Adtalem Global Education Inc. ATGE Cash Flow

Adtalem global education inc. (ATGE)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Dec'09	Sep'09
Operating activities:
Net income
150,712	5,420	14,252	49,794	37,866	17,506	-9,585	62,875	39,288	-80,782	12,916	43,354	40,022	14,755	25,149	-9,601	51,930	-50,471	5,386	30,256	47,204	42,802	20,437	37,936	55,544	48,408	-7,177	-31,366	57,160	51,224	31,822	8,485	67,304	9,280	57,312	75,688	92,909	88,872	73,361	71,902	80,920	72,590	54,571
Loss from discontinued operations
-2,719	4,117	-3,156	-14,497	3,139	-24,351	-4,734	-34,607	-3,571	-29,315	-12,653	-	-	-	-	-	-	-	-	-	-	-	-	-102	-607	-920	-15,328	-12,358	-1,532	-838	-2,174	-	-	-	-	-	-	-	-	-	-	-	-
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation expense
2,781	3,324	5,223	2,848	3,009	3,223	4,137	2,982	2,737	3,795	4,985	3,308	3,959	3,583	5,750	8,379	3,777	3,974	6,238	4,005	3,905	4,008	5,522	4,013	3,812	4,044	5,816	3,403	3,720	2,654	5,716	5,639	4,037	3,955	4,899	3,059	2,873	3,069	5,250	2,247	2,184	2,095	3,622
Amortization and adjustments to operating lease assets
11,060	8,505	12,804	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation
8,549	8,831	8,393	18,303	8,813	8,186	7,727	9,732	11,861	10,515	11,178	5,964	13,798	8,567	17,476	-16,030	19,979	19,693	19,677	22,882	20,764	20,914	20,448	21,198	20,822	20,739	19,980	21,502	20,767	21,016	19,826	17,960	19,553	19,446	17,513	13,173	14,968	14,600	13,721	12,844	13,257	13,131	11,993
Amortization of Intangible Assets
2,967	3,359	2,534	2,722	1,995	2,390	1,605	2,205	2,373	2,463	2,497	2,682	2,440	2,608	3,439	702	1,588	1,554	1,348	1,730	2,525	529	764	1,729	1,759	1,941	1,649	2,534	2,586	2,577	2,442	1,666	2,964	2,889	2,483	143	1,544	1,523	1,522	1,669	1,675	3,694	3,959
Amortization of Deferred Debt Issuance Costs
-	-	392	-	-	-	392	1,745	177	175	176	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Provision for Refunds and Uncollectible Accounts
1,519	5,882	5,554	13,991	2,493	1,454	1,203	3,550	5,253	3,581	4,536	-12,881	11,772	-2,370	22,481	-31,676	21,109	20,007	20,594	21,407	22,852	25,052	20,575	29,583	21,649	19,455	17,819	19,612	20,168	20,401	20,376	16,870	24,463	27,298	21,297	16,453	22,935	24,231	26,368	17,108	24,879	22,436	23,779
Deferred income taxes
-307	-860	2,991	-2,956	793	15,009	7,915	-14,136	3,161	-1,111	1,491	5,185	-12,118	7,402	3,328	-1,395	3,200	-16,977	-16	87	6,472	-356	-2,640	-16,730	-3,084	2,821	-1,122	-5,442	-4,344	-2,867	4,942	-3,668	-3,392	-11,021	9,256	8,607	18,167	-1,775	-172	-6,624	-3,918	-1,470	581
Loss on disposals, accelerated depreciation, and adjustments to property and equipment
953	-47	-1,053	-	-1,133	-1,965	-37,984	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Realized Loss on Investments
-	-	-11	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Unrealized Gain on Investments
-	-	33	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	81	313	831
Realized gain on sale of assets
0	0	4,779	-45,862	0	0	0	-1,764	23	-19,435	-10,552	-7,782	504	-2,811	-418	12,116	2,453	-7,311	-7,952	-462	-3,882	-2,377	-53	-5,889	-1,928	-741	-592	-2,719	-5,677	-1,876	-361	-380	-317	-551	63	-206	-144	-108	-10	-268	-46	-21	-331
