POLARIS INC. PII Cash Flow

Polaris inc. (PII)

CashFlow / Quarterly

Mar'20	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	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	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10
Operating Activities:
Net income
-5,400	88,388	88,141	48,400	91,474	95,529	92,540	55,714	31,474	81,888	62,041	-2,911	62,581	32,312	71,166	46,889	110,682	155,173	100,943	88,563	135,397	140,826	96,905	80,901	108,680	113,144	80,004	75,464	88,064	94,345	69,823	60,078	63,899	67,637	48,729	47,310	54,522	47,221	25,624	19,771
Adjustments to reconcile net income to net cash used for operating activities:
Depreciation and amortization
62,400	61,057	57,546	54,400	55,126	57,326	45,864	52,720	53,003	46,981	46,586	44,538	45,609	43,794	40,215	37,894	39,236	40,530	35,291	37,081	36,466	34,260	28,712	28,069	27,736	25,085	19,373	19,906	19,091	18,812	15,870	16,807	15,698	15,697	16,213	18,782	16,903	18,054	15,525	16,037
Noncash compensation
11,900	22,326	22,133	12,100	20,747	10,218	20,969	12,032	15,805	2,833	19,080	12,336	14,790	4,755	22,876	15,506	8,287	19,190	17,358	17,094	15,976	18,934	15,488	12,785	11,589	12,261	23,692	10,351	8,456	8,626	11,272	7,066	5,733	5,142	5,083	4,590	4,592	4,139	5,762	3,559
Noncash income from financial services
7,800	8,239	7,765	7,700	7,898	7,606	7,623	7,003	6,896	6,803	6,240	7,088	7,762	7,526	7,425	7,403	7,595	8,053	6,963	6,794	7,867	6,275	2,960	1,543	1,543	1,056	1,332	1,052	1,420	880	856	743	1,046	1,126	1,094	1,178	1,261	1,020	1,089	1,204
Deferred income taxes
800	-3,231	-4,603	-1,300	27,611	-2,467	-1,817	113	76,317	1,380	-6,648	2,565	-17,922	-3,258	-5,791	915	-11,063	-4,773	-6,375	5,868	-39,473	-3,125	-5,528	-2,262	4,889	-4,425	-5,186	-1,170	-23,624	-2,049	-1,222	-2,006	-10,542	622	-5,624	-1,402	-12,465	-8,192	1,303	2,466
Excess tax benefits from share-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	353	1,438	5,387	27,476	10,797	14,230	3,055	8,884	6,374	12,379	4,489	5,379	12,082	7,360	3,966	6,484	-	-	-	-	-	-	409	3,998
Impairment charges
-	-	-	-	2,547	1,467	1,516	18,733	0	6,635	0	18,760	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other, net
0	514	461	600	1,129	-1,356	2,438	-10,700	-1,438	1,603	1,336	1,900	1,435	8,386	1,583	2,058	2,086	1,345	281	3,090	3,225	1,036	967	896	5,785	631	586	412	179	0	0	0	-	-	-	-	173	285	275	643
Changes in operating assets and liabilities:
Tax effect of share-based compensation exercises
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2,452	-	-	-	-
Trade receivables
-18,000	-3,328	15,741	11,200	-21,677	6,317	10,261	-15,587	16,617	12,817	-10,998	-1,372	3,656	9,058	19,453	-34,197	-26,098	27,821	-23,772	-26,749	54,653	22,420	-16,862	-36,037	29,344	6,414	7,904	10,393	-22,685	258	-3,096	23,110	5,552	-26,331	13,618	30,276	-8,856	1,512	5,303	930
Inventories
121,500	145,171	-20,910	180,000	-51,528	54,568	10,811	135,850	-56,663	24,200	10,472	48,949	-145,803	61,409	-13,234	-14,371	35,949	-24,586	71,299	66,063	-10,251	32,404	73,113	63,210	-42,061	28,349	38,864	26,897	-73,883	49,244	47,419	13,249	-46,501	57,555	33,524	5,395	-43,851	57,170	42,292	1,001
Accounts payable
