Pcm, inc. (PCMI)
CashFlow / TTM
Jun'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'11Sep'11Jun'11Mar'11
Cash Flows From Operating Activities
Net income

24,956

24,637

22,773

13,489

6,751

1,234

2,595

10,548

16,636

21,676

17,660

-1,284

-7,390

-14,547

-18,258

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net income (loss)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

8,643

8,532

6,800

5,094

2,381

2,330

1,935

3,132

0

0

0

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

12,620

12,970

13,440

13,934

14,181

14,264

14,181

14,344

14,650

15,234

15,784

15,054

14,349

13,590

12,217

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Equity income from unconsolidated affiliate

1,164

868

770

481

559

565

528

0

0

138

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Distribution from equity method investee

411

363

294

462

399

315

237

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation and amortization

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

11,962

12,091

12,311

12,496

12,257

11,727

11,029

10,044

0

0

0

Provision for deferred income taxes

-1,294

-1,059

-959

1,443

1,096

803

283

523

649

1,066

1,291

-8,376

-7,458

-8,813

-9,775

2,072

1,104

1,826

2,987

504

1,192

839

1,539

1,636

1,276

3,363

2,565

2,991

4,029

2,435

2,634

0

0

0

Net tax benefit related to stock option exercises

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1

0

0

0

Excess tax benefit related to stock option exercises

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

210

209

94

293

321

523

469

291

312

191

181

193

151

47

47

668

0

0

0

Non-cash stock-based compensation

3,197

3,187

3,059

2,945

2,814

2,762

2,605

2,422

2,180

1,965

1,961

1,826

1,728

1,679

1,589

1,648

1,732

1,592

1,502

1,371

1,369

1,482

1,517

1,618

1,632

1,695

1,900

2,257

2,393

2,441

2,404

0

0

0

Gain on sale of fixed assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7

0

0

0

Change in operating assets and liabilities:
Accounts receivable

-23,245

22,756

23,829

24,258

66,586

70,699

67,997

37,016

46,585

13,052

18,274

64,178

8,125

142,145

126,981

104,323

200,787

10,623

3,545

14,238

-44,155

-10,555

5,999

-5,649

33,726

11,304

-1,584

10,575

15,877

17,906

18,988

0

0

0

Inventories

-25,659

-13,876

-41,854

2,391

12,260

20,383

31,252

-9,489

-11,304

6,428

24,831

30,190

34,285

7,362

-1,663

-2,495

-4,742

-28,708

-66,267

-3,524

-17,700

1,396

48,019

-17,004

-9,085

10,122

-10,514

6,538

17,180

2,183

14,889

0

0

0

Prepaid expenses and other current assets

-28

297

-798

-1,059

-5,412

-3,939

-7,061

-13,923

-13,782

894

-1,770

-965

-2,953

-375

629

-1,954

-517

67

1,334

6,332

8,248

-708

1,119

5,721

9,516

-27

4,037

929

919

639

-178

0

0

0

Other assets

5,522

9,331

7,937

-565

56

-1,752

333

-976

-1,187

-1,146

-1,020

-851

-3,116

-1,165

-837

-259

2,553

-681

-855

-985

-159

-188

3,913

2,983

1,552

4,463

-315

-402

-368

-233

-217

0

0

0

Accounts payable

-8,824

66,086

66,641

38,364

36,725

48,884

8,355

-9,943

8,053

7,829

87,719

77,229

50,071

101,134

54,314

79,466

187,267

37,956

-8,576

17,201

-6,991

-34,220

31,042

-23,133

-25,542

2,603

-17,649

5,446

28,375

13,766

-9,425

0

0

0

Accrued expenses and other current liabilities

7,529

23,631

18,253

4,694

9,478

5,206

3,868

280

-2,112

9,554

12,948

12,864

12,329

12,898

6,317

8,292

1,647

-6,618

-2,593

3,095

3,323

7,298

2,161

1,505

2,515

421

-1,370

-1,253

-2,037

2,731

2,033

0

0

0

Deferred revenue

0

0

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred revenue

-

-

-

-

-

-

-

0

0

854

-

543

1,310

-1

1,074

986

1,639

-360

636

578

517

363

4,045

1,267

16,819

1,127

2,068

5,382

-5,438

-3,736

1,710

0

0

0

Total adjustments

50,796

87,182

110,897

39,085

-5,465

-13,017

-67,373

-16,987

-13,068

17,173

78,853

28,895

58,273

-2,047

-33,947

7,795

9,749

64,833

67,799

18,462

65,071

-3,027

-7,207

8,794

-26,647

-4,236

8,480

9,653

5,597

7,692

-25,185

0

0

0

Net cash provided by operating activities

75,752

111,819

133,670

52,574

1,286

-11,783

-64,778

-6,439

3,568

38,849

96,513

27,611

50,883

-16,594

-52,205

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash Flows From Investing Activities
Net cash provided by operating activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

17,437

-18,115

2,564

13,574

12,034

7,927

9,627

-22,053

0

0

0

Purchases of property and equipment

6,664

5,962

5,741

7,019

10,627

12,771

17,325

17,770

15,300

13,953

8,705

6,771

6,603

8,235

21,380

23,570

25,472

32,488

26,666

29,439

28,198

23,121

17,213

13,217

11,811

9,190

9,446

5,334

10,753

11,423

10,865

0

0

0

Acquisition of assets of Systemax

-

-

-

-

-

-

-

-

-

-

-

0

0

14,400

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisitions, net of cash acquired

