DENNY’S CORPORATION DENN Cash Flow

Denny’s corporation (DENN)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11
Cash flows from operating activities:
Net income
9,013	18,559	49,122	34,239	15,490	11,503	10,805	11,626	9,759	13,147	9,325	8,749	8,373	11,274	9,726	-11,552	9,954	8,759	8,950	9,734	8,533	9,678	8,343	8,273	6,431	4,262	7,031	6,198	7,081	6,480	5,363	4,601	5,865	92,048	7,985	8,130	4,124
Adjustments to reconcile net income to cash flows provided by operating activities:
Depreciation and amortization
4,146	4,227	4,338	5,048	6,233	7,074	6,760	6,691	6,514	6,227	5,958	5,799	5,736	5,971	5,609	5,105	5,493	5,712	5,422	5,314	5,024	5,514	5,185	5,281	5,238	5,727	5,198	5,352	5,224	5,130	5,287	5,827	6,060	6,602	6,955	7,234	7,188
Operating (gains), losses and other charges, net
-1,473	5,721	50,091	26,433	8,935	-1,005	-793	-462	-360	-870	-630	-2,046	-783	-2,545	-249	-24,241	125	-644	-886	-228	-608	-221	-587	-40	-422	-5,292	-3,397	1,484	134	312	3,380	-4,009	-165	1,259	1,791	-419	-529
Amortization of deferred financing costs
152	152	152	152	152	152	152	151	152	150	149	149	148	148	149	148	148	141	123	123	120	121	120	121	121	121	120	123	133	136	136	164	339	351	361	370	292
Gains on investments
116	1	73	67	39	9	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of debt discount
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	16	121	129	134	140	144
Losses (gains) on early extinguishments of debt and leases
-28	-153	74	9	74	12	-2	161	0	-62	0	5	-73	2	-49	44	8	35	6	12	-278	-21	53	0	1	-428	-111	-1,338	-349	-110	-28	-7,935	-217	-302	-303	-267	-1,717
Deferred income tax expense
-2,577	6,411	4,650	3,468	1,476	1,149	2,148	1,778	1,118	335	3,645	3,066	3,225	-98	3,552	1,668	3,722	4,993	2,713	3,474	2,826	5,097	2,638	3,321	2,159	859	3,365	2,001	2,875	2,435	2,639	3,294	3,055	3,166	23	22	12
Gain on the change in fair value of interest rate caps
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	22	0	-1	-10	-14	-64	38	-2	1	-103	41	0	-	-	-	-
Share-based compensation (benefit) expense
-1,537	-448	2,176	2,713	2,253	2,377	1,100	1,211	1,350	1,995	2,493	2,080	1,973	1,985	1,775	1,902	1,948	1,130	1,941	1,859	1,705	2,853	649	1,180	1,164	1,418	1,053	1,206	1,175	702	1,128	876	790	1,039	1,031	1,176	973
Changes in assets and liabilities:
Receivables
-15,815	10,125	-550	-117	-7,428	8,304	-1,259	-502	-1,821	4,086	462	-396	-3,345	5,504	-127	179	-2,634	3,186	-432	-420	-3,774	3,781	671	-160	-2,836	3,403	-1,533	412	-2,398	2,774	-243	1,207	-1,998	1,935	-2,238	538	-2,467
Inventories
4	-143	-879	-525	-121	-58	-45	-5	-33	137	54	-40	41	37	214	-66	-256	210	87	141	-272	209	-29	-145	36	-9	52	-87	35	44	-121	-372	-99	-81	-124	-218	-175
Other current assets
-4,111	3,940	-4,580	7,652	-2,904	371	-1,545	2,992	-2,739	3,214	2,753	-456	-3,131	2,040	613	-2,688	-4,587	3,460	1,370	-190	-822	1,348	1,260	-871	-1,478	1,307	1,427	-1,500	-2,218	1,065	1,812	-2,660	-3,037	1,294	-143	-170	131
Other assets
-1,578	1,500	9,191	-7,465	1,355	-567	120	285	160	1,259	1,199	1,557	2,312	1,782	687	466	647	804	-455	-1,114	843	450	285	797	586	711	294	69	1,036	623	503	982	1,064	560	-783	802	-984
