Corecivic, inc. (CXW)
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'11Dec'10Sep'10Jun'10Mar'10
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income

33,238

41,974

48,994

48,578

49,340

41,239

40,994

39,197

37,777

41,340

41,178

45,475

50,047

60,689

55,340

57,583

46,307

48,598

50,676

65,303

57,277

30,006

57,546

55,732

51,738

47,471

51,843

20,429

181,092

45,408

42,339

37,334

31,680

40,522

39,240

42,418

40,330

43,705

41,964

36,618

34,906

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

37,952

36,804

36,654

35,591

35,523

40,387

39,465

38,560

38,089

37,565

36,507

36,800

36,257

39,418

42,924

42,345

42,059

43,199

41,230

38,400

28,685

28,512

28,277

28,752

28,384

29,489

28,275

28,097

27,630

28,632

28,612

28,302

28,387

28,048

26,637

27,191

27,055

27,336

26,574

27,165

25,198

Asset impairments

536

-

-

-

-

-

-

-

-

0

355

0

259

-

-

-

-

0

0

0

955

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of debt issuance costs and other non-cash interest

1,356

785

854

855

857

857

857

814

891

873

783

783

783

785

785

785

792

787

634

776

776

777

777

777

771

769

774

919

1,047

1,036

1,056

1,071

1,153

1,097

1,093

1,075

1,066

1,053

1,061

1,062

1,074

Expenses associated with debt refinancing transactions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

36,303

225

103

168

287

1,541

-

-

-

-

-

-

-

-

Deferred income taxes

2,395

2,842

-93

-5,051

1,140

-2,941

-2,778

446

837

2,646

-3,923

331

1,867

-1,762

-4,199

1,175

875

4,463

-1,368

1,974

637

437

-3,741

1,088

-995

-4,156

-926

-3,093

-142,862

2,176

918

3,280

-613

2,932

5,783

4,560

6,046

6,835

11,018

5,213

3,137

Non-cash revenue and other income

2,705

2,698

2,705

2,952

2,937

2,938

2,937

4,316

4,318

4,318

-530

5,369

5,371

3,996

2,318

1,708

496

496

1,152

495

496

496

495

2,393

496

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income tax benefit of equity compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-13

