Bright horizons family solutions inc. (BFAM)
CashFlow / TTM
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'12
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income (Loss) Attributable to Parent

169,076

180,386

179,280

171,626

162,725

157,981

162,768

160,273

152,887

156,963

122,639

114,044

111,407

94,760

101,558

99,606

96,122

93,927

88,903

83,724

78,519

72,035

76,817

76,380

79,173

12,344

-7,105

-19,441

-45,862

8,509

0

0

0

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

110,028

108,269

106,224

104,357

102,722

100,943

99,633

98,105

96,045

94,776

93,483

90,797

88,173

85,284

82,217

81,091

79,805

78,666

77,654

77,163

77,218

77,447

77,827

77,157

75,977

72,808

69,451

63,332

61,725

61,348

0

0

0

Gain (Loss) on Extinguishment of Debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-63,682

0

0

0

-

-

-

-

Amortization of original issue discount and deferred financing costs

-

-

-

-

-

-

-

-

-

1,776

1,936

2,452

2,970

3,474

3,772

3,725

3,678

3,583

3,465

3,307

3,147

3,052

3,013

3,014

3,014

2,763

0

0

0

-

-

-

-

Impairment losses on long-lived assets

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

694

0

0

0

Loss on foreign currency transactions and other

0

-

-

-

0

-

-

-

-

0

-1,707

-105

-146

-43

97

14

75

-232

-54

1

33

149

0

0

0

-

0

0

0

-

-

0

0

Interest paid in kind

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,143

8,369

14,400

20,240

23,754

0

0

0

Change in the fair value of the interest rate cap

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-67

0

0

0

Non-cash revenue and other

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

618

618

618

618

334

319

319

319

0

0

0

(Gain) Loss on disposal of fixed assets

-

-

-

-

-

-

-

-

-

-2,760

-2,218

-736

-692

143

8

-81

-71

-351

-571

-429

-489

-667

-221

-298

-387

-566

-783

-579

-753

-437

0

0

0

Stock-based compensation expense

18,460

17,283

15,846

14,840

14,026

13,811

13,599

13,147

12,586

12,072

11,947

11,514

11,426

11,646

10,776

10,246

9,497

9,200

8,360

8,099

7,837

7,922

7,626

6,810

6,457

10,692

10,424

10,102

23,991

17,596

0

0

0

Deferred income taxes

-20,188

-11,344

2,335

519

-1,183

-5,469

-42,319

-44,101

-40,837

-37,562

-6,354

-4,851

-7,570

-12,121

-10,750

-8,009

-6,919

-758

-8,054

-9,044

-8,893

-13,376

-13,836

-14,000

-13,428

-13,410

3,235

1,696

-9,158

-12,045

0

0

0

Non-cash lease expense

-

-

-

-

-

-

-

-

581

-

9,550

9,470

8,245

7,517

3,952

3,618

4,100

4,642

3,394

3,561

3,409

3,222

2,444

2,132

2,121

2,180

0

0

0

-

-

-

-

Other non-cash adjustments — net

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in assets and liabilities:
Accounts receivable

