Carter’s, inc. (CRI)
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'11Dec'10Sep'10Jun'10Mar'10
Cash flows from operating activities:
Net Income (Loss) Attributable to Parent

-78,694

125,147

60,252

43,937

34,466

130,562

71,769

37,268

42,469

136,145

82,315

37,793

46,595

86,720

80,811

36,198

53,980

72,599

79,326

36,105

49,792

68,591

65,886

25,896

34,297

42,748

56,571

19,673

41,415

48,692

59,378

20,805

32,275

34,785

34,449

12,659

32,123

34,894

49,657

19,096

42,825

Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation of property, plant, and equipment

22,433

24,202

23,014

22,362

22,629

22,495

21,452

20,852

21,137

21,341

20,750

20,192

19,513

19,138

17,468

17,739

17,177

17,795

13,849

15,463

14,875

15,656

13,152

14,325

15,354

18,850

11,129

12,547

12,389

13,229

8,826

9,204

8,589

9,213

7,155

8,237

8,130

8,997

6,648

8,200

7,882

Adjustment and accretion of contingent considerations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

326

483

448

449

-3

454

478

481

975

891

706

1,104

1,087

692

-

-

-

-

-

-

-

-

Amortization of Intangible Assets

900

947

926

937

937

934

938

924

921

929

795

642

250

44

44

836

995

995

993

2,104

2,325

2,280

2,280

5,606

6,271

6,317

6,271

1,000

0

-

-

-

-

-96

96

0

0

-

-

-

-

Provisions for excess and obsolete inventory

26,600

-

-

-

531

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Inventory, Firm Purchase Commitment, Loss

22,837

-

-

-

52

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Goodwill impairment

17,742

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)

26,500

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other asset impairments and loss on disposal of property, plant and equipment, net of recoveries

2,050

-

-

-

433

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash revalution of contingent consideration

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

Amortization of debt issuance costs

353

350

350

370

367

443

438

434

431

429

394

376

373

369

367

364

361

357

568

398

280

389

381

388

375

372

285

196

196

196

327

177

177

177

177

177

177

1,384

222

730

280

Stock-based compensation expense

1,945

2,989

3,733

5,194

4,613

2,563

1,844

5,322

4,944

4,098

3,805

4,867

4,779

3,821

3,776

4,694

4,556

3,725

3,744

4,820

4,740

3,715

4,054

5,294

4,535

3,684

3,931

4,360

4,065

3,331

3,367

3,483

2,868

2,483

2,278

2,732

2,151

1,906

1,887

1,820

1,690

Unrealized foreign currency exchange loss (gain), net

-3,856

740

-318

-68

210

-339

270

-555

353

-530

599

493

62

2,328

769

650

-3,780

217

-137

1,568

-1,652

-2,378

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Provisions for (recoveries of) doubtful accounts receivable from customers

4,270

1,843

806

-307

-2,562

254

4,036

460

11,051

940

3,118

2,256

-1,651

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income tax benefit from stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

