Michaels companies, inc. (MIK)
CashFlow / Quarterly
Feb'20Nov'19Aug'19May'19Feb'19Oct'18Jul'18May'18Feb'18Oct'17Jul'17Apr'17Jan'17Oct'16Jul'16Apr'16Jan'16Oct'15Jul'15Apr'15Jan'15Oct'14Jul'14Apr'14
Cash flows from operating activities:
Net income

181,652

28,705

24,547

37,691

181,403

83,769

27,488

26,885

202,968

79,760

35,562

72,208

195,318

76,459

35,617

70,765

183,666

76,797

35,711

66,738

156,560

64,064

-48,643

45,414

Adjustments to reconcile net income to net cash used in operating activities:
Amortization of operating lease assets

-

81,397

81,490

81,371

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation and amortization

31,474

31,295

31,241

31,489

34,338

30,879

29,596

29,458

32,680

28,809

28,872

28,551

29,122

28,211

28,998

29,470

29,374

29,433

28,004

27,945

28,592

29,093

26,546

26,627

Share-based compensation

4,246

6,658

4,755

7,251

6,302

8,446

5,365

6,969

6,032

7,675

5,615

4,942

4,622

5,294

3,461

3,129

5,581

3,258

3,505

2,720

4,788

4,936

5,980

3,683

Debt issuance costs amortization

942

970

1,302

1,237

1,238

1,237

1,248

1,274

1,275

1,274

1,275

1,274

1,275

1,548

1,786

1,974

2,012

2,089

2,089

2,277

2,349

2,382

2,744

2,858

Loss on write-off of investment

0

0

0

5,036

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accretion of long-term debt, net

66

67

-132

-130

-133

-129

-130

-126

-126

-127

-126

-126

-117

-93

-62

-62

-52

-32

-33

-33

-33

-52

-103

-328

Restructure charges

-

-

3,869

3,087

-

0

-3,220

47,498

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes

19,439

-10,023

-101

140

421

6,940

-1,810

2,580

3,819

754

-484

259

-5,536

9,487

4,610

-3,991

1,058

1,039

1,410

5,104

20,271

-145

1,059

-5,903

Losses on disposition of property and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-64

-21

-3

-32

-

-

-

-

-

-

-

-

Excess tax benefits from share-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