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Acquisition of Stack Technology

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-6,533

-5,997

-5,776

-10,137

-15,599

-17,577

-22,131

-21,077

-16,884

-15,459

-10,782

-34,830

-34,662

-53,667

-66,241

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash Flows From Financing Activities
Net payments under line of credit

-72,196

-113,133

-125,379

-33,827

41,990

64,059

106,382

0

0

0

-

-

-

84,611

109,644

0

0

0

-

-

-

-

-

-

-

0

-

-1,854

15,337

1,854

41,205

0

0

0

Borrowing under note payable

0

0

-

-

-

-

5,216

5,213

3,665

3,665

526

525

1

8,189

17,695

19,967

22,368

19,032

13,734

11,241

9,551

6,414

4,599

4,820

4,108

2,393

2,859

0

0

0

-

-

-

-

Payments under notes payable

3,468

3,454

3,450

3,625

3,417

3,329

3,771

4,211

4,677

5,192

5,173

4,974

4,953

4,922

4,686

4,336

3,994

3,171

2,487

2,143

1,717

1,580

1,461

1,194

993

1,031

1,087

1,005

941

820

757

0

0

0

Change in book overdraft

-7,204

-3,409

1,314

1,268

109

-3,427

3,195

-66

8,173

240

-13,131

-7,514

-11,102

5,958

16,387

11,493

9,704

-863

-98

-362

-10,335

-2,761

-3,034

228

8,826

-875

-2,640

-698

-3,370

-252

7,034

0

0

0

Payments of earn-out liability

-

-

2,199

4,568

9,103

12,350

13,427

14,296

13,695

12,984

13,058

13,315

12,849

11,825

8,938

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments of obligations under capital lease

1,421

991

1,009

1,011

800

1,011

1,311

1,706

2,005

2,348

2,425

2,423

2,467

2,405

2,394

2,410

2,411

2,414

2,625

2,728

2,922

3,050

2,932

2,996

2,748

2,682

2,440

1,999

1,800

1,342

1,203

0

0

0

Proceeds from stock issued under stock option plans

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

2,293

1,911

1,258

604

253

189

177

762

0

0

0

Excess tax benefit related to stock option exercises

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

210

209

94

293

321

523

469

291

312

191

181

193

151

47

47

668

0

0

0

Proceeds from capital lease obligations Capital lease proceeds

-

-

-

-

-

-

587

0

0

587

-

0

0

0

-

-

-

-

-

-

-

-

206

206

206

41

4,356

0

0

0

-

-

-

-

Proceeds from stock issued under stock option plans

2,210

2,070

1,646

1,482

619

903

5,080

5,886

6,537

6,757

2,541

1,973

1,093

1,093

907

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of El Segundo building

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

17,174

0

0

0

Proceeds from sale of fixed assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

25

0

0

0

Net cash used in investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-13,217

-11,811

-9,190

-9,446

-12,941

-18,360

-18,973

-30,298

0

0

0

Net payments under line of credit

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Payment for deferred financing costs

340

350

275

613

417

439

1,009

667

884

847

653

762

518

989

760

0

0

0

-

-

-

-

1,163

0

0

0

-

-

-

-

25

0

0

0

Common shares repurchased and held in treasury

-

-

-

-

-

-

-

-

-

-

3,608

3,907

6,403

6,855

5,854

0

0

0

-

-

-

-

1,633

0

0

0

-

-

-

-

-

-

-

-

Payment of taxes related to net-settled stock awards

1,700

701

646

599

561

841

894

0

0

81

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in financing activities

-74,119

-110,431

-129,998

-41,737

18,895

34,040

88,446

25,233

11,124

-25,307

-90,024

8,235

-13,437

72,849

122,001

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Effect of foreign currency on cash flow

0

0

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net change in cash and cash equivalents

0

0

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Effect of foreign currency on cash flow

-

-

-

-

-

-

-

0

0

555

-

-27

-495

-744

-1,271

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net change in cash and cash equivalents

-

-

-

-

-

-

-

0

0

-1,362

-

989

2,289

1,844

2,284

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) financing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-1,312

32,931

3,668

-7,280

1,346

12,999

10,420

51,204

0

0

0

Effect of foreign currency on cash flow

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

55

-185

268

203

-183

-25

-60

-80

0

0

0

Net change in cash and cash equivalents

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

2,963

2,820

-2,690

-2,949

256

2,541

1,014

-1,227

0

0

0

Supplemental Cash Flow Information
Interest paid

8,854

9,036

9,051

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest paid

-

-

-

-

-

-

-

-

-

5,461

-

4,987

4,626

4,084

3,619

3,369

3,085

3,204

3,353

3,315

3,654

3,310

3,228

3,300

3,060

3,351

3,305

3,202

3,089

2,998

2,797

0

0

0

Income taxes paid (refund), net

12,184

1,376

2,048

1,820

-532

3,128

4,340

7,661

10,799

10,236

7,332

1,459

-5,403

-5,712

-4,960

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income taxes paid

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

3,852

3,321

2,254

2,470

1,623

1,478

2,240

4,157

0

0

0

Supplemental Non-Cash Investing and Financing Activities
Financed and accrued purchases of property and equipment

2,012

2,158

2,508

1,940

2,020

1,277

900

502

80

239

777

655

982

1,024

895

2,823

1,977

107

2,332

987

1,815

3,600

1,106

1,793

1,912

1,763

1,988

1,085

1,055

2,042

2,779

0

0

0

Deferred financing costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

346

0

0

0