National CineMedia, Inc. NCMI Cash Flow

National cinemedia, inc. (NCMI)

CashFlow / TTM

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
81,100	86,700	82,100	85,000	81,100	80,200	108,800	119,300	116,800	114,500	100,800	86,300	97,200	94,500	68,300	73,500	81,300	59,600	62,900	55,400	40,000	65,600	86,300	109,200	123,300	129,800	92,700	99,400	66,500	65,300	73,600	70,500	99,700	100,600	0	0	0
Adjustments to reconcile consolidated net loss to net cash provided by operating activities:
Deferred income tax benefit
12,400	12,100	12,700	8,300	21,900	23,300	196,000	198,900	184,600	181,900	15,400	14,100	4,400	16,700	11,900	14,900	28,500	13,800	6,100	4,400	2,000	12,600	15,400	15,400	15,400	14,600	31,600	30,600	32,700	33,500	16,300	15,500	13,000	12,500	0	0	0
Depreciation expense
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation expense
-	-	-	-	-	12,600	-8,200	-1,900	4,200	11,000	37,500	37,000	36,700	35,800	34,500	33,600	32,900	32,200	32,400	33,000	32,600	32,400	32,000	30,600	29,000	26,600	24,300	22,100	20,900	20,400	19,700	19,800	19,100	18,800	0	0	0
Amortization of Intangible Assets
-	-	-	-	-	27,300	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of intangibles recorded for network theater screen leases
25,900	26,700	20,700	13,900	6,900	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash share-based compensation
4,900	5,500	5,800	5,700	5,800	7,800	9,100	10,600	11,300	11,200	12,900	13,500	14,400	18,300	18,800	19,200	18,400	14,800	12,300	9,400	8,700	7,700	4,800	6,000	5,800	5,900	7,600	7,500	8,200	9,000	11,300	10,200	10,700	11,800	0	0	0
Net unrealized gain on hedging transactions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,000	0	0	0	-	0	0	0
Cost-method Investments, Other than Temporary Impairment
-	-	-	-	-	400	400	400	2,100	3,100	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefit from share-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	100	200	200	200	-100	0	0	0	-	-	-	-	100	100	100	200	200	0	0	0
Accretion of interest on the discounted payable to founding members under tax receivable agreement
-	-	-	-	-	-	-	-	-	-	-	-	-	-	19,200	19,300	19,400	19,400	14,400	14,400	14,400	14,600	14,500	14,400	14,300	13,900	9,100	9,800	10,400	10,000	15,300	13,600	13,700	15,100	0	0	0
Amortization of terminated derivatives
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,600	4,000	6,600	9,100	10,000	10,100	10,100	10,300	10,300	0	0	0	-	-	-	-	-	-	-	-
Amortization of debt issuance costs
2,600	2,600	2,500	2,600	2,500	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,700	2,600	2,700	2,600	2,600	2,700	2,700	2,800	2,800	2,800	2,900	2,800	2,400	2,400	2,200	2,400	2,700	2,900	2,700	2,300	0	0	0
Gain (Loss) on Extinguishment of Debt
0	-	-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash loss on re-measurement of the payable to founding members under the tax receivable agreement
-600	-1,100	-1,800	-5,600	3,000	3,800	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
1,400	1,000	500	1,600	1,400	500	1,000	0	200	300	100	100	-100	0	-300	-400	-1,000	-1,100	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other cash flows from operating activities
0	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net unrealized loss (gain) on hedging activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-
Changes in operating assets and liabilities:
Receivables, net
4,700	20,900	7,500	-800	-9,500	-10,700	-4,300	26,500	22,500	100	-12,600	-27,200	-4,700	13,500	10,300	2,900	21,000	35,500	29,700	20,200	-2,900	-2,700	-11,000	-600	21,900	22,000	-17,700	18,900	-11,000	500	29,700	2,500	14,800	-1,900	0	0	0
Accounts payable and accrued expenses
4,000	3,600	2,200	1,300	-900	4,800	3,000	900	8,100	1,700	2,100	1,000	-7,000	-4,100	-4,000	-100	-1,200	7,800	-300	700	6,400	-10,300	3,700	-1,000	-1,200	6,600	-4,000	-2,100	8,100	4,000	12,100	10,900	7,500	6,800	0	0	0
Amounts due to/from founding members, net
2,600	2,100	200	0	100	-100	200	1,700	800	300	200	-1,200	-400	-100	200	700	900	1,400	900	1,000	700	3,000	2,500	1,400	2,300	900	-700	700	2,100	-300	200	2,300	-900	-800	0	0	0
