CAI International, Inc. CAI Cash Flow

Cai international, inc. (CAI)

CashFlow / TTM

Mar'20	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 (loss) income
11,107	31,011	42,569	69,070	80,032	78,596	95,752	91,585	83,926	72,060	36,117	13,079	4,155	6,034	-7,367	11,099	20,315	26,735	55,356	58,774	59,338	59,998	60,343	59,247	62,684	64,520	65,746	67,175	65,892	64,281	59,793	56,832	52,275	50,814	0	0	0
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation
107,792	112,317	114,164	113,133	110,264	107,304	96,133	96,232	100,914	100,093	110,688	112,761	110,181	105,236	125,411	118,223	115,786	114,003	86,707	83,944	80,991	78,451	76,203	73,723	70,956	67,631	63,679	58,787	53,541	48,849	45,584	41,614	38,000	34,078	0	0	0
Impairment of rental equipment
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of debt issuance costs
3,707	3,921	4,007	3,853	3,907	3,650	2,846	2,908	2,796	2,598	3,158	2,925	2,968	2,975	3,177	3,153	3,005	2,943	3,299	3,515	3,557	3,552	2,926	2,757	2,775	3,780	3,846	3,825	3,709	2,643	2,349	2,016	1,736	1,421	0	0	0
Amortization of intangible assets
1,610	1,610	1,659	1,707	1,848	1,989	1,971	1,954	1,844	1,969	2,297	2,271	2,036	1,443	757	377	224	232	247	314	368	383	392	524	652	780	907	904	902	902	905	1,020	1,138	1,254	0	0	0
Stock-based compensation expense
2,793	2,758	2,837	2,778	2,818	2,583	2,187	2,049	1,981	1,838	1,951	1,819	1,723	1,732	1,799	1,854	1,873	1,915	1,957	2,012	1,988	1,885	1,789	1,700	1,609	1,536	1,451	1,362	1,321	1,288	1,172	1,151	1,157	1,119	0	0	0
Unrealized loss on foreign exchange
-210	-16	-464	-260	-542	-436	-381	-263	210	-106	-236	-272	-519	-276	-148	-194	-130	-251	-152	-129	-95	-81	148	-2	-89	282	252	181	93	-244	-774	-143	204	215	0	0	0
Gain on sale of rental equipment
-2,816	4,402	7,792	8,014	16,523	9,886	10,324	9,354	8,401	5,333	-2,182	-7,168	-12,811	-12,671	-8,841	-5,446	-1,744	-654	2,198	3,363	5,089	6,522	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income taxes
-400	3,734	3,008	4,576	4,050	4,172	-4,718	-5,912	-6,598	-6,749	-662	308	1,639	1,138	6,702	5,779	4,742	4,967	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Bad debt (recovery) expense
0	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of equipment portfolios
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,256	1,256	1,938	2,191	2,345	0	0	0
Gain on disposition of used rental equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	12,034	13,294	12,854	13,374	0	0	0
Deferred income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	5,938	5,911	5,786	6,014	0	0	0	-	-	-	-
Bad debt expense
-	-	-	-	-	-	-	-	-	-	-	2,977	3,188	3,151	2,580	417	494	448	0	0	0	-	-	-	-	-227	48	30	54	29	60	193	101	-936	0	0	0
Changes in other operating assets and liabilities:
Accounts receivable
-7,115	-3,864	8,920	4,720	17,878	18,365	422	13,188	924	4,248	4,330	-1,574	-4,165	1,175	5,519	5,739	9,479	-4,733	-18	-387	-3,240	6,397	-2,893	-5	-3,557	-7,404	-549	6,102	8,912	10,492	12,438	7,552	7,757	3,842	0	0	0
Prepaid expenses and other assets
283	2,245	-878	-336	2,236	1,131	801	-424	-4,845	-738	2,572	4,529	6,772	2,691	1,094	-2,223	159	81	-679	-2,274	-4,310	-4,256	-1,287	3,765	3,233	3,136	345	1,269	1,559	1,814	1,125	-2,505	-484	-1,406	0	0	0
Net investment in finance leases
66,359	65,688	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable, accrued expenses and other liabilities
8,807	6,518	3,700	-1,998	-66	-834	-4,428	-7,340	-11,363	-9,838	-3,855	-524	-5,231	3,572	-1,520	-496	6,314	-3,654	673	-1,405	-763	3,046	-5,776	-5,453	-6,838	-8,839	-1,937	3,326	3,351	9,016	9,238	5,903	3,306	933	0	0	0
Due to container investors
-	-	-	-	-	-	-	-	-6,603	-	-13	-3	-163	652	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Due to container investors