Realized Gain on Sale of Assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	1,918	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Changes in assets and liabilities:
Restricted Cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2,978	6,056	-2,826	-	-876	-1,523	3,710	324	-3,850	4,622	232	-132	3,257	-652	2,048	-10,696	-17,605	25,102	3,389	-5,070	-1,730	-2,034	9,040	-53,763	1,266	43,690	5,560
Accounts receivable
5,143	-23,427	38,206	3,195	10,081	-24,769	39,199	7,446	25,641	-10,574	3,900	17,149	15,586	-36,186	45,280	-27,056	65,526	-58,254	76,472	10,540	79,627	-54,654	61,021	674	64,418	-43,395	60,565	-11,749	73,523	-28,235	90,909	-122,719	132,978	21,368	58,627	-99,826	93,938	15,621	68,248	-19,525	45,691	537	75,885
Prepaid expenses and other current assets
-2,322	5,799	13,646	12,352	-9,183	9,823	11,308	-47,418	-1,967	15,811	16,781	-8,332	-16,826	28,788	6,017	232	-3,544	14,028	-8,894	-1,009	20,185	9,851	-9,311	-8,045	-8,765	-4,501	3,163	30,530	-8,849	-21,527	-7,513	33,320	-2,792	-848	6,668	-7,007	9,660	-5,086	1,651	-4,702	-11,668	101	8,733
Accounts payable
2,411	-13,340	-7,566	13,632	-7,218	1,388	1,397	13,924	809	-9,017	4,248	15,342	-3,296	-4,483	-3,717	10,844	-2,874	-5,954	-3,303	4,552	2,797	-6,696	10,177	-2,350	-8,125	4,926	2,666	1,312	-6,560	-1,159	-290	8,640	1,794	-14,266	1,145	-245	1,553	-12,345	-15,839	1,216	17,909	-15,403	15,054
Accrued liabilities
1,285	11,434	-19,010	19,206	586	916	-14,257	24,600	-2,273	3,612	-30,877	14,567	-4,074	32,624	-33,617	7,501	17,738	-9,836	-10,363	3,453	1,617	-14,981	-14,814	9,440	10,896	-31,263	7,984	10,477	22,189	-17,966	6,376	15,820	41,249	-42,288	-25,110	22,036	18,761	-48,395	13,367	14,296	16,134	-11,749	12,173
Advance Tuition Payments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,256	1,551	-3,930	-93	861	1,835	-1,312	-3,210	-46,150	43,613	-1,058
Deferred revenue
68,634	-117,120	72,589	-19,512	61,273	-126,759	74,909	-25,621	62,616	-101,266	67,653	-17,793	48,382	-128,603	109,348	-74,737	92,029	-147,006	133,820	-86,258	109,712	-168,729	135,961	-95,800	96,690	-145,429	144,840	-97,615	54,773	-114,595	156,927	-274,328	89,233	9,543	170,518	-324,154	138,451	14,732	158,642	-279,486	142,498	5,741	143,210
Operating lease liabilities
14,079	13,868	13,681	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other assets and liabilities
4,311	-1,000	-1,270	-	3,229	4,989	14,137	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by operating activities-continuing operations
115,982	-57,597	33,301	119,269	105,116	-51,453	53,517	70,037	105,876	-35,960	81,327	-	-	-	-	-57,721	143,170	-40,062	116,581	-	-	-	-	2,057	150,695	-29,179	142,497	-22,163	103,487	20,663	165,228	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by operating activities-discontinued operations
3,223	-3,545	14,167	-42,946	398	-3,540	24,497	-14,112	27,609	-4,598	9,010	-	-	-	-	-	-	-	-	-	-	-	-	295	-607	1,080	-1,277	1,245	-1,269	-4,580	-1,106	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by operating activities
