Medifast, inc. (MED)
CashFlow / Quarterly
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
Operating Activities
Net income

18,477

19,881

15,902

21,383

20,750

15,653

13,781

14,133

12,222

7,306

6,686

7,584

6,145

4,113

6,065

3,397

4,260

3,860

5,506

6,248

4,444

-3,361

4,855

5,720

5,967

5,290

5,673

7,073

5,933

1,865

7,207

2,814

3,990

1,169

5,070

5,944

6,358

Income from discontinued operations, net of tax

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-42

104

401

28

-5,945

-426

-899

-578

-

-

-

-

-

-

-

-

-

-

-

-

Income from continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,902

5,402

5,847

4,416

2,584

5,281

6,619

6,545

-

-

-

-

-

-

-

-

-

-

-

-

Adjustments to reconcile net income to cash provided by operating activities
Depreciation and amortization

1,659

1,261

1,207

552

1,604

916

830

1,145

1,544

1,005

1,088

1,040

1,076

1,194

1,215

1,387

1,609

1,690

1,740

1,808

1,877

2,075

1,909

2,039

2,029

-11

2,691

2,591

2,630

166

3,029

2,809

2,381

2,551

2,131

2,014

1,648

Share-based compensation

1,000

1,100

1,200

1,200

1,000

700

800

795

805

882

1,203

1,258

957

1,558

678

668

524

1,374

602

576

529

2,060

451

633

774

1,437

621

605

546

1,034

361

882

573

608

617

617

682

Loss on sale of disposal of property, plant and equipment

-

-

-

-

-

2

0

164

-214

-1

0

-142

49

-

-

-

-

-

-

-

-

12

-15

0

32

-307

-24

-46

-15

-41

-15

-4

-40

-

-

-

-

Realized (gain) loss on investment securities, net

-

-

-

-

-

-

-

78

-57

-

-16

3

-60

49

84

29

-44

409

-17

16

118

-178

716

45

188

-263

139

175

23

-6

-44

35

13

-152

-67

-103

115

Amortization of premium on investment securities

95

99

106

120

129

137

136

145

153

156

173

180

194

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes

37

505

718

1,007

-632

-659

-992

-931

-105

368

-291

-458

-242

365

-167

-2,287

-740

-269

668

-351

-154

1,046

-388

9

-381

475

505

5

-557

-158

176

-727

111

1,183

4,623

-371

580

Change in operating assets and liabilities:
Accounts receivable

-1,047

415

3,682

347

-380

410

725

-91

-108

19

-206

-579

102

256

-496

-488

482

-236

-122

-315

656

-400

669

235

204

129

-33

-487

304

-866

337

218

700

-20

350

332

192

Inventories

-888

-3,154

3,452

5,216

4,369

-4,957

16,945

9,612

-2,942

3,304

-2,024

-1,835

1,572

3,296

3,651

-1,879

-92

1,565

-654

-1,762

-1,549

-69

-1,467

1,854

-2,120

738

1,470

-2,438

-2,385

2,424

2,014

918

-4,622

565

3,693

-156

-3,667

Income taxes, prepaid

-4,976

-

-

-

-

-4,544

-401

-65

2,738

1,830

-2,786

1,114

865

-2,493

-112

1,881

1,024

-808

289

2,867

1,202

-4,192

-1,482

-134

610

2,654

-2,221

-515

1,054

-267

-164

2,287

2,705

-602

-5,074

713

2,795

Prepaid expenses and other current assets

1,397

1,278

-2,820

2,643

409

735

-85

359

-727

1,784

-806

285

-577

475

-446

594

-7

1,214

-1,415

273

-16

1,234

-408

-544

67

1,057

-947

-421

107

791

-824

258

585

50

418

-582

257

Other assets

1,764

179

-153

70

-105

69

-101

-34

1

1,739

13

120

4

0

-3

-4

-36

42

1

0

-335

336

-115

99

-2

18

-56

-61

-647

64

210

-178

-251

332

638

5

-4

Accounts payable and accrued expenses

1,736

-3,441

1,589

-223

14,186

-5,638

9,697

15,354

-3,396

8,896

1,779

1,200

-1,222

-996

1,995

-1,497

1,268

-687

-1,080

-4,211

3,615

-1,414

2,338

-1,218

-82

-3,544

-344

-100

2,561

-1,629

-653

3,923

7,333

-2,630

525

2,337

3,578

Net cash flow provided by operating activities- continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-146

7,140

11,354

7,642

2,298

9,861

8,350

12,611

1,224

8,729

6,259

11,126

-

-

-

-

-

-

-

-

-

-

-

-

Net cash flow used in operating activities- discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-169

