CRA INTERNATIONAL, INC. CRAI Cash Flow

Cra international, inc. (CRAI)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Sep'18	Jun'18	Mar'18	Dec'17	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11
OPERATING ACTIVITIES:
Net income
6,468	4,763	5,739	5,580	4,665	6,839	-	3,908	6,839	4,886	-	-2,261	3,225	3,907	2,830	2,076	3,151	6,767	2,239	-2,589	2,813	3,202	2,899	3,743	3,189	3,167	3,308	3,716	3,333	1,351	2,835	-53,346	-706	773	436	4,550	3,898	4,036	4,461
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization
2,943	2,910	2,532	2,548	2,616	2,637	-	2,638	2,444	2,223	-	2,223	2,437	2,233	1,966	2,027	1,884	2,118	1,846	1,760	1,551	1,552	1,679	1,690	1,610	1,541	1,597	1,607	1,652	1,690	1,511	1,387	1,633	1,344	1,477	1,283	1,147	1,351	1,322
Loss on disposal of property and equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-16	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Facility related liabilities
35	34	33	15	35	-54	-	-45	1,799	1,896	-	1,855	114	807	395	10	96	575	2,579	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Right-of-use asset amortization
2,994	2,830	2,984	2,639	2,209	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred rent
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,412	-3,220	-344	-1,959	284	768	687	309	401	667	526	2,289	266	1,821	99	-	-	-	-
Deferred rent
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,862
Deferred income taxes
23	-1,276	72	24	21	-727	-	-204	170	-68	-	1,421	17	12	201	-	-	-	-	-1,371	-370	-17	48	-2,398	96	824	47	3,567	48	256	53	-10,202	54	86	180	-4,162	-1,162	-3,591	176
Share-based compensation expenses
655	820	882	848	911	1,115	-	1,266	1,146	1,292	-	1,983	1,581	1,397	1,655	2,076	1,686	1,450	1,655	1,388	1,405	1,389	1,609	1,496	1,507	1,289	1,327	882	832	841	480	1,157	1,311	952	1,527	1,478	1,094	1,527	1,670
Excess tax benefits from share-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	338	0	23	32	41	0	48	39	-	-	-	-	2	0	0	5	43	0	1	37	-	-	-	-
GNU gain on extinguishment of debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	606	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts receivable allowances
62	207	100	-308	48	-1,643	-	45	-264	452	-	-7	210	532	1,004	782	178	-764	339	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Unrealized foreign currency remeasurement gains, net
398	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts receivable allowances
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,086	-	-1,244	-689	-722	-1,858	-264	-1,807	1,743	-3,124	316	3,847	1,775	-	-	-	-
Changes in operating assets and liabilities:
Noncash interest from discount on convertible debentures
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	100	129
Accounts receivable
-1,388	16,385	3,551	-1,435	-5,742	5,488	-	-474	12,371	-2,958	-	2,852	4,920	8,321	-3,061	5,043	-228	10,092	-6,237	285	2,459	939	-245	6,586	-13,602	7,997	-2,910	-11,127	18,684	-9,116	-8,358	-4,194	1,974	3,985	-12,036	9,224	-477	2,465	787
Unbilled services, net
8,217	-14,230	6,337	-421	8,666	-	-	-	-	-	-	-	-	-	-12,657	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Unbilled services
-	-	-	-	-	-	-	-	-	8,672	-	-	-	-	-	-11,655	6,736	-4,040	9,178	-7,840	4,078	-3,023	7,557	-3,299	503	-1,469	5,003	-5,713	550	4,217	3,943	-5,320	-6,954	-2,083	19,031	-22,185	-460	6,016	3,989
Prepaid expenses and other current assets, and other assets
5,327	-3,615	1,229	2,344	2,162	-4,085	-	-972	527	-972	-	438	-1,125	-3,515	-1,865	8,027	-1,046	1,544	-2,086	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Prepaid expenses and other current asset, and other assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-666	-	2,024	-1,599	-123	-20,375	-8,152	19,922	6,566	-	-	-	-	-	-	-	-
Forgivable loans
27,139	-2,611	4,579	-2,594	16,957	-2,439	-	2,586	-3,915	16,045	-	-3,223	2,194	-2,462	-2,150	-2,482	-4,130	-456	-3,157	1,376	-722	-2,537	1,650	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Incentive cash awards
1,423	1,211	1,213	1,201	1,214	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Incentive cash awards
-	-	-	-	-	-	-	-	-	684	363	-	347	364	245	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Prepaid expenses and other assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6,563	2,291	556	-	766	4,479	1,102
Accounts payable, accrued expenses, and other liabilities
-39,121	32,468	28,237	-2,022	-42,489	27,756	-	22,305	-158	-31,117	-	24,596	16,693	5,212	-23,086	16,738	15,467	5,007	-20,888	14,435	10,640	-2,648	-22,942	16,693	9,973	-1,157	-17,357	12,954	14,467	-4,465	-11,842	10,007	3,444	-8,069	-18,793	5,729	4,814	4,877	-2,885
Lease liabilities
-1,164	-336	106	-2,178	-3,754	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in operating activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-9,960	-	11,700	7,638	-24,202	19,398	25,922	-713	-14,457	35,589	8,585	-17,824	-7,902	14,277	4,205	-5,922	-21,085	27,841	9,604	-4,547	-2,867
Net cash provided by operating activities
-65,375	47,739	26,202	10,458	-56,567	44,583	-	24,407	7,738	-40,539	-	38,067	16,274	11,888	-20,371	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
INVESTING ACTIVITIES:
Cash consideration paid for acquisitions
-	-	-	-	-	-	-	-	-	-	-	0	0	0	16,163	-	-	-	-	-	-	-	-	247	0	33	1,504	0	0	-140	15,731	-	0	0	0	0	0	555	289
Purchases of property and equipment
7,949	4,145	8,644	3,130	774	2,068	-	4,440	5,691	3,248	-	4,391	2,716	1,827	823	1,215	5,058	1,677	5,073	5,279	4,204	6,128	2,364	1,017	1,817	911	447	319	526	797	1,174	876	352	831	673	1,941	1,791	2,049	2,465
