DUNKIN’ BRANDS GROUP, INC. DNKN Cash Flow

Dunkin’ brands group, inc. (DNKN)

CashFlow / TTM

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
241,814	242,024	237,499	231,201	232,077	229,906	311,371	286,474	277,068	271,209	172,388	183,930	182,428	175,289	130,509	124,099	116,958	105,229	166,516	174,638	178,160	175,563	165,112	150,732	145,471	146,304	138,605	127,862	105,371	107,624	85,025	63,136	62,079	34,442	0	0	0
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization
43,454	42,378	42,873	43,494	44,189	45,031	47,998	47,045	46,095	45,239	45,277	45,442	45,784	46,267	43,511	44,402	44,828	45,244	45,434	45,389	45,531	45,539	46,245	47,481	48,254	49,366	50,223	53,374	55,403	56,027	55,916	53,365	52,368	52,522	0	0	0
Amortization of debt issuance costs
4,933	4,977	5,017	5,053	5,051	5,019	5,097	5,456	5,818	6,179	6,541	6,498	6,449	6,398	6,237	6,198	6,157	5,969	5,413	4,863	4,301	3,968	4,107	4,243	4,377	4,706	5,203	5,563	5,771	5,727	5,574	5,592	6,019	6,278	0	0	0
Loss On Debt Extinguishment And Refinancing Transaction
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	20,554	20,554	20,554	20,554	13,735	13,735	13,735	13,735	5,018	5,018	8,981	8,981	3,963	3,963	18,050	23,215	34,222	0	0	0
Impact of unfavorable operating leases acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,443	2,748	2,994	3,230	0	0	0
Deferred income taxes
3,739	-6,257	-4,332	-6,782	-11,093	-9,897	-124,582	-117,891	-119,568	-121,247	-31,416	-30,553	-28,041	-26,362	-8,784	-15,401	-19,097	-21,107	-28,919	-28,632	-27,058	-24,639	-15,936	-16,682	-11,293	-13,191	-4,938	746	-9,037	-6,946	-24,752	-25,593	-15,738	-11,363	0	0	0
Long-lived asset impairment charges
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,790	1,389	1,416	2,060	0	0	0
Provision for Doubtful Accounts
5,866	2,862	1,743	1,002	962	631	198	690	615	457	-29	-17	211	53	1,409	2,832	3,628	3,343	3,343	2,663	1,213	2,821	2,569	4,509	5,002	3,484	3,052	23	86	-542	338	643	636	2,019	0	0	0
Share-based compensation expense
13,800	14,042	15,090	15,226	15,282	14,879	14,892	14,628	14,636	14,926	15,529	16,121	16,535	17,181	16,722	16,686	16,560	16,092	15,135	14,074	13,110	11,287	9,643	8,588	7,554	7,323	6,763	7,751	7,910	6,920	7,125	7,015	5,019	4,632	0	0	0
Income (Loss) from Equity Method Investments
18,953	17,517	16,562	15,682	15,100	14,903	14,251	13,930	14,412	15,198	15,016	15,017	14,407	14,552	-40,554	-41,962	-41,728	-41,745	13,289	14,596	14,693	14,846	15,687	17,649	18,383	18,370	20,234	21,603	21,974	22,351	1,633	345	-793	-3,475	0	0	0
Dividends received from equity method investments
1,179	4,367	4,367	4,339	4,339	4,509	4,509	4,708	4,708	4,711	4,711	4,756	8,451	5,247	5,247	5,829	2,134	6,671	6,671	6,885	6,885	7,427	7,427	7,524	7,524	7,226	7,226	7,635	7,635	6,497	0	0	0	-	-	-	-
Gain on sale of real estate and company-operated restaurants
-	-	-	-	-	-	-	-	-	-	-	-	-	9,373	6,803	4,158	3,094	1,402	933	2,014	3,131	7,458	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Other, net
353	714	-541	-673	-2,614	-2,791	647	343	1,366	1,767	190	1,398	1,585	2,172	2,124	2,175	-859	-1,083	-2,018	-3,913	-579	-570	166	1,554	1,757	1,291	1,235	1,874	1,159	834	2,037	1,204	2,126	2,633	0	0	0
Change in operating assets and liabilities:
Restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	65,888	64,918	65,772	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Accounts, notes, and other receivables, net
11,266	-4,392	-12,832	5,553	10,085	19,776	30,146	19,363	16,274	18,496	3,729	5,419	-458	-40,607	-5,435	-1,454	5,255	26,316	31,732	26,210	16,889	27,224	8,043	11,825	9,592	27,444	6,242	8,734	4,283	-6,321	3,523	-2,642	-2,457	-19,123	0	0	0
Prepaid income taxes, net
-8,715	10,408	3,180	-2,412	12,732	-4,996	-12,157	-5,854	-10,735	-2,441	9,325	3,207	540	5,022	6,804	3,786	4,484	12,094	-659	-4,078	3,761	-4,300	-14,619	-4,390	-24,480	-27,847	-29,967	-45,759	-39,868	-38,928	-1,643	-1,395	7,228	473	0	0	0
