Northern technologies international corporation (NTIC)
CashFlow / Quarterly
Feb'20Nov'19Aug'19May'19Feb'19Nov'18Aug'18May'18Feb'18Nov'17Aug'17May'17Feb'17Nov'16Aug'16May'16Feb'16Nov'15Aug'15May'15Feb'15Nov'14Aug'14May'14Feb'14Nov'13Aug'13May'13Feb'13Nov'12Aug'12May'12Feb'12Nov'11Aug'11May'11Feb'11Nov'10
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income

283

1,359

981

1,640

1,552

1,641

2,298

2,304

1,421

1,198

1,537

1,495

484

406

-2,078

1,023

-71

-72

42

1,069

-58

1,464

1,451

1,398

1,384

1,304

1,962

1,287

745

758

395

1,640

603

935

1,077

1,022

1,001

894

Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation

339

318

357

357

357

357

103

103

103

103

97

97

97

97

101

101

101

121

117

117

117

143

108

108

108

127

-

-

-

-

-

-

-

-

-

-

-

-

Stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

43

71

71

72

72

27

40

65

44

Depreciation expense

217

211

213

198

211

217

222

212

210

208

206

195

191

193

177

161

162

159

145

139

127

117

119

117

100

116

119

104

106

105

95

92

82

80

85

81

83

85

Amortization expense

59

58

66

65

64

64

63

63

62

62

29

29

29

29

29

29

29

29

21

21

21

21

21

21

21

21

18

18

17

17

15

36

38

38

39

39

39

39

Loss on disposal of assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-6

-1

-12

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on impairment of joint venture

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

50

-

-

-

-

-

-

-

-

-

-

-

-

Equity in income from joint ventures

1,360

1,293

1,628

1,877

1,715

2,004

1,733

2,246

1,805

1,741

1,555

1,686

1,383

1,274

1,142

1,664

952

983

1,130

1,724

1,474

1,606

1,503

1,593

1,395

1,427

1,504

1,440

1,138

1,154

1,114

1,822

1,224

1,357

986

1,724

1,129

1,695

Deferred income taxes

2

-114

267

-42

-116

-19

-

-

-

-

142

0

0

-25

47

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Dividends received from joint ventures

5,353

205

1,216

1,795

540

1,486

755

1,171

1,706

63

1,197

4,614

564

0

53

1,394

3,733

320

215

70

2,611

85

123

2,090

5,205

12

138

64

277

2,676

15

9

1,004

2,031

70

572

826

1,368

Increase in allowance on doubtful accounts

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

10

10

-

-

-

-

-

-

-

-

-

-

-

-

Gain on sale of property and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2

