Corvel corp (CRVL)
CashFlow / TTM
Dec'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'10
Cash Flows from Operating Activities
NET INCOME

47,468

48,414

48,332

46,703

43,823

43,094

38,698

35,695

34,724

32,204

30,763

29,479

28,158

27,801

29,116

28,525

27,435

27,575

27,191

28,590

31,347

33,290

34,082

34,392

33,639

30,788

28,743

26,730

24,223

23,699

24,950

26,552

24,125

25,449

25,101

24,663

0

0

0

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

22,706

29,459

26,318

22,984

22,858

22,510

22,105

21,775

21,344

21,078

21,200

20,948

20,661

20,446

20,058

19,952

19,641

19,193

18,823

17,995

17,472

17,010

16,516

16,411

16,086

15,914

15,392

15,739

15,964

15,680

15,686

14,723

13,837

13,289

12,784

12,249

0

0

0

Loss on write down or disposal of property, capitalized software or investment

-344

-369

-379

-306

-32

-712

-862

-1,199

-1,507

-1,175

-1,014

-733

-689

-299

-294

-286

-83

-268

-279

-285

-214

-67

-82

-78

-93

-45

-405

-412

-458

-484

-151

-210

-191

-158

-79

-153

0

0

0

Stock compensation expense

4,805

4,685

4,395

4,349

3,892

3,722

3,421

3,164

3,078

2,833

2,838

2,432

2,326

2,216

2,092

2,192

2,217

2,151

2,108

2,209

2,188

2,432

2,452

2,140

1,893

1,480

1,105

997

1,056

1,334

1,915

2,276

2,520

2,609

2,612

2,544

0

0

0

(Recovery) provision for doubtful accounts

-1,166

1,213

760

1,875

2,388

3,175

3,596

2,559

2,442

2,142

2,225

2,335

1,945

1,540

1,439

1,357

1,388

1,842

1,679

1,730

1,727

1,732

1,367

1,332

1,429

1,366

2,005

2,123

2,281

1,983

1,968

2,146

2,100

2,655

2,323

2,437

0

0

0

Deferred income tax

1,342

1,371

1,444

1,456

2,121

-836

-840

-874

-5,212

-1,352

-1,355

-1,220

-845

-1,684

-1,640

-1,656

327

355

373

304

-2,490

-2,616

-2,635

-2,519

1,889

2,075

2,234

2,276

9,468

9,360

9,125

9,051

937

973

653

624

0

0

0

Changes in operating assets and liabilities
Accounts receivable

2,591

7,569

1,477

8,271

1,331

2,244

6,952

4,658

6,748

7,692

4,291

5,429

5,249

2,761

5,231

3,567

1,038

767

1,403

2,038

2,562

7,640

7,795

9,456

13,444

7,012

6,432

1,894

-461

-97

-514

2,516

4,748

9,127

5,711

7,419

0

0

0

Customer deposits

-3,314

-789

-7,973

-9,772

-738

-2,295

-3,965

-3,025

-11,271

-7,849

-7,220

-6,822

-6,708

-6,468

-5,704

-8,331

-8,886

-8,268

-5,801

-1,176

-4,325

-3,956

-1,678

-6,035

-2,541

-5,186

-4,525

-4,291

-3,498

-2,465

-2,454

-537

-1,452

-2,546

-2,109

-3,588

0

0

0

Prepaid taxes and expenses

314

11

-1,322

66

861

2,478

3,091

2,166

677

-1,067

-1,609

11

237

-269

-168

-6,742

1,144

-413

1,750

5,813

406

2,396

394

-1,556

-2,669

-3,107

-4,480

-4,845

1,013

986

2,360

5,846

2,693

3,031

2,697

-4

0

0

0

Other assets

811

662

776

-145

-451

-944

-384

-545

-345

90

-78

29

-58

158

593

516

949

749

-20

18

29

-39

-95

-159

-81

-117

74

111

-177

259

111

311

184

-279

-23

-298

0

0

0

Accounts and taxes payable

1,605

2,166

3,353

-1,975

-1,643

-1,742

-4,688

-3,130

4,396

2,762

4,828

3,350

898

-2,818

-1,499

-2,537

-1,560

1,311

-2,090

-2,695

-5,477

-3,015

-70

2,535

2,522

3,677

6,119

814

-475

-6,773

-8,345

-1,817

-1,372

4,425

4,149

85

0

0

0

Accrued liabilities

12,913

11,428

18,791

20,905

9,185

15,593

14,049

11,068

21,493

15,824

13,599

6,286

9,312

8,586

5,830

8,864

10,504

9,944

10,337

4,943

4,640

