PINNACLE FOODS INC. PF Cash Flow

Pinnacle foods inc. (PF)

CashFlow / Quarterly

Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12
Cash flows from operating activities
Net earnings
56,256	56,914	443,873	46,581	18,618	23,149	88,144	52,353	45,783	24,837	79,195	48,098	43,679	41,536	36,129	135,957	35,584	40,748	55,707	40,685	-31,839	24,796	43,662	9,878	-10,560	9,539
Non-cash charges (credits) to net earnings
Depreciation and amortization
27,363	26,888	25,456	26,532	53,811	27,088	27,023	27,077	26,755	24,917	22,240	24,263	22,290	20,867	20,651	20,018	19,578	20,380	20,542	19,658	18,755	19,270	29,581	26,486	21,566	20,490
Amortization of debt acquisition costs and discount on term loan
741	871	1,107	1,030	1,017	1,580	2,475	2,422	2,411	2,246	1,657	1,566	1,541	1,589	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of discount on term loan
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	598	633	634	634	310	96	314	325	219	149	301
Amortization of debt acquisition costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	987	1,032	1,024	1,017	623	1,042	1,713	1,840	1,910	2,276	2,559
Recognition of deferred costs related to refinancing
1,768	10,913	0	0	0	28,494	0	600	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of deferred mark-to-market adjustment on terminated swaps
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	31	413
Change in value of financial instruments, including amounts reclassified from Accumulated Other Comprehensive Loss from settlement of hedges
-470	-608	390	3,704	-2,319	-22,724	3,293	1,724	3,602	3,892	1,768	-4,392	4,456	110	-8,973	-3,067	-75	-422	343	244	-466	414	-817	3,004	-3,427	2,425
Equity-based compensation charges
5,700	4,279	4,602	4,470	5,547	4,109	4,633	4,252	1,221	3,910	3,633	3,427	4,593	3,469	27,565	3,938	2,336	2,112	2,317	2,291	3,150	175	125	125	300	300
Pension expense, net of contributions
-1,727	-914	-622	-614	-502	-634	-149	46	-1,069	1,135	-400	-1,596	-619	-2,085	-542	-3,136	-2,941	-2,681	-2,375	-3,641	-2,699	-416	-1,467	-4,287	-2,365	-2,272
Gain on sale of assets held for sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	2,926	0	701	0	0	0	0
Other long-term liabilities
-5,627	-704	-17,689	-1,841	280	-1,473	-601	-597	1,666	-468	1,271	-633	-692	54	153	1,819	-393	383	-1,378	724	-605	-613	-411	757	2,421	32
Other long-term assets
-	-	-	-	-	-	-827	-525	0	1,635	0	0	0	0	-	-	-	-	-	-	-	-	-	131	704	-234
Foreign exchange losses/(gains)
-369	-525	-396	1,482	165	233	-541	-256	499	784	-1,052	-2,101	701	-2,279	-2,620	0	0	0	-	-	-	-	-	-	-	-
Deferred income taxes
6,651	5,697	-311,575	11,930	-10,838	5,058	19,445	9,710	6,476	12,551	60,084	22,377	14,624	18,499	32,148	81,951	21,086	24,352	34,626	24,273	-5,549	14,502	28,292	4,653	-7,199	5,183
Changes in working capital
Other liabilities - cash settlement of hedges related to refinancing
0	0	-	0	0	20,722	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts receivable
-36,686	19,835	-18,389	21,563	-23,360	11,583	-11,291	33,151	-39,632	47,189	11,491	14,863	-16,381	20,909	-6,792	20,055	-12,831	21,198	-3,928	19,897	-19,351	24,729	-22,233	12,280	-30,425	24,119
Inventories
30,969	-11,913	-53,506	64,867	22,998	8,747	-55,478	60,299	-1,883	-26,468	-41,067	80,625	20,505	-10,853	-44,689	56,384	-11,271	-21,981	-52,289	105,280	-37,113	-32,007	-44,795	93,163	-8,272	-18,069
Accrued trade marketing expense
8,993	-2,020	-11,125	5,287	12,528	5,220	-6,515	-3,179	15,036	-10,113	-8,202	-7,000	9,790	-5,122	-10	-4,651	8,356	-3,179	1,734	-2,403	14,276	-6,317	-5,530	-9,996	12,528	-6,385
Accounts payable
-45	20,915	-22,765	14,158	6,699	28,680	29,414	29,474	-25,045	27,173	-17,664	47,763	-13,286	-1,763	-30,014	41,084	1,795	12,045	-37,634	62,890	-10,847	-10,297	-30,531	39,236	-9,182	-15,856
Accrued liabilities
-2,510	3,601	5,872	6,828	-26,663	-27,328	6,630	26,772	16,468	-13,427	-22,154	20,238	3,872	-8,565	-9,818	8,675	-362	-9,115	-6,588	2,699	-24,216	11,053	-5,772	5,429	-15,711	14,622
Other current assets
-2,772	2,113	-9,904	-7,103	8,032	1,949	1,259	-7,142	2,330	-10,803	7,242	-3,147	2,418	-161	1,956	-2,554	1,554	327	493	-5,042	-583	5,233	-329	-2,751	2,403	-402