Purchase of investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	9,494	14,404	15,102	113	31,430
Sale of investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	4,995	4,499	14,495	-	-	-	-
Collections on notes receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3	-6	10	1,550	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments on notes receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1	37	0	40	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-5,073	-	-4,247	-6,118	-854	-1,264	-1,717	-930	-1,951	-319	-526	-643	-16,905	-826	5,568	3,682	4,328	-1,332	-2,411	14,406	-34,184
Net cash used in investing activities
-7,949	-4,145	-8,644	-3,130	-774	-2,068	-	-4,440	-5,691	-3,248	-	-4,391	-2,716	-1,577	-16,986	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
FINANCING ACTIVITIES:
Issuance of common stock, principally stock options exercises
151	1,205	480	0	1,526	779	-	471	381	535	-	3,470	251	1,433	1,266	-	-	-	-	-	-	-	-	-	-	-	-	0	0	88	119	72	0	259	316	0	0	338	282
Borrowings under revolving line of credit
70,000	0	4,000	11,000	39,000	0	-	0	20,161	10,000	-	0	0	5,500	6,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments on notes payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	75	0	0	0	300	0	0	10	16	-	-	-	0	-	-	-	-	-	-	-	-
Tax withholding payments reimbursed by shares
390	1,788	0	0	388	2,163	-	0	0	1,783	-	2,559	0	0	703	1,390	0	0	490	541	16	45	66	1,063	16	0	143	503	13	20	194	618	10	13	719	417	24	20	685
Cash paid on dividend equivalents
40	211	0	0	35	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefits from share-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	338	0	23	32	41	0	48	39	-	-	-	-	2	0	0	5	43	0	1	37	-	-	-	-
Cash dividends paid to shareholders
1,796	1,797	1,546	1,580	1,616	1,616	-	1,373	2,697	98	-	4,916	0	1	24	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash dividends paid to shareholders
-	-	-	-	-	-	-	-	-	1,423	1,412	-	1,152	1,189	1,188	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repurchases of common stock
3,810	0	6,558	7,161	4,349	7,495	-	0	13,159	7,230	-	-	-	-	-	-3	4,178	14,844	296	1,996	2,842	3,433	4,535	13,565	6,572	3,231	2,124	-	-	-	0	0	3,442	2,570	3,050	-	-	-	-
Repurchase of treasury stock by NeuCo, Inc.
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-33
Net cash provided by (used in) financing activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-829	-	-2,361	-3,325	-4,862	-13,767	-6,588	-3,241	-2,283	-2,141	-6,512	4,197	-70	-503	-4,102	-2,323	-3,416	-3,740	-4,352	-23,250	-436
Effect of foreign exchange rates on cash and cash equivalents
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	304	-	95	391	-1,051	-852	-547	6	-68	220	22	13	16	206	-162	-211	148	-681	-503	241	293
Net cash provided by financing activities
64,115	-38,591	-12,624	-6,741	34,138	-16,217	-	-16,740	-2,791	1	-	-1,016	-8,012	-18,174	5,351	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Effect of foreign exchange rates on cash and cash equivalents
-612	803	-689	43	133	-133	-	-389	-1,083	603	-	476	685	712	295	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net decrease in cash and cash equivalents
-9,821	-	4,245	630	-23,070	-	-	2,838	-1,827	-43,183	-	-	6,231	-7,151	-31,711	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net (decrease) increase in cash and cash equivalents
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	28,346	12,979	-10,376	-15,558	17,136	5,187	-1,414	-30,969	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net decrease in cash and cash equivalents
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-18,759	-	1,569	-14,257	-24,861	13,154	5,509	-4,774	-20,025	22,088	2,338	-13,150	-37,194
Noncash investing and financing activities:
Issuance of common stock for acquired business
-	-	-	-	-	-	-	-	-	-	-	0	0	44	3,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repurchases of common stock payable
-	-	-	-	-	-	-	-	-	1,095	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Issuance of common stock for acquired business
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	427	-	-	-	0	-	-	-	-	-	-	-	-
Purchases of property and equipment not yet paid for
370	1,453	-592	2,147	1,906	-1,549	-	-2,852	781	3,923	-	946	1,727	329	512	-1,116	-2,104	1,316	2,022	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of property and equipment paid by a third party
-	-	-	-	-	-	-	-	-	-	-	0	1,190	297	153	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Asset retirement obligations
155	-	-	-	-	6	-	-3	-3	223	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Right-of-use assets obtained in exchange for lease obligations
-	20,529	14	36,571	713	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Right-of-use assets related to the adoption of ASC 842
-	0	0	0	82,329	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Lease liabilities related to the adoption of ASC 842
-	0	0	0	106,765	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Supplemental cash flow information:
Cash paid for taxes
695	1,512	2,495	3,285	298	1,404	-	2,251	946	212	-	127	2,068	4,948	281	2,225	2,367	1,311	281	1,461	3,227	4,832	168	2,972	4,008	5,075	3,525	1,550	50	207	1,080	-6	38	3,785	4,901	7,301	4,415	4,608	2,420
Cash paid for interest
245	309	338	451	59	129	-	107	213	60	-	66	78	92	78	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid for amounts included in operating lease liabilities
5,039	-	-	-	4,627	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid for interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	155	-	78	84	78	156	98	93	96	117	85	82	55	56	56	55	56	38	127	359	34