Deferred revenue
600	300	3,900	500	700	200	900	2,000	-1,100	-3,100	-9,700	-6,100	-2,800	0	6,600	900	500	1,700	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other, net
0	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	0	0
Payment to founding members under tax receivable agreement
-	-	-	-	-	-	-	-	-	-	-	-	-	-	27,400	27,400	27,400	21,100	19,200	19,200	19,200	27,100	45,300	45,300	45,300	10,100	26,300	26,300	26,300	18,200	-18,200	-18,200	-19,100	-18,000	0	0	0
Other, net
-	-	-	-	-	-	-	-	-	1,900	-400	-3,400	11,300	-1,000	8,000	8,300	-4,600	8,700	3,800	-200	1,700	200	-7,500	1,500	6,100	-1,200	2,700	1,700	-12,500	-14,100	-12,800	-10,400	800	1,500	0	0	0
Other non-cash operating activities
1,400	1,000	500	1,600	1,400	500	1,000	0	200	300	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Cash Provided by (Used in) Operating Activities, Continuing Operations
155,700	143,600	145,100	143,400	146,800	150,300	153,700	136,500	131,400	138,900	146,600	156,200	166,800	133,500	134,300	141,000	128,700	105,300	92,900	91,500	106,300	117,900	126,100	145,800	136,400	153,100	163,300	130,600	112,700	81,600	85,000	104,500	142,200	161,800	0	0	0
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment
14,400	14,000	14,000	13,800	13,600	14,200	13,900	13,000	12,200	11,600	11,600	12,100	11,900	12,900	13,600	14,400	14,500	12,600	9,800	8,300	8,600	8,700	9,100	9,300	9,500	10,100	10,700	11,500	10,700	10,400	12,100	12,700	13,800	13,500	0	0	0
Purchases of marketable securities
28,800	24,500	15,800	28,300	31,800	36,800	43,600	26,600	25,300	34,400	31,400	50,500	54,600	54,700	58,000	55,700	69,300	70,600	75,300	87,400	97,900	116,800	137,200	153,400	155,500	135,000	119,500	85,500	62,000	60,000	57,600	56,600	50,000	51,200	0	0	0
Proceeds from sale and maturities of marketable securities
26,400	34,500	39,600	41,600	49,600	32,200	23,400	32,400	40,900	50,900	60,700	60,500	63,200	62,800	67,100	66,000	74,100	83,100	76,600	89,400	94,900	120,800	135,000	133,200	118,500	98,100	84,300	72,100	63,900	58,000	49,500	39,100	38,200	27,500	0	0	0
Payment from founding members for intangible assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	200	0	0	0	-	-	-	0
Payments to Acquire Intangible Assets
-	-	-	-	-	-	-	-	-	2,100	0	0	0	-	-	-	-	2,700	2,000	3,400	3,400	3,000	3,000	5,500	8,900	8,900	8,900	9,500	6,100	7,200	0	0	0	-	-	-	0
Proceeds from notes receivable - founding members (including payments from related parties of $0.0 and $1.4, respectively)
4,200	5,600	4,200	4,200	4,200	2,800	4,200	4,200	4,200	5,600	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by (used in) investing activities
-12,600	1,600	13,900	3,600	8,300	-16,100	-30,000	-4,700	5,800	8,500	19,300	600	-1,600	-4,300	-2,600	-2,800	-7,300	1,400	-6,300	-5,500	-10,800	-3,500	-14,300	-35,000	-55,400	-55,900	-54,800	-34,400	-14,900	-19,400	-28,400	-47,500	-42,900	-53,100	0	0	0
CASH FLOWS FROM FINANCING ACTIVITIES:
Payment of dividends
55,100	53,600	53,600	53,500	53,400	54,400	57,800	58,100	58,400	58,700	55,300	55,100	54,900	54,600	54,300	54,100	54,000	52,300	52,300	52,200	52,000	81,000	80,900	80,200	79,400	49,200	48,400	48,100	48,000	48,700	48,600	48,600	47,300	45,300	0	0	0
Proceeds from revolving credit facility
317,000	169,000	154,000	158,000	197,200	193,200	159,200	136,200	88,000	80,000	81,000	83,000	105,000	126,000	154,000	195,000	190,000	215,000	212,000	188,000	185,000	138,000	107,000	94,000	90,000	59,000	99,000	108,000	501,000	546,000	528,000	747,000	353,000	335,000	0	0	0
Repayments of revolving credit facility
187,000	157,000	162,000	161,200	193,200	178,200	145,200	116,000	85,000	83,000	84,000	145,000	160,000	177,000	217,000	188,000	173,000	171,000	171,000	152,000	154,000	136,000	96,000	79,000	62,000	48,000	65,000	63,000	443,000	461,000	451,900	668,000	310,000	317,200	0	0	0
Repayment of term loan facility
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of Senior Notes due 2026
-1,900	2,700	2,000	2,100	275,300	270,700	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of Senior Notes due 2028
