THE CHEESECAKE FACTORY INCORPORATED CAKE Cash Flow

The cheesecake factory incorporated (CAKE)

CashFlow / Quarterly

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	Dec'10	Sep'10	Jun'10	Mar'10
Cash flows from operating activities:
Net income
48,709	16,090	35,510	26,984	16,178	28,475	28,353	26,029	57,738	26,445	38,166	35,043	32,381	34,574	38,585	33,954	27,200	26,176	34,724	28,423	24,486	24,223	30,049	22,518	33,000	27,481	28,583	25,292	22,139	27,163	28,399	20,722	29,942	20,574	24,748	20,456	21,865	21,953	19,229	18,666
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization expenses
23,770	21,342	21,659	21,362	24,157	24,090	23,727	24,002	23,237	22,999	23,297	23,196	23,451	21,634	21,461	21,464	21,911	21,317	21,158	21,177	21,120	20,930	20,534	20,251	20,452	19,661	19,215	19,230	18,893	18,733	18,509	18,298	19,434	17,588	17,483	17,453	18,057	17,902	18,026	18,155
Deferred income taxes
443	-351	-4,081	1,792	-6,426	111	-352	1,157	-26,319	-1,125	-922	3,186	-1,569	-649	-1,948	3,161	509	-471	-69	1,215	1,379	-985	-1,001	811	-1,616	1,531	2,440	2,278	-13,849	-4,546	2,714	2,923	2,652	1,939	1,767	1,549	-3,657	-781	-27	378
Impairment of assets and lease terminations
-	-	-	-	-	-	-	-	9,095	2	703	786	-	-	-	-	-	-	-	-	-192	-180	431	186	256	1,533	1,041	464	-	-	-	-	-	-	-	-	-	-	-	-
Stock-based compensation
4,238	4,647	4,641	5,847	4,181	4,732	5,062	6,013	1,390	5,279	5,173	4,615	5,296	4,873	6,119	5,185	5,504	4,872	4,946	4,731	5,024	4,055	3,899	3,839	3,862	3,460	3,408	3,405	2,411	2,153	2,910	3,364	838	2,851	2,965	2,981	1,440	2,891	2,939	3,643
Tax impact of stock options exercised, net of cancellations
-	-	-	-	-	-	-	-	-	-	-	-	5,272	1,891	619	5,940	854	3,809	3,498	4,340	2,529	1,345	1,090	3,942	2,802	1,985	728	1,644	247	93	603	1,492	216	28	375	225	257	29	-254	201
Gain/(loss) from investments in unconsolidated affiliates
52,672	-10,345	-1,644	-1,450	-2,068	-1,558	-1,039	-89	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefit related to stock options exercised
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,834	3,509	4,317	2,649	1,289	1,072	3,851	2,615	1,885	1,084	2,181	484	309	798	1,210	-38	282	256	241	1,423	162	1,043	729
Other
-	-	-	-	-	-	-	-	-	-	-	-	-647	-1,603	-508	-834	-543	-726	-532	-814	-723	-439	-497	-400	-485	236	-420	1,133	-434	-434	-191	-200	-216	-395	-239	-173	-645	-189	611	45
Changes in assets and liabilities, net of acquired amounts
Accounts and other receivables
36,857	2,489	172	-43,295	32,067	2,003	6,844	-44,594	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income taxes receivable/payable
3,789	-6,032	-2,414	-681	3,897	-751	-1,085	13,668	-9,978	-840	-9,661	3,164	3,557	3,882	11,680	2,718	-2,708	-10,114	6,866	4,600	-5,844	-8,772	-1,674	3,436	-2,113	-519	-6,510	3,400	7,024	-1,867	-1,401	2,929	-840	-2,883	-3,414	5,505	2,035	4,951	-9,584	634
Accounts receivable
-	-	-	-	-	-	-	-	-	-878	1,613	-3,172	1,682	-518	1,389	-1,080	3,293	2,055	-3,832	-2,527	4,173	1,829	-2,514	1,591	-1,084	221	2,157	-5,771	2,364	1,946	1,368	-2,454	-1,690	7,223	-876	-9,507	6,440	3,475	-726	-4,357
Other receivables
-	-	-	-	-	-	-	-	-	-799	2,368	-32,264	33,827	3,615	-3,438	-42,070	37,654	1,591	3,721	-32,635	26,773	4,050	2,777	-26,733	24,250	2,487	1,834	-22,085	18,163	4,716	6,429	-13,304	12,136	-13	2,294	-9,617	10,925	1,363	852	-13,319
Inventories
-3,124	1,768	3,980	3,142	-878	5,076	-6,264	-1,601	-1,635	3,949	1,705	3,615	-615	970	-972	1,533	-2,732	276	3,941	-730	-3,911	787	1,724	-823	-1,568	1,356	1,853	5,001	-2,117	-523	-1,776	5,042	-5,783	1,745	5,250	3,962	-6,888	3,136	2,389	2,197
