Burlington stores, inc. (BURL)
CashFlow / Quarterly
Feb'20Nov'19Aug'19May'19Feb'19Nov'18Aug'18May'18Feb'18Oct'17Jul'17Apr'17Jan'17Oct'16Jul'16Apr'16Jan'16Oct'15Jul'15Apr'15Jan'15Oct'14Jul'14Apr'14Jan'14Oct'13Jul'13Apr'13
OPERATING ACTIVITIES
Net income

206,325

96,459

84,567

77,765

184,351

76,850

70,956

82,588

240,703

44,879

46,902

52,368

125,561

32,404

20,394

37,514

98,773

15,114

10,900

25,695

94,865

-34,214

-6,470

11,774

63,584

-16,857

-25,014

-5,563

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

55,089

52,729

52,261

50,641

56,683

53,769

56,923

50,509

53,556

50,835

48,700

48,012

46,956

46,472

44,613

45,545

45,012

43,186

41,746

42,155

43,239

42,584

40,549

41,208

41,885

41,071

41,247

43,992

Impairment charges - long-lived assets

-

-

-

-

-

-

-

-

-

-

-

-

2,341

0

0

109

4,208

0

188

1,715

1,726

5

829

19

2,798

243

88

51

Amortization of deferred financing costs

302

304

311

330

334

333

430

499

566

634

633

630

627

626

714

712

712

704

718

734

754

919

2,155

2,229

2,322

2,667

2,542

2,043

Accretion of long term debt instruments

-203

-204

-203

-203

-203

-168

-182

-201

-232

-272

-272

-272

-272

-272

-199

-199

-200

-199

-199

-211

-221

-258

-529

-571

-616

-816

-771

-795

Interest Rate Cap Contracts-Adjustment to Market

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-12

5

-60

Provision for Losses on Accounts Receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

28

69

34

Deferred income taxes

10,554

333

-4,810

2,993

862

223

-287

1,721

-43,102

2,010

5,765

4,600

-8,810

10,494

-4,070

-533

27,910

-14,261

-3,605

-4,135

-1,176

-15,491

-6,175

-8,098

-6,143

721

-7,175

-5,376

Non-cash loss on extinguishment of debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-649

55,738

-25,166

0

-2,521

-

-

-

-

Loss on Disposition of Fixed Assets and Leasehold Improvements

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-337

18

39

Non-cash stock compensation expense

13,386

9,568

11,547

9,427

9,270

9,466

9,726

7,023

7,379

7,168

7,404

5,083

4,319

4,258

4,093

3,283

2,924

2,979

3,139

2,119

1,648

1,464

1,785

1,367

2,001

2,517

5,175

510

Non-cash lease expense

1,694

3,587

3,261

4,057

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash rent

-

-

-

-

7,891

5,014

6,460

6,203

6,749

4,273

6,918

6,749

5,858

6,340

8,381

7,331

-

-

-

5,586

5,644

3,697

4,583

5,539

17,918

-13,189

9,615

-3,285

Cash received from landlord allowances

20,274

12,579

11,214

12,213

17,231

19,135

5,768

8,709

15,277

23,282

5,251

5,024

14,328

8,203

7,205

2,476

23,305

1,545

5,635

11,301

16,745

7,866

5,078

8,729

-

-

10,693

7,386

Excess tax benefit from stock based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,825

