LITHIA MOTORS INC LAD Cash Flow

Lithia motors inc (LAD)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'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	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11
Cash flows from operating activities:
Net income
46,200	68,000	85,200	61,900	56,400	59,900	93,100	60,600	52,100	89,387	51,886	53,200	50,727	51,361	54,041	51,428	40,270	47,732	43,391	51,223	40,653	41,140	34,537	38,309	24,734	27,372	31,018	25,555	22,055	19,832	23,243	20,491	16,796	18,766	16,563	14,826	8,705
Adjustments to reconcile net income to net cash provided by operating activities:
Asset impairments
0	2,100	0	0	500	1,300	0	0	0	-	-	-	-	3,506	3,498	3,498	3,498	5,733	4,131	6,130	4,130	1,853	0	0	0	-	-	-	-	0	0	0	115	504	0	490	382
Depreciation and amortization
22,000	21,500	20,900	20,200	19,800	20,100	19,600	18,900	16,800	16,102	14,828	14,031	12,739	12,928	12,206	12,503	11,663	11,056	10,531	10,287	9,726	8,964	6,067	5,825	5,507	-	5,099	4,899	4,721	-	-	-	-	-	-	-	-
Stock-based compensation
5,100	4,400	4,400	3,900	3,500	3,500	3,000	3,200	3,600	2,904	2,964	2,813	2,619	2,335	2,647	2,869	3,149	3,292	2,757	3,095	2,727	2,382	1,795	1,721	1,538	2,404	1,558	1,463	1,140	787	817	936	576	315	652	543	491
Loss on disposal of other assets
-100	100	0	0	0	-	-	-	-	18	638	23	-279	1	-213	1,121	3,391	-176	17	-36	-8	37	-245	-42	-20	2,446	-74	-52	19	369	-605	-5	988	6,361	-56	295	-105
(Gain) loss on disposal of franchise
100	600	9,400	-200	-100	-300	15,800	-400	0	5,100	0	0	0	-2	0	15	1,087	0	0	2,570	3,349	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income taxes
8,200	600	31,900	2,400	5,200	13,500	19,200	-2,400	2,700	-10,198	8,554	-739	-417	318	4,078	-4,557	10,261	20,296	-6,810	-5,008	3,863	8,630	1,885	974	1,866	5,973	7,679	1,031	-206	7,321	6,549	1,172	-870	4,768	1,265	2,454	-394
Excess tax benefit from share-based payment arrangements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	58	132	4,733	26	102	212	5,846	38	548	2,471	2,937	1,173	603	277	749	165	82	257	21
(Increase) decrease (net of acquisitions and dispositions):
Accounts receivable, net
-202,100	45,300	-29,600	9,800	-49,900	58,700	-15,500	-5,300	-42,600	44,055	84,253	5,215	-76,123	100,089	12,475	19,000	-25,564	22,732	-2,115	-1	-7,569	48,138	-9,373	8,450	12,259	30,433	-3,747	9,724	960	4,544	10,855	6,672	11,633	15,326	598	1,931	4,648
Inventories
69,800	15,600	-58,900	-18,400	81,400	94,400	-21,000	-63,400	98,900	177,002	-19,980	-6,220	42,298	83,236	-28,488	40,308	73,744	64,672	9,747	83,200	39,460	31,653	-32,951	20,552	56,748	88,709	-30,712	56,789	-7,890	72,256	48,594	47,479	62,113	24,813	-7,109	18,729	41,769
Other current assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-223	-5,757	-	1,511	612	-5,292	12,033	617	-427	888
Other assets
6,800	10,300	-15,900	2,600	-9,000	28,000	8,600	-5,900	-14,700	18,307	-14,728	-4,255	3,776	17,988	964	-10,313	4,661	25,951	1,524	1,737	2,078	16,834	7,749	3,661	2,290	7,315	-5,054	2,970	424	6,024	2,499	4,625	-2,778	-2,971	3,195	472	412
Floor plan notes payable
32,700	-17,600	6,600	-55,100	-34,600	-188,800	7,000	2,600	-17,700	-8,174	-10,796	1,099	-2,429	1,722	-9,437	-932	-7,753	-1,431	-1,187	-3,325	-1,092	1,779	-1,500	-1,307	1,675	-11,021	2,337	1,127	2,257	11,866	330	-90,981	-3,324	24,147	-12,381	-8,161	9,905
Trade payables
-14,600	-1,900	-3,400	9,900	-6,400	11,500	700	-4,000	6,900	7,603	11,983	8,031	-7,617	10,247	-525	5,758	920	-7,094	-1,086	2,055	6,799	-7,351	2,835	-363	1,774	3,632	2,770	2,488	-410	2,620	-1,908	5,740	1,549	2,239	-920	1,383	3,296
