LCI INDUSTRIES LCII Cash Flow

Lci industries (LCII)

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
28,214	28,807	35,809	47,527	34,366	20,179	33,812	47,224	47,336	17,464	32,138	40,137	43,145	26,299	29,844	37,569	35,959	16,140	17,263	20,869	20,073	11,996	15,488	18,618	16,164	11,077	14,805	15,865	8,372	4,745	9,771	11,708	11,116	4,088	5,619	10,965	9,387
Adjustments to reconcile net income to cash flows provided by operating activities:
Depreciation and amortization
24,614	19,476	18,767	18,666	18,449	17,787	17,263	17,201	15,275	14,871	14,326	13,289	12,241	12,447	11,530	11,247	10,943	10,961	10,808	10,053	9,802	9,121	8,555	7,680	7,240	7,112	6,935	6,901	6,552	6,454	6,850	5,980	6,381	5,453	5,053	5,126	4,890
Stock-based compensation expense
3,295	4,016	4,213	4,115	3,733	213	4,090	4,219	5,543	4,994	5,730	5,410	3,902	3,999	4,147	4,134	3,140	3,059	3,915	4,006	3,063	2,908	2,632	2,652	2,625	2,615	2,380	2,689	3,155	1,615	1,634	1,750	1,319	1,235	1,143	1,096	1,113
Excess tax benefits from stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other non-cash items
2,231	2,390	-132	-94	-611	-946	32	-200	1,127	-716	-1,457	-1,059	-1,139	188	-919	-975	166	-481	-692	-9	-153	41	366	-2,524	-679	-80	-163	-1,115	-509	235	242	-670	-461	-819	-589	-271	109
Changes in assets and liabilities, net of acquisitions of businesses:
Accounts receivable, net
74,776	-16,915	20,022	-35,408	57,753	-40,381	-503	-18,837	71,073	-57,119	8,265	-9,700	71,155	-32,129	-12,749	-4,509	63,286	-42,843	10,225	-21,275	51,811	-26,556	-9,758	-5,870	42,790	-23,816	-4,691	5,117	32,403	-28,575	-479	-6,635	34,915	-19,433	-6,720	806	30,354
Inventories, net
-40,883	-33,380	15,534	-23,892	-16,052	18,255	1,919	-2,676	17,232	44,918	26,976	8,651	-1,847	21,307	12,139	-17,093	-8,497	-8,013	14,928	20,856	3,505	5,414	15,299	5,644	-4,417	4,649	-3,613	-10,473	12,840	-1,026	6,980	2,712	-3,939	-5,843	7,958	5,944	6,679
Prepaid expenses and other assets
-6,350	8,237	-3,675	-1,176	-10,268	8,185	3,763	2,558	3,185	-7,764	9,325	7,156	2,181	7,894	3,460	2,002	2,197	4,225	357	-2,677	344	942	2,981	5,430	-4,743	6,378	-517	307	-3,880	3,745	2,351	4,132	510	-148	70	1,664	262
Accounts payable, trade
31,878	-20,626	-3,130	-14	11,581	-4,405	-18,342	-2,702	8,114	-9,129	7,314	4,396	18,146	-5,027	2,331	2,804	18,692	-23,395	362	-12,428	13,678	4,993	-6,819	-279	23,374	-7,746	-1,654	-6,835	18,531	-11,667	-10,980	24,623	4,007	-14,364	2,729	-1,832	17,858
Accrued expenses and other liabilities
-13,468	-14,774	5,517	-3,334	15,278	-13,519	-2,949	-1,065	11,246	-10,801	-5,284	16,804	14,627	-118	-15,347	13,324	32,116	-4,672	862	3,621	16,024	-3,628	201	2,494	10,858	-5,190	-2,818	9,307	3,192	2,002	-2,155	879	11,362	-2,898	-7,593	-274	7,239
Net cash flows provided by operating activities
44,759	59,983	29,427	127,530	52,585	49,016	28,663	84,032	-5,103	44,888	11,115	74,988	21,711	37,559	30,757	89,653	43,698	50,267	8,392	29,226	7,133	40,056	11,169	28,485	27,310	21,006	28,632	34,091	-1,052	28,102	-3,974	45,401	3,160	20,552	5,873	7,323	3,083
Cash flows from investing activities:
Capital expenditures
7,955	10,435	11,981	11,344	24,442	27,305	37,983	28,535	26,004	26,879	17,066	31,256	12,020	22,744	8,618	6,851	6,458	7,181	7,140	6,075	8,593	12,426	12,120	11,088	6,824	6,515	8,535	8,607	8,938	10,016	8,856	7,470	5,684	6,596	7,178	7,407	3,136
Acquisitions of businesses, net of cash acquired
95,766	393,841	45,393	8,530	0	28,091	3,286	14,845	138,570	-7,288	0	57,187	10,689	14,488	0	16,137	18,100	0	16,000	22,335	2,723	6,625	18,000	35,500	46,657	3,299	0	1,451	0	0	0	309	1,164	962	42,090	0	7,250
Proceeds from note receivable
-	-	-	-	-	-	0	1,845	155	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sales of fixed assets
