Callaway Golf Company ELY Cash Flow

Callaway golf company (ELY)

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 (Loss), Including Portion Attributable to Noncontrolling Interest
59,622	79,229	80,296	58,988	91,024	105,254	114,629	107,978	78,518	41,667	184,641	175,813	178,444	190,954	36,304	38,426	17,139	14,568	3,481	5,964	-3,485	16,008	8,048	-11,971	-5,269	-18,921	-40,171	-105,816	-113,088	-122,946	-115,182	-90,971	-152,836	-171,820	0	0	0
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization
35,971	34,951	30,657	27,181	23,188	19,948	19,561	18,874	18,023	17,605	16,851	16,746	16,748	16,586	16,570	16,559	16,833	17,379	18,207	19,236	20,242	21,236	22,229	23,272	24,284	25,543	27,528	29,605	32,622	34,411	36,774	37,679	37,501	38,636	0	0	0
Lease amortization expense
30,256	30,893	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of intangible assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6,602	0	0	0	-	-	-	-
Amortization of debt issuance costs
3,450	3,262	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	531	703	769	759	739	730	723	715	702	0	0	0	-	-	-	-	-	-	-	-
Inventory step-up from acquisition
5,518	10,885	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred taxes, net
7,023	-1,381	-11	1,946	11,675	21,705	22,131	21,839	22,999	24,594	-108,491	-108,072	-125,817	-141,447	-58	-364	143	128	599	577	575	604	-2,791	-2,337	-2,627	-2,309	-225	21	728	-1,925	2,873	2,787	53,734	55,930	0	0	0
Non-cash share-based compensation
11,322	12,896	13,031	14,030	13,966	13,530	13,039	13,709	12,428	12,647	12,083	10,038	9,989	8,965	8,472	8,310	7,910	7,542	7,296	6,762	6,403	5,740	4,920	4,402	3,939	3,533	3,252	2,916	3,111	3,142	3,173	3,885	8,053	9,570	0	0	0
Loss on disposal of long-lived assets
-194	-218	-666	-647	-65	13	-425	-452	-1,521	-1,490	-1,036	-1,043	-120	116	351	620	1,019	1,006	1,006	1,197	1,306	1,331	1,283	1,046	-2,207	-2,242	-2,688	-2,358	949	1,261	1,816	1,714	1,808	7,491	0	0	0
Unrealized net (gains) losses on hedging instruments
-4,887	-3,642	2,448	887	7,123	4,585	1,488	1,548	28	-1,023	2,190	17	-2,428	683	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in assets and liabilities, net of effect from acquisitions:
Accounts receivable, net
-23,026	44,476	71,110	-7,697	4,196	2,109	-3,599	30,368	27,618	-51,618	-15,235	14,881	8,246	16,965	2,232	-14,390	-28,745	11,591	19,195	35,338	-17,940	23,314	-10,214	-37,587	36,339	6,690	18,328	-20,115	2,427	-23,701	-5,589	5,558	-9,893	-28,100	0	0	0
Inventories
39,143	33,952	28,028	43,923	39,978	78,017	54,791	56,617	68,286	52,010	16,553	9,570	-19,036	-24,251	-40,078	-21,330	3,079	5,347	8,629	-23,302	-52,173	-47,334	-282	16,149	46,050	60,966	12,636	-17,828	-27,847	-20,216	-19,558	3,377	-20,898	-36,460	0	0	0
Other assets
-10,187	12,124	8,013	13,633	12,177	9,975	113	-1,844	5,728	6,533	8,526	6,651	-1,424	-168	-5,310	-5,016	-3,110	-7,060	-8,643	-138	-3,960	-2,884	2,353	-8,393	-5,811	190	-1,222	2,521	2,894	-1,044	-9,878	-16,194	-16,588	-20,599	0	0	0
Accounts payable and accrued expenses
-499	34,908	16,234	-15,895	-662	22,268	4,619	11,988	33,306	15,414	2,480	20,693	6,654	12,553	-263	-3,152	-15,685	5,382	15,197	19,800	-17,976	-30,578	-15,806	-18,367	13,645	34,663	33,201	5,694	-4,600	1,042	-9,591	3,791	-16,993	-12,613	0	0	0