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	600	294	-2,928	-3,774	-7,564	-7,373	-5,833	-1,524	-2,032	-4,027	-720	-3,170	0	0	0
Unearned revenue
1,605	5	-239	-317	-1,850	-174	121	1,377	-47	-333	-3,668	-3,899	-4,146	-2,115	156	-1,722	2,323	1,406	1,247	1,663	708	367	1,579	1,719	-841	-1,056	-2,007	-604	425	1,095	1,976	1,930	1,378	1,079	0	0	0
Net cash provided by operating activities of continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	143,276	-	144,719	146,438	148,266	139,687	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by operating activities
259,793	253,997	228,340	219,251	194,852	179,770	192,195	170,558	170,154	155,192	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	115,173	106,598	106,830	96,370	89,950	79,714	72,105	0	0	0
Cash flows from investing activities
Purchase of rental equipment
203,145	316,857	518,710	681,353	768,393	739,944	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of rental equipment
-	-	-	-	-	-	-	-	-	-	358,352	249,519	253,437	251,165	255,325	282,692	346,843	389,331	385,753	386,394	322,413	307,283	250,303	232,868	281,621	312,144	454,808	565,613	563,133	524,354	463,010	426,306	455,714	491,780	0	0	0
Acquisitions, net of cash acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	15,599	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net proceeds from sale of equipment portfolios
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	10,320	10,320	22,564	26,844	24,886	0	0	0
Proceeds from sale of rental equipment
-74,063	81,692	78,379	73,957	236,262	65,602	60,456	55,138	56,020	65,674	68,799	71,789	72,658	66,073	61,099	67,961	65,006	66,150	73,811	67,274	68,451	65,637	53,571	44,023	35,664	33,069	31,041	43,399	42,907	44,306	43,175	31,646	31,756	30,824	0	0	0
Receipt of principal payments from financing receivable
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of furniture, fixtures and equipment
2,545	2,285	2,150	876	815	823	426	235	138	124	81	118	101	82	102	83	93	83	70	58	32	28	32	27	19	60	61	194	300	249	287	189	119	147	0	0	0
Receipt of principal payments from finance leases
-	-	-	-	-	43,352	36,507	34,165	28,283	24,061	16,801	16,797	16,674	19,633	23,413	23,390	24,035	22,116	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Receipt of principal payments from direct financing leases
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	11,674	10,729	9,685	8,758	7,859	6,949	6,367	6,080	0	0	0
Net cash used in investing activities of continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-268,675	-	-295,324	-299,652	-235,867	-225,355	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net cash (used in) provided by investing activities
-190,423	-148,445	-318,956	-482,538	-529,460	-663,343	-655,559	-555,328	-481,844	-411,751	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-511,679	-510,841	-461,219	-401,943	-365,336	-390,866	-430,137	0	0	0
Cash flows from financing activities
Proceeds from debt
508,463	705,045	878,734	1,317,357	1,434,546	1,605,564	1,375,208	1,224,498	1,096,153	704,340	676,544	415,681	493,127	552,540	730,540	803,890	799,350	748,731	506,388	368,781	400,391	372,510	369,553	343,260	287,900	588,870	971,170	1,204,858	1,261,551	1,035,381	820,482	653,294	617,401	558,401	0	0	0
Principal payments on capital leases
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Principal payments on debt
352,770	631,875	582,351	903,218	1,084,871	1,143,908	1,055,515	931,403	863,829	522,486	536,331	390,893	460,366	496,270	688,880	738,438	658,232	581,739	333,587	190,568	265,496	245,136	279,590	265,877	168,284	406,961	691,030	809,036	888,570	699,161	489,916	363,792	269,861	197,901	0	0	0
