Costar group, inc. (CSGP)
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
Operating activities:
Net income

72,793

87,927

78,619

63,248

85,169

83,509

58,759

43,835

52,231

44,204

34,177

22,184

22,130

29,573

23,201

15,576

16,721

22,990

-5,362

-14,966

-6,127

13,923

12,957

8,249

9,740

12,799

11,052

8,293

-2,410

4,714

6,779

-6,710

5,132

5,176

2,311

2,637

4,532

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

24,256

23,930

18,822

18,754

19,659

19,743

20,433

20,584

16,983

15,366

15,119

15,860

17,298

17,124

18,080

17,440

17,521

64,087

5,261

4,996

4,188

59,283

3,928

3,621

3,540

3,321

3,257

3,008

2,909

2,850

2,731

2,328

2,144

2,045

1,949

2,132

2,309

Amortization of deferred commissions costs

14,747

14,232

13,639

13,143

12,407

12,071

11,967

12,269

12,006

0

0

0

0

-

-

-

-

-

17,259

13,678

13,625

-

16,284

17,049

6,311

6,500

6,765

7,041

7,257

7,703

7,964

5,856

1,176

1,164

1,054

1,076

1,123

Amortization of debt issuance costs

292

219

219

219

219

219

221

217

219

146

670

715

772

820

797

799

811

825

830

829

827

853

904

845

710

741

760

766

747

754

763

472

0

-

-

-

-

Impairment loss

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

1,376

1,402

0

746

0

1,053

0

0

0

0

-

-

-

-

-

-

-

-

Realized loss on investments

-541

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash lease expense

6,261

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefit from stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

418

5,457

2,095

239

1,348

3,390

23,429

4,180

5,655

2,445

7,305

255

-57

-465

465

1,108

186

652

595

Stock-based compensation expense

15,180

13,271

13,139

13,816

12,029

10,621

8,953

11,228

10,412

9,827

9,743

10,103

9,357

9,368

9,311

9,339

8,331

9,368

9,312

8,415

7,442

7,361

6,647

6,380

7,879

9,279

7,788

7,156

17,326

3,615

3,739

2,741

2,187

1,993

1,845

2,201

2,064

Deferred income taxes, net

2,825

-5,068

6,929

2,657

3,702

-3,978

3,353

2,440

1,851

-8,990

2,653

1,343

2,091

10,081

2,080

1,768

1,706

7,910

2,082

-19,670

3,886

-130

-3,669

-2,657

5,090

-6,292

-329

1,538

-7,657

1,815

3,298

8,351

179

-496

-2,150

-14,923

465

Credit loss expense

6,183

3,520

2,234

3,039

2,185

2,023

1,662

1,426

1,431

1,698

1,643

549

1,800

896

1,354

2,890

2,218

1,512

1,940

1,992

1,558

1,024

1,762

1,050

986

498

776

722

321

38

443

617

358

485

175

328

537

Changes in operating assets and liabilities:
Accounts receivable

26,613

-3,783

-2,101

5,063

5,835

8,781

13,949

2,578

2,511

1,715

10,632

2,417

2,760

2,236

2,940

1,573

9,295

-9,280

-1,371

6,010

8,640

778

1,217

-2,141

12,499

-1,698

-1,180

1,105

8,380

-4,907

2,283

1,242

87

-2,291

5,780

-2,565

3,649

Income taxes payable

1,624

-

-

-

8,311

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Prepaid expenses and other current assets

