Asbury automotive group, inc. (ABG)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11
CASH FLOW FROM OPERATING ACTIVITIES:
Net income

19,500

43,600

45,000

54,900

40,900

40,400

44,300

43,200

40,100

42,500

30,700

31,900

34,000

67,100

32,400

36,700

31,000

41,100

51,100

41,100

35,900

11,800

32,500

35,900

31,400

26,900

22,700

27,000

32,500

22,800

20,700

21,100

17,600

21,500

12,300

14,200

19,900

Adjustments to reconcile net income to net cash provided by operating activities—
Depreciation and amortization

9,500

9,500

9,100

9,000

8,600

8,500

8,500

8,500

8,200

8,100

8,100

8,000

7,900

7,700

7,800

7,700

7,500

7,500

7,500

7,200

7,300

7,000

6,700

6,400

6,300

6,300

6,200

5,900

5,900

5,700

5,500

5,700

5,700

5,700

5,800

5,700

5,300

Share-based compensation

3,500

2,100

3,600

2,900

3,900

2,300

2,500

2,500

3,200

3,600

3,600

3,300

3,100

2,900

3,000

2,500

3,600

2,300

2,400

2,000

3,300

1,900

2,400

1,800

2,500

2,100

2,500

1,900

2,500

1,500

1,800

1,400

2,400

1,100

2,500

2,600

2,600

Deferred income taxes

100

-

-

-

0

-

-

-

-

-

-

-

-

-300

4,000

1,000

1,400

8,500

900

1,900

-1,800

14,200

1,200

1,800

100

8,400

3,100

2,800

1,200

3,300

2,800

4,900

1,600

7,100

3,200

5,900

1,000

Franchise rights impairment

23,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefit on share-based arrangements

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

1,400

3,100

100

100

900

2,400

0

100

200

2,000

0

3,300

400

1,700

2,400

700

100

600

Loss on disposal of fixed assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-300

-700

0

-

-

-

-

-

-

-

-

-

-

-

-

Gain on divestitures

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

14,600

-

-

-

-

-

-

-

-

Non-cash impairment charges

-

-

-

-

-

-

-

-

-

-

-

-

-

500

1,600

0

1,500

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on extinguishment of long-term debt, net

-20,600

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loaner vehicle amortization

5,800

6,000

5,800

6,000

5,800

5,800

5,500

5,400

5,800

5,600

5,500

5,400

5,900

5,900

5,300

5,200

5,100

6,000

4,400

4,300

4,300

4,100

3,600

3,200

3,100

2,800

2,600

2,200

2,500

2,600

2,400

2,300

2,000

2,200

1,900

2,100

2,000

Gain (Loss) on Disposition of Business

33,700

-

0

11,700

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in right-of-use asset

5,200

5,100

5,000

4,800

4,500

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on sale of assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

900

25,900

Other adjustments, net

-200

-800

-1,100

300

-3,200

-1,200

-300

-600

-1,000

-2,000

-400

-800

-1,100

-1,600

600

-800

-2,300

-1,200

-1,200

-500

-1,300

-2,000

-400

-400

-300

-8,700

-500

-1,000

-1,400

1,300

-3,400

-2,100

-1,800

1,500

-1,600

-2,200

-1,600

Changes in operating assets and liabilities, net of acquisitions and divestitures—
Contracts-in-transit

130,000

-

-

-

39,400

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Contracts-in-transit

-

-

-

-

-

60,300

-7,200

-6,500

-41,600

61,500

6,900

-14,600

-43,100

53,700

-5,800

6,300

-47,300

43,400

-14,400

-5,000

-3,900

43,800

-19,800

-300

-9,000

40,200

-17,900

2,400

-13,200

41,700

-3,100

-10,300

-5,800

43,100

-7,800

-7,400

-1,600

Accounts receivable

-46,700

23,600

-4,700

2,200

-15,100

16,300

2,000

1,900

-18,700

19,800

-3,700

-2,200

-24,100

27,000

2,600

11,000

-21,100

15,600

3,200

1,700

-9,300

19,100

-7,800

8,400

-5,700

21,600

-2,200

7,900

-12,400

21,000

3,900

4,600

3,800

9,500

12,700

-11,500

-11,700

Proceeds from the sale of accounts receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

