Americas carmart inc (CRMT)
CashFlow / Quarterly
Jan'20Oct'19Jul'19Apr'19Jan'19Oct'18Jul'18Apr'18Jan'18Oct'17Jul'17Apr'17Jan'17Oct'16Jul'16Apr'16Jan'16Oct'15Jul'15Apr'15Jan'15Oct'14Jul'14Apr'14Jan'14Oct'13Jul'13Apr'13Jan'13Oct'12Jul'12Apr'12Jan'12Oct'11Jul'11Apr'11Jan'11Oct'10Jul'10
Net income

12,686

13,887

15,511

14,566

10,895

11,280

10,884

10,169

13,379

5,969

6,992

5,242

2,836

5,018

7,109

3,363

4,101

-484

4,616

7,250

7,461

7,519

7,260

6,313

1,470

5,805

7,541

8,789

7,980

7,278

8,118

9,641

7,305

7,759

8,282

8,373

5,688

6,189

7,965

Adjustments to reconcile net income to net cash used in operating activities:
Provision for credit losses

40,233

41,177

31,475

34,744

35,555

38,521

37,543

38,281

37,872

38,746

34,160

38,630

37,645

39,441

33,381

38,172

32,786

38,094

35,345

30,836

30,206

31,371

27,876

27,645

36,776

28,296

26,530

25,536

25,189

23,647

21,663

19,582

20,899

22,623

18,534

17,970

18,089

18,767

16,138

Losses on claims for payment protection plan

4,782

4,129

4,230

4,872

4,245

3,834

4,069

4,709

4,059

4,042

3,938

4,367

4,341

3,812

3,107

3,706

3,720

2,940

3,155

2,748

3,076

2,578

2,186

2,841

2,685

2,270

1,790

2,295

1,957

1,808

1,484

1,700

1,618

1,399

1,336

1,302

1,408

1,210

1,007

Depreciation and amortization

975

971

967

1,020

985

979

985

1,006

1,057

1,108

1,079

1,037

1,059

1,080

1,096

1,152

1,008

1,038

1,010

1,048

935

929

918

878

835

795

777

756

712

696

662

632

594

565

538

523

485

464

456

Amortization of debt issuance costs

76

61

54

53

60

69

69

61

74

66

59

55

57

70

70

70

48

48

48

23

72

47

46

46

45

45

73

54

45

64

46

49

45

44

44

-

-

-

-

Loss (gain) on disposal of property and equipment

0

-2

-37

-

-

-

-

97

-84

-57

-47

-798

-7

1

-400

-323

-27

-19

0

-

-

-

-

0

-37

2

-41

-

-

-

-

-

-

-

-

-

-

-

-

Stock based compensation

938

592

1,620

1,433

582

594

1,094

345

270

362

626

273

237

251

532

283

287

284

665

175

193

146

266

244

257

246

644

327

341

377

807

491

481

469

731

656

665

655

909

Unrealized gain for change in fair value of interest rate swap

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

105

250

-50

-233

Deferred income taxes

-455

1,150

873

92

1

737

871

894

-8,224

566

404

-522

-419

636

943

-345

566

-1,588

469

120

1,412

1,241

1,161

-1,106

-2,360

577

-34

-338

1,029

478

277

255

837

1,977

247

2,767

357

150

938

Excess tax benefit from share based compensation

923

139

276

-

41

543

943

-

-1,561

956

-172

241

659

283

0

0

47

0

191

670

413

467

77

-119

106

9

5

-

-

-

-

-

-

-

-

-

-

-

-

Change in operating assets and liabilities:
Finance receivable originations

152,919

155,319

137,855

141,416

129,206

135,622

134,261

138,152

117,482

120,054

118,953

122,323

112,096

123,832

120,848

123,991

113,242

105,925

117,341

110,636

112,745

114,067

107,957

96,588

104,642

100,854

102,834

102,964

102,791

91,187

90,953

90,789

88,206

92,430

82,903

83,298

76,921

75,116

75,914

Finance receivable collections

-

-

74,355

-

-

-

66,740

79,967

61,528

59,675

58,934

73,568

58,570

59,090

58,036

74,217

56,356

58,650

58,943

70,061

57,784

56,683

54,317

68,057

52,495

51,917

51,069

63,688

47,295

48,451

48,279

60,613

47,095

47,174

45,815

54,942

45,965

44,377

43,556

Accrued interest on finance receivables

-125

140

240

-108

21

103

143

-160

15

83

153

-220

50

111

441

-326

343

-111

-192

239

-64

-142

139

-90

-25

-28

189

-150

236

117

153

-149

176

26

242

-108

28

156

96

Inventory

-7,434

-9,845

-4,503

-15,447

-13,491

-11,452

-7,251

-16,446

-3,437

-10,423

-8,487

-14,307

-11,102

-12,460

-4,624

-24,387

-699

-15,378

-7,690

-16,631

-5,118

-11,764

-7,173

-18,582

-7,052

-12,888

-11,487

-14,789

-404

-10,308

-8,571

-14,025

-6,297

-8,270

-4,903

-10,632

-4,887

-5,070

-5,819

Prepaid expenses and other assets

-92

-32

210

-431

346

-55

27

-209

646

-21

364

-541

979

330

-38

11

131

-121

-305

151

383

301

52

430

413

478

-23

429

719

64

-141

311

13

-779

136

207

-479

702

528

Accounts payable and accrued liabilities

469

2,034

-1,387

906

30

-1,742

3,032

513

1,659

-941

3,481

73

-659

-2,416

3,678

-3,249

3,589

-1,115

1,890

-2,894

3,394

-1,346

4,708

-2,587

911

402

-401

-387

3,663

758

-1,615

2,029

-1,407

2,577

-1,717

1,704

158

856

-1,416

Increase (decrease) in deferred revenue

