CDK Global, Inc. CDK Cash Flow

Cdk global, inc. (CDK)

CashFlow / Quarterly

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
Cash Flows from Operating Activities
Net earnings
59,500	24,100	84,100	-153,000	101,700	90,900	92,300	101,600	97,800	106,200	83,100	60,900	78,800	83,600	79,200	60,200	55,700	69,700	61,200	42,700	58,200	44,400	41,000	54,700	75,500	52,200	53,500
Less: net earnings (loss) from discontinued operations
-34,900	-45,700	5,700	-156,300	12,400	18,300	15,800	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net earnings from continuing operations
94,400	69,800	78,400	3,300	89,300	72,600	76,500	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Adjustments to reconcile net earnings from continuing operations to cash flows provided by operating activities, continuing operations:
Depreciation and amortization
24,500	24,600	23,500	24,700	23,600	23,700	17,800	12,200	19,600	19,500	19,500	11,400	17,600	17,300	17,100	18,400	16,900	14,700	14,000	19,400	13,700	29,500	13,900	12,700	6,100	17,000	16,500
Deferred income taxes
0	14,900	0	-25,600	16,200	-3,500	7,800	-1,300	3,300	-14,400	2,300	20,600	-4,700	-1,900	6,900	-11,400	-11,200	1,100	17,900	-23,300	-4,300	-2,100	4,400	-1,400	-8,500	-2,400	-3,200
Stock-based compensation expense
1,300	8,600	2,900	16,500	7,800	3,200	3,000	5,500	6,900	12,900	8,100	20,400	11,800	10,700	9,800	10,900	12,700	7,000	5,800	8,400	8,600	8,000	5,400	6,000	5,200	5,900	3,900
Pension expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-200	200	800	800	1,000	900	1,000
Other
-4,100	-5,500	-6,400	-3,900	-3,100	-2,700	-1,400	-1,900	-1,500	300	-1,500	-1,400	-800	-900	-1,500	1,100	-500	100	4,900	6,700	0	1,500	4,400	-3,600	5,600	-800	2,300
Changes in assets and liabilities, net of effect from acquisitions of businesses:
Change in accounts receivable
26,800	22,800	8,100	-10,300	16,400	25,700	-11,700	-9,500	-13,100	31,400	1,800	-37,200	40,600	-4,600	6,800	-14,100	1,300	48,200	21,600	-38,700	27,900	27,000	700	400	11,300	15,600	9,100
Change in other assets
21,500	-7,500	4,500	22,400	38,500	2,600	-14,300	-3,900	-16,900	26,600	-19,800	-6,000	-3,100	17,600	-10,000	-27,000	-17,600	20,200	21,400	5,200	1,100	11,700	6,300	12,700	-800	3,900	8,600
Change in accounts payable
21,500	-8,600	-5,500	7,300	8,000	-13,300	-3,600	24,100	7,400	-17,200	-3,800	3,700	12,700	-6,300	-5,000	4,000	19,100	-5,900	-1,900	-1,700	5,400	800	-1,500	2,800	2,400	-1,800	-3,100
Change in accrued expenses and other liabilities
24,700	-11,500	-28,700	88,300	46,600	-24,500	-5,300	-52,700	29,000	-25,200	-900	-18,500	34,300	-4,700	-25,900	-8,900	71,100	2,500	-43,900	35,400	2,800	43,500	-31,700	37,200	-10,200	26,200	-40,700
Net cash flows provided by operating activities, discontinued operations
10,800	18,500	7,800	19,500	-3,100	11,800	16,400	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash flows provided by operating activities
133,000	106,500	64,400	143,900	139,900	59,300	123,600	119,600	195,500	23,500	127,800	148,500	113,800	86,600	86,800	113,200	181,100	20,600	5,200	107,700	55,200	84,100	20,900	103,300	55,400	79,300	7,900
Cash Flows from Investing Activities
Capital expenditures
7,100	9,200	3,100	15,200	12,100	18,300	8,800	9,000	8,500	18,100	10,300	15,400	17,300	12,900	16,800	15,800	16,900	10,000	8,100	16,800	12,700	8,700	5,800	6,200	5,000	13,400	12,000
Capitalized software
16,900	16,100	10,300	11,800	9,400	9,000	7,700	3,500	9,600	8,100	9,600	5,200	12,900	7,900	2,100	3,900	7,500	1,000	1,100	12,400	5,500	900	1,100	-	-	-	-
Additions to intangible assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,900
Acquisitions of businesses, net of cash acquired
0	0	0	0	-200	0	513,200	0	0	12,800	0	-	-	-	-	-	-	-	-	-	-	-	-	0	300	15,700	9,700
Investment in certificates of deposit
0	0	12,000	-	0	0	0	-	0	0	0	-	-	-	-	-	0	0	6,700	-	-	-	-	-	-	-	-
Purchases of investments
20,000	0	0	-	0	0	10,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from investments
-	-	-	-	-	-	-	-1,600	0	0	800	-11,900	0	2,000	2,000	-18,400	1,000	7,700	0	-16,600	0	0	0	-	-	-	-
Net cash flows used in investing activities, discontinued operations
-1,300	-2,200	-2,500	-2,100	-2,000	-2,200	-2,400	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from notes receivable from ADP and its affiliates
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	40,600	-1,700	0	-2,500	0