41,726

15,718

11,381

19,281

21,920

14,498

9,341

8,963

7,833

18,689

11,717

8,777

13,830

78

10,765

4,164

8,615

13,340

7,154

9,364

15,777

4,604

8,497

-1,566

-2,880

11,458

3,762

6,577

9,195

1,580

0

0

0

Prepaid expenses and other current assets

10,169

-1,818

14,809

13,793

-18,544

-2,795

-12,787

-11,591

14,577

3,450

17,394

25,694

20,027

7,369

-23,141

-20,784

-16,693

-3,825

15,972

8,131

6,088

-2,174

-14,609

-15,904

-13,197

5,393

28,616

29,481

19,160

4,110

0

0

0

Accounts payable and accrued expenses

34,660

9,032

13,456

4,166

-10,224

15,912

13,248

22,248

22,214

5,912

12,771

-16,832

-3,361

-6,858

-24,642

-16,733

5,702

-6,448

29,586

21,051

5,978

9,589

-2,699

-678

-6,434

365

-5,730

-11,399

8,185

1,155

0

0

0

Income taxes

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Leases

-26,050

-11,762

2,430

2,937

-7,672

-4,543

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred revenue

-6,188

23,038

17,401

15,156

13,475

12,073

3,885

-1,686

8,304

9,316

15,430

27,501

21,104

7,750

12,156

13,390

13,379

2,955

6,029

8,663

13,192

14,259

15,369

11,809

8,472

22,350

9,154

6,546

7,608

-1,694

0

0

0

Accrued rent and related obligations

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

Other assets

-2,297

904

-4,564

-1,474

-1,623

-100

5,941

4,435

4,702

387

730

2,014

-265

319

9,220

10,197

12,587

14,296

6,266

3,324

2,634

1,672

-2,790

-1,996

854

-149

2,908

3,384

863

2,180

0

0

0

Other current and long-term liabilities

-1,434

2,287

5,767

7,038

6,297

6,054

7,661

1,255

2,043

5,698

4,524

8,643

6,897

3,179

14,922

18,078

16,535

16,854

7,544

1,555

7,505

-3,072

-1,283

-1,605

-1,377

10,152

4,424

5,019

5,278

2,512

0

0

0

Net cash provided by operating activities

287,423

330,353

327,481

296,579

295,912

294,747

274,858

269,375

247,368

248,193

261,295

233,932

234,093

213,217

192,746

201,919

208,591

170,056

195,249

184,947

169,918

174,297

159,525

165,622

159,050

159,679

135,798

114,965

121,137

106,982

0

0

0

CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of fixed assets

104,744

111,845

104,122

101,416

103,874

92,491

87,913

85,153

81,040

88,122

87,938

90,236

84,591

75,334

66,836

63,278

71,511

77,785

79,656

77,293

68,814

66,194

62,303

60,548

61,608

69,509

76,454

81,060

78,358

69,086

0

0

0

Proceeds from the maturity of debt securities and sale of other investments

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of other investments and debt securities

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments and settlements for acquisitions — net of cash acquired

37,464

53,425

46,208

42,347

69,885

67,111

55,702

55,082

35,221

21,484

223,956

243,404

228,783

228,737

33,290

57,568

79,480

77,619

73,336

29,110

14,294

13,222

10,945

72,121

129,812

129,812

0

0

0

-

-

-

-

Proceeds from the disposal of fixed assets

8,400

7,080

5,845

4,891

4,915

1,826

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

Purchases of debt securities and other investments

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Settlement of purchase price for prior year acquisitions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

1,030

0

0

0

-

-

-

-

-

-

-

-

Net cash used in investing activities

-141,472

-189,070

-171,114

-159,663

-189,622

-158,543

-139,018

-135,879

-111,931

-105,321

-310,660

-332,406

-312,140

-302,837

-100,076

-120,796

-150,941

-155,354

-152,607

-106,018

-81,868

-78,001

-74,029

-133,450

-193,056

-201,132

-205,607

-148,909

-190,162

-180,890

0

0

0

CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings of long-term debt, net of issuance costs of $20.6 million

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

Extinguishment of long-term debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

972,468

0

0

0

-

-

-

-

Payments of debt issuance costs

-

-

-

-

-

-

-

-

-

-

-

-

-

1,002

1,002

1,002

1,002

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from initial public offering, net of issuance costs of $20.6 million

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

234,944

0

0

0

-

-

-

-

Borrowings under revolving credit facility

188,674

288,674

359,674

477,474

580,700

679,900

661,300

681,400

724,401

643,201

650,369

611,769

508,768

445,868

419,700

424,000

332,900

267,300

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Payments under revolving credit facility

