National CineMedia, Inc. NCMI Cash Flow

National cinemedia, inc. (NCMI)

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:
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest
-8,200	45,500	22,800	21,000	-2,600	40,900	25,700	17,100	-3,500	69,500	36,200	14,600	-5,800	55,800	21,700	25,500	-8,500	29,600	26,900	33,300	-30,200	32,900	19,400	17,900	-4,600	53,600	42,300	32,000	1,900	16,500	49,000	-900	700	24,800	45,900	28,300	1,600
Adjustments to reconcile consolidated net loss to net cash provided by operating activities:
Deferred income tax benefit
-400	6,100	4,500	2,200	-700	6,700	100	15,800	700	179,400	3,000	1,500	-2,000	12,900	1,700	-8,200	10,300	8,100	4,700	5,400	-4,400	400	3,000	3,000	6,200	3,200	3,000	3,000	5,400	20,200	2,000	5,100	6,200	3,000	1,200	2,600	5,700
Depreciation expense
3,200	-	-	-	3,300	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation expense
-	-	-	-	-	3,600	3,100	3,100	2,800	-17,200	9,400	9,200	9,600	9,300	8,900	8,900	8,700	8,000	8,000	8,200	8,000	8,200	8,600	7,800	7,800	7,800	7,200	6,200	5,400	5,500	5,000	5,000	4,900	4,800	5,100	4,300	4,600
Amortization of Intangible Assets
-	-	-	-	-	6,800	6,900	6,900	6,700	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of intangibles recorded for network theater screen leases
6,100	6,000	6,800	7,000	6,900	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash share-based compensation
200	1,300	1,400	2,000	800	1,600	1,300	2,100	2,800	2,900	2,800	2,800	2,700	4,600	3,400	3,700	6,600	5,100	3,800	2,900	3,000	2,600	900	2,200	2,000	-300	2,100	2,000	2,100	1,400	2,000	2,700	2,900	3,700	900	3,200	4,000
Net unrealized gain on hedging transactions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	800	700	800	700	-	-1,900	-2,000	1,200
Cost-method Investments, Other than Temporary Impairment
-	-	-	-	-	0	0	0	400	0	0	1,700	1,400	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefit from share-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	100	100	0	0	-200	-	-	-	-	0	0	0	100	0	0	100	100
Accretion of interest on the discounted payable to founding members under tax receivable agreement
-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,400	3,400	3,600	8,800	3,500	3,500	3,600	3,800	3,500	3,500	3,800	3,700	3,400	3,400	3,400	-1,100	4,100	4,000	3,000	4,200	2,400	4,100	4,400
Amortization of terminated derivatives
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	1,600	2,400	2,600	2,500	2,500	2,500	2,600	2,700	2,500	-	-	-	-	-	-	-	-
Amortization of debt issuance costs
600	700	600	700	600	600	700	600	700	600	700	600	700	600	700	600	700	700	600	700	600	700	700	700	700	700	700	800	600	300	700	600	800	600	900	400	400
Gain (Loss) on Extinguishment of Debt
0	-	-	-	300	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash loss on re-measurement of the payable to founding members under the tax receivable agreement
-200	-100	600	-900	-700	-800	-3,200	7,700	100	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
1,300	100	-100	100	900	-400	1,000	-100	0	100	0	100	100	-100	0	-100	200	-400	-100	-700	100	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other cash flows from operating activities
8,500	-	5,700	2,500	8,100	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net unrealized loss (gain) on hedging activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	400	-	-	-	-
Changes in operating assets and liabilities:
Receivables, net
-60,500	49,200	-3,300	19,300	-44,300	35,800	-11,600	10,600	-45,500	42,200	19,200	6,600	-67,900	29,500	4,600	29,100	-49,700	26,300	-2,800	47,200	-35,200	20,500	-12,300	24,100	-35,000	12,200	-1,900	46,600	-34,900	-27,500	34,700	16,700	-23,400	1,700	7,500	29,000	-40,100
Accounts payable and accrued expenses
-11,100	6,600	5,900	2,600	-11,500	5,200	5,000	400	-5,800	3,400	2,900	7,600	-12,200	3,800	1,800	-400	-9,300	3,900	5,700	-1,500	-300	-4,200	6,700	4,200	-17,000	9,800	2,000	4,000	-9,200	-800	3,900	14,200	-13,300	7,300	2,700	10,800	-14,000
Amounts due to/from founding members, net
800	2,300	-900	400	300	400	-1,100	500	100	700	400	-400	-400	600	-1,000	400	-100	900	-500	600	400	400	-400	300	2,700	-100	-1,500	1,200	1,300	-1,700	-100	2,600	-1,100	-1,200	2,000	-600	-1,000
