EEI 2017 Form 10-K

Table of Contents Ecology and Environment, Inc. Consolidated Statements of Cash Flows (amounts in thousands) Fiscal Year Ended July 31, 2017 2016 2015 Cash flows from operating activities: Net income $ 2,953 $ 608 $ 4,200 Adjustments to reconcile net income to net cash provided by operating activities: Impairment of long-lived assets - 375 - Impairment of goodwill - - 104 Impairment of Investment in ECSI - - 355 Depreciation and amortization 1,040 1,143 1,467 Provision for deferred income taxes 1,924 1,697 1,154 Share based compensation expense 69 37 59 Tax impact of share-based compensation (6) - (92) (Gain) loss on sale of assets and investment securities (81) 135 (186) Net recovery of contract adjustments and project disallowance reserves (1,178) (910) (413) Net bad debt expense (recovery) 244 453 (326) Changes in: - contract receivables (686) 7,394 (934) - other current assets (39) (400) (440) - income tax receivable (376) (329) 270 - other non-current assets (14) 42 48 - accounts payable 1,160 (3,157) 1,052 - accrued payroll costs (295) (1,909) 1,805 - income taxes payable (89) 40 132 - billings in excess of revenue (498) 607 (1,909) - other accrued liabilities 269 (29) 202 Net cash provided by operating activities 4,397 5,797 6,548 Cash flows from investing activities: Acquisition of noncontrolling interest of subsidiaries - - (50) Proceeds from sale of subsidiaries 75 150 - Purchase of property, building and equipment (721) (722) (735) Proceeds from sale of building and equipment 1,495 5 255 Proceeds from maturity of investments - 26 - Purchase of investment securities (29) (55) (33) Net cash provided by (used in) investing activities 820 (596) (563) Cash flows from financing activities: Dividends paid (1,720) (2,066) (2,066) Proceeds from debt 200 6 384 Repayment of debt (241) (547) (753) Net borrowings (repayment) of lines of credit 246 (380) (870) Distributions to noncontrolling interests (680) (530) (537) Net cash used in financing activities (2,195) (3,517) (3,842) Effect of exchange rate changes on cash and cash equivalents 160 (226) (329) Net increase in cash, cash equivalents and restricted cash 3,182 1,458 1,814 Cash, cash equivalents and restricted cash at beginning of period 10,161 8,703 6,889 Cash, cash equivalents and restricted cash at end of period $ 13,343 $ 10,161 $ 8,703 Supplemental disclosure of cash flow information: Cash paid during the period for: Interest $ 151 $ 151 $ 110 Income taxes 792 2,742 1,542 Supplemental disclosure of non-cash items: Dividends declared and not paid 860 861 1,033 Proceeds from capital lease obligations 29 69 322 Sale of subsidiary (loans receivable) - 75 - Acquistion of noncontrolling interest of subsidiaries (loans receivable and stock) - - 233 The accompanying notes are an integral part of these consolidated financial statements. 35