Pc connection inc (CNXN)
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'11
Cash Flows provided by Operating Activities:
Net income

14,896

21,966

23,750

23,668

12,727

21,300

13,766

18,226

11,300

20,723

13,117

13,585

7,432

12,997

13,593

12,458

9,063

13,613

13,001

11,629

8,584

11,944

12,177

11,429

7,131

9,841

10,589

9,154

6,098

8,869

9,901

8,826

5,475

7,427

9,386

7,480

4,494

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

3,147

3,130

3,107

3,368

3,709

3,701

3,633

3,429

3,300

3,194

2,935

2,855

2,855

2,949

2,701

2,387

2,416

2,364

2,227

2,178

2,192

2,094

2,135

1,786

2,077

2,078

1,674

1,710

1,627

2,044

1,670

1,623

1,558

1,576

1,486

1,545

1,344

Provision for doubtful accounts

2,833

-156

527

-602

256

252

734

277

417

542

503

68

545

-615

330

748

-103

-6

385

-15

733

557

461

237

128

351

163

362

202

108

763

591

99

1,003

646

705

414

Stock-based compensation expense

624

604

426

564

269

343

272

258

207

181

175

202

183

810

108

-158

289

274

257

225

238

227

216

327

159

205

452

153

148

118

157

172

1,047

126

257

236

205

Deferred income taxes

-

-

-

-

-

1,059

0

0

429

-4,070

0

126

38

3,341

138

-7

34

2,596

-5

-6

67

1,162

-7

-7

64

4,704

-16

1

-111

-849

-366

-5

1,894

648

856

506

571

Loss on disposal of fixed assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2

