| Mar'19 | Mar'18 | Apr'17 | Mar'16 | Mar'15 | Mar'14 | Mar'13 | Mar'12 | Mar'11 | Mar'10 |
|---|---|---|---|---|---|---|---|---|---|
Net income | |||||||||
542,000 | 592,000 | 552,000 | 837,700 | 881,000 | 661,500 | 397,602 | 147,364 | 72,506 | 39,248 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||
Depreciation and amortization | |||||||||
225,000 | 208,000 | 220,000 | 183,200 | 138,400 | 79,700 | 54,291 | 37,554 | 25,543 | 18,843 |
Equity compensation expense | |||||||||
60,000 | 50,000 | 34,000 | 48,400 | 48,900 | 29,100 | 20,932 | 27,020 | - | - |
Losses on store lease exits | |||||||||
-18,000 | -29,000 | 0 | 0 | - | - | - | - | - | - |
Deferred income taxes | |||||||||
-71,000 | 9,000 | -60,000 | -1,900 | 6,200 | -29,900 | 3,222 | -7,729 | 12,443 | 11,024 |
Impairment of long-lived assets | |||||||||
21,000 | 33,000 | 199,000 | 10,900 | 800 | 1,300 | 725 | 3,292 | 3,834 | - |
Tax deficit (benefit) on exercise of share options | |||||||||
24,000 | 7,000 | 7,000 | 21,100 | 45,300 | 54,700 | 144,508 | 32,281 | - | - |
Loss on disposal of fixed assets | |||||||||
- | - | - | -2,800 | -1,900 | -3,800 | -229 | - | - | - |
Amortization of deferred financing costs | |||||||||
4,000 | 4,000 | 1,000 | 900 | 700 | 700 | 703 | 498 | 225 | 229 |
Non-cash litigation related costs | |||||||||
- | - | - | - | 5,700 | 2,000 | 0 | - | - | - |
Amortization of deferred rent | |||||||||
- | - | - | 2,600 | 5,100 | 6,300 | 3,245 | 4,214 | 3,020 | -1,402 |
Impairment and write-off of property and equipment | |||||||||
- | - | - | - | - | - | - | - | - | -42 |
Foreign currency losses | |||||||||
-80,000 | 13,000 | -3,000 | -4,800 | 1,500 | -100 | -1,363 | - | -1,786 | 1,965 |
Gain on acquisition of MK Korea | |||||||||
- | - | - | 3,700 | 0 | 0 | - | - | - | - |
Other non-cash charges | |||||||||
-4,000 | 0 | -12,000 | -2,900 | - | - | 258 | 1,442 | - | - |
Unrealized foreign exchange loss | |||||||||
- | - | - | - | - | - | - | 2,629 | - | - |
Loss (income) earned on joint venture | |||||||||
- | - | - | - | 100 | 400 | 0 | - | - | - |
Change in assets and liabilities: | |||||||||
Receivables, net | |||||||||
23,000 | -19,000 | -60,000 | -52,500 | 83,300 | 104,400 | 73,080 | 48,399 | 14,071 | 35,350 |
Inventories, net | |||||||||
125,000 | -46,000 | -21,000 | 16,300 | 112,400 | 158,200 | 81,108 | 71,151 | 50,465 | 13,390 |
Prepaid expenses and other current assets | |||||||||
31,000 | -49,000 | 1,000 | 5,300 | 20,100 | 5,200 | 3,866 | 12,647 | 8,990 | 4,721 |
Other assets | |||||||||
- | - | - | 400 | 6,300 | 4,300 | -6 | 2,284 | 664 | 1,363 |
Accounts payable | |||||||||
-48,000 | -21,000 | 37,000 | 14,200 | -8,600 | 53,700 | 17,698 | 14,888 | 18,043 | 4,612 |
Accrued expenses and other current liabilities | |||||||||
20,000 | 56,000 | -54,000 | 125,600 | 36,300 | 126,500 | 151,231 | 46,419 | 37,405 | 5,149 |
Other long-term assets and liabilities | |||||||||
42,000 | 8,000 | 18,000 | 11,700 | 10,500 | 25,400 | 14,894 | 9,719 | 9,693 | 4,832 |
Net cash provided by operating activities | |||||||||
694,000 | 1,062,000 | 1,035,000 | 1,249,500 | 857,900 | 633,000 | 363,837 | 115,290 | 110,308 | 28,592 |
Cash flows from investing activities | |||||||||
Capital expenditures | |||||||||
