Paycom software, inc. (PAYC)
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'13
Cash flows from operating activities
Net income

196,309

180,576

166,610

156,227

143,187

137,065

154,517

146,658

130,952

123,486

109,834

95,122

85,527

70,421

40,364

38,013

33,538

20,945

18,294

17,137

10,598

5,663

1,193

-1,921

-968

607

0

0

0

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

45,079

42,211

39,391

36,550

32,935

29,657

26,407

23,184

21,178

19,395

17,859

16,507

15,009

13,632

12,270

11,119

10,197

9,421

8,786

8,181

7,574

7,162

6,648

6,304

5,912

5,486

0

0

0

Accretion of discount on available-for-sale securities

1,242

940

898

986

1,100

1,112

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of debt issuance costs

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

-

-

0

-

-

-

-

Amortization of debt discount and debt issuance costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

133

147

216

265

258

0

0

0

Stock-based compensation expense

32,008

47,268

46,190

46,323

44,425

36,576

37,921

46,691

55,955

36,076

31,642

32,210

22,841

20,721

20,154

7,747

4,188

3,219

2,157

727

873

712

371

364

305

934

0

0

0

Cash paid for derivative settlement

149

81

46

60

110

188

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(Gain)/loss on derivative

-

-

-

-

-

479

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on derivative

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net change in derivative liability

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,107

-2,024

-1,766

-949

-660

0

0

0

Deferred income taxes, net

18,681

21,011

21,715

20,279

20,527

21,077

-1,771

-360

-4,694

-7,681

26,007

23,189

20,269

15,340

-1,007

-5,727

-4,564

-1,021

-669

1,641

1,581

2,259

0

0

0

-

-

-

-

Changes in operating assets and liabilities:
Accounts receivable

4,224

5,884

396

436

1,485

1,838

769

611

503

237

-35

-972

-733

-1,015

-1,907

223

896

-440

1,918

1,646

947

1,089

761

347

262

1,083

0

0

0

Prepaid expenses

8,697

5,903

4,790

3,240

2,155

2,676

2,229

2,288

1,588

507

1,714

1,601

620

944

1,565

924

1,749

1,579

845

1,593

832

465

141

465

834

800

0

0

0

Inventory

138

403

431

611

124

306

-481

-85

-93

-462

620

-200

-171

-418

-494

-559

-722

224

-317

-77

382

-267

-452

-108

-292

-136

0

0

0

Other assets

4,654

3,555

3,018

3,088

899

762

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deposits and other assets

-

-

-

-

-

-

-

-

-

-

331

390

503

-71

198

87

271

810

423

512

241

232

136

64

138

44

0

0

0

Deferred contract costs

80,420

76,204

74,503

70,834

66,432

60,730

56,476

53,776

52,768

48,619

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred tax assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Accounts payable

1,438

-221

-1,680

-798

538

1,079

3,331

991

718

79

624

-4,509

-1,750

-1,571

-3,239

3,158

-1,086

-431

-192

-956

-1,191

-2,386

-218

902

1,368

2,667

0

0

0

Income taxes, net

12,427

-58

-3,056

-5,014

6,560

3,085

2,791

-2,055

-19,611

-6,355

-4,931

-8,918

9,995

6,051

-5,924

3,440

3,229

-5,808

2,123

2,609

3,777

-122

0

0

0

-

-

-

-

Accrued commissions and bonuses

1,109

1,672

1,978

3,459

1,948

1,086

-328

-795

-121

1,582

1,401

2,184

942

-684

872

513

216

3,607

1,941

960

583

1,482

785

-636

-290

1,645

0

0

0

Accrued payroll and vacation

6,653

4,129

4,735

2,665

3,184

3,726

3,841

3,038

3,634

2,246

2,416

-681

2,451

1,871

2,574

1,574

2,077

1,316

1,441

1,472

984

-1,505

0

0

0

-

-

-

-

Accrued commissions and bonuses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Deferred revenue

