Gnc holdings, inc. (GNC)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Cash flows from operating activities:
Net loss

-35,112

69,780

-150,262

-285,219

219,299

255,872

265,021

240,196

132,333

96,567

69,524

Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization expense

35,422

47,105

56,809

60,038

57,237

56,337

51,814

49,257

46,790

46,993

46,665

Loss (income) from equity method investments

5,296

0

0

-

-

-

-

-

-

-

-

Amortization of debt costs

20,751

23,199

13,160

12,698

6,421

1,729

-

-

2,756

4,694

4,478

Amortization of debt costs

-

-

-

-

-

-

2,507

2,439

-

-

-

Stock-based compensation

4,563

6,808

8,359

8,833

6,280

5,857

7,835

-

-

-

-

Loss on debt refinancing

-

-

-

-

-

-

-5,712

-1,343

-19,855

-

-

Long-lived asset impairments and other store closing costs

0

38,200

457,800

476,553

28,333

0

0

-

-

-

-

Gain on convertible debt and debt refinancing costs

3,214

0

10,996

-

-

-

-

-

-

-

-

Increase in provision for inventory losses

-

-

-

-

-

-

-

13,067

18,745

16,250

11,151

Gains on refranchising

-

-

-

16,042

7,580

9,940

2,677

803

-

-

-

Gain on convertible debt exchange and debt financing costs

-

-

-

0

-

-

-

-

-

-

-

Loss on debt refinancing

0

-16,740

0

0

-

-

-

-

-

-

-

Loss on net asset exchange for the formation of the joint ventures

-21,293

0

0

-

-

-

-

-

-

-

-

Loss (gain) on forward contracts for the issuance of convertible preferred stock

-16,787

88,942

0

0

-

-

-

-

-

-

-

Third-party fees associated with refinancing

0

16,322

0

0

-

-

-

-

-

-

-

Distributions received from equity method investments

3,856

0

0

-

-

-

-

-

-

-

-

Gain on convertible debt exchange and debt financing costs

-

-

-

-

0

-

-

-

-

-

-

Deferred income tax benefit

20,596

-23,265

-191,578

-30,427

450

-6,418

-1,778

-

-

-

21,431

International franchise receivable reserve adjustment

-

-

-

-

-

-

-

-349

-

-

-

Reversal of contingent purchase price liability

-

-

-

-

-

-

-859

0

-

-

-

Other

-

-

-

-

-

-

-

-

-

-

-2,855

Other

2,467

-513

-314

-

-

-

-

-

-

-

-

Changes in assets and liabilities:
Decrease (increase) in receivables

4,411

1,358

448

-11,053

-422

-9,766

13,802

16,747

13,300

9,707

5,968

Decrease (increase) in inventory

-18,018

-16,757

-72,903

32,722

-5,381

24,089

54,435

79,958

56,919

26,324

15,661

Increase in prepaid and other current assets

11,148

-14,687

5,529

12,872

-776

-2,260

-2,548

-3,959

2,783

3,110

-

Increase in accounts payable

44,497

-3,351

-23,960

26,980

22,375

-8,978

6,628

651

23,243

2,705

-28,119

(Decrease) increase in deferred revenue and accrued liabilities

1,006

1,252

-10,181

-12,839

-

-

-

-

-

-

-

Decrease in deferred revenue and accrued liabilities

-

-

-

-

9,841

12,497

-27,907

16,395

4,934

29,360

-

Decrease in net lease liabilities

-31,880

-

-

-

-

-

-

-

-

-

-

Decrease in interest payable

-

-

-

-

-

-

-

-

-

-

-1,193

Increase in accrued liabilities

-

-

-

-

-

-

-

-

-

-

2,083

Other operating activities

1,675

4,945

-4,751

-2,164

-5,298

-8,892

1,161

6,477

980

15,928

-6,725

Net cash (used in) provided by operating activities

96,520

95,868

220,508

208,198

354,533

303,785

-

-

-

-

-

Net cash provided by operating activities

-

-

-

-

-

-

239,446

222,973

174,674

141,500

113,971

Cash flows from investing activities:
Capital expenditures

15,151

18,981

32,123

59,579

45,827

70,455

50,247

41,930

43,817

32,522

28,682

Refranchising proceeds, net of store acquisition costs

2,395

2,514

1,994

39,177

3,374

3,555

-

-

-

-

-

Store acquisition costs

-

-

-

2,018

3,196

8,587

27,562

0

19,840

-

-

Capital contribution to the newly formed joint ventures

13,079

0

0

-

-

-

-

-

-

-

-

Proceeds from the assets exchange for the formation of the joint ventures

99,221

0

0

-

-

-

-

