Net cash used in financing activities was $24.8 million in 2017 compared with $4.1 million in 2016. Financing activities in 2017 included a $69.5 million increase in net short-term borrowings under OTP’s credit agreement, of which $33.0 million was used to redeem OTP’s 5.95% Senior Unsecured Series A Notes which matured on August 20, 2017. The additional short-term borrowings were used to fund a portion of OTP’s 2017 capital expenditures. Operating cash flows from our Manufacturing and Plastic’s segments were used to repay an additional $15.2 million in long-term debt related to those operations. Financing activities in 2017 also included $2.4 million from an increase in checks written in excess of cash and $4.3 million in net proceeds from the issuance of common stock under our automatic dividend reinvestment and share purchase plan, partially offset by $1.8 million in stock repurchases related to tax withholding requirements for stock incentive awards. See note 5 to the consolidated financial statements for further information on stock issuances and retirements in 2017. We paid common stock dividends of $50.6 million in 2017 compared with $48.2 million in 2016.
“It could be economy driven,” Evans said. “We made some route changes. We put some more buses out in the middle of the day where people need them. Some of the trips are attributed to later service, but not in high numbers. “
To date, there have been zero incidents or injuries on the road’s over-water sections, according to Junbo and China State’s Haiqing.
The course covers the basics of setting up a company, creating customers, receiving payments and making deposits into bank accounts. Students will work with and create vendors and paying bills as well as create and edit a chart of accounts for their companies, run reports and reconcile bank accounts.
That’s because McCoy, 31, still is a player teams have to account for. While his sack numbers have plateaued with a total of 12 over the past two seasons, he led the Bucs with 21 quarterback hits in 2018. That’s one more than Jason Pierre-Paul, who led the team with 12.5 sacks.
How can I say that with such confidence? Because I’ve been studying defenses, particularly ours and Grantham’s. I’ve watched film to pick out formations, personnel, philosophy. I’ve looked at stats. Allow me to share with you my theory on why Georgia’s current iteration of the 3-4 defense will always be superior to Todd Grantham’s.
On October 29, 2012 OTP entered into a Second Amended and Restated Credit Agreement (the OTP Credit Agreement), providing for an unsecured $170 million revolving credit facility that may be increased to $250 million on the terms and subject to the conditions described in the OTP Credit Agreement. On October 31, 2018 the OTP Credit Agreement was amended to extend its expiration date by one year from October 31, 2022 to October 31, 2023. OTP can draw on this credit facility to support the working capital needs and other capital requirements of its operations, including letters of credit in an aggregate amount not to exceed $50 million outstanding at any time. Borrowings under this line of credit bear interest at LIBOR plus 1.25%, subject to adjustment based on the ratings of OTP’s senior unsecured debt or the issuer rating if a rating is not provided for the senior unsecured debt. OTP is required to pay commitment fees based on the average daily unused amount available to be drawn under the revolving credit facility. The OTP Credit Agreement contains a number of restrictions on the business of OTP, including restrictions on its ability to merge, sell assets, make investments, create or incur liens on assets, guarantee the obligations of any other party, and engage in transactions with related parties. The OTP Credit Agreement also contains affirmative covenants and events of default, and financial covenants as described below under the heading ‘Financial Covenants.’ The OTP Credit Agreement does not include provisions for the termination of the agreement or the acceleration of repayment of amounts outstanding due to changes in OTP’s credit ratings. OTP’s obligations under the OTP Credit Agreement are not guaranteed by any other party.
* Sessions/Themes: Splash into Summer, May 28-May 31; Ooey and Gooey Science, June 3-7; Wacky Sports, June 10-14; Spirit Week, June 17-21; Party Across the USA, June 24-28, Junior Engineers, July 8-12; Creative Minds, July 15-19; Space and Weather, July 22-26; Community Helpers, July 29-Aug. 2; Epic Adventure, Aug. 5-9.
YMCA Sports Camps. Tuition: $50-$100. Info: 402-434-9217 or ymcalincoln.org after March 1. Dates and sites tentative.
Looking ahead, the Group is also well positioned to capture volumes in the offshore Brazilian market, where we hold strong positions thanks to both our renewed long term agreement with Petrobras and our comprehensive offer, which will also support international oil companies launching E&P projects in this country.
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If you are interested in attending the Denver workshop: Send an email to Zach Bodhane (zbodhane@westgov.org) for additional information.
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