CENTRAL GARDEN & PET CO CENTA Cash Flow

Central garden & pet co (CENTA)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Sep'18	Jun'18	Mar'18	Dec'17	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	Dec'10
Cash flows from operating activities:
Net income
43,142	-4,539	1,945	46,341	42,722	1,639	-	10,367	41,537	45,766	26,450	26,450	3,803	32,889	35,249	7,789	-5,893	26,666	33,435	-8,623	-4,395	19,123	23,980	-5,693	-4,190	5,334	21,489	-12,812	-22,919	14,406	22,960	-15,347	-10,409	23,822	21,967	-13,267	-11,526	17,225	32,361	-9,678
Adjustments to reconcile net income to net cash used by operating activities:
Depreciation and amortization
13,176	13,140	13,517	13,082	11,877	12,352	-	12,327	12,587	11,122	11,163	11,163	11,345	11,030	10,335	10,009	10,715	11,084	9,170	9,032	8,627	8,262	8,350	8,464	9,098	9,171	9,192	8,320	8,810	7,811	8,331	8,016	7,349	8,024	7,608	7,444	7,250	7,106	7,165	7,045
Amortization of deferred financing costs
475	446	458	458	458	458	-	458	457	456	377	377	340	340	340	341	340	391	356	417	-9	481	1,000	524	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash lease expense
8,681	8,513	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Stock-based compensation
4,271	4,152	4,256	4,537	3,075	2,832	-	3,033	3,031	2,856	2,680	2,680	2,911	2,910	2,592	2,687	2,287	2,491	1,360	2,218	2,345	2,286	2,092	1,592	1,313	1,787	2,798	1,780	3,401	4,717	6,198	1,576	2,168	1,678	1,798	1,866	1,727	2,252	1,848	1,620
Excess tax benefits from stock-based awards
-	-	-	-	-	-	-	-	-	-	0	-	2,741	4,039	8,810	4,356	2,143	3,545	281	900	1,469	334	311	40	76	101	150	171	43	56	215	74	943	739	125	74	154	379	297	115
Deferred income taxes
3,076	1,890	-3,216	3,831	2,714	3,330	-	8,614	1,316	1,002	-15,765	-15,765	369	3,890	3,003	3,527	-9,116	4,789	3,519	3,997	9,150	1,949	1,967	2,500	-1,872	2,356	2,703	2,361	-12,485	3,100	3,332	2,820	2,294	3,499	3,569	5,049	10,430	6,302	9,001	-444
Unrealized losses on derivative financial instruments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	169	46	-627	84	0	4	-5	-	-	-	-
Gain on sale of property and equipment
1	8	58	-74	58	-42	-	-18	7	-7	18	18	2,146	-56	-135	95	3,332	-780	-22	14	662	-547	-71	-44	-	-	-	-	0	417	-268	-149	-282	104	15	-17	-114	-24	-21	49
Write-off of deferred financing costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	3,337	0	0	537	0	0	0	0	1,731	0	0	0	0	-	-	-	-	-	-	-	-
Gain on sale of facility
-	-	-	-	-	-	-	-	-	-	0	-	-	0	0	2,050	-	2,544	0	0	-	-	-	-	-	-	-51	-23	-	-	-	-	-	-	-	-	-	-	-	-
Other
-857	-474	289	-429	218	492	-	892	252	-2,164	-820	-820	-2,758	-156	-287	-798	-797	-165	-25	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in assets and liabilities (excluding businesses acquired):
Accounts receivable
192,972	-32,173	-95,260	-66,158	185,511	-25,578	-	-72,867	-53,104	157,534	-2,822	-2,822	-41,815	-65,085	150,909	-11,590	-40,680	-98,435	145,407	-33,736	-20,375	-99,155	179,273	-50,650	-20,054	-111,404	180,058	-51,255	-49,425	-78,825	171,720	-51,655	-43,477	-63,440	169,953	-56,195	-61,459	-69,621	183,959	-52,916
