Patrick industries inc (PATK)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jul'18Apr'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'11Sep'11Jun'11Mar'11
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income (Loss) Attributable to Parent

21,187

19,984

21,317

27,416

20,849

26,970

27,934

34,860

30,068

29,046

17,945

21,260

17,467

13,560

12,073

16,969

12,975

12,036

8,960

12,073

9,150

7,293

7,254

9,231

6,896

5,012

5,452

7,557

6,019

3,217

6,554

13,313

5,011

1,472

4,536

3,697

-1,235

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization

17,175

16,346

16,202

14,704

15,543

15,159

14,454

14,114

11,325

9,025

8,738

8,361

7,417

6,688

6,560

5,902

5,212

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Stock warrants revaluation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

73

-134

-1,670

-775

69

277

-270

(Increase) decrease in cash surrender value of life insurance

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-22

-23

-

-23

-22

-23

155

-22

-67

22

-

-

-

45

Amortization of convertible notes debt discount

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

130

114

101

-

-

87

87

118

117

109

86

104

144

145

150

161

149

336

349

Depreciation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,977

1,928

1,891

-

1,594

1,364

1,324

1,298

1,138

1,202

1,288

1,362

812

777

1,112

1,039

1,008

1,023

1,017

Amortization of intangible assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,354

1,982

1,659

-

1,408

841

787

783

548

521

519

531

342

334

316

291

195

171

172

Stock-based compensation expense

4,311

3,397

3,867

4,225

3,947

3,070

3,542

3,673

3,696

2,661

2,633

2,678

2,439

1,672

1,665

1,632

1,501

1,240

1,232

1,170

1,024

822

834

893

733

388

329

332

263

226

235

221

120

86

87

87

73

Deferred income taxes

-

-

-

-

-

-1,847

68

2,430

-1,410

2,729

2,093

2,559

-904

-1,371

28

2,153

-250

-880

2,145

875

-341

-1,632

-36

916

-900

-253

-1,914

1,541

-3,357

-8,401

0

0

0

-

-

-

-

Amortization of convertible notes debt discount

1,723

-

1,741

1,711

1,671

-

1,630

1,619

1,246

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

685

49

49

49

-

-

-

0

Non-cash interest expense

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred compensation expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

82

83

-

114

58

59

19

58

59

58

46

59

59

58

Other

-750

1,896

-1,045

1,858

-1,048

102

2,197

-762

1,304

77

-159

-281

-59

-57

-274

-234

-288

-912

89

53

106

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on sale of fixed assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-11

5

6

-

-

-37

13

6

-6

426

4

1

234

3

0

-19

11

228

24

Interest paid-in-kind

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

4

112

Change in fair value of derivative financial instruments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

212

0

0

-106

Amortization of loss on interest rate swap agreements

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

677

Change in operating assets and liabilities, net of acquisitions of businesses:
Trade receivables

66,453

-50,127

12,845

-22,674

54,188

-55,975

-65

-19,083

48,443

-46,194

4,447

-215

53,114

-38,531

-18,809

20,868

25,148

-26,665

5,094

-19,137

31,691

-13,233

-2,605

-2,418

20,198

-12,834

206

-992

15,097

-15,381

4,126

-4,973

15,194

-8,713

-3,535

-32

15,614

Inventories

18,211

-10,598

4,615

-12,475

-1,224

-13,330

3,660

1,021

8,557

15,177

14,661

32

5,400

2,778

8,704

-684

1,663

-6,737

3,566

-1,172

1,301

-6,645

3,976

1,159

3,170

663

2,137

-681

5,363

4,321

4,233

4,472

1,156

1,349

1,035

878

612

Prepaid expenses and other assets

-9,649

17,188

-1,951

2,848

-5,216

2,645

1,684

-3,847

-2,136

5,360

4,030

1,515

-3,305

3,016

296

934

-2,617

2,579

366

431

-3,841

2,903

438

603

-2,423

662

1,633

411

-1,130

1,274

-49

253

-199

460

-32

-48

-467

Accounts payable, accrued liabilities and other

43,033

-19,276

581

-12,800

32,574

-42,394

-3,820

-9,098

34,231

3,451

8,904

1,927

16,026

-10,898

2,150

2,125

19,419

-9,244

-5,524

-6,020

12,124

-6,983

-2,826

-2,994

17,672

-18,352

846

4,907

8,951

-9,119

808

4,000

9,499

-9,036

2,429

-6,395

15,469

Payments on deferred compensation obligations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-81

