BJ’S RESTAURANTS, INC. BJRI Cash Flow

Bj’s restaurants, inc. (BJRI)

CashFlow / Quarterly

Mar'20	Dec'19	Oct'19	Jul'19	Apr'19	Jan'19	Oct'18	Jul'18	Apr'18	Jan'18	Sep'17	Jun'17	Mar'17	Jan'17	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
Cash flows from operating activities:
Net (loss) income
-4,267	14,511	3,671	14,192	12,864	10,685	8,516	16,945	14,664	23,486	2,389	9,639	9,266	12,887	7,237	13,789	11,644	10,908	12,364	12,438	9,615	8,253	6,482	8,004	4,658	504	3,648	8,597	8,273	6,988	6,839	8,967	8,615	9,871	6,336	8,168	7,195
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization
18,345	18,362	18,163	17,839	17,642	17,679	17,686	17,620	17,454	17,434	17,430	17,052	16,749	16,345	16,292	16,040	15,598	15,409	15,093	14,554	14,361	14,132	13,981	13,822	13,452	13,133	12,465	11,940	11,469	11,199	10,562	10,060	9,526	9,228	8,644	8,256	7,947
Non-cash lease expense
7,179	7,127	7,023	6,981	6,595	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income taxes
-6,899	1,009	-2,175	-1,263	-344	1,812	-1,471	-663	-2,490	-15,972	-2,088	-40	1,614	2,956	-209	2,435	1,891	1,826	1,254	2,074	165	1,468	170	1,182	1,596	-3,562	-3,089	1,135	2,068	2,495	782	1,659	1,828	1,913	1,286	1,397	1,473
Stock-based compensation expense
1,543	2,379	2,160	2,295	2,084	1,998	2,177	1,798	2,283	1,675	1,741	1,894	1,636	947	1,474	1,556	1,550	1,455	1,412	1,269	1,259	1,070	1,123	1,420	1,242	1,087	948	1,216	1,167	1,344	1,127	1,039	1,075	1,303	1,236	1,095	1,044
Loss on disposal and impairment of assets
-2,905	-244	-931	-1,042	-1,645	-999	-865	-1,123	-1,061	-607	-1,070	-2,411	-687	-705	-810	-707	-749	-1,195	-689	-641	-383	-839	-283	-419	-422	-3,231	-79	-469	-100	-106	0	-397	-54	-114	-257	-283	-385
Changes in assets and liabilities:
Accounts and other receivables
-10,296	5,073	-1,818	1,349	-16,750	16,574	70	2,148	-2,977	2,769	-11,039	10,973	-2,493	2,940	-2,423	294	-10,715	2,894	-223	1,724	-3,401	3,545	1,244	526	78	2,484	-1,351	380	-8,359	11,640	-2,251	-37	-1,320	2,492	-880	-9	-1,409
Landlord contribution for tenant improvements
-	-	-	-	-	-628	-1,877	620	2,637	-1,441	-1,480	893	463	-203	770	260	-1,589	-1,775	-2,598	1,748	2,199	2,569	-250	-1,292	-400	386	890	-1,140	475	-	-	-	-	-	-	-	-
Inventories, net
-585	630	-117	-89	545	7	-21	-13	-354	288	-115	149	285	394	20	267	333	257	615	198	-187	361	72	442	-298	516	22	403	431	-5	71	547	-515	1,613	-1,790	1,470	347
Prepaid expenses and other current assets
-558	4,499	-1,301	-501	-1,304	-1,465	-161	-1,831	397	3,321	-343	-1,698	-562	8,956	-2,425	-316	-1,150	3,818	-3,470	-342	-1,483	3,778	-317	-903	-896	1,452	323	-291	-1,075	2,408	-17	-219	-1,455	4,277	1,908	-1,079	-685
Other assets, net
-1,009	1,038	912	2,106	3,767	-290	706	668	604	513	900	1,591	1,018	1,528	1,647	1,356	726	487	526	513	1,756	353	924	1,096	333	925	783	682	410	566	956	891	893	579	400	266	486
Accounts payable
5,326	-5,825	-3,465	3,783	-4,292	8,933	2,796	-4,168	-2,815	3,527	-3,464	-3,153	1,829	3,714	1,490	-4,914	252	3,305	-244	-2,342	-2,702	4,396	-755	-1,382	-1,417	2,482	576	449	4,064	-4,547	2,729	5,195	-3,428	1,076	-3,048	8,774	-5,361
