Callaway Golf Company ELY Cash Flow

Callaway golf company (ELY)

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 (Loss), Including Portion Attributable to Noncontrolling Interest
28,894	-29,218	31,048	28,898	48,501	-28,151	9,740	60,934	62,731	-18,776	3,089	31,474	25,880	124,198	-5,739	34,105	38,390	-30,452	-3,617	12,818	35,819	-41,539	-1,134	3,369	55,312	-49,499	-21,153	10,071	41,660	-70,749	-86,798	2,799	31,802	-62,985	-62,587	-59,066	12,818
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization
8,997	9,480	8,472	9,022	7,977	5,186	4,996	5,029	4,737	4,799	4,309	4,178	4,319	4,045	4,204	4,180	4,157	4,029	4,193	4,454	4,703	4,857	5,222	5,460	5,697	5,850	6,265	6,472	6,956	7,835	8,342	9,489	8,745	10,198	9,247	9,311	9,880
Lease amortization expense
8,517	7,278	8,336	6,125	9,154	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of intangible assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-14	6,616	-	-	-	-
Amortization of debt issuance costs
835	834	1,133	648	647	-	-	-	-	-	-	-	-	-	-	-	-	16	120	193	202	188	186	183	182	179	179	175	169	-	-	-	-	-	-	-	-
Inventory step-up from acquisition
0	182	0	5,336	5,367	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred taxes, net
12,409	-9,788	-2,107	6,509	4,005	-8,418	-150	16,238	14,035	-7,992	-442	17,398	15,630	-141,077	-23	-347	0	312	-329	160	-15	783	-351	158	14	-2,612	103	-132	332	-528	349	575	-2,321	4,270	263	51,522	-125
Non-cash share-based compensation
1,861	3,420	2,512	3,529	3,435	3,555	3,511	3,465	2,999	3,064	4,181	2,184	3,218	2,500	2,136	2,135	2,194	2,007	1,974	1,735	1,826	1,761	1,440	1,376	1,163	941	922	913	757	660	586	1,108	788	691	1,298	5,276	2,305
Loss on disposal of long-lived assets
-51	431	8	-582	-75	-17	27	0	3	-455	0	-1,069	34	-1	-7	-146	270	234	262	253	257	234	453	362	282	186	216	-2,891	247	-260	546	416	559	295	444	510	6,242
Unrealized net (gains) losses on hedging instruments
-767	-2,643	1,678	-3,155	478	3,447	117	3,081	-2,060	350	177	1,561	-3,111	3,563	-1,996	-884	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in assets and liabilities, net of effect from acquisitions:
Accounts receivable, net
120,075	-79,084	-32,988	-31,029	187,577	-52,450	-111,795	-19,136	185,490	-58,158	-77,828	-21,886	106,254	-21,775	-47,712	-28,521	114,973	-36,508	-64,334	-42,876	155,309	-28,904	-48,191	-96,154	196,563	-62,432	-75,564	-22,228	166,914	-50,794	-114,007	314	140,786	-32,682	-102,860	-15,137	122,579
Inventories
-36,982	105,198	-13,737	-15,336	-42,173	99,274	2,158	-19,281	-4,134	76,048	3,984	-7,612	-20,410	40,591	-2,999	-36,218	-25,625	24,764	15,749	-11,809	-23,357	28,046	-16,182	-40,680	-18,518	75,098	249	-10,779	-3,602	26,768	-30,215	-20,798	4,029	27,426	-7,280	-45,073	-11,533
Other assets
-19,349	15,671	-4,729	-1,780	2,962	11,560	891	-3,236	760	1,698	-1,066	4,336	1,565	3,691	-2,941	-3,739	2,821	-1,451	-2,647	-1,833	-1,129	-3,034	5,858	-5,655	-53	2,203	-4,888	-3,073	5,948	791	-1,145	-2,700	2,010	-8,043	-7,461	-3,094	-2,001
Accounts payable and accrued expenses
-58,137	72,300	14,532	-29,194	-22,730	53,626	-17,597	-13,961	200	35,977	-10,228	7,357	-17,692	23,043	7,985	-6,682	-11,793	10,227	5,096	-19,215	9,274	20,042	9,699	-56,991	-3,328	34,814	7,138	-24,979	17,690	33,352	-20,369	-35,273	23,332	22,719	-6,987	-56,057	27,712
