Knoll, inc. (KNL)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11
CASH FLOWS FROM OPERATING ACTIVITIES
Net earnings

10,900

10,400

17,500

21,600

18,000

24,600

20,300

13,100

15,300

32,687

19,161

12,956

15,396

21,444

21,618

21,641

17,411

13,430

17,861

17,222

17,435

12,315

15,597

10,841

7,832

672

8,550

7,888

6,074

19,014

12,197

13,055

7,257

17,445

18,389

12,975

9,202

Adjustments to reconcile net earnings to cash provided by (used in) operating
Depreciation

8,400

8,200

7,700

7,400

6,300

6,500

6,300

6,400

6,300

6,563

5,469

5,579

5,089

5,094

4,729

4,688

4,560

4,584

4,004

4,473

4,303

4,587

3,890

3,986

3,864

3,551

3,605

3,840

3,731

3,800

3,525

3,714

3,593

3,662

3,543

4,110

4,058

Amortization expense (including debt issuance costs)

2,900

2,500

2,500

2,400

2,500

2,700

2,500

2,400

2,200

934

989

988

989

988

989

988

989

988

976

989

962

620

919

1,359

817

570

355

355

354

658

436

461

360

849

474

561

481

Deferred income tax benefit

-6,300

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on extinguishment of debt

-

-

-

-

-

0

0

0

-1,400

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Pension settlement charges

-700

-

-

-

-200

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Write-off of deferred financing fees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

477

-

-

-

-

Inventory obsolescence

-

-

-

-

-

0

900

300

500

464

233

459

744

190

763

776

647

1,146

646

467

397

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on disposal of property, plant and equipment

-

-

-

-

-

-

-

-

-

-

-54

-4

-25

-1

-3

6

-7

-837

-165

-216

-11

-

-

-

-

-2

22

-146

-2

-

491

-43

35

-

-41

-37

-6

Unrealized foreign currency losses

-

-

-

-

-

-100

-2,200

-200

2,000

70

-1,492

110

12

497

281

-343

-1,262

1,616

355

-453

7,271

2,960

3,228

-2,256

2,708

2,401

-1,641

2,695

1,123

659

-2,053

1,414

-1,358

-1,254

5,753

-533

-1,415

Stock-based compensation

1,600

3,100

3,100

2,400

2,200

2,500

2,200

2,100

2,400

2,386

2,271

1,699

3,344

3,223

2,654

2,454

2,138

2,516

2,076

2,189

1,385

2,193

2,211

1,984

1,674

2,462

2,365

2,823

2,823

2,515

2,483

2,726

2,632

2,539

2,260

2,711

2,161

Bad debt and customer claims

-

-

-

-

-

-

-1,300

300

400

-

247

-1,641

-9

1,449

3,572

1,191

91

722

371

-92

476

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other non-cash items

-1,400

-

-

-

-1,400

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-97

-72

42

-

-7

-8

-7

434

-7

-14

-1

282

-406

-8

-7

Changes in assets and liabilities:
Customer receivables

9,400

-4,900

-7,700

11,000

-11,400

10,300

3,200

5,200

6,300

-289

14,209

-7,044

-1,376

2,406

-12,781

-7,646

-8,570

23,416

-10,260

-17,894

9,030

23,638

-9,378

9,011

-9,457

13,638

-10,248

10,730

-15,741

17,113

-4,218

-9,954

-12,075

-3,924

7,077

-15,554

11,410

Inventories

10,200

3,300

5,800

4,700

7,100

0

2,600

4,000

9,600

-3,611

-1,200

4,046

4,765

-4,650

397

-938

7,348

-7,232

5,768

-159

6,104

4,690

8,048

3,938

6,387

4,963

-872

-1,783

-1,223

-12,394

4,664

-576

7,287

-4,355

3,186

-1,513

6,840

Prepaid expenses and other assets

800

-5,300

-1,700

2,600

-1,800

20,100

-15,800

2,200

-3,000

8,891

-7,298

3,263

-1,456

12,267

-1,127

10,424

-7,749

4,008

-348

536

1,229

-393

-48

5,124

-1,082

118

-1,437

-194

1,099

226

1,516

2,867

-689

839

-2,237

2,203

-1,686

Accounts payable

-6,800

3,600

-9,300

11,800

-7,500

6,300

-1,600

8,000

-200

2,598

3,487

11,120

-5,105

12,777

1,923

-11,408

1,299

18,228

-8,082

-7,081

-29,318

17,956

1,872

3,538

-364

15,850

-10,040

16,440

-16,046

8,676

7,153

-9,802

-7,668

5,541

-6,865

-10,379

-5,992

Other liabilities

-8,800

-

11,400

14,500

-10,100

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Current and deferred income taxes

