THE CHEESECAKE FACTORY INCORPORATED CAKE Cash Flow

The cheesecake factory incorporated (CAKE)

CashFlow / TTM

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
127,293	94,762	107,147	99,990	99,035	140,595	138,565	148,378	157,392	132,035	140,164	140,583	139,494	134,313	125,915	122,054	116,523	113,809	111,856	107,181	101,276	109,790	113,048	111,582	114,356	103,495	103,177	102,993	98,423	106,226	99,637	95,986	95,720	87,643	89,022	83,503	81,713	0	0	0
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization expenses
88,133	88,520	91,268	93,336	95,976	95,056	93,965	93,535	92,729	92,943	91,578	89,742	88,010	86,470	86,153	85,850	85,563	84,772	84,385	83,761	82,835	82,167	80,898	79,579	78,558	76,999	76,071	75,365	74,433	74,974	73,829	72,803	71,958	70,581	70,895	71,438	72,140	0	0	0
Deferred income taxes
-2,197	-9,066	-8,604	-4,875	-5,510	-25,403	-26,639	-27,209	-25,180	-430	46	-980	-1,005	1,073	1,251	3,130	1,184	2,054	1,540	608	204	-2,791	-275	3,166	4,633	-7,600	-13,677	-13,403	-12,758	3,743	10,228	9,281	7,907	1,598	-1,122	-2,916	-4,087	0	0	0
Impairment of assets and lease terminations
-	-	-	-	-	-	-	-	10,586	0	0	0	-	-	-	-	-	-	-	-	245	693	2,406	3,016	3,294	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Stock-based compensation
19,373	19,316	19,401	19,822	19,988	17,197	17,744	17,855	16,457	20,363	19,957	20,903	21,473	21,681	21,680	20,507	20,053	19,573	18,756	17,709	16,817	15,655	15,060	14,569	14,135	12,684	11,377	10,879	10,838	9,265	9,963	10,018	9,635	10,237	10,277	10,251	10,913	0	0	0
Tax impact of stock options exercised, net of cancellations
-	-	-	-	-	-	-	-	-	-	-	-	13,722	9,304	11,222	14,101	12,501	14,176	11,712	9,304	8,906	9,179	9,819	9,457	7,159	4,604	2,712	2,587	2,435	2,404	2,339	2,111	844	885	886	257	233	0	0	0
Gain/(loss) from investments in unconsolidated affiliates
39,233	-15,507	-6,720	-6,115	-4,754	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefit related to stock options exercised
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	14,309	11,764	9,327	8,861	8,827	9,423	9,435	7,765	5,634	4,058	3,772	2,801	2,279	2,252	1,710	741	2,202	2,082	2,869	3,357	0	0	0
Other
-	-	-	-	-	-	-	-	-	-	-	-	-3,592	-3,488	-2,611	-2,635	-2,615	-2,795	-2,508	-2,473	-2,059	-1,821	-1,146	-1,069	464	515	-155	74	-1,259	-1,041	-1,002	-1,050	-1,023	-1,452	-1,246	-396	-178	0	0	0
Changes in assets and liabilities, net of acquired amounts
Accounts and other receivables
-3,777	-8,567	-9,053	-2,381	-3,680	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income taxes receivable/payable
-5,338	-5,230	51	1,380	15,729	1,854	1,765	-6,811	-17,315	-3,780	942	22,283	21,837	15,572	1,576	-3,238	-1,356	-4,492	-3,150	-11,690	-12,854	-9,123	-870	-5,706	-5,742	3,395	2,047	7,156	6,685	-1,179	-2,195	-4,208	-1,632	1,243	9,077	2,907	-1,964	0	0	0
Accounts receivable
-	-	-	-	-	-	-	-	-	-755	-395	-619	1,473	3,084	5,657	436	-1,011	-131	-357	961	5,079	-178	-1,786	2,885	-4,477	-1,029	696	-93	3,224	-830	4,447	2,203	-4,850	3,280	-468	-318	4,832	0	0	0
Other receivables
-	-	-	-	-	-	-	-	-	3,132	7,546	1,740	-8,066	-4,239	-6,263	896	10,331	-550	1,909	965	6,867	4,344	2,781	1,838	6,486	399	2,628	7,223	16,004	9,977	5,248	1,113	4,800	3,589	4,965	3,523	-179	0	0	0
Inventories
5,766	8,012	11,320	1,076	-3,667	-4,424	-5,551	2,418	7,634	8,654	5,675	2,998	916	-1,201	-1,895	3,018	755	-424	87	-2,130	-2,223	120	689	818	6,642	6,093	4,214	585	626	-3,040	-772	6,254	5,174	4,069	5,460	2,599	834	0	0	0
