CAPRI HOLDINGS LTD KORS Cash Flow

Capri holdings ltd (KORS)

CashFlow / Quarterly

Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Apr'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12
Net income
209,000	73,000	45,000	19,000	200,000	137,000	186,000	44,400	219,400	202,700	125,500	-26,300	271,300	160,700	146,300	176,300	294,200	192,800	174,400	182,619	303,675	206,990	187,716	161,053	229,643	145,808	124,996	101,101	130,028	97,828	68,645
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
63,000	65,000	60,000	65,000	51,000	53,000	56,000	58,100	54,000	48,300	47,600	57,500	55,700	56,400	50,400	50,500	45,000	46,100	41,600	37,846	37,492	34,064	28,998	24,013	21,655	18,057	15,975	15,210	13,768	12,258	13,055
Equity compensation expense
16,000	21,000	28,000	22,000	12,000	13,000	13,000	20,400	8,500	10,300	10,800	7,300	5,300	11,600	9,800	9,700	12,800	13,400	12,500	15,455	11,866	13,425	8,154	8,181	7,782	7,560	5,577	5,727	5,401	4,822	4,982
Losses on store lease exits
-	-	0	-	-	-	-2,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income taxes
8,000	-10,000	2,000	-83,000	-1,000	0	13,000	-24,100	27,500	-1,500	7,100	-63,600	-1,900	-3,000	8,500	-900	-100	-2,500	1,600	14,836	-3,234	-4,497	-905	-32,407	2,034	601	-128	2,665	1,517	2,931	-3,891
Impairment of long-lived assets
19,000	104,000	97,000	4,000	6,000	7,000	4,000	14,100	2,600	16,300	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Charges to lease related balances, net
21,000	10,000	16,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Tax deficit (benefit) on exercise of share options
0	0	-2,000	0	1,000	12,000	11,000	6,800	300	4,800	-4,900	600	3,600	2,000	800	10,300	1,700	800	8,300	5,080	10,567	10,967	18,686	9,969	4,424	22,042	18,265	15,742	8,690	113,650	6,426
Loss on disposal of fixed assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-600	-200	-500	-800	-900	-600	-98	-40	-1,024	-738	-1,665	-143	-1,871	-121	-53	-28	0	-148
Amortization of deferred financing costs
3,000	2,000	1,000	1,000	1,000	1,000	1,000	1,500	2,000	300	200	-	-	200	200	300	200	200	200	140	186	187	187	140	187	186	187	172	178	177	176
Amortization of deferred rent
-	-	-	-	-	-	-	-	-	-	-	-	-	1,000	1,100	600	300	1,200	500	1,167	787	1,609	1,537	1,184	1,555	2,266	1,295	1,136	155	747	1,207
Foreign currency losses
2,000	-4,000	-2,000	-1,000	-74,000	-2,000	-3,000	-1,700	9,700	3,800	1,200	-800	-800	-100	-1,300	-1,100	-4,400	1,300	-600	1,665	3,580	-3,440	-305	-	-	-	-	-526	-1,112	-100	375
Other non-cash charges
-	-	-	-	-	-	-	2,600	-400	-1,800	-400	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-190	193	178	77
Unrealized foreign exchange loss
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-18	-258	-	-	-	-
Loss (income) earned on joint venture
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-100	0	-900	342	-553	108	203	-	-	-	-	-	-	-	-
Change in assets and liabilities:
Receivables, net
-3,000	65,000	-73,000	14,000	-46,000	79,000	-24,000	-1,900	-19,500	100,600	-98,200	13,600	-28,400	82,300	-127,500	2,600	-40,600	98,000	-112,500	60,752	-16,003	124,521	-85,970	20,406	63,518	56,656	-36,180	27,699	-13,635	80,741	-21,725
Inventories, net
-133,000	78,000	63,000	-2,000	1,000	74,000	52,000	-25,200	-149,200	72,800	55,600	-41,200	-100,000	87,800	32,400	-49,300	-114,400	99,400	80,600	-12,851	-75,794	101,087	99,958	-4,030	26,805	82,780	52,645	-21,527	11,599	29,817	61,219
Prepaid expenses and other current assets
-14,000	54,000	32,000	-20,000	-17,000	47,000	21,000	-17,100	-54,600	18,000	4,700	-38,200	9,800	37,400	-8,000	39,500	-31,700	-7,900	5,400	-22,240	-23,029	61,349	4,020	-50	-8,354	11,991	1,613	53,224	-55,186	-3,083	8,911
Other assets
-	-	-	-	-	-	-	-	-	-	-	-	-	3,600	400	-	-	0	-2,000	-2,693	6,329	2,474	190	-1,763	2,171	3,074	818	-1,131	987	304	-166
Accounts payable
-26,000	40,000	-8,000	-100,000	42,000	14,000	-4,000	400	-16,800	19,100	-23,700	-37,400	36,100	12,700	25,600	-33,000	-11,500	29,500	29,200	-43,481	-7,226	31,921	10,186	-8,328	25,938	14,295	21,795	-20,391	17,839	4,476	15,774
Accrued expenses and other current liabilities
76,000	-1,000	-51,000	-55,000	63,000	44,000	-32,000	1,400	33,400	39,300	-18,100	-65,800	56,400	-15,500	-29,100	75,600	39,500	16,600	-6,100	-27,428	67,008	-17,230	13,950	41,676	66,155	-25,714	44,383	76,823	-85,712	147,864	12,256
Other long-term assets and liabilities
