Natural grocers by vitamin cottage, inc. (NGVC)
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'11
Operating activities:
Net income

9,718

1,868

1,361

1,998

3,860

2,197

2,085

1,991

3,404

5,181

1,236

598

2,996

2,061

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,680

3,577

3,748

-

4,345

5,403

3,564

3,188

3,364

3,999

2,922

-

-

-

-

899

2,539

2,777

1,259

Adjustments to reconcile net income to net cash provided by operating activities:
Net income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,886

3,217

2,221

-

-

-

-

Depreciation and amortization

7,888

7,707

7,194

7,207

7,290

7,286

7,261

7,344

7,410

7,415

7,546

7,525

7,319

7,121

6,916

6,380

6,192

6,045

5,805

5,402

5,149

4,981

4,656

4,502

4,116

3,938

3,807

3,464

3,233

2,992

2,720

2,539

2,403

2,285

Gain on disposal of property and equipment

-

-1

-27

-7

206

-41

-

-5

76

-48

0

21

0

0

7

-2

0

-2

-3

-57

0

4

-

-

-

-

-33

-12

1

1

-

-

-

-

Share-based compensation

273

279

265

257

264

399

263

185

202

160

154

190

197

217

217

210

220

232

175

101

116

181

130

139

133

130

689

-130

26

17

-

-

-

-

Excess tax benefit from share-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3

-

-

-

0

-73

12

453

7

-

-

-

-

-

-

-

-

Deferred income tax expense (benefit)

51

424

5,373

-854

-282

-264

-2,234

433

275

-4,446

941

-127

-403

-170

1,217

974

1,235

3,545

-328

2,425

-903

-564

-472

-277

-652

215

1,230

570

1,288

-636

1,915

257

23

475

Non-cash interest expense

3

3

3

4

3

3

1

5

3

3

12

-6

4

2

3

3

3

4

3

4

4

4

4

4

4

7

8

8

9

22

7

7

9

12

Interest accrued on investments and amortization of premium

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-10

1

-12

-3

-11

-1

-

-

-

-

Other amortization

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

9

17

17

16

16

16

Changes in operating assets and liabilities
Accounts receivable, net

913

-378

1,097

-528

-405

151

-175

-802

1,215

-383

1,562

96

570

-1,128

1,154

323

163

-469

-95

498

523

-496

440

-95

103

-703

420

398

-517

245

-452

213

233

-277

Merchandise inventory

-9,734

1,966

87

757

138

969

-3,020

374

5,451

-2,190

748

350

4,527

1,657

-38

3,849

3,237

4,464

5,055

5,036

2,918

2,702

2,364

2,927

4,518

3,100

2,099

836

4,137

856

3,484

447

2,969

822

Prepaid expenses and other assets

112

371

-472

527

-436

339

-796

551

657

-22

1,920

543

-19

-1,395

-1,867

671

1,597

141

-80

45

240

328

-258

-58

647

334

88

-386

159

34

-566

523

254

-41

Accounts receivable - leasehold incentives

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-508

Income tax receivable

-4,931

-29

4,876

233

246

-181

139

0

-731

-351

-

-

-

0

-

-

-

-

-

-

-

-

0

-253

216

-575

-

-

-

-

212

-41

-1,550

-110

Operating lease asset

-7,522

-7,451

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating lease liability

-7,660

-7,625

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable

10,815

-669

257

-3,702

8,869

-4,400

1,086

-3,422

7,745

-3,564

110

2,534

4,866

-286

-95

-2,281

3,506

2,184

4,863

-106

5,993

2,141

-1,618

1,438

6,343

-961

4,083

-942

4,347

-3,008

3,885

-585

3,704

-145

Accrued expenses

631

2,971

-141

1,869

-4,257

3,740

177

2,191

-1,737

3,013

-2,067

2,405

-2,744

3,927

-982

-1,382

-1,691

-3,290

2,938

-2,979

5,197

-1,308

4,438

638

1,142

734

1,266

-1,055

396

1,676

-137

432

2,212

53

Deferred compensation

-

-

0

0

-700

12

11

12

-690

124

121

120

117

116

113

112

110

108

107

104

103

0

-

-

-

-

-

-

-

-

-

-

-

-

Deferred rent and leasehold incentives

-

-

-44

-95

-232

-209

-553

-53

825

89

437

1,184

1,076

240

272

866

360

1,054

204

1,118

42

445

420

552

1,180

489

964

325

-192

174

-

-

-

-

Net cash provided by operating activities

42,880

10,480

9,087

5,702

15,066

7,527

12,557

8,568

10,769

10,969

4,992

13,413

8,350

14,094

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred rent and lease incentives

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

862

261

Net cash provided by operating activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,721