-199

-297

25

-184

-402

-610

-2,513

-249

-466

-582

-505

-

-

-

-

-

-

-

-

-

-

-

-

Net cash flow provided by operating activities

26,735

19,152

17,897

14,478

32,734

15,338

6,947

20,523

18,008

9,983

12,505

14,066

6,683

-315

6,941

11,057

7,667

2,114

9,459

7,740

10,098

975

8,263

5,677

10,621

-

-

-

14,780

537

8,278

10,741

20,708

1,504

2,860

11,758

18,748

Investing Activities
Sale of investment securities

1,000

0

1,300

1,430

1,000

1,300

1,045

0

1,200

3,915

1,000

1,279

760

0

0

24,720

2,021

4,745

2,685

2,428

2,022

6,269

16,941

2,854

3,572

6,943

1,507

3,331

2,578

969

1,729

2,829

2,582

1,361

1,776

1,289

3,638

Purchase of investment securities

-

-

-

-

-

-

-

-

-

2,863

1,305

1,423

1,365

0

4,146

21,240

1,192

2,263

2,815

2,646

1,526

6,380

8,684

3,073

7,943

3,779

1,389

18,072

2,115

1,588

1,602

2,341

2,859

2,193

1,808

740

5,537

Sale of property and equipment

-

-

-

-

-

-

-

-

-

22

0

0

59

0

21

199

456

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of property and equipment

294

834

2,252

2,528

4,444

1,694

1,152

808

1,286

863

1,359

550

470

837

1,286

670

83

1,214

232

466

907

2,903

1,189

1,750

1,182

2,742

3,067

3,042

2,535

692

2,088

2,855

2,492

4,426

4,298

2,466

3,083

Net cash flow (used in) provided by investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,202

-

-362

-684

-411

-3,014

7,068

-1,969

-5,553

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by investing activities- discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-178

-15

1,185

-42

-

-

-

-

-

-

-

-

-

-

-

-

Net cash flow provided by (used in) investing activities

706

-834

-952

-1,098

-3,444

-382

-107

-624

-86

211

-1,664

-694

-1,016

-

-

-

-

1,268

-362

-684

-411

-3,192

7,053

-784

-5,595

-

-

-

-2,072

-4,567

-1,961

-2,367

-2,769

-5,386

-4,458

-2,048

-4,982

Financing Activities
Options exercised by executives and directors

-

21

0

-21

300

280

158

0

62

0

0

0

568

0

0

273

26

0

0

44

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net shares repurchased for employee taxes

487

13,803

33

0

256

471

34

0

215

1,707

8

0

825

599

0

40

703

421

0

0

875

1,152

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefits from share-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

125

0

9

96

77

5

0

165

224

12

39

0

-

-

-

-

-

-

-

-

-139

44

214

495

Cash dividends paid to stockholders

13,254

8,738

8,909

8,923

8,826

5,756

5,731

5,790

5,883

3,879

3,819

3,814

3,878

2,998

2,962

2,961

2,968

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of long-term debt and capital leases

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

239

Decrease in note receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

45

29

8

8

7

7

7

6

6

5

5

4

4

4

3

3

2

Repayment of capital leases

-

-

-

-

-

-

-

-

-

-

-

-

-

56

55

55

53

82

58

58

57

56

56

55

55

54

83

83

3,421

147

134

893

270

-

-

-

-

Net cash used in financing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-3,602

-

-7,248

-3,335

-722

-955

-19,704

-14,234

-48

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in financing activities- discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net cash flow used in financing activities

-13,741

-22,542

-32,058

-18,911

-8,813

-15,899

-5,607

-25,786

-6,036

-5,586

-3,827

-3,814

-4,135

-

-

-

-

-426

-7,248

-3,335

-722

-

-19,704

-14,234

-48

-

-

-

-3,415

556

-26

-3,189

-266

-310

-8,240

-12,607

258

Foreign currency impact

-4

2

-2

0

1

-

-

-

-

-84

7

4

2

-4

-3

2

12

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Increase in cash and cash equivalents

13,696

-4,222

-15,115

-5,531

20,478

-943

1,231

-5,887

11,886

4,524

7,021

9,562

1,534

-4,684

-1,490

11,294

5,279

3,043

1,849

3,721

8,965

-3,172

-4,388

-9,341

4,978

-11,598

3,575

-4,825

9,293

-3,474

6,291

5,185

17,673

-4,192

-9,838

-2,897

14,024

Supplemental disclosure of cash flow information:
Income taxes paid (received)

80

-

-

-

-24

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest paid

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4

4

10

27

11

40

53

8

11

8

30

30

37

27

29

18

28

25

25

Income taxes paid

-

-

-

-

-

-

-

-

-

3,539

5,019

3,136

1,928

4,455

3,499

2,002

1,659

2,377

1,500

10

295

2,510

3,712

3,812

2,687

-160

3,725

4,235

2,183

1,844

2,144

-410

515

-

-

-

-

Dividends declared included in accounts payable

13,566

4,764

-147

-127

9,229

3,156

67

-29

5,943

1,991

62

61

3,991

877

62

40

3,060

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-