Capella education co (CPLA)
CashFlow / Quarterly
Jun'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
Operating activities
Net Income

11,790

13,847

-7,270

8,754

10,755

11,266

11,426

12,550

9,695

9,298

11,648

8,172

10,331

10,037

12,325

7,757

9,044

8,817

10,016

6,010

10,422

8,755

-

-

-

-

-

-

-

-

-

-

-

-

Income (loss) from discontinued operations, net of tax

0

0

0

0

0

95

-41

2,963

-1,379

-978

-1,045

-630

-867

-900

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income from continuing operations

11,790

13,847

-7,270

8,754

10,755

11,171

11,467

9,587

11,074

10,276

12,693

8,802

11,198

10,937

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

8,649

5,123

11,412

11,107

11,878

9,786

15,379

14,500

17,965

13,478

14,574

15,162

Adjustments to reconcile net income to net cash provided by operating activities:
Provision for bad debts

3,266

2,604

3,459

4,042

2,809

2,416

2,977

2,872

2,888

1,926

3,640

4,430

3,066

3,139

3,603

4,332

3,391

3,509

3,907

4,165

3,339

3,721

5,313

4,954

3,534

3,509

3,821

3,139

1,859

1,746

2,430

2,737

2,085

1,492

Depreciation and amortization

4,793

4,845

4,782

4,824

4,986

5,126

5,592

5,402

5,140

5,209

5,470

5,597

5,536

5,314

4,622

5,960

5,888

6,168

6,160

6,121

6,466

7,130

7,534

7,318

7,182

7,221

6,796

6,319

5,723

5,327

5,010

4,855

4,649

3,998

Amortization of investment discount/premium, net

-245

-292

-277

-278

-384

-471

-521

-495

-557

-556

-591

-568

-574

-560

-524

-502

-489

-328

-228

-232

-192

-116

-102

-115

-204

-271

-3,712

500

556

607

-740

-524

-490

-426

Impairment of property and equipment

916

0

0

0

73

367

38

404

0

0

-

-

-

-

0

0

117

160

0

0

152

77

0

194

0

956

0

35

0

0

-

-

-

1

Loss on disposal of property and equipment

-88

-1

-34

-137

-240

-3

-21

1

-125

-19

-1

-36

-6

-21

8

-7

-6

-64

-6

-7

-39

0

-159

1

27

50

68

-5

2

-35

-

-

-

-

Share-based compensation

2,820

1,751

1,340

1,705

2,205

1,274

988

1,002

1,619

2,813

1,129

1,571

2,157

1,737

1,202

1,169

1,311

1,447

1,339

1,385

1,024

1,582

1,772

1,175

818

1,115

1,692

1,281

1,026

884

1,260

1,072

930

436

Excess tax benefits from share-based compensation

-

-

-

-

-

-

758

30

24

324

17

22

32

368

96

59

318

74

176

68

62

4

5

27

3

34

318

18

31

-119

107

1,272

826

2,046

Deferred income taxes

1,062

938

-3,503

151

1,549

894

736

-4,664

-92

-260

-853

-333

-499

44

214

37

-92

-482

-1,221

-199

397

-440

-2,007

54

-1,365

-266

-2,357

935

3,977

-39

1,375

-132

-146

257

Changes in operating assets and liabilities
Accounts receivable

3,697

3,669

3,210

6,347

2,950

2,244

3,630

4,225

3,246

2,467

3,608

7,022

3,261

1,259

4,890

6,723

2,501

2,049

4,622

5,475

1,527

4,517

3,642

6,183

2,714

2,440

23,242

-7,281

-1,675

-497

-1,092

6,986

2,910

929

Prepaid expenses and other current assets

23

-375

1,959

-702

-2,660

2,366

-1,133

-2,919

3,373

1,149

-32

2,350

2,730

2,114

8,632

435

-123

358

-2,793

1,826

1,040

-1,860

-257

-2,383

3,529

-3,475

9,020

-4,239

-1,618

261

-1,415

2,623

159

268

Accounts payable and accrued liabilities

-2,131

-1,062

-183

2,534

-2,397

-6,168

1,200

1,371

4,408

2,084

-9,955

-546

7,223

804

-3,211

-170

3,965

-4,025

-2,285

674

6,422

-233

-586

-2,601

4,969

-8,078

2,957

-1,144

4,881

-7,306

2,476

-3,709

-573

6,593

Income taxes payable

-662

-414

2,542

1,061

-682

3,901

-6,881

3,129

-453

1,382

748

-1,688

-1,547

-493

2,864

-456

-742

1,347

710

-1,050

-1,910

424

858

-2,398

-5,971

3,205

2,184

-153

-8,872

8,400

5,023

7

-3,622

3,622

Deferred rent

-237

-238

-276

-317

-368

-367

-374

12,665

-236

-236

-225

16

-179

-178

-158

-118

-356

-149

-134

-82

-124

-589

1

29

29

-124

-15

-111

-83

959

113

294

-18

125

Deferred revenue

-154

2,020

-3,618

2,656

-156

2,569

-3,790

3,089

1,687

2,916

-969

1,951

593

-35

-1,110

1,821

-1,054

781

-560

1,738

-377

261

-2,106

2,919

1,177

-108

-414

1,619

337

-1,200

-3,195

1,052

271

-119

Net cash provided by operating activities - continuing operations

18,076

21,290

7,370

20,180

19,108

17,047

9,240

34,015

20,074

22,745

9,573

11,010

22,105

18,109

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) operating activities - discontinued operations

