Chefs’ warehouse, inc. (CHEF)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Cash flows from operating activities:
Net Income (Loss) Attributable to Parent

24,193

20,402

14,366

3,023

16,209

14,215

16,990

14,511

7,698

15,874

8,961

Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation, Depletion and Amortization

13,328

10,296

8,516

7,082

5,960

3,113

2,521

2,074

1,442

1,388

1,520

Amortization of Intangible Assets

12,663

11,910

12,033

11,433

9,453

5,130

4,796

1,858

280

-

-

Provision for allowance for doubtful accounts

4,981

3,790

4,061

3,224

2,909

1,195

924

1,434

1,189

1,042

1,477

Non-cash operating lease expense

2,043

770

285

1,568

850

105

-331

-302

290

302

-63

Original issue discount amortization

-

-

-

-

-

-

-

-

2,127

123

-

Deferred taxes

2,063

2,554

-703

2,991

-809

173

970

-83

1,164

-2,470

369

Unrealized gain on interest rate swap

-

-

-

-

-

-

-

-

81

910

658

Unrealized gain on forward contracts

-

-

-

-

-

-

-

-

-

-

0

Accrual of paid in kind interest

-

-

-

-

-

-

-

-

1,825

500

-

Amortization of deferred financing fees

2,168

3,155

2,084

1,807

1,228

876

647

446

721

715

397

Loss on debt extinguishment

-

-

-

-22,310

0

0

-

-

-

-

-

Write-off of deferred financing fees

-

-

-

-

-

-

-

237

2,860

-

-

Stock compensation

4,399

4,094

3,018

2,579

3,539

1,374

1,210

1,547

2,097

-

-

Change in fair value of contingent earn-out liabilities

5,879

1,448

-579

-10,031

558

-1,581

-1,157

0

0

-

-

Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property

-101

-169

-10

69

295

5

-8

-18

-6

-

-

Changes in assets and liabilities, net of acquisitions:
Accounts receivable

13,213

19,466

13,611

2,503

11,055

21,332

5,883

7,739

7,033

5,643

3,054

Inventories

9,439

6,330

11,783

-7,038

6,109

10,809

-395

5,130

3,969

450

-1,584

Prepaid expenses and other current assets

1,813

-120

-4,762

7,168

-1,314

-6,074

9,207

2,060

-245

658

390

Accounts payable, accrued liabilities and accrued compensation

3,775

13,677

10,406

-941

15,351

10,744

-1,212

1,350

6,513

4,988

813

Other assets and liabilities

6,121

1,507

1,368

-2,314

-471

1,830

-199

0

-

-

-

Other assets

-

-

-

1,115

905

1,095

496

374

74

863

11

Receivable from related party

-

-

-

-

-

-

-

-

-

-190

-814

Net cash provided by operating activities

45,007

45,082

31,497

38,914

37,727

9,797

10,638

8,391

16,720

13,524

11,885

Cash flows from investing activities:
Capital expenditures

16,077

19,817

12,311

16,623

21,656

24,206

11,704

3,186

2,081

1,133

1,061

Cash paid for acquisitions, net of cash received

28,077

13,901

30,095

19,742

123,831

-484

77,995

72,521

17,757

3,738

3,766

Proceeds from asset disposals

0

30

0

550

16,187

49

0

0

5

-

-

Net cash used in investing activities

-44,154

-33,688

-42,406

-35,815

-129,300

-23,673

-89,699

-75,707

-19,833

-4,871

-4,827

Cash flows from financing activities:
Excess tax benefits on stock compensation

-

-

-

-

81

110

30

0

0

-

-

Borrowing of debt

-

-

-

-

-

-

-

-

-

97,500

-

Payment of debt, finance lease and other financing obligations

1,894

49,360

12,830

158,880

23,893

7,054

5,271

30,131

93,285

20,400

2,100

Change in restricted cash

-

-

-

-

-

5,578

5,430

-7

0

-

-

Cash paid for Class C shares

-

-

-

-

-

-

-

-

-

173

263

Redemption of Class A shares

-

-

-

-

-

-

-

-

-

68,250

-

Proceeds from the issuance of common stock, net of issuance costs

0

0

34,020

0

0

-

75,037

0

0

-

-

Proceeds from debt issuance

150,000

0

0

-

-

-

-

-

-

-

-

Payments of Financing Costs

5,082

1,502

761

7,782

1,012

841

1,230

1,733

1,297

5,961

-

Proceeds from exercise of stock options

1,541

0

0

-

-

-

-

-

-

-

-

Surrender of shares to pay withholding taxes

1,022

764

500

569

1,092

491

269

346

692

-

-

Distributions to stockholders

-

-

-

-

-

-

-

-

-

1,597

146

Cash paid for contingent earn-out liability

-2,412

-3,000

-500

-6,743

-1,420

0

0

-

-

-394

-660

Net proceeds from IPO

-

-

-

-

-

-

-

-

63,279

-

-

Proceeds from new senior secured loan

-

-

-

-

-

-

-

40,000

30,000

-

-

Proceeds from senior secured notes

-

-

-

315,810

25,000

0

100,000

0

0

-

-

Payment for debt extinguishment

-

-

-

21,219

0

-

-

-

-

-

-

Borrowings under asset-based loan facility

0

47,100

24,000

33,200

209,982

19,100

70,800

248,258

399,877

-325,810

-323,090

Repayments of Lines of Credit

44,184

2,916

24,000

126,582

116,600

19,100

145,800

190,640

394,714

334,085

327,695

Net cash provided by (used in) financing activities

96,947

-10,442

19,429

27,235

91,046

-2,698

98,727

65,401

3,168

-7,550

-7,774

Effect of foreign currency on cash and cash equivalents

23

-46

122

74

-347

-112

230

0

-

-

-

Net change in cash and cash equivalents

97,823

906

8,642

30,408

-874

-16,686

19,896

-1,915

55

1,103

-716

Cash paid for income taxes

-

-

-

-

-

-

-

12,291

2,641

5,789

3,067

Cash paid for interest

-

-

-

-

-

-

-

2,781

7,355

3,536

2,817

Capital lease

-

-

-

-

-

-

-

343

342

-

-

Software financing

-

-

-

-

-

-

-

0

-

-

-

Liabilities assumed with acquisitions

-

-

-

-

-

-

-

0

0

-

-

Accretion of Class A shares

-

-

-

-

-

-

-

-

-

4,123

6,207