Deferred revenue
-200	-2,800	-300	3,900	-500	800	-3,700	4,100	-1,000	1,500	-2,600	1,000	-3,000	-5,100	1,000	4,300	-200	1,500	-4,700	3,900	1,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other, net
800	-	-300	400	2,500	-	-700	-1,100	-200	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	100	-	-	-7,100	-200
Payment to founding members under tax receivable agreement
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	23,500	3,900	0	0	17,200	2,000	0	0	25,100	20,200	0	0	-10,100	36,400	0	0	-18,200	0	0	-900	-17,100
Other, net
-	-	-	-	-	-	-	-	-	2,600	3,500	-2,400	-1,800	300	500	12,300	-14,100	9,300	800	-600	-800	4,400	-3,200	1,300	-2,300	-3,300	5,800	5,900	-9,600	600	4,800	-8,300	-11,200	1,900	7,200	2,900	-10,500
Other non-cash operating activities
1,300	100	-100	100	900	-400	1,000	-100	0	100	0	100	100	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Cash Provided by (Used in) Operating Activities, Continuing Operations
58,100	30,000	54,300	13,300	46,000	31,500	52,600	16,700	49,500	34,900	35,400	11,600	57,000	42,600	45,000	22,200	23,700	43,400	51,700	9,900	300	31,000	50,300	24,700	11,900	39,200	70,000	15,300	28,600	49,400	37,300	-2,600	-2,500	52,800	56,800	35,100	17,100
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment
3,300	4,200	3,000	3,900	2,900	4,200	2,800	3,700	3,500	3,900	1,900	2,900	2,900	3,900	2,400	2,700	3,900	4,600	3,200	2,800	2,000	1,800	1,700	3,100	2,100	2,200	1,900	3,300	2,700	2,800	2,700	2,500	2,400	4,500	3,300	3,600	2,100
Purchases of marketable securities
7,200	14,600	4,500	2,500	2,900	5,900	17,000	6,000	7,900	12,700	0	4,700	17,000	9,700	19,100	8,800	17,100	13,000	16,800	22,400	18,400	17,700	28,900	32,900	37,300	38,100	45,100	35,000	16,800	22,600	11,100	11,500	14,800	20,200	10,100	4,900	16,000
Proceeds from sale and maturities of marketable securities
11,300	6,200	6,900	2,000	19,400	11,300	8,900	10,000	2,000	2,500	17,900	18,500	12,000	12,300	17,700	21,200	11,600	16,600	16,600	29,300	20,600	10,100	29,400	34,800	46,500	24,300	27,600	20,100	26,100	10,500	15,400	11,900	20,200	2,000	5,000	11,000	9,500
Payment from founding members for intangible assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	200	-	-	-	0
Payments to Acquire Intangible Assets
-	-	-	-	-	-	-	-	-	400	1,400	100	200	-	-	-	-	700	1,100	0	900	0	2,500	0	500	0	5,000	3,400	500	0	5,600	0	1,600	-	-	-	0
Proceeds from notes receivable - founding members (including payments from related parties of $0.0 and $1.4, respectively)
0	4,200	0	0	1,400	2,800	0	0	0	4,200	0	0	1,400	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by (used in) investing activities
800	-8,400	-600	-4,400	15,000	3,900	-10,900	300	-9,400	-10,000	14,400	10,800	-6,700	800	-4,300	8,600	-9,400	2,500	-4,500	4,100	-700	-5,200	-3,700	-1,200	6,600	-16,000	-24,400	-21,600	6,100	-14,900	-4,000	-2,100	1,600	-23,900	-23,100	2,500	-8,600
CASH FLOWS FROM FINANCING ACTIVITIES:
Payment of dividends
15,500	13,200	13,200	13,200	14,000	13,200	13,100	13,100	15,000	16,600	13,400	13,400	15,300	13,200	13,200	13,200	15,000	12,900	13,000	13,100	13,300	12,900	12,900	12,900	42,300	12,800	12,200	12,100	12,100	12,000	11,900	12,000	12,800	11,900	11,900	10,700	10,800
Proceeds from revolving credit facility
210,000	69,000	29,000	9,000	62,000	54,000	33,000	48,200	58,000	20,000	10,000	0	50,000	21,000	12,000	22,000	71,000	49,000	53,000	17,000	96,000	46,000	29,000	14,000	49,000	15,000	16,000	10,000	18,000	55,000	25,000	403,000	63,000	37,000	244,000	9,000	45,000
Repayments of revolving credit facility
82,000	36,000	50,000	19,000	52,000	41,000	49,200	51,000	37,000	8,000	20,000	20,000	35,000	9,000	81,000	35,000	52,000	49,000	52,000	20,000	50,000	49,000	33,000	22,000	32,000	9,000	16,000	5,000	18,000	26,000	14,000	385,000	36,000	16,900	230,100	27,000	43,200
Repayment of term loan facility
700	-	-	-	700	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of Senior Notes due 2026
0	700	600	-3,200	4,600	0	700	270,000	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of Senior Notes due 2028
