Lifetime brands, inc. (LCUT)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
OPERATING ACTIVITIES
Net (loss) income

-44,415

-1,720

2,154

15,720

-

-

-

-

-

-

-

Net loss

-

-

-

-

12,278

1,544

9,281

20,947

14,066

20,261

2,715

Adjustments to reconcile net loss to net cash provided by operating activities:
Provision for doubtful accounts

-

-

-

-

-

-

-

-

-

-

420

Depreciation and amortization

25,115

23,329

14,189

14,148

14,203

14,200

10,415

9,324

8,397

9,810

11,472

Impairment of goodwill

42,990

2,205

0

-

-

-

-

-

-

-

-

Amortization of debt discount

-

-

-

-

-

-

-

-

543

1,802

2,663

Amortization of financing costs

1,748

1,543

519

650

641

617

528

649

802

-

-

Deferred rent

0

57

-642

-243

848

-722

-962

-668

-133

306

673

Non-cash lease expense

1,047

0

0

-

-

-

-

-

-

-

-

Extraordinary gain

-

-

-

-

-

-

-

-

-

2,477

-

Provision for doubtful accounts

-

-

-

-

-

-

139

123

-24

376

-

Deferred income taxes

-1,073

2,086

1,030

-1,951

-1,440

-3,757

-2,275

-3,011

-1,218

-2,691

734

Net loss on disposal of fixed assets

-

-

-

-84

-

-

-

-

-

-

-

Stock compensation expense

5,041

4,135

3,390

2,942

5,286

4,493

2,881

2,793

2,795

2,928

2,099

Undistributed equity in (earnings) losses, net of taxes

343

545

379

544

348

-6,724

-5,354

5,665

2,896

2,321

1,953

Intangible asset impairment (Note E)

-

-

-

-

-

3,384

-

1,069

-

-

-

Fixed asset impairment

-

-

-

-

-

-

-

-

-

-

789

Loss on early retirement of debt

0

-66

-110

-272

-

-346

-102

-1,363

-

-764

-

SKU Rationalization

8,500

0

0

-

-

-

-

-

-

-

-

Contingent consideration fair value adjustment

0

-1,774

0

-

650

-4,203

-

-

-

-

-

Changes in operating assets and liabilities (excluding the effects of business acquisitions):
Accounts receivable

