Crocs, inc. (CROX)
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'11
Cash flows from operating activities:
Net income

11,091

19,913

35,676

39,198

24,710

-10,886

10,492

34,377

16,454

-24,361

1,629

21,960

11,010

-40,644

-1,533

15,537

10,146

-70,173

-24,024

13,426

-2,425

-53,094

15,767

23,277

9,124

-66,933

13,036

35,356

28,961

-3,607

45,080

61,524

28,346

5,571

30,207

55,506

21,504

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization

6,907

6,705

5,643

5,729

6,136

7,715

6,661

7,231

7,643

8,429

7,886

8,369

8,446

8,570

8,442

8,436

8,595

7,974

8,911

9,389

9,719

6,069

10,593

11,378

9,373

10,339

10,645

10,258

10,264

9,879

9,558

8,904

8,353

8,474

9,382

9,564

9,843

Asset impairments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

32

Operating lease cost

14,994

15,366

15,097

14,749

14,930

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Unrealized foreign currency loss (gain), net

-

-

-

-

-

-

-

-

-

-8

-2,761

2,600

-856

1,164

2,979

-729

5,613

715

-81

-1,571

1,751

2,081

-1,873

5,184

5,708

7,181

631

1,590

-2,982

-8,398

-638

3,255

-8,147

951

5,452

5,836

-347

Share-based compensation

3,964

3,392

3,619

3,767

3,634

3,785

3,305

3,341

2,674

2,922

2,906

1,334

2,611

2,730

2,108

3,072

2,826

2,350

2,394

3,543

2,949

2,030

2,142

3,710

4,621

1,884

2,447

4,000

3,540

2,350

2,842

3,983

2,146

2,112

2,527

2,444

1,467

Provision (recovery) for doubtful accounts, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

739

19,038

4,948

1,272

2,958

5,262

3,099

768

510

80

643

697

547

56

563

1,000

-129

483

-711

-26

Deferred taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-464

104

-123

194

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Charitable contributions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

75

839

997

Other non-cash items

-5,877

275

54

-277

911

4,082

-3,904

-2,018

-154

356

-1,664

2,183

689

3,713

-1,984

-877

-808

-6,896

-149

-67

-25

-704

902

-683

-49

-328

-132

-314

-419

433

-961

-196

-1,001

-1,774

-563

346

146

Changes in operating assets and liabilities:
Accounts receivable, net of allowances

73,232

-15,604

-42,381

-7,722

80,722

-12,771

-36,451

-13,005

86,850

-9,688

-44,018

-13,831

66,917

-18,170

-31,367

-22,634

69,763

-32,488

-32,109

1,765

78,436

-52,070

-27,482

-8,348

103,188

-14,617

-43,341

-12,822

87,946

-25,093

-16,194

-28,992

79,754

-8,991

-15,466

-9,142

56,877

Inventories

29,268

30,978

7,223

-5,144

15,099

6,455

-10,974

-14,347

20,853

-10,884

-17,178

-23,848

28,591

-16,621

-1,602

-16,531

14,383

-19,127

11,851

-3,093

18,955

-18,293

18,775

285

30,484

-9,756

14,107

-15,132

16,055

-21,687

19,017

237

37,926

-20,543

771

1,818

31,282

Prepaid expenses and other assets

-3,294

511

2,589

7,787

-6,875

-4,432

-6,360

6,201

-5,112

-5,910

-430

-2,949

-9,618

-3,027

2,452

-1,707

6,814

-2,076

-3,026

5,888

-2,541

-16,625

-5,636

3,077

-2,514

-4,420

-4,815

9,106

4,354

5,699

3,676

10,850

5,265

1,908

3,589

4,963

7,138

Accounts payable, accrued expenses and other liabilities

-16,218

4,077

-24,593

30,206

-3,658

-2,318

-33,138

19,344

29,065

-805

-37,437

21,762

13,766

3,156

-29,003

7,233

17,260

-15,604

-4,519

600

42,783

-22,258

-23,863

2,340

31,675

-8,128

-9,997

-9,103

21,488

-6,520

7,164

-13,380

12,835

5,763

-5,451

-1,415

31,417

Accrued expenses and other liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,252

-15,286

15,494

2,628

-24,805

1,221

-10,933

18,693

-6,499

8,204

6,710

5,841

-18,833

9,297

24,140

-6,588

2,871

4,583

14,699

-2,231

Operating lease liabilities

-12,323

-

-

-

-19,610

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued restructuring

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,114

-94

1,589

2,250

-

-

-

-

-

-

-

-

-

-

-

-

Income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-7,463

5,601

2,769

7,256

16,750

20,189

-5,555

2,425

1,660

1,397

-6,709

443

10,201

11,553

-9,535

-7,312

1,455

-1,489

4,488

-3,357

Cash used in operating activities

-84,914

16,769

53,021

83,883

-63,715

28,292

45,009

87,462

-46,601

17,849

41,035

89,270

-49,890

10,400

9,536

76,756

-56,938

2,758

9,991

43,661

-46,712

-6,356

11,684

45,759

-62,738

-10,845

56,568

72,347

-34,606

21,090

57,544

110,115

-60,393

49,015

49,480

72,617

-28,736

Cash flows from investing activities:
Purchases of property, equipment, and software

