GENERAC HOLDINGS INC. GNRC Cash Flow

Generac holdings inc. (GNRC)

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
Operating activities
Net income
249,950	252,308	259,069	260,694	253,219	241,220	246,746	210,000	181,145	159,557	117,345	103,581	99,148	97,178	66,349	74,373	68,274	77,747	117,955	120,416	159,597	174,613	173,741	184,337	158,566	174,539	154,308	132,756	113,837	93,223	332,067	343,905	349,859	324,643	0	0	0
Adjustment to reconcile net income to net cash provided by operating activities:
Depreciation
33,335	32,265	29,806	27,881	26,510	25,296	24,322	24,025	23,764	23,127	22,784	22,307	21,883	21,465	20,260	19,183	17,899	16,742	15,982	15,182	14,315	13,706	13,010	12,341	11,620	10,955	10,146	9,424	8,865	8,293	8,155	8,158	8,160	8,103	0	0	0
Amortization of intangible assets
31,083	28,644	25,319	23,591	21,822	22,112	24,099	25,663	27,310	28,861	28,982	31,251	32,339	32,953	31,656	28,430	26,193	23,591	22,763	21,755	20,874	21,024	22,007	23,733	24,979	25,819	28,498	33,884	39,827	45,867	49,352	48,950	48,518	48,020	0	0	0
Amortization of original issue discount and deferred financing costs
4,177	4,712	4,792	4,758	4,749	4,749	4,670	4,575	4,203	3,516	3,111	3,126	3,374	3,940	4,290	4,207	4,780	5,429	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of original issue discount
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,032	2,450	1,910	2,074	2,268	2,393	2,177	1,598	0	0	0	-	-	-	-
Amortization of deferred financing costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,038	3,016	2,888	2,698	2,523	2,334	2,253	2,161	2,065	2,006	1,953	1,986	0	0	0
Amortization of unrealized loss on interest rate swaps
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,381	3,384	4,358	3,084	2,082	0	0	0	-	-	-	-
Loss on extinguishment of debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-4,795	0	0	0	-	-	-	-	-15,336	-15,336	-15,336	-11,838	-14,308	-14,499	-14,499	-4,686	-377	0	0	0
Provision for losses on accounts receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	501	516	879	1,037	1,068	773	350	204	-24	89	43	-7	0	0	0
Deferred income taxes
15,153	18,733	25,896	28,451	24,468	23,600	11,384	9,259	17,255	19,502	40,724	45,725	39,758	38,297	22,545	27,092	28,842	26,955	29,625	18,668	28,454	37,878	60,884	75,496	75,206	82,675	80,266	74,143	64,265	62,429	-198,644	-214,560	-219,931	-238,170	0	0	0
Loss on disposal of property and equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-136	-429	-430	-370	-524	-206	-156	-261	-99	-83	-114	-10	0	0	0
Share-based compensation expense
17,674	16,694	16,130	15,500	15,051	14,563	11,713	11,378	10,679	10,205	10,090	9,925	9,640	9,493	9,157	8,537	8,218	8,241	10,098	11,499	11,798	12,612	12,300	12,379	12,759	12,368	12,230	11,715	11,272	10,780	11,205	10,186	9,085	8,646	0	0	0
Other
-1,436	-1,086	-1,782	-2,275	-2,438	-2,474	-1,298	-632	-392	-410	-533	-458	-166	-127	-118	-301	-612	-540	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net changes in operating assets and liabilities, net of acquisitions:
Accounts receivable
44,426	-8,231	33,137	27,161	15,017	43,243	20,503	60,237	34,481	32,857	77,584	9,330	9,092	21,223	-12,806	29,723	14,083	-9,610	-10,921	-65,880	-46,266	2,988	17,736	7,273	-12,067	5,257	-1,879	47,721	31,530	137	-13,953	-5,068	26,205	22,235	0	0	0