733

383

540

3,144

876

1,073

1,119

5,771

344

606

380

3,370

265

846

6,398

3,531

373

553

299

1,535

608

3,452

3,247

-407

18,222

-394

-316

-8,263

Loss on disposal of property, plant, and equipment, net of recoveries

-

-

-

-

-

-479

-38

-128

-350

-970

-381

-32

-189

-346

-688

59

-192

-790

10

-38

-52

-616

3

-355

-189

104

-264

-24

-88

-55

-230

-126

-391

10

-9

-240

100

121

169

9

-181

Loss on extinguishment of debt

0

0

0

0

-7,823

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes (benefit) expense

-10,053

-21,600

4,032

1,026

3,242

2,155

-4,573

-1,568

2,968

-53,877

-4,168

-342

3,451

3,394

-3,591

-968

2,226

10,458

-3,687

-321

2,207

12,874

-3,337

-2,306

-3,320

2,065

-2,026

-1,280

1,837

-4,039

-6,166

353

201

1,107

3,177

1,491

3,353

-2,604

1,822

-317

5,469

Effect of changes in operating assets and liabilities:
Accounts receivable

-22,926

-40,913

126,107

-71,424

-21,891

-33,885

144,697

-67,741

-8,623

-43,312

122,631

-38,712

-17,898

-67,915

120,665

-41,982

-15,247

-37,271

89,757

-40,051

11,402

-47,538

98,894

-71,486

11,725

-51,687

112,270

-44,921

10,402

-32,009

68,096

-46,694

20,807

-57,041

90,029

38,838

-38,604

128,766

-71,975

19,362

-36,794

Finished goods inventories

5,634

-130,773

27,010

175,767

-55,321

-115,063

28,240

185,763

-68,294

-60,363

-10,161

173,532

-82,086

-63,529

-33,806

210,873

-96,056

-39,372

-29,655

186,728

-83,349

-71,992

-16,240

173,692

-53,309

-21,262

10,592

145,953

-64,592

-25,173

-3,742

112,705

-82,000

-38,784

-63,969

42,273

81,051

134,291

-3,122

-117,535

70,875

Prepaid expenses and other assets

-14,923

-26,561

3,285

4,504

717,808

-17,433

5,441

-2,099

1,970

3,773

4,867

-1,857

15,008

-11,279

-2,505

12,067

576

352

-11,100

13,772

472

5,092

-12,352

18,403

-8,424

17,655

-27,075

27,915

221

5,672

-8,589

11,136

-2,215

1,967

272

993

-2,284

7,524

-799

-1,129

673

Accounts payable and other liabilities

-64,450

-17,560

1,029

103,281

605,350

8,235

1,001

90,504

-94,758

708

24,319

90,793

-74,233

-1,401

16,918

80,661

-62,568

-19,964

74,057

44,111

-54,886

36,429

-20,151

73,998

-74,233

16,791

13,353

114,562

-58,191

36,097

28,528

49,708

-24,624

23,761

-24,007

43,931

-76,496

26,127

5,758

61,980

-61,028

Net cash (used in) provided by operating activities

-14,302

313,860

-31,110

67,442

37,023

334,840

-81,705

38,956

64,107

212,115

10,173

23,153

84,180

252,655

30,975

-42,683

128,282

161,953

118,902

-60,092

87,224

257,470

-8,197

2,564

30,560

146,230

-6,374

16,712

53,128

149,404

39,276

7,497

82,442

166,862

514

-95,596

9,294

80,620

-10,127

-8,100

23,428

Cash flows from investing activities:
Capital expenditures

8,068

15,281

21,146

15,621

9,371

15,939

16,094

17,006

14,744

17,817

17,380

16,285

17,991

17,366

21,492

24,146

25,552

26,510

26,703

29,524

20,760

19,819

22,334

29,217

32,083

52,897

59,062

39,140

31,426

23,582

22,105

21,330

16,381

16,338

13,071

9,273

6,813

10,299

8,763

12,497

8,223

Acquisitions of businesses, net of cash acquired

-

-

-

-

-

-

-

-

-

-908

15,661

0

143,704

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Disposals and recoveries from property, plant, and equipment

-

-

-

-

-

4

3

0

373

15

0

0

0

-

-

-

-

6

23

-33

76

2,128

9

134

0

-

-

-

-

0

0

0

6

0

10

0

0

0

0

0

286

Net cash used in investing activities

-8,068

-15,281

-21,146

-14,872

-9,371

-15,935

-16,091

-16,910

-14,371

-16,894

-33,041

-16,285

-161,695

-17,366

-21,469

-23,953

-25,552

-26,504

-26,680

-29,557

-20,684

-21,241

-22,325

-29,083

-32,083

-52,897

-59,062

-77,147

-31,426

-23,582

-22,105

-21,330

-16,375

-16,346

-13,061

-70,472

-6,813

-10,299

-8,763

-12,497

-7,937

Cash flows from financing activities:
Proceeds from senior notes due 2027

0

0

0

0

500,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of senior notes due 2021