Accrued employee compensation and benefits
-4,157	-2,460	-774	2,140	1,048	3,148	3,623	3,393	2,175	7,021	4,615	1,935	3,115	-489	527	-1,535	-3,925	-3,395	1,259	-841	-2,806	6,328	2,714	3,897	7,174	11,523	5,924	1,723	-708	-4,057	-6,924	-14,246	-13,601	-4,187	0	0	0
Accrued warranty expense
-955	-144	-510	734	1,265	953	982	2,066	1,366	1,262	2,035	-203	-405	-311	-500	-275	-58	99	133	-949	-1,537	-799	-884	-845	58	-1,133	-1,367	378	-375	-601	-1,856	-4,119	-384	-287	0	0	0
Change in operating leases, net
-28,201	-29,874	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income taxes receivable/payable, net
-5,474	1,414	-8,054	-14,170	-2,638	82	-757	-1,186	-1,577	-2,155	-1,703	-287	885	2,493	-1,051	-153	-793	-370	853	-1,811	-2,072	-4,125	-2,352	100	794	2,761	0	0	0	-	-	-	-2,021	7,653	0	0	0
Other liabilities
445	-1,337	-983	-1,361	-959	93	943	926	1,019	944	-340	-314	-349	-587	-228	-281	-180	-399	-613	-864	-1,540	-3,846	-1,833	-903	-1,529	293	-1,435	-1,913	-775	297	1,182	780	-1,875	3,015	0	0	0
Net cash used in operating activities
113,472	86,550	35,236	36,436	80,952	92,282	127,813	96,462	71,230	117,699	102,874	86,273	86,364	77,710	87,812	81,009	49,470	30,581	26,928	35,548	71,330	36,880	21,835	26,756	-33,187	-8,949	8,001	-4,568	-36,962	-28,808	-41,013	-55,749	-42,934	10,098	0	0	0
Cash flows from investing activities:
Capital expenditures
60,351	54,702	47,565	43,121	40,165	36,825	35,460	31,124	27,866	26,203	20,835	20,851	17,490	16,152	18,019	15,944	16,939	14,369	10,463	10,427	9,098	10,753	12,921	13,272	13,941	13,038	11,322	10,292	12,861	18,403	23,778	28,957	30,700	28,931	0	0	0
Payments to Acquire Investments
-	-	-	-	-	1,743	20,282	21,781	21,781	21,499	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition, net of cash acquired
0	463,105	463,105	463,105	463,105	0	1,654	125,588	124,849	183,478	181,824	57,890	58,629	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Investment in golf-related ventures
-	-	-	-	-	-	-	-	-	-	-	-	-	-1,448	2,500	2,500	2,200	940	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Collection of note receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	26,861	0	0	0	-	-	-	-
Proceeds from sales of property and equipment
23	38	43	58	58	43	70	27	549	587	560	560	52	20	20	20	7	2	2	283	415	458	581	390	541	4,148	4,056	4,220	3,956	355	1,408	1,269	1,249	19,371	0	0	0
Net cash used in investing activities
-78,225	-535,666	-512,088	-507,629	-504,673	-38,525	-57,326	-178,466	-173,947	-230,593	-203,486	-78,069	-52,826	8,953	2,930	5,005	-19,132	-18,411	-20,520	-20,393	-23,454	-25,066	-23,500	-29,561	-27,037	-22,527	-17,723	-10,820	-12,173	5,545	4,491	-827	-2,590	-9,560	0	0	0
Cash flows from financing activities:
Proceeds from credit facilities, net
122,681	105,850	106,411	69,327	35,959	-47,455	-66,318	89,909	101,569	75,789	70,618	900	-2,015	-3,003	0	-37,268	-15,349	-266	0	-17,597	-46,269	-10,425	0	21,696	61,098	25,660	0	0	0	-	-	33,008	82,900	0	0	0	0
Proceeds from issuance of long-term debt
22,933	493,167	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of long-term debt
38,068	36,685	34,852	3,428	3,407	2,186	1,632	1,083	539	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Equity issuance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	74	351	336	341	0	0	0	-	-	-	-	-	-	-	-
