DELUXE CORPORATION DLX Cash Flow

Deluxe corporation (DLX)

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	Dec'10	Sep'10	Jun'10	Mar'10
Cash flows from operating activities:
Cash flows from operating activities:
Net (loss) income
-60,131	44,824	-318,493	32,582	41,190	57,169	-31,083	60,208	63,336	84,709	28,801	59,579	57,066	54,228	58,663	58,389	58,102	59,709	56,917	56,063	45,940	57,964	44,431	50,075	47,324	45,722	46,903	48,152	45,875	42,647	41,504	42,262	44,079	39,831	36,735	35,473	32,556	34,825	50,800	33,615	33,384
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Net loss from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-372	0	-399
Depreciation
4,919	4,296	3,758	4,203	4,245	3,848	4,901	4,148	3,675	3,855	3,790	4,141	4,082	3,151	3,786	3,830	3,731	3,994	4,067	4,006	3,933	4,067	4,197	4,262	4,241	4,379	4,395	4,492	4,556	4,860	4,932	5,022	5,108	5,382	5,581	5,425	5,159	5,218	5,186	5,489	5,053
Amortization of intangibles
23,511	26,310	26,736	28,314	28,174	30,329	28,505	28,228	27,466	27,500	27,456	26,273	25,555	20,721	19,273	18,943	18,148	18,275	14,686	13,989	13,750	13,230	11,730	12,091	12,024	11,773	11,880	11,655	11,343	11,120	11,306	11,315	11,989	11,499	12,198	13,515	14,584	14,034	14,193	14,348	10,394
Operating lease expense
3,933	3,968	6,363	4,752	4,030	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of operating lease assets
-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Asset Impairment Charges
90,330	0	390,980	0	0	0	99,170	0	2,149	0	46,630	2,954	5,296	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of prepaid product discounts
7,077	6,194	6,180	5,924	5,757	5,965	5,852	5,716	5,408	5,284	5,097	4,621	4,967	5,485	5,215	4,878	4,607	4,682	4,362	4,866	4,831	4,925	4,647	4,272	4,261	4,564	4,356	4,175	4,102	4,304	4,260	4,167	4,379	3,922	4,072	4,238	4,427	5,049	4,893	4,796	5,007
Deferred income taxes
-9,129	3,599	-41,267	1,078	1,640	801	-9,410	-2,514	-233	-18,590	-13,645	-1,928	-5,014	3,363	-445	-672	-360	-2,311	423	-153	-1,215	-7,529	-7	717	-594	-3,806	2,157	-450	-144	1,383	777	1,553	2,557	5,264	1,741	104	2,241	13,198	1,096	1,369	4,699
Share-based Payment Arrangement, Noncash Expense
3,618	5,122	5,356	5,464	3,760	3,897	3,724	2,795	2,962	3,960	3,840	3,608	3,701	3,195	2,399	3,441	3,424	3,120	2,834	2,785	3,155	2,779	2,400	2,689	1,908	2,008	1,943	1,692	1,919	1,982	1,906	1,854	1,550	1,230	1,376	1,573	1,554	1,602	1,464	1,485	1,599
Gain (Loss) on Disposition of Assets
-	-	-	-	-	2,786	1,765	3,862	7,228	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on early debt extinguishment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-8,917	0	0	0	0	-	-	-	-	-	-	-	-	0	0	0	-6,995	0	0	0	0
Other non-cash items, net
-8,439	-3,362	-2,634	-4,087	-3,137	-2,548	-1,935	-2,186	-1,361	-1,497	-9,194	-1,560	4,543	-4,139	-299	-1,229	-1,600	-1,257	-1,058	669	-808	-3,454	-3,091	-2,281	-2,336	-2,762	-3,234	-2,729	-2,016	-2,783	-1,703	-2,371	-2,514	-2,363	-1,860	-2,881	-3,508	-3,778	-15,212	4,014	2,174
Changes in assets and liabilities:
Trade accounts receivable
-3,575	21,896	-8,624	-2,954	-15,927	18,261	15,204	-3,907	-12,763	13,861	-3,739	3,554	-18,955	28,734	8,718	3,115	-17,153	18,495	5,464	-3,039	-16,395	15,548	7,193	7,280	-8,926	7,262	1,667	220	5,605	4,241	-1,354	560	-532	4,822	1,522	4,828	-4,524	5,851	-4,932	-4,343	7,386
Inventories and supplies
3,165	-2,115	-3,564	2,158	-1,322	1,632	764	1,056	189	1,444	-163	-686	49	-2,068	3,748	-1,909	-2,015	-1,029	1,395	1,382	-1,409	2,337	582	849	585	53	388	205	948	-347	-604	1,537	1,043	-63	317	890	-746	176	330	359	-395
Other current assets