500

2,000

2,600

3,400

3,400

4,100

4,000

4,600

4,600

5,100

5,100

5,700

5,600

5,600

Inventories

-7,900

-11,100

-118,600

-102,000

19,600

50,800

-52,200

-8,600

34,400

-62,000

-130,200

-75,500

16,200

-27,200

-95,300

-35,500

52,700

5,100

-43,600

15,700

-27,300

36,800

-31,400

-3,400

-12,600

17,600

-5,400

-5,700

39,600

38,900

-15,200

-1,900

54,600

52,400

-31,200

-92,500

15,000

Other current assets

36,300

42,600

40,600

49,200

41,300

56,300

47,700

64,300

32,500

51,600

37,300

66,500

41,800

41,200

37,100

34,800

39,100

27,600

33,800

33,800

23,200

48,000

26,700

23,300

12,700

23,400

23,800

20,200

21,100

15,200

12,900

17,500

19,900

12,600

7,300

10,900

5,800

Floor plan notes payable—trade, net

-16,200

30,100

12,800

-8,500

3,800

11,800

-2,800

-5,500

6,300

-5,500

-19,700

1,000

20,100

3,200

-37,900

-2,400

19,900

30,200

-13,100

7,800

-13,700

6,000

7,300

3,700

-14,400

11,300

2,700

100

5,500

11,000

-5,400

-2,900

-13,100

-160,200

31,600

-89,700

-51,100

Floor plan notes payabletrade divestitures

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,800

0

-4,100

-18,900

Accounts payable and other current liabilities

-52,600

-1,100

20,000

-12,800

4,600

9,400

7,200

-11,300

-21,500

31,700

5,800

-57,000

16,900

42,400

3,600

-10,100

-4,500

18,400

0

-9,300

28,600

-5,300

-9,900

1,600

11,000

16,900

-5,200

-9,500

3,800

28,400

600

-11,600

12,100

1,000

-6,000

-400

13,300

Operating lease liabilities

5,300

5,200

5,000

4,900

4,600

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from deferred compensation plan termination

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

7,800

0

0

0

0

-

-

-

-

Distribution of deferred compensation plan assets to participants

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

7,800

0

0

0

0

-

-

-

-

Deferred compensation plan excess funding refund

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

3,200

0

0

0

0

Other long-term assets and liabilities, net

200

100

-1,800

-300

-900

400

-1,500

-1,000

700

1,800

-900

-600

-100

-400

-900

200

-800

-500

-1,800

-1,200

-700

100

-1,200

1,000

-100

-300

-1,400

-700

-700

300

600

-300

300

-1,100

100

800

-3,100

Net cash provided by operating activities

127,700

2,100

187,200

95,300

65,200

-96,300

77,300

-6,700

35,800

23,100

124,900

20,000

98,300

-8,800

81,500

24,600

45,200

15,000

55,800

9,100

80,100

-74,400

77,900

26,100

54,600

-24,300

50,300

16,300

8,400

-37,300

34,500

18,200

-36,100

-251,600

77,200

42,800

-49,600

CASH FLOW FROM INVESTING ACTIVITIES:
Capital expenditures—excluding real estate

9,100

-

-

-

3,600

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Capital expenditures—excluding real estate

-

-

-

-

-

18,800

9,300

8,900

3,300

20,900

9,900

6,100

5,400

34,100

18,600

18,900

9,800

37,100

14,600

11,400

8,600

14,400

12,600

18,000

13,300

21,800

13,600

9,600

6,200

23,300

14,600

10,500

8,000

5,700

5,300

4,600

6,400

Capital expenditures—real estate

2,300

0

9,200

0

0

0

0

0

17,600

5,500

0

300

0

0

0

3,400

7,200

7,900

0

20,600

1,800

4,400

11,500

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of previously leased real estate

0

-

-

-

4,900

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Capital expenditurescapitalized interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