Net cash provided by operating activities
93,172	121,578	237,231	58,374	57,355	62,993	247,562	74,839	88,345	76,758	162,091	86,386	53,437	70,997	138,094	226,062	92,615	93,939	120,515	29,610	44,373	67,744	140,469	-5,313	33,840	33,857
Cash flows from investing activities
Capital expenditures
24,457	35,876	23,711	21,160	20,112	29,243	24,427	16,436	26,256	33,931	23,744	36,565	21,144	27,024	20,283	26,474	33,804	22,406	21,333	18,899	25,581	18,242	28,483	15,097	21,194	13,505
Proceeds from sale of plant assets
0	0	0	0	1,268	679	0	0	0	0	-	-	-	-	-	-	-	-	0	5,078	0	1,775	0	570	0	0
Other investing
0	-608	37,487	0	0	0	0	0	0	985,365	0	0	-1,102	0	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities
-24,457	-35,268	-61,198	-21,160	-18,844	-28,564	-24,427	-16,436	-26,256	-1,019,296	-22,856	-35,835	-20,042	-27,024	-177,887	-24,146	-45,573	-22,406	-596,497	-13,821	-25,581	-16,467	-28,483	-14,527	-21,194	-13,505
Cash flows from financing activities
Proceeds from bank term loans
250,000	2,039,380	0	0	0	2,262,000	0	0	0	547,250	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from notes offerings
-	-	-	-	-	-	0	0	0	350,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of long-term obligations
364,270	2,250,359	12,620	6,589	6,620	2,465,700	3,596	3,667	4,244	2,234	2,228	2,220	2,214	2,208	2,415	206,192	5,972	5,388	4,075	0	1,721,490	10,581	6,853	305,728	316,319	3,125
Proceeds from short-term borrowings
0	0	-2,743	1,109	0	1,634	2,270	578	581	1,023	2,126	425	747	963	2,537	447	813	960	2,670	473	828	1,107	3,078	401	0	815
Repayments of short-term borrowings
1,218	1,173	1,042	1,503	1,172	1,068	1,079	1,120	1,043	1,017	1,094	1,074	1,216	1,096	1,357	1,257	1,207	978	1,298	749	1,317	1,415	1,499	557	870	937
Repayment of capital lease obligations
2,152	4,036	1,588	1,320	1,992	2,224	1,329	1,047	261	1,313	940	774	1,141	730	-334	952	1,081	674	623	943	827	550	708	988	1,023	792
Repurchases of equity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	4	187	32	217	279	350
Dividends paid
39,576	38,595	39,565	33,761	33,810	33,602	33,507	29,883	29,785	29,675	29,672	27,339	27,458	27,289	28,621	24,350	24,325	24,310	20,833	20,831	0	0	-	-	-	-
Net proceeds from issuance of common stock
1,284	762	229	5,817	3,157	5,894	1,522	9,272	15,247	395	193	214	316	508	251	73	92	73	624,624	112	217	0	-	-	-	-
Excess tax benefits on stock-based compensation
-	-	-	-	-	-	810	4,398	6,232	137	97	269	274	802	119	0	786	0	-	-	-	-	-	-	-	-
Taxes paid related to net share settlement of equity awards
7,473	99	0	1,312	8,623	303	0	0	1,087	0	0	0	27	2,374	0	0	3,061	0	-	-	-	-	-	-	-	-
Debt acquisition costs
2,424	4,145	0	0	127	12,810	0	1,302	0	21,262	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in financing activities
-65,829	-258,265	-57,329	-37,559	-49,187	-246,179	-34,909	-22,771	-14,360	843,304	-31,518	-30,499	-30,719	-31,424	-61,262	-232,275	-34,169	-30,317	482,354	-21,938	-34,410	-11,626	-25,425	2,624	-156,921	-4,389
Effect of exchange rate changes on cash
-139	-189	-217	817	91	128	-78	-48	176	124	-190	-386	113	-459	-920	-23	-75	81	-36	26	50	162	-171	388	-218	218
Net change in cash and cash equivalents
2,747	-172,144	118,487	472	-10,585	-211,622	188,148	35,584	47,905	-99,110	107,527	19,666	2,789	12,090	-101,975	-30,382	12,798	41,297	6,336	-6,123	-15,568	39,813	86,390	-16,828	-144,493	16,181
Supplemental disclosures of cash flow information:
Interest paid
27,830	32,987	33,470	23,851	26,701	35,479	29,999	30,947	29,024	19,059	24,101	15,372	23,743	15,710	25,348	18,060	26,781	18,594	28,733	13,843	41,409	36,325	40,805	41,723	61,226	35,673
Interest received
800	591	88	37	13	15	14	27	27	77	-14	-6	12	153	28	35	32	26	72	24	42	3	5	4	43	58
Income taxes paid
42,870	1,747	8,957	764	45,057	2,512	12,022	478	22,631	-3,486	460	1,084	9,022	8,319	2,351	1,795	2,699	957	427	854	1,840	304	48	20	1,817	96
Non-cash investing and financing activities:
New capital leases
12,992	4,909	1,774	1,391	4,129	4,822	1,970	11,458	4,586	0	-	-	-	-	2	1,004	0	282	0	-4,431	1,793	4,668	-1	1	1,548	0
Accrued additions to plant assets
-1,986	14,504	16,564	-478	-3,259	13,681	13,383	3,230	-19	10,589	14,185	-8,074	4,601	13,166	-	-	-	-	-	-	-	-	-	-	-	-