BJ’S RESTAURANTS, INC. BJRI Cash Flow

Bj’s restaurants, inc. (BJRI)

CashFlow / TTM

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
28,107	45,238	41,412	46,257	49,010	50,810	63,611	57,484	50,178	44,780	34,181	39,029	43,179	45,557	43,578	48,705	47,354	45,325	42,670	36,788	32,354	27,397	19,648	16,814	17,407	21,022	27,506	30,697	31,067	31,409	34,292	33,789	32,990	31,570	0	0	0
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization
72,709	72,006	71,323	70,846	70,627	70,439	70,194	69,938	69,370	68,665	67,576	66,438	65,426	64,275	63,339	62,140	60,654	59,417	58,140	57,028	56,296	55,387	54,388	52,872	50,990	49,007	47,073	45,170	43,290	41,347	39,376	37,458	35,654	34,075	0	0	0
Non-cash lease expense
28,310	27,726	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income taxes
-9,328	-2,773	-1,970	-1,266	-666	-2,812	-20,596	-21,213	-20,590	-16,486	2,442	4,321	6,796	7,073	5,943	7,406	7,045	5,319	4,961	3,877	2,985	4,416	-614	-3,873	-3,920	-3,448	2,609	6,480	7,004	6,764	6,182	6,686	6,424	6,069	0	0	0
Stock-based compensation expense
8,377	8,918	8,537	8,554	8,057	8,256	7,933	7,497	7,593	6,946	6,218	5,951	5,613	5,527	6,035	5,973	5,686	5,395	5,010	4,721	4,872	4,855	4,872	4,697	4,493	4,418	4,675	4,854	4,677	4,585	4,544	4,653	4,709	4,678	0	0	0
Loss on disposal and impairment of assets
-5,122	-3,862	-4,617	-4,551	-4,632	-4,048	-3,656	-3,861	-5,149	-4,775	-4,873	-4,613	-2,909	-2,971	-3,461	-3,340	-3,274	-2,908	-2,552	-2,146	-1,924	-1,963	-4,355	-4,151	-4,201	-3,879	-754	-675	-603	-557	-565	-822	-708	-1,039	0	0	0
Changes in assets and liabilities:
Accounts and other receivables
-5,692	-12,146	-645	1,243	2,042	15,815	2,010	-9,099	-274	210	381	8,997	-1,682	-9,904	-9,950	-7,750	-6,320	994	1,645	3,112	1,914	5,393	4,332	1,737	1,591	-6,846	2,310	1,410	993	8,032	-1,116	255	283	194	0	0	0
Landlord contribution for tenant improvements
-	-	-	-	-	752	-61	336	609	-1,565	-327	1,923	1,290	-762	-2,334	-5,702	-4,214	-426	3,918	6,266	3,226	627	-1,556	-416	-264	611	0	0	0	-	-	-	-	-	-	-	-
Inventories, net
-161	969	346	442	518	-381	-100	-194	-32	607	713	848	966	1,014	877	1,472	1,403	883	987	444	688	577	732	682	643	1,372	851	900	1,044	98	1,716	-145	778	1,640	0	0	0
Prepaid expenses and other current assets
2,139	1,393	-4,571	-3,431	-4,761	-3,060	1,726	1,544	1,677	718	6,353	4,271	5,653	5,065	-73	-1,118	-1,144	-1,477	-1,517	1,636	1,075	1,662	-664	-24	588	409	1,365	1,025	1,097	717	2,586	4,511	3,651	4,421	0	0	0
Other assets, net
3,047	7,823	6,495	6,289	4,851	1,688	2,491	2,685	3,608	4,022	5,037	5,784	5,549	5,257	4,216	3,095	2,252	3,282	3,148	3,546	4,129	2,706	3,278	3,137	2,723	2,800	2,441	2,614	2,823	3,306	3,319	2,763	2,138	1,731	0	0	0
Accounts payable
-181	-9,799	4,959	11,220	3,269	4,746	-660	-6,920	-5,905	-1,261	-1,074	3,880	2,119	542	133	-1,601	971	-1,983	-892	-1,403	-443	842	-1,072	259	2,090	7,571	542	2,695	7,441	-51	5,572	-205	3,374	1,441	0	0	0
Accrued expenses