Operating lease assets/liabilities
18	-	-	-	234	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable
-7,465	4,241	-7,221	-719	-1,471	6,801	-4,668	2,585	-9,865	15,146	-3,135	291	-2,277	4,853	588	-1,694	1,023	1,211	1,471	-62	-275	-236	-781	-728	3,306	-2,059	-727	-76	-2,658	3,331	1,233	-392	-5,389	4,187	-2,282	1,470	-1,333
Accrued salaries and vacations
-12,783	2,398	-1,627	1,842	-6,439	3,033	1,171	2,019	-4,048	2,648	598	1,892	-11,584	3,636	1,724	3,703	-16,433	6,338	1,814	5,241	-9,333	3,268	2,654	693	-3,967	544	1,694	791	-5,574	1,033	1,607	277	-638	-1,069	1,450	-986	1,539
Accrued taxes
-971	-1,519	428	-458	-494	-1,691	1,546	390	38	-1,497	1,198	491	-215	-1,551	1,553	367	-273	-1,207	1,686	-259	-38	-882	1,695	378	-320	-1,722	1,463	477	-117	-1,887	1,275	-80	-55	-2,140	1,441	344	-265
Other accrued liabilities
-6,337	1,400	-1,280	1,235	-5,499	6,057	-1,381	-404	-5,948	4,969	-4,469	839	-1,204	6,410	-3,222	-10,479	-2,926	16,134	-3,519	-374	-2,762	5,551	977	-2,453	-3,961	3,269	-85	-1,251	-2,679	1,305	-808	-503	-4,414	35	1,175	-5,740	-157
Other noncurrent liabilities
-2,607	-170	10,130	-9,013	951	-2,079	-994	-932	-413	-828	-1,217	65	-1,133	2,090	-85	-1,291	-684	-9,672	-872	-584	-88	1,207	-1,518	115	-963	5	1,186	-1,744	-2,135	298	-1,543	-1,148	-1,370	-197	-1,983	-714	-2,607
Net cash flows provided by operating activities
1,901	11,301	6,871	12,687	12,468	27,431	20,163	22,646	3,450	34,744	10,707	24,797	8,021	28,030	20,280	14,183	8,669	26,358	20,039	26,265	10,623	26,333	18,309	16,601	13,331	12,326	20,394	16,967	7,355	15,181	17,795	17,742	8,486	12,902	21,672	10,342	14,593
Cash flows from investing activities:
Capital expenditures
2,818	1,329	5,869	3,668	3,109	4,731	7,782	5,364	4,148	5,253	5,350	5,191	3,017	5,134	6,642	4,142	3,831	8,545	7,651	7,335	3,446	4,196	4,354	6,669	6,857	7,357	4,074	2,381	3,006	6,318	3,567	2,443	1,836	3,162	4,073	3,084	5,770
Acquisition of restaurants and real estate
0	1,864	4,750	0	4,706	0	0	1,998	8,418	2,310	3,172	3,071	3,800	1,326	11,480	0	1,476	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
(Costs) proceeds from sales of restaurants, real estate and other assets
-35	-	-	-	7,914	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Restaurant acquisitions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from disposition of property
-	-	-	-	-	2,083	965	0	4	0	1,286	780	252	11	38	302	1,581	95	0	0	0	3	57	0	4	-9	1,569	0	22	1,387	1,239	9,335	3,594	3,612	1,093	1,441	2,452
Investment purchases
1,400	460	0	0	1,300	-9	1,709	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Collections on notes receivable
505	627	2,169	433	425	262	557	1,062	859	632	587	2,574	612	525	421	329	401	381	385	479	495	501	578	483	727	1,126	1,246	1,173	1,234	328	152	123	1,367	591	306	214	236
Issuance of notes receivable
408	529	104	147	571	1,143	70	521	1,934	428	453	815	1,010	839	757	418	219	639	151	551	449	399	516	346	305	801	475	353	404	3,788	528	475	649	0	0	0	0
Net cash flows used in investing activities