Accrued employee compensation and benefits
-16,680	3,098	4,773	4,652	-14,983	4,784	7,687	3,560	-12,883	5,259	7,457	2,342	-8,037	2,853	4,777	3,522	-11,641	3,869	2,715	1,132	-11,111	8,523	615	-833	-1,977	4,909	1,798	2,444	2,372	-690	-2,403	13	-977	-3,557	-9,725	658	8,437
Accrued warranty expense
155	-556	-747	193	966	-922	497	724	654	-893	1,581	24	550	-120	-657	-178	644	-309	-432	39	801	-275	-1,514	-549	1,539	-360	-1,475	354	348	-594	270	-399	122	-1,849	-1,993	3,336	219
Change in operating leases, net
-7,041	-7,411	-36,798	23,049	-8,714	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income taxes receivable/payable, net
-11,356	12,987	4,651	-11,756	-4,468	3,519	-1,465	-224	-1,748	2,680	-1,894	-615	-2,326	3,132	-478	557	-718	-412	420	-83	-295	811	-2,244	-344	-2,348	2,584	208	350	-381	-	-	-	-13	3,728	874	-6,610	9,661
Other liabilities
790	-336	369	-378	-992	18	-9	24	60	868	-26	117	-15	-416	0	82	-253	-57	-53	183	-472	-271	-304	-493	-2,778	1,742	626	-1,119	-956	14	148	19	116	899	-254	-2,636	5,006
Net cash used in operating activities
-93,682	22,697	114,612	69,845	-120,604	-28,617	115,812	114,361	-109,274	6,914	84,461	89,129	-62,805	-7,911	67,860	89,220	-71,459	2,191	61,057	57,681	-90,348	-1,462	69,677	93,463	-124,798	-16,507	74,598	33,520	-100,560	443	62,029	1,126	-92,406	-11,762	47,293	13,941	-39,374
Cash flows from investing activities:
Capital expenditures
16,953	17,859	13,440	12,099	11,304	10,722	8,996	9,143	7,964	9,357	4,660	5,885	6,301	3,989	4,676	2,524	4,963	5,856	2,601	3,519	2,393	1,950	2,565	2,190	4,048	4,118	2,916	2,859	3,145	2,402	1,886	5,428	8,687	7,777	7,065	7,171	6,918
Payments to Acquire Investments
-	-	-	-	-	1,461	0	0	282	20,000	1,499	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition, net of cash acquired
0	0	0	0	463,105	0	0	0	0	1,654	123,934	-739	58,629	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Investment in golf-related ventures
-	-	-	-	-	-	-	-	-	-	-	-	-	-3,008	0	300	1,260	940	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Collection of note receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	3,104	-	0	0	0	-	-	-	-	-	-	-	-	0	0	0	26,861	-	-	-	-
Proceeds from sales of property and equipment
0	-5	28	0	15	0	43	0	0	27	0	522	38	0	0	14	6	0	0	1	1	0	281	133	44	123	90	284	3,651	31	254	20	50	1,084	115	0	18,172
Net cash used in investing activities
-16,953	-35,761	-13,412	-12,099	-474,394	-12,183	-8,953	-9,143	-8,246	-30,984	-130,093	-4,624	-64,892	-3,877	-4,676	20,619	-3,113	-9,900	-2,601	-3,518	-2,392	-12,009	-2,474	-6,579	-4,004	-10,443	-8,535	-4,055	506	-5,639	-1,632	-5,408	18,224	-6,693	-6,950	-7,171	11,254
Cash flows from financing activities:
Proceeds from credit facilities, net
191,013	35,439	-54,756	-49,015	174,182	36,000	-91,840	-82,383	90,768	17,137	64,387	-70,723	64,988	11,966	-5,331	-73,638	64,000	14,969	-42,599	-51,719	79,083	15,235	-60,196	-80,391	114,927	25,660	-38,500	-40,989	79,489	-	-	-15,750	85,900	2,467	-39,609	34,142	3,000
Proceeds from issuance of long-term debt
9,766	0	13,167	0	480,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of long-term debt