6,971

5,659

14,207

12,524

13,109

8,694

7,179

2,135

1,504

-7,080

-8,259

1,636

1,926

12,115

13,012

0

0

0

Operating lease liabilities

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by operating activities

77,033

76,478

82,195

78,639

80,177

80,155

63,579

62,152

65,421

62,102

65,288

52,052

51,008

47,268

44,330

51,311

48,018

53,268

49,766

44,316

42,299

41,918

47,681

54,800

56,840

59,480

58,146

54,819

51,237

43,658

33,959

35,672

34,897

37,059

49,322

45,062

0

0

0

Investment in private equity

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

600

600

1,200

1,200

1,400

0

0

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of property and equipment

32,712

26,343

20,335

15,274

21,661

22,734

25,359

27,689

30,204

31,626

31,055

31,041

22,028

19,574

17,345

16,756

19,963

21,020

22,976

22,868

20,473

19,230

17,455

18,344

18,358

17,540

16,960

14,887

15,705

17,890

19,655

23,214

21,600

21,130

20,377

18,504

0

0

0

Net cash used in investing activities

-32,712

-26,343

-20,335

-15,274

-21,661

-22,734

-25,359

-27,689

-29,920

-31,342

-31,021

-31,007

-22,278

-19,824

-17,345

-17,356

-20,563

-22,220

-24,176

-24,268

-21,873

-20,030

-18,255

-18,344

-18,358

-17,540

-16,960

-14,887

-15,705

-17,935

-19,700

-23,259

-21,645

-22,365

-21,612

-19,739

0

0

0

Cash Flows from Financing Activities
Purchase of treasury stock

60,088

52,181

40,800

35,167

22,591

11,302

3,486

11,187

24,061

34,987

37,538

27,999

19,872

16,949

24,097

31,525

35,923

37,415

35,149

31,798

25,857

20,585

25,596

27,179

31,026

43,542

34,362

30,727

29,055

18,575

21,643

21,643

24,092

28,835

28,812

30,608

0

0

0

Exercise of common stock options

8,422

9,343

9,522

7,241

6,478

5,403

3,907

3,426

2,903

1,917

1,602

2,367

3,076

3,982

4,632

3,749

3,114

2,383

1,797

1,603

2,166

2,432

2,944

3,386

3,381

4,275

3,173

3,399

2,880

2,539

2,853

2,241

3,303

3,301

4,617

4,728

0

0

0

Tax effect of stock option exercises

-

-

-

-

-

-

-

-

-

-

0

-

-

1,107

1,241

713

448

328

330

397

1,163

1,850

1,980

2,035

827

-808

156

308

1,022

1,868

1,201

996

1,519

2,213

2,303

2,267

0

0

0

Net cash used in financing activities

-51,176

-42,348

-30,775

-27,423

-15,626

-5,421

111

-7,303

-20,717

-33,489

-35,492

-25,213

-16,425

-11,469

-17,853

-26,692

-31,980

-34,323

-32,622

-29,398

-22,143

-15,918

-20,326

-21,412

-26,505

-39,762

-30,720

-26,707

-24,828

-13,843

-17,268

-18,085

-18,956

-23,007

-21,575

-23,296

0

0

0

(Decrease)/increase in cash and cash equivalents

-6,855

7,787

31,085

35,942

42,890

52,000

38,331

27,160

14,784

-2,729

-1,225

-4,168

12,305

15,975

9,132

7,263

-4,525

-3,275

-7,032

-9,350

-1,717

5,970

9,100

15,044

11,977

2,178

10,466

13,225

10,704

11,880

-3,009

-5,672

-5,704

-8,313

6,135

2,027

0

0

0

Supplemental Cash Flow Information:
Income taxes paid

15,850

15,426

13,108

12,854

15,259

16,617

16,133

16,229

14,293

14,016

16,655

18,321

10,330

16,145

15,246

13,589

20,694

15,842

19,506

19,528

23,478

23,835

20,674

20,791

16,239

14,241

9,853

9,663

6,987

8,657

12,754

12,935

17,493

14,863

13,204

13,740

0

0

0

Purchase of software license under finance agreement

3,790

3,790

5,685

0

0

0

0

-

-

-

-

3,492

6,741

6,741

5,415

3,249

0

0

0

-

-

-

1,172

2,343

0

0

0

-

-

-

-

-

-

-

-

1,700

0

0

0