Corecivic, inc. (CXW)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09Dec'08
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income

188,886

159,207

178,040

219,919

221,854

195,022

300,835

156,761

162,510

157,193

154,954

150,941

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

144,572

156,501

147,129

166,746

151,514

113,925

113,491

113,933

108,931

106,273

100,803

91,461

Asset impairments

4,706

1,580

614

-

955

30,082

9,150

-

-

-

-

-

Goodwill impairment

-

-

-

-

-

-

-

-

-

1,684

-

-

Amortization of debt issuance costs and other non-cash interest

3,351

3,419

3,222

3,147

2,973

3,102

3,509

4,316

4,331

4,250

4,017

3,812

Expenses associated with debt refinancing transactions

602

1,016

-

-

701

0

36,528

2,099

-

-

3,838

-

Deferred income taxes

-1,162

-4,436

921

-3,911

5,706

-3,211

-151,037

5,761

19,321

26,203

22,622

29,813

Non-cash revenue and other income

11,292

14,509

14,528

8,518

2,639

3,880

294

-

-

-

-

-

Income tax benefit of equity compensation

-

-

-

1,479

525

665

351

2,708

1,962

4,371

6,896

9,044

Non-cash equity compensation

17,267

13,132

13,286

17,903

15,394

13,975

12,965

12,325

10,384

9,646

9,828

9,679

Other expenses and non-cash items

13,033

7,909

4,267

5,265

3,732

4,594

2,623

1,084

1,559

645

503

1,236

Changes in assets and liabilities, net:
Accounts receivable, prepaid expenses and other assets

16,938

19,470

13,913

-14,059

-1,266

12,549

-16,683

-12,189

-46,941

70,964

-20,767

25,150

Accounts payable, accrued expenses and other liabilities

11,359

18,531

22,287

-39,403

-2,210

82,396

23,910

-24,219

-2,456

21,049

-2,672

12,307

Income taxes payable

-

-

-

1,645

1,077

790

1,492

1,715

1,517

3,907

6,927

8,530

Net cash provided by operating activities

354,384

322,880

341,325

375,373

399,798

423,581

369,504

283,256

351,076

255,515

314,691

273,585

CASH FLOWS FROM INVESTING ACTIVITIES:
Expenditures for facility development and expansions

136,128

58,239

17,576

41,816

164,880

85,791

27,955

30,424

125,682

101,820

94,313

480,511

Expenditures for other capital improvements

57,192

63,438

56,168

51,647

59,414

49,315

48,570

49,014

48,258

41,843

48,644

35,135

Capitalized lease payments

-

-

-

-

34,470

70,793

-

-

-

-

-

-

Acquisitions, net of cash acquired

48,396

175,588

48,867

43,769

158,366

0

36,252

-

-

-

-

-

Cash paid for leasehold incentive

-

-

-

-

-

-

12,765

-

-

-

-

-

Decrease in restricted cash

-

-

-

-

-1,350

-2,983

-452

-

-1,749

-

-

-

Proceeds from sale of assets

4,295

12,911

970

8,412

563

5,136

998

1,838

885

86

273

1,002

Increase in other assets

7,168

6,703

3,605

-4,643

-3,686

1,101

3,260

4,027

2,248

1,875

2,285

684

Payments received on direct financing lease and notes receivable

-

-

684

2,539

2,250

1,994

1,840

1,707

1,515

1,229

1,089

965

Net cash used in investing activities

-244,589

-291,057

-124,562

-121,638

-409,281

-196,887

-125,512

-79,920

-172,039

-144,223

-143,880

-514,363

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of debt and borrowings from credit facility

1,146,691

809,831

475,500

389,000

807,000

250,000

1,283,000

888,500

383,623

171,167

587,478

293,800

Scheduled principal repayments

14,121

7,816

10,000

5,000

-

0

1,198,000

1,023,500

296,589

165,000

631,334

76,555

Principal repayments of credit facility

648,000

603,500

461,500

-

-

-

-

-

-

-

-

-

Satisfaction and discharge of senior notes

-325,000

-

-

-

-

-

-

-

-

-

-

-

Other principal repayments of debt

-

-

-

393,000

543,000

255,000

-

-

-

-

-

-

Payment of debt issuance and other refinancing and related costs

4,296

6,087

4,169

68

5,727

0

37,349

6,336

-

-

11,485

89

Payment of lease obligations for financing leases

538

3,744

2,483

11,789

6,468

0

-

-

-

-

-

-

Contingent consideration for acquisition of businesses

7,398

1,500

-

5,073

-

0

-

-

-

-

-

-

Income tax benefit of equity compensation

-

-

-

1,479

525

665

351

2,708

1,962

4,371

6,896

9,044

Decrease in restricted cash for dividends

-

-

-

-

500

-251

-1,016

-

-

-

-

-

Dividends paid

209,522

204,198

200,326

255,496

250,695

234,048

299,434

59,768

-

-

-

-

Proceeds from sale/leaseback

-

7,783

-

-

-

-

-

-

-

-

-

-

Purchase and retirement of common stock

3,531

3,005

5,847

4,006

9,454

4,036

6,693

2,808

239,847

148,830

125,701

19,621

Proceeds from exercise of stock options

876

2,367

6,534

2,638

7,700

12,450

30,171

4,933

2,137

6,601

15,166

10,308

Net cash provided by (used in) financing activities

-64,839

-9,869

-202,291

-281,315

381

-230,220

-228,970

-196,271

-148,714

-131,691

-158,980

216,887

NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH

44,956

21,954

14,472

-27,580

-9,102

-3,526

15,022

7,065

30,323

-20,399

11,831

-23,891

NON-CASH INVESTING AND FINANCING ACTIVITIES
Debt assumed on acquisition of property portfolio

-

157,280

-

-

-

-

-

-

-

-

-

-

Establishment of right of use assets and lease liabilities

137,946

-

-

-

-

-

-

-

-

-

-

-

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid during the period for:
Interest (net of amounts capitalized of $0.5 million and $0.9 million in 2020 and 2019, respectively)

85,698

71,787

57,485

55,966

36,992

39,928

40,776

66,943

71,002

69,121

74,466

58,531

Income taxes refunded, net

16,437

13,303

8,089

-2,137

9,966

19,717

7,422

83,864

70,341

61,396

63,534

54,914