KORN FERRY KFY Cash Flow

Korn ferry (KFY)

CashFlow / TTM

Jan'20	Oct'19	Jul'19	Apr'19	Jan'19	Oct'18	Jul'18	Apr'18	Jan'18	Oct'17	Jul'17	Apr'17	Jan'17	Oct'16	Jul'16	Apr'16	Jan'16	Oct'15	Jul'15	Apr'15	Jan'15	Oct'14	Jul'14	Apr'14	Jan'14	Oct'13	Jul'13	Apr'13	Jan'13	Oct'12	Jul'12	Apr'12	Jan'12	Oct'11	Jul'11	Apr'11	Jan'11	Oct'10	Jul'10	Apr'10	Jan'10	Oct'09	Jul'09
Cash flows from operating activities:
Net income
158,265	182,753	187,038	104,796	96,478	78,461	67,876	135,897	121,324	118,275	112,599	87,238	65,877	25,504	12,419	31,433	50,540	89,474	96,906	88,357	84,086	82,451	75,807	72,691	63,677	51,855	34,292	33,293	33,124	35,359	49,310	54,303	62,614	64,872	63,381	58,874	47,451	41,386	30,475	5,298	0	0	0
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
52,354	49,232	47,535	46,489	46,197	46,681	48,110	48,588	49,171	48,720	48,025	47,260	46,257	44,813	40,241	36,220	32,167	28,651	28,250	27,597	27,678	27,197	26,998	26,172	24,734	23,489	21,206	19,004	16,777	15,212	14,390	14,017	13,687	13,403	13,072	12,671	12,400	11,916	11,632	11,493	0	0	0
Stock-based compensation expense
22,345	22,536	23,133	23,385	23,697	23,555	22,487	21,469	20,657	19,721	18,739	18,958	19,457	19,402	20,119	18,895	17,060	15,953	14,271	13,899	13,665	13,273	12,465	12,106	11,905	11,429	11,670	11,906	12,306	13,071	13,425	13,399	13,685	14,338	14,902	15,547	16,232	16,287	17,048	17,729	0	0	0
Tradename write-offs
-	-	-	106,555	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
(Gain) loss on disposition of property and equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-198	32	132	-323	0	0	0
Provision for doubtful accounts
14,206	13,939	14,102	14,260	14,754	14,186	14,312	13,675	14,547	14,796	13,480	12,987	10,287	9,332	9,079	8,570	8,753	8,360	7,898	7,741	7,740	8,523	8,309	7,840	7,674	6,690	6,803	6,748	5,009	4,908	5,162	5,732	7,208	7,345	7,781	7,650	5,813	6,170	4,510	3,340	0	0	0
Gain on cash surrender value of life insurance policies
7,407	7,366	7,151	6,160	6,303	6,552	6,638	7,776	7,622	5,973	4,905	4,918	5,499	3,861	3,988	3,984	3,812	8,310	9,740	10,509	10,308	9,149	10,214	8,242	8,698	8,911	7,122	6,502	7,248	7,399	6,034	6,268	6,079	5,283	7,916	7,218	7,144	7,210	6,252	9,424	0	0	0
Gain on marketable securities
15,134	12,034	6,034	8,134	-2,444	2,681	10,849	10,278	17,774	14,413	10,356	10,842	12,661	1,711	-83	-3,333	-4,403	2,484	7,476	8,829	6,248	7,656	9,575	9,498	10,207	12,796	10,328	7,556	7,894	6,258	1,807	1,013	1,458	5,315	7,394	7,599	7,798	3,190	5,617	11,137	0	0	0
Deferred income taxes
-6,578	-1,556	-3,258	-27,796	-35,129	-34,204	-37,690	-6,564	4,150	8,558	9,741	6,589	-9,039	-14,775	-13,506	-13,792	2,905	5,067	1,160	895	3,728	6,293	9,101	7,598	-4,157	-1,401	-3,672	-176	1,875	10,155	11,990	6,512	17,541	1,800	389	5,954	-8,032	-8,065	-10,883	-20,862	0	0	0
Change in other assets and liabilities:
Deferred compensation
39,638	34,941	27,109	18,478	7,559	13,454	22,393	27,660	32,477	26,232	21,022	6,868	-913	-10,085	-8,651	-4,605	3,570	3,236	6,595	10,130	6,517	10,384	12,465	12,186	15,750	18,961	16,051	8,477	8,764	6,420	1,851	6,320	5,628	1,161	5,943	11,588	12,586	6,448	5,954	15,828	0	0	0
Receivables due from clients
23,551	38,645	45,805	30,625	35,225	46,873	46,214	53,357	69,287	51,382	37,153	42,326	19,834	20,298	32,150	16,622	18,360	23,999	1,959	17,213	18,244	20,994	28,519	22,318	33,786	33,833	25,956	16,011	8,123	7,619	-8,955	4,227	1,098	4,620	29,351	29,294	40,655	49,204	46,074	33,516	0	0	0
Income taxes and other receivables
3,873	12,404	-6,044	-1,409	3,494	-9,645	-5,212	-2,093	2,483	14,508	13,014	10,177	-7,598	-6,425	9,429	191	11,989	3,439	-1,108	-115	-1,880	7,367	1,433	-896	-11,504	-8,715	-6,862	-4,616	1,139	7,676	6,820	6,664	0	0	0	-	-	-	-	-	-	-	-
Prepaid expenses and other assets
