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	29.7	26.0	30.7	40.0	42.2	-75.7	-86.6	-93.2
Depreciation and amortization [+]	20.5	20.5	20.3	20.3	20.2	19.9	19.7	19.6
Depreciation	10.0	9.9	9.6	9.5	9.3	9.0	8.8	8.6
Amortization	10.5	10.6	10.7	10.8	10.9	10.9	10.9	11.0
Stock-based compensation	4.8	5.7	5.8	6.1	6.3	3.4	2.8	2.9
Deferred taxes	2.2	2.3	1.6	-0.2	0.6	-18.0	-19.6	-21.1
Change in working capital [+]	-61.4	-42.9	4.4	-9.9	-2.4	28.5	5.6	38.2
Accounts receivable	-35.5	2.1	12.1	-1.8	-16.2	1.9	3.0	28.3
Inventories	-37.6	-43.9	-24.3	-6.1	5.9	12.4	-1.8	-3.6
Other current assets	1.4	-2.5	-1.7	-3.7	-2.4	-1.9	-3.7	-3.2
Accounts payable	-0.9	-2.2	10.4	-2.7	0.2	2.2	0.0	2.2
Accrued expenses	2.8	-4.7	0.0	4.1	7.5	9.8	6.6	1.1
Other	8.5	8.4	7.9	0.3	2.6	4.1	1.5	13.4
Other operating activities	-6.6	-1.3	-2.3	4.7	5.7	0.7	3.5	-3.0
Cash from operations	-10.8	10.4	60.5	61.0	72.5	86.6	53.4	71.4

Capital expenditures	-7.6	-6.5	-6.5	-7.5	-9.3	-14.4	-14.5	-13.2
Purchases of property and equipment	-7.6	-6.5	-6.5	-7.5	-9.3	-14.4	-14.5	-13.2
Other cash from investing	-4.6				-4.8
Cash from investing	-12.2	-11.2	-11.2	-12.3	-14.0	-14.4	-14.5	-13.2

Cash dividends paid	-26.8	-26.5	-26.5	-26.4	-26.3	-26.2	-25.9	-25.7
Repurchase of common stock, net	-6.0	-3.0
Option exercises					-0.3
Financing costs				-1.5	-1.4		-1.1
Other cash from financing	46.6	1.4	-28.5	-31.0	-53.7	-38.8	-8.7	-24.0
Cash from financing	13.9	-26.5	-53.4	-55.6	-78.3	-63.8	-33.5	-48.8

Free cash flow	-18.4	3.9	54.1	53.4	63.3	72.2	38.9	58.2
Per share (diluted)	($0.80)	$0.17	$2.36	$2.33	$2.76	$3.16	$1.70	$2.55