1,467

9

16

-4

54

96

379

443

105

14

103

311

9

8

23

417

9

206

2,076

73

78

951

860

1,769

363

1,033

1,206

Non-cash equity compensation

4,610

4,552

4,647

4,256

3,812

3,374

2,292

3,980

3,486

1,083

4,058

4,059

4,086

3,874

6,156

4,092

3,781

3,878

3,808

3,910

3,798

3,537

3,514

3,631

3,293

3,270

3,284

3,197

3,214

3,209

3,213

3,264

2,639

2,596

2,557

2,516

2,715

2,320

2,485

2,581

2,260

Other expenses and non-cash items

3,810

3,898

3,177

2,535

3,423

2,433

2,257

1,280

1,939

1,292

1,011

1,133

831

1,629

1,444

1,405

787

1,360

159

668

1,545

991

978

309

2,316

1,015

855

656

97

422

-264

744

182

232

93

436

798

135

385

-17

142

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

-7,648

8,924

2,174

3,276

2,564

34,788

7,864

18,067

-41,249

13,014

28,851

-5,950

-22,002

6,621

1,399

16,935

-39,014

-10,952

15,810

16,806

-22,930

28,915

-26,562

17,806

-7,610

16,951

-16,145

11,089

-28,578

16,727

-13,908

5,268

-20,276

498

3,879

-6,359

-44,959

-37,711

84,346

26,714

-2,385

Accounts payable, accrued expenses and other liabilities

-14,780

-29,751

53,670

-639

-11,921

-10,973

27,459

14,439

-12,394

8,805

29,389

3,878

-19,785

-20,289

-11,360

5,557

-13,311

-19,121

11,219

3,904

1,788

111,720

1,152

-3,821

-26,655

19,480

-802

9,648

-4,416

-4,058

3,171

6,313

-29,645

17,765

-2,623

3,688

-21,286

-2,356

30,295

-4,023

-2,867

Income taxes payable

1,317

-

-5,574

4,196

1,150

-

1,175

-3,757

923

-

315

-1,748

515

446

1,955

-1,273

517

433

451

523

-330

922

318

-1,169

719

590

321

-1,692

2,273

421

-73

-13,416

14,783

457

-106

-8,964

10,130

1,313

365

-4,883

7,112

Net cash provided by operating activities

75,377

50,312

137,450

88,799

77,823

38,309

100,920

75,172

108,479

77,190

81,352

91,292

91,491

74,186

87,861

93,017

120,309

94,057

90,494

98,061

117,186

174,892

114,783

67,324

66,582

85,900

100,745

86,004

96,855

60,205

93,039

61,705

68,307

93,078

68,717

78,328

110,953

116,283

29,438

37,653

72,141

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

22,233

14,050

37,259

48,782

36,037

22,489

22,586

9,717

3,447

1,033

2,681

7,445

6,417

10,931

12,160

10,932

7,793

21,033

31,299

49,182

63,366

38,613

19,428

9,243

18,507

9,663

7,465

6,645

4,182

4,997

8,584

7,437

9,406

88,080

15,730

15,858

6,014

13,808

13,154

38,240

36,618

Expenditures for other capital improvements

8,618

21,557

12,090

13,573

9,972

19,294

13,178

13,681

17,285

20,954

14,285

12,756

8,173

18,873

12,079

14,405

6,290

20,327

13,198

11,327

14,562

17,770

10,693

12,279

8,573

21,088

11,369

8,897

7,216

13,276

10,218

12,062

13,458

17,927

14,405

9,198

6,728

16,883

9,956

8,535

6,469

Capitalized lease payments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

9,878

8,309

16,283

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisitions, net of cash acquired

8,849

9,106

711

7,648

30,931

14,531

110,598

1,998

48,461

19,693

15,097

7,015

7,062

0

151

41,838

1,780

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Decrease in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-240

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of assets

42

4

18

3,942

331

305

12,457

101

48

39

831

23

77

220

0

8,053

139

62

444

12

45

4,330

102

512

192

555

386

13

44

1,342

1

54

441

56

631

17

181

22

16

23

25

Increase in other assets

2,411

1,826

1,934

2,017

1,391

4,412

638

948

705

1,161

7,337

-3,332

-1,561

-3,485

-325

-172

-661

-1,580

-184

126

-2,048

3,068

74

-2,355

314

893

304

1,340

723

1,240

541

1,416

830

496

513

1,011

228

679

229

762

205

Payments received on direct financing lease and notes receivable

-

-

-

-

-

-

-

-

-

0

0

0

684

664

644

625

606

588

571

554

537

521

506

491

476

461

522

435

422

551

397

385

374

491

352

342

330

322

311

303

293

Net cash used in investing activities

-42,069

-46,535

-51,976

-68,078

-78,000

-60,421

-134,543

-26,243

-69,850

-42,802

-38,569

-23,861

-19,330

-25,675

-23,421

-58,325

-14,217

-183,602

-66,323

-67,775

-91,581

-55,393

-99,587

-15,181

-26,726

-42,944

-53,830

-17,083

-11,655

-17,620

-18,945

-20,476

-22,879

-105,956

-27,916

-25,708

-12,459

-31,026

-23,012

-47,211

-42,974

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

374,000

718,127

79,420

152,003

197,141

118,968

132,342

469,021

89,500

278,000

77,000

60,500

60,000

97,750

90,250

146,000

55,000

285,000

362,000

90,000

70,000

65,000

110,000

40,000

35,000

100,000

200,000

973,000

10,000

80,000

50,000

140,000

618,500

110,000

193,000

51,202

29,421

55,000

74,333

36,834

5,000

Scheduled principal repayments

7,553

4,184

4,165

2,896

2,876

2,857

1,978

290

2,691

2,500

2,500

2,500

2,500

1,250

1,250

1,250

1,250

-

280,000

92,000

30,000

-150,000

65,000

40,000

45,000

80,000

165,000

848,000

105,000

100,000

110,000

130,000

683,500

75,000

88,000

60,000

73,589

135,000

25,000

0

5,000

Principal repayments of credit facility

108,000

-

-

-

153,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other principal repayments of debt