8,860	2,962	5,637	148	1,396	5,315	1,694	2,118	-5,885	-4,259	-3,490	1,796	8,632	7,044	11,507	6,310	6,365	6,057	3,105	1,145	1,485	1,420	187	1,255	-675	-74	1,313	-750	1,187	-2,542	-3,105	-2,194	-906	3,443	4,580	6,172	6,943	4,530	5,449	4,520	0	0	0
Unearned compensation
9,595	12,772	4,654	7,299	14,935	18,256	31,090	42,742	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Investment in unconsolidated subsidiaries
-	-	-	-	-	-	-	297	299	315	284	333	406	474	985	1,631	1,931	2,528	2,440	2,181	2,373	2,065	2,170	2,169	2,035	2,158	1,945	2,110	2,145	1,845	1,973	1,850	1,626	1,867	1,907	1,862	960	816	530	91	0	0	0
Income taxes payable
-699	-28	-3,132	213	13,690	17,082	27,410	32,439	21,872	15,611	10,682	205	1,479	-6,534	-1,338	686	-9,649	-4,359	-7,428	-10,405	-4,860	-1,011	552	7,533	7,304	4,006	2,723	-3,399	-1,922	-1,721	220	4,058	-4,481	-1,706	-932	-1,686	7,759	-1,521	195	2,844	0	0	0
Accounts payable and accrued liabilities
1,563	-28,502	-11,906	28,398	48,574	55,626	39,710	66,081	35,742	24,464	-9,748	5,420	2,155	2,816	21,733	18,862	15,505	4,962	-1,311	17,790	18,921	17,773	14,268	29,104	14,239	4,562	20,188	8,494	12,946	436	-19,112	-20,519	-23,563	-13,343	6,148	40,885	40,618	32,464	6,484	-595	0	0	0
Other
21	-132	2,651	4,705	2,836	8,097	8,416	5,645	-4,001	-7,589	-16,536	-8,473	-3,975	-10,321	-1,356	1,875	10,977	18,677	15,599	8,966	6,206	3,158	1,103	3,162	1,591	1,249	551	-4,173	-3,704	-7,277	-8,962	-7,177	-5,562	-1,146	3,535	819	3,089	4,308	6,629	7,556	0	0	0
Net cash provided by operating activities
214,985	186,896	214,378	258,805	260,490	243,096	211,206	219,125	151,992	138,580	132,274	106,141	100,101	53,831	23,476	68,989	71,820	85,850	107,130	107,276	114,491	113,074	106,764	129,482	96,988	69,433	68,908	61,707	64,847	62,862	79,428	70,975	72,915	68,105	53,447	95,634	66,558	30,253	-5,268	-30,846	0	0	0
Cash flows from investing activities:
Purchase of property and equipment
43,549	45,934	44,225	46,682	47,753	45,752	45,634	42,000	39,605	38,579	44,538	50,088	50,087	47,821	35,738	26,144	23,928	21,200	20,755	21,860	26,857	28,393	29,966	28,559	21,026	17,966	15,273	13,101	14,530	16,600	16,436	18,632	18,989	19,264	21,412	27,889	25,289	21,822	17,781	7,282	0	0	0
Purchase of marketable securities
39,885	4,763	9,680	9,476	10,672	11,263	6,258	9,462	8,472	7,748	9,706	10,536	9,647	10,913	26,711	30,397	30,367	29,712	27,640	22,843	27,107	26,992	11,807	28,150	29,973	40,920	50,044	50,437	50,483	57,688	54,245	55,718	51,112	44,920	63,999	65,964	0	0	0	-	-	-	-
Proceeds from sales/maturities of marketable securities
3,469	7,874	7,140	13,781	13,684	9,292	9,148	2,642	2,797	30,949	30,785	42,815	42,762	19,445	27,466	30,066	38,666	36,890	29,914	21,362	13,585	14,796	18,108	44,475	47,156	59,659	66,249	51,511	55,493	51,094	43,743	43,181	40,631	34,085	33,405	28,618	44,234	33,847	28,549	13,374	0	0	0
Cash paid for acquisitions, net of cash acquired
-	-	-	-	-	-	-	-	-	-	-	2,880	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	18,734	0	0	0
Payment of contingent consideration from acquisition
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,795	0	0	0	-	-	-	-
Premium on company-owned life insurance policies
15,698	1,465	34,805	34,862	34,887	34,944	1,609	1,614	1,599	1,599	1,599	1,597	1,608	1,624	1,620	1,623	1,643	1,648	1,661	1,676	1,669	1,736	1,727	1,727	1,732	1,739	1,735	1,739	1,743	1,742	1,745	1,739	1,738	1,774	1,769	1,702	1,671	1,635	1,636	1,711	0	0	0
Proceeds from life insurance policies
2,940	5,114	9,220	7,632	7,152	8,901	4,469	5,355	0	0	0	-	-	-	-	3,256	2,553	7,770	7,945	8,087	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends received from unconsolidated subsidiaries