-4,156	9,334	64,660	32,322	-1,347	-3,520	-8,039	-6,821	-13,637	-7,359	-7,102	-5,723	-6,963	-6,763	-18,420	-3,929	-3,544	-12,181	-8,127	-9,027	-3,400	-4,091	-4,235	-6,532	-6,431	-7,041	-2,557	-4,718	-2,154	-9,813	-2,704	6,540	2,476	-512	-2,674	-1,429	-3,082
Cash flows from financing activities:
Revolver borrowings
102,500	61,900	36,000	38,000	28,500	45,000	24,500	27,000	39,500	286,000	47,400	27,500	31,000	41,000	8,000	11,500	18,500	63,500	11,000	16,000	140,500	10,000	6,700	12,500	3,000	-	-	-	-	-	-	-	-	-	-	-	-
Revolver payments
24,500	34,900	94,000	50,500	31,500	36,500	28,500	27,000	16,500	288,800	20,600	22,500	19,500	25,500	3,000	14,500	12,500	18,500	3,000	9,500	90,250	21,750	14,700	5,750	0	-	-	-	-	-	-	-	-	-	-	-	-
Net revolver borrowings under new credit agreement
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-500	97,500	0	-	-	-	-	-	-	-	-
Long-term debt payments
406	420	497	752	795	752	786	820	823	855	834	807	826	822	823	799	756	858	805	842	55,839	1,897	1,791	1,803	1,746	1,909	1,884	167,864	5,072	7,151	8,183	198,270	9,137	13,041	11,128	11,046	11,038
Tax (expense) benefit of stock options exercised
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	590	-80	138	-	0	0	0
Debt transaction costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	25	19	25	770
Deferred financing costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	451	4	90	1,171	0	0	0	0	-	-	-	-	-	-	-	-	7	167	162	3,085
Purchase of treasury stock
36,008	43,810	13,383	29,177	8,089	24,129	8,144	13,273	15,691	17,099	30,322	23,887	11,742	32,506	11,373	3,932	3,832	55,334	16,120	16,278	4,912	3,985	8,258	15,219	8,596	3,087	11,201	8,479	2,272	11,176	4,972	5,470	0	2,399	4,890	6,701	7,579
Proceeds from exercise of stock options
0	5	416	443	107	167	45	0	1,013	482	38	5	130	397	169	33	290	261	70	33	368	1,199	765	161	44	878	852	537	688	57	1,474	315	334	57	172	517	4,104
Tax withholding on share-based payments
3,036	0	28	0	3,178	0	18	0	1,696	0	0	0	0	-	-	-	-	0	0	0	982	0	0	0	419	332	0	0	464	0	182	0	145	0	377	0	0
Tax expense for share-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	97	-	-	-	-	-	-	-	-
Excess tax benefit from share-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	423	438	115	-627	581	321	-275	-	-	-	-	-	-	-	-	-	-	-	-
Net bank overdrafts
-449	-2,058	-311	-2,628	705	2,221	-1,100	-1,901	3,320	-2,191	708	543	-972	4,114	0	0	-4,361	4,362	0	-3,592	3,592	-3,558	2,858	-472	-437	-2,287	-695	-440	-1,286	1,956	-664	-416	-2,352	1,148	-579	2,270	-3,046
Net cash flows provided by (used in) financing activities
38,101	-19,283	-71,803	-44,614	-14,250	-20,756	-14,003	-15,994	9,123	-24,065	-3,610	-19,146	-1,910	-20,201	-7,027	-7,698	-2,659	-21,107	-8,436	-13,831	-8,579	-20,618	-13,845	-10,262	-8,429	-8,672	-13,518	-20,501	-8,503	-15,951	-11,940	-16,825	-11,162	-13,597	-16,988	-15,147	-21,414
Increase (decrease) in cash and cash equivalents
35,846	1,352	-272	395	-3,129	3,155	-1,879	-169	-1,064	3,320	-5	-72	-852	1,066	-5,167	2,556	2,466	-6,930	3,476	3,407	-1,356	1,624	229	-193	-1,529	-3,387	4,319	-8,252	-3,302	-10,583	3,151	7,457	-200	-1,207	2,010	-6,234	-9,903