Accrued expenses
-25,919	13,721	-7,779	7,768	-18,120	11,310	-9,198	13,822	-5,614	13,571	-10,604	11,822	-12,137	5,797	6,304	-3,400	1,991	-517	9,900	-1,604	3,495	957	5,707	-2,880	8,395	-2,339	9,453	-3,117	-415	5,028	4,694	-790	-2,465	7,534	-655	6,477	-7,812
Operating lease obligations
-7,943	-2,608	-7,731	-7,627	-12,552	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred rent
-	-	-	-	-	-556	-766	-770	-509	-440	-435	-574	-614	-572	-755	-818	-652	-506	-744	-825	-872	-795	-638	-491	-608	-672	-894	-1,150	-910	-6,159	1,390	753	590	-3,985	539	1,744	-544
Deferred lease incentives
-	-	-	-	-	-652	-256	973	1,356	-1,108	-1,590	1,887	-465	-378	948	-251	-37	-743	157	1,841	1,498	2,928	-923	-1,269	-984	1,261	2,038	-811	1,043	897	-580	435	2,883	-	-	-	-
Deferred landlord obligations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-884
Other liabilities
-1,510	652	158	186	2,792	-1,193	-269	-289	-347	-228	-156	16	344	-202	175	-792	132	-71	-449	-212	767	1,372	19	65	226	135	269	-30	328	-1,125	1,329	44	452	-193	-13	335	190
Landlord contribution for tenant improvements, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,854	1,394	-2,844	-	-1,296	-1,523	-355
Net cash provided by operating activities
1,208	38,332	13,280	42,331	22,056	37,929	22,895	46,339	25,754	37,982	17,434	30,194	21,426	29,728	37,687	24,127	46,817	27,592	43,160	25,643	30,829	25,604	25,052	20,003	29,381	10,841	26,614	20,964	37,125	8,999	32,967	24,838	21,527	19,976	17,922	35,301	7,750
Cash flows from investing activities:
Purchases of property and equipment
16,275	16,631	26,769	21,083	17,674	18,584	13,628	14,688	14,064	13,378	12,188	18,916	26,254	28,681	30,731	24,618	25,333	22,982	24,185	23,153	15,750	20,521	19,418	23,537	24,648	23,939	32,699	30,162	30,260	23,410	29,680	38,065	18,027	24,792	27,975	26,150	15,237
Proceeds from sale of assets
4	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	8,121	90	4,932	3,852	0	3,957	14	-	-	-	-	-	-	-	-
Net cash used in investing activities
-16,271	-12,592	-26,769	-21,083	-17,674	-18,584	-8,127	-14,688	-14,064	-212	-7,449	-18,916	-26,254	-24,170	-30,731	-24,618	-25,333	-22,982	-20,707	-23,153	-15,750	-20,521	-5,086	-19,405	-20,178	-4,160	-27,448	-29,667	-28,580	-14,499	-24,865	-40,233	-19,247	-15,145	-36,762	-33,695	-12,662
Cash flows from financing activities:
Proceeds from marketable securities sold
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	6,211	9,901	2,838	18,363	8,061	6,926	8,054	6,683	8,754	12,199	9,730	19,956	7,566	7,412	6,540
Purchases of marketable securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	5,859	3,300	5,731	2,810	10,306	6,498	1,541	4,080	14,394	10,977	13,247	16,379	14,983	3,990
Collection of notes receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-82	110	29	141	27	27	27	26	26	25
Borrowings on line of credit
327,300	238,500	288,500	256,000	260,500	227,000	277,500	185,000	485,500	540,500	544,500	531,700	528,400	430,100	279,700	270,000	200,000	189,000	170,200	140,100	30,100	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments on line of credit