-13,000	6,000	-18,000	68,000	-4,000	2,000	-24,000	9,000	100	1,800	-2,900	35,700	-32,700	7,900	7,100	-	-	6,600	3,500	-8,797	4,650	6,041	8,606	7,666	1,951	10,431	5,352	5,120	3,435	5,146	1,193
Net cash provided by operating activities
509,000	85,000	158,000	-82,000	512,000	58,000	206,000	188,700	544,200	134,800	194,300	139,300	547,900	24,500	323,300	288,800	567,800	113,200	279,700	148,900	510,147	-23,532	222,385	183,157	268,357	-1,164	182,650	114,670	135,487	55,098	58,582
Cash flows from investing activities
Capital expenditures
59,000	51,000	54,000	46,000	45,000	49,000	41,000	36,200	25,900	43,100	14,800	17,300	48,500	52,300	46,900	79,000	96,800	87,400	106,000	73,467	125,330	84,216	73,187	57,758	53,362	40,271	33,309	46,486	31,994	25,471	17,370
Purchase of intangible assets
-	-	-	-	-	-	-	-	-	-	-	-600	-100	5,500	200	2,000	100	1,900	7,400	3,050	14,090	7,556	4,504	6,838	7,274	8,845	5,843	-	-	-	-
Cash paid for business acquisitions, net of cash acquired
0	0	1,000	1,873,000	0	2,000	0	500	1,413,100	0	1,400	400	0	0	480,600	3,600	-3,000	-1,100	0	-	-	-	-	-	-	-	-	-	-	-	-
Settlement of a net investment hedges
1,000	8,000	23,000	11,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Equity method investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	100	0	900	-	-	-	0	-	-	-	-	-	-	-	-
Net cash used in investing activities
-58,000	-43,000	-32,000	-1,909,000	-154,000	-21,000	-41,000	-36,200	-1,400,800	-79,800	-16,200	-17,100	-48,400	-57,800	-527,700	-84,600	-94,000	-88,200	-114,300	-76,577	-139,420	-94,712	-77,691	-66,596	-60,636	-49,116	-39,152	-57,413	-38,845	-25,471	-17,370
Cash flows from financing activities
Debt borrowings
519,000	935,000	390,000	607,000	2,787,000	376,000	434,000	441,200	1,445,900	223,300	409,600	878,200	-16,100	131,300	246,600	100	192,500	0	0	-	-	-	-	-20	2,759	6,624	11,737	0	0	6,477	9,803
Debt repayments
816,000	954,000	526,000	634,000	1,001,000	438,000	487,000	561,900	456,100	379,100	386,900	893,400	197,400	0	2,200	1,800	198,000	0	0	-	-	-	-	-20	2,759	6,624	11,737	0	13,731	21,997	3,226
Purchase of treasury shares
100,000	0	2,000	0	100,000	1,000	106,000	200,000	100	600	160,300	250,200	100,100	250,300	404,400	200,000	201,300	400,000	351,100	92,045	402,218	0	1,037	-	-	-	-	-	-	-	-
Tax benefits on exercise of share options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,700	800	8,300	5,080	10,567	10,967	18,686	9,969	4,424	22,042	18,265	15,742	8,690	113,650	6,426
Exercise of employee share options
0	0	0	6,000	3,000	14,000	6,000	8,500	2,500	2,900	100	0	1,800	3,200	3,000	6,200	500	1,100	4,900	5,240	1,917	2,970	5,173	5,465	492	6,632	6,411	4,679	2,089	21,106	2,561
Payment of deferred financing costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,648	12	11	37
Other financing activities
-	-	-	-	-	-	-	-	-100	100	-200	-	0	0	0	-100	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in financing activities
-397,000	-19,000	-138,000	-21,000	1,674,000	-49,000	-153,000	-312,000	992,100	-153,400	-137,700	-265,400	-311,800	-115,800	-157,000	-208,800	-204,600	-398,100	-337,900	-81,725	-389,734	13,937	22,822	15,457	2,469	28,498	24,676	18,773	-2,964	119,225	15,527
Effect of exchange rate changes on cash and cash equivalents
4,000	-4,000	0	-2,000	-1,000	-3,000	-5,000	4,700	3,700	2,900	3,700	3,300	-4,200	-1,600	-3,500	9,800	-3,900	-3,900	2,100	-14,534	-7,144	-8,482	3,060	-3,948	-690	1,467	-1,529	-1,794	-146	1,317	-1,018
Net increase in cash and cash equivalents
58,000	19,000	-12,000	-2,014,000	2,031,000	-15,000	7,000	-154,800	139,200	-95,500	44,100	-139,900	183,500	-150,700	-364,900	5,200	265,300	-377,000	-170,400	-23,936	-26,151	-112,789	170,576	128,070	209,500	-20,315	166,645	74,236	93,532	150,169	55,721
Supplemental disclosures of cash flow information
Cash paid for interest
22,000	15,000	30,000	21,000	8,000	3,000	13,000	4,500	4,300	900	1,300	900	1,400	1,400	300	1,100	0	200	200	163	196	168	173	187	253	151	109	84	0	305	95
Cash paid for income taxes
13,000	50,000	12,000	44,000	30,000	74,000	24,000	19,000	14,100	59,000	11,900	6,300	61,700	86,700	16,300	67,200	72,100	72,300	61,400	57,692	74,922	189,516	51,170	74,148	66,615	117,092	22,845	16,442	3,196	34,444	16,418
Supplemental disclosure of non-cash investing and financing activities
Accrued capital expenditures
0	4,000	23,000	2,000	0	-5,000	28,000	4,000	6,100	3,100	12,800	-13,200	4,500	3,500	28,200	-12,000	17,400	2,600	25,600	7,110	-5,254	6,832	24,212	-2,335	4,158	3,539	10,938	-4,155	4,034	-1,045	13,455