-12,209	-4,410	-6,821	-8,240	-2,186	10,320	12,581	11,175	9,175	2,652	-5,122	11,786	-3,436	10,692	4,378	7,974	9,770	11,274	12,748	8,555	7,279	12,179	8,883	12,629	12,392	3,582	10,949	6,190	8,517	6,467	8,973	3,624	10,891	5,544	0	0	0
Operating lease obligations
-25,909	-30,518	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred rent
-	-	-	-	-	-2,601	-2,485	-2,154	-1,958	-2,063	-2,195	-2,515	-2,759	-2,797	-2,731	-2,720	-2,727	-2,947	-3,236	-3,130	-2,796	-2,532	-2,409	-2,665	-3,324	-3,626	-9,113	-6,829	-4,926	-3,426	-1,252	-2,103	-1,112	-2,246	0	0	0
Deferred lease incentives
-	-	-	-	-	1,421	965	-369	545	-1,276	-546	1,992	-146	282	-83	-874	1,218	2,753	6,424	5,344	2,234	-248	-1,915	1,046	1,504	3,531	3,167	549	1,795	3,635	0	0	0	-	-	-	-
Deferred landlord obligations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Other liabilities
-514	3,788	1,943	1,516	1,041	-2,098	-1,133	-1,020	-715	-24	2	333	-475	-687	-556	-1,180	-600	35	1,478	1,946	2,223	1,682	445	695	600	702	-558	502	576	700	1,632	290	581	319	0	0	0
Landlord contribution for tenant improvements, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0
Net cash provided by operating activities
95,151	115,999	115,596	125,211	129,219	132,917	132,970	127,509	111,364	107,036	98,782	119,035	112,968	138,359	136,223	141,696	143,212	127,224	125,236	107,128	101,488	100,040	85,277	86,839	87,800	95,544	93,702	100,055	103,929	88,331	99,308	84,263	94,726	80,949	0	0	0
Cash flows from investing activities:
Purchases of property and equipment
80,758	82,157	84,110	70,969	64,574	60,964	55,758	54,318	58,546	70,736	86,039	104,582	110,284	109,363	103,664	97,118	95,653	86,070	83,609	78,842	79,226	88,124	91,542	104,823	111,448	117,060	116,531	113,512	121,415	109,182	110,564	108,859	96,944	94,154	0	0	0
Proceeds from sale of assets
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	13,143	16,995	8,874	12,741	7,823	0	0	0	-	-	-	-	-	-	-	-
Net cash used in investing activities
-76,715	-78,118	-84,110	-65,468	-59,073	-55,463	-37,091	-36,413	-40,641	-52,831	-76,789	-100,071	-105,773	-104,852	-103,664	-93,640	-92,175	-82,592	-80,131	-64,510	-60,762	-65,190	-48,829	-71,191	-81,453	-89,855	-100,194	-97,611	-108,177	-98,844	-99,490	-111,387	-104,849	-98,264	0	0	0
Cash flows from financing activities:
Proceeds from marketable securities sold
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	18,950	37,313	39,163	36,188	41,404	29,724	30,417	35,690	37,366	50,639	49,451	44,664	41,474	0	0	0
Purchases of marketable securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	9,159	14,890	17,700	22,147	25,345	21,155	22,425	26,513	30,992	42,698	54,997	55,586	48,599	0	0	0
Collection of notes receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	28	57	198	307	224	222	107	106	104	0	0	0
Borrowings on line of credit
1,110,300	1,043,500	1,032,000	1,021,000	950,000	1,175,000	1,488,500	1,755,500	2,102,200	2,145,100	2,034,700	1,769,900	1,508,200	1,179,800	938,700	829,200	699,300	529,400	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments on line of credit
