# VSE CORPORATION (VSEC) FY2026 YTD Q2 Statement of Cash Flows

- Company: VSE CORPORATION (VSEC)
- Period: 2026-01-01 to 2026-06-30
- Filing: Q2 FY2026 10-Q, filed 2026-08-06, accession number 0000102752-26-000064
- Page: https://plicit.ai/financials/vsec/fy2026-ytd-q2-cash-flow
- Chart image: https://plicit.ai/charts/vsec-fy2026-ytd-q2-cash-flow-sankey.png

## Chart details

Cash flows for Jan 1, 2026 through Jun 30, 2026. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Dec 31, 2025. Ending cash: Jun 30, 2026. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

- **Beginning cash on Dec 31, 2025**: 69,358,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
- **Operating activities**: negative 34,707,000 US dollars. Net cash used.
- **Net income (loss)**: 57,578,000 US dollars
- **Depreciation and amortization**: 36,721,000 US dollars
- **Amortization of debt issuance cost**: 1,270,000 US dollars
- **Deferred taxes**: 9,447,000 US dollars
- **Stock-based compensation**: 8,664,000 US dollars
- **Impairment and loss on sale of business segments**: 0 US dollars
- **Loss on sale of property and equipment**: 223,000 US dollars
- **Gain on settlement of corporate-owned life insurance**: negative 357,000 US dollars
- **Interest income on note receivable**: negative 1,382,000 US dollars
- **Earn-out receivable fair value adjustment**: 0 US dollars
- **Receivables**: negative 9,532,000 US dollars
- **Contract assets**: negative 3,831,000 US dollars
- **Inventories**: negative 115,617,000 US dollars
- **Prepaid expenses and other current assets and other assets**: negative 5,410,000 US dollars
- **Operating lease assets and liabilities, net**: 1,889,000 US dollars
- **Accounts payable and deferred compensation**: negative 21,804,000 US dollars
- **Accrued expenses and other liabilities**: 2,961,000 US dollars
- **Loss on debt extinguishment**: 4,473,000 US dollars
- **Investing activities**: negative 1,796,118,000 US dollars. Net cash used.
- **Purchases of property and equipment**: negative 15,327,000 US dollars
- **Proceeds from the sale of business segments, net of cash divested**: 0 US dollars
- **Cash paid for acquisitions, net of cash acquired**: negative 1,766,844,000 US dollars
- **Purchases of intangible assets**: negative 14,707,000 US dollars
- **Proceeds from corporate-owned life insurance settlements**: 760,000 US dollars
- **Financing activities**: 1,836,961,000 US dollars. Net cash provided.
- **Borrowings on bank credit facilities, net of creditor fees**: 934,357,000 US dollars
- **Repayments on bank credit facilities**: negative 343,523,000 US dollars
- **Proceeds from issuance of common stock, net**: 829,676,000 US dollars
- **Proceeds from issuance of tangible equity units, net**: 444,908,000 US dollars
- **Payment of debt financing costs**: negative 7,909,000 US dollars
- **Payment of taxes for equity transactions**: negative 9,119,000 US dollars
- **Dividends paid**: negative 5,146,000 US dollars
- **Other**: negative 984,000 US dollars
- **Repayments on amortizing notes**: negative 5,299,000 US dollars
- **Operating adjustment reconciliation**: 157,933,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
- **financing gross reconciliation**: 2,208,941,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
- **investing gross reconciliation**: 1,796,878,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
- **Exchange-rate effect**: negative 134,000 US dollars
- **Ending cash on Jun 30, 2026**: 75,360,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
- **Cash sources and uses**: 1,906,319,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
- **Net cash change**: 6,002,000 US dollars. Ending cash minus beginning cash.
- **Cash flow / Net income**: −0.60×. Operating cash flow divided by reconciliation net income for the same period. Black from 0.90× through 1.10×; green above 1.10×; red below 0.90×. Color uses the unrounded ratio.
- **Operating cash flow**: negative 34,707,000 US dollars. Operating cash flow used in the free cash flow calculation.
- **Cash purchases of property, plant and equipment**: 15,327,000 US dollars. These cash purchases are already included in investing activities above.
- **Free cash flow**: negative 50,034,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.

### Chart connections

- Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
- Financing contributions meet at a reconciliation junction before connecting to the net cash total.
- Investing contributions meet at a reconciliation junction before connecting to the net cash total.
- Operating reconciliation adjustments are not all independent cash receipts.
- Net income or operating cash is negative. The full signed reconciliation is retained: losses remain deductions, and any negative operating-cash total enters the junction from the cash pool. No positive direct-income connection is implied.
- Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
- The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
- Operating cash flow minus cash purchases of property, plant and equipment equals free cash flow: negative 34,707,000 US dollars minus 15,327,000 US dollars equals negative 50,034,000 US dollars.