Debt issuance costs
-	839	-5,297	-1,844	795	3,861	0	0	0	-	-	-	-	1,515	3,025	2,505	1,582	3,226	0	0	0	-	-	-	-	6,595	10,173	11,441	12,216	6,436	3,146	2,914	2,195	1,853	0	0	0
Proceeds from issuance of common and preferred stock
-	-	-	-	-	103,433	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
(Increase) decrease in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,020	-1,021	-1,021	-1,020	-1,276	-1,020	-1,020	-1,021	-765	-1,020	-1,020	4,877	9,508	8,621	8,875	3,777	0	1,142	1,143	599	0	0	0
Repurchase of common stock
-	34,118	0	0	0	-	-	-	-	-	-	-	-	9,176	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends paid to preferred stockholders
8,828	8,828	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Stock issuance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	155	0	0	0	-	-	0	0	-	0	0	0
Exercise of stock options
1,291	1,285	532	335	107	24	-1,193	-1,046	-158	145	0	0	0	-	-	-	-	4,747	4,830	4,731	4,460	114	52	387	444	1,524	0	0	0	-	-	0	0	-	-	-	-
Excess tax benefit from share-based compensation awards
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by financing activities of continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	121,091	-	165,662	169,328	106,164	95,142	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by (used in) financing activities
-11,585	-108,479	97,537	287,492	345,289	512,350	486,340	415,303	339,980	251,222	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	408,853	384,926	358,083	308,092	288,239	345,794	358,048	0	0	0
Effect on cash of foreign currency translation
-132	183	-854	-60	137	-3	-183	165	-679	220	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net increase in cash and restricted cash
57,653	-2,744	6,067	24,145	10,818	28,774	22,793	30,698	27,611	-5,117	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Effect on cash of foreign currency translation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	285	568	750	75	-1,339	-1,969	-1,958	-1,394	-495	754	334	-1,411	-1,389	-1,910	-1,508	-101	-457	-766	-895	-331	0	0	0
Net decrease in cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-26,702	-29,504	-3,558	-1,268	13,718	14,145	16,605	8,080	14,832	13,397	13,287	28,070	20,407	10,437	-20,825	3,593	0	0	0	-	-	-	0
Supplemental disclosure of cash flow information
Cash paid during the period for:
Income taxes
891	871	832	920	568	651	398	232	271	194	311	536	741	889	978	940	920	2,340	2,007	2,061	2,202	852	1,290	1,535	2,935	5,122	5,819	5,665	4,245	3,312	3,668	5,542	8,291	6,983	0	0	0
Interest
81,959	84,767	85,448	86,962	77,176	71,286	63,750	53,609	52,746	47,596	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Supplemental disclosure of non-cash operating activity
Interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	34,179	-	32,847	32,648	32,350	32,774	32,861	33,396	33,153	32,267	31,795	29,126	27,791	24,087	21,889	17,617	14,956	12,475	0	0	0
Supplemental disclosure of non-cash investing and financing activity
Transfer of rental equipment to finance lease
108,177	110,766	97,654	264,043	309,090	316,697	332,064	252,928	219,183	205,033	149,127	32,031	11,963	19,036	20,915	23,330	34,035	30,604	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Transfer of finance lease to rental equipment
-	-	-	-	-	-	-	-	-	413	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Rental equipment payable
-26,488	25,137	-129,606	-34,309	-3,354	74,139	160,182	211,337	174,772	92,415	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Transfer of rental equipment to direct finance lease
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	33,129	55,178	39,894	56,426	56,251	54,368	49,474	31,158	0	0	0