COPART, INC. CPRT Cash Flow

Copart, inc. (CPRT)

CashFlow / Quarterly

Jan'20	Oct'19	Jul'19	Apr'19	Jan'19	Oct'18	Jul'18	Apr'18	Jan'18	Oct'17	Jul'17	Apr'17	Jan'17	Oct'16	Jul'16	Apr'16	Jan'16	Oct'15	Jul'15	Apr'15	Jan'15	Oct'14	Jul'14	Apr'14	Jan'14	Oct'13	Jul'13	Apr'13	Jan'13	Oct'12	Jul'12	Apr'12	Jan'12	Oct'11	Jul'11	Apr'11	Jan'11	Oct'10	Jul'10	Apr'10	Jan'10	Oct'09
Net income (Loss), Including Portion Attributable to Noncontrolling Interest
168,707	218,180	153,496	192,741	131,373	114,083	109,741	127,405	103,301	77,560	70,369	90,546	66,066	167,280	84,122	74,624	59,004	52,610	57,412	57,563	52,193	52,615	51,043	40,877	45,345	41,422	41,304	53,236	39,640	45,845	44,896	55,471	40,603	41,149	40,521	50,135	37,896	37,823	36,233	44,389	35,735	35,270
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization, including debt cost
24,393	23,704	21,625	21,222	20,509	21,978	28,362	16,684	17,982	16,012	13,490	13,805	15,326	14,820	13,743	12,606	11,732	11,562	11,314	12,212	11,400	13,967	13,377	12,769	13,076	14,504	14,480	14,797	14,612	12,839	11,851	12,069	12,220	12,027	11,331	11,274	11,367	11,722	11,151	11,013	10,464	10,614
Allowance for doubtful accounts
919	382	-770	245	-32	128	46	83	466	547	729	-568	4	22	-52	-43	238	1,032	-125	-211	-355	113	151	52	534	350	-590	50	184	0	62	-155	458	-557	280	-290	321	-41	10	128	128	176
Equity in losses (earnings) of unconsolidated affiliates
-2,269	-855	-2,271	1,338	330	184	-71	-428	-360	109	-87	-176	-59	-349	-127	-285	-325	-158	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred rent
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	92	119	125
Stock-based compensation
6,141	5,533	5,845	5,650	5,929	6,021	5,982	5,941	5,992	5,306	5,227	5,008	5,520	5,085	5,030	5,034	5,386	5,414	4,864	4,420	4,504	4,366	4,837	6,623	5,772	4,867	4,886	4,751	4,746	5,174	5,449	5,314	5,983	5,045	4,814	5,077	4,480	4,636	4,655	4,417	4,598	4,285
Excess tax benefit from stock-based payment compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,692	745	173	361	1,070	48	1,113	58	12,261	-871	-3,371	-1,922	-1,671	-1,592	-902	-202	-622	-3,968	933	110	-8,609	517	20	2,429
Gain on sale of property and equipment
1,043	272	-680	-137	3,788	102	804	595	-179	-4,460	-309	46	117	-38	-134	82	46	60	183	278	196	261	-235	-47	1,069	674	1,884	-739	21	-204	1,155	-335	-675	-288	-194	4,332	-983	-1,273	-	-	-	18
Deferred income taxes
1,880	4,839	8,584	7,951	7,520	-888	16,734	-2,683	-93	2,759	-1,890	-1,675	1,378	22,088	6,065	-219	764	-870	724	5,958	-1,022	-1,295	1,771	-6,627	-2,972	-3,010	-233	3,614	-3,208	-3,778	-5,874	-2,637	-5,496	-3,572	1,056	279	-3,039	-395	2,786	-2,292	-2,953	-2,053
Changes in operating assets and liabilities:
Accounts receivable
53,102	25,408	-9,112	-16,205	56,855	29,270	-3,026	-42,786	30,243	55,904	2,874	-39,121	45,317	29,472	4,619	-19,089	51,773	16,910	-1,346	-19,145	31,904	9,004	3,709	-29,767	34,222	4,706	55,585	33,901	-48,719	-9,596	-9,602	23,147	-16,405	-13,144	-5,420	-35,311	20,240	7,985	11,632	-19,206	9,430	580
Vehicle pooling costs
4,563	9,358	1,392	-5,192	9,905	10,313	1,763	-4,958	-20	6,568	-1,374	-2,688	3,042	2,935	-864	-138	3,398	1,741	266	-1,500	2,950	-825	2,004	-1,425	2,341	693	5,823	2,128	-4,296	-29	-148	1,022	192	76	-733	23,744	-533	-9,277	592	-3,867	2,926	-861
Inventories
-1,055	-1,710	-1,002	-5,919	8,372	3,268	-2,741	4,175	2,561	-36	-267	6	119	-1,152	-611	1,810	799	511	482	23	673	553	-2,573	-123	443	-1,759	3,884	428	-3,546	1,011	-668	-48	-949	1,447	-1,747	-1,736	1,556	-739	-92	419	-312	-271
Prepaid expenses and other current and non-current assets
