Performance Food Group Company PFGC Cash Flow

Performance food group company (PFGC)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jul'17	Mar'17	Dec'16	Sep'16	Jul'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14
Cash flows from operating activities:
Net income
-40,200	41,200	36,100	63,200	32,300	43,100	28,200	64,400	33,700	78,000	22,600	40,400	20,800	22,900	12,200	29,200	9,400	17,500	12,200	34,200	2,900	12,800	6,600
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation
49,300	35,100	33,900	32,500	29,300	27,500	26,900	26,600	24,600	24,300	24,800	24,900	23,300	22,500	20,800	22,200	20,100	19,300	18,900	19,200	19,300	19,200	18,600
Amortization of intangible assets
50,000	8,700	8,800	10,200	10,400	9,600	8,600	7,700	7,500	8,000	6,600	8,600	9,400	7,900	8,700	10,200	9,300	9,300	9,300	10,400	11,400	11,600	11,600
Amortization of deferred financing costs and other
2,000	-2,900	4,500	1,000	1,700	500	1,200	1,000	1,200	1,200	1,200	1,200	1,100	1,100	1,100	2,800	7,500	7,700	2,600	2,600	2,600	2,500	2,600
Provision for losses on accounts receivables
21,400	4,800	4,100	-900	4,100	4,800	3,500	100	4,500	4,700	2,800	-2,400	1,600	3,700	3,100	-500	1,800	3,300	2,900	300	1,600	2,600	2,100
Expense related to modification of debt
-	-	-	-	-	-	-	-	-	-	-	-	-	0	-100	-	-	-	-	-	-	-	-
Stock compensation expense
5,200	4,400	4,400	3,900	3,800	4,200	3,800	3,600	3,500	11,100	3,400	5,200	4,000	3,900	4,200	3,600	4,800	7,700	1,100	300	400	300	200
Deferred income tax (benefit) expense
800	0	-5,600	9,100	7,200	-1,800	-2,900	39,800	-600	-35,100	-2,700	9,700	600	-2,200	-1,800	1,000	4,600	-4,300	-1,700	-3,500	4,200	-4,500	-2,300
Change in fair value of derivative assets and liabilities
-	-	-	-	-	-	-	100	-100	100	100	100	-100	1,100	700	1,300	900	-200	-1,200	1,100	100	-2,800	-200
Gain on assets held for sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	900
Other non-cash activities
-19,100	-9,400	100	200	700	-1,100	500	-300	-900	-8,100	800	500	1,700	-800	-300	-	-	-	-	-	100	200	100
Changes in operating assets and liabilities, net
Accounts receivable
-204,600	8,000	3,700	-13,400	39,300	26,000	-1,700	-4,800	37,500	-18,900	20,100	-18,100	38,700	-22,200	37,300	-10,900	7,700	24,700	-20,300	11,200	26,900	13,900	84,300
Inventories
168,200	-61,800	54,300	37,100	-12,500	19,800	54,000	-2,400	9,900	9,300	5,000	6,100	3,300	24,800	29,600	21,300	-19,700	-4,700	32,700	1,200	-5,600	-5,700	43,600
Prepaid expenses and other assets
36,800	3,300	-12,900	5,900	7,300	-24,700	-7,500	34,500	-5,200	19,500	-4,500	4,000	-1,800	-9,900	-2,600	17,500	5,200	8,000	4,200	-7,700	7,800	5,500	2,600
Trade accounts payable
96,900	-146,600	57,400	13,200	104,800	-103,800	66,400	-49,400	135,900	-21,800	-7,600	-19,900	64,900	-75,600	7,400	-11,900	97,100	-26,600	-40,800	17,300	61,400	-33,700	24,100
Outstanding checks in excess of deposits
-363,300	77,300	-19,000	-69,100	-5,500	97,100	-76,400	67,500	11,900	-23,600	-13,200	3,700	24,400	80,600	-50,900	56,700	-45,300	7,800	12,500	-16,900	7,400	22,100	-3,600
Accrued expenses and other liabilities
19,000	-8,300	4,800	23,400	37,200	-23,500	18,300	3,200	16,000	-28,300	-400	20,800	19,300	-22,100	-15,400	21,100	-7,600	21,600	-27,500	40,500	-4,000	11,400	-11,300
Net cash provided by operating activities
-140,200	73,600	84,200	56,900	190,500	37,700	32,300	137,400	197,000	16,600	16,000	99,700	127,500	49,700	-75,200	110,100	107,700	36,600	-25,900	99,000	77,900	33,200	-82,700
Purchases of property, plant and equipment