-2

0

-5

-2

5

-14

-71

-3

0

-10

-3

Fair value adjustment to contingent consideration

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-10

-

-

-

-

Excess tax benefit from exercise of equity awards

-

-

-

-

-

-

-

-

-

-

-

-

-

128

353

0

32

80

377

36

59

53

469

0

34

32

0

12

216

-

-

-

-

-

-

-

-

Income tax benefit from stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

309

41

155

0

172

35

6

-

-

-

-

Changes in assets and liabilities:
Accounts receivable

-61,477

70,563

-21,478

66,362

-13,494

49,009

-62,429

55,937

-57,389

67,558

-43,270

48,054

-32,885

53,365

-29,900

78,312

-67,942

24,953

-1,328

48,033

-7,443

19,646

-20,928

34,711

-22,070

32,411

-4,979

20,213

-30,826

-2,890

17,337

11,922

-52,686

26,275

29,523

23,956

-23,072

Inventories

12,319

-1,412

-49,826

38,239

18,470

13,912

-2,166

21,867

-10,302

29

-11,502

18,253

9,438

-11,447

-10,512

14,989

-5,431

207

3,998

27,301

-19,643

8,376

-14,646

25,768

-7,722

2,768

-762

17,542

-10,044

4,159

-9,443

12,393

-14,909

4,467

-2,462

7,734

-6,889

Prepaid expenses, income tax receivables and other current assets

3,300

5,178

-229

-151

-3,322

1,857

1,514

395

-2,721

-94

-357

3,564

-1,016

1,780

-1,698

-736

1,928

364

-1,821

-1,215

2,957

-3,931

4,159

260

-2,317

2,848

-503

-310

970

-1,411

-1,355

-1,345

1,839

2,459

-2,466

-32

712

Other non-current assets

98

55

-88

-112

-119

-2,120

-2,280

117

1,880

320

-132

4,099

-22

180

115

-102

128

-121

355

145

-51

-27

53

6

-28

-11

30

-2

-11

-20

26

-12

68

62

-8

61

104

Accounts payable

-15,499

38,127

-61,348

56,060

2,121

35,083

-35,524

48,684

-42,521

28,969

-22,092

15,107

-6,177

17,910

-31,379

62,816

-52,359

5,670

-1,577

45,858

-8,627

15,632

-43,822

43,597

-15,205

-408

437

30,205

-31,605

-2,215

-9,783

26,426

-19,041

-7,603

3,175

24,130

-5,205

Accrued expenses and other liabilities

-7,205

4,219

-1,386

6,383

551

6,506

-8,558

11,716

-4,420

9,209

-11,780

6,844

-3,936

326

-4,353

7,752

-7,156

6,485

-3,876

9,690

-6,093

-998

5,981

450

-2,682

33

-5,392

3,773

2,817

-2,261

-4,266

2,187

-1,646

2,452

-1,799

880

-1,842

Net cash provided by operating activities

44,556

-3,419

36,693

-14,769

18,098

5,586

39,735

4,274

37,244

-9,041

38,119

-35,183

25,425

-6,196

22,780

-6,467

23,469

5,557

8,831

-4,741

21,215

6,515

8,034

-2,926

23,775

-21,751

14,432

7,944

19,031

5,978

-8,346

16,866

55,161

-27,662

-10,506

3,747

29,129

Cash Flows used in Investing Activities:
Purchases of equipment

4,595

5,035

6,744

7,305

6,572

5,597

5,714

4,920

5,007

3,859

3,413

3,044

1,487

3,139

2,964

3,704

2,078

2,268

4,317

3,474

2,278

2,087

2,029

2,027

1,466

2,664

686

2,512

1,745

2,240

1,830

2,357

2,823

2,372

2,363

4,000

2,120

Cash paid for acquisitions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

1,000

3,745

Proceeds from sale of equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3

0

1

9

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-4,595

-5,035

-6,744

-7,305

-6,572

-5,597

-5,714

-4,920

-5,007

-3,859

-3,413

-3,044

-1,487

-12,146

-2,964

-37,687

-2,078

-2,718

-4,317

-3,474

-2,278

-2,084

-2,029

-2,026

-1,457

-2,662

-686

-2,512

-1,745

-2,240

-1,824

-2,353

-2,823

-2,368

-2,363

-5,450

-5,865

Cash Flows used in Financing Activities:
Proceeds from short-term borrowings

-

-

-

-

-

0

0

0

859

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

7,204

-

-

-

-

Repayment of short-term borrowings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

12,471

-

-

-

-

Repayment of capital lease obligation to affiliate

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

187

275

267

260

253

246

239

233

227

220

214

209

Purchase of treasury shares

10,222

115

862

2,207

1,294

10,991

0

1,387

2,997

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6,347

0

-249

1,715

-

-

-

-

Dividend payment

8,427

0

0

0

8,452

-1

1

0

9,122

0

0

0

9,041

0

0

0

10,591

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Issuance of stock under Employee Stock Purchase Plan

-

-

0

622

-13

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from exercise of stock options

-

-

-

-

-

-

-

-

-

71

1

0

1,678

-

-

-

-

58

0

359

20

170

170

0

16

125

68

206

1,380

0

706

152

14

221

52

0

131

Excess tax benefit from exercise of equity awards

-

-

-

-

-

-

-

-

-

-

-

-

-

128

353

0

32

80

377

36

59

53

469

0

34

32

0

12

216

-

-

-

-

-

-

-

-

Payment of payroll taxes on stock-based compensation through shares withheld

49

-

-

-

-

-

-

-

-

-

-

-

-

112

585

0

40

96

521

0

43

45

499

0

34

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in financing activities

-18,698

25

-1,199

-1,657

-9,759

-10,529

-458

-1,641

-11,260

552

-499

603

-7,363

639

-232

473

-10,599

482

-144

830

36

-9,956

140

360

16

-10,221

-784

258

1,336

-17,359

274

-841

-7,201

-5,115

-2,663

-1,565

-78

Increase in cash and cash equivalents

21,263

-8,429

28,750

-23,731

1,767

-10,540

33,563

-2,287

20,977

-12,348

34,207

-37,624

16,575

-17,703

19,584

-43,681

10,792

3,321

4,370

-7,385

18,973

-5,525

6,145

-4,592

22,334

-34,634

12,962

5,690

18,622

-13,621

-9,896

13,672

45,137

-35,145

-15,532

-3,268

23,186

Non-cash Investing and Financing Activities:
Accrued capital expenditures

1,237

-221

-397

94

1,987

1,367

-226

141

1,140

405

-368

371

291

-51

-178

-240

578

-207

256

306

149

-85

-53

-15

358

15

169

-205

356

-135

44

-176

520

-316

292

-1,253

1,707

Issuance of nonvested stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

388

186

740

-

-

-

-

Contingent consideration recorded in accrued expenses and other liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

60

0

-980

2,880

Supplemental Cash Flow Information:
Income taxes paid

369

9,488

7,010

11,671

291

4,811

6,825

7,989

320

4,634

8,588

14,159

1,546

5,787

8,295

8,020

7,638

7,011

6,860

7,682

8,818

2,127

11,159

9,870

1,063

-

-

-

-

-

-

-

-

-

-

-

-