Patterson companies, inc. (PDCO)
CashFlow / Quarterly
Jan'20Oct'19Jul'19Apr'19Jan'19Oct'18Jul'18Apr'18Jan'18Oct'17Jul'17Apr'17Jan'17Oct'16Jul'16Apr'16Jan'16Oct'15Jul'15Apr'15Jan'15Oct'14Jul'14Apr'14Jan'14Oct'13Jul'13Apr'13Jan'13Oct'12Jul'12Apr'12Jan'12Oct'11Jul'11Apr'11Jan'11Oct'10Jul'10Apr'10Jan'10Oct'09Jul'09
Net income (loss)

22,972

-33,349

29,807

27,685

31,054

28,646

-4,509

20,928

108,955

40,244

30,847

61,691

24,540

45,756

38,906

65,620

56,440

35,421

29,703

64,518

54,676

53,778

50,289

55,671

57,021

42,028

45,892

63,562

53,630

45,542

47,538

62,143

53,108

48,954

48,610

62,707

55,396

53,357

53,925

61,805

56,049

49,343

45,057

Operating activities:
Net loss from discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-750

-7,142

9,392

11,059

8,242

11,913

11,964

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net income from continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

65,620

57,190

42,563

20,311

53,459

46,434

41,865

38,325

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation

11,300

11,360

11,335

11,054

11,172

11,305

10,840

11,443

11,214

11,025

11,433

10,967

11,027

8,946

9,064

9,375

8,149

9,445

7,346

6,471

5,634

5,756

5,907

3,523

6,979

6,761

6,580

6,583

6,418

6,305

6,414

6,812

6,321

6,704

5,417

5,845

5,915

6,444

6,409

7,782

5,982

6,174

5,754

Amortization

9,317

9,283

9,297

9,294

9,327

9,764

10,017

9,586

9,740

9,704

9,671

9,795

10,022

12,702

11,295

14,191

12,268

13,708

7,901

6,563

4,841

5,602

3,749

2,240

6,663

5,304

4,396

6,112

4,983

4,116

5,071

4,965

4,572

3,753

3,665

4,659

3,867

5,086

3,114

3,458

3,583

3,638

3,103

Investment gain

0

0

34,334

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Bad debt expense

-

-

-

-

-

-

-

1,809

755

2,297

1,419

629

955

515

-457

1,700

872

955

4,719

768

969

456

353

342

840

1,118

244

627

-920

475

937

229

456

994

766

796

514

1,077

1,022

1,532

1,085

970

992

ESOP compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,700

5,700

5,700

-

177

-5,333

5,700

538

525

525

525

-

-

-

-

Non-cash employee compensation

9,359

9,068

10,234

11,143

8,356

7,569

6,357

13,533

6,364

7,979

8,656

1,771

2,561

5,509

9,184

8,264

7,046

6,576

6,965

5,130

6,000

5,528

6,412

2,092

12,672

-2,294

4,462

24,217

3,529

3,718

3,738

3,943

3,127

3,121

3,180

2,570

2,622

2,620

2,669

2,208

2,221

2,167

2,230

Excess tax benefits from stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

64

1,623

63

-34

114

-337

512

194

264

279

553

1,638

193

222

434

763

64

156

388

0

245

156

875

6

126

150

105

Deferred Income Tax Expense (Benefit)

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred consideration in securitized receivables

147,022

106,610

105,697

93,775

143,025

150,058

15,509

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in assets and liabilities, net of acquired:
Change in assets and liabilities, net of acquired

69,213

-140,819

-34,134

317,448

40,754

-87,527

-198,265

-167,812

123,337

-76,468

108,054

-214,472

35,531

55,955

140,771

-256,401

119,041

98,438

39,485

-21,557

20,892

51,293

-14,060

-30,403

15,927

-2,877

39,896

-32,710

27,011

-7,808

9,206

31,040

-41,881

5,669

234

-11,029

-14,956

-16,194

44,031

37,567

28,881

-53,526

-10,195

Net cash provided by operating activities- continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

242,420

-33,580

-21,661

7,694

85,647

42,872

8,251

68,294

-

-

-

21,125

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in operating activities- discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

441

0

-36,715

-2,270

18,959

16,818

21,374

476

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) operating activities

-154,303

30,571

-45,224

-28,186

-123,870

-5,247

205,461

138,882

-37,095

123,136

-46,028

175,359

42,666

17,473

-72,779

242,861

-33,580

-58,376

5,424

104,606

59,690

29,625

68,770

-

-

-

-

-

46,136

73,442

59,758

-

109,578

52,368

66,716

71,157

205,898

-37,201

22,758

112,358

97,675

8,616

46,836

Investing activities:
Additions to property and equipment

10,021

13,950

8,901

26,808

11,832

11,910

10,184

15,024

11,808

9,757

6,674

9,562

8,080

14,335

15,042

23,074

15,302

23,914

17,064

17,480

13,992

13,017

16,173

3,778

12,819

11,880

5,564

7,724

5,494

5,559

3,206

4,599

2,672

12,132

10,247

7,623

9,153

10,916

9,130

12,298

4,373

5,125

8,008

Collection of deferred purchase price receivables

147,022

106,610

105,697

93,775

143,025

150,058

15,509

12,582

12,487

12,390

12,191

12,438

12,754

13,778

12,432

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisitions and equity investments, net of cash assumed

