Apogee enterprises, inc. (APOG)
CashFlow / Quarterly
Feb'20Nov'19Aug'19Jun'19Mar'19Dec'18Aug'18Jun'18Mar'18Dec'17Aug'17May'17Mar'17Nov'16Aug'16May'16Feb'16Nov'15Aug'15May'15Feb'15Nov'14Aug'14May'14Feb'14Nov'13Aug'13May'13Feb'13Nov'12Aug'12May'12Feb'12Nov'11Aug'11May'11
Operating Activities
Net earnings

11,958

15,234

19,279

15,443

-12,084

21,891

20,514

15,373

22,329

23,647

17,408

16,104

23,119

22,552

22,397

17,722

19,936

18,520

14,760

12,126

13,888

13,736

16,790

6,102

8,038

9,668

6,121

4,159

4,396

8,052

5,057

1,606

2,963

5,536

-1,677

-2,177

Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization

12,114

11,922

11,657

11,102

11,420

11,921

12,407

14,050

15,069

14,712

13,639

11,423

11,337

8,315

8,235

7,720

7,912

7,834

7,761

7,741

7,865

7,815

6,977

6,766

6,974

6,401

6,664

6,511

6,712

6,704

6,585

6,528

6,631

6,739

6,854

7,022

Share-based compensation

2,000

1,400

1,582

1,618

1,600

1,581

1,605

1,514

1,555

1,582

1,660

1,403

1,583

1,468

1,545

1,390

1,237

1,272

1,374

1,040

1,088

1,123

1,332

1,250

1,190

1,165

1,188

1,118

881

1,196

1,290

1,028

1,069

1,331

1,602

410

Deferred income taxes

375

227

3,423

6,438

-16,106

4,539

1,967

4,094

6,534

-2,588

-3,291

2,540

2,270

-2,015

-1,697

377

-1,113

-2,774

-2,610

358

5,296

-2,642

2,121

-501

-3,056

-2,271

-229

276

2,860

-137

264

570

-2,927

622

787

403

Excess tax benefits from stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

291

1,080

3,619

-

397

538

1,589

945

157

614

1,009

103

190

165

25

-

-

-

-

(Gain) loss on disposal of assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