2,236

6,150

6,317

5,121

619

3,404

-

-

-

64

Insurance recoveries

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,561

-830

Changes in assets and liabilities:
Accounts receivable

-18,625

4,687

2,584

20,170

-17,774

7,795

-3,880

10,377

-5,911

14,783

803

10,308

-10,182

8,637

-8,253

13,287

-8,693

9,332

-3,917

2,015

-11,351

11,701

-2,172

10,438

-8,947

1,740

-1,704

7,338

Merchandise inventories

-227,139

180,599

-72,026

-57,864

-102,412

212,670

57,366

33,997

-151,101

176,678

1,448

23,646

-120,566

77,781

-59,429

21,166

-150,483

131,670

-19,972

33,605

-111,170

188,369

3,884

-12,425

-182,374

154,118

21,089

47,029

Prepaid and other current assets

-9,469

1,338

15,701

6,028

-21,717

1,804

15,815

11,559

24,342

-10,188

23,488

5,213

-24,262

17,155

11,990

8,384

-6,554

-34,538

16,054

31,492

-67,918

15,561

24,179

632

-14,274

7,477

7,923

7,835

Accounts payable

-126,913

194,689

-17,908

-140,767

-120,302

206,145

37,896

-12,716

-28,064

160,514

-3,016

-32,431

-46,547

141,328

-50,279

-2,959

-105,988

113,689

-41,292

10,108

-144,828

201,979

-11,381

32,925

-165,412

152,806

-75,067

130,254

Other current liabilities

-27,210

68,601

-18,704

2,515

-25,537

66,654

-9,306

-18,111

10,155

41,288

-37,738

-11,196

27,309

51,380

3,134

-7,004

-31,736

51,658

2,786

-33,350

19,937

31,097

11,031

-43,107

21,535

6,732

37,531

-14,702

Other long term assets and long term liabilities

186

-1,533

1,251

-3,080

262

-1,121

-7,183

-738

2,690

-1,686

1,646

-541

-1,528

-1,747

-971

-1,469

-599

-2,739

-1,425

913

-1,270

564

-1,110

-736

-3,425

511

416

-979

Other operating activities

1,786

-6,512

800

68

611

2,003

1,026

1,185

1,801

2,297

2,735

1,597

660

1,302

-1,890

2,804

632

314

310

701

588

305

114

232

-

-

-

-

Net cash provided by operating activities

414,852

247,450

175,232

54,191

264,300

209,046

106,097

60,210

385,754

149,319

43,593

28,584

317,696

188,573

76,200

33,447

235,703

104,405

21,152

-21,858

213,831

36,925

8,061

43,518

206,070

25,419

-37,841

95,703

INVESTING ACTIVITIES
Cash paid for property and equipment

68,658

96,219

79,699

83,781

73,271

100,535

61,584

60,382

75,703

84,691

54,887

52,913

49,864

61,694

45,524

30,425

48,067

71,785

38,847

43,088

56,455

69,956

48,584

45,985

46,020

54,248

38,235

29,764

Net (removal costs) proceeds from sale of property and equipment and assets held for sale

-

-

-

40

-

-

-

-5,441

-

-

-

-

-

-

-

-

-

-

-

-108

-13

-25

-28

-108

-592

212

-279

-114

Other investing activities

-1,132

477

12

32

6,152

26

-6,179

3,001

981

110

-960

-140

236

99

-120

-83

-

-

-

-

-

-

-

-

-

-

-

-

Net cash (used in) investing activities

-68,550

-92,065

-80,130

-83,853

-73,218

-100,106

-67,242

-57,942

-73,776

-81,732

-53,927

-52,773

-42,812

-61,793

-45,404

-30,342

-45,225

-67,708

-38,819

-42,980

-52,142

-69,931

-48,556

-45,877

188,031

-285,219

-37,956

-29,650

FINANCING ACTIVITIES
Proceeds from long term debtHoldco Notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

343,000

Principal payments on long term debtHoldco Notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

70,223

0

58,000

-

-

-

-

Proceeds from sale of interest rate cap contracts

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

1,169

-

-

-

-

-

-

-

-

Purchase of treasury shares

87,057

42,858

62,846

130,319

61,905

49,742

46,973

70,254

54,859

70,680

113,702

50,536

50,590

75,626

26,138

50,017

77,539

98,349

25,451

331

847

0

0

3,086

-

-

-

-

Payment of dividends

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

324

-324

336,000

Repayment of capital lease obligations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

251

246

240

-

231

200

253

Proceeds from stock option exercises

5,221

13,785

13,395

1,821

1,847

2,995

7,966

3,498

1,477

1,948

4,151

1,597

565

1,412

1,580

927

174

434

589

903

929

656

187

742

-4

283

2,184

64

Excess tax benefit from stock based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,825

2,236

6,150

6,317

5,121

619

3,404

-

-

-

-

Deferred financing costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

8,598

13,528

Other financing activities

-1,906

-1,405

-375

917

3,312

-1,116

-1,756

-715

-1,416

-1,223

-1,255

-2,081

-1,106

-1,236

-2,177

-1,630

-697

-1,491

-924

-354

-

-

-

-

-

-

-

-

Net cash (used in) financing activities

-83,742

-127,378

-102,926

22,419

-164,185

-113,148

-32,278

-58,464

-226,772

-52,155

13,394

-27,820

-226,086

-124,450

-28,427

4,080

-198,410

-35,081

10,150

74,237

-165,777

33,152

296

-61,135

-292,674

257,950

6,532

-6,717

Increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents

262,560

28,007

-7,824

-7,243

26,897

-4,208

6,577

-56,196

85,206

15,432

3,060

-52,009

48,798

2,330

2,369

7,185

-7,932

1,616

-7,517

9,399

-4,088

146

-40,199

-63,494

101,427

-1,850

-69,265

59,336

Supplemental disclosure of cash flow information:
Interest paid

10,248

11,362

12,918

12,543

10,622

14,171

13,142

14,238

12,871

13,796

11,525

10,900

10,967

10,844

15,821

13,958

13,877

13,477

16,137

13,885

16,198

34,321

10,013

39,515

14,920

48,560

12,256

35,797

Income tax payments - net

21,029

18,931

69,449

1,179

14,281

7,781

53,245

343

839

12,094

96,276

372

6,414

11,922

45,375

5,251

30,412

241

35,524

18,499

1,693

-507

37,984

35,193

740

397

482

1,150

Accrued purchases of property and equipment

-536

15,596

1,052

46,702

-5,962

10,061

7,769

35,390

-3,187

1,160

15,289

18,017

-1,925

-5,290

13,019

18,316

-9,239

-1,408

16,093

12,571

-4,987

1,783

10,319

14,763

-244

-13

11,434

10,427

Acquisition of finance leases

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-651

1,538

ABL senior secured revolving facility
Proceeds from long term debt

0

240,900

465,200

588,300

130,100

396,000

455,300

238,800

91,200

443,400

412,600

268,300

-

-

-

-

-

-

-

436,100

-

453,300

160,000

115,000

100,000

367,800

184,000

155,000

Principal payments on long term debt

0

337,800

518,300

438,300

235,100

461,300

296,800

227,000

256,400

425,600

288,400

245,100

-

-

-

-

-

-

-

319,400

-

248,100

160,000

115,000

138,000

344,800

169,000

155,000

Senior Secured Term B-5 Loans
Principal payments on long term debt

-

-

-

-

0

-15

150,015

2,793

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-