Bojangles' (BOJA) annual cash flow statement covering fiscal 2013 through 2017, as reported to the SEC.
Net cash provided by operating activities has grown 7% a year on average since fiscal 2013, from $37.93M to $49.74M.
A cash flow statement shows the cash that actually came in and went out, split between running the business, investing and financing.
| Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||||||||||||||||
Net income | ||||||||||||||||||||
72,006 | 37,716 | 26,526 | 26,120 | 24,327 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net income | 72,006 | 37,716 | 26,526 | 26,120 | 24,327 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||||||||||
Deferred income tax benefit | ||||||||||||||||||||
-40,247 | -2,177 | -1,992 | -980 | -2,912 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deferred income tax benefit | -40,247 | -2,177 | -1,992 | -980 | -2,912 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Depreciation and amortization | ||||||||||||||||||||
16,550 | 15,626 | 14,265 | 12,085 | 11,188 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Depreciation and amortization | 16,550 | 15,626 | 14,265 | 12,085 | 11,188 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Amortization of deferred debt issuance costs | ||||||||||||||||||||
614 | 763 | 821 | 733 | 681 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Amortization of deferred debt issuance costs | 614 | 763 | 821 | 733 | 681 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Impairment | ||||||||||||||||||||
2,041 | 1,927 | 1,210 | 484 | 653 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Impairment | 2,041 | 1,927 | 1,210 | 484 | 653 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Gain on disposal of property and equipment and other | ||||||||||||||||||||
305 | -47 | -336 | -60 | 579 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Gain on disposal of property and equipment and other | 305 | -47 | -336 | -60 | 579 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Provision for doubtful accounts | ||||||||||||||||||||
156 | -72 | 239 | 78 | 80 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Provision for doubtful accounts | 156 | -72 | 239 | 78 | 80 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Benefit for inventory spoilage | ||||||||||||||||||||
15 | 20 | 23 | 9 | 29 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Benefit for inventory spoilage | 15 | 20 | 23 | 9 | 29 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
(Benefit) provision for closed stores | ||||||||||||||||||||
- | -51 | 36 | 102 | -50 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
(Benefit) provision for closed stores | - | -51 | 36 | 102 | -50 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Stock-based compensation | ||||||||||||||||||||
1,745 | 1,827 | 1,963 | 1,420 | 838 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Stock-based compensation | 1,745 | 1,827 | 1,963 | 1,420 | 838 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Excess tax benefit from stock-based compensation | ||||||||||||||||||||
- | 2,686 | 680 | 49 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Excess tax benefit from stock-based compensation | - | 2,686 | 680 | 49 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accounts and vendor receivables | ||||||||||||||||||||
765 | 595 | 357 | 2,264 | 206 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accounts and vendor receivables | 765 | 595 | 357 | 2,264 | 206 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Inventories | ||||||||||||||||||||
308 | 267 | 360 | 421 | 590 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Inventories | 308 | 267 | 360 | 421 | 590 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other assets | ||||||||||||||||||||
-1,063 | 354 | -662 | 698 | -374 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other assets | -1,063 | 354 | -662 | 698 | -374 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Income taxes | ||||||||||||||||||||
-87 | 4,069 | -1,352 | -939 | 724 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Income taxes | -87 | 4,069 | -1,352 | -939 | 724 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Investments for nonqualified deferred compensation plan | ||||||||||||||||||||
- | - | - | 371 | 444 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Investments for nonqualified deferred compensation plan | - | - | - | 371 | 444 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accounts payable and accrued expenses | ||||||||||||||||||||
-4,005 | -2,497 | 2,860 | 6,624 | 2,956 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accounts payable and accrued expenses | -4,005 | -2,497 | 2,860 | 6,624 | 2,956 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Closed store obligation and deferred rents | ||||||||||||||||||||
1,553 | 1,426 | 1,499 | 1,295 | 1,072 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Closed store obligation and deferred rents | 1,553 | 1,426 | 1,499 | 1,295 | 1,072 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Vendor advance | ||||||||||||||||||||
- | - | - | -1,678 | -357 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Vendor advance | - | - | - | -1,678 | -357 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deferred revenue | ||||||||||||||||||||
40 | -152 | 120 | -47 | -5 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deferred revenue | 40 | -152 | 120 | -47 | -5 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deferred compensation | ||||||||||||||||||||
-605 | 484 | 425 | 371 | 444 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deferred compensation | -605 | 484 | 425 | 371 | 444 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other noncurrent liabilities | ||||||||||||||||||||
-321 | -270 | -293 | -291 | -293 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other noncurrent liabilities | -321 | -270 | -293 | -291 | -293 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Cash flows from investing activities: | ||||||||||||||||||||
Net cash provided by operating activities | ||||||||||||||||||||
