Movado group, inc. (MOV)
CashFlow / Quarterly
Jan'20Oct'19Jul'19Apr'19Jan'19Oct'18Jul'18Apr'18Jan'18Oct'17Jul'17Apr'17Jan'17Oct'16Jul'16Apr'16Jan'16Oct'15Jul'15Apr'15Jan'15Oct'14Jul'14Apr'14Jan'14Oct'13Jul'13Apr'13Jan'13Oct'12Jul'12Apr'12Jan'12Oct'11Jul'11Apr'11
Cash flows from operating activities:
Net income

3,504

17,765

17,505

3,925

17,447

26,922

9,140

8,115

-33,908

17,360

5,482

-4,159

5,154

20,215

6,355

3,337

8,282

21,910

11,932

3,641

9,884

22,417

12,170

7,429

7,297

23,415

12,654

8,179

8,100

34,853

8,154

6,761

10,741

16,788

4,588

511

Adjustments to reconcile net income/(loss) to net cash (used in)/provided by operating activities:
Depreciation and amortization

4,493

3,951

4,065

3,872

4,258

3,412

3,112

3,383

3,615

3,833

3,124

2,885

2,987

2,832

2,787

2,901

3,718

3,307

3,150

2,981

3,274

3,098

3,075

3,022

3,540

2,924

3,013

2,756

2,572

2,344

2,641

3,051

2,617

2,891

2,957

2,943

Transactional losses/(gains)

-1,148

134

-675

232

-142

154

-529

242

152

415

-268

712

622

-738

-1,814

-111

566

644

404

774

-2,630

1,214

20

-1,097

-1,712

99

-30

240

-

-

-

-

-

-

-

-

Provision for inventories and accounts receivable

526

1,341

754

531

2,677

1,120

630

483

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Write-down of inventories

-

-

-

-

-

-

-

-

-

1,044

527

359

-

1,100

508

359

1,297

1,013

468

330

591

1,051

570

302

3,715

1,180

451

240

844

935

529

313

-

-

-

-

Deferred income taxes

-10,814

4,047

2,281

134

3,850

5,175

810

1,553

258

-710

-73

64

3,983

-88

-73

-69

2,496

-303

-93

-283

-6,527

348

18

-155

-3,297

-1,769

1,037

-140

-2,927

19,723

-681

46

8,753

57

6

-125

Gain on sale of asset held for sale

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1,526

-

-

-

-

-

-

-

-

Stock-based compensation

1,715

1,576

1,444

1,638

1,755

1,464

1,609

1,214

1,230

1,211

1,190

1,243

1,618

1,637

1,617

2,409

1,627

1,396

1,580

1,520

1,618

1,523

1,432

1,180

1,088

1,074

1,053

572

823

820

764

481

383

441

437

414

Excess tax expense / (benefit) from stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-63

0

42

0

66

346

858

332

118

115

350

-

-

-

-

-

-

-

-

Operating efficiency initiatives and other items

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,326

0

0

2,670

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cost savings initiatives

-

-

-

-

-

-

-

-

150

7,018

85

6,334

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

-1,038

329

305

-199

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in assets and liabilities:
Trade receivables