Accrued liabilities
-49,400	-1,500	-27,700	5,700	-14,500	20,300	3,100	19,100	-13,600	11,293	29,591	-34,800	31,116	10,026	15,279	4,170	13,425	-676	9,232	3,273	4,444	-35,384	4,319	5,073	12,521	-795	4,287	2,624	6,188	374	2,494	2,565	5,105	1,715	2,133	-1,926	9,683
Other long-term liabilities and deferred revenue
11,400	7,100	9,400	1,900	500	2,100	-900	19,700	4,300	7,581	1,562	5,207	4,750	8,973	7,559	5,272	5,396	-885	23,490	4,323	6,838	21,498	4,976	6,538	5,121	4,845	418	7,184	4,705	3,532	3,227	4,420	2,280	-835	6,600	1,286	132
Net cash provided by operating activities
121,700	46,000	209,100	167,200	77,200	140,500	142,900	187,400	48,900	-111,636	81,981	51,881	126,674	-103,340	123,482	31,742	39,016	-27,371	77,592	-8,899	38,229	-56,735	91,896	18,193	-22,387	-80,615	88,225	-25,308	49,757	-36,141	-24,292	-111,056	-40,987	-4,193	20,663	-5,996	-11,240
Cash flows from investing activities:
Principal payments received on notes receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3	27	-258	319	867	29	25	25	24	25	36	36
Capital expenditures
41,600	33,000	34,100	28,700	29,100	44,600	41,000	30,400	42,000	33,226	39,908	16,227	16,039	19,437	38,116	27,347	15,900	21,085	14,151	23,091	24,917	31,834	18,919	22,600	12,630	16,222	11,696	15,522	6,585	29,618	12,273	14,234	8,459	8,677	15,141	5,522	2,333
Proceeds from sales of assets
200	700	0	400	400	1,100	200	1,700	100	2,973	9,457	2,471	399	444	1,559	105	92	41	84	42	103	1,653	3,140	76	27	4,158	54	-20	440	2	1,085	3,931	1,009	18,460	-141	8,274	3,084
Cash paid for other investments
9,300	500	0	100	6,600	600	55,000	-500	7,600	671	181	885	6,863	8,021	5,589	5,241	11,449	7,417	5,471	5,418	9,804	5,725	-69	-76	3,530	-	-	-	-	-	-	-	-	-	-	-	-
Payments for life insurance policies
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-58	-75	2,641	-	-26	-34	1,968	0	-101	-47	1,048
Cash paid for acquisitions, net of cash acquired
72,300	223,800	67,800	75,000	0	-200	-600	50,200	324,400	59,842	312,483	88,075	0	35,265	180,628	5,008	13,799	36,695	34,833	87	0	578,076	2,076	47,793	31,689	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sales of stores
4,700	5,800	12,000	28,900	0	1,400	32,100	400	400	17,483	3,417	0	0	63	0	15	11,822	0	0	9,286	3,680	-	-	-	-	-	-	-	-	3,717	0	0	2,901	-	-	-	-
Net cash used in investing activities
-118,300	-238,300	-89,900	-74,500	-35,300	-42,500	-63,100	-78,000	-373,500	-73,283	-339,698	-102,716	-22,503	-62,216	-222,774	-37,476	-29,234	-65,156	-54,371	-19,268	-30,938	-613,982	-14,904	-59,624	-47,822	-62,787	-11,557	-47,511	-8,467	-39,752	-29,727	-23,026	-6,492	25,063	-14,169	-50,055	-261
Cash flows from financing activities:
(Repayments) borrowings on floor plan notes payable, net: non-trade
-43,500	59,400	-102,900	-54,600	43,500	-83,600	-24,100	38,000	47,800	207,444	66,180	-30,014	-2,110	159,083	35,195	19,996	38,626	99,997	519	57,669	-21,984	409,966	-82,535	61,127	51,783	125,951	-3,304	5,036	953	75,717	20,916	212,443	39,401	-4,257	1,613	26,527	39,262
Borrowings on lines of credit
430,000	1,020,000	736,000	841,000	570,000	726,900	611,200	459,300	894,000	448,500	532,500	542,500	231,000	402,677	354,000	274,500	213,123	383,257	320,946	286,371	271,023	598,988	258,156	345,000	233,000	301,000	141,000	240,000	118,000	227,000	188,000	172,623	5,000	-	-	-	-
Repayments on lines of credit
375,000	1,272,000	759,600	825,000	625,000	639,400	606,100	667,400	586,700	403,347	624,007	457,413	351,433	378,606	275,539	239,644	229,311	358,303	336,999	308,858	293,960	360,375	324,000	357,275	209,725	271,909	215,128	171,015	156,303	223,478	144,168	200,623	12,000	0	0	0	9,000