-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment of debt issuance costs
4,700	4,600	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds From Integration And Other Encumbered Theater Payments Made By Affiliates, Financing Activities
-	-	-	-	-	22,700	24,000	22,900	21,300	12,900	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Founding member integration payments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	2,700	-	2,500	2,300	2,200	2,100	0	0	0	-	-	-	-	-	-	-	-	1,900	0	0	0
Payments of Distributions to Affiliates
76,400	71,900	68,500	70,000	72,400	82,100	90,200	88,500	85,000	87,300	85,500	79,000	75,100	67,600	66,900	83,300	82,200	82,700	79,800	73,200	79,400	77,500	91,800	102,100	103,900	93,800	91,500	83,100	76,800	78,000	77,200	78,900	83,000	86,600	0	0	0
Excess tax benefit from share-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	100	200	200	200	-100	0	0	0	-	-	-	-	100	100	100	200	200	0	0	0
Proceeds from stock option exercises
-	-	-	-	-	-	-	-	-	600	700	800	800	500	500	500	1,200	1,300	1,200	1,100	700	800	4,600	13,700	19,400	20,300	16,600	7,700	1,800	2,200	2,100	2,000	4,200	4,200	0	0	0
Repurchase of stock for restricted stock tax withholding
1,000	1,300	1,500	1,600	1,500	2,400	2,300	2,200	2,300	4,700	4,700	4,800	4,800	4,900	4,900	4,900	4,800	1,400	1,400	1,300	1,300	1,400	1,300	1,300	1,300	1,700	1,800	1,800	1,800	2,300	2,100	2,100	2,100	300	0	0	0
Net cash used in financing activities
-13,900	-130,700	-140,000	-138,600	-137,100	-123,000	-126,800	-112,000	-121,400	-140,200	-141,100	-159,600	-149,200	-137,900	-148,800	-132,600	-120,100	-88,400	-88,500	-87,600	-99,200	-155,700	-157,000	-152,600	-138,200	-114,900	-98,900	-89,100	-80,800	-55,700	-58,100	-65,400	-93,300	-117,200	0	0	0
CHANGE IN CASH AND CASH EQUIVALENTS:
129,200	14,500	19,000	8,400	18,000	11,200	-3,100	19,800	15,800	7,200	24,800	-2,800	16,000	-8,700	-17,100	5,600	1,300	18,300	-1,900	-1,600	-3,700	-41,300	-45,200	-41,800	-57,200	-17,700	9,600	7,100	17,000	6,500	-1,500	-8,400	6,000	-8,500	0	0	0
Supplemental disclosure of non-cash financing and investing activity:
Purchase of an intangible asset with NCM LLC equity
10,500	7,600	7,600	7,600	7,600	15,900	15,900	15,900	15,900	201,800	201,800	201,800	201,800	21,100	90,400	90,400	90,400	100,700	31,400	31,400	31,400	16,400	77,800	77,800	169,000	221,600	0	0	0	-	-	-	-	-	-	-	-
Accrued distributions to founding members (including accrued distributions to related parties of $4.3 and $6.1, respectively)
30,700	32,400	31,300	26,400	25,600	27,900	29,500	39,300	41,000	37,600	41,800	46,300	43,800	39,900	0	0	0	-	-	-	-	32,900	16,700	20,600	29,200	31,000	0	0	0	-	-	-	-	-	-	-	-
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)
7,400	8,400	7,900	7,800	8,100	7,800	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
(Decrease) increase in dividends not requiring cash in the period
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-
Purchase of an intangible asset with equity (equity returned)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	0	0
Purchase of subsidiary equity with NCM, Inc. equity
-	-	-	-	-	-	-	-	-	-	-	-	-	0	3,400	3,400	3,200	3,100	0	0	0	-	-	-	-	-	-	-	-	600	0	0	0	-	-	-	0
(Decrease) increase in dividend equivalent accrual not requiring cash in the period
-100	100	700	-1,500	-1,500	-1,400	-1,000	1,100	-900	-1,000	-600	200	-700	300	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Supplemental disclosure of cash flow information:
Cash paid for interest
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid for interest
-	-	-	-	-	54,100	53,200	52,200	51,700	49,900	49,400	51,700	51,600	52,500	52,500	50,400	50,100	49,700	50,500	50,200	50,000	49,900	49,000	49,000	48,300	49,300	51,900	39,300	44,300	50,700	42,900	54,600	46,100	39,200	0	0	0
Cash paid for income taxes, net of refunds
400	100	300	300	200	300	-2,900	-2,100	-1,900	-1,700	1,500	600	700	500	-2,400	-2,500	-2,800	-2,700	1,400	-11,600	2,000	-5,200	0	0	0	-	-	-	-	5,200	4,800	4,300	4,500	4,000	0	0	0