16,076

3,724

14,130

8,169

10,553

6,755

1,978

1,578

1,668

-1,146

2,032

6,821

5,410

9,543

2,371

7,064

3,216

14,251

59

2,836

1,340

2,100

2,515

6,287

5,089

9,671

11,077

9,787

9,889

13,896

9,554

8,476

7,836

6,555

7,359

7,953

5,851

Proceeds from disposal of property and equipment

25

314

42

35

225

531

1,291

18

16

17

56

1,494

12

13

-3

2,428

0

-

-

-

-

-

-

-

-

-301

6

30

515

1,361

536

0

319

102

-28

180

65

Cash paid for intangible assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,037

-153

2,714

-

2,076

351

5,145

11,578

10,513

8,697

10,247

5,739

10,832

6,088

5,745

6,820

9,753

2,663

1,838

2,488

3,701

4,179

3,554

Change in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,798

-915

1,760

150

520

-259

-272

-453

867

205

583

-7

-108

16

1,279

296

1,204

350

304

854

-402

-92

-17

Other

116

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash used in investing activities

-16,167

-3,686

-14,088

-8,134

-10,328

-6,211

-687

-1,560

-1,652

1,163

-1,976

-5,327

-5,398

-4,985

-3,613

-3,568

-7,690

-6,831

-2,655

-2,928

-6,213

-13,163

-13,764

-15,146

-15,919

-15,704

-21,795

-15,861

-16,398

-17,038

-27,757

-11,489

-9,659

-8,773

-11,490

-12,044

-9,357

Cash flows from financing activities:
Proceeds from bank borrowings

145,000

5,000

215,000

0

95,000

120,000

0

0

0

0

0

0

5,500

2,000

0

9,582

20,000

-

-

-

-

-

-

-

-

4,807

3,996

2,399

12,173

6,581

0

38,505

51,000

49,072

102,325

108,689

56,509

Repayments of bank borrowings

-

-

-

-

-

-18

11

269

400

389

657

4,189

3,376

3,249

1,716

17,820

12,842

1,333

1,327

1,321

1,309

1,305

1,500

1,077

1,295

1,506

320

1,830

9,504

8

39

62,779

27,799

48,794

104,368

112,943

51,599

Proceeds from preferred stock offering, net of issuance costs of $0.0 million and $15.8 million, respectively

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

182,220

-

-

-

-

-

-

-

-

-

-

-

-

Dividends—Series A convertible preferred stock

0

0

0

0

2,985

12,015

3,000

3,000

3,000

3,000

3,000

3,000

3,000

3,000

3,000

3,000

3,000

3,000

3,000

2,833

3,067

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Issuances of common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

296

785

174

42

91

691

518

263

578

836

603

348

1,827

875

656

1,104

2,742

4,435

2,633

Repurchases of common stock

39,159

13,715

25,000

54,997

53,478

26,085

11,100

5,885

20,061

24,355

15,645

10,000

0

-

-

-

-

9,998

33,201

22,730

19,997

55,765

43,088

33,974

13,031

0

0

-128

12,661

-

-

-

-

-

-

-

-

Other

-2,717

-188

-1,640

27

-1,662

-301

239

484

-692

-26

7

0

-240

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

205

158

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repurchase of common stock for tax withholding

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

261

0

0

118

669

-

-

-

-

-

-

-

-

-

-

-

-

Cash provided by financing activities

103,124

6,097

-56,640

-54,970

36,875

-102,107

-13,872

-8,670

-24,153

-27,770

-19,295

-17,189

-1,116

-4,309

-4,691

-11,443

4,000

-13,375

-37,269

-26,156

-24,460

-60,096

-47,604

-36,612

167,743

2,697

4,254

1,277

-9,389

-18,378

1,788

-23,892

23,857

494

1,189

-309

7,543

Effect of exchange rate changes on cash, cash equivalents, and restricted cash

-3,496

1,730

-2,709

432

-22

358

1,050

-8,359

2,176

2,554

1,216

672

-1,389

-4,781

2,322

-4,163

6,367

-7,677

1,120

2,004

-9,429

-3,244

-8,898

3,146

5,576

8,505

4,110

-1,082

-1,282

-3,906

2,178

-2,510

-4,789

-3,537

1,230

4,216

466

Net change in cash, cash equivalents, and restricted cash

-1,453

20,910

-20,416

21,211

-37,190

-79,668

31,500

68,873

-70,230

-6,204

20,980

67,426

-57,793

-3,675

3,554

57,582

-54,261

-25,125

-28,813

16,581

-86,814

-82,859

-58,582

-2,853

94,662

-15,347

43,137

56,681

-61,675

-18,232

33,753

72,224

-50,984

37,199

40,409

64,480

-30,084

Supplemental Schedule of Non-Cash Investing and Financing Activities
Cash paid for interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

229

209

-137

616

258

154

52

152

-26

194

26

499

77

269

268

5

156

322

212

153

Cash paid for income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,255

4,297

6,270

7,101

3,541

6,940

15,961

7,213

3,140

6,476

4,786

5,872

12,448

6,386

6,088

4,463

5,218

6,082

5,002

10,330

Supplemental disclosure of non-cash investing and financing activities:
Assets acquired under capitalized leases

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

61

-

-

-

-

-

-

-

-

Accrued purchases of property and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

108

-2,914

1,965

1,612

-328

-222

335

2,380

-1,628

2,234

726

1,036

1,712

588

-1,193

2,915

Accrued purchases of intangibles

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-3,062

-2,617

3,579

5,088

4,533

-1,594

1,035

768

-3,513

3,884

278

119

-826

643

1

405

Accrued dividends

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

167

2,833

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accretion of dividend equivalents

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

705

691

721

618

-

-

-

-

-

-

-

-

-

-

-

-