DOUGLAS DYNAMICS, INC (PLOW) [Rocket]

In millions, except per share items	Jun-30-22	Mar-31-22	Dec-31-21	Sep-30-21	Jun-30-21	Mar-31-21	Dec-31-20	Sep-30-20
	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q
Net income	17.7	-3.9	8.8	7.0	14.1	0.7	18.2	9.2
Depreciation and amortization [+]	5.2	5.2	5.1	5.0	5.2	5.0	5.0	4.9
Depreciation	2.6	2.6	2.5	2.4	2.5	2.3	2.3	2.2
Amortization	2.6	2.6	2.6	2.6	2.7	2.7	2.7	2.7
Stock-based compensation	3.2	1.9	-0.2	0.0	4.1	2.0	0.1	0.2
Deferred taxes	0.1	1.0	0.7	0.4	0.2	0.3	-1.0	1.2
Change in working capital [+]	-59.6	-31.3	75.3	-45.8	-41.1	16.0	61.0	-38.3
Accounts receivable	-84.8	27.9	53.6	-32.2	-47.1	37.9	39.7	-46.7
Inventories	12.3	-39.8	-3.9	-6.2	6.1	-20.2	14.3	5.8
Other current assets	3.7	-1.1	1.8	-3.1	-0.2	-0.3	-0.2	-1.8
Accounts payable	1.0	-9.3	9.9	-2.4	-0.4	3.3	-3.2	0.5
Accrued expenses	8.7	-8.9	3.5	-0.6	1.2	-4.1	7.5	2.8
Other	-0.5	-0.1	10.5	-1.3	-0.6	-0.7	2.9	1.0
Other operating activities	1.2	1.2	-9.7	0.7	6.6	0.2	-2.7	1.7
Cash from operations	-32.2	-26.0	80.0	-32.6	-11.0	24.1	80.4	-21.1

Capital expenditures	1.3	-2.2	-3.9	-2.7	2.3	-2.2	-5.0	-4.4
Purchases of property and equipment	1.3	-2.2	-3.9	-2.7	2.3	-2.2	-5.0	-4.4
Other cash from investing	-4.6				-4.8
Cash from investing	-3.4	-2.2	-3.9	-2.7	-2.4	-2.2	-5.0	-4.4

Cash dividends paid	-6.8	-6.7	-6.6	-6.6	-6.5	-6.8	-6.5	-6.5
Repurchase of common stock, net	-3.0	-3.0
Option exercises					-0.3
Financing costs				-0.1	-1.3		-0.1
Other cash from financing	43.2	9.2	-39.8	34.0	-2.0	-20.7	-42.3	11.3
Cash from financing	33.4	-0.6	-46.5	27.5	-6.9	-27.5	-48.7	4.8

Free cash flow	-30.9	-28.2	76.1	-35.3	-8.7	22.0	75.4	-25.5
Per share (diluted)	($1.35)	($1.23)	$3.31	($1.54)	($0.38)	$0.96	$3.30	($1.11)