CREDIT ACCEPTANCE CORP CACC Cash Flow

Credit acceptance corp (CACC)

CashFlow / Quarterly

Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	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 income
161,900	165,400	164,400	164,400	151,900	151,000	151,000	120,100	177,100	100,700	99,100	93,300	87,600	85,900	84,900	74,400	80,000	74,000	74,200	71,500	73,000	74,000	69,400	49,800	65,900	65,100	61,500	60,600	59,900	52,900	56,600	50,300	50,005	49,960	44,844	43,191
Adjustments to reconcile cash provided by operating activities:
Provision for credit losses
27,200	19,300	15,400	14,500	17,700	14,000	1,800	23,400	61,300	25,700	21,800	20,500	27,400	22,800	17,900	22,100	13,700	13,200	8,400	6,200	-600	4,100	4,600	4,700	4,600	6,100	5,400	5,800	6,200	9,800	2,800	5,200	6,606	4,550	8,928	8,916
Depreciation
2,000	1,900	1,900	1,500	1,500	1,300	1,300	1,300	1,300	1,500	1,600	1,600	1,400	1,500	1,600	1,600	1,400	1,400	1,400	1,500	1,500	1,500	1,200	1,300	1,300	1,400	1,300	1,400	1,400	1,200	1,300	1,200	1,024	1,036	1,015	1,025
Amortization
3,800	4,000	3,700	3,600	4,100	3,700	3,400	2,900	2,900	2,400	2,600	2,500	2,400	2,400	2,200	2,200	2,100	2,300	1,900	2,200	2,000	2,000	2,000	1,700	2,300	1,900	1,800	1,800	2,000	1,800	1,700	1,600	1,554	1,573	1,310	1,463
Loss on retirement of property and equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-100	-100	-100	-100	0	-100	0	-	-	-	-	-	-	-	-	-	-15	-9	-4
Stock-based compensation
1,900	2,000	1,500	2,200	2,500	2,700	2,000	3,100	7,100	2,900	2,900	2,500	1,800	1,800	1,700	2,100	2,400	3,300	2,600	4,100	5,700	1,800	3,400	4,400	2,500	1,300	3,200	1,500	3,600	4,100	3,700	800	344	364	601	591
Provision for deferred income taxes
-119,700	4,200	10,500	19,500	-97,800	9,600	19,800	19,100	25,100	9,000	11,200	40,300	-56,200	15,500	13,200	3,300	-58,700	7,900	8,200	7,000	22,300	3,700	2,400	27,700	11,400	4,500	3,900	-11,000	13,100	900	5,100	5,900	6,537	8,092	6,048	-5,377
Loss on extinguishment of debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-21,800	-	-	-	-	-	-	-	-	-	-	-	-
Other Operating Activities, Cash Flow Statement
-	-	-	-100	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in operating assets and liabilities:
Increase in accounts payable and accrued liabilities
22,100	-15,700	13,500	-2,600	20,600	-1,700	3,600	19,100	13,100	5,900	1,400	-10,100	12,700	-3,500	8,900	-6,300	7,800	-6,000	3,300	7,900	3,000	1,300	-1,300	-2,400	3,900	-2,400	7,100	-600	7,700	-7,600	-1,600	11,500	4,749	-5,126	-882	21,959
Increase in income taxes receivable
55,400	-11,000	14,300	-400	-12,300	-5,400	23,100	300	-3,300	-2,900	5,200	900	-3,100	-4,600	-9,800	9,800	9,700	-10,400	9,700	-400	0	-200	-400	900	-100	400	200	-500	-	-	-	-100	3	-2,225	2,016	-11,294
Increase (decrease) in income taxes payable
0	0	-21,200	18,900	2,300	0	-55,400	15,700	39,700	0	-32,700	9,300	21,600	2,000	0	0	-2,300	2,300	-15,900	13,000	-8,600	8,800	-1,500	-15,700	14,200	5,100	-24,400	18,700	-3,700	4,100	-7,100	11,500	-	-	-	10,542
Increase in other assets
12,000	-15,200	4,600	-7,400	10,800	-5,200	1,800	-3,000	8,300	-2,600	3,700	-2,900	6,500	-1,900	3,400	-2,100	4,000	-1,900	2,400	-3,500	3,600	1,300	-100	-1,100	1,900	1,900	-100	-2,200	-1,000	800	-100	-1,000	-1,503	739	-4,573	7,537
Net cash provided by operating activities
204,300	207,400	170,900	229,700	202,900	191,000	102,600	207,400	151,400	153,600	99,100	161,900	143,700	135,000	136,800	91,700	103,900	110,800	72,100	117,400	94,800	96,100	80,800	93,500	104,300	80,700	59,800	80,900	90,100	66,900	62,500	89,100	73,343	62,398	53,888	86,071
Cash Flows From Investing Activities:
Increase (Decrease) in Restricted Cash