238,500	253,500	230,500	258,000	253,500	227,000	292,500	233,500	490,500	571,000	523,000	541,900	493,700	391,400	261,400	274,500	205,000	156,000	177,400	104,000	49,500	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefit from stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	44	22	222	45	242	1,326	297	2,355	341	2,266	29	1,167	437	227	216	328	841	11	315	414	2,205	24	-216	1,529
Taxes paid on vested stock units under employee plans
705	1	11	-1	1,003	-1	19	0	365	74	11	2	235	115	12	0	196	97	43	20	133	131	0	0	314	241	65	9	212	218	38	0	15	-	-	-	-
Proceeds from exercise of stock options
-	117	238	197	514	458	8,839	10,943	5,900	353	-33	903	159	236	598	749	543	487	3,374	399	4,151	3,562	5,907	193	1,818	822	139	439	151	567	357	299	663	707	127	2,137	2,126
Cash dividends paid
103	2,505	2,452	2,496	2,550	2,572	2,319	2,311	2,289	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repurchases of common stock
15,014	10,330	41,289	19,247	11,894	13,640	0	1,125	5,566	9,639	25,422	2,866	28,995	47,610	22,846	0	24,530	30,210	18,794	39,771	6,774	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by (used in) financing activities
72,978	-27,719	14,486	-23,545	-7,933	-15,753	-8,499	-40,993	-7,320	-42,129	-3,966	-12,165	5,629	-8,745	-3,938	-3,529	-29,138	3,422	-21,337	-2,995	-19,801	1,201	-21,460	-9,574	2,671	1,018	301	646	267	1,190	330	3,458	-1,782	5,635	-1,145	398	3,300
Net increase (decrease) in cash and cash equivalents
57,915	-1,979	997	-2,297	-3,551	3,592	6,269	-9,342	4,370	-4,359	6,019	-887	801	-3,187	3,018	-4,020	-7,654	8,032	1,116	-505	-4,722	6,284	-1,494	-8,976	11,874	7,699	-533	-8,057	8,812	-4,310	8,432	-11,937	498	10,466	-19,985	2,004	-1,612
Supplemental disclosure of cash flow information:
Cash paid for income taxes
998	77	1,008	2,883	1,184	1,141	1,730	4,024	2,702	254	298	2,327	2,284	17	1,356	3,324	2,106	1,000	1,742	3,019	6,336	-621	1,138	2,407	2,012	795	803	2,390	1,423	189	1,101	890	383	937	0	1,661	25
Cash paid for interest, net of capitalized interest
1,233	1,239	873	854	1,026	759	935	1,317	1,147	1,277	1,132	1,110	726	447	249	330	325	142	-39	225	175	-	-	-	-	-	-	-	-	-	-	-	0	-	0	0	0
Cash paid for operating lease obligations
14,635	-	-	-	19,229	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Supplemental disclosure of non-cash operating, investing and financing activities:
Operating lease assets obtained in exchange for operating lease obligations
6,208	16,377	3,776	4,093	9,800	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Property and equipment acquired and included in accounts payable
6,875	80	-482	-3,611	11,089	5,712	777	-1,725	5,596	-3,071	1,746	-2,651	7,852	-6,317	407	2,456	11,939	-5,047	-1,491	6,029	11,424	1,466	2,898	-1,067	6,997	7,989	61	-1,359	1,535	8,776	-305	801	705	-	-	-	-
Stock-based compensation capitalized
29	77	63	76	78	84	82	69	93	80	75	77	66	-46	64	84	78	79	80	66	60	58	59	53	43	15	95	53	52	47	49	47	52	50	46	46	45