CDW CORP CDW Cash Flow

Cdw corp (CDW)

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	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 (Loss) Attributable to Parent
167,900	185,600	201,700	196,600	152,900	159,300	183,700	173,000	127,000	194,800	129,300	140,800	58,200	103,900	125,900	117,500	77,800	89,300	150,900	108,200	54,700	51,800	55,600	86,600	50,900	60,000	-2,200	46,700	28,300	33,300	38,000	36,800	10,900	19,000	37,100	-34,800	-4,200
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
91,400	69,600	68,200	65,000	64,300	66,900	65,800	66,300	66,600	65,700	65,700	65,300	64,200	63,800	63,000	63,700	64,000	62,400	59,900	52,600	52,500	52,000	51,900	52,000	52,000	51,900	52,000	52,300	52,000	51,100	53,400	53,200	52,500	51,300	51,200	50,800	51,600
Equity-based compensation expense
8,800	10,800	12,800	12,200	12,700	10,800	10,800	11,000	8,100	10,100	10,000	11,500	12,100	11,100	10,000	9,500	8,600	11,200	7,800	7,500	4,700	4,900	3,900	4,300	3,300	2,300	40,300	2,100	1,900	4,100	6,500	5,800	5,700	7,200	4,200	4,100	4,000
Deferred income taxes
-2,600	54,400	11,000	8,800	13,700	16,900	11,100	14,700	13,400	117,500	14,900	21,200	19,100	22,400	24,900	24,900	25,000	22,500	77,200	-22,600	-22,600	156,300	-22,800	-22,300	-22,100	-27,400	2,200	-9,400	-14,100	-8,200	-16,100	-15,400	-16,600	-1,600	8,900	-9,400	-8,100
Provision for credit losses
29,200	-	-	-	500	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	400	-500	0	900	0
Amortization of deferred financing fees, debt premium and debt discount, net
-	-	-	-	-	-	-	-	-	-	-	-	3,200	-	1,100	1,700	1,600	1,700	1,600	1,600	1,500	1,600	1,600	1,600	1,600	1,700	1,800	2,300	3,000	2,800	2,800	2,800	5,200	3,200	4,800	3,700	4,000
Gain (Loss) on Extinguishment of Debt
-	-	-	-	-	-	-	-	-	-	0	0	-57,400	0	-2,100	0	0	0	0	0	-24,300	-36,900	-45,800	-2,600	-5,400	-8,500	-41,300	-10,300	-3,900	-7,800	0	0	-9,400	0	0	-115,700	-3,200
Gain (Loss) on Disposition of Property Plant Equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss from equity investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-19,100	3,900	4,000	1,200	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Mark-to-market gain on interest rate cap agreements
-	-	-	-	-	-	-	-	-	-	-	-	500	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
1,400	3,800	18,800	4,100	2,300	2,200	3,600	4,000	1,100	58,500	700	1,100	2,100	-	-	-	-	-2,800	700	1,100	1,300	-	-	-	0	-	-	-	-	1,900	0	-200	-700	6,800	-2,000	-1,800	-2,400
Changes in assets and liabilities:
Accounts receivable
209,000	73,000	-58,300	242,000	-11,900	30,800	39,100	355,700	-60,500	16,100	-35,300	340,700	-184,700	161,000	-57,000	312,500	-237,600	164,200	20,700	263,100	-105,400	91,400	-49,500	188,900	-113,200	142,900	-81,000	127,700	-18,800	-9,900	40,100	141,100	-160,900	14,800	82,500	100,300	-14,200
Merchandise inventory
66,400	1,900	-46,200	63,100	134,200	-25,300	-95,600	95,300	72,400	-100,500	31,100	16,500	36,000	3,400	-34,400	30,800	68,200	-23,300	-44,100	79,200	19,700	-85,900	-25,900	61,100	6,500	28,300	-24,800	20,100	43,900	-32,200	25,200	-25,100	25,000	6,500	-33,500	40,200	15,800
Other assets
63,700	-71,300	-27,400	77,700	31,900	-91,300	3,900	77,600	-15,400	-63,800	56,000	105,600	20,000	-49,400	56,800	53,800	-9,400	-30,500	81,600	-3,000	23,100	-51,000	50,200	-6,200	25,700	-62,100	5,000	47,600	19,600	-39,400	-2,100	23,000	22,300	-56,600	-9,300	24,600	-9,000
Accounts payable-trade