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

1,354

499

1,104,730

-

-

-

-

-

-

-

-

-

-

-

-

8,427

5,467

8,726

0

-156

5,661

0

46,682

25,521

0

38

28,113

Purchase of investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

184

359

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other investing activities

0

0

0

3,781

0

-631

-2,244

0

1,026

-11,626

0

95

0

0

3,095

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-754

-16,656

24,331

-1,121,794

-1,230

-22,722

27,574

-16,532

-

-

-

-5,564

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by investing activities- discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-441

-750

715,484

-54

-

-342

-488

5,086

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by investing activities

137,001

92,660

96,796

63,186

131,193

138,779

7,569

-2,442

-347

14,259

5,517

2,781

4,674

-557

-5,705

-1,195

-17,406

739,815

-1,121,848

-2,175

-23,064

27,086

-11,446

-

-

-

-

-

-9,553

-16,150

-3,206

-

-8,139

-20,858

-10,247

-7,467

-14,814

-10,916

-55,812

-37,819

-4,373

-5,163

-36,121

Financing activities:
Dividends paid

25,018

24,966

25,538

24,737

24,751

24,691

25,289

24,558

24,672

24,759

25,210

24,963

23,292

23,458

24,197

23,587

21,654

22,228

23,128

21,420

20,166

20,112

20,062

20,324

16,945

18,615

29,773

22

14,399

14,529

14,817

14,941

12,587

13,412

13,801

14,449

11,809

11,818

11,916

11,886

0

0

0

Repurchases of common stock

-

-

-

-

-

-

-

0

16,246

33,754

37,500

40,733

34,651

25,000

25,000

0

39,421

160,579

0

0

0

4,662

42,877

53,752

20,535

0

22,199

39,057

55,294

50,702

34,472

38,860

104,661

158,945

59,913

60,206

0

36,947

0

-

-

-

-

Proceeds from issuance of long-term debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1,000,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Debt issuance costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

11,600

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on long-term debt

373,750

81,557

5,533

5,532

63,689

3,688

176,633

157,377

0

7,377

0

3,688

14,300

4,125

4,125

4,125

4,125

674,125

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Common stock issued, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,256

4,254

1,434

4,187

3,125

3,829

2,420

4,247

2,523

1,682

2,233

5,502

2,189

4,375

2,500

3,120

ESOP activity

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-365

-365

1,611

-

0

0

0

Draw on revolving credit

95,000

0

0

-29,000

29,000

-32,000

16,000

-163,000

87,000

-71,000

104,000

-139,000

35,000

55,000

88,000

-178,000

118,000

80,000

0

-

-

-

-

-135,000

0

0

135,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other financing activities

748

1,018

-5,085

3,536

2,636

1,475

2,117

6,745

3,985

1,645

1,916

2,140

4,521

1,480

-506

1,918

2,629

3,639

-745

-3,173

5,640

1,655

-811

1,648

-483

-2,697

1,732

3,090

-504

-505

-505

2,238

-436

-435

-436

-

-

-

-

-

-

-

-

Payments on credit facility

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-14,000

-8,000

Excess tax benefits from stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,638

193

222

434

763

64

156

388

0

245

156

875

6

126

150

105

Net cash used in financing activities

-6,320

-105,505

-36,156

-55,733

-56,804

-58,904

-183,805

-188,190

50,067

-135,245

43,206

-206,244

-33,988

3,897

34,172

-203,794

55,429

-773,293

964,527

-49,540

-14,526

-23,119

-63,750

-200,890

-32,238

-11,833

84,760

-81,095

-65,750

-139,080

-45,173

-47,675

189,347

-150,216

-69,515

-72,306

-132,595

75,607

-3,928

-8,331

4,501

-11,350

-4,775

Effect of exchange rate changes on cash

216

2,068

-1,281

-1,052

1,397

-589

-733

-3,271

3,924

-473

2,125

1,324

-2,000

-404

-3,163

1,880

-2,193

865

-8,923

4,647

-17,250

-9,460

2,258

11,342

-4,579

3,226

-2,180

-4,856

1,242

1,409

-4,407

3,894

-2,762

-5,002

-1,843

9,242

806

2,827

-5,182

6,601

-172

2,671

11,372

Net change in cash and cash equivalents

-23,406

19,794

14,135

-21,785

-48,084

74,039

28,492

-55,021

16,549

1,677

4,820

-26,780

11,352

20,409

-47,475

39,752

2,250

-90,989

-160,820

57,538

4,850

24,132

-4,168

-159,067

-92,083

-87,311

98,141

32,779

-27,925

-80,379

6,972

35,689

288,024

-123,708

-14,889

626

59,295

30,317

-42,164

72,809

97,631

-5,226

17,312