-

-

-

-

-

-

-

-

-1,900

-

3,955

-120

-2,447

-

-248

-132

-578

-

-5,496

14,774

-3,337

15,921

-4,102

-6,283

-8

-17,904

-2,184

-551

4,976

1,455

1,130

-732

11,929

8,152

-7,989

-2,686

-552

Other current liabilities

-

-

-

-

-

-

-

-

-4,200

-8,650

6,479

166

-13,895

-4,188

10,545

6,606

-16,393

15,363

4,382

8,526

-5,334

3,184

3,509

3,507

-17,169

8,472

-2,072

-4,145

-10,353

12,403

-607

3,521

-14,529

4,888

11,830

343

-15,323

Other noncurrent assets and liabilities

-

-

-

-

-

-5,400

12,100

-4,300

5,500

-8,967

3,050

2,662

3,255

40,012

10,951

482

304

2,715

1,683

-3,392

-3,925

-24,706

-3,092

-2,653

-14,807

20,382

3,792

-3,686

491

2,936

1,091

-72

1,297

-3,582

5,938

-1,173

-3,149

Cash provided by (used in) operating activities

-16,400

40,100

42,200

36,800

19,100

44,400

30,100

28,100

5,600

44,296

27,166

28,413

3,825

8,633

49,323

25,083

21,256

50,715

30,697

33,497

-26,055

23,511

33,439

18,406

12,871

23,265

15,338

20,144

-4,133

41,513

22,573

20,785

-14,303

35,797

18,350

29,622

-16,848

CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures

10,700

17,500

10,500

12,700

9,200

19,000

5,300

7,500

8,500

11,167

8,677

10,106

10,650

14,663

10,385

8,040

7,017

9,773

7,167

7,806

4,864

9,909

14,251

9,927

7,814

8,893

3,347

10,513

6,626

6,457

3,615

3,449

3,024

5,592

2,463

5,150

1,970

Other

400

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of businesses, net of cash acquired

-

-

-

-

-

0

3,900

400

303,700

0

0

0

0

-

-

-

-

-

-

-

-

0

0

0

93,349

0

0

0

0

0

0

0

5,968

-

-

-

-

Purchase of licenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

315

-

0

0

275

0

313

0

175

-

-

-

-

Cash used in investing activities

-10,300

-17,400

-41,400

-12,700

-9,200

-19,000

-9,200

-7,900

-312,200

-11,167

-8,677

-10,106

-10,650

-24,730

-18,774

-8,040

-7,017

-9,773

-7,167

-7,806

-4,864

-9,594

-14,251

-9,927

-101,478

-8,618

-3,347

-10,513

-6,901

-6,457

-3,928

-3,449

-9,167

-6,599

-2,613

-5,150

-1,970

CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from revolving credit facility

219,500

67,000

152,000

87,500

111,000

81,500

70,000

57,000

282,000

6,000

90,000

84,000

130,000

124,000

80,000

74,000

99,500

79,000

60,000

69,000

101,000

97,000

84,000

423,000

185,000

75,000

73,000

70,000

63,000

71,000

71,000

78,000

342,000

76,000

85,000

90,000

83,000

Repayment of revolving credit facility

53,500

77,000

133,000

98,500

105,000

95,500

76,500

79,000

132,000

41,500

102,500

90,500

103,500

99,000

95,000

86,000

99,500

114,500

76,500

95,000

59,000

100,500

88,500

425,000

90,000

85,000

78,000

75,000

63,000

81,000

86,000

88,000

326,000

81,000

98,000

102,000

86,000

Proceeds from term loans

-

-

-

-

-

-44,900

42,600

2,000

350,500

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of term loans

4,200

4,300

4,200

4,300

4,300

-46,200

52,300

6,800

165,000

-7,500

2,500

2,500

2,500

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Capitalized debt issuance costs

-

-

-

-

-

0

100

0

4,500

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

0

0

4

9

2

19

21

2,806

-

-

-

-

Payment of fees related to debt extinguishment

-

-

-

-

-

0

0

0

1,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of dividends

8,900

8,300

8,400

8,300

7,800

7,300

7,300

7,700

7,700

7,200

7,271

7,302

8,427

7,271

7,219

7,531

7,196

7,170

5,692

5,773

5,729

5,727

5,652

5,684

5,679

5,641

5,631

5,628

5,629

5,612

5,602

4,662

4,661

4,636

4,625

4,625

2,772

Payments of withholding taxes related to net share settlements of equity awards

3,800

-

-

-

3,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from the issuance of common stock

-

-

-

-

-

-

-

-

-

24

25

25

526

0

727

1,721

399

509

826

595

3,826

2,126

198

2,554

36

1,795

87

13

2,134

205

473

13

400

232

139

1,164

11,703

Purchase of common stock for treasury

-

-

-

-

-

0

0

2,500

1,900

330

0

222

10,348

961

600

2,001

1,902

1,247

1,411

0

6,067

2,562

185

2,536

3,691

2,909

216

182

2,331

1,211

843

132

2,490

1,145

212

1,263

12,406

Contingent purchase price payment

-

-

-

-

-

-

-

-

-

-

0

0

6,000

0

0

0

5,000

0

0

0

5,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Tax benefit from the exercise of stock options and vesting of equity awards

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-114

-39

321

658

795

0

210

0

397

38

16

192

53

831

-783

78

332

-102

164

1,274

Cash provided by (used in) financing activities

149,100

-22,700

4,700

-23,600

-9,100

-20,000

-23,600

-37,000

320,400

-35,506

-22,246

-16,499

-249

16,768

-22,092

-19,811

-13,699

-43,532

-22,816

-30,857

29,688

-8,876

-10,155

-9,370

85,666

-16,358

-10,722

-10,785

-5,643

-16,567

-20,160

-15,585

6,521

-10,217

-17,935

-16,560

-5,201

Effect of exchange rate changes on cash and cash equivalents

-300

200

-100

0

0

-11,100

8,600

2,000

200

-1,302

3,666

1,081

255

-2,004

-818

968

616

-2,975

-1,299

833

-3,115

-1,720

-1,806

230

49

224

1,181

-484

-578

777

732

-2,026

434

-1,456

-545

979

1,674

Net increase in cash and cash equivalents

122,100

200

5,400

500

800

-5,700

5,900

-14,800

14,000

-3,679

-91

2,889

-6,819

-1,333

7,639

-1,800

1,156

-5,565

-585

-4,333

-4,346

3,321

7,227

-661

-2,892

-1,487

2,450

-1,638

-17,255

19,266

-783

-275

-16,515

17,525

-2,743

8,891

-22,345