106,300	167,177	-19,151	91,200	-91,826	45,007	-2,303	48,138	-68,682	32,622	2,485	73,091	-68,395	-39,896	55,534	-9,936	-81,097	81,768	-6,333	-40,433	3,567	53,550	28,939	19,727	-42,578	42,885	4,870	46,342	-60,118	35,867	10,170	35,452	-45,975	40,253	14,378	18,576	-24,807	36,007	12,315	14,065
Accrued expenses
-116,200	56,343	94,650	-75,700	5,550	37,313	40,029	-75,722	13,608	74,543	53,590	-47,184	54	140,297	36,744	-31,834	-4,439	59,390	14,062	-59,831	30,525	53,734	28,347	-81,942	32,607	104,776	-3,282	-80,823	39,720	68,985	22,800	-92,236	53,425	25,429	54,849	-53,035	55,332	56,729	39,960	-44,658
Income taxes payable/receivable
-18,800	-11,093	18,473	12,300	-33,205	8,887	5,081	14,747	-38,926	21,609	44,528	-3,801	-1,719	-28,805	7,223	21,304	-54,636	35,568	-14,420	33,241	34,214	17,374	-41,576	35,312	-28,934	41,974	-1,105	21,463	14,935	8,388	-3,266	31,063	-6,162	7,952	-15,492	12,359	10,119	-5,561	1,518	957
Prepaid expenses and others, net
1,100	1,678	14,002	-18,700	21,486	-5,556	7,284	-8,302	25,998	-7,778	1,270	-2,400	5,264	223	6,631	-15,047	15,028	1,372	-4,754	6,864	7,996	-8,262	3,822	11,139	7,229	13,617	10,623	450	8,147	-883	-2,733	13,300	1,902	-9,392	5,470	3,095	4,499	-8,138	782	1,901
Net cash provided by operating activities
-71,400	233,279	241,052	-38,200	122,974	188,989	168,338	-3,189	88,313	234,052	216,014	47,029	163,384	77,961	209,275	139,008	-23,771	374,093	85,684	4,225	148,835	249,522	86,166	44,747	111,075	277,651	55,740	47,774	161,622	176,115	79,035	-662	104,451	136,307	56,988	4,784	140,706	99,931	53,176	3,806
Investing Activities:
Purchase of property and equipment
46,800	52,133	67,003	70,200	67,651	53,194	49,011	55,558	57,741	44,844	43,412	38,391	53,777	37,732	62,795	54,833	100,487	60,335	57,879	30,784	58,606	44,866	61,904	39,703	59,051	98,630	53,607	40,113	37,279	24,213	20,634	20,957	22,010	21,873	21,633	18,968	20,678	14,115	12,799	8,126
Investment in finance affiliate, net
-6,000	-1,482	-10,021	-200	34,496	-11,771	-10,180	-256	68,460	-22,445	-7,086	-13,699	37,864	-9,193	-13,464	-6,566	45,314	-6,988	-15,585	346	41,062	-2,356	-6,802	678	21,342	1,935	-2,419	-1,607	15,610	4,948	-3,385	1,227	15,882	579	-4,043	170	-	-	-	-
Investment in other affiliates, net
-	-	-	-	8,479	0	3,817	-11,183	-6,485	5,296	120	1,694	4,734	0	2,453	4,408	2,511	5,287	1	10,049	4,129	4,158	4,158	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-6,654	-5,114
Acquisition of businesses, net of cash acquired
-	-	-	-	-	-	-	-	0	0	-1	-1,644	668,875	0	0	54,830	14,176	0	27,019	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,238	0	0	2,500
Net cash used for investing activities
-40,800	-50,651	-58,782	-70,000	-101,377	-771,348	-42,648	-44,119	-62,214	-27,695	-36,445	-24,742	-721,430	-28,539	-51,784	-107,505	-119,961	-58,634	-69,314	-41,179	-83,274	-46,668	-76,459	-40,381	-75,546	-100,565	-192,068	-38,506	-87,075	-36,161	-17,632	-22,184	-54,005	-22,452	-45,550	-19,138	-25,345	-5,116	-6,145	-5,512
Financing Activities:
Borrowings under debt arrangements / finance lease obligations
939,400	865,522	778,496	1,010,200	707,549	1,333,878	817,409	694,401	563,362	691,260	454,069	478,248	1,464,865	564,620	631,820	570,832	475,757	673,655	664,331	817,324	225,071	468,942	799,606	652,838	774,987	250	1,313	119	205	264	649	1,319	-	-	-	-	-	-	-	-
Repayments under debt arrangements / finance lease obligations