-1,838

13,490

2,505

-1,545

-206

-1,301

-14,703

8,133

9,522

111

-4,326

7,528

359

-241

-1,218

3,158

-542

-104

-986

157

566

540

-900

1,697

1,509

-3,467

1,523

-1,315

325

1,468

218

1,768

-138

-1,627

729

1,512

-1,660

Deferred commissions

-16,523

-17,897

-15,394

-19,668

-13,729

-12,076

-11,867

-13,291

-16,263

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other assets

1,215

-16,974

5,231

11,154

-59

1,608

48

1,968

-3,412

3,426

-3,284

14

-117

285

-9

243

239

275

302

192

-83

-89

65

-172

39

179

21

-123

322

-114

50

1,377

-141

-666

135

30

347

Accounts payable and other liabilities

15,564

22,090

-8,476

-10,931

15,068

-689

3,176

-20,907

4,288

-363

11,283

-10,983

11,588

-14,384

7,908

-3,456

8,412

-20,147

4,273

12,581

13,231

-18,634

13,634

17,069

-5,991

-21,295

6,545

7,281

3,587

-2,593

-1,280

10,585

-5,083

-1,935

1,484

5,618

-2,939

Lease liabilities

-6,967

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred revenue

18,248

-4,614

1,892

1,925

8,708

1,425

3,908

-2,726

5,272

35

2,246

966

2,757

1,684

766

-1,530

1,150

-1,616

4,924

-1,012

1,521

-63

1,109

1,401

1,525

-644

624

-2,588

4,316

-118

3,937

1,125

843

2,793

1,083

-1,374

1,832

Net cash provided by operating activities

131,464

107,763

116,450

85,073

148,494

114,774

101,367

46,332

72,985

71,396

67,944

30,806

64,557

52,182

61,766

38,338

48,356

70,057

42,760

-3,213

30,169

47,873

52,702

49,889

-6,555

35,470

31,261

30,859

10,708

29,568

25,980

24,197

6,381

8,078

4,423

7,598

7,686

Investing activities:
Proceeds from sale and settlement of investments

10,259

-

-

-

0

-

-

-

-

-

-

-

-

1,250

0

0

4,700

0

550

700

650

4,525

600

550

0

-11

9

-5

83

745

4,152

9,223

1,245

4,096

582

200

33

Proceeds from sale of building, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

83,553

Purchases of property and equipment and other assets

7,133

2,035

29,775

4,958

9,429

7,831

5,950

7,234

8,617

4,745

7,080

6,528

6,146

7,074

4,298

3,600

3,794

7,108

10,023

6,186

11,744

6,579

9,428

7,288

4,149

3,711

6,419

4,269

4,643

5,832

2,885

3,105

3,012

2,841

2,285

4,115

5,772

Cash paid for acquisitions, net of cash acquired

432

423,835

0

13,721

0

78,295

0

0

340,074

1

2,699

31,395

13,673

0

-352

10,305

490

4,865

4,809

172,667

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) investing activities

2,694

-425,870

-29,775

-18,679

-9,429

-86,126

-5,950

-7,234

-348,691

-4,746

-9,779

-37,923

-19,819

-5,824

-3,946

-13,905

416

-11,973

-14,282

-178,153

-11,094

-2,054

-8,828

-590,956

-4,149

-3,722

-6,410

-4,274

-4,560

-5,087

1,267

-634,811

-1,767

-13,830

-1,703

-3,915

77,814

Financing activities:
Proceeds from long-term debt

745,000

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments of long-term debt

-

-

-

-

-

-

-

-

-

310,000

0

0

35,000

0

0

15,000

5,000

5,000

5,000

5,000

5,000

5,000

5,000

303,750

4,375

4,375

4,375

4,375

4,375

0

2,188

2,187

0

-

-

-

-

Payments of debt issuance costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

11,421

125

0

0

0

0

Excess tax benefit from stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

418

5,457

2,095

239

1,348

3,390

23,429

4,180

5,655

2,445

7,305

255

-57

-465

465

1,108

186

652

595

Repurchase of restricted stock to satisfy tax withholding obligations

30,144

2,537

815

5,546

18,679

661

1,272

7,002

15,392

593

853

7,675

5,781

1,851

606

9,132

4,835

620

443

10,170

5,203

557

243

7,200

42,555

906

359

4,060

3,144

387

1,577

629

1,611

335

195

301

1,476

Proceeds from exercise of stock options and employee stock purchase plan

10,295

2,110

6,275

4,634

12,061

1,303

11,554

3,598

10,616

830

1,375

6,449

1,234

1,070

954

2,657

1,180

2,054

646

649

4,055

583

1,610

546

3,001

2,287

6,937

2,102

6,807

2,201

2,635

4,575

457

1,640

442

3,384

1,156

Payments of deferred consideration

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,688

0

0

-1,344

0

0

0

-1,344

0

0

0

0

-

-

-

-

Net cash provided by (used in) financing activities

725,151

-1,961

5,460

-1,035

-6,618

642

10,282

-3,404

-4,776

521,324

-121

-1,226

-39,547

-781

348

-21,475

-8,655

-11,536

-4,379

-9,064

-4,053

-4,735

-2,285

762,377

-21,844

1,186

7,858

-3,888

5,249

2,069

-1,187

164,873

-814

313

433

251,659

275

Effect of foreign currency exchange rates on cash and cash equivalents

-2,117

1,180

-328

-364

-46

-660

-191

-845

448

494

313

509

58

-453

-220

-527

-215

-239

-371

440

-263

-267

-251

104

38

81

128

10

-30

15

64

-17

16

-21

-30

23

72

Net increase in cash, cash equivalents and restricted cash

857,192

-318,888

91,807

64,995

132,401

28,630

105,508

34,849

-280,034

588,468

58,357

-7,834

5,249

45,124

57,948

2,431

39,902

46,309

23,728

-189,990

14,759

40,817

41,338

221,414

-32,510

33,015

32,837

22,707

11,367

26,565

26,124

-445,758

3,816

-5,460

3,123

255,365

85,847

Supplemental cash flow disclosures:
Interest paid

499

498

493

488

519

422

618

0

381

324

2,231

2,554

1,336

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income taxes paid

1,111

27,236

13,215

27,963

521

10,436

768

24,243

533

15,020

22

25,807

434

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Supplemental non-cash investing and financing activities:
Stock issued in connection with acquisition - ForRent

-

-

-

-

-

0

0

0

36,366

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-