Prepaid expenses
4,133	6,647	1,827	7,989	-6,262	-1,019	2,029	1,450	5,227	12,184	13,095	11,948	10,462	-7,743	-8,798	-5,942	3,743	3,737	4,601	3,685	-4,362	4,417	3,899	3,674	2,708	1,619	2,542	2,848	3,389	8,429	10,356	8,891	8,153	2,646	-633	360	474	0	0	0
Operating lease assets/liabilities
-5,019	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other assets
11,989	1,858	1,667	-234	-7,406	2,710	3,665	5,108	9,034	6,662	6,027	4,849	2,818	3,463	860	4,571	5,799	5,674	6,710	4,668	3,645	4,279	7,556	5,607	3,997	3,689	3,192	3,335	6,533	5,734	1,508	2,251	545	-947	2,142	-444	-562	0	0	0
Accounts payable
2,326	-1,661	-2,977	-2,377	5,601	-2,579	-4,835	3,686	3,771	3,236	10,511	-2,299	752	-2,599	-10,361	-12,106	-12,931	-11,907	-2,458	3,082	18,180	6,665	11,859	13,812	-11,580	10,278	13,498	-1,395	10,839	-1,974	-16,565	252	3,508	6,228	7,052	4,445	-1,297	0	0	0
Gift Card Liabilities
9,695	10,227	8,743	7,615	8,395	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other accrued expenses
15,578	12,346	10,134	17,791	9,921	55,426	52,807	48,453	18,760	23,526	29,633	21,387	35,995	24,099	20,864	24,444	37,186	35,773	38,444	32,870	39,848	23,199	27,718	30,482	23,557	25,141	24,754	26,756	30,325	25,792	19,463	18,271	20,117	13,612	11,239	11,756	17,984	0	0	0
Cash provided by operating activities
218,761	225,416	234,536	249,888	291,315	266,692	265,405	265,635	238,796	245,540	271,899	282,143	316,381	311,697	285,187	264,726	247,732	239,757	238,507	227,881	239,649	215,446	238,247	236,769	204,785	220,583	209,758	199,127	195,371	199,290	176,209	184,689	196,064	178,640	185,024	173,358	167,057	0	0	0
Cash flows from investing activities:
Additions to property and equipment
73,765	70,895	80,410	85,572	102,909	126,078	128,950	132,244	120,779	118,631	119,312	112,603	115,821	115,955	134,676	152,231	153,941	134,702	115,645	108,033	113,982	127,064	126,582	121,808	106,289	88,929	89,540	84,674	86,442	91,137	80,989	82,590	76,746	62,652	54,158	45,440	41,847	0	0	0
Additions to intangible assets
2,100	696	2,483	2,809	3,020	3,428	1,770	1,659	1,654	1,249	1,335	1,322	1,640	1,778	1,736	1,833	1,760	1,686	2,181	2,087	1,879	1,898	1,489	1,554	1,654	1,211	1,238	916	1,712	1,975	1,797	1,881	870	0	0	0	-	-	-	-
Investments in unconsolidated affiliates
3,000	0	0	0	-	-	-	-	18,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
loans made to unconsolidated Affiliates
22,500	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash used in investing activities
-363,060	-97,091	-114,893	-126,841	-130,389	-162,966	-153,180	-151,815	-140,433	-170,880	-171,647	-156,013	-159,461	-117,733	-136,412	-154,064	-155,701	-136,388	-117,826	-110,120	-115,861	-128,962	-128,071	-123,362	-107,943	-90,140	-90,778	-85,590	-88,154	-93,112	-82,786	-84,471	-77,616	-65,094	-56,337	-47,485	-43,668	0	0	0
Cash flows from financing activities:
Deemed landlord financing proceeds
-	-	-	-	21,788	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,098	4,374	3,659	4,523	5,070	0	0	0	-	-	-	-
Deemed landlord financing payments
-	-	-	-	5,128	4,976	4,776	4,586	4,391	4,230	4,065	3,904	3,721	3,545	3,401	3,248	3,118	2,994	2,901	2,779	2,650	2,520	2,380	2,256	2,143	2,045	1,971	1,929	1,887	1,844	1,792	1,741	1,687	1,633	1,597	1,560	1,529	0	0	0
Borrowings on credit facility
335,000	360,000	75,000	60,000	70,000	0	0	0	-	-	-	-	-	-	-	-	60,000	25,000	25,000	25,000	25,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments on credit facility
