Hormel foods corporation (HRL)
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'11Jan'11Oct'10Jul'10Apr'10Jan'10
Operating Activities
Net Earnings

242,953

255,566

199,427

282,636

241,519

261,496

210,353

237,522

303,211

218,363

182,551

210,886

235,303

244,190

195,776

215,384

235,167

187,443

146,956

180,435

172,430

171,848

139,014

140,706

154,458

158,485

113,905

126,641

131,045

134,286

112,407

128,935

129,333

118,495

99,964

110,702

150,035

122,608

86,364

78,535

112,269

Adjustments to Reconcile to Net Cash Provided by Operating Activities:
Depreciation

41,194

39,904

38,820

37,610

36,848

37,619

37,505

38,214

35,867

32,664

30,745

29,938

29,247

33,585

30,133

30,184

29,679

32,450

31,082

31,040

30,720

30,503

31,140

29,620

29,429

29,547

29,419

28,750

27,655

28,572

26,693

26,865

28,389

28,954

28,373

28,665

28,697

30,727

28,071

27,870

28,391

Amortization

8,135

3,127

2,600

3,130

3,170

3,153

3,300

2,900

3,300

2,192

2,048

2,071

2,072

1,863

2,479

1,920

2,125

1,957

2,218

1,928

2,039

2,407

2,310

2,304

2,331

2,317

2,406

2,567

2,189

2,295

2,227

2,027

2,426

2,284

2,273

2,419

2,500

2,746

2,576

2,751

2,459

Equity in Earnings of Affiliates

7,588

11,068

3,384

13,291

11,458

8,814

13,141

13,486

23,531

12,214

3,956

10,121

13,299

35,780

-3,619

70

6,454

7,957

-20,908

-2,126

1,639

2,033

-5,577

3,583

-5,285

2,129

-12,645

-2,835

-156

-6,449

375

7,816

-159

7,618

5,562

6,672

2,874

4,131

2,222

3,952

2,821

Distribution from Equity Method Investees

10,000

2,500

10,000

10,000

0

10,000

9,999

10,001

23

8,000

6,999

9,999

2,523

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Provision for Deferred Income Taxes

49

66,562

19

-38,065

125

48,669

18,376

-5,630

-68,856

50,807

23

121

11,215

39,899

6,825

-662

-1,735

10,360

-3,822

12,280

1,161

7,418

-257

2,211

428

7,076

-5,743

2,129

-2,395

4,485

976

-592

-201

1,712

8,227

-6,879

3,692

28,144

-2,602

-954

4,841

(Gain) Loss on Property/Equipment Sales and Plant Facilities

23

-235

1,504

-8

-450

1,537

-54

253

1,131

961

2

-2,086

801

58

-50

38

-126

-1,405

1,516

12

5,117

406

617

275

369

1,436

650

-193

234

-75

-34

101

178

382

197

290

-237

313

138

14

-71

Non-cash Investment Activities

12,761

402

2,146

8,116

9,516

-1,788

1,245

-2,429

10,880

1,074

1,172

1,410

1,208

40

872

2,456

-2,081

-351

-1,058

1,188

1,068

-465

1,270

447

135

1,253

-432

742

1,142

987

218

1,270

1,039

-3,638

-835

855

-377

1,484

-348

720

-96

Stock-based Compensation Expense

9,298

3,000

3,193

5,568

7,946

2,939

6,265

4,052

7,339

1,724

2,006

4,621

7,240

1,738

1,913

7,016

7,162

1,457

1,711

7,025

5,524

1,703

1,746

5,987

4,957

1,167

4,523

6,330

5,576

2,519

3,062

4,889

6,240

2,409

2,578

4,002

8,240

2,534

2,682

3,824

5,362

Excess tax benefit from stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,734

16,307

20,149

8,811

3,379

7,797

2,963

6,886

7,776

5,927

4,111

4,476

792

4,877

13,261

2,020

2,193

2,705

1,929

1,615

3,335

5,860

4,395

3,055

913

2,819

3,511

Changes in Operating Assets and Liabilities, Net of Acquisitions:
Decrease (Increase) in Accounts Receivable