0

0

0

0

0

95

-43

-2,355

274

-750

-43

-260

-751

1,454

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by operating activities

18,076

21,290

7,370

20,180

19,108

17,142

9,197

31,660

20,348

21,995

9,530

10,750

21,354

19,563

17,715

13,624

18,365

15,484

16,161

11,632

23,413

18,143

16,143

13,056

15,770

19,859

24,594

10,699

21,523

23,488

35,598

9,315

14,744

28,750

Investing activities
Capital expenditures

5,369

3,706

4,334

5,647

6,334

5,782

6,205

4,726

4,668

5,309

4,173

4,105

5,035

7,104

4,505

4,974

4,979

5,835

3,927

4,491

4,710

5,600

5,314

6,267

6,117

5,580

9,567

7,058

8,063

4,899

6,237

5,205

9,417

4,622

Proceeds from the sale of property and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

303

0

0

0

0

-

-

-

-

Investment in partnership interests

358

426

-

514

62

292

-

348

957

2,246

-

414

57

0

-

390

0

1,063

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of marketable securities

21,651

12,051

18,243

25,981

14,647

14,809

7,406

9,073

4,230

8,507

7,394

7,000

11,784

6,462

15,351

6,864

7,272

34,821

0

0

15,844

6,582

13,234

653

0

0

0

0

2,000

1,500

22,327

11,622

7,669

18,593

Maturities of marketable securities

24,055

11,800

17,685

12,540

25,455

10,540

5,795

12,010

3,065

10,560

5,995

7,695

9,505

6,980

11,525

6,915

4,175

2,800

250

500

750

6,385

8,895

14,615

12,970

19,065

20,757

13,225

9,700

7,760

3,828

7,150

0

0

Net cash used in investing activities - continuing operations

-3,323

-4,383

-5,811

-19,602

4,412

-10,343

-7,816

-2,120

-38,908

-5,502

-6,035

-3,824

-7,371

-6,586

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) investing activities - discontinued operations

0

0

0

0

0

3,243

1,240

13,866

-43

-31

10

-30

25

-229

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-3,323

-4,383

-5,811

-19,602

4,412

-7,100

-6,576

11,746

-38,951

-5,533

-6,025

-3,854

-7,346

-6,815

-8,622

-5,313

-8,076

-38,919

-3,677

-3,991

-19,804

-5,797

-9,653

7,695

5,277

13,788

11,190

-6,473

-363

1,361

-24,736

-9,677

-17,086

-23,215

Financing activities
Excess tax benefits from share-based compensation

-

-

-

-

-

-

758

30

24

324

17

22

32

368

96

59

318

74

176

68

62

4

5

27

3

34

178

-18

-31

119

107

1,272

826

2,046

Net proceeds (payments) for exercise of stock options

-553

220

-231

0

192

1,081

3,024

788

584

967

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Taxes paid for restricted stock units

4,331

618

-

-

77

828

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net proceeds from exercise of stock options

-

-

-

-

-

-

-

-

-

-

-

147

454

633

1,936

2,025

1,280

358

768

2,160

453

71

51

333

14

230

76

101

201

1,256

667

2,157

1,323

2,695

Payment of dividends

10,060

4,997

4,785

4,814

4,746

4,733

4,498

4,542

4,602

4,612

4,442

4,505

4,533

4,532

4,295

4,302

4,333

4,326

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Repurchases of common stock

-

-

-

-

-

-

3,116

7,505

7,505

7,507

7,506

8,007

6,778

3,715

3,267

4,106

6,723

3,203

4,157

2,671

2,005

132

12,654

13,281

12,548

12,935

26,104

24,454

25,869

26,948

13,318

21,468

5,577

9,412

Net cash used in financing activities

-14,944

-5,395

-7,209

-6,385

-4,631

-4,480

-4,763

-11,229

-11,499

-10,828

-12,698

-12,343

-10,825

-7,246

-5,530

-6,324

-15,403

-7,097

-3,213

-443

-1,490

-57

-12,598

-12,921

-12,531

-12,671

-25,850

-24,371

-25,699

-25,573

-12,544

-18,039

-3,428

-4,671

Effect of foreign exchange rates on cash

-1

-1

0

0

0

2

-1

-14

30

-39

7

6

48

-82

-11

9

14

-10

42

5

-22

-25

34

1

2

-8

23

12

0

0

-

-

-

-

Net increase (decrease) in cash and cash equivalents

-192

11,511

-5,650

-5,807

18,889

5,564

-2,143

32,163

-30,072

5,595

-9,186

-5,441

3,231

5,420

3,552

1,996

-5,100

-30,542

9,313

7,203

2,097

12,264

-6,074

7,831

8,518

20,968

9,957

-20,133

-4,539

-724

-1,682

-18,401

-5,770

864

Supplemental disclosures of cash flow information
Income taxes paid

3,585

4,127

7,041

4,013

3,848

1,714

13,049

7,341

7,586

5,117

7,840

7,344

8,898

7,089

4,734

5,788

7,197

5,342

7,203

5,513

8,527

6,243

7,498

5,435

14,178

3,836

4,180

8,115

13,893

152

4,504

8,441

11,947

4,671

Non-cash investing and financing activities:
Purchase of equipment included in accounts payable and accrued liabilities

-783

1,311

-230

-132

-361

1,102

261

181

-328

670

472

-196

42

536

374

-1,563

1,677

311

409

159

-3

210

39

-5

-196

634

-929

328

544

405

-

-

-

-

Repurchases of common stock included in accrued liabilities

-

-

-

-

-

-

-

-

-

-

-

-

308

191

-

241

-318

318

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of equipment included in accounts payable and accrued liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,168