PATTERSON COMPANIES, INC. PDCO Cash Flow

Patterson companies, inc. (PDCO)

CashFlow / Yearly

Apr'19	Apr'18	Apr'17	Apr'16	Apr'15	Apr'14	Apr'13	Apr'12	Apr'11	Apr'10	Apr'09
Net income (loss)
82,876	200,974	170,893	187,184	223,261	200,612	210,272	212,815	225,385	212,254	199,635
Operating activities:
Net loss from discontinued operations
0	0	-2,895	1,500	43,178	29,280	-	-	-	-	-
Net income from continuing operations
82,876	200,974	173,788	185,684	180,083	171,332	-	-	-	-	-
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation
44,371	45,115	40,004	34,315	23,768	23,843	25,720	25,254	24,613	25,692	22,890
Amortization
38,402	38,701	43,814	48,068	20,755	18,603	20,282	16,955	16,726	13,782	7,456
Intangible asset impairment
0	0	36,312	0	0	-	-	-	-	-	-
Bad debt expense
7,333	6,280	1,642	8,246	2,546	2,544	1,119	2,445	3,409	4,579	4,193
ESOP compensation
-	-	-	-	-	-	-	-	2,113	1,726	-
Non-cash employee compensation
33,425	36,532	19,025	28,851	23,070	16,932	35,202	13,371	10,481	8,826	7,730
Accelerated amortization of debt issuance costs on early retirement of debt
-	-	-	5,153	0	0	-	-	-	-	-
Excess tax benefits from stock-based compensation
-	-	-	-	255	1,290	2,487	1,371	1,276	387	346
Deferred Income Tax Expense (Benefit)
10,762	-41,058	-13,713	-16,034	460	5,533	7,049	89	17,170	251	9,830
Deferred consideration in securitized receivables
402,367	49,650	51,402	-	-	-	-	-	-	-	-
Change in assets and liabilities, net of acquired:
Receivables
-227,907	-60,211	103,181	57,249	40,696	49,784	-17,226	-468	-3,784	-24,185	90,908
Inventory
-11,547	60,475	961	118,351	21,754	41,501	39,096	-16,859	26,639	12,090	-24,161
Accounts payable
44,189	-12,103	59,654	119,690	10,286	13,828	41,347	-6,847	9,664	9,215	-35,610
Accrued liabilities
512	-24,726	-9,009	-4,055	42,555	15,828	-21,767	37,948	-5,754	3,680	-22,591
Long term receivables
-21,611	33,795	12,574	38,882	-814	5,108	-27	1,766	15,212	23,501	-2,820
Change in assets and liabilities, net of acquired
72,410	-12,889	17,785	563	36,568	22,543	-4,301	-4,938	1,852	2,727	5,255
Net cash provided by operating activities- continuing operations
48,158	178,895	165,614	194,873	205,064	148,217	299,195	321,158	-	-	-
Net cash used in operating activities- discontinued operations
0	0	-2,895	-38,544	57,627	47,619	-	-	-	-	-
Net cash provided by (used in) operating activities
48,158	178,895	162,719	156,329	262,691	195,836	-	-	262,612	265,485	124,005
Investing activities:
Additions to property and equipment
60,734	43,263	47,019	79,354	60,662	34,041	21,983	29,650	36,822	29,804	32,318
Collection of deferred purchase price receivables
402,367	49,650	51,402	22,320	-	-	-	-	-	-	-
Acquisitions and equity investments, net of cash assumed
-	-	-	1,106,583	10,515	145,815	14,650	22,620	52,187	53,672	124,776
Proceeds from sale of securities
-	-	-	48,744	40,775	0	-	-	-	-	-
Purchase of investments
-	-	-	-	543	99,672	-	-	-	-	-
Other investing activities
906	-10,600	3,190	0	-18,035	4,436	-6,595	-	-	-	-
Net cash provided by investing activities
340,727	16,987	1,193	-1,114,873	-12,910	-283,964	-30,038	-52,270	-	-	-
Net cash provided by investing activities- discontinued operations
0	0	0	714,239	-	-	-	-	-	-	-
Net cash provided by investing activities
340,727	16,987	1,193	-400,634	-9,599	-283,764	-	-	-89,009	-83,476	-157,094
Financing activities:
Dividends paid
99,468	99,199	95,910	90,597	81,760	85,657	43,767	54,741	49,992	11,886	0
Repurchases of common stock
0	87,500	125,384	200,000	47,539	96,486	179,525	362,379	97,153	0	0
Proceeds from issuance of long-term debt
0	150,000	0	1,000,000	250,000	0	-	325,000	-	0	-
Debt issuance costs
-	-	-	11,600	0	0	-	1,862	-	-	-
Debt amendment costs
0	0	1,266	0	0	-	-	-	-	-	-
Payments on long-term debt
249,542	164,754	26,238	682,375	250,000	0	125,000	-	-	-	130,034
Common stock issued, net
-	-	-	-	7,300	20,217	13,131	13,621	11,940	12,184	12,244
ESOP activity
-	-	-	-	188	435	-	-	-	-	1,801
Draw on revolving credit
-16,000	-43,000	39,000	20,000	0	0	-	20,000	-	-	22,000
Settlement of swap
-	-	-	-	29,003	0	-	-	-	-	-
Payment to revolver
-	-	-	-	-	-	-	20,000	-	22,000	-
Other financing activities
9,764	14,291	7,635	7,441	3,311	200	1,576	931	707	1,360	-
Excess tax benefits from stock-based compensation
-	-	-	-	255	1,290	2,487	1,371	1,276	387	346
Net cash used in financing activities
-355,246	-230,162	-202,163	42,869	-150,935	-160,201	-331,098	-78,059	-133,222	-19,955	-93,643
Effect of exchange rate changes on cash
-977	2,305	-4,243	-8,371	-19,805	7,809	-6,612	-5,713	7,693	20,472	-23,367
Net change in cash and cash equivalents
32,662	-31,975	-42,494	-209,807	82,352	-240,320	-68,553	185,116	48,074	182,526	-150,099
Supplemental disclosures:
Income taxes paid
17,530	19,611	108,394	151,662	110,909	108,374	124,146	81,959	112,840	139,504	109,660
Interest paid
31,045	36,504	34,972	37,883	34,076	34,933	35,965	24,868	24,703	25,628	31,901
Repurchases of common stock with liability due to broker
-	-	-	-	-	-	2,707	475	1,807	-	-