238,382

406,532

453,332

589,432

660,050

688,800

632,800

636,100

609,901

592,101

614,869

574,369

493,868

393,868

416,200

394,400

332,900

243,300

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments of long-term debt

10,750

10,750

10,750

10,750

10,750

10,750

10,751

10,750

8,063

8,063

5,375

5,076

7,463

7,163

9,550

9,550

9,550

9,550

9,138

8,725

8,313

7,900

7,900

7,900

7,900

7,900

6,137

4,374

2,612

5,472

0

0

0

Purchase of treasury stock

64,151

31,553

52,977

41,644

41,014

126,679

172,985

174,697

241,450

162,195

92,050

91,119

95,877

112,792

106,242

150,355

150,750

128,103

331,882

291,142

222,315

221,577

0

0

0

-

-

-

-

5,140

0

0

0

Taxes paid related to the net share settlement of stock options and restricted stock

13,778

11,326

6,619

6,006

7,143

7,540

11,420

13,563

9,702

29,798

25,830

31,056

31,019

7,747

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of common stock upon exercise of options and restricted stock upon purchase

31,107

26,559

25,647

24,752

26,501

22,933

23,172

23,298

22,663

26,988

21,240

22,552

22,168

11,679

11,507

8,090

7,283

9,811

11,218

12,594

17,647

17,422

16,025

17,399

13,353

11,040

8,671

4,668

1,672

2,115

0

0

0

Proceeds from issuance of restricted stock

-

-

-

-

-

-

0

0

4,515

-

4,363

4,305

4,636

3,682

3,682

3,682

3,351

3,864

0

0

0

-

4,709

4,709

4,709

0

0

0

0

-

-

-

-

Payments of contingent consideration for acquisitions

5,288

4,200

4,200

350

350

2,965

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments of contingent consideration for acquisitions

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefits from stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

12,891

13,502

9,555

8,245

9,397

8,646

8,624

10,337

9,123

7,934

8,576

6,045

5,923

4,845

2,666

1,611

3,381

0

0

0

Net cash used in financing activities

-112,568

-149,128

-143,115

-146,808

-116,855

-134,193

-147,044

-133,749

-126,411

-123,864

81,713

86,437

60,523

93,755

-93,100

-110,730

-142,423

-90,581

-128,989

-112,982

-36,977

-36,420

-11,203

15,567

12,069

36,761

59,815

34,796

114,828

77,205

0

0

0

Effect of exchange rates on cash, cash equivalents and restricted cash

-1,192

559

202

-219

14

-103

-848

831

1,823

1,507

2,173

1,268

-1,214

-1,121

-1,479

-2,287

1,264

-468

-1,268

-1,310

-3,146

-1,575

-295

1,545

936

168

-53

-617

-619

364

0

0

0

Net increase (decrease) in cash, cash equivalents and restricted cash

32,191

-7,286

13,454

-10,111

-10,551

1,908

-12,052

578

10,849

20,515

34,521

-10,769

-18,738

3,014

-1,909

-31,894

-83,509

-76,347

-87,615

-35,363

47,927

58,301

73,998

49,284

-21,001

-4,524

-10,047

235

45,184

3,661

0

0

0

SUPPLEMENTAL CASH FLOW INFORMATION:
Cash payments of interest

41,203

43,051

44,978

45,528

46,451

46,122

45,211

44,266

42,487

44,464

41,788

41,004

40,327

37,090

38,433

38,385

38,570

38,110

36,643

34,973

33,524

32,473

32,430

33,099

33,405

34,928

48,380

53,440

49,194

51,974

0

0

0

Cash payments of income taxes

53,485

50,553

53,688

47,358

44,479

41,936

35,233

32,609

29,634

31,290

30,261

36,316

33,071

34,670

36,071

41,767

42,122

49,819

54,269

47,682

44,998

41,713

34,617

28,459

17,822

13,931

14,762

16,192

15,559

12,823

0

0

0

Cash paid for amounts included in the measurement of lease liabilities

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

NON-CASH TRANSACTIONS:
Fixed asset purchases recorded in accounts payable and accrued expenses

3,194

4,549

6,778

6,044

8,255

6,359

3,600

3,000

1,473

1,500

3,000

3,000

3,000

3,000

1,500

500

3,000

2,000

4,500

5,500

3,000

3,000

2,000

2,000

2,000

0

0

0

0

-

-

-

-

Operating right-of-use assets obtained in exchange for operating lease liabilities — net

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-