Knoll, inc. (KNL)
CashFlow / TTM
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

60,400

67,500

81,700

84,500

76,000

73,300

81,387

80,248

80,104

80,200

68,957

71,414

80,099

82,114

74,100

70,343

65,924

65,948

64,833

62,569

56,188

46,585

34,942

27,895

24,942

23,184

41,526

45,173

50,340

51,523

49,954

56,146

56,066

58,011

0

0

0

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

31,700

29,600

27,900

26,500

25,500

25,500

25,563

24,732

23,911

22,700

21,231

20,491

19,600

19,071

18,561

17,836

17,621

17,364

17,367

17,253

16,766

16,327

15,291

15,006

14,860

14,727

14,976

14,896

14,770

14,632

14,494

14,512

14,908

15,373

0

0

0

Amortization expense (including debt issuance costs)

10,300

9,900

10,100

10,100

10,100

9,800

8,034

6,523

5,111

3,900

3,954

3,954

3,954

3,954

3,954

3,941

3,942

3,915

3,547

3,490

3,860

3,715

3,665

3,101

2,097

1,634

1,722

1,803

1,909

1,915

2,106

2,144

2,244

2,365

0

0

0

Deferred income tax benefit

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on extinguishment of debt

-

-

-

-

-

-1,400

-1,400

-1,400

-1,400

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Pension settlement charges

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Write-off of deferred financing fees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

477

0

0

0

-

-

-

-

Inventory obsolescence

-

-

-

-

-

1,700

2,164

1,497

1,656

1,900

1,626

2,156

2,473

2,376

3,332

3,215

2,906

2,656

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on disposal of property, plant and equipment

-

-

-

-

-

-

-

-

-

-

-84

-33

-23

-5

-841

-1,003

-1,225

-1,229

0

0

0

-

-

-

-

-128

0

0

0

-

0

0

0

-

0

0

0

Unrealized foreign currency losses

-

-

-

-

-

-500

-330

378

688

-1,300

-873

900

447

-827

292

366

256

8,789

10,133

13,006

11,203

6,640

6,081

1,212

6,163

4,578

2,836

2,424

1,143

-1,338

-3,251

4,555

2,608

2,551

0

0

0

Stock-based compensation

10,200

10,800

10,200

9,300

9,000

9,200

9,086

9,157

8,756

9,700

10,537

10,920

11,675

10,469

9,762

9,184

8,919

8,166

7,843

7,978

7,773

8,062

8,331

8,485

9,324

10,473

10,526

10,644

10,547

10,356

10,380

10,157

10,142

9,671

0

0

0

Bad debt and customer claims

-

-

-

-

-

-

0

0

2,025

-

46

3,371

6,203

6,303

5,576

2,375

1,092

1,477

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other non-cash items

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

412

412

406

412

260

-139

-133

-139

0

0

0

Changes in assets and liabilities:
Customer receivables

7,800

-13,000

2,200

13,100

7,300

25,000

14,411

25,420

13,176

5,500

8,195

-18,795

-19,397

-26,591

-5,581

-3,060

-13,308

4,292

4,514

5,396

32,301

13,814

3,814

2,944

4,663

-1,621

1,854

7,884

-12,800

-9,134

-30,171

-18,876

-24,476

-991

0

0

0

Inventories

24,000

20,900

17,600

14,400

13,700

16,200

12,589

8,789

8,835

4,000

2,961

4,558

-426

2,157

-425

4,946

5,725

4,481

16,403

18,683

22,780

23,063

23,336

14,416

8,695

1,085

-16,272

-10,736

-9,529

-1,019

7,020

5,542

4,605

4,158

0

0

0

Prepaid expenses and other assets

-3,600

-6,200

19,200

5,100

4,700

3,500

-7,709

793

1,856

3,400

6,776

12,947

20,108

13,815

5,556

6,335

-3,553

5,425

1,024

1,324

5,912

3,601

4,112

2,723

-2,595

-414

-306

2,647

5,708

3,920

4,533

780

116

-881

0

0

0

Accounts payable

-700

-1,400

1,300

9,000

5,200

12,500

8,798

13,885

17,005

12,100

22,279

20,715

-1,813

4,591

10,042

37

4,364

-26,253

-26,525

-16,571

-5,952

23,002

20,896

8,984

21,886

6,204

-970

16,223

-10,019

-1,641

-4,776

-18,794

-19,371

-17,695

0

0

0

Other liabilities

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Current and deferred income taxes

-

-

-

-

-

-

-

-

0

-

0

0

0

-

0

0

2,084

-

21,862

23,256

2,199

5,528

-28,297

-26,379

-20,647

-15,663

3,696

7,010

6,829

13,782

20,479

11,360

9,406

-3,075

0

0

0

Other current liabilities

-

-

-

-

-

-

-

-

-6,205

-15,900

-11,438

-7,372

-932

-3,430

16,121

9,958

11,878

22,937

10,758

9,885

4,866

-6,969

-1,681

-7,262

-14,914

-8,098

-4,167

-2,702

4,964

788

-6,727

5,710

2,532

1,738

0

0

0

Other noncurrent assets and liabilities

-

-

-

-

-

7,900

4,333

-4,717

2,245

0

48,979

56,880

54,700

51,749

14,452

5,184

1,310

-2,919

-30,340

-35,115

-34,376

-45,258

-170

6,714

5,681

20,979

3,533

832

4,446

5,252

-1,266

3,581

2,480

-1,966

0

0

0

Cash provided by (used in) operating activities

102,700

138,200

142,500

130,400

121,700

108,200

108,096

105,162

105,475

103,700

68,037

90,194

86,864

104,295

146,377

127,751

136,165

88,854

61,650

64,392

49,301

88,227

87,981

69,880

71,618

54,614

72,862

80,097

80,738

70,568

64,852

60,629

69,466

66,921

0

0

0

CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures

51,400

49,900

51,400

46,200

41,000

40,300

32,467

35,844

38,450

40,600

44,096

45,804

43,738

40,105

35,215

31,997

31,763

29,610

29,746

36,830

38,951

41,901

40,885

29,981

30,567

29,379

26,943

27,211

20,147

16,545

15,680

14,528

16,229

15,175

0

0

0

Other

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of businesses, net of cash acquired