-	-	-	-	-	-	-	-	-	-	-	-	119	-	196	103	234	196	183	1,890	68	243	1,345	1,292	707	63	1,311	39	31	23	3,274	2,079	44	-	-	-	-
Proceeds from maturity of short-term investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	5,000
Other investing activities
-1,972	-1,768	-113	-190	-61	-2,699	-141	981	35	-1,691	14	-177	-80	-5	79	86	151	134	59	36	177	105	17	45	4	37	69	19	29	31	40	29	19	405	580	-190	48
Net cash flows used in investing activities
-101,749	-402,508	-57,261	-19,684	-24,381	-54,697	-41,128	-42,516	-164,454	-17,900	-17,080	-88,385	-22,510	-35,760	-8,501	-22,971	-24,475	-5,119	-23,016	-26,556	-11,425	-17,913	-28,792	-44,591	-52,778	-9,788	-7,293	-10,038	-8,936	-10,024	-5,622	-5,729	-6,823	-7,873	-48,600	-7,217	-5,434
Cash flows from financing activities:
Exercise of stock-based awards, net of shares tendered for payment of taxes
-4,517	-890	-50	-796	-6,348	-1,983	0	-29	-14,085	-3,218	230	107	-7,650	2,165	1,553	2,052	-3,196	1,745	413	1,159	-1,847	2,214	130	105	3,320	3,358	1,131	5,727	4,959	5,377	1,369	497	974	684	0	165	339
Proceeds from line of credit borrowings
247,154	251,159	98,940	129,628	175,660	458,412	297,453	157,148	474,000	18,415	9,715	0	0	0	0	0	81,458	51,304	172,455	215,520	175,350	94,984	148,031	102,846	79,469	0	0	39,119	96,333	14,525	0	0	37,702	-	-	-	0
Repayments under line of credit borrowings
102,330	184,970	88,940	172,261	182,720	408,352	269,453	172,148	297,000	18,415	9,715	0	0	0	0	0	81,458	93,133	160,626	185,520	191,000	119,334	130,319	90,558	69,469	0	0	39,119	96,333	14,525	0	0	37,702	-	-	-	0
Repayments under term loan borrowings
3,750	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from other borrowings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	50,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Payment of dividends
16,321	16,280	16,267	16,267	14,999	15,156	15,129	15,127	13,858	13,711	12,459	12,445	12,442	12,359	7,371	14,707	0	-	-	-	-	0	0	0	46,706	0	0	0	0	-	-	-	-	-	-	-	-
Payment of contingent consideration related to acquisitions
-	-	-	-	-	-	-	-	-	3,772	5	685	839	485	4	2,300	415	11	2,089	1,747	127	7	219	2,415	1,098	1,169	1,474	1,938	875	1,062	1,703	1,196	354	172	2	227	-3
Other financing activities
-391	783	-8	-236	-157	-1,817	0	0	-556	0	0	0	-59	-10	66	-1,084	0	0	-59	0	-161	0	0	0	-196	0	0	0	0	-	-	-	-	-4	-22	-4	-137
Net cash flows provided by (used in) financing activities
119,845	349,796	-6,325	-59,936	-28,564	2,359	12,864	-28,658	148,501	-20,701	-12,234	-13,023	-20,990	-10,689	-5,756	-16,039	-3,611	-40,095	10,094	-18,815	32,215	-22,143	17,623	9,978	-34,680	2,189	-343	3,789	4,084	-40,723	-334	-699	620	-7,567	7,425	-60	199
Effect of exchange rate changes on cash and cash equivalents
-215	611	976	-1,567	-251	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net decrease in cash and cash equivalents
62,640	7,882	-33,183	46,343	-611	-3,322	399	12,858	-21,056	6,287	-18,199	-26,420	-21,789	-8,890	16,500	50,643	15,612	5,053	-4,530	-16,145	27,923	0	0	-6,128	-60,148	13,407	20,996	27,842	-5,904	-22,645	-9,930	38,973	-3,043	5,112	-35,302	46	-2,152
Supplemental disclosure of cash flow information:
Cash paid during the period for interest
5,536	2,987	2,208	1,554	2,394	1,401	1,662	1,570	1,012	359	350	458	483	467	443	561	521	636	689	615	173	232	205	131	73	138	67	95	64	80	73	120	96	21	125	67	71
Cash paid during the period for income taxes, net of refunds
-73	9,420	14,526	13,831	59	6,147	8,937	24,918	-11	5,439	30,561	15,548	2,072	14,268	32,390	19,012	122	11,819	13,350	8,529	84	3,646	14,004	12,375	922	7,523	10,918	8,342	16	8,024	3,539	12,591	-9	1,808	4,543	12,479	79
Purchase of property and equipment in accrued expenses
2,459	2,829	290	-904	1,202	-82	-197	-3,047	3,711	1,435	-867	-140	2,212	1,182	-29	-151	459	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-