55,000	45,000	60,000	70,000	70,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from exercise of stock options
7,724	7,755	8,450	13,577	8,576	8,273	7,644	4,208	9,036	17,555	22,292	22,101	28,378	21,472	24,900	33,973	27,997	35,616	31,212	22,710	22,940	22,656	32,095	58,767	72,896	75,012	70,797	49,997	39,283	34,137	26,578	22,720	16,146	27,020	26,465	27,687	30,577	0	0	0
Excess tax benefit related to stock options exercised
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	14,309	11,764	9,327	8,861	8,827	9,423	9,435	7,765	5,634	4,058	3,772	2,801	2,279	2,252	1,710	741	2,202	2,082	2,869	3,357	0	0	0
Cash dividends paid
60,722	59,792	59,017	57,711	56,251	54,706	53,233	51,372	49,889	47,954	45,965	44,117	42,371	40,811	39,114	37,465	35,969	34,313	32,633	31,561	30,332	29,447	28,723	28,150	27,191	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Treasury stock purchases
50,982	98,944	106,411	85,444	109,276	77,488	134,450	148,587	122,975	133,846	100,391	105,712	146,467	136,347	101,804	79,028	109,371	92,181	101,493	121,891	140,483	188,454	261,563	240,646	183,659	161,961	89,134	102,536	101,392	102,029	134,637	162,364	172,126	145,994	117,172	90,198	52,088	0	0	0
Payment for future treasury stock purchases under accelerated stock repurchase agreement
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash provided/(used) in financing activities
176,020	165,322	-126,440	-125,277	-140,291	-110,829	-149,056	-154,599	-146,091	-120,686	-113,556	-114,386	-146,935	-157,726	-130,705	-96,218	-106,195	-95,903	-84,710	-109,748	-127,521	-146,968	-215,222	-169,082	-118,660	-104,249	-36,773	-67,697	-71,859	-69,465	-103,940	-135,152	-151,856	-153,622	-156,047	-156,375	-115,485	0	0	0
Foreign currency translation adjustment
117	-34	32	-42	-65	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net change in cash and cash equivalents
31,838	293,613	-6,765	-2,272	20,570	-7,156	-36,945	-40,865	-47,831	-46,050	-13,304	11,744	9,985	36,238	18,070	14,444	-14,164	7,466	35,971	8,013	-3,733	-60,484	-105,046	-55,675	-21,818	26,194	82,207	45,840	35,358	36,713	-10,517	-34,934	-33,408	-40,076	-27,360	-30,502	7,904	0	0	0
Supplemental disclosures:
Interest paid
1,646	2,854	4,647	6,442	8,156	8,129	7,898	7,531	7,128	6,474	6,358	6,182	6,038	6,358	6,124	6,085	6,057	5,896	5,813	5,651	5,430	5,159	4,954	4,718	4,602	4,491	4,442	4,434	4,434	4,476	4,430	4,198	4,250	4,623	5,276	15,891	17,492	0	0	0
Income taxes paid
20,778	18,971	14,797	10,105	10,149	9,531	14,924	31,298	31,582	35,358	34,847	17,917	17,932	23,964	31,594	30,776	30,410	29,855	31,221	40,929	41,074	41,793	33,447	35,086	37,259	37,498	45,800	42,771	40,954	35,592	28,667	27,604	27,246	29,113	23,968	30,972	31,038	0	0	0
Construction payable
6,504	2,376	4,358	3,717	4,585	7,198	8,966	12,208	12,145	10,936	3,676	5,415	6,541	10,796	10,263	9,816	13,500	14,797	20,313	17,313	10,124	5,888	8,111	7,091	6,397	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash operating:
Settlement of sale-leaseback accounting
-	-	-	-	11,863	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash investing:
Settlement of landlord sale-leaseback accounting
-	-	-	-	6,824	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash financing:
Settlement of landlord financing obligation for sale-leaseback leases
-	-	-	-	-18,687	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deemed landlord financing proceeds
-	-	-	-	13,748	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-