0

0

0

0

400,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Premiums paid to extinguish debt

0

0

0

0

5,252

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of debt issuance costs

0

0

0

71

5,722

78

890

0

0

-

-

-

-

-

-

-

-

-

-

-

-

32

31

59

55

502

6,487

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Payments on term loan

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

232,159

613

100,876

875

Borrowings under secured revolving credit facility

644,000

0

185,000

10,000

70,000

0

140,000

100,000

50,000

0

100,000

80,000

20,000

0

0

0

0

0

185,237

0

20,349

0

0

0

0

-

-

-

-

0

0

0

2,500

0

0

0

0

-

-

-

-

Payments on secured revolving credit facility

0

175,000

20,000

31,000

135,000

205,000

25,000

35,000

50,000

70,000

75,000

0

18,965

0

0

0

0

0

185,237

0

20,000

0

0

0

0

-

-

-

-

0

0

50,000

2,500

0

0

0

0

-

-

-

-

Repurchases of common stock

45,255

49,446

55,021

52,477

39,966

47,535

56,400

63,898

25,195

37,788

52,738

51,609

46,627

61,307

58,929

108,648

71,561

31,951

29,445

34,774

14,120

19,330

26,689

33,788

2,292

0

416,376

28,815

8,942

0

0

0

0

-

-

-

-

-

-

-

-

Dividends paid

26,260

22,063

22,268

22,504

22,756

20,603

20,847

21,023

21,244

17,471

17,612

17,833

17,998

16,224

16,452

16,647

17,032

11,411

11,474

11,546

11,597

10,024

10,073

10,172

10,208

8,727

9,466

9,522

0

-

-

-

-

-

-

-

-

-

-

-

-

Income tax benefit from stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

733

383

540

3,144

876

1,073

1,119

5,771

344

606

380

3,370

265

846

6,398

3,531

373

553

299

1,535

608

3,452

2,433

407

276

394

316

8,263

Withholdings from vestings of restricted stock

4,712

114

88

49

4,077

83

80

84

6,583

99

64

38

5,552

79

86

54

8,454

76

198

46

12,331

76

221

172

4,079

61

452

156

4,383

52

386

161

2,247

546

33

196

1,406

212

1,336

-1,138

517

Proceeds from exercises of stock options

1,840

7,609

535

1,566

4,780

1,865

1,356

2,607

4,769

3,298

2,018

1,496

1,626

780

1,285

1,354

3,747

1,233

1,183

1,792

2,768

1,293

1,223

1,002

5,546

488

1,214

7,450

3,760

2,035

1,169

799

1,682

1,358

3,736

1,685

7

216

609

409

8,462

Net cash provided by (used in) financing activities

569,613

-239,014

88,158

-94,535

-37,993

-271,434

38,139

-17,398

-48,253

-122,041

-45,534

12,016

-67,516

-76,097

-73,799

-123,455

-90,156

-41,462

-47,928

-43,455

-29,160

-27,825

-44,086

-42,809

-7,718

-8,537

-45,442

-24,645

-6,034

2,356

-580

-49,063

970

1,420

7,155

3,922

-992

-5,268

-43,794

-100,255

15,333

Net effect of exchange rate changes on cash and cash equivalents

-2,454

810

-424

274

413

-1,292

353

-1,702

279

-56

208

402

-49

-460

-161

30

1,358

-1,038

-335

5

-618

-1,412

334

12

-69

-69

565

-351

-341

-263

101

-10

4

-76

301

0

0

-

-

-

-

Net increase (decrease) in cash and cash equivalents

544,789

60,375

35,478

-41,691

-9,928

46,179

-59,304

2,946

1,762

73,124

-68,194

19,286

-145,080

158,732

-64,454

-190,061

13,932

92,949

43,959

-133,099

36,762

206,992

-74,274

-69,316

-9,310

84,727

-110,313

-85,431

15,327

127,915

16,692

-62,906

67,041

151,860

-5,091

-162,146

1,489

65,053

-62,684

-120,852

30,824