Net cash flows used in investing activities
-40,600	-20,200	-25,400	-36,100	-22,600	-22,400	-539,700	-37,300	-18,100	-39,000	-19,100	-20,400	-31,700	-18,900	-16,900	-21,000	-41,400	-3,300	-15,900	-33,000	-32,800	-8,700	33,700	-10,800	-7,000	-72,600	16,400
Cash Flows from Financing Activities
Repayments of notes payable to ADP and its affiliates
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	21,900	0	1,600	500	0
Borrowings on notes payable to ADP and its affiliates
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	1,000
Net transactions of parent company investment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-240,800	-48,400	11,000	-38,900	40,000
Proceeds from long-term debt
10,000	90,000	0	10,000	60,000	170,000	860,000	500,000	0	0	0	-	-	-	-	-	-	-	-	0	0	750,000	1,000,000	0	0	0	0
Repayments of long-term debt and lease liabilities
5,400	255,200	5,200	4,800	4,800	4,600	792,300	11,600	11,600	11,600	11,600	11,700	11,700	6,900	6,600	6,700	6,600	3,400	3,300	3,300	3,100	753,100	0	-	-	-	-
Dividend paid to ADP at spin-off
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	825,000	0	0	0	0
Dividends paid to stockholders
18,200	18,300	18,200	18,200	18,600	18,700	19,300	19,700	20,200	20,500	19,700	19,700	20,400	20,400	20,200	20,400	21,100	21,600	19,200	19,400	19,400	19,400	0	-	-	-	-
Repurchases of common stock
0	0	0	79,800	70,200	260,000	114,100	185,300	122,900	300,800	14,600	350,000	0	350,000	0	300,000	0	250,000	11,000	17,800	32,200	0	0	-	-	-	-
Proceeds from exercises of stock options
1,200	2,200	2,700	2,000	1,500	500	1,000	700	4,400	1,200	2,600	2,600	7,000	4,000	1,100	1,400	2,400	1,400	1,500	2,900	3,800	3,100	0	-	-	-	-
Excess tax benefit from stock-based compensation awards
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,500	400	1,100	5,900	1,500	2,900	2,900	3,900	-	-	-	-
Withholding tax payments for stock-based compensation awards
0	500	5,200	0	500	400	14,900	300	700	1,100	8,500	200	1,500	200	10,300	100	100	100	8,400	0	900	0	0	-	-	-	-
Dividend payments to noncontrolling owners
0	2,200	4,400	2,100	0	3,800	4,400	0	7,400	0	0	3,300	0	0	3,000	5,000	0	0	0	0	0	0	5,400	-	-	-	-
Acquisition-related payments
600	1,100	3,600	-	3,700	2,100	1,100	-	1,100	1,000	900	-	1,000	1,400	4,800	-	2,700	0	0	-	-	-	-	-	-	-	-
Payment of Financing and Stock Issuance Costs
0	0	0	7,300	0	0	4,400	7,500	0	0	400	8,500	100	2,000	0	-	-	-	-	0	200	6,200	2,800	-	-	-	-
Other
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6,100
Recovery of dividends paid (Note 1D)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	400	0	0	0	0	-	-	-	-
Net cash flows used in financing activities
-13,000	-186,200	-33,900	-104,100	-36,300	-119,100	-89,500	275,200	-159,500	-333,800	-53,100	208,300	-27,700	23,100	-43,800	-332,800	-28,200	-24,200	-34,100	-36,100	-49,100	-22,700	-92,000	-58,500	2,700	400	7,100
Effect of exchange rate changes on cash, cash equivalents, and restricted cash
-16,900	8,700	-7,400	400	-800	-3,000	-3,500	-14,000	4,900	3,600	6,900	9,200	3,200	-8,800	400	-4,400	5,100	-5,200	-3,800	1,100	-7,000	-5,800	-10,100	8,800	-6,700	-500	1,300
Net change in cash, cash equivalents, and restricted cash
62,500	-91,200	3,000	4,100	80,200	-85,200	-495,100	343,500	22,800	-345,700	62,500	345,600	57,600	82,000	26,500	-245,000	116,600	-12,100	-48,600	39,700	-33,700	46,900	-47,500	42,800	44,400	6,600	32,700
Supplemental Disclosures
Cash paid for:
Income taxes and foreign withholding taxes, net of refunds, continuing operations
22,900	18,200	11,900	19,700	36,700	57,700	10,100	40,000	8,500	61,700	8,700	26,800	25,200	59,600	8,700	12,900	10,200	48,900	37,400	53,500	56,700	7,300	3,300	4,900	3,600	7,100	2,500
Interest
19,400	53,300	15,400	56,400	10,700	56,100	6,800	39,600	7,000	39,700	6,500	23,200	6,000	18,000	2,400	17,800	2,500	16,500	1,000	16,500	1,000	600	1,100	-600	200	300	200
Non-cash investing and financing activities:
Capitalized property and equipment obtained under lease
4,800	6,900	12,000	-	600	2,000	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Lease liabilities incurred
4,800	17,900	1,000	-	600	1,800	200	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Intangible assets purchased, not paid
-	-1,000	1,500	-	-	100	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash settlement of common stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-