Natural grocers by vitamin cottage, inc. (NGVC)
CashFlow / TTM
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

14,945

9,087

9,416

10,140

10,133

9,677

12,661

11,812

10,419

10,011

6,891

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

16,388

-

16,500

15,519

14,115

13,473

0

0

0

-

-

-

-

7,477

0

0

0

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

Depreciation and amortization

29,996

29,398

28,977

29,044

29,181

29,301

29,430

29,715

29,896

29,805

29,511

28,881

27,736

26,609

25,533

24,422

23,444

22,401

21,337

20,188

19,288

18,255

17,212

16,363

15,325

14,442

13,496

12,409

11,485

10,655

9,949

0

0

0

Gain on disposal of property and equipment

-

171

131

0

0

0

-

23

49

-27

21

28

5

5

3

-7

-62

-62

-56

0

0

0

-

-

-

-

-43

0

0

0

-

-

-

-

Share-based compensation

1,074

1,065

1,185

1,183

1,111

1,049

810

701

706

701

758

821

841

864

879

837

728

624

573

528

566

583

532

1,091

822

715

602

0

0

0

-

-

-

-

Excess tax benefit from share-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

392

399

0

0

0

-

-

-

-

-

-

-

-

Deferred income tax expense (benefit)

4,994

4,661

3,973

-3,634

-2,347

-1,790

-5,972

-2,797

-3,357

-4,035

241

517

1,618

3,256

6,971

5,426

6,877

4,739

630

486

-2,216

-1,965

-1,186

516

1,363

3,303

2,452

3,137

2,825

1,561

2,673

0

0

0

Non-cash interest expense

13

13

13

11

12

12

12

23

12

13

12

3

12

11

13

13

14

15

15

16

16

16

19

23

27

32

47

46

46

47

38

0

0

0

Interest accrued on investments and amortization of premium

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-9

-21

-24

-25

-27

0

0

0

-

-

-

-

Other amortization

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

26

43

60

68

68

0

0

0

Changes in operating assets and liabilities
Accounts receivable, net

1,104

-214

315

-957

-1,231

389

-145

1,592

2,490

1,845

1,100

692

919

512

1,171

-78

97

457

430

965

372

-48

-255

-275

218

-402

546

-326

-511

239

-283

0

0

0

Merchandise inventory

-6,924

2,948

1,951

-1,156

-1,539

3,774

615

4,383

4,359

3,435

7,282

6,496

9,995

8,705

11,512

16,605

17,792

17,473

15,711

13,020

10,911

12,511

12,909

12,644

10,553

10,172

7,928

9,313

8,924

7,757

7,724

0

0

0

Prepaid expenses and other assets

538

-10

-42

-366

-342

751

390

3,106

3,098

2,422

1,049

-2,738

-2,610

-994

542

2,329

1,703

346

533

355

252

659

665

1,011

683

195

-105

-759

149

245

170

0

0

0

Accounts receivable - leasehold incentives

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Income tax receivable

149

5,326

5,174

437

204

-773

-943

0

0

0

-

-

-

0

-

-

-

-

-

-

-

-

-612

0

0

0

-

-

-

-

-1,489

0

0

0

Operating lease asset

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating lease liability

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable

6,701

4,755

1,024

1,853

2,133

1,009

1,845

869

6,825

3,946

7,224

7,019

2,204

844

3,314

8,272

10,447

12,934

12,891

6,410

7,954

8,304

5,202

10,903

8,523

6,527

4,480

4,282

4,639

3,997

6,860

0

0

0

Accrued expenses

5,330

442

1,211

1,529

1,851

4,371

3,644

1,400

1,614

607

1,521

2,606

-1,181

-128

-7,345

-3,425

-5,022

1,866

3,848

5,348

8,965

4,910

6,952

3,780

2,087

1,341

2,283

879

2,366

4,183

2,561

0

0

0

Deferred compensation

-

-

-688

-677

-665

-655

-543

-433

-325

482

474

466

458

451

443

437

429

422

314

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Deferred rent and leasehold incentives

-

-

-580

-1,089

-1,047

10

308

1,298

2,535

2,786

2,937

2,772

2,454

1,738

2,552

2,484

2,736

2,418

1,809

2,025

1,459

2,597

2,641

3,185

2,958

1,586

1,271

0

0

0

-

-

-

-

Net cash provided by operating activities

68,149

40,335

37,382

40,852

43,718

39,421

42,863

35,298

40,143

37,724

40,849

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred rent and lease incentives

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Net cash provided by operating activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