0

0

-2

-

-

-

-

-

-

-

-

-

-

-

-

Changes in current assets and liabilities:
Trade, excluding joint ventures

-523

534

-81

862

-1,074

343

1,545

535

927

1,364

-350

265

414

762

153

404

529

-363

-197

730

329

-163

330

-16

-366

302

588

82

18

205

-184

51

-119

410

185

-799

1,265

-363

Trade, joint ventures

-102

-182

-111

256

99

-181

163

150

-73

-171

-604

833

-237

-91

73

-45

164

-45

18

-157

232

-398

182

232

-210

-112

-260

138

39

207

-373

-357

460

-144

159

-321

-182

277

Fees for services provided to joint ventures

-170

97

25

-95

66

-85

5

-13

54

7

77

-17

-179

15

54

144

-289

46

94

-129

-1,285

156

-220

17

-4

374

-13

21

109

-330

-613

-35

-203

38

162

286

-24

404

Income taxes

41

-262

-154

120

129

93

-76

88

77

101

-245

137

101

-84

-273

-41

221

133

41

-83

145

154

-306

-54

262

-52

-18

65

-145

196

54

5

-0

1

-

-

-

-

Inventories

174

734

21

-582

973

1,075

136

141

1,101

530

-460

-194

624

-274

275

93

-291

180

791

785

378

-276

428

150

-62

309

-68

95

125

865

248

5

-47

158

-560

255

181

326

Prepaid expenses and other

-219

97

-35

-493

23

-238

598

213

254

250

10

-122

-76

180

-75

-103

8

153

-120

-32

-211

338

-392

-44

206

293

-167

-287

-59

151

-319

114

76

349

109

-142

14

260

Accounts payable

331

518

187

381

-51

165

912

-941

390

1,278

-946

-98

537

378

-51

867

-433

258

45

640

-539

-18

593

350

-1,124

546

605

47

-598

24

356

422

-413

-489

403

27

189

-309

Income tax payable

-18

7

27

-108

22

-6

-31

-35

37

102

-23

87

11

-102

43

-2

0

1

8

8

3

10

-0

-3

-1

0

5

5

-6

4

-303

190

-34

-17

-181

52

176

-27

Accrued liabilities

-234

-2,049

1,268

25

155

-1,673

1,044

869

429

-622

888

-186

213

-172

239

346

-229

-480

179

435

-444

-804

61

741

-533

203

373

409

-1,116

22

74

770

36

-235

-53

342

457

-118

Net cash provided by operating activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,804

1,999

-750

-791

-355

776

-384

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by operating activities

5,774

-1,567

2,759

2,455

1,000

-738

750

374

913

-1,429

2,909

3,649

101

-924

-

-

-

-

-

-

-

-

-

-

-

-207

-

392

-1,971

-1,474

784

1,617

-1,004

-1,785

677

603

-423

-1,992

CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from the sale of available for sale securities

900

3,100

0

1,027

484

1,588

-

-

-

-

-23

5

997

497

-

-

-1,498

1,498

500

997

499

1,495

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Effect of subsidiary consolidation on cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1,612

-

-

-

-

-

-

-

-

Purchase of available for sale securities

4,425

2,521

-

-

-

-

-

-

-

3

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Investment in joint venture

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

38

Purchases of property and equipment

99

197

244

276

333

106

179

293

120

87

161

161

486

112

152

143

82

264

340

200

426

470

1,173

103

158

166

327

1,058

35

67

634

321

29

51

129

315

46

75

Investments in patents

17

27

27

29

39

17

23

17

13

31

37

38

27

58

43

63

15

12

13

32

54

52

34

68

62

58

87

52

46

68

61

40

40

44

43

61

32

10

Net cash used in investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

285

-2,302

1,221

146

764

18

972

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash (used in) provided by investing activities

-3,642

353

-1,295

-1,619

111

1,463

-220

-326

368

-121

-209

-3,209

483

327

-

-

-

-

-

-

-

-

-

-

-

-212

-3,432

-1,046

195

4,153

-1,165

-353

934

1,935

-102

195

847

1,244

CASH FLOWS FROM FINANCING ACTIVITIES:
Repayment of note payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

914

19

19

19

19

19

19

19

19

19

19

19

11

9

Dividend received by non-controlling interest

-

-

-

-

-

-

400

0

0

200

0

0

0

200

0

0

200

0

600

0

0

560

-

-

-

-

400

480

799

72

-

-

-

-

-

-

-

-

Investment by non-controlling interest

-

-

0

-0

0

134

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repurchase of common stock

-

-

-

-

-

-

-

-

-

-

0

48

76

71

41

26

22

47

24

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Dividends paid on NTIC common stock

591

590

545

545

545

545

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from employee stock purchase plan

0

35

-0

34

0

17

0

15

0

12

0

13

0

32

0

33

0

34

0

35

0

22

0

21

0

21

0

27

0

28

0

32

0

22

0

18

0

17

Proceeds from exercise of stock options

-

-

-

-

-

-

0

0

0

15

81

41

0

0

-

-

-

-

136

0

0

99

173

298

0

7

51

54

0

102

-

-

-

-

58

-0

145

261

Net cash used in financing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6

-222

-12

-472

35

0

-437

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in financing activities

-591

-555

-745

-510

-745

-393

-854

-438

-907

-172

81

6

-76

-238

-

-

-

-

-

-

-

-

-

-

-

9

-

-417

-819

39

0

13

-3

3

5

-0

133

269

EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS

-21

19

-86

-37

50

23

-123

-66

65

-9

77

4

11

-30

8

-1

-14

-10

-51

-15

-27

-28

3

5

-0

3

-24

-14

36

-37

52

-147

2

-12

9

14

5

4

NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS

1,519

-1,749

632

288

417

355

-447

-456

439

-1,732

2,860

451

519

-866

-1,231

2,095

-540

448

-1,169

428

766

121

-6,072

1,553

3,088

-406

1,138

-1,084

-2,557

2,681

-328

1,130

-71

141

589

812

561

-473