G iii apparel group ltd /de/ (GIII)
CashFlow / Quarterly
Jan'20Oct'19Jul'19Apr'19Jan'19Oct'18Jul'18Apr'18Jan'18Oct'17Jul'17Apr'17Jan'17Oct'16Jul'16Apr'16Jan'16Oct'15Jul'15Apr'15Jan'15Oct'14Jul'14Apr'14Jan'14Oct'13Jul'13Apr'13Jan'13Oct'12Jul'12Apr'12Jan'12Oct'11Jul'11Apr'11
Cash flows from operating activities
Net income

25,288

95,387

11,119

12,043

24,080

94,025

10,077

9,885

-542

81,625

-8,568

-10,391

-20,104

70,564

-1,293

2,771

7,964

87,156

12,453

6,760

22,220

79,773

5,909

1,089

12,674

59,357

3,338

1,033

7,897

48,213

1,306

-847

5,020

43,555

1,565

-520

Adjustments to reconcile net income to net cash provided by operating activities, net of assets and liabilities acquired:
Depreciation and amortization

9,772

9,701

9,789

9,473

9,951

10,033

9,455

9,380

10,303

6,906

10,736

9,838

9,583

8,033

7,672

7,193

7,179

6,612

5,914

5,687

5,604

5,589

4,954

4,227

4,153

3,160

3,242

3,121

2,977

2,811

2,100

2,053

2,222

1,875

1,852

1,524

Loss on disposal of fixed assets

-1,157

-113

-76

-1,154

26

-9

-92

-53

-90

-2,493

-155

-184

-1,906

-638

-508

-149

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash operating lease costs

-18,225

-18,319

-16,445

-20,284

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on lease terminations

69

124

1,393

829

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Dividend received from unconsolidated affiliate

1,715

0

0

1,960

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Equity (gain)/loss in unconsolidated affiliates

952

1,381

509

358

-122

396

-478

-1,339

86

612

0

-1,152

793

-1,437

348

269

-

-

-

-

-

-

-

-

-

-

-

-

-13

-273

-147

-286

-459

-337

-376

-99

Share-based compensation

3,902

4,308

5,122

4,227

4,818

5,436

5,666

3,774

4,303

5,100

5,307

4,955

3,636

4,237

4,555

4,473

4,146

3,796

4,009

3,625

3,793

2,651

2,857

2,923

3,127

2,719

2,127

1,980

3,245

1,529

1,453

1,511

1,584

1,577

1,116

923

Tax benefit from exercise/vesting of equity awards

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,548

1,140

4,290

7,554

-89

-2,561

-1,989

3,131

-207

-324

-730

-63

-153

-303

-290

Deferred financing charges and debt discount amortization

3,905

2,009

1,981

2,596

2,571

2,497

2,516

2,468

2,705

2,691

1,715

3,779

4,548

188

237

184

238

188

237

182

238

188

289

180

186

230

170

165

220

161

60

59

60

61

142

162

Deferred income taxes

-

-

-

6

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities:
Accounts receivable, net

-368,892

434,365

-13,708

-23,762

-317,454

371,935

18,807

134,589

-306,871

313,639

30,918

-7,739

-286,116

293,918

29,474

-7,966

-315,802

298,739

29,796

10,883

-253,622

259,587

46,548

-14,945

-237,809

234,767

10,665

-26,234

-184,932

170,875

8,286

14,020

-205,577

196,546

43,323

-10,123

Inventories

-98,715

-191,503

303,181

-37,428

-39,744

-62,326

215,820

-90,182

-39,509

-62,892

208,621

-37,445

-17,619

-79,551

163,536

-78,999

-24,791

-94,982

233,780

-54,099

-9,889

-94,964

211,628

-37,010

-6,654

-83,201

164,084

-38,645

-27,143

-38,863

127,634

-44,766

-19,640

-49,226

154,636

-37,244

Income taxes, net

-29,235

34,601

315

-6,302

-24,373

32,153

-4,808

-6,838

-18,289

46,278

-6,499

-10,206

-34,293

56,307

-6,478

-1,303

-68,283

46,881

7,083

-2,514

-30,600

42,560

-1,949

-9,722

-37,493

35,494

-2,347

-14,420

-15,244

28,038

116

-6,796

-17,860

27,379

-497

-2,851

Prepaid expenses and other current assets

3,349

-15,957

-3,097

-224

14,001

-19,438

-8,938

62,334

16,191

-23,848

3,031

8,503

12,151

-16,849

6,718

4,280

7,384

-15,426

8,009

-692

5,412

-18,791

10,507

5,435

4,465

-19,256

11,569

4,656

2,082

-10,805

9,657

2,890

1,972

-12,188

7,789

3,751

Other assets, net

349

-782

-31

1,195

1,668

2,142

-1,734

4,161

-2,536

-1,257

-6,849

-349

10,584

-70

-135

484

-587

-265

-267

1,216

-3,771

3,396

-167

2,036

4,344

-1,926

915

11,639

-958

3,546

237

8

39

-256

178

-25

Customer refund liabilities

26,622

-80,962

31,233

33,279

-8,190

-31,187

10,334

-148,101

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating lease liabilities

-18,780

-22,763

-16,756

-21,544

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable, accrued expenses and other liabilities