Principal payments on long-term debt and capital leases, scheduled
6,500	8,000	6,000	5,800	6,200	9,600	7,300	4,900	4,700	4,503	4,872	4,177	4,648	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Principal payments on long-term debt and capital leases, other
0	0	0	7,700	3,300	20,800	0	5,300	0	3,829	10,706	26,022	9,743	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of long-term debt
17,200	420,300	0	0	0	-	-	-	-	-5	321,840	46,187	27,878	43,684	10,736	0	12,080	0	16,250	9,075	50,350	-	-	-	-	-	-	-	-	28,164	0	6,100	8,069	-	-	-	-
Payments of debt issuance costs
400	5,400	200	200	0	0	200	200	0	183	4,517	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of common stock
2,600	3,000	2,900	2,800	2,300	2,700	2,900	2,600	1,900	1,923	2,058	1,996	1,523	1,709	1,862	1,865	1,464	1,752	1,724	1,550	1,039	1,179	1,158	1,085	1,168	1,006	1,124	1,877	966	4,052	1,929	1,802	869	2,806	1,015	1,243	590
Repurchase of common stock
48,200	100	0	0	3,100	67,300	47,700	25,600	8,300	2,279	6,608	15,725	9,188	4,303	3,739	47,122	57,736	7,350	7,425	6,430	10,343	-	-	-	-	-	-	-	-	-	-	-	2,653	2,132	11,294	1	141
Excess tax benefit from share-based payment arrangements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	212	5,846	-	548	2,471	2,937	1,173	603	277	749	165	82	257	21
Dividends paid
7,000	6,900	7,000	7,000	6,700	6,700	7,100	7,100	6,800	6,697	6,751	6,760	6,292	6,277	6,299	6,373	5,151	5,246	5,257	5,266	4,216	4,198	4,174	4,179	3,378	-	-	-	-	5,123	2,545	2,584	1,814	1,816	1,838	1,852	1,316
Payments of contingent consideration related to acquisitions
-	-	-	-	-	0	0	0	800	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in financing activities
-30,800	249,200	-136,800	-93,000	-28,500	-97,800	-78,400	-148,500	336,400	203,624	265,117	50,572	-123,013	191,748	108,364	-781	-33,231	104,828	-13,908	30,538	-16,166	678,949	-83,529	47,294	68,863	150,995	-80,832	78,070	-69,123	98,975	57,529	141,364	35,593	-15,955	-2,296	54,671	15,313
(Decrease) increase in cash and cash equivalents
-27,400	56,900	-17,600	-300	13,400	200	1,400	-39,100	11,800	18,705	7,400	-263	-18,842	26,192	9,072	-6,515	-23,449	12,301	9,313	2,371	-8,875	8,232	-6,537	5,863	-1,346	7,593	-4,164	5,251	-27,833	23,082	3,510	7,282	-11,886	4,915	4,198	-1,380	3,812
Supplemental disclosure of cash flow information:
Cash paid during the period for interest
31,500	28,200	38,100	31,600	37,900	28,200	34,200	24,400	30,300	17,740	17,684	16,215	17,261	13,059	11,681	11,970	12,990	9,958	8,878	9,768	12,494	9,054	5,338	5,116	5,102	5,014	4,999	5,152	5,837	5,660	5,626	5,896	5,794	6,476	6,209	6,259	6,017
Cash paid during the period for income taxes, net
1,300	24,600	6,600	7,000	200	30,000	600	1,100	1,200	38,094	26,932	62,266	8	27,722	19,794	9,187	497	35,616	22,218	22,157	6,542	18,909	21,474	19,738	3,706	16,802	9,769	17,075	-964	10,765	11,597	12,095	2,122	13,512	10,422	8,861	927
Floor plan debt paid in connection with store disposals
0	6,300	7,500	0	4,800	0	27,900	1,400	3,800	3,700	0	0	0	16	0	0	5,284	0	0	2,192	2,208	-	-	-	-	-	-	-	-	0	0	0	6,712	-	-	-	-
Supplemental schedule of non-cash activities:
Debt issued in connection with acquisitions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	52,532	0	0	3,161	-	-	-	-	-	-	-	-	-	-	-	-
Debt assumed in connection with acquisitions
-	-	-	-	-	0	0	100	10,700	-2,602	75,065	11,837	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
ROU assets obtained in exchange for lease liabilities
1,800	0	0	3,300	257,000	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-