Prepaid expenses and other current assets
11,627	5,677	1,956	-4,737	-2,824	1,561	-5,988	-2,958	-4,306	6,481	12,749	18,530	25,836	3,695	5,729	3,884	-692	6,185	3,975	5,673	7,658	-552	-2,397	-1,321	-4,665	-1,879	1,232	-2,720	410	1,480	-389	1,662	794	-4,406	0	0	0
Accounts payable
40,607	7,735	14,499	-10,403	-8,819	26,974	6,435	-3,654	3,483	5,066	7,964	31,176	18,520	5,374	2,998	4,719	3,717	6,514	2,775	1,766	255	397	66	-512	-1,960	46	3,729	3,603	5,632	2,804	-4,653	-3,322	-1,851	85	0	0	0
Other current liabilities
-31,369	-3,407	16,676	31,394	48,964	34,144	35,603	24,540	18,249	30,031	24,993	62	-1,196	-2,696	-2,885	7,170	12,960	40,258	32,481	37,457	39,337	11,876	1,187	10,438	10,353	8,163	14,426	9,017	28,986	38,767	28,528	33,060	-5,375	17,904	0	0	0
Liabilities of advertising funds, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,883	-3,197	-2,259	-1,124	-2,576	7,324	-5,077	-2,785	-6,372	-5,100	1,177	4,795	1,381	-2,797	-5,635	-5,688	-4,149	-5,705	4,173	-3,572	0	0	0
Deferred revenue
-7,705	-5,743	-40,753	-55,012	-50,105	-41,071	22,107	49,977	54,510	59,606	59,048	45,550	38,126	33,651	1,491	-199	-524	1,866	5,596	4,647	7,387	5,770	4,321	4,936	1,132	-842	-1,168	-2,130	-2,679	-1,491	-1,754	-3,299	-4,007	-5,658	0	0	0
Other, net
2,009	9,212	3,585	58	4,666	2,725	-4,295	-1,599	-1,525	-4,567	1,300	-4,312	-6,223	-6,240	-4,401	-2,160	-4,301	-12,214	-8,744	-9,277	-7,935	-1,070	-4,721	-3,715	-1,869	-1,385	89	-702	392	885	-534	-4,983	-2,402	-156	0	0	0
Net Cash Provided by (Used in) Operating Activities
276,471	297,734	300,205	254,293	269,166	268,955	283,706	284,036	275,654	283,357	277,400	267,403	251,152	282,479	310,764	297,201	294,549	262,742	166,709	187,329	188,730	199,323	192,335	191,913	170,410	141,799	162,305	137,069	139,860	154,420	149,092	151,116	146,671	162,703	0	0	0
Cash flows from investing activities:
Additions to property, equipment, and software
40,961	36,762	36,920	37,953	47,998	51,855	48,856	47,227	23,277	21,055	24,117	20,781	21,223	20,826	16,904	22,659	27,197	30,246	29,014	27,444	25,435	23,638	28,493	29,148	27,727	31,099	29,949	25,157	25,927	22,398	19,175	19,208	19,141	18,596	0	0	0
Proceeds from sale of real estate
-	-	-	-	-	-	-	-	-	-	-	-	-	20,523	16,224	8,534	5,338	2,693	1,955	3,186	7,424	14,361	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale of joint venture, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-
Other, net
-1,446	-1,270	-1,118	-1,188	284	-20	-873	-851	-850	-752	3,093	3,233	4,184	4,006	5,658	5,899	6,335	7,914	6,363	6,194	4,908	4,827	3,589	3,874	6,294	3,876	4,061	2,742	1,314	2,965	4,251	3,869	2,163	1,211	0	0	0
Net Cash Provided by (Used in) Investing Activities
-39,515	-35,492	-35,802	-36,765	-48,282	-51,835	-47,983	-46,376	-22,427	-20,303	-22,166	-10,918	-7,529	-4,309	-6,338	-20,024	-28,194	-35,467	-33,422	-30,452	-22,919	-14,104	-15,635	-15,392	-15,015	-22,906	-21,618	-18,283	-24,825	-22,947	-23,426	-23,077	-21,304	-19,807	0	0	0
Cash flows from financing activities:
Borrowings under variable funding notes
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of long-term debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,500,000	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	250,000	0	0	0
Repayment of long-term debt
1,706,900	1,707,025	1,707,149	1,707,300	31,637	31,600	759,313	757,625	756,000	754,375	25,000	25,000	25,000	25,000	25,000	25,051	25,103	1,837,824	1,831,574	1,825,273	1,823,971	15,000	20,000	20,000	20,000	24,157	19,157	24,157	23,157	15,441	34,683	410,299	510,299	654,608	0	0	0
Payment of debt issuance and other debt-related costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-6,831	-6,866	-6,900	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Payment of deferred financing and other debt-related costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Dividends paid on common stock