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

815

242

557

613

365

503

301

305

61

51

317

Income taxes, net

-164

-3,110

3,100

1,226

397

-2,606

486

-184

-778

-4,548

3,175

-52

1,174

-993

2,834

189

-786

-1,606

2,192

-1,624

760

-2,617

3,681

285

840

-1,897

4,085

-293

-376

-3,388

3,301

-1,055

-332

-4,126

5,510

-643

-443

-3,818

3,656

Net cash provided by (used in) operating activities

8,365

-6,287

-2,092

24,897

2,549

-2,959

414

15,125

-3,977

-3,944

2,790

15,973

1,303

-5,647

-4,295

19,545

-10,902

5,601

42

13,141

-1,307

-3,504

4,057

23,499

-2,794

-53

1,223

12,855

-14,634

-742

1,185

17,676

-4,864

-2,359

1,243

15,122

596

-1,894

3,040

Investing Activities:
Purchase of property and equipment

1,583

651

1,010

987

1,505

852

685

672

628

345

613

163

549

352

523

325

1,279

1,524

1,398

1,204

942

876

987

1,554

1,562

2,193

1,786

2,288

1,478

1,035

925

1,224

1,199

1,295

734

1,140

1,412

1,114

1,135

Net cash used in investing activities

-1,583

-642

-1,010

-845

-1,505

-852

-685

-406

-363

-322

-613

-155

371

-348

-523

-318

-1,279

-1,524

-1,398

-1,112

-942

-856

-987

-1,554

-1,562

-2,191

-1,786

-2,279

-1,279

-1,035

-925

-1,207

-1,199

-1,295

-734

-1,140

-1,408

-1,110

-1,135

Financing Activities:
Exercise of stock options

873

785

80

1,290

79

1,035

2,713

1,149

489

-540

543

220

815

783

77

0

155

0

245

1,216

1,382

1,277

268

1

614

69

36

-

-

-

-

16

842

511

1

-

-

-

-

Excess tax benefits from stock based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

47

0

191

670

413

467

77

21

106

9

5

-

-

-

-

-

-

-

-

-

-

-

-

Issuance of common stock

51

50

40

44

36

38

29

32

25

30

28

36

32

39

35

42

75

0

69

1

67

0

78

-1

73

0

79

0

74

0

69

0

65

0

53

0

53

2

48

Purchase of common stock

1,127

9,981

4,715

2,490

10,215

6,495

7,377

16,006

6,207

16,343

3,745

12,311

116

894

7,165

3,729

6,496

1,678

2,311

6,392

3,351

7,517

2,760

4,015

8,208

147

384

57

2,581

5,250

9,417

9,417

3,524

15,330

11,096

3,831

5,478

3,778

7,260

Dividend payments

10

10

10

10

10

10

10

10

10

10

10

10

10

10

10

10

10

10

10

10

10

10

10

10

10

10

10

10

10

10

10

10

10

10

10

10

10

10

10

Debt issuance costs

-

-

-

-

-

-

-

-50

0

125

28

71

378

0

0

-

-

-

-

-

-

-

-

7

0

0

200

-

-

-

-

-

-

-

-

-

-

-

-

Change in cash overdrafts

-799

-1,313

1,890

-46

-718

-504

2,036

-3,609

1,267

748

1,431

-2,918

2,998

-1,499

2,088

-1,006

-221

-752

392

1,587

-1,008

-2,186

2,109

-601

-993

223

919

-1,608

791

513

1,713

-1,242

1,205

-436

601

-2,949

2,720

-146

-235

Payments on note payable

124

125

125

105

96

94

94

26

27

27

27

27

26

25

26

26

8

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1

6,361

232

228

Proceeds from revolving credit facilities

126,650

139,240

118,800

112,712

112,169

116,051

109,622

126,467

103,687

114,230

89,434

108,746

85,762

98,132

94,410

101,787

102,086

82,484

87,857

108,385

90,150

102,644

76,046

92,161

85,686

77,581

73,996

91,902

84,727

76,189

77,420

87,873

75,050

87,043

74,887

42,135

45,858

33,487

28,487

Payments on revolving credit facilities

119,248

120,448

112,970

130,480

105,818

106,367

106,829

122,278

94,708

93,840

89,736

109,544

91,326

91,015

84,822

116,419

84,243

83,470

85,132

118,260

84,081

90,117

78,858

109,461

72,997

75,428

73,862

101,613

66,709

70,085

70,112

93,540

67,614

68,083

64,949

49,005

35,769

26,371

22,697

Net cash provided by (used in) financing activities

6,242

7,763

2,990

-19,084

-4,940

3,649

90

-14,231

4,516

4,123

-2,110

-15,638

-1,590

5,794

4,587

-19,215

11,385

-3,426

1,301

-12,803

3,556

4,308

-3,050

-21,912

4,271

2,297

579

-11,169

16,378

1,978

-337

-16,602

6,142

3,765

-513

-14,186

1,013

2,952

-1,895

Increase in cash and cash equivalents

-391

834

-112

128

945

-162

-181

488

176

-143

67

180

84

-201

-231

12

-796

651

-55

-774

1,307

-52

20

33

-85

53

16

-593

465

201

-77

-133

79

111

-4

-204

201

-52

10

Payment Protection Plan [Member]
Increase (decrease) in deferred revenue

730

1,005

464

619

-42

361

606

915

-48

68

416

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Service Contract [Member]
Increase (decrease) in deferred revenue

127

538

135

367

-326

-54

272

660

-196

-33

290

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-