181,000 | 120,000 | 165,000 | 369,200 | 356,200 | 184,700 | 121,321 | 88,187 | 57,348 | 30,816 |
Purchase of intangible assets | |||||||||
3,000 | 3,000 | 5,000 | 11,400 | 29,200 | 28,800 | 8,546 | - | 482 | 1,359 |
Investment in joint venture | |||||||||
- | - | - | 1,000 | 3,000 | 0 | 0 | - | - | - |
Cash paid for business acquisitions, net of cash acquired | |||||||||
1,875,000 | 1,415,000 | 481,000 | -500 | 0 | - | - | - | - | - |
Realized (loss) gain on hedge related to acquisitions | |||||||||
77,000 | -5,000 | 0 | 0 | - | - | - | - | - | - |
Settlement of a net investment hedges | |||||||||
11,000 | 0 | 0 | - | - | - | - | - | - | - |
Equity method investments | |||||||||
- | - | - | - | - | 2,000 | 3,232 | - | - | - |
Cash received, net of cash paid for acquired businesses | |||||||||
- | - | - | - | - | 0 | - | - | - | - |
Loans receivable - joint venture | |||||||||
- | - | - | - | - | - | 6,000 | - | - | - |
Net cash used in investing activities | |||||||||
-2,125,000 | -1,533,000 | -651,000 | -381,100 | -388,400 | -215,500 | -139,099 | -88,187 | -57,830 | -32,175 |
Cash flows from financing activities | |||||||||
Debt borrowings | |||||||||
4,204,000 | 2,520,000 | 1,240,000 | 192,600 | 0 | 21,100 | 16,280 | 110,764 | 194,605 | 222,603 |
Debt repayments | |||||||||
2,560,000 | 1,784,000 | 1,093,000 | 199,800 | 0 | 21,100 | 38,954 | 100,855 | 225,820 | 218,063 |
Debt issuance costs | |||||||||
15,000 | 0 | 0 | - | - | - | - | - | - | - |
Purchase of treasury shares | |||||||||
207,000 | 361,000 | 1,005,000 | 1,152,400 | 495,300 | 2,400 | 0 | - | - | - |
Tax benefits on exercise of share options | |||||||||
- | - | - | - | 45,300 | 54,700 | 144,508 | 32,281 | - | - |
Bank overdraft | |||||||||
- | - | - | - | - | - | - | - | -4,380 | -2,903 |
Proceeds from private placement | |||||||||
- | - | - | - | - | - | - | 9,550 | - | - |
Exercise of employee share options | |||||||||
29,000 | 14,000 | 8,000 | 12,700 | 15,300 | 19,000 | 30,435 | 9,672 | - | - |
Distribution to shareholders | |||||||||
- | - | - | - | - | - | - | - | - | 1,862 |
Payment of loan to parent | |||||||||
- | - | - | - | - | - | - | - | 1,850 | - |
Payment of deferred financing costs | |||||||||
- | - | - | 2,400 | 0 | 200 | 1,708 | 2,773 | 281 | - |
Other financing activities | |||||||||
- | - | - | -100 | 0 | 0 | - | - | - | - |
Net cash used in financing activities | |||||||||
1,451,000 | 389,000 | -850,000 | -1,149,400 | -434,700 | 71,100 | 150,561 | 58,639 | -37,726 | 5,581 |
Effect of exchange rate changes on cash and cash equivalents | |||||||||
-11,000 | 15,000 | -6,000 | 4,100 | -27,100 | -4,700 | -1,641 | -453 | 649 | 1,206 |
Net increase in cash and cash equivalents | |||||||||
9,000 | -67,000 | -472,000 | -276,900 | 7,700 | 483,900 | 373,658 | 85,289 | 15,401 | 3,204 |
Supplemental disclosures of cash flow information | |||||||||
Cash paid for interest | |||||||||
45,000 | 11,000 | 4,000 | 1,500 | 700 | 700 | 484 | 1,266 | 1,202 | 1,573 |
Cash paid for income taxes | |||||||||
172,000 | 104,000 | 171,000 | 273,000 | 373,300 | 280,700 | 70,500 | 84,389 | 27,252 | 4,730 |
Supplemental disclosure of non-cash investing and financing activities | |||||||||
Accrued capital expenditures | |||||||||
25,000 | 26,000 | 23,000 | 33,600 | 32,900 | 16,300 | 12,289 | 6,869 | 3,538 | 2,519 |