-

-

-

-

-

308,000

308,000

304,100

303,700

0

0

0

0

-

-

-

-

-

-

-

-

93,349

93,349

93,349

93,349

0

0

0

0

5,968

0

0

0

-

-

-

-

Purchase of licenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

275

588

588

488

0

0

0

-

-

-

-

Cash used in investing activities

-81,800

-80,700

-82,300

-50,100

-45,300

-348,300

-340,467

-339,944

-342,150

-40,600

-54,163

-64,260

-62,194

-58,561

-43,604

-31,997

-31,763

-29,610

-29,431

-36,515

-38,636

-135,250

-134,274

-123,370

-123,956

-29,379

-27,218

-27,799

-20,735

-23,001

-23,143

-21,828

-23,529

-16,332

0

0

0

CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from revolving credit facility

526,000

417,500

432,000

350,000

319,500

490,500

415,000

435,000

462,000

310,000

428,000

418,000

408,000

377,500

332,500

312,500

307,500

309,000

327,000

351,000

705,000

789,000

767,000

756,000

403,000

281,000

277,000

275,000

283,000

562,000

567,000

581,000

593,000

334,000

0

0

0

Repayment of revolving credit facility

362,000

413,500

432,000

375,500

356,000

383,000

329,000

355,000

366,500

338,000

395,500

388,000

383,500

379,500

395,000

376,500

385,500

345,000

331,000

343,000

673,000

704,000

688,500

678,000

328,000

301,000

297,000

305,000

318,000

581,000

581,000

593,000

607,000

367,000

0

0

0

Proceeds from term loans

-

-

-

-

-

350,200

395,100

352,500

350,500

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of term loans

17,000

17,100

-33,400

14,700

17,200

177,900

216,600

166,800

162,500

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Capitalized debt issuance costs

-

-

-

-

-

4,600

4,600

4,500

4,500

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

13

15

34

51

2,848

0

0

0

-

-

-

-

Payment of fees related to debt extinguishment

-

-

-

-

-

1,000

1,000

1,000

1,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of dividends

33,900

32,800

31,800

30,700

30,100

30,000

29,900

29,871

29,473

30,200

30,271

30,219

30,448

29,217

29,116

27,589

25,831

24,364

22,921

22,881

22,792

22,742

22,656

22,635

22,579

22,529

22,500

22,471

21,505

20,537

19,561

18,584

18,547

16,658

0

0

0

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

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from the issuance of common stock

-

-

-

-

-

-

-

-

-

600

576

1,278

2,974

2,847

3,356

3,455

2,329

5,756

7,373

6,745

8,704

4,914

4,583

4,472

1,931

4,029

2,439

2,825

2,825

1,091

1,118

784

1,935

13,238

0

0

0

Purchase of common stock for treasury

-

-

-

-

-

4,400

4,730

4,730

2,452

10,900

11,531

12,131

13,910

5,464

5,750

6,561

4,560

8,725

10,040

8,814

11,350

8,974

9,321

9,352

6,998

5,638

3,940

4,567

4,517

4,676

4,610

3,979

5,110

15,026

0

0

0

Contingent purchase price payment

-

-

-

-

-

-

-

-

-

-

6,000

6,000

6,000

5,000

5,000

5,000

5,000

5,000

5,000

5,000

5,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

826

1,735

1,774

1,663

1,005

607

645

451

643

299

1,092

293

179

458

-475

472

1,668

0

0

0

Cash provided by (used in) financing activities

107,500

-50,700

-48,000

-76,300

-89,700

239,800

224,294

225,648

246,149

-74,500

-22,226

-22,072

-25,384

-38,834

-99,134

-99,858

-110,904

-67,517

-32,861

-20,200

1,287

57,265

49,783

49,216

47,801

-43,508

-43,717

-53,155

-57,955

-45,791

-39,441

-37,216

-38,191

-49,913

0

0

0

Effect of exchange rate changes on cash and cash equivalents

-200

100

-11,200

-2,500

-500

-300

9,498

4,564

3,645

3,700

2,998

-1,486

-1,599

-1,238

-2,209

-2,690

-2,825

-6,556

-5,301

-5,808

-6,411

-3,247

-1,303

1,684

970

343

896

447

-1,095

-83

-2,316

-3,593

-588

652

0

0

0

Net increase in cash and cash equivalents

128,200

6,900

1,000

1,500

-13,800

-600

1,421

-4,570

13,119

-7,700

-5,354

2,376

-2,313

5,662

1,430

-6,794

-9,327

-14,829

-5,943

1,869

5,541

6,995

2,187

-2,590

-3,567

-17,930

2,823

-410

953

1,693

-48

-2,008

7,158

1,328

0

0

0