131

-164

129

102

98

163

219

453

332

483

510

304

1,077

297

284

296

211

213

289

203

Cash flows from operating leases

-

-

-

-2,902

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other, net

-491

-16

261

1,762

1,380

117

242

440

145

118

-55

1,223

1,050

-143

1,049

375

-455

-13

-510

-39

-235

-83

101

-12

-265

612

-167

-231

-763

-57

-97

-239

-405

-13

-24

-74

Changes in operating assets and liabilities:
Receivables

-1,071

-3,927

-7,767

16,982

-8,873

1,307

15,585

-26,183

-34,303

24,814

-3,558

-5,125

-18,695

938

1,072

13,225

9,470

13,346

-9,078

-10,820

-2,109

10,643

10,640

-586

10,982

5,845

6,184

-3,782

-6,142

9,890

6,026

3,590

-13,059

10,792

4,512

5,686

Inventories

-4,668

1,580

-3,219

-835

-716

-1,651

3,831

-6,578

-12,302

-5,157

-1,021

8,093

763

4,679

-1,007

5,883

-621

4,692

-2,513

1,240

1,345

4,201

846

2,268

1,752

229

-264

4,413

-6,463

3,145

723

4,804

-2,909

-2,782

1,628

5,698

Costs and earnings on contracts in excess of billings

1,312

-2,709

13,858

6,007

-5,857

15,378

3,933

35,258

-567

-332

146

-381

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable and accrued expenses

22,082

-3,413

-2,210

-16,834

27,672

-4,663

4,306

-19,715

1,822

6,533

-3,246

-30,736

15,552

9,408

13,804

-21,315

15,969

14,012

5,413

-18,129

9,830

13,151

1,567

-11,677

7,839

15,093

7,261

-11,911

-1,115

12,994

9,789

-10,510

-6,508

1,287

6,823

-8,882

Billings on contracts in excess of costs and earnings

6,413

6,902

-803

-1,198

-5,532

2,109

516

11,933

-26,410

5,050

-290

5,109

-14,887

-5,815

198

10,513

2,266

4,227

-4,027

7,191

-3,231

-5,200

7,122

985

6,589

-1,735

-1,601

-2,051

-4,907

-2,254

756

5,210

2,794

1,665

-1,462

-3,853

Refundable and accrued income taxes

-2,567

-518

-1,272

-4,369

1,849

-299

1,829

301

-6,793

29

2,212

4,867

-8,574

237

-3,842

2,532

-570

95

7,703

5,361

-4,642

8,354

-7,628

2,825

-2,069

2,049

2,044

1,425

-2,303

524

776

-3,083

10,078

800

-1,088

-1,903

Other, net

2,114

-768

791

928

233

351

2,204

-730

1,029

4,051

-2,354

988

-57

-701

426

-60

-674

965

23

731

-1,200

556

513

842

1,263

352

142

-19

1,110

1,126

-674

530

934

-265

-385

43

Net cash provided by operating activities

53,661

35,799

27,544

-9,742

25,779

22,715

22,586

25,343

61,224

25,430

34,897

5,912

51,186

29,273

44,026

-484

42,776

24,069

41,243

20,855

34,719

20,460

15,424

1,196

10,215

30,444

14,429

-2,167

17,602

12,488

18,090

-7,657

29,274

9,997

5,819

-20,536

Investing Activities
Capital expenditures

10,252

18,617

11,361

11,198

26,850

9,626

14,914

9,327

14,250

12,121

15,395

11,430

23,513

13,074

13,749

17,725

15,280

7,391

10,614

8,752

8,561

5,392

4,529

8,738

24,597

9,019

6,724

1,512

13,399

5,586

6,170

9,509

3,444

2,629

1,963

1,614

Proceeds from sales of property, plant and equipment

-

-

-

-

-

-

-

-

1,141

189

64

0

-

-

-

-

-

-

-

-

-

-

-

201

-

275

289

169

1,030

30

4

14

6

1

7

10,306

Purchases of marketable securities

2,811

349

2,972

880

207

-60

447

8,619

90

4,718

3,901

1,535

684

176

202

2,643

-28,737

7,633

21,131

35,787

126

4,650

882

484

262

2,620

1,455

10,225

18,010

11,851

11,946

17,040

12,075

7,429

3,121

6,341

Sales/maturities of marketable securities

2,901

345

3,410

1,112

297

870

2,448

2,495

1,188

5,017

1,051

3,220

32,730

1,409

402

1,892

282

81

1,988

1,696

125

541

5,412

868

3,103

15,058

16,203

6,656

14,373

12,529

8,478

5,915

12,873

4,414

9,330

8,954

Change in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-2,065

16,949

0

-

-

-

-

-

-

-

-

0

33,400

0

2,800

0

0

0

10,000

299

0

1

12,328

Other, net

150

402

65

1,056

0

0

1,430

779

90

158

643

-1,742

2,220

124

202

1,842

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Sales/maturities of restricted investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

483

786

798

21,147

16,312

603

22,053

224

3,168

340

1,740

360

1,804

10,243

12,947

Investments in corporate-owned life insurance policies

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,983

69

823

-

108

427

0

-

-

-

-

0

551

0

900

0

0

0

1,435

Net cash used by investing activities

-5,596

-18,432

-10,988

-12,022

-26,759

2,862

-13,569

-16,230

-10,124

-11,791

-203,650

-8,003

-116,722

-9,897

-28,987

-20,318

13,562

-17,926

-29,826

-43,666

-8,153

-9,126

159

-7,355

-1,031

-64,045

6,761

14,341

-15,782

-2,276

-9,294

-29,780

-2,579

-3,849

14,437

10,489

Financing Activities
Borrowings on line of credit

-

-

81,500

103,000

-

-

115,000

90,000

71,000

30,500

247,200

37,000

121,000

0

-1,893

1,893

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of term debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,189

-

1,139

765

0

-

-

-

-

0

0

0

10,000

-

-

-

-

Payments on line of credit

-

-

252,000

55,500

-

-

104,500

92,000

-

56,700

63,000

31,000

-

0

0

0

-

-

-

-

-

-

-

12

179

39

14

10,015

39

39

41

45

-

-

-

-

Payments on debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

200

Payments on debt issue costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

59

380

1

193

0

93

34

32

Shares withheld for taxes, net of stock issued to employees

-

-

-

-

-

-

-

-

-

-51

16

1,596

-464

-46

-242

1,198

-13

89

1,150

2,028

290

-92

543

3,164

-1,671

-400

220

1,141

-1,123

-293

-263

817

-555

-9

94

658

Excess tax benefits from stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

291

1,080

3,619

-

397

538

1,589

945

157

614

1,009

103

190

165

25

-

-

-

-

Repurchase and retirement of common stock

5,130

0

0

20,010

20,013

23,313

0

0

-

-

-

-

-

-

-

-

-

-

-

-

0

0

6,031

863

0

0

0

0

-

-

-

-

-

-

-

-

Dividends paid

4,906

4,605

4,605

4,598

4,684

4,357

4,413

4,410

4,422

3,977

3,992

4,002

3,980

3,554

3,573

3,560

3,552

3,201

3,216

3,215

3,196

2,899

2,898

3,078

2,896

2,591

2,590

2,687

2,565

2,558

2,550

2,643

-

-

-

-

Other, net

-576

-91

-1,223

-1,270

42

-1,674

1,217

-721

-3,596

280

1,759

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash (used) provided by financing activities

-43,612

-26,196

-26,328

21,622

-11,155

-19,913

5,873

-7,131

-43,340

-29,846

171,118

402

41,484

-14,717

-5,240

-2,865

-26,589

-10,874

-3,507

-435

-8,053

-1,271

-8,157

-5,528

-342

-2,117

-2,283

-12,834

-1,437

-2,494

-2,164

6,327

-1,829

-4,640

-5,757

-890

Net cash used in operating activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-37

9

-3,272

Net cash used in discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-37

9

-3,272

(Decrease) increase in cash and cash equivalents

4,453

-8,829

-9,772

-142

-12,135

5,664

14,890

1,982

7,760

-16,207

2,365

-1,689

-24,052

4,659

9,799

-23,667

29,749

-4,731

7,910

-23,246

18,513

10,063

7,426

-11,687

8,842

-35,718

18,907

-660

383

7,718

6,632

-31,110

28,166

1,471

14,508

-14,209

Effect of exchange rates on cash

-31

-86

261

-143

-21

-232

-545

279

-1,246

-476

1,508

47

-250

-36

210

164

8

-746

76

-735

-395

-644

129

315

-230

-70

-413

40

-34

147

-107

111

-63

-158

-7

17

Noncash Activity
Capital expenditures in accounts payable

964

-378

-84

1,667

-4,068

4,015

-406

2,162

-75

663

-3,005

4,201

-3,429

4,163

-935

3,455

-3,108

-643

-349

1,363

1,801

13

-79

921

-635

1,077

21

298

-335

85

654

149

371

-165

166

174