-

-

-

-

-

-

17,000

440,500

66,000

-

71,000

72,500

72,000

80,750

116,250

96,000

100,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of debt issuance and other refinancing and related costs

285

4,181

22

8

85

54

696

4,493

844

4,104

0

0

65

0

0

2

66

-

-

-

-

-

-

-

-

107

39

34,788

2,415

8

1

35

6,292

-

-

-

-

-

-

-

-

Payment of lease obligations for financing leases

135

135

135

134

134

1,065

1,876

57

746

692

642

596

553

1,228

3,859

3,442

3,260

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Contingent consideration for acquisition of businesses

-

0

0

1,020

6,378

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income tax benefit of equity compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-13

1,467

9

16

-4

54

96

379

443

105

14

103

311

9

8

23

417

9

206

2,076

73

78

951

860

1,769

363

1,033

1,206

Decrease in restricted cash for dividends

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

550

0

0

0

500

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Dividends paid

54,527

52,389

52,389

52,379

52,365

51,179

50,953

50,960

51,106

49,635

49,627

49,602

51,462

63,475

63,471

63,442

65,108

63,244

63,190

63,125

61,136

59,362

59,217

59,202

56,267

55,652

55,171

188,439

172

-

-

-

-

-

-

-

-

-

-

-

-

Purchase and retirement of common stock

3,560

1

0

460

3,070

461

0

19

2,525

29

0

729

5,089

15

44

419

3,528

0

22

171

9,261

984

249

35

2,768

1,239

0

24

5,430

327

0

90

2,391

14,547

152,711

28,911

43,678

17,421

44,829

55,540

31,040

Proceeds from exercise of stock options

-

1

0

668

207

-

-

-

-

20

137

1,416

4,961

0

605

954

1,079

146

1,917

2,095

3,542

6,101

1,497

1,014

3,838

1,633

6,444

6,867

15,227

918

1,937

377

1,701

226

167

969

775

1,465

406

2,805

1,925

Net cash provided by (used in) financing activities

199,940

42,238

-99,291

12,774

-20,560

-8,479

61,820

-28,798

-34,412

-24,940

-46,632

-64,011

-66,708

-53,531

-92,552

-18,665

-116,567

76,434

13,162

-63,239

-25,976

-93,953

-12,964

-58,209

-65,094

-35,260

-14,567

-91,376

-87,767

-38,930

-77,982

-9,453

-69,906

20,752

-47,466

-35,789

-86,211

-94,187

5,273

-14,868

-27,909

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

233,248

46,015

-13,817

33,495

-20,737

-30,591

28,197

20,131

4,217

9,448

-3,849

3,420

5,453

-5,020

-28,112

16,027

-10,475

-13,111

37,333

-32,953

-371

25,546

2,232

-6,066

-25,238

7,696

32,348

-22,455

-2,567

3,655

-3,888

31,776

-24,478

7,874

-6,665

16,831

12,283

-8,930

11,699

-24,426

1,258

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

52,217

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Establishment of right of use assets and lease liabilities

62

33,226

21,656

147

82,917

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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)

12,881

37,761

6,937

22,478

18,522

33,632

4,397

30,480

3,278

17,355

11,344

17,887

10,899

17,740

9,571

25,053

3,602

16,595

1,788

16,510

2,099

17,403

2,613

17,436

2,476

18,464

2,679

16,832

2,801

21,965

6,372

22,554

16,052

18,179

16,922

18,441

17,460

18,783

16,783

17,367

16,188

Income taxes refunded, net

-285

-

-

-

-

4,015

1,697

7,486

105

-

-

-

-

25

8,358

1,508

-12,028

3,108

152

5,539

1,167

5,418

5,602

8,473

224

1,356

2,336

3,531

199

24,219

20,647

37,800

1,198

12,249

16,631

41,465

-4

17,183

17,226

26,935

52