Prepaid expenses
1,387	-626	-7,249	10,621	3,901	-5,446	-1,087	-3,630	9,144	-2,398	-1,666	147	16,101	-1,487	-2,813	-1,339	-2,104	-2,542	43	8,346	-2,110	-1,678	-873	299	6,669	-2,196	-1,098	-667	5,580	-1,273	-792	-126	10,620	654	-2,257	-864	5,113	-2,625	-1,264	-750
Operating lease assets/liabilities
-10,253	-270	6,634	-1,130	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other assets
3,004	1,001	2,088	5,896	-7,127	810	187	-1,276	2,989	1,765	1,630	2,650	617	1,130	452	619	1,262	-1,473	4,163	1,847	1,137	-437	2,121	824	1,771	2,840	172	-786	1,463	2,343	315	2,412	664	-1,883	1,058	706	-828	1,206	-1,528	588
Accounts payable
17,980	-2,237	-1,794	-11,623	13,993	-3,553	-1,194	-3,645	5,813	-5,809	7,327	-3,560	5,278	1,466	-5,483	-509	1,927	-6,296	-7,228	-1,334	2,951	3,153	-1,688	13,764	-8,564	8,347	265	-11,628	13,294	11,567	-14,628	606	481	-3,024	2,189	3,862	3,201	-2,200	-418	-1,880
Gift Card Liabilities
46,469	-6,794	-3,386	-26,594	47,001	-8,278	-4,514	-25,814	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other accrued expenses
21,476	-210	4,099	-9,787	18,244	-2,422	11,756	-17,657	63,749	-5,041	7,402	-47,350	68,515	1,066	-844	-32,742	56,619	-2,169	2,736	-20,000	55,206	502	-2,838	-13,022	38,557	5,021	-74	-19,947	40,141	4,634	1,928	-16,378	35,608	-1,695	736	-14,532	29,103	-4,068	1,253	-8,304
Cash provided by operating activities
102,554	32,438	50,253	33,516	109,209	41,558	65,605	74,943	84,586	40,271	65,835	48,104	91,330	66,630	76,079	82,342	86,646	40,120	55,618	65,348	78,671	38,870	44,992	77,116	54,468	61,671	43,514	45,132	70,266	50,846	32,883	41,376	74,185	27,765	41,363	52,751	56,761	34,149	29,697	46,450
Cash flows from investing activities:
Additions to property and equipment
27,063	17,331	16,020	13,351	24,193	26,846	21,182	30,688	47,362	29,718	24,476	19,223	45,214	30,399	17,767	22,441	45,348	49,120	35,322	24,151	26,109	30,063	27,710	30,100	39,191	29,581	22,936	14,581	21,831	30,192	18,070	16,349	26,526	20,044	19,671	10,505	12,432	11,550	10,953	6,912
Additions to intangible assets
1,747	155	102	96	343	1,942	428	307	751	284	317	302	346	370	304	620	484	328	401	547	410	823	307	339	429	414	372	439	-14	441	50	1,235	249	263	134	224	-	-	-	-
Investments in unconsolidated affiliates
0	0	0	3,000	-	-	-	-	9,000	0	8,912	88	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
loans made to unconsolidated Affiliates
0	4,500	7,000	11,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash used in investing activities
-290,505	-21,986	-23,122	-27,447	-24,536	-39,788	-35,070	-30,995	-57,113	-30,002	-33,705	-19,613	-87,560	-30,769	-18,071	-23,061	-45,832	-49,448	-35,723	-24,698	-26,519	-30,886	-28,017	-30,439	-39,620	-29,995	-23,308	-15,020	-21,817	-30,633	-18,120	-17,584	-26,775	-20,307	-19,805	-10,729	-14,253	-11,550	-10,953	-6,912
Cash flows from financing activities:
Deemed landlord financing proceeds
-	-	-	-	2,632	15,525	21	3,610	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-498	2,395	119	82	1,778	1,680	983	629	-	-	-	-
Deemed landlord financing payments
-	-	-	-	1,329	1,290	1,258	1,251	1,177	1,090	1,068	1,056	1,016	925	907	873	840	781	754	743	716	688	632	614	586	548	508	501	488	474	466	459	445	422	415	405	391	386	378	374
Borrowings on credit facility
0	300,000	15,000	20,000	25,000	15,000	0	30,000	-	-	-	-	-	-	-	-	35,000	0	0	25,000	0	0	0	25,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments on credit facility