-11,492

52,455

-8,675

3,628

-36,262

42,597

8,411

-17,512

-69,629

46,439

24,006

-4,221

-36,507

26,863

9,424

-6,240

-50,951

56,519

-51,654

3,972

-31,288

35,481

21,344

10,137

-46,476

37,102

52,159

-4,297

-40,505

32,616

35,077

16,843

-38,605

33,183

22,135

-885

-24,262

47,047

27,532

7,665

-23,597

(Increase) Decrease in Inventories

14,915

-66,221

78,463

80,700

30,901

-40,634

-10,167

37,839

21,255

-113,910

25,090

30,279

17,513

-48,298

26,527

32,613

1,439

6,938

756

-53,307

-36,824

-84,586

23,391

129,001

-46,161

-35,759

4,876

-3,977

3,161

23,474

14,375

29,844

-2,995

19,948

55,487

23,108

-6,491

2,896

23,683

36,974

10,356

(Increase) Decrease in Prepaid Expenses and Other Current Assets

5,451

9,516

-6,609

1,573

5,625

-8,092

8,937

4,495

-569

126

543

2,365

19,425

-6,632

-3,822

5,136

-7,917

24,791

-27,596

640

-18,354

-6,558

4,250

-13,581

4,297

15,395

-5,584

2,299

-2,318

4,674

-26,650

17,849

-3,067

8,793

26,618

-26,291

-19,633

-34,557

-7,462

952

1,778

Increase (Decrease) in Pension and Post-retirement Benefits

647

-18,889

2,093

2,143

4,237

-13,379

-1,362

-607

2,132

-6,905

-12,838

3,230

3,238

-8,244

-28,612

1,299

1,047

-7,424

-22,766

864

327

-6,771

-26,410

-697

1,234

10,492

-13,978

8,258

6,511

4,730

-23,318

4,109

4,460

9,634

-17,016

6,347

6,232

-37,447

-12,734

8,280

6,636

(Decrease) Increase in Accounts Payable and Accrued Expenses

-135,988

50,239

13,999

38,971

-147,318

132,558

38,665

-64,770

-58,077

163,956

48,744

-37,096

-178,157

64,683

40,931

-118,610

-27,787

117,882

-6,436

-78,931

-39,944

98,602

24,859

-83,599

32,445

25,941

79,575

-62,314

-53,949

114,088

-25,471

-28,934

-60,167

75,467

31,120

-25,060

-77,795

88,967

33,605

-8,402

-51,321

Increase (Decrease) in Net Income Taxes Payable

41,376

-44,903

7,329

-40,041

61,686

646

-1,711

-46,465

65,881

-20,700

48,361

-100,599

98,307

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,771

0

-2,770

1,434

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net Cash Provided by Operating Activities

188,418

350,084

207,319

178,168

187,425

498,524

299,864

139,164

304,177

502,492

250,841

85,303

195,249

418,334

212,551

130,444

278,691

301,747

244,508

199,235

246,502

352,513

119,331

-39,257

314,292

208,956

171,291

115,745

141,813

233,728

71,022

60,871

152,160

171,054

43,506

110,587

165,332

213,910

92,284

65,403

113,935

Investing Activities
Net (Purchase) Sale of Securities

16

612

7,220

6,664

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from Sale of Business

-

-

-

-

-

-

-

-

-

0

0

0

135,944

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net sale of trading securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

77,558

-

-

-

-

-

-

-

-

-

-

-

-

Acquisitions of Businesses/Intangibles

-

-

-

-

-

0

-5

-429

858,102

520,463

0

0

0

-

-

-

-

-

-

-

-

424,328

374

101

41,401

-

-

-

-

0

0

0

168

0

0

0

7,207

126

-166

27,760

384

Purchases of Property/Equipment

58,211

139,607

66,610

48,191

39,430

145,632

102,815

87,466

53,694

102,775

41,536

39,080

37,895

89,696

65,976

66,372

33,480

47,261

41,818

27,310

27,674

47,311

34,764

40,025

37,038

38,031

23,237

23,441

22,053

38,388

35,698

27,759

30,458

40,658

20,361

19,155

16,737

26,069

23,630

21,513

18,611

Proceeds from Sales of Property/Equipment

1,114

1,144

5,091

862

30,305

2,507

803

5,688

751

1,478

1,119

-2,769

3,926

3,637

-119

1,298

1,411

3,477

3,974

1,119

9,931

1,717

2,337

1,953

4,278

3,645

2,208

1,392

2,919

1,054

1,707

748

1,055

890

1,325

891

1,280

1,715

831

1,410

959

(Increase) Decrease in Investments, Equity in Affiliates, and Other Assets

4,509

2,937

3,432

7,412

-7,302

683

9,769

-188

-2,718

-9,946

3,823

4,624

-3,596

-3,349

-19,043

1,090

11,088

-8,222

-1,955

-9,553

14,932

-2,623

1,016

-4,139

4,028

-1,809

206

-12,935

7,919

3,482

12,915

3,748

998

-58,263

3,545

-678

4,143

-64,494

175

-30,580

-565

Proceeds from Company-owned Life Insurance

1,118

1,303

2,285

14,026

144

4,410

2,266

0

3,028

0

10,328

-5,005

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net Cash (Used in) Provided by Investing Activities