3,143	2,387	31,973	565	1,760	554	549	544	539	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Equity issuance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-3	15	-5	67	274	0	0	-	-	-	-	-	-	-	-
Debt issuance cost
0	3	117	842	18,129	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Principal payments on finance leases
109	123	351	118	114	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition of treasury stock
21,938	568	111	17	27,377	83	72	2,178	20,123	138	69	1,041	15,369	11	0	2,255	2,878	18	27	513	1,402	0	1,006	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Dividends paid, net
949	942	941	940	953	947	944	943	954	946	945	943	939	942	940	941	941	937	889	785	780	775	779	777	774	717	1,893	1,494	1,495	1,493	2,972	3,275	3,279	3,274	3,277	3,272	3,270
Issuance of common stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1	-3	1,038	0	1,160
Exercise of stock options
130	368	0	0	0	0	378	506	752	1,157	1,120	2,601	484	12	529	1,712	384	1,235	0	3,091	2,239	69	217	414	1,591	1,652	0	0	0	-	-	-	-	-	-	-	-
Other financing activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-199	-29	-100	169	164	-213	-40	169
Net cash provided by financing activities
174,770	31,784	-93,620	-51,497	605,849	34,416	-93,027	-86,363	69,904	26,779	64,493	-71,080	49,164	11,045	-5,742	-75,122	60,565	15,249	-43,515	-49,926	79,140	14,503	-61,785	-81,353	115,749	26,496	-40,667	-42,483	77,994	-1,673	-29,866	-19,126	82,791	-3,113	-42,061	30,830	1,059
Effect of exchange rate changes on cash and cash equivalents
-4,166	-270	-854	-3,698	4,107	-456	-759	175	660	944	1,201	545	547	2,090	-433	-2,234	-658	669	-63	-759	-799	3,141	-941	-103	-183	-152	-17,956	14,905	-1,871	-267	622	-275	37	296	-519	390	560
Net increase in cash and cash equivalents
59,969	18,450	6,726	2,551	14,958	-6,840	13,073	19,030	-46,956	3,653	20,062	13,970	-77,986	1,347	57,009	32,483	-14,665	8,209	14,878	3,478	-14,399	4,173	4,477	5,428	-13,236	-606	7,440	1,887	-23,931	-7,136	31,153	-23,683	8,646	-21,272	-2,237	37,990	-26,501
Supplemental disclosures:
Cash paid for income taxes, net
3,983	-5,354	10,272	1,343	3,259	1,348	2,887	1,085	4,244	1,001	3,570	1,757	4,460	393	1,830	1,798	2,122	596	1,262	1,667	1,929	-251	2,398	2,134	3,817	585	823	1,051	2,527	2,525	-1,274	4,965	-1,982	-2,121	-1,389	-2,003	2,040
Cash paid for interest and fees
7,165	7,691	8,123	12,019	5,042	571	1,131	1,971	1,317	2,729	686	685	494	227	290	582	527	302	2,845	682	2,812	300	2,700	2,180	2,944	2,405	704	1,570	2,062	396	4,793	1,682	673	991	2,969	-160	-56
Non-cash investing and financing activities:
Issuance of treasury stock and common stock for compensatory stock awards released from restriction
18,129	1,043	309	837	18,467	223	60	1,130	4,331	257	142	2,315	3,099	27	76	817	0	0	94	369	3,300	-1	0	87	0	-	-	-	-	-	-	-	-	-	-	-	-
Accrued capital expenditures at period-end
4,055	845	654	451	1,178	599	344	983	746	142	204	394	1,267	-536	632	-153	793	652	1,050	-103	656	198	-294	127	435	-469	1,386	-14	564	16	-651	-164	891	252	27	276	1,333
Acquisition of treasury stock for minimum statutory withholding taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	728	0	-721	357	12	75	94	602	0	75	847	665
Dividends payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	438