Chemed corporation (CHE)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10Mar'10
Cash Flows from Operating Activities
Net income

55,891

65,580

58,947

50,729

44,667

54,328

51,249

54,971

44,996

54,552

35,437

-21,656

29,844

32,189

26,829

24,885

24,840

29,929

28,833

26,975

24,537

29,795

24,585

24,363

20,574

22,909

17,432

14,608

22,278

26,740

20,845

21,274

20,445

25,705

21,887

20,286

18,101

22,630

20,988

18,855

19,358

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization

13,865

14,095

10,588

10,293

10,229

10,125

9,692

9,752

9,294

8,969

8,852

8,865

8,939

8,745

8,705

8,672

8,516

8,903

8,221

8,216

8,159

6,269

8,167

8,007

8,158

5,179

8,161

8,080

7,922

7,968

7,692

7,507

7,354

7,297

7,447

7,497

7,258

7,288

7,581

7,481

6,693

Stock option expense

5,045

4,102

2,711

3,929

4,089

3,251

2,055

3,652

3,653

2,747

1,683

3,054

3,001

2,071

1,419

2,277

2,563

1,845

813

1,343

1,444

1,372

977

1,144

1,309

1,310

1,629

1,612

1,491

1,421

2,397

2,374

1,938

1,473

2,408

2,562

1,933

1,397

1,968

2,346

2,051

Provision/(benefit) for deferred income taxes

2,290

3,315

-3,316

720

-3,489

6,531

-3,517

4,980

-2,807

38,582

-1,299

-32,461

-2,415

-1,177

-1,286

-42

-4,202

9,019

89

-49

-2,734

1,348

-550

-661

6,841

4,693

-6,306

-4,694

-681

3,657

-1,913

-1,498

-3,397

8,850

-1,590

-832

814

1,477

-1,522

-82

-2,282

Noncash long-term incentive compensation

1,598

1,556

1,678

1,387

1,119

1,229

1,234

1,221

1,721

886

1,105

956

827

464

641

501

-305

2,889

1,364

1,457

934

581

1,002

613

373

140

55

494

612

-

-

-

-

0

0

0

2,595

-

-

-

-

Amortization of restricted stock awards

-

-

-

-

-

0

0

155

291

298

295

302

336

440

441

435

539

619

591

448

449

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Provision for bad debts

594

-

-

-

-

-

-

-

-

4,353

4,703

4,001

4,249

4,187

4,008

3,882

4,242

3,147

3,366

3,930

3,804

3,600

3,124

3,145

3,304

2,696

2,779

2,465

2,967

1,808

2,573

2,485

2,245

1,923

2,275

2,254

2,111

1,830

2,385

2,391

2,472

Amortization of debt issuance costs

76

77

76

77

76

80

73

160

128

129

129

129

129

129

130

130

130

131

130

131

131

129

133

227

337

330

324

317

780

-

-

-

-

-

-

-

-

-

-

-

-

Litigation settlement

-

0

0

0

6,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of discount on convertible notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

1,131

2,261

2,224

2,186

2,150

2,114

2,078

2,043

2,010

1,975

1,943

1,909

1,878

1,846

1,816

1,784

1,755

1,726

Changes in operating assets and liabilities:
Decrease/(increase) in accounts receivable