Inventories
-38,856	89,327	-154	-55,780	-6,506	66,136	-	231	-43,109	-287	58,252	58,252	-1,462	-46,428	-3,903	67,678	591	-29,292	-25,881	61,101	-18,194	-42,949	-17,128	73,868	-38,342	-41,943	-24,753	35,340	-21,484	-22,900	38,608	67,473	-5,025	-45,871	14,930	36,130	-13,965	-38,100	27,917	55,831
Prepaid expenses and other assets
-2,014	8,065	2,404	-2,533	-8,933	11,705	-	-10,487	4,017	8,021	2,252	2,252	8,929	-4,855	-8,157	1,238	-408	-4,744	-8,670	6,921	-499	-3,494	-7,304	15,622	3,701	-3,119	-14,149	13,743	-2,773	-5,951	-9,071	15,171	-638	-4,205	-16,200	13,494	15,175	-4,890	-10,230	3,284
Accounts payable
2,157	35,700	10,745	-21,604	8,477	32,855	-	-50	-41,825	17,653	23,059	23,059	-5,044	-35,140	6,178	31,863	5,234	-35,442	4,011	23,404	-6,451	-49,780	11,384	40,090	-1,634	-53,021	21,382	16,952	-8,321	-53,949	34,779	3,625	2,037	-24,885	27,940	4,713	1,868	-48,861	43,528	10,869
Accrued expenses
11,225	-4,422	-11,007	2,450	15,151	5,667	-	-20,312	2,064	14,698	-16,546	-16,546	24,389	10,127	6,922	-6,420	-3,578	5,264	8,926	622	-24,248	26,978	-8,369	7,124	-5,155	8,434	-4,809	9,972	-16,405	13,467	-8,306	3,463	-27,004	31,802	8,757	-8,600	-17,480	8,224	-2,328	1,628
Other long-term obligations
-92	115	2,117	-1,946	-245	380	-	-611	616	-201	1,249	1,249	-801	303	-311	-80	2,961	-2,144	-49	315	940	8	-182	87	-386	-49	-1,552	-319	1,480	-292	-167	-1,907	185	987	263	-245	-24	214	-572	21
Operating lease liabilities
9,501	8,264	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used by operating activities
-74,636	-18,022	112,170	172,123	-86,119	6,800	-	96,350	111,720	-69,745	-24,213	-24,213	71,661	138,890	-82,929	-13,313	61,843	140,426	-50,362	-481	30,852	155,118	-114,373	15,852	57,616	128,894	-90,052	30,009	37,176	96,706	-134,123	-28,041	25,015	157,600	-96,925	3,479	52,511	104,718	-110,919	4,698
Cash flows from investing activities:
Additions to plant, property and equipment
9,610	9,877	10,689	6,586	6,464	7,838	-	10,842	9,437	9,380	8,186	8,186	7,572	10,293	13,826	12,968	8,136	6,691	7,539	5,256	3,870	7,135	6,956	4,069	3,466	3,683	4,647	5,377	5,638	3,370	8,139	8,025	12,662	9,962	7,783	9,185	11,372	6,378	8,504	5,309
Businesses acquired, net of cash acquired
-	-	-	-	-	-	-	4,467	23,405	63,372	0	-	-2,941	46,779	0	60,042	100	0	372	68,529	22,384	0	16,000	0	-	-	-	-	0	0	0	4,835	0	0	0	0	875	230	23,173	1,029
Proceeds from the sale of business, facility and other assets
-	-	-	-	-	-	-	-	-	-	0	-	-	33	308	7,960	-	3,899	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in restricted cash and cash equivalents.
-	-	-	-	-	-	-	-	-	-	-226	-	-	11	7	71	-1,118	82	7	-1,218	567	7	-7,107	5,407	14,283	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Investments
4,015	424	252	9	250	1,499	-	1,000	1,493	0	6,555	6,555	1,000	9,495	0	2,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from short-term investments.