119,205	-61,142	47,468	76,323	105,514	-54,993	78,014	55,925	133,485	-40,558	90,337	61,133	128,309	-57,280	98,758	-	-	-	-	-	-	-	141,063	2,352	150,088	-28,099	141,220	-20,918	102,218	16,083	164,122	-77,707	135,833	32,660	186,636	-77,241	211,298	77,954	195,979	-89,780	214,064	90,058	177,206
Investing activities:
Capital expenditures
11,623	9,875	10,436	19,482	13,211	18,737	13,321	16,097	18,960	19,700	11,773	12,957	10,780	7,453	11,318	451	9,956	18,295	22,753	24,406	21,240	21,909	21,152	31,746	14,183	11,246	22,180	33,774	30,788	21,591	25,622	33,131	29,140	29,207	33,820	41,303	37,636	30,653	23,010	29,410	39,970	35,147	26,482
Proceeds from sales of marketable securities
870	412	290	216	489	1,136	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	13,495	46,000	0	0	0
Purchases of marketable securities
1,002	461	292	251	780	1,138	4,152	14	9	123	13	11	9	63	10	11	8	73	13	11	7	129	11	-54	83	97	9	-175	186	74	8	-5	8	48	10	10	9	49	33	32	8	27	12
Proceeds from sale of assets
0	0	6,421	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	65	2,000	6,662	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Payment for Purchase of Businesses, Net of Cash Acquired
-	-	-	-	-	-	-	-	-	-	-	0	0	-503	331,070	3,287	0	170,577	0	-	-	-	-	1,227	0	0	12,343	0	0	1,848	29,538	5,219	24,247	-1,925	227,828	-	-	-	-	-	-	-	-
Other
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	693	0	7
Net cash used in investing activities-continuing operations
-11,755	-9,832	-4,017	-137,926	-13,502	6,967	-17,473	-21,111	-22,038	-20,795	-11,786	-	-	-	-	-28,537	14,824	-188,945	-25,880	-	-	-	-	-	-	-	-	-41,248	-30,974	-23,513	-55,168	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities-discontinued operations
-1,218	-857	-1,728	5,584	-2,287	-2,184	-2,946	-909	-2,265	9,576	-2,122	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-401	-356	-357	-615	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities
-12,973	-10,689	-5,745	-133,535	-15,789	-44,093	-20,419	-22,020	-24,303	-11,219	-13,908	-16,476	-12,132	-8,648	-342,398	-	-	-	-	-	-	-	-21,163	-32,919	-14,201	-9,343	-27,870	-41,649	-31,330	-23,870	-55,783	-42,102	-53,395	-22,855	-261,658	-47,464	-38,272	-30,702	-9,548	16,558	-40,671	-35,174	-26,501
Financing activities:
Proceeds from exercise of stock options
248	1,200	828	169	41	6,292	10,492	1,264	12,975	7,698	1,884	7,285	6,606	7,434	6,350	66	0	31	240	2,814	634	2,114	3,266	4,246	2,660	2,379	1,197	3,202	635	109	1,030	93	2,517	943	2,581	6,017	2,108	544	429	3,409	5,893	2,591	1,148
Employee taxes paid on withholding shares
83	187	5,045	274	126	1,213	5,188	341	56	320	3,486	237	69	272	2,378	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from stock issued under Colleague Stock Purchase Plan
0	0	0	0	109	153	159	218	194	196	195	230	196	228	211	278	317	279	279	338	192	365	309	363	301	369	339	422	522	269	487	418	506	404	388	427	372	344	317	241	286	232	238
Repurchases of common stock for treasury
36,870	59,764	40,255	75,949	60,970	56,758	59,175	25,402	18,448	42,803	50,375	17,956	14,171	8,126	8,255	8,256	7,868	8,255	8,255	7,246	7,131	9,056	2,485	0	0	0	0	5,533	9,786	12,855	25,712	33,933	32,127	47,583	44,450	28,194	29,001	39,413	36,332	19,012	6,355	4,663	11,653