45,000	0	0	10,000	35,000	15,000	10,000	10,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from exercise of stock options
1,208	325	650	5,541	1,239	1,020	5,777	540	936	391	2,341	5,368	9,455	5,128	2,150	11,645	2,549	8,556	11,223	5,669	10,168	4,152	2,721	5,899	9,884	13,591	29,393	20,028	12,000	9,376	8,593	9,314	6,854	1,817	4,735	2,740	17,728	1,262	5,957	5,630
Excess tax benefit related to stock options exercised
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,834	3,509	4,317	2,649	1,289	1,072	3,851	2,615	1,885	1,084	2,181	484	309	798	1,210	-38	282	256	241	1,423	162	1,043	729
Cash dividends paid
15,732	15,703	14,659	14,628	14,802	14,928	13,353	13,168	13,257	13,455	11,492	11,685	11,322	11,466	9,644	9,939	9,762	9,769	7,995	8,443	8,106	8,089	6,923	7,214	7,221	7,365	6,350	6,255	-	-	-	-	-	-	-	-	-	-	-	-
Treasury stock purchases
421	11,397	28,093	11,071	48,383	18,864	7,126	34,903	16,595	75,826	21,263	9,291	27,466	42,371	26,584	50,046	17,346	7,828	3,808	80,389	156	17,140	24,206	98,981	48,127	90,249	3,289	41,994	26,429	17,422	16,691	40,850	27,066	50,030	44,418	50,612	934	21,208	17,444	12,502
Payment for future treasury stock purchases under accelerated stock repurchase agreement
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	4,601	-	-	0	4,904	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash provided/(used) in financing activities
-59,945	273,225	-27,102	-10,158	-70,643	-18,537	-25,939	-25,172	-41,181	-56,764	-31,482	-16,664	-15,776	-49,634	-32,312	-49,213	-26,567	-22,613	2,175	-59,190	-16,275	-11,420	-22,863	-76,963	-35,722	-79,674	23,277	-26,541	-21,311	-12,198	-7,647	-30,703	-18,917	-46,673	-38,859	-47,407	-20,683	-49,098	-39,187	-6,517
Foreign currency translation adjustment
60	-29	46	40	-91	37	-28	17	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net change in cash and cash equivalents
-247,836	283,648	75	-4,049	13,939	-16,730	4,568	18,793	-13,787	-46,519	648	11,827	-12,006	-13,773	25,696	10,068	14,247	-31,941	22,070	-18,540	35,877	-3,436	-5,888	-30,286	-20,874	-47,998	43,483	3,571	27,138	8,015	7,116	-6,911	28,493	-39,215	-17,301	-5,385	21,825	-26,499	-20,443	33,021
Supplemental disclosures:
Interest paid
792	218	320	316	2,000	2,011	2,115	2,030	1,973	1,780	1,748	1,627	1,319	1,664	1,572	1,483	1,639	1,430	1,533	1,455	1,478	1,347	1,371	1,234	1,207	1,142	1,135	1,118	1,096	1,093	1,127	1,118	1,138	1,047	895	1,170	1,511	1,700	11,510	2,771
Income taxes paid
3,812	7,027	9,373	566	2,005	2,853	4,681	610	1,387	8,246	21,055	894	5,163	7,735	4,125	909	11,195	15,365	3,307	543	10,640	16,731	13,015	688	11,359	8,385	14,654	2,861	11,598	16,687	11,625	1,044	6,236	9,762	10,562	686	8,103	4,617	17,566	752
Construction payable
104	2,377	1,353	2,670	-4,024	4,359	712	3,538	-1,411	6,127	3,954	3,475	-2,620	-1,133	5,693	4,601	1,635	-1,666	5,246	8,285	2,932	3,850	2,246	1,096	-1,304	6,073	1,226	402	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash operating:
Settlement of sale-leaseback accounting
-	-	-	-	11,577	-185	0	471	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash investing:
Settlement of landlord sale-leaseback accounting
-	-	-	-	7,998	2,882	0	-4,056	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash financing:
Settlement of landlord financing obligation for sale-leaseback leases
-	-	-	-	-19,575	-2,697	0	3,585	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deemed landlord financing proceeds
-	-	-	-	6,470	3,522	3,350	406	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-