469,200	978,159	983,007	870,500	608,794	659,838	732,521	578,342	571,226	839,377	566,484	444,386	757,444	596,979	693,887	504,450	325,769	756,613	579,792	723,306	225,165	606,212	763,323	633,887	594,712	907	1,123	750	5,341	715	656	766	-	-	-	-	-	-	-	-
Repurchase and retirement of common shares
48,800	460	337	6,200	101,732	54,564	177,380	14,987	1,584	23,255	43,815	21,807	91,435	10,505	58,927	84,949	45,821	90,056	71,472	86,267	77,842	25	3,701	244	498,126	38	6,182	25,687	68,547	10,344	42,763	5,871	69,910	29,606	1,892	30,964	0	88	232	27,166
Cash dividends to shareholders
38,000	37,292	37,330	37,100	36,284	37,054	37,898	37,796	36,500	36,311	36,228	36,384	34,604	35,149	35,153	35,430	34,477	34,747	34,947	35,114	31,904	31,589	31,696	31,719	27,240	28,995	28,825	28,662	25,525	25,260	25,421	25,328	15,438	15,472	15,360	15,315	13,505	13,249	13,193	13,096
Excess tax benefits from share-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	353	1,438	5,387	27,476	10,797	14,230	3,055	8,884	6,374	12,379	4,489	5,379	12,082	7,360	3,966	6,484	-	-	-	-	3,108	3,095	409	3,998
Tax effect of proceeds from share-based compensation exercises
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,452	-	-	-	-
Proceeds from stock issuances under employee plans
2,300	1,952	3,013	3,200	213	3,710	31,543	11,905	28,512	7,199	2,706	4,321	2,039	3,893	2,771	8,987	5,863	1,539	6,123	19,010	8,343	9,976	3,629	9,365	9,088	7,615	5,224	4,995	16,238	10,768	8,161	6,529	17,649	4,922	14,078	9,005	24,452	13,666	7,862	22,125
Net cash (used for) provided by financing activities
385,700	-148,437	-239,165	99,600	-39,048	586,132	-98,847	75,181	-17,436	-200,484	-189,752	-20,008	585,591	-72,712	-153,376	-45,010	75,906	-204,784	-10,370	19,123	-90,700	-144,678	7,570	5,237	-329,629	-9,696	-25,104	-44,606	-70,888	-17,927	-56,064	-17,633	-60,273	-36,689	-95,732	-34,822	14,055	3,424	-5,154	-14,139
Impact of currency exchange rates on cash balances
-4,900	-2,980	888	-1,000	-3,626	466	-8,226	1,856	219	2,646	2,948	4,003	-5,071	-647	-3,245	3,921	-2,089	-4,230	1,814	-8,764	-6,279	-8,198	-26	-62	-1,456	2,740	-1,644	-927	458	1,577	-1,934	1,032	-584	-3,593	547	1,170	-	-	-	-
Noncash Activity:
Leased assets obtained for operating lease liabilities
7,400	-	-	4,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Property and equipment obtained through capital leases and notes payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	14,500	0	0	0	24,908	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Supplemental Cash Flow Information:
Interest paid on debt borrowings
17,400	22,185	18,548	23,000	17,796	16,205	9,387	7,626	8,916	6,502	9,421	6,045	7,102	2,194	5,558	979	4,486	1,085	4,853	1,027	4,436	968	4,994	861	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income taxes paid
8,500	34,041	11,973	2,900	33,821	19,564	18,807	1,807	46,890	4,153	-8,438	3,703	44,010	47,823	28,395	6,571	102,892	54,953	74,037	12,446	81,842	70,136	99,552	10,020	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net increase in cash, cash equivalents and restricted cash
268,600	31,211	-56,007	-9,600	-21,077	4,239	18,617	29,729	8,882	8,519	-7,235	6,282	22,474	-23,937	870	-9,586	-69,915	106,445	7,814	-26,595	-31,418	49,978	17,251	9,541	-295,556	170,130	-163,076	-36,265	4,117	123,604	3,405	-39,447	-10,411	73,573	-83,747	-48,006	129,416	98,239	41,877	-15,845