-60,504

-134,788

-69,886

426,506

-1,679

-139,398

-109,510

-81,161

-905,299

-610,929

-40,353

-41,468

105,571

-80,595

-242,914

-63,984

-20,981

-54,254

-808,138

-35,744

-2,811

-472,545

-31,785

-42,312

-70,133

-36,195

-23,110

-698,112

66,343

-33,852

-21,076

-23,263

-28,573

-98,031

-40,491

-13,942

-18,521

-88,974

-22,458

-128,443

-18,601

Financing Activities
Repayments of Long-term Debt and Finance Leases

2,019

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds of Long-term Debt and Finance Leases

-

-

-

-

38

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net Proceeds from Short-term Debt

-

-

-

-

-

-

-90,000

-70,000

255,000

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments on short-term debt

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

0

185,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from Long-term Debt

-

-

-

-

-

0

0

0

375,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal Payments on Long-term Debt

-

-

-

-

-

-39

-38

-37

274

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Dividends Paid on Common Stock

112,249

112,082

112,684

112,162

100,125

99,592

99,376

99,325

89,814

89,669

89,834

89,878

76,629

76,749

76,866

76,741

66,137

66,073

66,046

65,914

52,801

52,796

52,766

52,761

44,833

44,894

45,021

44,967

39,438

39,521

39,497

39,586

33,600

33,984

34,066

34,021

27,904

27,945

28,029

28,027

25,373

Share Repurchase

0

0

106,624

22,813

44,809

2,157

0

19,542

25,199

0

44,904

18,995

30,588

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

10,674

8,604

30,971

11,117

72,282

45,930

20,987

13,731

16,403

23,345

13,745

16,081

Proceeds from Exercise of Stock Options

36,400

11,800

3,800

28,300

16,000

31,100

10,700

6,545

23,455

7,363

5,458

1,481

7,398

2,842

863

4,856

3,514

2,631

1,838

3,942

2,057

2,027

2,950

2,109

3,437

944

653

5,393

23,222

790

3,882

6,143

3,885

3,240

6,776

19,749

24,015

6,104

2,579

7,792

6,409

Excess tax benefit from stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,734

16,307

20,149

8,811

3,379

7,797

2,963

6,886

7,776

5,927

4,111

4,476

792

4,877

13,261

2,020

2,193

2,705

1,929

1,615

3,335

5,860

4,395

3,055

913

2,819

3,511

Distribution to noncontrolling interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,000

0

0

3,000

-

-

-

-

Payments to noncontrolling interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

10,121

1,581

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1

1

-500

-648

-

-208

290

40

Net Cash (Used in) Provided by Financing Activities

-77,915

-100,294

-215,478

-481,573

-128,899

-165,639

-178,584

-182,307

538,168

-82,280

-129,280

-107,392

-99,819

-301,006

33,113

-61,936

-227,474

-244,559

289,171

-65,877

-49,362

-77,252

-54,982

-59,851

-37,285

-68,625

-81,316

-42,625

-2,955

-50,885

-41,252

-61,709

-38,903

-106,410

-419,977

217,758

-16,873

-35,311

-48,090

-30,871

-31,494

Effect of Exchange Rate Changes on Cash

1,519

-2,300

-1,083

3,537

-3,294

-3,333

-4,359

100

4,607

1,498

3,232

2,637

-6,323

-1,187

-3,034

142

-2,260

-4,864

-767

-316

-1,406

481

-917

906

-1,044

382

-117

63

88

180

-256

262

804

-847

622

488

1,030

-

-

-

-

Increase (Decrease) in Cash and Cash Equivalents

51,518

112,702

-79,128

126,638

53,553

190,154

7,411

-124,204

-58,347

-189,219

84,440

-60,920

194,678

35,546

-284

4,666

27,976

-1,930

-275,226

97,298

192,923

-196,803

31,647

-140,514

205,830

104,518

66,748

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205,289

149,171

8,438

-23,839

85,488

-34,234

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314,891

130,968

90,928

21,736

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63,840