-

-

-

-

Proceeds from the sale of Lucky Vitamin

0

0

6,367

0

0

-

-

-

-

-

-

Net cash provided by investing activities

73,386

-16,467

-23,762

-22,420

-45,649

-75,487

-

-

-

-

-

Other investing activities

-

-

-

-

-

-

465

1,275

1,887

3,551

13,492

Net cash used in investing activities

-

-

-

-

-

-

-78,274

-43,205

-65,544

-36,073

-42,174

Cash flows from financing activities:
Borrowings under revolving credit facility

22,000

410,000

317,500

234,500

43,000

0

-

-

-

-

-

Payments on revolving credit facility

22,000

410,000

444,500

150,500

0

0

-

-

-

-

-

Proceeds from the issuance of convertible preferred stock

199,950

100,000

0

0

-

-

-

-

-

-

-

Payments on term loan facility

-

-

-

-

169,060

5,443

-

-

-

-

-

Convertible notes repurchase

24,708

0

0

-

-

-

-

-

-

-

-

Repurchase of Series A preferred stock

-

-

-

-

-

-

-

-

223,107

-

-

Net proceeds from sale of Class A common stock

-

-

-

-

-

-

-

-

237,253

233

-

Proceeds from issuance of long-term debt

-

-

-

-

-

-

249,552

199,000

1,196,200

-

-

Proceeds from issuance of convertible senior notes

-

-

-

-

287,500

0

0

-

-

-

-

Revolving credit facility borrowings

-

-

-

-

-

-

0

-

-

-

-

Payments on long-term debt

-

-

-

-

-

-

3,379

2,689

1,355,973

1,721

25,327

Debt issuance costs

-

-

-

1,827

8,225

0

-

-

-

-

-

Original issuance discount and revolving credit facility fees

10,365

35,235

0

0

-

-

-

-

-

-

-

Fees associated with the issuance of convertible preferred stock

12,814

3,587

0

0

-

-

-

-

-

-

-

Debt issuance costs

-

-

-

-

-

-

2,397

1,335

17,346

-

45

Proceeds from Stock Options Exercised

-

-

-

353

1,743

22,170

14,588

25,972

28,550

-

-

Gross excess tax benefits from stock-based compensation

-

-

-

162

604

3,743

15,369

37,468

22,409

-

-

Minimum tax withholding requirements

233

296

253

1,169

574

762

1,327

-

-

-

-

Payments for Repurchase of Common Stock

-

-

-

229,169

479,799

283,226

309,255

359,990

61,634

-

1,065

Payments of Ordinary Dividends, Common Stock

-

-

-

55,336

59,647

57,491

57,437

45,216

-

-

-

Net cash provided by (used) in financing activities

-119,256

-75,768

-168,106

-207,536

-384,458

-321,009

-

-

-

-

-

Effect of exchange rate changes on cash and cash equivalents

-828

-410

897

-

-

-

-

-

-

-

-

Net increase in cash and cash equivalents

49,822

3,223

29,537

-

-

-

-

-

-

-

-

Non-cash investing activities:
Other financing activities

-

-

-

-

-

-

-

-2,500

-

-

-

Net cash used in financing activities

-

-

-

-

-

-

-94,286

-149,290

-173,648

-1,488

-26,437

Effect of exchange rate changes on cash and cash equivalents

-

-

-

-240

-1,798

328

790

-375

-946

15

249

Net increase (decrease) in cash and cash equivalents

-

-

-

-21,998

-77,372

-92,383

-

-

-

-

-

Net increase in cash and cash equivalents

-

-

-

-

-

-

67,676

30,103

-65,464

103,954

45,609

Cash (received) paid during the period for:
Income taxes

13,808

-3,841

35,476

93,216

-

-

-

-

-

-

-

Interest

83,284

104,342

51,205

47,597

-

-

-

-

-

-

-

Non-cash investing activities:
Income taxes

-

-

-

-

121,006

125,088

143,573

102,335

51,088

50,834

16,012

Interest

-

-

-

-

42,911

48,940

40,696

45,088

64,122

61,862

66,655

Capital expenditures in current liabilities

1,373

1,238

1,683

7,556

6,018

4,182

2,489

-

-

-

-

Net assets contributed to the joint ventures (Note 8)

202,487

0

0

-

-

-

-

-

-

-

-

Non-cash financing activities:
Issuance of shares associated with exchange of convertible senior notes

0

0

71,670

0

0

-

-

-

-

-

-

Original issuance discount

0

11,445

0

0

-

-

-

-

-

-

-

Tranche B-1 Term Loan
Payments on Term Loans

147,312

4,550

40,853

4,550

-

-

-

-

-

-

-

Tranche B-2 Term Loan
Payments on Term Loans

123,774

132,100

0

0

-

-

-

-

-

-

-