157,400	-69,900	-150,900	298,900	116,000	-29,400	-86,200	416,600	-29,800	91,300	-171,600	322,200	-10,400	83,600	-77,800	128,300	91,000	-125,500	74,100	158,900	-7,000	-71,400	-31,300	124,900	21,500	-8,700	-99,000	129,600	124,200	-171,900	2,200	167,500	3,000	-46,900	-89,900	99,000	18,000
Other liabilities
103,400	203,000	-3,700	-22,600	71,600	24,900	50,800	-17,500	59,100	-55,100	95,500	-52,600	78,700	-47,800	73,900	-14,500	38,000	64,600	17,600	-43,400	8,700	-15,700	43,100	-77,700	52,000	17,100	29,200	-39,800	57,600	-49,200	37,900	-30,500	39,700	-24,100	68,000	-65,700	61,400
Long-term liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-4,700	-	-22,200	1,100	-7,000	12,500	7,200	600	1,100	1,600	1,500	1,100	700	-2,400	-2,800	400	-4,100	-1,100	900	700	-1,500	-200	-4,900	-12,800	1,900
Net cash provided by operating activities
223,000	344,900	267,800	162,100	252,400	303,600	270,000	110,100	222,200	338,600	62,900	6,300	369,900	104,700	186,200	-114,700	427,800	-17,400	195,800	-78,700	177,800	84,500	174,600	-70,400	246,300	-4,500	163,700	-900	208,000	-49,700	62,400	81,700	223,000	43,200	41,700	-11,800	141,600
Cash flows used in investing activities:
Capital expenditures
25,400	161,300	31,100	24,500	19,400	32,700	19,800	17,700	15,900	22,500	21,800	17,200	19,600	22,100	15,700	14,700	11,000	46,200	21,000	12,900	10,000	20,600	13,400	11,700	9,300	16,600	10,500	11,200	8,800	16,000	9,700	7,400	8,300	19,800	9,200	8,300	8,400
Payment of accrued charitable contribution related to the MPK Coworker Incentive Plan II
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	20,900	0	0	0	0	-	-	-	-	-	-	-	-
Cash settlements on interest rate swap agreements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	6,600
Premium payments on interest rate cap agreements
-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	0	0	0	500	1,400	700	0	0	-	-	-	-	-	-	-	-	0	500	2,000	1,200
Acquisition of business, net of cash acquired
0	20,100	0	6,300	68,700	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities
-25,400	-181,400	-31,100	-30,800	-88,100	-32,700	-19,800	-17,700	-15,900	-22,500	-21,800	-17,200	-19,600	-22,400	-17,800	-14,700	-11,000	-46,200	-284,800	-12,900	-10,500	-108,800	-14,100	-11,700	-30,200	-16,600	-10,500	-11,200	-8,800	-16,300	-9,700	-7,400	-8,300	-19,800	-9,700	-10,300	-16,200
Cash flows used in financing activities:
Proceeds from borrowings under revolving credit facility
781,000	585,000	969,500	802,500	88,500	-2,200	200,800	318,100	170,000	281,600	1,211,400	23,600	44,100	6,700	226,700	42,000	63,400	209,500	105,000	0	0	-	-	-	-	-	-	-	-	33,000	0	108,000	148,000	305,000	235,000	448,000	307,000
Repayments of borrowings under revolving credit facility
619,500	560,000	1,019,500	802,500	12,500	4,800	207,500	304,400	170,000	473,200	1,073,800	7,600	6,100	6,700	226,700	42,000	63,400	209,500	105,000	0	0	-	-	-	-	-	-	-	-	33,000	0	108,000	148,000	310,100	390,000	464,700	318,400
Repayments of Secured Debt
-	-	-	-	-	3,400	10,700	3,800	3,700	3,700	3,700	3,800	3,700	3,600	3,600	6,700	6,700	6,700	18,400	3,800	3,900	3,800	3,900	3,800	3,900	3,900	3,800	3,400	40,000	0	0	0	201,000	0	0	0	132,000
Proceeds from issuance of long-term debt
-	-	-	-	-	-	-	-	-	0	0	0	2,083,000	0	1,483,000	0	0	0	0	0	525,000	575,000	600,000	0	0	-	-	-	-	0	0	0	135,700	0	0	1,175,000	0
Payments to extinguish long-term debt