-	-	-	-	-	-	7,200	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment of debt issuance costs
100	4,600	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds From Integration And Other Encumbered Theater Payments Made By Affiliates, Financing Activities
-	-	-	-	-	5,500	5,700	2,100	9,400	6,800	4,600	500	1,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Founding member integration payments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	100	900	-	800	300	800	600	600	200	700	-	-	-	-	-	-	-	-	0	600	200	1,100
Payments of Distributions to Affiliates
32,400	22,500	15,400	6,100	27,900	19,100	16,900	8,500	37,600	27,200	15,200	5,000	39,900	25,400	8,700	1,100	32,400	24,700	25,100	0	32,900	21,800	18,500	6,200	31,000	36,100	28,800	8,000	20,900	33,800	20,400	1,700	22,100	33,000	22,100	5,800	25,700
Excess tax benefit from share-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	100	100	0	0	-200	-	-	-	-	0	0	0	100	0	0	100	100
Proceeds from stock option exercises
-	-	-	-	-	-	-	-	-	0	0	0	600	100	100	0	300	100	100	700	400	0	0	300	500	3,800	9,100	6,000	1,400	100	200	100	1,800	0	100	2,300	1,800
Repurchase of stock for restricted stock tax withholding
900	0	0	100	1,200	200	100	0	2,100	100	0	100	4,500	100	100	100	4,600	100	100	0	1,200	100	0	0	1,300	0	0	0	1,700	100	0	0	2,200	-100	0	0	400
Net cash used in financing activities
78,400	-12,000	-50,200	-30,100	-38,400	-21,300	-48,800	-28,600	-24,300	-25,100	-34,000	-38,000	-43,100	-26,000	-52,500	-27,600	-31,800	-36,900	-36,300	-15,100	-100	-37,000	-35,400	-26,700	-56,600	-38,300	-31,000	-12,300	-33,300	-22,300	-21,200	-4,000	-8,200	-24,700	-28,500	-31,900	-32,100
CHANGE IN CASH AND CASH EQUIVALENTS:
137,300	9,600	3,500	-21,200	22,600	14,100	-7,100	-11,600	15,800	-200	15,800	-15,600	7,200	17,400	-11,800	3,200	-17,500	9,000	10,900	-1,100	-500	-11,200	11,200	-3,200	-38,100	-15,100	14,600	-18,600	1,400	12,200	12,100	-8,700	-9,100	4,200	5,200	5,700	-23,600
Supplemental disclosure of non-cash financing and investing activity:
Purchase of an intangible asset with NCM LLC equity
10,500	0	0	0	7,600	0	0	0	15,900	0	0	0	201,800	0	0	0	21,100	69,300	0	0	31,400	0	0	0	16,400	61,400	0	91,200	69,000	-	-	-	-	-	-	-	-
Accrued distributions to founding members (including accrued distributions to related parties of $4.3 and $6.1, respectively)
4,400	9,900	7,100	9,300	6,100	8,800	2,200	8,500	8,400	10,400	12,000	10,200	5,000	14,600	16,500	7,700	1,100	-	-	-	-	11,100	3,400	12,200	6,200	-5,100	7,300	20,800	8,000	-	-	-	-	-	-	-	-
Accrued integration and other encumbered theater payments due from founding members (including accrued payments due from related parties of $0.0 and $0.1, respectively)
1,200	3,200	-100	3,100	2,200	2,700	-200	3,400	1,900	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
(Decrease) increase in dividends not requiring cash in the period
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-300	-700	-100	-	200	200	-900	-	400	300	400	-	-	-	-	-	-	-	-
Purchase of an intangible asset with equity (equity returned)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	10,100	-	0	0	-5,500
Purchase of subsidiary equity with NCM, Inc. equity
-	-	-	-	-	-	-	-	-	-	-	-	-	-2,000	0	300	1,700	1,400	0	100	1,600	-	-	-	-	-	-	-	-	0	0	0	600	-	-	-	0
(Decrease) increase in dividend equivalent accrual not requiring cash in the period
-100	-700	400	300	100	-100	-1,800	300	200	300	300	-1,700	100	700	1,100	-2,600	1,100	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Supplemental disclosure of cash flow information:
Cash paid for interest
10,400	-	-	-	10,900	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid for interest
-	-	-	-	-	15,900	11,200	15,400	11,600	15,000	10,200	14,900	9,800	14,500	12,500	14,800	10,700	14,500	10,400	14,500	10,300	15,300	10,100	14,300	10,200	14,400	10,100	13,600	11,200	17,000	-2,500	18,600	17,600	9,200	9,200	10,100	10,700
Cash paid for income taxes, net of refunds
300	-200	200	100	0	0	200	0	100	-3,200	1,000	200	300	0	100	300	100	-2,900	0	0	200	1,200	-13,000	13,600	-7,000	-	-	-	-	100	500	100	4,500	-300	0	300	4,000