-6,269

29,805

-27,171

16,532

81

10,207

-10,694

7,648

-1,591

26,462

-21,730

12,168

-17,972

50,203

-8,900

-40,211

41,050

-14,242

7,928

-22,744

24,926

-4,242

43,245

-20,918

27,700

14,302

6,452

-48,451

36,706

-5,988

21,866

-26,406

34,949

-32,887

-3,280

27,194

-17,923

9,128

6,359

16,724

36,445

Decrease/(increase) in inventories

-149

108

1,018

21

610

-78

67

422

-60

-324

40

185

-322

-346

-19

18

-212

-231

295

80

-2

-217

-471

180

-27

-26

573

-403

-499

-581

-507

-322

-200

-220

206

715

239

-257

-27

369

66

Decrease in prepaid expenses

-1,211

-3,345

4,535

2,307

-6

1,147

1,405

1,158

-1,045

414

1,000

2,576

-1,003

-1,393

-959

3,151

-546

1,358

-575

1,940

-1,433

-1,964

-7,699

2,189

1,112

134

4,166

925

1,092

1,592

-882

1,161

-1,833

1,378

-313

806

-747

131

-498

537

-502

(Decrease)/increase in accounts payable and other current liabilities

-7,037

-205

32,797

-4,523

348

-3,247

27,091

-6,998

-7,911

10,442

9,379

3,835

-10,766

6,362

-592

2,688

-7,567

-4,940

7,270

7,684

-9,538

3,376

3,904

-1,023

-32,561

-9,107

34,246

15,419

-698

500

8,047

301

-3,894

-4,051

9,257

5,534

-12,137

1,331

9,444

3,416

-381

Change in current income taxes

10,159

242

2,168

-11,468

9,219

-4,960

13,722

-3,506

13,642

-38,536

9,450

-11,673

14,655

5,299

5,478

-16,339

19,448

-2,705

5,433

-14,080

11,696

3,093

962

1,902

5,322

-4,384

2,332

-10,548

10,139

4,728

2,321

-16,561

15,532

-9,545

8,515

-6,001

9,739

-1,904

-173

-7,053

13,955

Net change in lease assets and liabilities

153

-

-

-

328

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Decrease/(increase) in other assets

-5,048

3,818

3,492

-353

5,006

-3,897

3,774

1,404

4,263

2,092

2,086

2,012

2,140

-470

2,058

4,046

-410

-558

-1,624

-586

2,815

1,631

390

1,679

1,069

1,505

88

1,843

3,071

1,259

1,661

-1,371

3,654

198

-1,841

1,985

3,667

2,218

245

263

1,672

(Decrease)/increase in other liabilities

-6,067

3,309

3,212

-626

6,459

-3,739

2,301

1,131

3,758

2,515

2,292

1,762

1,992

270

2,690

4,285

-140

796

-2,442

397

2,569

3,114

726

1,564

3,080

2,735

-423

1,119

3,282

1,681

2,155

-748

5,241

981

-947

1,287

3,227

2,039

1,022

214

2,724

Excess tax benefit on stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

4,221

1,591

483

900

5,568

4,476

1,098

2,900

1,435

1,871

467

1,399

1,475

29

587

1,891

721

1,645

272

797

486

29

1,444

1,895

1,534

21

667

1,135

Other sources

388

122

440

-50

887

311

224

191

-5

-53

35

599

838

276

213

50

-59

678

278

60

129

1,795

-202

-144

-409

-128

-85

-4

-196

-168

635

-464

-309

351

-449

-265

-185

363

-336

-283

-151

Net cash provided by operating activities

89,326

63,604

128,738

35,322

73,585

56,530

109,572

55,843

65,193

-28,494

90,665

31,538

68,786

7,040

54,905

66,225

7,223

58,416

43,446

57,264

12,374

59,270

5,896

56,959

-11,846

14,989

51,192

76,525

8,141

54,431

22,682

44,274

10,381

66,407

56,809

2,586

48,541

28,022

37,713

12,626

7,651

Cash Flows from Investing Activities
Capital expenditures

19,897

13,269

11,441

14,446

13,866

16,318

12,682

11,224

12,648

14,053

22,114

19,113

9,020

10,064

9,725

8,510

11,473

13,941

11,348

10,293

8,553

11,826

12,291

11,323

8,131

10,437

6,687

6,794

5,406

8,763

8,015

6,456

12,018

6,133

8,499

8,787

6,173

6,532

7,165

6,518

5,424

Business combinations

1,452

-

-

-

-

40,302

11,000

425

1,450

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

250

-

-

-

-

0

4,400

1,085

415

-

-

-

-

-

-

-

-

Proceeds from sales of property and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