100

200

400

-

400

200

300

-

-

-

-

-

-

-

-

Purchases of real estate

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6,100

500

0

6,000

-12,300

29,700

0

600

Purchases of previously leased real estate

-

-

-

-

-

0

4,400

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

12,900

-12,900

13,400

16,900

Acquisitions

63,100

0

91,500

0

118,500

0

0

45,800

45,500

0

0

0

80,100

0

0

0

0

-

-

-

-

130,300

0

17,300

4,600

0

61,800

0

0

-

-

-

-

-

-

-

-

Divestitures

115,500

0

0

39,100

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from the sale of assets

4,200

7,500

0

7,500

0

2,000

0

0

2,000

2,000

3,800

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-33,900

0

0

33,900

4,300

1,000

3,300

0

12,500

0

15,800

76,100

Other investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-600

Net cash provided by (used in) investing activities

45,200

-21,400

-113,900

34,700

-127,000

-16,800

-13,700

-54,700

-64,400

-29,800

-6,100

-6,400

-85,500

82,400

-25,700

-34,800

-17,000

5,900

39,700

-97,100

-10,400

-147,800

-29,200

-35,500

-18,300

-23,800

-105,000

-24,100

27,400

-68,900

-18,300

-12,300

-14,000

5,800

-22,100

-2,200

52,800

CASH FLOW FROM FINANCING ACTIVITIES:
Floor plan borrowings—non-trade

1,124,100

1,199,900

1,073,800

978,600

1,066,300

1,282,200

1,069,200

1,226,500

1,014,000

1,032,200

826,700

1,083,000

908,400

945,900

977,900

994,000

948,500

979,100

1,061,200

1,145,000

945,000

1,156,700

937,100

868,500

759,000

840,000

844,900

769,200

730,500

794,000

746,900

743,200

696,500

913,300

87,200

94,800

113,400

Floor plan borrowings—acquisitions

27,100

0

7,600

0

47,700

0

0

13,200

9,500

0

0

0

25,100

0

0

0

0

-

-

-

-

39,200

0

6,000

500

0

11,300

0

0

-

-

-

-

-

-

-

-

Floor plan repayments—non-trade

1,086,900

1,240,200

1,151,900

1,087,600

1,033,600

1,159,000

1,107,900

1,156,700

966,800

982,900

936,400

1,077,900

923,800

934,400

1,025,300

921,700

866,900

1,132,100

1,030,400

1,099,100

907,200

992,200

998,000

841,600

780,500

811,900

786,300

795,800

768,700

716,200

783,100

717,700

628,200

613,600

93,900

104,400

105,400

Floor plan repayments—non-trade divestiture

50,500

0

0

14,100

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

5,400

2,500

0

2,100

0

0

0

0

14,800

Proceeds from borrowings

1,355,300

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

36,300

78,700

109,700

12,500

32,100

34,100

0

0

-

-

-

-

Repayments of borrowings

1,156,100

36,400

4,100

4,000

3,900

9,200

3,600

3,500

3,600

40,500

3,900

3,800

3,800

4,000

4,000

4,100

3,100

2,700

2,800

2,900

2,900

303,100

3,000

2,600

2,300

1,500

148,000

1,200

1,200

700

15,600

17,000

25,800

36,900

50,300

2,400

7,100

Proceeds from sale and leaseback transaction

7,300

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of debt issuance costs

3,100

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

700

0

0

1,300

8,000

700

0

0

1,000

3,600

2,300

100

400

300

0

0

-

-

-

-

Purchases of treasury stock

0

-

-

-

7,400

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repurchases of common stock, including shares associated with net share settlement of employee share-based awards

5,000

0

4,200

11,600

4,700

48,400

17,000

20,400

24,400

200

5,100

15,300

19,000

50,100

100

60,300

105,100

44,500

104,300

55,200

108,200

92,200

39,900

20,900

14,700

9,700

8,200

5,100

11,600

7,600

6,400

8,600

2,700

15,700

15,700

13,600

4,100

Excess tax benefit on share-based arrangements

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

1,400

3,100

100

100

900

2,400

0

100

200

2,000

0

3,300

400

1,700

2,400

700

100

600

Proceeds from the exercise of stock options

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

100

0

100

0

2,100

300

1,500

3,600

2,000

200

800

Net cash provided by financing activities

212,200

21,000

-81,100

-131,300

64,400

114,600

-59,300

59,100

28,700

8,600

-118,700

-14,000

-13,100

-73,900

-53,900

7,600

-26,600

-22,000

-93,500

88,800

-71,500

214,000

-44,600

10,300

-35,600

52,200

-11,000

74,700

-41,900

106,500

-19,000

-1,500

43,000

248,900

-70,100

-25,300

-16,600

Net increase in cash and cash equivalents

385,100

1,700

-7,800

-1,300

2,600

1,500

4,300

-2,300

100

1,900

100

-400

-300

-300

1,900

-2,600

1,600

-1,100

2,000

800

-1,800

-8,200

4,100

900

700

4,100

-65,700

66,900

-6,100

300

-2,800

4,400

-7,100

3,200

-15,000

15,300

-13,400