10,944

11,593

12,551

12,815

13,734

13,027

12,447

12,185

11,611

11,913

11,482

11,293

11,347

10,675

10,899

10,676

10,043

9,699

8,752

7,744

7,210

6,765

6,050

5,238

4,507

4,163

0

0

0

Accrued expenses and other current liabilities

-1,852

7,561

8,432

12,529

12,189

6,498

4,758

2,475

2,959

-2,709

-2,570

-1,590

-1,651

3,896

5,302

4,771

3,949

4,026

3,212

3,223

500

749

-783

-214

3,481

2,394

0

0

0

Net cash provided by operating activities

225,867

224,263

215,387

207,721

207,756

184,817

183,949

174,720

147,411

130,149

116,432

99,557

109,095

98,818

83,278

74,747

59,784

42,972

43,165

39,223

33,742

22,337

18,189

13,971

14,191

16,984

0

0

0

Cash flows from investing activities
Purchase of short-term investments from funds held for clients

356,914

195,811

68,665

90,534

94,179

145,011

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from maturities of short-term investments from funds held for clients

74,700

69,200

114,200

118,200

147,500

155,500

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net change in funds held for clients

-

-

-

-

-

-

-

-

173,390

-

163,910

-345,091

-272,431

63,749

-22,854

491,507

534,056

36,146

222,262

227,178

182,345

204,778

151,661

30,131

58,922

131,513

0

0

0

Decrease in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-371

0

0

0

-

-

-

-

-

-

-

-

Purchases of property and equipment

103,771

92,934

86,722

62,738

56,087

59,906

60,727

69,353

68,961

59,389

54,601

41,374

44,578

43,805

38,529

35,967

22,410

16,549

12,472

9,914

11,612

14,270

22,881

23,615

21,109

17,176

0

0

0

Net cash used in investing activities

-385,985

-219,545

-41,187

-35,072

-42,116

-49,417

-93,752

-95,014

92,963

15,581

-253,493

206,355

130,491

-204,916

-15,675

-527,474

-556,466

-52,324

-234,366

-236,724

-193,588

-219,050

-174,283

-53,487

-79,774

-148,432

0

0

0

Cash flows from financing activities
Proceeds from issuance of long-term debt

-

-

-

-

-

-

-

-

-

40,940

0

0

0

-

-

-

-

-

-

-

-

6,538

0

0

0

-

-

-

-

Repurchases of common stock

0

-

-

-

-

105,188

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Withholding taxes paid related to net share settlements

23,029

42,528

42,362

40,491

28,046

20,248

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on long-term debt

1,775

1,775

0

0

0

-

-

-

-

35,335

1,105

1,078

1,022

964

923

884

878

1,118

1,105

1,125

66,219

65,650

0

0

0

-

0

0

0

Net change in client funds obligation

-13,086

694,991

-66,829

226,521

310,305

-121,414

110,013

113,272

144,180

230,957

199,693

-247,299

-174,639

161,541

-22,854

491,507

534,056

36,146

222,262

227,178

182,345

204,778

151,661

30,131

58,922

131,513

0

0

0

Payments of deferred offering costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

Capital impact of reorganization

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

Payment of debt issuance costs

-

-

-

-

-

58

259

257

243

344

0

0

0

-

-

-

-

106

0

0

0

-

-

-

-

-

-

-

-

Incentive awards redeemed

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Distributions received from members

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Net cash (used in) provided by financing activities

-45,904

650,672

-173,313

120,737

180,722

-247,796

4,289

-6,526

40,308

145,665

129,175

-318,688

-218,746

115,542

-41,654

490,953

533,084

34,922

221,275

226,200

182,394

208,495

153,429

35,708

61,481

131,375

0

0

0

(Decrease) increase in cash, cash equivalents, restricted cash and restricted cash equivalents

-206,022

655,390

887

293,386

346,362

-112,396

94,486

73,180

280,682

291,395

-7,886

-12,776

20,840

9,444

25,949

38,226

36,402

25,570

30,074

28,699

22,548

11,782

-2,665

-3,808

-4,102

-73

0

0

0

Non-cash investing and financing activities:
Purchases of property and equipment, accrued but not paid

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Stock-based compensation for capitalized software

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-