Debt issuance cost
962	19,091	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Principal payments on finance leases
701	706	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition of treasury stock
22,634	28,073	27,588	27,549	29,710	22,456	22,511	22,508	21,371	16,617	16,490	16,421	17,635	5,144	5,151	5,178	3,436	1,960	1,942	2,921	2,408	1,006	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Dividends paid, net
3,772	3,776	3,781	3,784	3,787	3,788	3,787	3,788	3,788	3,773	3,769	3,764	3,762	3,764	3,759	3,708	3,552	3,391	3,229	3,119	3,111	3,105	3,047	4,161	4,878	5,599	6,375	7,454	9,235	11,019	12,800	13,105	13,102	13,093	0	0	0
Issuance of common stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,036	2,195	0	0	0
Exercise of stock options
498	368	0	378	884	1,636	2,793	3,535	5,630	5,362	4,217	3,626	2,737	2,637	3,860	3,331	4,710	6,565	5,399	5,616	2,939	2,291	3,874	3,657	3,243	1,652	0	0	0	-	-	-	-	-	-	-	-
Other financing activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-159	204	20	80	80	0	0	0
Net cash provided by financing activities
61,437	492,516	495,148	495,741	460,875	-75,070	-82,707	74,813	90,096	69,356	53,622	-16,613	-20,655	-9,254	-5,050	-42,823	-17,627	948	202	-18,068	-49,495	-12,886	-893	20,225	59,095	21,340	-6,829	3,972	27,329	32,126	30,686	18,491	68,447	-13,285	0	0	0
Effect of exchange rate changes on cash and cash equivalents
-8,988	-715	-901	-806	3,067	-380	1,020	2,980	3,350	3,237	4,383	2,749	-30	-1,235	-2,656	-2,286	-811	-952	1,520	642	1,298	1,914	-1,379	-18,394	-3,386	-5,074	-5,189	13,389	-1,791	117	680	-461	204	727	0	0	0
Net increase in cash and cash equivalents
87,696	42,685	17,395	23,742	40,221	-21,693	-11,200	-4,211	-9,271	-40,301	-42,607	-5,660	12,853	76,174	83,036	40,905	11,900	12,166	8,130	-2,271	-321	842	-3,937	-974	-4,515	-15,210	-21,740	1,973	-23,597	8,980	-5,156	-38,546	23,127	-12,020	0	0	0
Supplemental disclosures:
Cash paid for income taxes, net
10,244	9,520	16,222	8,837	8,579	9,564	9,217	9,900	10,572	10,788	10,180	8,440	8,481	6,143	6,346	5,778	5,647	5,454	4,607	5,743	6,210	8,098	8,934	7,359	6,276	4,986	6,926	4,829	8,743	4,234	-412	-527	-7,495	-3,473	0	0	0
Cash paid for interest and fees
34,998	32,875	25,755	18,763	8,715	4,990	7,148	6,703	5,417	4,594	2,092	1,696	1,593	1,626	1,701	4,256	4,356	6,641	6,639	6,494	7,992	8,124	10,229	8,233	7,623	6,741	4,732	8,821	8,933	7,544	8,139	6,315	4,473	3,744	0	0	0
Non-cash investing and financing activities:
Issuance of treasury stock and common stock for compensatory stock awards released from restriction
20,318	20,656	19,836	19,587	19,880	5,744	5,778	5,860	7,045	5,813	5,583	5,517	4,019	920	893	911	463	3,763	3,762	3,668	3,386	86	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Accrued capital expenditures at period-end
6,005	3,128	2,882	2,572	3,104	2,672	2,215	2,075	1,486	2,007	1,329	1,757	1,210	736	1,924	2,342	2,392	2,255	1,801	457	687	466	-201	1,479	1,338	1,467	1,952	-85	-235	92	328	1,006	1,446	1,888	0	0	0
Acquisition of treasury stock for minimum statutory withholding taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	364	-352	-277	538	783	771	771	1,524	1,587	0	0	0
Dividends payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	438	0	0	0