and other receivables $384 $ (1,632) Grants receivable 108 Inventories (973) (2,678) Prepaid expenses and other current assets (64) (289) Increase (decrease) in current liabilities Trade, other payables and provisions (1,614) 984 Deferred revenue (6,629) 15,138 Subtotal $ (8,879) $ 11,631 Liabilities for compensation indexed to share price 4,223 $ (4,656) 768 $ 12,399 Dec 31, 2012 (12,797) Dec 31, 2013 Income (oss) from continuing operations (8,908) $ Depreciation and amortization Stock-based compensation Restructuring and impairment charges Increase (decrease) in provision for deferred income taxes (Gain) loss on sales of investments, acquisitions, and securities (Gain) loss on sales of property, plant, and equipment Other non-cash items, net (Increase) decrease in receivables (Increase) decrease in inventories (Increase) decrease in other current assets Increase (decrease) in accounts payable, accrued liabilities, and income taxes Davable Increase (decrease) in deferred liabilities Other assets and liabilities, net Purchases of property, plant, and equipment Sales of property, plant, and equipment Purchases of marketable securities and short-term investments investments Acquisitions, net of cash acquired Other investing activities, net Short-term borrowings, net Proceeds from long-term borrovings Payment of long-term borrowings Proceeds from sales of common stock Dec 31, 2013 Dec 31, 2012 Repurchase of common stock/treasury stock Dividends to shareholders Other financing activities, net Net cash provided by (used for) discontinued operations Effect of exchange rate changes on cash, net Cash and equivalents, beginning of period Cash paid during the year for: Interest Income taxes (refunded) 13,020 Hydrogenics Corporation This case is a continuation of Cases 2.4 and 3.4. (a) Open the financial statement analysis template that you saved from the Chapter 3 H ydrogenics Case. Click on the "Cover" tab at the bottom of the screen. Input the check figures for the Cash Flow section of this page. Click on the "Cash Flow" tab and input the data from the cash flow statement included for Hydrogenics in this case. Note 25 includes additional input needed for the operating activities area of the cash flow statement. Be sure to input the amount for interest paid at the bottom of the page (no amount is needed for income taxes paid). When you have finished inputting the data, review the cash flow statement to make sure there are no red blocks indicating that your numbers do not match the cover sheet information check figures Make any necessary corrections before printing out your input and the summary analysis page that the template automatically creates for you. Save the template on your computer or a disk in order to use it with subsequent problems in later chapters. (b) Analyze the statement of cash flows for Hydrogenics. Be sure to analyze the cash flows from operating activities, as well as the overall cash inflows and cash outflows for the firm. Hydrogenics Corporation Consolidated Statements of Cash Flows Years ended December 31, (in thousands of US dollars) 2013 2012 Cash and cash equivalents provided by (used in): Operating activities Net loss for the year S (8,908) $ (12,797) (Increase) decrease in restricted cash 1,758 (1,607) Items not affecting cash: Loss on disposal of assets Amortization and depreciation 712 870 Other finance losses, net (note 17) 2,065 438 Unrealized foreign exchange (gains) losses (120) (257) Stock-based compensation (note 13) 631 577 Portion of borrowings recorded as a reduction from research and product development expenses or fixed assets (note 11) (934) (981) Accreted non-cash interest (note 11) 349 288 Payment of post-retirement benefit liability (note 11) (97) (100) Liabilities for compensation indexed to share price 4,223 768 Net change in non-cash working capital (note 25) (8,879) 11,631 Cash used in operating activities (9,197) (1,163) Investing activities Proceeds from disposal of property, plant and equipment Purchase of property, plant and equipment (424) Purchase of intangible assets Cash used in investing activities (971) (400) Financing activities Payment of repayable government contributions (note 11) (393) (308) Proceeds of borrowings, net of transaction costs (note 11) 1,782 1,621 Proceeds of operating borrowings 1,412 1,182 Repayment of operating borrowings (1,412) (1,182) Common shares issued and warrants exercised, net of issuance costs (note 12) 7,280 5,178 Cash provided by financing activities 8,669 6,491 Effect of exchange rate fluctuations on cash and cash equivalents held 302 307 Increase (decrease) in cash and cash equivalents during the year (1,197) 5,235 Cash and cash equivalents - Beginning of year 13,020 7,785 Cash and cash equivalents - End of year S 11,823 $ 13,020 Supplemental disclosure Income taxes paid Interest paid Note 25. Consolidated Statements of Cash Flows Components of the net change in non-cash working capital are as follows: 2013 2012 (Increase) decrease in current assets Trade and other receivables $384 $ (1,632) Grants receivable 108 Inventories (973) (2,678) Prepaid expenses and other current assets (64) (289) Increase (decrease) in current liabilities Trade, other payables and provisions (1,614) 984 Deferred revenue (6,629) 15,138 Subtotal $ (8,879) $ 11,631 Liabilities for compensation indexed to share price 4,223 $ (4,656) 768 $ 12,399 Dec 31, 2012 (12,797) Dec 31, 2013 Income (oss) from continuing operations (8,908) $ Depreciation and amortization Stock-based compensation Restructuring and impairment charges Increase (decrease) in provision for deferred income taxes (Gain) loss on sales of investments, acquisitions, and securities (Gain) loss on sales of property, plant, and equipment Other non-cash items, net (Increase) decrease in receivables (Increase) decrease in inventories (Increase) decrease in other current assets Increase (decrease) in accounts payable, accrued liabilities, and income taxes Davable Increase (decrease) in deferred liabilities Other assets and liabilities, net Purchases of property, plant, and equipment Sales of property, plant, and equipment Purchases of marketable securities and short-term investments investments Acquisitions, net of cash acquired Other investing activities, net Short-term borrowings, net Proceeds from long-term borrovings Payment of long-term borrowings Proceeds from sales of common stock Dec 31, 2013 Dec 31, 2012 Repurchase of common stock/treasury stock Dividends to shareholders Other financing activities, net Net cash provided by (used for) discontinued operations Effect of exchange rate changes on cash, net Cash and equivalents, beginning of period Cash paid during the year for: Interest Income taxes (refunded) 13,020