0	0	0	-	-	-	-	240	169	394	394	564	698	1,797	1,797	2,373	2,130	2,144	2,144	1,656	1,826	1,928	1,928	2,120	1,950	1,989	1,989	1,897	1,897	1,947	1,947	1,669	1,669	1,157	1,496	1,608	2,409	1,392	1,053	958	0	0	0
Net cash used in investing activities
-201,039	-38,868	-72,044	-69,467	-72,156	-73,586	-39,704	-44,839	-40,418	-14,495	-22,576	-20,605	-19,600	-292,508	-288,198	-274,578	-280,453	-21,052	-25,349	-30,570	-31,747	-38,033	-21,275	-23,592	-15,764	-81,521	-115,795	-116,711	-114,871	-58,414	-28,524	-33,027	-43,671	-45,323	-67,406	-81,131	-69,338	-63,601	-35,681	-23,444	0	0	0
Proceeds from long term debt
-	-	-	-	-	-	-	-	-	-	-	275,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Principal payments on long term debt
-	-	-	238,906	244,062	22,343	20,625	20,625	20,625	20,626	20,625	155,469	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2,861	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repurchases of common stock
0	0	0	-	-	-	-	33,071	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,771	2,760	2,700	4,215	4,544	4,552	6,734	13,844	14,900	15,164	13,030	3,136	0	0	0
Payments of tax withholdings on restricted stock
9,063	16,239	16,235	20,698	20,634	13,517	13,502	3,794	4,038	4,042	3,943	4,758	5,078	4,991	4,998	7,410	6,905	6,886	6,880	4,038	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from exercise of warrants
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,983	0	0	0	-	-	-	-
Proceeds from issuance of common stock upon exercise of employee stock options and in connection with an employee stock purchase plan
7,685	7,480	7,480	7,272	7,271	7,006	7,006	6,885	7,025	6,491	6,675	5,121	5,047	4,161	4,089	4,038	4,788	3,600	3,893	2,993	3,609	6,835	8,462	8,805	8,164	4,969	3,783	2,134	2,315	2,259	1,435	4,371	5,468	11,210	11,700	10,084	8,581	4,540	4,400	6,526	0	0	0
Borrowings under life insurance policies
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	366	4,779	5,912	6,051	6,039	1,872	2,770	2,749	5,500	0	0	0
Payments on life insurance policy loans
0	0	0	-	-	-	-	554	0	0	0	-	-	-	-	1,251	1,251	3,747	3,747	3,301	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Principal payments on finance leases
0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends paid to shareholders
22,993	23,425	23,513	23,459	23,471	23,161	23,159	22,955	23,014	23,105	23,232	23,318	23,320	23,294	22,627	21,833	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Tax benefit related to stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,860	4,822	4,415	1,516	-22	620	475	-593	906	270	392	294	191	208	13	1,664	2,293	3,130	3,752	1,287	4,673	2,288	24	-611	0	0	0
Payment of contingent consideration from acquisitions
455	455	455	455	455	455	455	485	485	485	485	1,070	0	0	0	-	-	-	-	-	-	-	-	15,000	0	0	0	-	-	-	-	-	-	-	-	5,795	0	0	0	-	-	-	-
Net cash provided by (used in) financing activities
67,250	-68,606	-68,965	-64,625	-70,459	-51,653	-82,579	-77,258	-89,321	-97,201	-77,191	64,365	70,489	232,954	246,230	113,544	127,828	-17,605	-12,539	-7,935	-4,167	2,332	3,809	5,575	6,879	3,077	1,891	-410	-263	-289	-1,245	2,186	7,696	15,100	14,169	5,949	2,726	-2,766	-3,057	8,096	0	0	0
Effect of exchange rate changes on cash and cash equivalents
-6,997	-2,678	-14,461	-19,201	-18,356	-12,803	-5,213	12,938	16,432	5,708	5,439	-12,271	-7,027	-14,987	-13,949	-15,541	-16,304	-24,640	-31,301	-21,650	-21,910	-11,811	-1,151	-1,814	-8,554	-1,277	-950	-2,525	326	-3,412	-10,224	-4,985	-53	3,169	10,711	7,171	5,552	4,294	2,453	10,427	0	0	0
Net decrease in cash and cash equivalents
74,199	76,744	58,908	105,512	99,519	105,054	83,710	109,966	38,685	32,592	37,946	137,630	143,963	-20,710	-32,441	-107,586	-97,109	22,553	37,941	47,121	56,667	65,562	88,147	109,651	79,549	-10,288	-45,946	-57,939	-49,961	747	39,435	35,149	36,887	41,051	10,921	27,623	5,498	-31,820	-41,553	-35,767	0	0	0