-45,131

-82,271

183,817

-74,979

-33,673

-34,729

149,649

-81,575

-21,420

-50,071

151,735

-69,561

-28,380

-19,506

153,887

-93,565

-29,586

-69,169

205,778

-92,188

-20,308

-27,700

154,327

-42,214

9,736

-47,031

132,494

-56,614

-10,984

-38,816

120,868

-63,141

10,653

-26,815

95,472

-73,116

Net cash provided by operating activities

429,190

-87,262

-107,578

-25,329

339,936

-150,628

-61,164

-24,315

325,326

-131,232

-81,140

-33,220

222,946

-78,232

-40,853

1,834

259,056

-113,692

-35,312

-35,756

251,115

-55,884

-103,269

-3,323

220,769

-76,366

-45,648

-14,162

194,753

-82,522

-19,440

-38,297

228,975

-86,754

-105,597

-29,848

Capital expenditures

6,087

14,372

4,240

13,291

9,689

8,061

6,125

5,330

13,079

10,817

4,882

5,729

6,528

5,783

6,521

6,096

7,857

17,715

8,910

7,690

8,674

12,525

11,242

10,125

13,569

5,034

6,101

4,579

4,623

2,474

2,612

1,906

4,473

4,921

4,965

3,051

Investment in unconsolidated affiliate

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

35,432

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of interest in joint venture, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

250

300

850

1,150

1,350

Net cash used in investing activities

-6,177

-14,446

-6,180

-13,291

-7,865

-18,012

-6,125

-5,330

-12,435

-10,866

-4,882

-5,729

-471,931

-5,783

-6,521

-41,528

-7,857

-17,715

-34,400

-7,690

-8,675

-9,313

-11,242

-10,125

-62,698

-5,034

-6,101

-4,579

-4,636

-80,828

-2,362

-2,156

-4,773

-5,771

-6,115

-4,401

Cash flows from financing activities
Repayment of borrowings old revolving credit facility

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-134,624

93,689

46,004

11,088

-200,092

178,085

3,934

53,023

-

-

-

-

Repayment of borrowings - revolving credit facility

852,318

593,475

460,477

482,496

861,425

554,790

435,267

464,453

776,698

533,221

353,293

355,680

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from borrowings - revolving credit facility

572,438

713,355

597,968

505,005

551,826

752,963

479,316

519,827

439,053

688,914

427,250

384,557

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Noncontrolling interest investment, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

591

472

-

-

-

-

-

-

-

-

-

-

-

-

Loss attributable to noncontrolling interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

85

-

-

-

-

-

-

-

-

Proceeds from exercise of equity awards

-1

0

76

40

45

0

0

56

46

1,110

253

169

0

4

9

247

41

0

73

303

64

25

82

558

890

256

524

236

243

913

111

158

103

23

-1

494

Proceeds from notes payable, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

14,107

-

-

-

-

-

-

-

-

-

-

106,974

35,000

Taxes paid for net share settlements

3,872

1,001

1,680

5,686

895

3,745

13

1,085

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

4,316

57

59

0

946

-

-

-

-

-

-

-

-

Excess tax benefit from exercise/vesting of equity awards

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,548

1,140

4,290

389

-431

1,665

1,292

150

358

416

946

-821

-92

616

1,433

Net cash used in financing activities

-283,937

118,684

103,908

16,863

-330,760

194,428

44,036

54,345

-337,599

150,696

74,203

29,046

283,682

85,704

-2,002

247

-171,799

166,337

5,576

303

-160,733

92,381

112,580

15,111

-165,222

94,497

48,971

11,755

-202,585

179,950

6,176

54,127

-215,726

100,086

107,589

36,927

Foreign currency translation adjustments

2,495

-743

1,106

-69

2,747

-2,014

-5,489

572

2,255

849

3,467

-2,920

264

-1,643

-1,122

2,308

-1,111

558

-2,762

497

-2,511

440

-145

-144

-569

260

-1,388

246

182

393

-57

2

-55

112

-12

-22

Net increase (decrease) in cash and cash equivalents

141,571

16,233

-8,744

-21,826

4,058

23,774

-28,742

25,272

-22,453

9,447

-8,352

-12,823

34,961

46

-50,498

-37,139

78,289

35,488

-66,898

-42,646

79,196

27,624

-2,076

1,519

-7,720

13,357

-4,166

-6,740

-12,286

16,993

-15,683

13,676

8,577

7,517

-4,135

2,656

Supplemental disclosures of cash flow information:
Cash payments:
Interest, net

8,489

10,087

8,193

7,542

9,736

9,423

10,070

6,578

6,980

8,436

9,023

7,205

18,610

1,415

809

939

2,104

1,655

1,036

749

1,734

2,259

1,847

1,208

2,380

2,709

1,606

1,805

2,202

5,892

913

989

1,864

2,173

629

562

Income tax payments, net

25,045

1,184

3,947

8,844

24,004

1,576

8,535

9,930

28,370

815

1,769

1,980

26,449

-11,409

1,103

2,772

60,864

699

700

5,804

46,484

-2,127

1,218

6,055

49,631

571

1,912

12,962

23,748

429

19

4,419

17,109

-198

547

785