-	-	-	-	-	-	-	-	-	-	-	-	-65,400	-900	8,000	58,300	-8,600	-1,500	-21,400	41,300	-47,800	48,800	10,000	35,300	-4,900	-700	600	23,900	-75,300	39,300	-31,700	55,400	13,424	5,116	4,726	14,834
Purchases of restricted securities available for sale
7,300	8,000	9,400	15,400	8,200	7,200	14,700	13,700	6,500	6,400	7,700	13,900	10,800	9,600	6,100	12,600	7,500	6,500	8,500	11,600	7,800	10,500	31,900	15,200	30,300	25,500	28,100	21,800	-	-	-	-	-32	229	0	303
Proceeds from sale of restricted securities available for sale
4,200	7,800	7,700	9,400	2,400	4,300	6,300	6,700	4,800	6,300	7,500	9,200	10,400	6,500	7,900	11,100	8,400	7,400	7,100	11,500	5,300	1,600	6,900	2,100	2,000	2,400	3,200	4,000	-	-	-	-	-	-	-	-
Maturities of restricted securities available for sale
3,800	1,900	2,800	3,400	4,300	800	5,000	1,400	1,300	500	400	3,400	1,300	2,400	900	1,200	900	800	1,900	500	700	11,700	22,700	14,500	26,500	18,700	24,600	16,400	-	-	-	-	-54	74	75	305
Principal collected on Loans receivable
716,300	746,300	751,200	757,400	627,700	647,300	657,800	643,900	532,100	541,100	549,300	567,000	462,600	489,800	488,600	514,800	420,900	432,100	432,100	454,500	368,500	381,600	381,700	408,200	325,600	330,500	332,400	345,500	280,200	285,000	286,700	310,900	248,658	253,830	240,820	253,592
Advances to Dealers
523,400	573,300	608,800	719,000	544,600	556,700	604,300	709,200	501,100	474,000	456,300	536,900	404,900	475,700	438,000	562,700	423,600	427,900	410,100	533,500	367,800	342,900	339,400	421,300	308,600	335,300	334,100	378,600	284,900	293,300	301,000	374,400	263,898	278,395	946,615	-336,408
Purchases of Consumer Loans
293,800	321,100	346,400	386,400	264,000	274,300	300,300	342,400	218,100	216,600	215,500	254,600	164,800	218,600	189,400	181,400	105,100	92,600	81,600	92,600	61,500	48,800	42,900	51,100	33,800	33,900	28,400	27,900	22,800	25,300	25,900	34,800	27,988	30,717	30,769	32,726
Accelerated payments of Dealer Holdback
14,700	16,100	15,700	12,300	11,600	11,600	16,800	12,600	11,600	11,900	13,400	10,200	10,200	13,700	14,900	14,800	13,000	13,000	12,800	13,800	10,100	9,700	10,700	11,200	9,600	10,400	29,900	-9,500	77,800	-9,900	-11,300	-12,900	-10,125	-12,859	-12,371	-12,045
Payments of Dealer Holdback
33,100	34,800	36,000	34,600	30,900	31,900	32,900	33,200	30,800	32,100	33,500	35,200	32,300	33,900	35,900	39,900	34,900	36,600	37,500	41,100	34,000	33,700	33,300	34,500	27,900	27,800	28,500	30,000	26,000	27,100	29,400	33,200	26,466	23,985	19,175	15,574
Net (increase) decrease in other loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	100	0	-400	-	-	-	-	3	259	768	-230
Purchases of property and equipment
3,200	7,300	11,600	4,700	3,000	16,900	4,000	1,200	1,500	1,800	1,900	3,200	1,900	700	1,200	1,700	800	1,000	900	1,300	700	300	1,200	2,100	1,300	1,300	1,800	1,200	1,700	1,100	2,100	3,900	2,731	1,000	987	1,582
Net cash used in investing activities
-151,200	-204,600	-266,200	-402,200	-227,900	-246,200	-303,900	-460,300	-231,400	-194,900	-171,100	-274,400	-85,200	-252,600	-196,100	-344,300	-146,100	-135,800	-88,900	-268,700	-59,600	-99,800	-58,100	-145,900	-52,200	-81,800	-72,200	-127,400	-35,700	-110,100	-51,400	-203,700	-95,969	-98,062	-100,164	-159,805
Cash Flows From Financing Activities:
Borrowings under revolving secured line of credit
819,500	906,600	1,053,700	1,066,900	525,200	291,500	967,800	465,400	450,400	553,100	1,900,700	622,900	334,600	244,700	237,400	798,700	193,900	340,000	134,700	988,400	814,000	635,200	821,900	525,100	748,500	508,300	964,600	595,200	537,700	707,100	655,100	607,500	627,400	645,300	623,200	489,000