Inventories
-19,868	-26,369	25,447	88,159	145,440	152,594	132,322	100,342	36,109	22,986	-17,882	-7,490	10,243	-14,680	-43,580	-74,350	-35,804	-9,084	15,310	75,264	41,895	-3,508	679	-22,533	11,550	52,488	68,281	29,608	26,963	31,656	59,413	63,242	32,274	11,224	0	0	0
Other assets
5,082	358	-11,614	-3,599	10,313	6,362	27,419	28,899	12,317	14,783	6,109	822	-4,480	-406	-7,154	-10,558	-926	-5,063	-260	1,581	-2,342	-2,456	8,129	10,245	10,546	10,902	6,362	7,928	7,873	8,416	10,589	8,323	7,647	6,834	0	0	0
Accounts payable
-19,411	-69,404	-44,374	-15,622	58,622	86,359	90,553	102,790	58,324	42,788	35,320	-11,189	14,281	32,908	-18,163	-27,611	-36,738	-27,771	-17,172	25,929	13,429	15,269	20,973	-18,114	-23,989	-5,847	12,935	21,129	9,040	-3,898	-4,291	9,547	17,777	18,517	0	0	0
Accrued wages and employee benefits
-7,701	-3,724	-7,935	-6,796	-2,335	12,626	12,861	8,713	6,221	6,105	6,503	932	-1,408	5,196	787	2,540	4,244	-5,361	1,465	-713	-152	-9,405	-11,316	-5,631	-1,951	6,248	7,013	6,654	2,549	3,168	5,857	4,501	4,080	6,516	0	0	0
Other accrued liabilities
2,486	-16,252	-18,131	-35,683	145	16,972	29,892	76,751	47,991	37,029	33,898	8,772	7,566	10,091	4,430	364	3,529	445	6,817	5,006	7,306	6,229	5,764	5,840	274	9,491	16,067	32,342	43,680	39,915	36,277	32,311	28,912	22,175	0	0	0
Excess tax benefits from equity awards
4,726	2,263	3,353	3,144	2,421	1,877	2,923	2,937	2,912	3,152	1,827	1,594	1,627	7,920	7,340	7,394	9,482	9,559	10,778	12,637	11,250	10,972	11,229	10,381	25,775	11,553	15,939	14,535	-2,375	4,588	0	0	0	-	-	-	-
Net cash provided by operating activities
305,662	308,887	242,031	190,184	232,830	247,227	275,703	282,703	291,465	257,322	232,226	214,163	213,796	241,122	241,273	228,275	185,513	188,619	187,334	209,280	241,890	252,986	247,242	270,911	258,031	259,944	261,583	250,205	235,276	235,594	209,921	201,435	195,625	169,712	0	0	0
Investing activities
Proceeds from sale of property and equipment
72	95	84	67	236	214	218	233	48	82	88	1,358	1,388	1,360	1,349	64	83	105	492	475	417	394	12	52	86	80	0	0	0	-	-	-	-	14	0	0	0
Proceeds from beneficial interests in securitization transactions
2,505	2,630	3,144	3,400	3,809	3,933	4,517	4,325	4,032	3,794	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Expenditures for property and equipment
57,794	60,802	67,471	69,651	57,007	47,601	42,180	35,557	36,209	33,261	26,278	26,493	26,922	30,467	31,390	30,397	31,216	30,651	32,075	35,630	36,292	34,689	39,235	34,036	31,373	30,770	23,224	26,939	24,576	22,392	21,024	14,160	12,629	12,060	0	0	0
Acquisition of business, net of cash acquired
50,452	112,001	114,377	106,455	126,620	65,440	71,926	71,829	722	-1,257	-1,257	-660	-1,504	61,386	60,691	134,901	135,436	73,782	0	0	0	-	-	-	-	-	-	-	-	47,044	86,182	86,186	86,186	83,907	0	0	0
Net cash used in investing activities
-105,669	-170,078	-178,620	-172,639	-179,582	-108,894	-109,371	-102,828	-32,851	-28,128	-25,873	-26,119	-26,443	-93,535	-90,732	-165,234	-166,569	-104,328	-161,947	-95,689	-96,697	-95,491	-86,684	-156,804	-145,146	-144,549	-139,553	-63,062	-69,250	-69,345	-107,177	-100,320	-98,804	-95,953	0	0	0
Financing activities