126,171	124,089	121,820	119,374	117,164	114,828	115,127	115,595	116,021	117,003	115,288	113,699	111,929	109,703	106,829	104,552	102,223	100,516	100,032	98,831	97,943	96,775	93,057	89,317	85,337	81,008	76,587	74,405	72,214	70,069	0	0	0	-	-	-	-
Payment of debt issuance and other debt-related costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	41,350	41,583	41,537	41,189	9,213	8,977	8,977	9,019	6,157	6,362	12,135	12,093	5,978	0	0	0	-	-	-	-
Repurchases of common stock
93,878	29,715	54,802	40,129	30,129	680,368	650,368	677,554	777,554	127,186	152,186	125,000	25,000	55,000	155,004	161,172	195,220	625,041	500,037	542,994	567,952	130,171	140,944	92,253	50,003	27,963	0	0	0	-	-	-	-	-	-	-	-
Exercise of stock options
30,150	30,729	51,577	81,643	80,986	95,331	74,734	46,849	39,712	36,344	38,977	26,642	24,368	10,647	4,993	7,922	10,230	10,353	10,570	7,191	2,918	5,120	6,523	7,614	10,282	7,963	0	0	0	-	-	-	-	-	-	-	-
Excess tax benefits from share-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	13,354	10,460	6,717	10,758	24,304	23,187	20,831	15,366	0	0	0	-	-	-	-	-	-	-	-
Other, net
-2,426	-4,611	-4,573	-4,437	-5,229	-895	-1,585	-800	-784	-698	354	-362	355	-122	-832	-860	-7,447	-7,211	-7,068	-5,704	1,606	1,924	1,799	2,708	1,332	1,782	2,368	1,751	2,802	3,859	3,167	2,178	1,000	3,186	0	0	0
Net Cash Provided by (Used in) Financing Activities
-101,162	-152,648	-154,704	-107,534	-103,173	-732,360	-69,788	-123,166	-229,088	418,641	-253,455	-237,419	-137,206	-179,178	-287,378	-284,419	-314,684	-101,589	36,799	-3,554	-26,714	-233,357	-230,352	-177,038	-131,914	-114,174	-96,062	-160,273	-141,543	-125,602	-142,400	-54,696	-39,788	-30,074	0	0	0
Effect of exchange rates on cash, cash equivalents, and restricted cash
-668	62	-396	-261	-513	-538	-354	-54	417	572	281	96	-226	-275	-184	-551	-370	-929	-1,221	-1,108	-1,124	-715	-483	-101	-247	-404	-467	-199	-311	32	527	-272	-82	-207	0	0	0
Decrease in cash, cash equivalents, and restricted cash
135,126	109,656	109,303	109,733	117,198	-515,778	165,581	114,440	24,556	682,267	2,060	19,162	106,191	98,717	16,864	-7,793	-48,699	124,757	168,865	152,215	137,973	-48,853	-54,135	-618	23,234	4,315	44,158	-41,686	-26,819	5,903	-16,207	73,071	85,497	112,615	0	0	0
Supplemental cash flow information:
Cash paid for income taxes
82,218	73,383	73,709	77,398	68,417	74,775	105,290	117,235	132,922	135,927	129,103	126,243	126,895	125,681	129,499	131,499	121,852	106,924	105,788	103,941	98,584	99,410	87,486	80,819	88,621	98,483	88,623	94,808	94,929	90,225	84,737	70,925	50,616	43,143	0	0	0
Noncash investing activities:
Property, equipment, and software included in accounts payable and other current liabilities
6,025	4,253	3,436	2,167	1,985	2,713	2,969	3,914	3,639	2,637	3,259	2,693	2,382	1,847	515	536	457	579	2,327	1,900	2,244	2,383	1,512	1,098	599	1,366	4,915	6,067	6,060	5,244	2,312	2,081	1,319	1,641	0	0	0
Noncash or Part Noncash Acquisition, Fixed Assets Acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	624	864	864	864	475	660	800	909	1,094	434	294	358	173	288	288	799	2,818	0	0	0	-	-	-	-
Cash paid for interest
123,508	123,459	123,962	119,466	122,714	126,868	117,858	110,488	103,118	91,606	93,501	93,740	93,973	94,212	94,459	94,712	101,253	90,564	83,368	74,701	57,540	64,485	67,101	61,182	67,240	78,127	65,619	73,464	69,481	54,115	68,606	71,549	97,741	103,147	0	0	0
Noncash investing and Financing activities:
Leased assets obtained in exchange for operating lease liabilities, net
19,915	15,702	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repurchase of common stock included in accounts payable and other current liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	0	-	-	-	0	-	-	-	-	-	-	-	-
Debt issuance costs included in accounts payable and other current liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-