Acushnet holdings corp. (GOLF)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16
Cash flows from operating activities
Net income

8,975

19,618

30,006

38,902

36,039

12,264

7,349

40,369

43,090

18,899

10,634

34,038

39,630

1,247

-4,402

27,478

25,192

Adjustments to reconcile net income to cash used in operating activities
Depreciation and amortization

10,269

11,814

11,592

9,799

9,797

10,439

9,345

10,387

10,325

10,204

10,214

10,292

10,161

10,281

10,001

10,282

10,270

Unrealized foreign exchange gains

200

2,400

-1,885

-791

61

-903

-3,573

-1,165

1,681

1,143

1,729

1,193

-37

1,278

336

115

618

Amortization of debt issuance costs

213

777

369

369

369

369

369

340

331

331

330

330

330

342

524

1,417

1,095

Amortization of discount on bonds payable

-

-

-

-

-

-

-

-

-

-

-

-

-

0

3,681

139

143

Fair Value Adjustment of Warrants

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

4,233

1,879

Share-based compensation

2,187

2,984

2,605

3,601

1,785

4,783

4,670

4,984

4,126

3,709

3,675

4,054

3,847

-

-

-

-

Gain on disposals of property, plant and equipment

2

-5

-6

-2

0

-

-

-

-

-446

-12

-135

-319

-88

-16

30

-96

Deferred income taxes

-1,194

-6,225

-2,656

11,466

5,889

-7,661

6,015

10,818

6,369

-7,143

1,946

12,970

13,499

-17,726

-3,513

16,783

12,305

Changes in operating assets and liabilities
Accounts receivable

102,181

-60,944

-32,020

-26,838

146,894

-56,369

-65,439

-31,389

152,626

-18,840

-59,567

-57,927

138,926

-14,898

-93,729

-48,600

144,597

Inventories

-19,092

48,055

14,533

-20,047

-17,373

34,797

8,958

-37,103

-7,457

41,221

21,367

-19,496

-14,720

-

-

-

-

Inventories

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-8,686

Accounts payable

-2,652

8,574

-7,398

5,184

4,491

-5,699

1,377

-702

-765

-1,262

13,315

-17,506

6,427

2,355

5,211

-15,304

9,706

Accrued taxes

-2,125

13,198

4,687

-7,289

-7,941

13,298

-3,730

-7,341

2,084

11,885

-3,547

-7,661

-10,960

16,538

-56

-3,647

1,831

Other assets and liabilities

4,894

21,882

3,663

-20,366

10,912

16,575

20,011

-22,794

5,542

22,698

1,069

-20,741

162,572

-

-

-

-

Accrued expenses and other liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,484

9,754

121,117

Other assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-7,786

2,059

1,934

Other noncurrent liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-9,165

776

-146,604

Interest due to related parties

-

-

-

-

-

-

-

-

-

-

-

-

-

-4,544

-22,873

7,424

7,423

Cash flows used in operating activities

-72,512

39,352

54,920

130,076

-90,065

33,668

65,508

151,389

-86,832

-9,153

71,981

133,623

-223,488

-

-

-

-

Cash flows used in operating activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-94,010

Cash flows from investing activities
Additions to property, plant and equipment

5,741

14,790

7,571

5,133

5,462

12,139

7,005

7,770

5,887

6,064

3,958

5,147

3,676

5,673

5,386

3,608

4,508

Business acquisitions, net of cash acquired

-

-

-

-

-

14,552

-127

-19

2,496

-

-

-

-

-

-

-

-

Other investing activity

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

Cash flows used in investing activities

-5,741

-14,790

-35,675

-5,133

-5,462

-26,691

-6,878

-7,751

-8,383

-6,064

-3,958

-5,147

-3,676

-

-

-

-

Cash flows used in investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-4,508

Cash flows from financing activities
Proceeds from short-term borrowings, net

125,133

-5,499

17,675

-98,839

140,778

-

-

-94,844

113,293

-

-

-

-

-

-

-

-

Repayments of delayed draw term loan A facility

0

48,750

1,875

1,875

1,875

1,875

11,250

26,250

1,250

1,250

1,250

1,250

1,250

-

-

-

-

Repayments of term loan facility

4,375

-

7,031

7,032

7,031

-

4,688

4,687

4,688

-

4,689

4,687

4,688

-

-

-

-

Proceeds from short-term borrowings, net

-

-

-

-

-

-

-

-

-

-

-

-

125,982

-

-34,030

-39,821

45,688

Proceeds from delayed draw term loan A facility

-

-

-

-

-

-

-

-

-

0

0

0

100,000

-

-

-

-

Repayments of delayed draw term loan A facility

0

-

-

-

1,875

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of common stock

6,976

18,943

4,231

6,178

0

-

-

-

-

-

-

-

-

-

-

-

-

Debt issuance costs

14

2,373

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Dividends paid on common stock

11,521

10,523

10,534

10,561

11,872

9,719

9,719

9,721

9,898

8,942

8,934

17,868

0

-

-

-

-

Proceeds from revolver loan facility

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

63,000

Payment of employee restricted stock tax withholdings

380

106

0

0

10,924

0

0

0

2,634

0

0

0

903

-

-

-

-

Cash flows provided by financing activities

101,867

-45,570

-7,496

-126,338

109,076

-33,164

-48,210

-142,332

94,823

-11,107

-78,207

-120,572

219,141

-

-

-

-

Effect of foreign exchange rate changes on cash and restricted cash

-1,874

985

-508

-516

314

-791

-106

-1,998

1,040

-

-

-

-

-

-

-

-

Net increase in cash and restricted cash

21,740

-20,023

11,241

-1,911

13,863

-26,978

10,314

-692

648

-

-

-

-

-

-

-

-

Cash flows provided by financing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

108,688

Effect of foreign exchange rate changes on cash

-

-

-

-

-

-

-

-

-

-

2,478

255

1,621

-5,126

711

757

1,233

Net increase (decrease) in cash

-

-

-

-

-

-

-

-

-

-

-7,706

8,159

-6,402

-9,728

8,169

10,162

11,403

Supplemental information
Non-cash additions to property, plant and equipment

1,161

858

1,132

608

222

920

267

607

774

2,676

-1,065

1,144

121

815

-335

541

149

Non-cash additions to right-of-use assets obtained in exchange for operating lease obligations

2,020

-

-

-

1,635

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash additions to right-of-use assets obtained in exchange for finance lease obligations

357

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Treasury Stock, Value, Acquired, Cost Method, Share Repurchase Liability

6,976

-8,607

4,231

6,178

0

-

-

-

-

-

-

-

-

-

-

-

-