-58,567

41,461

8,631

2,567

-45,114

43,501

4,696

-443

-52,889

51,908

10,760

-493

-63,264

58,772

-1,989

3,603

-50,859

44,021

7,877

-685

-52,021

38,905

14,358

8,092

-51,409

45,088

7,820

5,805

-43,618

44,893

172

-681

-29,490

25,588

7,803

-815

Inventories

-32,515

585

22,723

14,756

-21,650

469

13,867

11,548

-21,186

-4,212

10,821

7,953

-15,099

-13,477

9,847

11,287

-12,050

-6,765

7,743

14,205

-13,308

-6,373

14,124

1,034

6,290

-5,192

7,834

10,145

-6,387

-4,398

20,413

-7,257

-6,292

-8,299

-684

-3,877

Other current assets

-3,116

-1,282

-445

4,134

-3,221

-11,712

2,975

6,583

5,471

-3,884

-1,596

3,833

1,028

-6,811

327

4,944

-1,778

-1,131

-3,858

3,959

3,536

1,231

-4,219

2,775

8,457

-3,741

-261

686

2,684

4,167

1,180

-2,699

-1,045

-1,564

-5,308

1,097

Accounts payable

542

-16,995

13,707

-896

-11,891

7,018

5,265

5,690

-4,340

-6,768

11,257

-4,155

4,739

-3,334

-1,446

-360

-1,668

-1,887

6,408

-2,079

-2,221

-7,222

12,314

-8,228

-2,851

5,195

6,682

2,555

-7,898

4,236

2,082

-10,148

7,328

4,892

684

-1,121

Accrued liabilities

-24,215

18,824

-847

1,294

-19,553

13,563

3,577

5,036

-18,712

17,385

4,892

-3,981

-12,648

14,088

2,182

-3,378

-18,313

12,972

1,203

4,044

-9,494

10,275

3,587

-5,950

-5,752

10,031

6,276

-14,726

-14,092

19,120

6,345

-14,526

-3,165

10,341

2,754

-2,197

Accrued payroll and benefits

-3,090

1,991

137

-11,507

2,789

7,541

1,872

-8,351

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income taxes payable

-11,800

6,330

2,171

-2,094

-261

1,439

2,352

1,722

-2,271

3,463

-290

-2,800

-1,562

3,475

1,203

-5,595

120

5,217

-169

-5,914

-6,800

10,976

-1,349

1,473

-8,509

10,210

3,850

1,503

-11,188

9,919

1,954

476

-545

1,157

42

-934

Other non-current assets

3,038

-1,306

-212

878

179

-2,219

2,307

-988

1,231

2,149

1,761

1,489

2,446

260

1,512

3,351

-1,953

-556

-996

1,641

289

688

1,500

1,477

1,392

799

1,733

1,828

647

810

3,074

-1,419

655

-185

-128

477

Other non-current liabilities

2,854

-2,791

320

124

-267

-467

3,320

-1,417

2,887

1,716

1,670

1,278

1,781

115

1,355

2,248

-1,662

-415

-57

1,286

177

989

853

1,703

186

-270

1,914

1,101

1,203

851

-31

1,209

478

-552

-255

745

Net cash (used in) operating activities

-

-

-

-

-

-

-

-

-

-

-

-16,554

-

3,492

6,751

-21,084

64,319

7,666

13,748

-11,174

58,247

7,028

6,374

-12,053

-

-

-

-

-

-

-

-

-

-

8,771

3,604

Net cash (used in) operating activities from discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1

-19

Net cash provided by operating activities

76,640

-11,976

-6,979

-25,615

59,324

22,715

6,751

-2,620

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-17,780

-

7,883

22,300

-24,393

53,326

20,381

8,770

3,585

Cash flows from investing activities:
Capital expenditures

2,690

3,075

4,744

2,204

2,429

3,146

3,374

1,686

2,235

1,570

1,608

397

2,073

2,051

1,258

538

2,243

2,159

2,207

1,461

3,647

3,191

2,771

1,523

4,812

1,689

3,737

6,469

9,454

4,078

1,609

837

3,635

1,351

1,562

1,622

Trademarks and other intangibles

61

95

36

63

362

-87

49

168

56

37

423

40

32

33

37

226

457

55

44

94

43

43

12

20

60

61

78

86

-

-

-

-

24

88

67

24

Restricted cash deposits

-

-

-

-

-

-

-

-

-

-

-

-

0

0

86

1,070

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Short-term investment

-

-

-

-

-

-

-

-

-

-

-

-

1

-3

-2

156

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from available-for-sale securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

2,196

-

-

-

-

-

-

-

-

Net cash used in investing activities

-3,392

-2,928

-4,780

-2,267

-7,633

-96,099

-3,423

-1,854

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-4,359

-

-4,219

-1,719

-837

-3,659

-1,439

-464

-1,646

Net cash (used in) investing activities from discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Net cash (used in) investing activities

-

-

-

-

-

-

-

-

-

-

-

-437

-

-2,081

-1,379

-1,990

-3,135

-2,214

-2,251

-1,555

-3,690

-4,434

31,260

-1,543

-

-

-

-

-

-

-

-

-

-

-464

-1,646

Cash flows from financing activities:
Proceeds from bank borrowings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

25,000

25,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of bank borrowings

-

-

-

-

0

0

0

25,000

-

-

-

-

8,000

0

0

5,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Stock awards and options exercised and other changes

-17

-15

0

-1,234

105

38

1,720

3,105

467

107

-41

-692

960

-8

-44

-1,204

202

262

24

-513

0

183

1,432

-1,324

-56

359

345

-953

-120

1,037

208

450

792

387

265

-71

Excess tax (expense) / benefit from stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-63

0

42

0

66

346

858

332

118

115

350

-

-

-

-

-

-

-

-

Stock repurchase

0

0

1,583

2,616

3,487

1,874

871

1,186

627

1,349

627

1,028

601

405

1,915

943

2,816

6,803

16,975

22,154

13,232

5,466

2,372

5,312

3,038

4,140

2,843

467

-

-

-

-

-

-

-

-

Dividends paid

4,604

4,600

4,605

4,591

4,614

4,626

4,625

4,604

2,981

2,986

2,985

2,982

2,979

2,981

2,987

2,983

2,532

2,541

2,603

2,636

2,513

2,532

2,536

2,523

2,033

2,055

1,277

1,272

20,339

1,262

13,827

1,256

748

746

745

746

Net cash (used in)/provided by financing activities

-4,621

-4,615

-6,188

-8,441

-8,685

43,834

-3,776

-27,685

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-2,342

-

-225

-13,853

-806

258

-359

-607

-817

Net cash (used in) financing activities from discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Net cash (used in) financing activities

-

-

-

-

-

-

-

-

-

-

-

-4,702

-

-4,714

-1,946

-10,130

-9,392

-9,484

-4,554

-261

-16,681

-8,068

-3,130

-8,301

-

-

-

-

-

-

-

-

-

-

-607

-817

Effect of exchange rate changes on cash, cash equivalents and restricted cash

1,234

658

2,138

-2,889

4,185

-3,365

-928

-5,693

5,771

-1,694

5,948

-992

253

-2,734

-1,540

8,925

-4,784

-2,800

-4,759

-1,034

4,039

-6,238

-2,682

2,065

-621

2,287

-78

-1,924

3,064

5,036

-9,140

2,585

-5,752

-9,336

11,826

5,118

Net decrease in cash, cash equivalents and restricted cash

69,861

-18,861

-15,809

-39,212

47,191

-32,915

-1,376

-37,852

59,327

-6,933

-71,177

-22,685

56,521

-6,037

1,886

-24,279

47,008

-6,832

2,184

-14,024

41,915

-11,712

31,822

-19,832

-5,487

11,630

10,032

-26,405

3,076

8,475

-2,412

-23,451

44,173

9,247

19,525

6,240