52,100	26,200	22,800	46,000	33,000	35,100	25,000	66,900	34,700	22,000	16,500	33,600	26,700	45,100	34,800	51,700	25,100	25,200	17,700	34,900	24,800	21,600	17,300
Net cash paid for acquisitions
-	-	-	153,900	700	25,500	31,500	200	7,700	0	63,200	48,000	62,800	67,300	14,800	-1,200	31,000	300	8,900	-	-	-	-
Increase in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	5,100
Proceeds from sale of property, plant and equipment
300	200	300	300	300	500	200	1,200	300	200	100	400	500	100	100	400	100	400	200	500	400	400	200
Net cash used in investing activities
-2,040,800	-26,000	-22,500	-199,600	-33,400	-60,100	-56,300	-65,900	-42,100	-21,800	-79,600	-81,200	-89,000	-112,300	-49,500	-50,100	-56,000	-25,100	-26,400	-34,400	-24,400	-21,600	-20,300
Cash flows from financing activities:
Proceeds from sale of assets held for sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	1,900
Net borrowings (payments) under ABL Facility
1,023,000	-23,600	-49,000	160,600	-147,100	28,900	36,500	-76,300	-159,900	49,800	66,600	-16,100	-41,800	68,100	124,700	-101,900	158,500	-14,800	57,500	-59,600	-49,500	-9,400	104,600
Payments on financed property, plant and equipment
300	1,000	400	400	400	1,200	3,400	400	900	500	100	-	-	-	-	-	-	-	-	-	-	-	-
Payments on Term Facility
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	308,300	201,800	224,900	1,900	1,900	1,800	1,900	1,900
Borrowing of Notes due 2027
0	0	1,060,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid for acquisitions
6,200	500	500	2,200	400	0	3,100	600	1,000	6,800	600	-	-	-	-	-	-	-	-	0	100	0	100
Payments under finance lease obligations
6,300	6,000	4,600	3,900	3,700	3,200	2,400	1,800	1,900	1,700	1,500	-	-	-	-	600	600	1,100	1,100	700	800	900	700
Proceeds from sale-leaseback transaction
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	100	3,400
Proceeds from exercise of stock options
2,100	1,200	1,400	400	900	2,700	2,600	5,200	6,400	500	200	-	-	-	-	1,200	0	0	100	-	-	-	-
Cash paid for shares withheld to cover taxes
300	1,700	5,900	0	1,400	1,200	4,900	200	200	26,700	1,100	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid for debt issuance, extinguishment and modifications
35,300	1,500	700	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
-	-	-	-	-	-	-	-	100	-200	-1,100	-	-200	-800	-2,000	-	-	-	-	-	-	-	-
Net cash provided by (used in) financing activities
1,462,300	-33,100	1,000,300	149,700	-156,800	21,400	25,300	-74,200	-157,400	8,400	62,400	-18,000	-42,600	65,400	122,700	-67,100	-50,000	-14,000	54,600	-62,200	-52,200	-13,700	105,300
Net increase in cash and restricted cash
-718,700	14,500	1,062,000	7,000	300	-1,000	1,300	-2,700	-2,500	3,200	-1,200	500	-4,100	2,800	-2,000	-7,100	1,700	-2,500	2,300	2,400	1,300	-2,100	2,300
Debt assumed through finance lease obligations
27,400	25,700	26,800	8,100	35,900	39,100	15,000	8,200	2,300	6,900	800	-	-	-	-	-	-	-	-	-	-	-	-
Disposal of property, plant and equipment under sale-leaseback transaction
-	-	-	-	-	-	-	-	-	-	-	0	0	0	3,200	-	-	-	-	-	-	-	-
Purchases of property, plant and equipment, financed
300	400	900	400	400	400	2,200	300	700	400	2,800	-	-	-	-	-	-	-	-	-	-	-	-
Interest
14,100	21,500	11,900	22,100	11,600	21,400	10,600	20,200	9,200	19,200	8,900	20,400	7,500	17,800	5,400	15,400	14,300	21,500	18,200	13,600	27,100	14,900	18,000
Income taxes paid, net of refunds
700	25,300	2,500	7,600	3,300	-300	200	7,700	500	23,800	1,300	18,800	16,700	10,000	200	17,700	9,700	25,200	4,200	15,300	4,600	21,000	400