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	14,220	0	0	3,600	0	0	0	4,885	-4,885	0	0	0	-	-	-	-
Investment in short-term investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	5	12	10,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Other investing activities
362	75	312	835	318	50	-	90	475	980	1,200	1,200	1,620	1,340	1,130	265	180	50	300	200	57	158	331	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities
-13,987	-10,376	-11,256	-37,451	-18,169	-9,387	-	-16,399	-34,810	-73,732	-15,715	-15,941	-12,916	-67,885	-14,655	-67,386	-7,286	-2,924	-8,218	-72,767	-26,878	-7,300	-6,188	-9,488	-9,983	-18,774	-4,647	-1,777	-5,638	-3,370	-8,139	-7,975	-17,547	-9,962	-7,783	-9,185	-11,614	-6,608	-31,677	-6,338
Cash flows from financing activities:
Repayments on revolving line of credit
-	-	-	-	-	-	-	0	0	0	23,000	23,000	136,000	301,000	114,000	1,000	0	241,000	141,000	37,000	0	241,000	71,000	0	0	185,000	48,000	68,000	147,000	179,000	39,000	3,000	0	167,000	80,000	92,000	125,000	422,000	121,000	0
Borrowings on revolving line of credit
-	-	-	-	-	-	-	0	0	0	23,000	23,000	96,000	240,000	215,000	1,000	0	139,000	201,000	79,000	0	126,000	186,000	0	0	90,000	143,000	45,000	110,000	95,000	182,000	4,000	0	50,000	137,000	117,000	110,000	355,000	238,000	0
Repayments of long-term debt
28	31	31	9,696	36,432	34	-	36	35	353	7	7	7	7	375	74	77	85	73	400,072	73	75	50,069	72	85	79	127	76	75	87	86	84	87	89	86	91	114	89	54	78
Issuance of long-term debt
-	-	-	-	-	-	-	0	0	0	300,000	300,000	0	0	0	0	0	0	0	400,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of common stock, net of offering costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,948	928	1,032	188	571	133	261	200	53	85	378	97	838	895	204	192	239	795	309	332
Excess tax benefits from stock-based awards
-	-	-	-	-	-	-	-	-	-	0	-	2,741	4,039	8,810	4,356	2,143	3,545	281	900	1,469	334	311	40	76	101	150	171	43	56	215	74	943	739	125	74	154	379	297	115
Payment of deferred financing costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-
Repurchase of common stock, including shares surrendered for tax withholding
24,972	23,054	45,178	14,057	3,192	547	-	855	4,469	5,705	2,768	2,768	1,902	5,482	12,259	7,913	1,444	7,707	555	1,167	-524	1,857	13,422	3,742	1,142	266	523	401	106	171	2,127	327	1,678	1,462	423	21,266	25,125	31,093	39,228	13,281
Payment of contingent consideration liability
13	77	-	38	12	54	-	-	81	30	93	93	-	328	34	860	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Distribution to noncontrolling interest
-	-	-	-	-	-	-	0	0	0	1,597	1,597	0	0	1	1,018	0	0	0	592	0	0	0	1,680	0	0	0	633	0	0	0	629	0	0	0	0	0	0	0	1,500
Payment of financing costs
90	869	1,352	0	0	0	-	0	5	207	4,558	4,558	0	0	0	0	0	1,198	38	6,324	258	0	0	0	0	3	102	2,985	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used by financing activities
-25,160	-24,031	-46,639	-23,855	-39,636	-635	-	194,691	-4,590	-6,295	290,977	290,977	-39,246	-62,778	97,141	-5,509	-1,360	-107,165	59,615	34,745	-286	-115,670	52,852	-5,266	-580	-95,114	94,659	-26,724	-37,085	-84,117	141,380	131	40	-117,120	104,596	3,909	-39,867	-98,042	78,324	-14,412
Effect of exchange rate changes on cash and cash equivalents
-444	531	-130	-100	105	-125	-	-3	-167	100	-	20	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net decrease in cash, cash equivalents and restricted cash
-114,227	-51,898	54,145	110,717	-143,819	-3,347	-	274,639	72,153	-149,672	-	250,843	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Effect of exchange rate changes on cash and equivalents
-	-	-	-	-	-	-	-	-	-	20	-	-	77	31	-193	-215	-163	-215	-75	55	-250	64	-186	-223	92	77	47	221	-21	-425	1	268	-100	104	55	-232	-21	141	-91
Net increase (decrease) in cash and cash equivalents
-	-	-	-	-	-	-	-	-	-	251,069	-	-	8,304	-412	-86,401	52,982	30,174	820	-38,578	3,743	31,898	-67,645	912	46,830	15,098	37	1,555	-5,326	9,198	-1,307	-35,884	7,776	30,418	-8	-1,742	798	47	-64,131	-16,143
Supplemental information:
Cash paid for interest
8,520	12,944	8,425	12,979	8,381	12,917	-	10,367	12,900	640	12,757	12,757	803	13,463	578	13,034	555	13,659	937	17,844	17,385	1,022	20,600	848	19,482	1,263	17,806	2,998	20,066	2,230	19,663	1,001	19,674	1,624	18,422	1,210	17,971	1,800	17,268	897
Cash paid for income taxes – net of refunds
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,063	-	-	-	46	-	-	-	-6,326	-	-	-	46
Capital expenditures incurred but not paid
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	938	-	-	-	1,494	-	-	-	1,211	-	-	-	1,116
Repurchased shares settled but not paid
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,879