-3,105	-4,079	-1,232	711	1,339	-614	405	-1,066	1,375	62	-320	-546	498	-1,392	1,031	-509	-899	1,115	1,411	267	-1,114	-633	961	-727	567	3,699	8,848	652	-2,894	-635	-1,408	1,501	2,434	3,499	4,621	-4,993	7,976	-2,819	-20,447	7,697	2,841	1,013
Operating Lease, Payments, Use
-75	-256	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other assets
-	-	-	-	-	-	-483	-3,907	1,900	2,420	-2,270	384	599	202	-958	-2,758	-1,484	1,036	-2,541	-2,216	-2,782	-2,586	-3,233	-469	-2,425	15,027	24,859	869	-975	-6,039	-2,527	329	4,412	-4,165	-1,310	2,154	-165	60	482	182	-102	-251
Accounts payable and accrued liabilities
8,275	16,587	-6,621	10,409	27,949	-20,611	25,339	-10,938	16,706	22,213	3,129	5,739	10,229	-14,828	43,323	1,322	3,625	77	-5,968	6,215	-4,094	-79	-9,844	7,545	1,241	6,483	-7,217	4,121	9,737	8,108	-4,620	6,246	-5,638	207	-3,112	2,337	5,677	353	-9,512	11,504	-4,719	10,825
Deferred revenue
2,458	-1,437	-1,456	669	2,376	467	-1,369	-856	1,539	166	-1,140	182	1,952	-602	-1,055	228	1,815	-5	-883	94	704	-353	-977	-31	1,001	-654	-886	43	146	-174	-976	36	1,805	-1,108	-556	-777	1,356	-5,038	-179	-2,100	620	-868
Income taxes receivable
19,982	28,740	637	18,864	0	-15,286	13,959	-2,468	3,697	-6,272	-36,252	-40,848	-27,415	92,172	15,975	-4,974	6,784	-5,136	1,791	-5,923	7,174	-2,236	-1,962	-2,506	2,834	-7,633	-3,461	8,989	-7,843	3,067	3,257	544	-1,291	4,572	351	16,639	1,156	-8,690	4,608	-5,070	6,913	-5,590
Income taxes payable
4,094	1,700	3,365	414	-7,287	14,177	-17,174	4,660	-14,095	23,460	-2,952	-3,315	3,319	2,615	-11,070	5,961	-15,586	23,483	-3,284	1,210	-18,331	18,434	-5,413	6,735	-15,415	16,909	-7,086	3,777	-16,599	21,517	-8,403	5,870	-18,739	18,727	-6,916	7,211	-11,689	13,923	-4,913	2,405	-16,866	16,634
Other liabilities
-219	-152	1,706	-380	-227	-435	-336	-335	452	-368	-101	-366	-341	-337	2,977	-349	-356	-433	-409	-446	-308	-503	-244	-220	-342	2,309	122	167	140	131	1,949	-179	-622	474	-82	-64	-194	-88	-	-	-	-
Net cash provided by operating activities
144,462	212,458	193,150	238,292	107,521	107,683	157,872	190,804	93,033	93,360	144,231	192,299	81,235	74,293	124,152	125,025	6,530	76,791	61,707	114,486	5,517	83,366	54,960	131,843	8,076	67,715	16,323	129,913	-22,225	75,315	32,722	106,603	26,161	64,187	42,282	107,327	15,785	77,538	25,424	91,179	5,113	77,691
Cash flows from investing activities:
Purchases of property and equipment
268,559	131,793	114,547	122,609	74,391	62,336	108,215	68,790	69,421	41,484	47,468	32,298	54,203	38,209	30,084	66,070	57,596	20,167	30,074	9,620	16,071	23,388	18,193	11,549	30,466	21,302	16,000	28,583	38,062	47,620	26,306	13,651	7,601	7,274	13,666	14,169	27,558	14,777	16,331	19,662	16,335	23,512
Investment in escrow
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	11,167	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of assets and liabilities in connection with acquisitions, net of cash acquired
-	-	-	-	-	-	0	8,910	0	-123	150,812	10,000	0	0	-	-	-	-	-	-	-	-	-461	533	13,935	293	52,779	0	30,794	449	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale of property and equipment
1,356	283	433	440	16,678	810	3,057	556	793	2,019	211	168	196	190	177	189	-47	343	651	345	53	472	436	331	1,229	853	796	1,291	957	33	-304	811	579	182	217	169	16,512	3,704	-544	1,310	1,106	605
Proceeds from sale of assets held for sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	100	0	0	0	217	0	364	494	0	0	2,328	0	861	-	-	-	-	-	-	-	-	-	-	-	-
Investment in unconsolidated affiliate
-	-	-	-	-	-	-	-	-	-	0	2,516	0	1,050	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of marketable securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	21,119	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities
-267,203	-131,510	-114,114	-122,914	-57,713	-61,526	-103,362	-77,144	-68,628	-39,342	-198,069	-44,646	-54,007	-39,069	-29,907	-44,483	-57,643	-40,843	-33,923	-9,275	-16,018	-22,699	-17,296	-11,387	-42,678	-20,742	-67,983	-24,964	-56,732	-58,342	-20,953	-12,840	-7,202	-7,092	-13,779	-48,566	-11,062	-11,073	-18,171	-18,351	-36,596	-22,907
Cash flows from financing activities:
Proceeds from the exercise of stock options
19,974	12,620	17,139	12,041	3,991	1,229	20,684	7,213	7,350	9,253	1,029	9,790	6,404	13,977	8,251	4,045	576	368	262	1,069	372	1,931	4,732	1,130	4,468	82	1,863	3,221	12,210	4,148	4,324	2,992	4,976	1,359	1,204	3,017	2,187	674	2,191	1,615	1,453	1,026
Excess tax benefit from stock-based payment compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,692	745	173	361	1,070	48	1,113	58	-67	871	3,371	1,922	1,671	1,592	902	202	622	1,882	933	110	2,677	517	20	2,429
Repurchases of common stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	231,747	616	0	1,121	492	0	0	80	497	0	627	13,885	65,630	2,260	91,412	43,983	136,196	64,445	463,287	75,710	9,162	0	12	3,532
Payments for employee stock-based tax withholdings
68	101,354	1,294	45,567	25	2	1,112	0	0	3	795	0	23	134,615	15,039	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in bank overdraft
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-17,034	17,034	-16,291	16,291	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from the issuance of long-term debt, net of discount
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	125,000	-	-	-	-	-	-	-	-
Proceeds from (Repayments of) Lines of Credit
-	-	-	-	-	-	0	-110,700	-71,300	-49,000	66,000	-145,000	-31,900	103,900	238,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Debt offering costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	313	-	-	-	-	-	-	-	-
Principal payments on long-term debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	300,000	0	18,750	18,750	18,750	18,750	293,750	18,750	18,750	18,750	18,750	18,750	40,405	18,750	18,750	18,755	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in financing activities
37,461	-88,734	12,525	-119,826	-264,230	1,227	22,481	-103,487	-61,282	-39,750	68,584	-135,210	-23,611	-16,738	-68,073	-88,507	-273,534	-18,382	-250,781	-17,552	406,274	-17,579	-12,216	-34,606	4,980	-34,981	-21,818	-14,658	-2,845	-26,570	-77,447	-16,426	-103,265	82,265	-145,990	-72,046	-61,113	-74,926	-3,337	2,132	2,548	-77
Effect of foreign currency translation
-2,311	2,569	-8,068	-900	2,287	-1,595	-6,746	-1,198	7,931	-122	5,733	2,226	2,914	-5,914	-7,976	4,202	-6,853	-662	267	717	-3,891	-3,272	388	783	-1,231	1,429	-2,222	-470	-118	915	-1,344	2,157	-731	-692	-652	1,479	-126	743	20	2	-54	881
Net decrease in cash and cash equivalents
-87,591	-5,217	83,493	-5,348	-212,135	45,789	70,245	8,975	-28,946	14,146	20,479	14,669	6,531	12,572	18,196	-3,763	-331,500	16,904	-222,730	88,376	391,882	39,816	25,836	86,633	-30,853	13,421	-75,700	89,821	-81,920	-8,682	-67,022	79,494	-85,037	138,668	-118,139	-11,806	-56,516	-7,718	3,936	74,962	-28,989	55,588
Supplemental disclosure of cash flow information:
Interest Paid, Excluding Capitalized Interest, Operating Activities
4,501	4,506	4,589	5,682	4,493	4,525	4,937	4,396	5,514	5,496	5,540	5,871	6,382	5,428	6,610	5,702	5,571	5,723	8,416	5,917	1,878	1,910	2,169	2,104	2,209	2,286	2,509	2,538	2,636	2,584	3,106	3,006	3,210	2,011	2,101	1,713	65	15	15	38	21	142
Income taxes paid, net of refunds
50,126	7,465	21,522	21,599	33,274	6,053	39,399	38,658	59,937	4,167	4,559	4,836	1,939	2,677	41,738	30,830	54,121	1,292	27,930	17,563	54,402	10,030	17,044	17,878	46,343	1,548	27,003	12,305	50,925	4,949	30,781	25,781	47,021	2,998	27,705	18,623	38,695	122	26,343	21,898	44,141	1,607