2,542

214

2,672

4,599

468

1,087

2,753

10,199

4,535

67

271

208

Changes in assets and liabilities:
Merchandise inventories

-325,724

167,909

155,277

-6,966

-274,370

160,674

158,831

18,755

-280,367

207,868

92,734

-25,516

-266,125

248,313

87,594

-28,982

-274,152

203,167

88,081

27,117

-156,706

179,795

9,840

27,414

Prepaid expenses and other

-16,116

3,663

4,370

6,412

-6,462

5,103

-694

-1,523

-1,033

8,817

2,312

-2,311

-6,550

8,193

828

-1,467

-8,708

10,708

408

2,467

-12,428

-1,189

5,442

-204

Accounts receivable

1,168

6,990

-13,969

-23,705

-4,169

11,903

1,474

4,892

-4,729

6,625

-2,070

3,166

-13,712

9,622

2,030

-6,888

-310

1,119

-960

-3,574

-

-

-

-

Other assets

-1,166

-4,663

-3,573

12,964

183

149

323

842

755

310

267

433

358

-92

125

320

-9

-43

-1

87

-1,404

-3

1,434

297

Operating lease liabilities

-97,059

-85,664

-83,444

-56,843

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable

-177,009

117,685

125,774

-81,237

-160,549

95,265

101,462

-46,639

-188,972

162,788

79,926

-91,767

-195,018

253,437

88,166

-108,337

-94,847

138,610

50,761

-70,307

-61,212

175,546

7,210

-44,834

Accrued interest

-10,633

9,486

-8,751

7,706

-8,541

7,297

-7,772

8,325

-11,726

7,377

-2,708

-4,983

299

11,761

-11,720

6,675

-3,493

5,256

-10,341

10,430

-14,683

14,725

-14,508

-31,181

Accrued liabilities and other

-25,549

44,372

-29,232

-25,611

-18,302

50,915

-14,482

-35,356

-9,511

15,496

43,455

-46,266

13,807

16,478

8,814

-43,905

11,010

19,094

18,355

-71,989

31,747

13,150

14,091

-44,694

Income taxes

35,965

16,009

-46,645

12,318

34,726

8,083

-99,030

11,689

90,016

30,143

-124,213

32,442

100,277

15,815

-69,258

-9,558

67,353

40,433

-54,114

-8,731

70,097

33,299

-96,355

-6,035

Other liabilities

-268

-120

371

-1,002

2,761

-2,497

319

2,912

5,354

133

-911

2,183

301

1,885

1,868

-2,473

-584

1,002

-2,332

265

-344

1,374

2,749

-4,056

Net cash used in operating activities

386,808

108,475

-35,906

33,798

418,442

112,376

-119,065

32,503

417,183

110,462

-26,980

22,945

427,901

160,940

-561

-23,863

486,177

100,941

-11,194

-71,877

405,495

161,238

-50,378

-74,358

Additions to property and equipment

30,913

32,099

32,432

25,101

25,834

49,645

42,084

27,824

55,190

29,520

27,430

15,690

32,299

43,768

23,731

14,664

34,194

26,485

28,277

34,964

33,506

39,504

33,968

30,802

Acquisition of intangible assets

-

-

-

-

-

-

-

-

-

-

-

-

0

0

6,500

144,600

-

-

-

-

-

-

-

-

Net cash used in investing activities

-

-

-

-

-

-

-

-

-

-

-

-15,690

-32,299

-45,093

-30,231

-159,264

-34,194

-31,485

-28,277

-34,964

-

-

-

-

Common stock repurchased

89

80,583

25,153

2,172

26,076

178,001

250,389

2,119

157

62,431

90,997

100,167

244,684

31,248

68,061

60,978

1,549

606

396

19,426

12,038

1,932

16

7,571

Payments on term loan credit facility

6,225

6,225

6,225

6,225

7,544

5,566

5,565

6,225

12,450

6,225

0

12,450

6,225

0

6,225

6,225

156,225

6,225

6,225

6,225

6,225

6,225

4,100

4,100

Borrowings on asset-based revolving credit facility

-

-

-

-

-

-

-

-

25,000

218,100

127,100

12,000

-

-

-

-

-

-

-

-

-

-

-

-

Payments on asset-based revolving credit facility

-

-

-

-

-

-

-

-

134,000

190,100

46,100

12,000

-

-

-

-

-

-

-

-

-

-

-

-

Payment of dividends

-

-

-

-

0

0

0

317

0

0

91

317

0

0

98

317

0

49

126

317

0

50

77

403

Change in cash overdraft

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

769

-

12,494

4,334

-12,404

Proceeds from stock options exercised

0

-36

2

540

2,229

363

909

540

8,739

2,366

754

4,729

1,392

802

6,394

8,664

1,257

1,812

3,472

16,114

19,583

1,385

661

5,582

Excess tax benefits from share-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

2,542

214

2,672

4,599

468

1,087

2,753

10,199

4,535

67

271

208

Other financing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-137

-

-

-

-

-

-

-

-27

Net cash used in financing activities

-6,318

-88,970

-47,408

-7,857

-249,391

-83,252

-138,114

-8,121

-112,868

-38,290

-9,334

-108,205

-246,759

-80,726

-26,229

-54,394

-157,338

-25,078

-162,729

1,114

-187,492

-17,439

58,860

-18,715

Net change in cash and equivalents

291,577

-12,594

-115,746

840

143,217

-20,521

-299,263

-3,442

249,125

42,652

-63,744

-100,950

148,843

35,121

-57,021

-237,521

294,645

44,378

-202,200

-105,727

184,497

104,295

-25,486

-123,875

Cash paid for interest

-

28,383

47,827

29,164

-

29,763

43,757

25,344

-

24,341

32,893

34,560

-

18,324

41,996

23,638

-

26,745

42,564

25,143

-

-

-

-

Cash paid for taxes

-

2,117

52,356

2,320

-

774

109,580

5,370

-

10,826

143,942

4,245

-

6,089

84,397

53,997

-

2,961

73,965

42,748

-

-

-

-