-94

-80

-

-76

-88

-76

-92

-93

-108

-92

-109

-92

-104

-87

-118

-128

-105

-115

Net cash provided by operating activities

13,164

70,377

28,219

65,930

27,884

72,600

36,196

65,409

25,808

67,034

13,148

30,616

-10,897

45,602

32,503

3,591

15,451

41,516

-2,023

30,204

-2,841

23,118

6,514

9,215

7,471

979

6,418

13,895

1,139

6,367

315

12,546

1,769

2,289

10,862

-2,339

1,003

CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures

7,580

5,434

4,050

8,172

10,005

8,413

12,006

6,426

7,641

9,259

4,464

5,290

3,484

4,540

4,796

3,157

2,913

3,227

1,496

1,369

1,866

2,358

1,816

1,454

914

3,455

1,690

2,216

1,308

2,614

3,088

1,358

835

793

475

974

194

Proceeds from sale of property, equipment and other investing activities

21

-107

152

2,985

1,372

-

-

-

-

-

-

-

-

38

40

22

179

3

83

-9

26

16

60

18

19

12

20

508

481

-24

55

3

0

14

18

45

24

Proceeds from sale of property, equipment and other investing activities

-

-

-

-

-

-

-

-

6

-

-126

-46

2

-65

8

7

6

7

-664

6

7

55

-18

54

7

55

30

6

6

57

29

7

6

-

-

-

7

Business acquisitions, net of cash acquired

24,281

33,603

21,104

24

1,222

53,295

25,616

168,575

95,861

154,590

13,657

73,500

10,104

26,835

45,075

30,621

36,384

1,008

78,655

20,934

39,579

-

-

-

-

-

-

-

-

20,039

5,532

0

3,691

1,101

5,691

522

0

Net cash used in investing activities

-31,840

-39,144

-25,002

-5,211

-9,855

-60,370

-32,577

-174,915

-103,508

-162,808

-17,995

-78,744

-13,590

-31,272

-49,839

-33,763

-39,124

-4,239

-79,404

-22,318

-41,426

-11,871

-9,331

-56,517

-902

-3,465

-18,244

-1,714

-833

-22,734

-8,594

-1,362

-4,532

-1,852

-6,202

-1,509

-177

Borrowings on revolver and term loan, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,576

54,291

-7,606

-

16,992

-8,090

4,382

16,942

7,667

-11,109

3,430

-100

-5,974

1,461

1,050

Term debt repayments

0

2,500

0

2,500

1,250

1,250

1,250

1,250

3,941

7,883

3,942

3,941

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Borrowings on revolver

6,720

4,669

259,166

175,771

213,523

256,929

171,677

451,800

331,058

320,388

126,632

161,093

65,717

159,670

55,086

95,073

112,424

91,099

138,550

-4,366

97,318

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayments on revolver

6,720

4,669

466,165

218,772

220,855

228,597

152,576

335,500

389,855

218,495

123,053

108,941

126,371

159,490

62,268

72,857

74,731

106,079

61,050

70,393

48,613

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Stock repurchases under buyback program

15,550

232

3,583

0

0

32,539

20,943

40,615

13,470

0

0

0

0

547

0

1,802

2,865

16,987

0

0

5,650

-

-

-

-

0

0

2,511

3,567

-

0

0

0

-

-

-

-

Proceeds from convertible notes offering

-

-

-

-

-

172,500

-172,500

0

172,500

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from life insurance policy loans

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

26

-26

0

2,762

Purchase of convertible notes hedges

-

-

-

-

-

0

0

0

31,481

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1,137

Proceeds from sale of warrants

-

-

-

-

-

0

0

0

18,147

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash dividends paid to shareholders

5,837

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from public offering of common stock, net of expenses

-

-

-

-

-

-

-

-

-

0

-6

-300

93,612

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Realization of excess tax benefit on stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

67

-135

11

1,204

0

0

34

1,037

-

-

-

-

-

-

-

-

-

-

-

-

Payments related to vesting of stock-based awards, net of shares tendered for taxes

2,747

21

56

81

3,222

39

71

2

2,586

1,779

17

0

3,025

1,110

0

0

556

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of deferred financing costs and other

57

5

6,938

26

250

147

216

1,902

5,367

2

0

15

980

37

354

25

1

-

-

-

-

13

89

3

1

1

4

46

50

244

0

0

13

54

126

1,771

617

Payment for Contingent Consideration Liability, Financing Activities

2,000

16

0

-16

4,416

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from Stock Options Exercised

-

-

-

-

-

-

-

-

-

-

-

-

-

35

2

1,863

0

0

1,845

0

16

0

0

0

26

-

-

-

-

-

-

-

-

-

-

-

-

Other financing activities

-

-

-

-

-

2

-38

27

-1

867

-928

919

4

38

-11

-25

-26

-25

-24

10

-62

-

-

-

-

-

-

-

-

-

0

-40

40

-

0

-7

9

Payments on capital lease obligations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

37

36

-

34

34

50

-

-

-

-

-

-

-

-

Net cash used in financing activities

-26,191

-8,555

89,923

-45,601

-16,470

-5,641

-3,417

109,539

75,004

92,170

-388

48,815

28,957

-9,358

18,778

19,548

34,245

-38,600

76,231

-1,349

44,213

-13,836

2,206

50,602

-6,580

-7,990

16,958

-8,258

715

15,913

7,772

-11,033

3,457

-127

-5,126

-296

2,067

Increase (decrease) in cash and cash equivalents

-44,867

22,678

93,140

15,118

1,559

6,589

202

33

-2,696

-3,604

-5,235

687

4,470

4,972

1,442

-10,624

10,572

-1,323

-5,196

6,537

-54

-2,589

-611

3,300

-11

-10,476

5,132

3,923

1,021

-454

-507

151

694

310

-466

-4,144

2,893