8,518

9,493

-

4,892

17,423

6,906

8,274

7,827

10,338

5,310

10,572

4,452

8,353

2,340

7,162

4,108

9,595

4,334

Investing activities:
Acquisition of property and equipment

7,777

10,982

9,213

3,173

6,133

11,511

7,044

6,113

5,611

4,919

4,391

13,150

10,541

13,057

14,457

15,638

13,484

10,180

11,944

8,849

8,385

7,572

9,592

9,067

10,169

7,684

13,845

8,196

8,842

8,825

11,747

5,307

3,870

4,332

Acquisition of other intangibles

391

1,008

667

1,785

183

68

0

1

23

6

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of property and equipment

-

-

-

-

-

-

0

0

-7

41

147

21

0

2,564

7

0

0

12

1

8

0

4

-

-

-

-

5,002

1

1

1

-

-

-

-

Proceeds from property insurance settlements

10

17

0

10

3

19

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment for acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

5,601

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-8,158

-11,973

-9,877

-4,907

-5,521

-11,560

-7,028

-5,990

-5,641

-4,884

-4,336

-13,129

-10,541

-10,493

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of available-for-sale securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

95

245

181

-

-

-

-

Decrease in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-500

-

-

-

-

-

-

-

-

Increase in split-dollar life insurance premiums

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

80

1

Net cash used in investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-15,638

-13,484

-10,168

-

-8,841

-8,385

-13,169

-9,592

-8,972

-9,124

-7,184

-8,268

-8,105

-9,246

-9,005

-13,486

-3,782

-3,954

-4,334

Financing activities:
Borrowings under credit facility

113,000

113,000

108,000

112,700

90,900

94,300

96,100

103,900

88,500

87,500

67,415

82,000

75,000

67,350

59,542

27,400

51,630

96,032

87,455

48,633

42,200

24,590

-

-

-

-

-

-

-

-

-

-

-

2,553

Repayments under credit facility

121,292

110,400

112,400

112,800

93,400

94,800

99,200

107,200

93,500

91,300

66,500

81,000

75,599

67,701

50,941

17,150

43,053

96,032

87,455

48,633

45,282

21,508

-

-

-

-

-

-

-

-

25,622

-219

1,708

125

Repurchases of common stock

-

-

-

-

-

-

0

0

0

581

0

261

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayments under notes payable, related party

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

154

64

64

505

141

139

137

Capital and financing lease obligation payments

-

-

214

204

187

175

157

145

139

132

127

121

118

113

133

91

108

91

78

53

61

55

47

47

45

43

50

38

27

6

-

-

-

-

Finance lease obligation payments

563

519

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Dividend to shareholders

1,575

1,573

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loan fees paid

0

25

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

18

0

0

0

3

Excess tax benefit from share-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3

-

-

-

0

-73

12

453

7

-

-

-

-

-

-

-

-

Equity issuance costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

268

-

-

-

-

Payments on withholding tax for restricted stock unit vesting

75

47

41

115

111

154

78

0

7

4

46

13

0

12

109

0

0

10

80

0

0

22

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in financing activities

-10,505

436

-4,655

-419

-2,798

-829

-3,335

-3,445

-5,146

-4,517

742

605

-717

-476

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net increase in cash and cash equivalents

24,217

-1,057

-5,445

376

6,747

-4,862

2,194

-867

-18

1,568

1,398

889

-2,908

3,125

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash (used in) provided by financing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

10,020

8,424

-98

-

-53

-3,657

3,005

-203

-35

378

-36

176

-192

120

-356

20,313

-479

-4,852

2,287

Net increase (decrease) in cash and cash equivalents

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-2,897

3,458

-773

-

-4,002

5,381

-3,258

-1,521

-1,180

1,592

-1,910

2,480

-3,845

-773

-7,021

13,990

-153

788

2,287

Supplemental disclosures of cash flow information:
Cash paid for interest

165

163

184

164

215

224

224

223

214

217

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash paid for interest

-

-

-

-

-

-

-

-

-

-

-

-

-

121

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

162

173

Cash paid for interest on revolving credit facility

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

78

43

40

-

8

19

8

-

-

-

-

0

1

3

3

-

-

-

-

Cash paid for interest on finance or capital and financing lease obligations, net of capitalized interest of $68 and $59, respectively

408

373

979

1,082

1,063

1,024

941

922

900

848

816

673

699

784

740

650

625

622

700

708

690

711

333

698

699

693

816

601

390

229

-

-

-

-

Income taxes paid

0

10

1

1,771

2,942

20

1,450

418

71

19

122

1,152

1,371

11

8

350

4,794

1,218

1,940

1,155

829

4,270

12

94

3,634

22

1,027

941

1,847

101

-

-

-

-

Supplemental disclosures of non-cash investing and financing activities:
Acquisition of property and equipment not yet paid

-2,267

6,015

1,881

3,180

-1,742

2,970

1,808

1,069

655

1,722

-751

-5,934

2,285

7,243

-2,340

3,146

-1,311

7,342

62

4,009

-1,110

3,468

-265

184

-305

3,646

-2,013

1,471

1,911

2,176

2,948

665

787

605

Property acquired through capital and financing lease obligations

-

-

2,505

4,809

154

4,688

81

3,776

0

4,428

1,273

226

0

0

-

-

-

-

-55

2,472

0

3,355

2,286

0

0

14

3,849

0

204

10,319

-

-

-

-

Property acquired through operating lease obligations

1,792

6,378

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Property acquired through finance lease obligations

3,910

1,322

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-