2,259

-8,020

-1,481

17,977

-15,527

5,923

-10,099

14,741

-3,297

11,619

-6,430

Inventory

7,455

13,819

-10,818

-4,491

308

6,354

8,207

-9,694

5,365

-3,996

-37,680

Prepaid expenses, other current assets and other assets

4,257

-540

951

1,199

-1,087

2,063

449

529

-318

-3,981

271

Accounts payable, accrued expenses and other liabilities

5,108

-3,153

-9,778

12,255

-397

-950

9,437

-166

-4,673

-

-

Income taxes receivable

135

1,442

0

-132

-

-

-

-

-

-

-11,263

Accounts payable, accrued expenses and other liabilities

-

-

-

-

-

-

-

-

-

628

-10,324

Income taxes payable

260

-353

-4,935

969

-1,517

-2,747

-579

1,515

-3,722

4,356

438

NET CASH PROVIDED BY OPERATING ACTIVITIES

-

-

-

-

46,510

4,589

35,764

22,697

-

-

-

NET CASH PROVIDED BY OPERATING ACTIVITIES

29,872

19,175

17,006

29,749

-

-

-

-

12,187

30,100

63,988

INVESTING ACTIVITIES
Purchases of property and equipment

9,169

7,902

6,311

3,380

5,166

6,171

3,842

4,955

4,959

2,864

2,344

Equity investments

-

-

-

-

-

-

-

2,765

5,123

-

-

Filament acquisition, net of cash acquired

0

216,527

0

-

-

59,977

-

-

20,584

-

-

Fitz acquisition, net of cash acquired

0

0

9,072

21,699

-

5,389

-

14,500

-

-

-

Equity investments

-

-

-

-567

-112

764

-

-

-

-

-

Net proceeds from sale of property

0

249

15

64

26

68

11

27

31

70

408

NET CASH USED IN INVESTING ACTIVITIES

-9,169

-224,180

-15,368

-24,448

-

-

-

-

-30,635

-2,794

-1,936

FINANCING ACTIVITIES
NET CASH USED IN INVESTING ACTIVITIES

-

-

-

-

-5,028

-72,233

-3,831

-22,193

-

-

-

Proceeds from revolving credit facility

-

-

-

268,242

-

-

-

-

-

-

-

Repayments of revolving credit facility

-

-

-

246,756

290,346

234,067

231,959

180,257

-

24,601

-

Repayments of prior credit facility, net (Note E)

-

-

-

-

-

-

-

-

-

-

-64,699

Proceeds from long term lines of credit

-

-

-

-

263,632

278,014

220,222

183,600

-

14,100

-

Proceeds from Revolving Credit Facility, net (Note E)

-

-

-

-

-

-

-

-

43,525

-

-

Proceeds from Senior Secured Term Loan (Note E)

-

-

-

-

-

-

-

35,000

-

-

-

Repayments of Senior Secured Term Loan (Note F)

-

-

-

-

-

20,625

14,375

-

-

-

-

Repayments of Term Loan (Note E)

-

-

-

-

-

-

-

40,000

-

-

-

Proceeds from Credit Agreement Term Loan (Note F)

-

-

-

-

-

50,000

-

-

-

-

-

Repayments of term loan

-

-

-

-

10,000

5,000

-

-

-

-

-

Payments for capital leases

92

77

94

68

50

-

-

-

78

158

225

Payment of contingent consideration

-

-

-

-

391

-

-

-

-

-

-

Proceeds from the exercise of stock options

132

286

2,537

2,353

843

2,488

1,215

577

225

174

59

Payments of tax withholding for stock based compensation

399

561

644

86

-

-

-

-

-

-

-

Proceeds from short term loan

0

216

187

118

289

1,645

-

-

-

-

-

Payments from short term loan

0

278

239

248

802

880

-

-

-

-

-

Proceeds (repayments) of Term Loan (Note E)

-

-

-

-

-

-

-

-

-

40,000

-

Repurchase of 4.75% convertible senior notes

-

-

-

-

-

-

-

-

24,100

51,028

-

Payments for stock repurchase

-

-

-

-

-

-

3,229

-

-

-

-

Payment of financing costs

0

11,171

31

30

212

2,283

-

-

761

3,248

-

Payment of equity issuance costs

0

936

0

-

-

-

-

-

-

-

-

Cash dividends paid

3,571

3,273

2,475

2,413

2,150

2,031

1,515

1,249

913

-

-

Excess tax benefit from stock options

-

-

-

223

43

553

613

150

-

124

17

NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES

-

-

-

-

-39,144

67,814

-29,028

-2,179

-

-

-

NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES

-16,916

205,288

-2,297

-4,165

-

-

-

-

17,898

-24,637

-64,848

Effect of foreign exchange on cash

-64

-236

376

-384

-

-

-

-

-

-

-

INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS

3,723

47

-283

752

-

-

-

-

-

-

-

Effect of foreign exchange on cash

-

-

-

-

-275

-49

171

574

171

-

-

INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS

-

-

-

-

2,063

121

3,076

-1,101

-379

2,669

-2,796

Revolving Credit Facility
Proceeds from long term lines of credit

345,494

268,912

237,658

-

-

-

-

-

-

-

-

Repayments of long term lines of credit

355,730

320,767

229,696

-

-

-

-

-

-

-

-

Term Loan
Proceeds from long term lines of credit

0

275,000

0

-

-

-

-

-

-

-

-

Repayments of long term lines of credit

2,750

2,063

0

-

-

-

-

-

-

-

-

Credit Agreement Term Loan
Repayments of long term lines of credit

0

0

9,500

25,500

-

-

-

-

-

-

-