Repayments under revolving secured line of credit
871,700	892,800	1,015,300	1,238,800	353,300	291,500	990,800	456,300	567,000	422,600	2,034,800	488,800	419,800	159,500	273,700	820,100	136,200	364,800	109,900	1,107,900	703,300	732,600	831,600	512,000	733,300	571,500	929,700	522,800	610,000	604,400	815,600	477,800	682,900	673,100	628,800	492,900
Proceeds from secured financing
698,000	647,000	237,400	814,000	0	796,600	900,000	1,000,000	700,000	0	928,500	736,000	736,000	36,000	736,200	661,100	51,000	624,600	36,000	535,400	170,800	662,300	561,000	360,600	197,800	160,400	333,900	312,600	315,300	504,100	430,200	492,400	564,500	305,000	145,000	150,000
Repayments of secured financing
586,500	649,500	287,600	625,900	230,900	597,200	656,600	632,200	510,700	145,400	683,400	568,000	556,800	150,500	488,100	380,400	105,300	436,700	126,300	433,100	189,100	559,500	451,100	157,600	254,600	70,300	317,400	279,800	254,200	476,600	270,400	487,100	480,007	242,858	90,935	51,500
Proceeds from issuance of senior notes
400,000	0	0	400,000	0	0	0	0	-	-	-	-	-	-	-	-	0	0	0	248,200	0	0	0	300,000	-	-	-	-	-	-	-	-	0	0	0	106,000
Repayments of senior notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	350,000	-	-	-	-	-	-	-	-	-	-	-	-
Principal payments under mortgage note
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	100	100	0	100	125	59	58	58
Payments of debt issuance costs and debt issuance costs
9,600	5,200	1,800	8,900	700	3,700	5,400	3,900	5,500	600	5,700	2,800	2,700	800	4,800	700	0	2,900	1,900	6,200	500	4,100	3,000	22,800	1,800	600	2,500	400	500	2,300	1,900	1,800	1,551	1,685	2,136	3,028
Repurchase of common stock
191,200	0	0	109,200	127,100	0	0	2,000	0	0	17,700	105,800	80,900	0	0	40,800	85,400	0	0	1,100	125,000	0	115,100	103,600	8,000	31,300	36,200	59,700	39,500	84,500	8,500	20,000	4,125	0	0	126,675
Proceeds from stock options exercised
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	600	-	-	-	-	100	200	100	200	119	308	558	1,915
Tax benefits from stock-based compensation plans
-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	27,200	0	0	0	300	0	0	0	13,600	-100	500	700	200	100	300	300	1,300	373	702	552	1,773
Other financing activities
-200	-2,900	-1,800	4,300	-2,200	-2,900	0	-1,900	-1,900	-5,800	-2,300	7,500	-2,700	-4,900	1,500	10,400	-4,200	-1,800	-1,200	7,600	0	0	-3,700	-100	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by financing activities
110,100	3,200	-15,400	302,400	-189,000	204,800	215,000	369,100	65,300	-21,300	85,300	201,000	7,700	-35,000	208,500	255,400	-86,200	158,400	-68,600	231,600	-33,100	1,300	-21,600	53,800	-51,500	-4,300	13,600	45,300	-51,100	43,800	-10,700	114,600	23,684	33,608	47,381	74,527
Net increase in cash and cash equivalents and restricted cash and cash equivalents
163,200	6,000	-110,700	129,900	-214,000	149,600	13,700	116,200	-14,700	-62,600	13,300	88,500	66,200	-152,600	149,200	2,800	-128,400	133,400	-85,400	80,300	2,100	-2,400	1,100	1,400	600	-5,400	1,200	-1,200	-	-	-	-	1,058	-2,056	1,105	793
Supplemental Cash Flow Information [Abstract]
Cash paid during the period for interest
34,000	62,500	30,300	48,800	29,000	46,200	25,500	40,300	19,900	36,900	18,000	34,000	14,500	31,900	12,400	29,200	9,500	26,600	8,400	17,300	7,300	17,100	7,000	23,800	6,500	22,100	6,700	22,200	6,400	22,200	14,200	13,400	13,723	12,987	13,823	10,867
Cash paid during the period for income taxes
55,700	40,300	74,600	1,800	32,200	30,900	104,100	1,600	42,900	46,400	83,900	1,800	36,000	27,400	25,800	22,000	44,700	22,300	59,700	20,200	28,200	28,200	38,000	5,500	11,300	27,100	55,500	25,700	23,500	24,800	34,400	9,700	21,384	17,086	31,724	6,306