49,745 | 54,300 | 45,526 | 41,643 | 37,930 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash provided by operating activities | 49,745 | 54,300 | 45,526 | 41,643 | 37,930 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Purchases of franchisee's assets | ||||||||||||||||||||
- | 100 | 186 | 3,187 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Purchases of franchisee's assets | - | 100 | 186 | 3,187 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Purchases of property and equipment | ||||||||||||||||||||
9,616 | 9,695 | 12,047 | 7,495 | 9,431 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Purchases of property and equipment | 9,616 | 9,695 | 12,047 | 7,495 | 9,431 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from disposition of property and equipment | ||||||||||||||||||||
163 | 51 | 47 | 13 | 812 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from disposition of property and equipment | 163 | 51 | 47 | 13 | 812 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Cash flows from financing activities: | ||||||||||||||||||||
Net cash used in investing activities | ||||||||||||||||||||
-9,453 | -9,744 | -12,186 | -10,669 | -8,619 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash used in investing activities | -9,453 | -9,744 | -12,186 | -10,669 | -8,619 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from borrowings on long-term debt | ||||||||||||||||||||
- | - | - | 50,000 | 50,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from borrowings on long-term debt | - | - | - | 50,000 | 50,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Principal payments on long-term debt | ||||||||||||||||||||
32,357 | 42,736 | 28,055 | 21,376 | 25,375 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Principal payments on long-term debt | 32,357 | 42,736 | 28,055 | 21,376 | 25,375 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Debt issuance costs | ||||||||||||||||||||
643 | - | 554 | 720 | 620 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Debt issuance costs | 643 | - | 554 | 720 | 620 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Distribution to stockholders | ||||||||||||||||||||
- | - | - | 50,000 | 50,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Distribution to stockholders | - | - | - | 50,000 | 50,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Stock option settlement | ||||||||||||||||||||
- | - | - | 172 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Stock option settlement | - | - | - | 172 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Stock option exercises | ||||||||||||||||||||
2,456 | 1,210 | 330 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Stock option exercises | 2,456 | 1,210 | 330 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Vesting of restricted stock units | ||||||||||||||||||||
103 | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Vesting of restricted stock units | 103 | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Excess tax benefit from stock-based compensation | ||||||||||||||||||||
- | 2,686 | 680 | 49 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Excess tax benefit from stock-based compensation | - | 2,686 | 680 | 49 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Purchases of treasury stock | ||||||||||||||||||||
2,000 | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Purchases of treasury stock | 2,000 | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Principal payments on capital lease obligations | ||||||||||||||||||||
7,491 | 6,081 | 4,679 | 4,010 | 3,466 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Principal payments on capital lease obligations | 7,491 | 6,081 | 4,679 | 4,010 | 3,466 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net cash used in financing activities | ||||||||||||||||||||
-40,138 | -44,921 | -32,278 | -26,229 | -29,461 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash used in financing activities | -40,138 | -44,921 | -32,278 | -26,229 | -29,461 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net increase in cash and cash equivalents | ||||||||||||||||||||
154 | -365 | 1,062 | 4,745 | -150 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net increase in cash and cash equivalents | 154 | -365 | 1,062 | 4,745 | -150 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Supplemental cash flow disclosures: | ||||||||||||||||||||
Non-cash conversion of preferred stock into common stock | ||||||||||||||||||||
- | - | 172,691 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Non-cash conversion of preferred stock into common stock | - | - | 172,691 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Cash paid for interest | ||||||||||||||||||||
6,776 | 7,589 | 8,395 | 8,972 | 8,475 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Cash paid for interest | 6,776 | 7,589 | 8,395 | 8,972 | 8,475 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Cash paid for income taxes | ||||||||||||||||||||
14,209 | 17,645 | 19,378 | 17,508 | 12,104 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Cash paid for income taxes | 14,209 | 17,645 | 19,378 | 17,508 | 12,104 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Assets acquired under capital leases | ||||||||||||||||||||
8,939 | 8,977 | 7,815 | 6,452 | 5,606 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Assets acquired under capital leases | 8,939 | 8,977 | 7,815 | 6,452 | 5,606 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Reduction of capital lease obligations upon return of assets | ||||||||||||||||||||
223 | 206 | 148 | 120 | 124 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Reduction of capital lease obligations upon return of assets | 223 | 206 | 148 | 120 | 124 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Reduction of capital lease obligations upon early termination of lease | ||||||||||||||||||||
- | 288 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Reduction of capital lease obligations upon early termination of lease | - | 288 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||