-	-	-	-	-	-	-	-	-	0	0	0	2,121,300	0	1,490,400	0	0	0	0	0	525,300	575,100	600,100	44,300	79,500	161,500	533,300	1,299,500	53,100	106,300	0	0	136,900	0	0	1,175,000	0
Payments of debt financing fees
-	-	-	-	-	-	-	-	-	-	0	0	9,600	-	5,900	0	0	0	0	0	6,800	7,500	8,000	6,400	0	-	-	-	-	0	0	200	1,900	0	0	26,200	100
Net change in accounts payable-inventory financing
-81,400	16,100	-53,700	-33,900	70,200	22,700	20,300	-135,300	24,900	-42,600	43,700	50,600	-135,700	104,400	-32,100	137,800	-66,500	73,300	-18,600	83,500	-42,300	32,400	-11,900	61,400	-6,400	31,400	-57,300	29,600	3,700	15,100	-19,100	48,500	-74,000	54,800	105,800	35,200	54,700
Proceeds from stock option exercises
-	-	-	-	-	-	-	-	-	-	1,700	3,000	4,400	-	2,200	2,600	1,200	700	700	500	500	200	300	700	100	0	0	0	0	-	-	-	-	-	-	-	-
Proceeds from Coworker Stock Purchase Plan
-	-	-	-	-	-	-	-	-	-	2,900	2,600	2,100	-	2,400	2,600	1,900	2,200	2,300	2,500	1,700	2,100	1,700	2,000	0	-	-	-	-	-	-	-	-	-	-	-	-
Repurchases of common stock
140,800	163,900	161,100	155,100	177,100	289,800	56,100	67,200	109,200	0	174,600	184,000	175,400	12,400	131,900	105,100	118,000	48,000	101,600	91,700	0	-	-	-	-	100	0	0	100	-	-	-	-	-	-	-	0
Payment of incentive compensation plan withholding taxes
21,900	100	9,700	0	11,600	6,800	18,400	0	8,700	7,600	0	23,700	18,300	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividend payments
54,200	54,500	42,600	42,900	43,400	43,900	31,700	31,800	32,000	32,200	24,400	24,800	25,500	25,600	17,400	17,700	18,000	18,300	11,400	11,500	11,700	11,700	7,300	7,300	7,300	7,300	0	0	0	-	-	-	-	-	-	-	-
Excess tax benefits from equity-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	200	100	100	100	200	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Other
6,800	800	2,000	16,500	5,700	8,700	6,200	17,400	-2,500	13,700	-4,100	-400	-200	26,200	500	-300	-500	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in financing activities
-130,000	-181,300	-263,300	-225,000	-80,200	-319,500	-97,100	-207,000	-131,200	-271,100	-20,900	-164,500	-362,200	66,300	-178,200	13,900	-206,600	3,400	-146,800	-20,400	-62,700	11,700	-29,000	2,300	-97,000	-140,900	16,900	45,200	-89,500	-88,700	-19,200	48,300	-278,400	49,500	-49,200	-6,900	-88,800
Effect of exchange rate changes on cash, cash equivalents and restricted cash
-7,200	4,900	-1,000	-2,500	800	-700	1,300	-5,700	1,700	1,300	-1,300	2,700	-100	-3,200	-1,300	-3,300	400	300	-2,400	300	-1,700	-700	-1,300	700	-500	-100	800	-900	-500	-400	800	-400	300	1,100	-1,500	-100	500
Net increase in cash, cash equivalents and restricted cash
60,400	-12,900	-27,600	-96,200	84,900	-49,300	154,400	-120,300	76,800	46,300	18,900	-172,700	-12,000	145,400	-11,100	-118,800	210,600	-59,900	-238,200	-111,700	102,900	-13,300	130,200	-79,100	118,600	-162,100	170,900	32,200	109,200	-155,100	34,300	122,200	-63,400	74,000	-18,700	-29,100	37,100
Supplementary disclosure of cash flow information:
Interest paid
28,600	29,400	48,800	31,900	44,100	31,400	42,900	31,800	42,700	29,900	41,800	28,400	48,400	26,900	44,400	28,900	44,100	29,200	44,100	28,200	53,100	68,600	27,400	83,700	16,100	98,100	26,800	126,500	16,200	137,100	14,200	135,100	16,300	136,300	18,400	150,500	27,700
Taxes paid, net
9,900	69,200	87,800	103,800	11,400	60,700	82,100	107,800	10,600	106,100	73,100	90,200	6,300	94,700	101,800	125,900	6,800	82,200	94,600	119,100	4,300	51,300	78,000	102,400	9,500	18,200	13,400	49,200	1,700	41,300	43,500	38,100	300	20,900	-6,800	1,400	-36,400