43,590

-

37,495

40,430

33,345

31,749

34,047

30,672

28,687

25,717

22,307

21,964

23,207

25,202

0

0

0

Investing activities:
Acquisition of property and equipment

31,145

29,501

30,030

27,861

30,801

30,279

23,687

21,034

28,071

33,001

41,139

51,205

53,693

56,636

53,759

51,246

44,457

39,358

36,750

34,398

34,616

36,400

36,512

40,765

39,894

38,567

39,708

37,610

34,722

29,751

25,259

0

0

0

Acquisition of other intangibles

3,851

3,643

2,703

2,036

252

92

30

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of property and equipment

-

-

-

-

-

-

34

181

202

209

2,732

2,592

2,571

2,571

19

13

21

21

13

0

0

0

-

-

-

-

5,005

0

0

0

-

-

-

-

Proceeds from property insurance settlements

37

30

32

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment for acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,601

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-34,915

-32,278

-31,865

-29,016

-30,099

-30,219

-23,543

-20,851

-27,990

-32,890

-38,499

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of available-for-sale securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

521

0

0

0

-

-

-

-

Decrease in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-500

0

0

0

-

-

-

-

-

-

-

-

Increase in split-dollar life insurance premiums

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

82

0

0

0

Net cash used in investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-39,337

-

-39,987

-40,118

-40,857

-34,872

-33,548

-32,681

-32,803

-34,624

-39,842

-35,519

-30,228

-25,558

0

0

0

Financing activities:
Borrowings under credit facility

446,700

424,600

405,900

394,000

385,200

382,800

376,000

347,315

325,415

311,915

291,765

283,892

229,292

205,922

234,604

262,517

283,750

274,320

202,878

0

0

0

-

-

-

-

-

-

-

-

-

-

-

0

Repayments under credit facility

456,892

429,000

413,400

400,200

394,600

394,700

391,200

358,500

332,300

314,399

290,800

275,241

211,391

178,845

207,176

243,690

275,173

277,402

202,878

0

0

0

-

-

-

-

-

-

-

-

27,236

0

0

0

Repurchases of common stock

-

-

-

-

-

-

581

581

842

842

261

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayments under notes payable, related party

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

282

787

774

850

924

0

0

0

Capital and financing lease obligation payments

-

-

780

723

664

616

573

543

519

498

479

485

455

445

423

368

330

283

247

216

210

194

182

185

176

158

121

0

0

0

-

-

-

-

Finance lease obligation payments

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Dividend to shareholders

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loan fees paid

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

18

18

18

19

5

0

0

0

Excess tax benefit from share-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

392

399

0

0

0

-

-

-

-

-

-

-

-

Equity issuance costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

268

0

0

0

-

-

-

-

Payments on withholding tax for restricted stock unit vesting

278

314

421

458

343

239

89

57

70

63

71

134

121

121

119

90

90

90

102

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in financing activities

-15,143

-7,436

-8,701

-7,381

-10,407

-12,755

-16,443

-12,366

-8,316

-3,887

154

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net increase in cash and cash equivalents

18,091

621

-3,184

4,455

3,212

-3,553

2,877

2,081

3,837

947

2,504

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash (used in) provided by financing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-3,966

-

-908

-890

3,145

104

483

326

68

-252

19,885

19,597

14,625

17,269

0

0

0

Net increase (decrease) in cash and cash equivalents

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

287

-

-3,400

-578

-4,367

-3,019

982

-1,683

-4,048

-9,159

2,351

6,042

7,604

16,913

0

0

0

Supplemental disclosures of cash flow information:
Cash paid for interest

676

726

787

827

886

885

878

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash paid for interest

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Cash paid for interest on revolving credit facility

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

95

-

0

0

0

-

-

-

-

7

0

0

0

-

-

-

-

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

2,842

3,497

4,148

4,110

3,950

3,787

3,611

3,486

3,237

3,036

2,972

2,896

2,873

2,799

2,637

2,597

2,655

2,720

2,809

2,442

2,432

2,441

2,423

2,906

2,809

2,500

2,036

0

0

0

-

-

-

-

Income taxes paid

1,782

4,724

4,734

6,183

4,830

1,959

1,958

630

1,364

2,664

2,656

2,542

1,740

5,163

6,370

8,302

9,107

5,142

8,194

6,266

5,205

8,010

3,762

4,777

5,624

3,837

3,916

0

0

0

-

-

-

-

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

8,809

9,334

6,289

6,216

4,105

6,502

5,254

2,695

-4,308

-2,678

2,843

1,254

10,334

6,738

6,837

9,239

10,102

10,303

6,429

6,102

2,277

3,082

3,260

1,512

2,799

5,015

3,545

8,506

7,701

6,577

5,007

0

0

0

Property acquired through capital and financing lease obligations

-

-

12,156

9,732

8,699

8,545

8,285

9,477

5,927

5,927

1,499

0

0

0

-

-

-

-

5,772

8,113

5,641

5,641

2,300

3,863

3,863

4,067

14,372

0

0

0

-

-

-

-

Property acquired through operating lease obligations

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Property acquired through finance lease obligations

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-