27

Other uses

144

-171

-238

69

68

-344

53

-352

-181

-1,301

-29

-157

70

-24

328

-61

-153

-36

-1

-44

-351

-105

3

-163

-29

-96

-38

-23

-78

60

-171

-46

-311

29

-40

760

109

144

251

40

157

Net cash used by investing activities

-21,493

-13,098

-149,213

-14,515

-13,934

-56,276

-23,735

-11,297

-13,917

-16,952

-22,085

-19,481

-9,090

-10,040

-10,053

-8,449

-11,320

-13,905

-11,347

-16,863

-8,202

-11,721

-12,294

-11,160

-8,352

-10,388

-7,358

-8,272

-5,328

-8,823

-12,244

-7,495

-12,122

-6,137

-8,459

-13,236

-6,282

-16,115

-7,416

-6,615

-5,554

Cash Flows from Financing Activities
Proceeds from revolving line of credit

174,100

82,200

177,900

97,700

125,100

41,400

69,800

224,050

134,300

28,650

47,900

19,800

116,000

16,850

17,800

33,400

59,000

0

0

66,000

37,200

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on revolving line of credit

104,100

122,200

132,900

112,700

114,300

82,200

43,200

190,650

90,500

7,450

87,900

39,800

76,000

16,850

52,800

28,900

3,500

45,000

20,000

66,000

22,200

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of treasury stock

100,235

20,705

0

22,676

49,250

36,908

37,672

3,179

81,125

0

9,577

30,801

54,262

0

7,976

41,877

52,460

-

-

-

-

10,916

40,610

25,511

32,982

-

-

-

-

-

-

-

-

-

-

-

-

99,155

26

7,633

2,516

Change in cash overdrafts payable

-9,849

3,608

-9,245

15,013

-13,303

13,776

-14,596

5,960

-6,671

14,839

-7,049

7,517

-8,607

-2,828

7,532

-12,501

7,061

568

5,046

-5,263

-1,528

-12,519

22,712

-848

369

-487

680

-8,443

-3,165

5,223

-4,284

759

226

-3,123

10,111

496

-8,310

-397

1,130

-98

-1,216

Proceeds from exercise of stock options

9,241

10,997

6,866

4,690

11,827

9,333

2,870

11,286

8,923

15,467

1,227

4,763

5,635

3,796

1,092

646

2,887

4,231

3,149

3,145

4,899

1,787

6,031

2,899

13,193

3,997

567

2,390

10,168

1,827

6,813

2,628

1,042

57

281

4,051

3,647

1,695

157

803

2,672

Capital stock surrendered to pay taxes on stock-based compensation

7,951

2,366

11,224

3,714

11,170

2,785

3,741

14,645

6,377

6,586

1,921

972

4,744

1,721

1,888

1,143

4,020

4,508

5,350

412

5,464

1,403

2,578

627

2,916

1,068

11

880

3,389

862

1,591

214

1,431

-106,372

84,806

1,222

24,260

-

-

-

-

Dividends paid

5,130

5,131

5,090

4,768

4,799

4,812

4,834

4,483

4,533

4,492

4,483

4,145

4,251

4,224

4,176

3,958

4,081

4,063

4,083

3,716

3,743

3,697

3,801

3,454

3,303

3,689

3,684

3,408

3,367

3,385

3,481

3,088

3,072

3,145

3,426

2,990

2,977

3,199

3,201

2,742

2,739

Payments on other long-term debt

-

-

-

-

-

0

0

72,500

2,500

2,500

2,500

1,875

1,875

1,875

1,875

1,875

1,875

1,875

1,875

1,250

1,250

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Debt issuance costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

4

-3

1,107

-

-

-

-

-66

0

15

2,708

-

-

-

-

Excess tax benefit on stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

4,221

1,591

483

900

5,568

4,476

1,098

2,900

1,435

1,871

467

1,399

1,475

29

587

1,891

721

1,645

272

797

486

29

1,444

1,895

1,534

21

667

1,135

Other (uses)/sources

-1,116

183

-89

203

181

-619

344

-435

-228

-232

841

160

147

-344

-341

188

693

-514

-797

129

-783

-638

-128

249

-501

-315

-91

37

-419

3

376

-246

312

-274

-138

82

282

75

-1

-47

270

Net cash used by financing activities

-45,040

-53,414

26,218

-26,252

-55,714

-62,882

-31,046

-45,564

-48,711

37,696

-63,462

-45,353

-27,957

-2,975

-41,041

-55,537

4,605

-68,234

-26,354

-36,031

10,031

-51,979

-2,953

-57,365

-24,741

-3,387

-73,677

-28,162

612

-45,373

-1,108

-11,027

-2,126

-43,531

-77,949

1,846

-32,431

-99,447

-1,920

-9,050

-2,394

Increase in Cash and Cash Equivalents

22,793

-2,908

5,743

-5,445

3,937

-62,628

54,791

-1,018

2,565

-7,750

5,118

-33,296

31,739

-5,975

3,811

2,239

508

-23,723

5,745

4,370

14,203

-4,430

-9,351

-11,566

-44,939

1,214

-29,843

40,091

3,425

235

9,330

25,752

-3,867

16,739

-29,599

-8,804

9,828

-87,540

28,377

-3,039

-297