Payments of Seller Financed Obligations
-	-	-	-	-	-	-	854	2,618	1,626	6,315	876	425	0	3,518	5,610	2,414	545	2,931	0	1,881	0	4,097	2,638	4,319	0	2,138	3,822	0	0	0	-	-	-	-	-	-	-	-	44,815	44	191	61
Borrowings under credit facility
65,000	130,000	30,000	135,000	0	0	0	320,000	57,000	125,000	76,000	62,000	60,000	165,000	240,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	30,000	40,000
Repayments under credit facility
30,750	45,750	100,750	25,750	750	750	750	140,000	102,000	95,000	66,000	57,000	165,000	70,000	110,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	90,000	60,000
Cash Dividends Paid
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	10,962	0	10,927	14	10,822	0	10,914	9,793	-61	10,145	0	8,285	0	8,395	17	7,117	0	7,123	0	5,716
Proceeds from down payment on seller loan
0	0	5,200	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	58	69	82	91
Payment for purchase of redeemable noncontrolling interest of subsidiary
0	0	6,247	-	0	0	0	-	-	-	-	-	-	-	-	0	0	0	3,114	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess Tax Benefit from Stock-Based Payments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-390	52	6	-63	455	-41	313	451	458	92	11	727	1,571	1,018	139
Net cash used in financing activities-discontinued operations
-1,155	-1,285	-480	-	-1,308	-376	-470	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in financing activities
-5,375	25,979	-116,269	33,055	-63,004	-52,652	-54,462	145,109	-52,953	-6,855	-48,097	-6,554	-112,865	82,852	122,410	-28,410	-9,965	-20,053	-10,667	-15,732	-11,658	-18,216	-3,007	-8,991	-1,358	-8,179	-616	-16,221	-9,019	-23,339	-33,982	-33,424	-38,794	-46,347	-49,453	-24,589	-34,458	-38,450	-42,692	-59,392	-5,703	-60,931	-35,814
Effect of exchange rate changes on cash, cash equivalents and restricted cash
-24,870	3,713	-6,750	3,022	-738	1,868	-1,579	-10,920	329	-2,808	1,765	-1,684	328	-699	695	6,412	3,992	-9,200	3,397	-2,684	1,465	-586	-1,973	931	252	-889	-1,334	-2,062	-134	-181	-867	-2,131	47	-627	248	-76	-1,335	-514	-447	419	-343	-646	-850
Net decrease in cash, cash equivalents and restricted cash
77,752	-43,904	-81,776	-21,135	25,983	-149,870	1,084	168,094	56,558	-61,440	30,097	36,419	3,640	16,225	-120,535	-25,610	152,021	-258,260	83,431	-46,697	22,150	-93,143	114,920	-38,627	134,781	-46,510	111,400	-80,850	61,735	-31,307	73,490	-155,364	43,691	-37,169	-124,227	-149,370	137,233	8,288	143,292	-132,195	167,347	-6,693	114,041
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	335	261	264	263	313	262	241	239	220	93	71	70	183	131	284	269
Income Taxes, Net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	19,460	4,925	3,842	616	31,679	1,604	44,492	3,130	35,136	26,458	85,023	5,936	38,376	43,829	47,581	716
Non-cash Investing and Financing Activity:
Decrease in Redemption Value of Noncontrolling Interest Put Options
-	-	0	-	-	-	241	2,445	42	-465	-150	-1,162	-283	1,335	-66	4,823	711	-955	-2,775	-4,664	877	1,133	227	-9,968	195	-168	5,081	-1,458	-223	-674	562	-326	363	41	593	-203	422	236	866	163	646	229	707