7,403	7,355	-8,762	5,744	6,231	-998	595	8,899	3,536	-8,716	13,913	4,149	-1,370	-2,428	3,647	-1,313	45	-6,252	1,683	1,022	-5,082	3,469	2,657	370	1,703	-7,559	568	-4,221	4,180	-3,551	-724	578	5,679	-3,873	846	2,069	2,496	-2,113	2,380	458	-2,589
Non-current assets
917	2,014	1,097	692	1,557	1,797	1,716	956	2,444	1,962	1,972	589	1,187	1,703	1,628	1,309	414	1,972	1,168	607	-1,215	2,293	1,055	-55	860	245	835	1,376	3,520	-454	1,325	-275	-1,020	168	687	-206	-2,910	1,046	-5,003	1,435	1,594
Accounts payable
-18,059	15,909	1,842	2,448	-15,069	9,819	-8,311	6,647	-3,789	-1,046	5,313	9,790	-21,853	17,507	2,868	3,922	-8,409	8,019	-971	-725	-10,851	10,620	2,458	1,309	-2,169	2,929	1,643	-1,886	-1,800	-1,967	5,143	881	-3,829	3,536	-1,642	4,003	-2,437	-2,691	-2,268	339	-573
Prepaid product discount payments
7,321	5,267	4,188	6,993	9,189	4,689	5,843	7,918	5,364	7,076	9,066	4,838	6,099	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Contract acquisition payments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,849	5,082	9,259	2,963	3,995	2,901	2,947	6,736	5,505	2,971	1,355	1,582	4,798	2,576	3,177	31,990	-4,522	-1,159	-9,357	22,188	-4,383	-1,100	-4,515	-8,250	-3,148	-10,106	-583
Other accrued and non-current liabilities
-20,723	-438	3,041	-16,613	-31,737	34,004	2,770	-22,482	-15,549	20,993	-12,406	-20,920	-7,903	23,363	8,387	-32,078	-17,625	9,887	2,570	-8,912	-11,892	22,612	15,087	-13,771	-415	3,781	13,576	-19,729	1,031	-3,645	8,880	-17,953	-1,824	-6,857	12,899	-15,389	-8,716	-19,672	25,106	-35,411	-14,857
Net cash provided by operating activities
18,554	78,629	102,920	59,705	45,399	120,213	72,166	66,148	80,788	112,535	74,318	77,234	74,344	111,191	79,855	55,598	72,668	90,483	72,241	68,377	78,530	81,739	77,510	52,510	73,339	77,529	81,831	50,674	51,468	66,922	77,246	47,913	51,996	64,120	67,065	43,142	61,040	42,131	99,945	17,847	52,692
Cash flows from investing activities:
Purchases of capital assets
6,355	16,916	17,335	17,725	14,619	19,672	14,526	14,006	14,034	13,099	11,563	11,767	11,021	14,399	10,031	11,995	10,189	13,712	10,242	9,795	9,512	11,470	9,798	8,901	10,950	10,673	10,196	8,286	8,304	9,631	8,228	8,338	8,996	7,280	8,930	10,874	8,422	12,319	10,547	11,267	9,799
Payments to Acquire Businesses, Net of Cash Acquired
-	-	-	-	-	23,862	100,191	37,836	52,369	13,806	47,864	72,314	5,239	175,027	36,140	21,830	6,667	162,057	15,133	28,216	7,584	92,885	3,258	6,020	2,866	21,595	13,034	33,720	1,360	1,540	4,173	28,042	417	-	-	-	-	0	0	97,921	700
Loans to distributors
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	50	87	3,027	123	-	-	-	-	-	-	-	-
Purchases of customer lists
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	70
Purchases of customer funds marketable securities
34	3,825	39	3,736	42	3,826	38	3,897	46	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from customer funds marketable securities
34	3,825	39	3,736	42	3,826	38	3,897	46	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	1,970
Other
-354	-1,051	-288	-1,318	208	-44	-356	-1,132	450	-116	-1,427	-278	-461	-314	-243	-4,604	4,152	-333	-466	124	-463	-295	524	-180	-806	-47	-83	-1,562	173	2,012	-327	-2,763	-448	519	0	-699	-41	-2,123	65	1,659	159
Net cash used by investing activities
-6,001	-25,872	-17,079	-17,973	-14,827	-43,490	-114,361	-50,710	-66,853	-26,789	-58,000	-80,303	-15,799	-189,112	-44,858	-24,533	-21,008	-175,436	-20,936	-38,135	-16,633	-95,609	-12,683	-14,741	-13,010	-32,221	-23,147	-35,845	-9,837	-10,620	-12,161	-36,644	-9,088	-11,239	-65,236	-46,929	-8,381	-11,805	-10,612	-104,995	-8,758
Cash flows from financing activities:
Proceeds from short-term borrowings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-25,000	-83,000	158,000	-	0	0	-125	0	0	0	0	-	-	-	-	-33,000	20,000	13,000	-7,000	-23,000	-69,000	99,000	-26,000
Proceeds from issuing long-term debt
1,011,000	38,000	49,500	71,500	82,500	90,500	281,500	83,375	824,625	70,000	165,000	110,500	57,500	390,000	62,000	60,500	46,500	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	200,000	0	0	0	0
Payments on long-term debt
754,500	78,500	76,500	66,500	46,500	69,714	157,729	59,210	792,200	117,575	129,538	129,991	77,061	256,316	57,289	63,816	64,768	64,521	29,270	138,779	207,242	340,083	348	269	203	99	1,415	41	0	-	-	-	-	0	0	0	215,030	0	0	0	0
Net change in customer funds obligations
-19,407	21,309	1,966	-769	-9,908	20,337	-9,345	-1,006	10,293	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments for debt issue costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	97	-	56	90	939	0	29	69	138	3,340	1	125	1,038	43	41	149	3,280	0	37	259	2,065
Change in book overdrafts
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-321	-4	55	27	25	-24	-2,628	-2,118	2,887	-80	-825	902	-656	515	-1,454
Proceeds from issuing shares under employee plans
1,736	39	1,522	89	1,548	223	1,533	598	5,169	815	2,304	901	5,013	2,253	2,668	1,608	2,585	403	1,357	746	3,389	334	1,681	1,757	5,376	3,067	3,515	379	8,987	2,710	6,737	212	2,661	74	1,083	881	5,633	189	1,478	243	1,357
Excess tax benefit from share-based employee awards
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	428	259	297	1,260	2,411	554	626	1,401	1,473	461	206	915	1,165	677	81	362	80	-341	561	752	284	-75	194	277
Employee taxes paid for shares withheld
757	859	204	200	2,672	8	22	3,390	4,557	2,561	1,244	24	5,548	3,256	73	1,409	851	462	365	44	827	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments for common shares repurchased
14,000	0	39,651	28,896	50,000	80,000	80,004	20,000	19,996	14,930	20,002	15,066	15,002	10,280	14,963	14,977	15,004	12,956	46,996	0	0	0	8,179	20,010	31,930	15,000	1,798	19,391	12,609	15,156	0	11,999	0	0	5,634	12,000	5,986	0	2,999	0	0
Cash dividends paid to shareholders
12,714	12,674	12,815	13,135	13,118	13,726	14,181	14,369	14,393	14,426	14,516	14,565	14,591	14,593	14,681	14,706	14,740	14,790	14,922	15,032	15,011	14,972	14,954	15,033	12,644	12,684	12,665	12,631	12,731	12,787	12,708	12,663	12,760	12,731	12,732	12,782	12,881	12,849	12,890	12,861	12,835
Other
-202	-212	-214	-183	-1,257	0	-207	-716	-3,205	-1,061	-770	-179	-332	-483	-1,217	0	-417	-681	-92	-136	-150	-1,360	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided (used) by financing activities
211,156	-32,897	-76,396	-38,094	-39,407	-52,388	21,545	-14,718	5,736	-85,745	1,234	-48,424	-50,021	109,048	-23,555	-32,800	-46,695	86,671	-50,029	-24,351	-60,678	-110,663	-21,302	-33,019	-39,064	-22,973	-12,252	-31,551	-15,521	-116,319	-5,270	-24,518	-13,403	-47,738	5,222	-10,569	-38,617	-34,474	-84,179	86,832	-40,720
Effect of exchange rate change on cash, cash equivalents, restricted cash and restricted cash equivalents
-12,717	2,840	-1,392	1,920	2,076	-5,190	1,461	-1,896	-2,011	3,117	1,078	761	414	-603	-969	317	3,618	-2,186	-3,307	716	-4,441	-1,927	-2,466	1,577	-1,739	-1,286	778	-1,189	-804	-185	691	-335	523	523	-1,656	130	427	440	424	-499	325
Net change in cash, cash equivalents, restricted cash and restricted cash equivalents
210,992	22,700	8,053	5,558	-6,759	19,145	-19,189	-1,176	17,660	3,118	18,630	-50,732	8,938	30,524	10,473	-1,418	8,583	-468	-2,031	6,607	-3,222	-126,460	41,059	6,327	19,526	21,049	47,210	-17,911	25,306	-60,202	60,506	-13,584	30,028	5,666	5,395	-14,226	14,469	-3,708	5,578	-815	3,539