Proceeds from short-term borrowings
80,503	73,340	94,435	77,622	53,181	53,965	55,880	51,689	85,302	101,991	89,038	80,869	51,208	28,712	26,181	27,662	30,892	26,384	15,970	11,550	6,550	6,550	4,900	6,000	20,007	16,007	0	0	0	-	-	-	-	-	-	-	-
Proceeds from long-term borrowings
-	-	-	-	-	-	-	-	-	3,069	0	0	1,278	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	1,455,614	1,455,614	1,455,614	573,614	0	0	0	0
Repayments of short-term borrowings
71,762	59,518	60,839	44,033	37,251	27,880	46,400	50,075	83,591	114,874	100,463	94,399	58,798	27,755	16,195	18,110	21,044	23,149	16,901	30,744	26,129	26,444	33,179	23,538	25,535	18,982	10,544	25,510	23,018	23,000	0	0	0	-	-	-	-
Repayments of long-term borrowings and finance lease obligations
53,317	53,049	53,773	53,030	102,327	101,827	155,588	158,466	116,827	117,475	39,702	36,781	38,637	37,627	11,207	11,025	100,497	150,826	175,725	225,921	141,084	94,035	72,157	22,001	822,260	901,184	900,182	900,000	659,500	1,175,124	1,207,498	1,207,498	657,229	59,355	0	0	0
Stock repurchases
-	-	-	-	-	25,656	25,656	25,656	55,668	30,012	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment of contingent acquisition consideration
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment of debt issuance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4	445	682	22,380	22,376	21,935	22,461	14,935	25,691	25,691	24,928	10,756	0	0	0	0
Cash dividends paid to noncontrolling interest of subsidiary
-	-	-	-	-	314	314	314	314	0	0	0	0	76	83	85	85	1,436	1,626	1,870	1,995	902	0	0	0	-	-	-	-	404,332	0	0	0	-	-	-	-
Cash dividends paid for restricted stock upon vesting
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-
Taxes paid related to equity awards
10,948	6,438	8,631	8,375	7,189	5,659	6,190	5,659	5,615	5,892	4,179	3,867	3,841	14,008	12,884	12,708	15,722	12,956	14,285	15,557	13,312	12,160	12,775	12,679	12,723	14,988	15,613	14,899	15,564	6,425	3,651	3,156	1,649	371	0	0	0
Proceeds from exercise of stock options
8,792	9,395	8,380	6,909	6,407	5,614	10,425	7,821	7,244	6,951	3,340	2,877	2,730	1,623	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	310	0	0	0
Excess tax benefits from equity awards
-	-	-	-	-	-	-	-	-	-	-	-	-	7,920	7,340	7,387	9,482	9,559	10,778	12,644	11,250	10,972	11,229	10,381	10,387	11,553	12,219	11,443	11,551	4,588	2,060	1,746	931	200	0	0	0
Net cash used in financing activities
-56,380	-41,918	-20,713	-19,996	-37,456	-52,034	-120,504	-134,517	-171,579	-160,143	-133,820	-198,488	-199,363	-195,705	-142,396	-141,454	-99,033	-154,483	-148,255	-151,958	-164,720	-116,023	-103,148	-42,986	6,382	-73,399	-63,422	-70,823	-203,429	-151,352	-183,498	-169,554	-95,088	-59,216	0	0	0
Effect of exchange rate changes on cash and cash equivalents
2,577	1,510	-661	1,104	-688	-289	-607	-715	1,633	2,149	2,084	1,874	134	-467	-436	-1,521	-626	-3,712	-3,840	-4,017	-4,128	-1,858	-769	240	136	128	0	0	0	-	0	0	0	-	-	-	-
Net decrease in cash and cash equivalents
146,190	98,401	42,037	-1,347	15,104	86,010	45,221	44,643	88,668	71,200	74,617	-8,570	-11,876	-48,585	7,709	-79,934	-80,715	-73,904	-126,708	-42,384	-23,655	39,614	56,641	71,361	119,403	42,124	58,555	116,291	-37,393	14,897	-80,754	-68,439	1,733	14,543	0	0	0