980,500	995,500	969,000	1,031,000	1,006,500	1,243,500	1,587,500	1,818,000	2,126,400	2,129,600	1,950,000	1,688,400	1,421,000	1,132,300	896,900	812,900	642,400	486,900	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefit from stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	333	531	1,835	1,910	4,220	4,319	5,259	4,991	3,803	3,899	1,860	2,047	1,208	1,612	1,396	1,495	1,581	2,945	2,958	2,427	3,542	0	0	0
Taxes paid on vested stock units under employee plans
716	1,014	1,012	1,020	1,021	383	458	450	452	322	363	364	362	323	305	336	356	293	327	284	264	445	555	620	629	527	504	477	468	271	0	0	0	-	-	-	-
Proceeds from exercise of stock options
-	1,066	1,407	10,008	20,754	26,140	26,035	17,163	7,123	1,382	1,265	1,896	1,742	2,126	2,377	5,153	4,803	8,411	11,486	14,019	13,813	11,480	8,740	2,972	3,218	1,551	1,296	1,514	1,374	1,886	2,026	1,796	3,634	5,097	0	0	0
Cash dividends paid
7,556	10,003	10,070	9,937	9,752	9,491	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repurchases of common stock
85,880	82,760	86,070	44,781	26,659	20,331	16,330	41,752	43,493	66,922	104,893	102,317	99,451	94,986	77,586	73,534	113,305	95,549	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by (used in) financing activities
36,200	-44,711	-32,745	-55,730	-73,178	-72,565	-98,941	-94,408	-65,580	-52,631	-19,247	-19,219	-10,583	-45,350	-33,183	-50,582	-50,048	-40,711	-42,932	-43,055	-49,634	-27,162	-27,345	-5,584	4,636	2,232	2,404	2,433	5,245	3,196	7,641	6,166	3,106	8,188	0	0	0
Net increase (decrease) in cash and cash equivalents
54,636	-6,830	-1,259	4,013	-3,032	4,889	-3,062	-3,312	5,143	1,574	2,746	-255	-3,388	-11,843	-624	-2,526	989	3,921	2,173	-437	-8,908	7,688	9,103	10,064	10,983	7,921	-4,088	4,877	997	-7,317	7,459	-20,958	-7,017	-9,127	0	0	0
Supplemental disclosure of cash flow information:
Cash paid for income taxes
4,966	5,152	6,216	6,938	8,079	9,597	8,710	7,278	5,581	5,163	4,926	5,984	6,981	6,803	7,786	8,172	7,867	12,097	10,476	9,872	9,260	4,936	6,352	6,017	6,000	5,411	4,805	5,103	3,603	2,563	3,311	2,210	2,981	2,623	0	0	0
Cash paid for interest, net of capitalized interest
4,199	3,992	3,512	3,574	4,037	4,158	4,676	4,873	4,666	4,245	3,415	2,532	1,752	1,351	1,046	758	653	503	0	0	0	-	-	-	-	-	-	-	-	-	-	-	0	-	0	0	0
Cash paid for operating lease obligations
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Supplemental disclosure of non-cash operating, investing and financing activities:
Operating lease assets obtained in exchange for operating lease obligations
30,454	34,046	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Property and equipment acquired and included in accounts payable
2,862	7,076	12,708	13,967	15,853	10,360	1,577	2,546	1,620	3,876	630	-709	4,398	8,485	9,755	7,857	11,430	10,915	17,428	21,817	14,721	10,294	16,817	13,980	13,688	8,226	9,013	8,647	10,807	9,977	0	0	0	-	-	-	-
Stock-based compensation capitalized
245	294	301	320	313	328	324	317	325	298	172	161	168	180	305	321	303	285	264	243	230	213	170	206	206	215	247	201	195	195	198	195	194	187	0	0	0