PIPER SANDLER COMPANIES PJC Cash Flow

Piper sandler companies (PJC)

CashFlow / TTM

Mar'20	Dec'19	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/(loss)
77,113	118,174	96,389	78,264	64,017	55,830	-9,323	-82,406	-72,137	-59,552	-46,029	16,720	6,272	-13,746	34,783	28,062	39,866	58,482	57,309	69,190	73,241	74,325	91,324	81,873	61,323	50,484	31,129	43,813	51,415	43,734	-83,632	-107,337	-103,610	-100,557	24,625	34,767	30,839	23,930	0	0	0
Adjustments to reconcile net income/(loss) to net cash provided by operating activities:
Depreciation and amortization of fixed assets
9,600	9,360	9,170	8,970	8,747	8,358	8,108	7,840	7,552	7,252	7,029	6,808	6,655	6,410	6,079	5,706	5,301	5,058	4,980	4,961	5,066	5,269	5,406	5,610	5,706	5,714	5,869	6,168	6,537	7,005	7,335	7,385	7,450	7,338	7,168	7,195	7,139	7,204	0	0	0
Deferred income taxes
13,857	-11,323	-19,427	-11,975	-7,593	652	-42,530	9,245	11,678	3,372	79,722	30,906	23,543	31,023	16,277	17,816	24,685	20,959	12,323	9,500	8,823	10,843	-816	-12,639	-17,582	2,630	-11,581	-15,936	-8,371	-11,458	6,304	16,141	10,922	17,100	21,345	18,806	16,906	17,878	0	0	0
Stock-based compensation
49,448	32,003	31,203	35,970	39,665	44,285	45,418	46,177	44,125	39,831	38,597	42,974	50,589	55,977	61,701	51,905	45,062	48,754	38,589	37,608	37,145	28,764	31,653	30,597	26,178	21,598	17,121	20,046	21,598	20,641	16,221	12,554	13,499	22,803	36,242	31,094	33,413	31,268	0	0	0
Amortization of intangible assets
17,529	9,763	10,815	12,201	9,957	10,460	11,779	12,986	14,193	15,400	17,280	21,468	21,740	21,214	17,743	11,506	9,185	7,662	7,637	8,182	8,727	9,272	8,726	9,307	8,650	7,993	8,139	7,157	7,413	7,669	7,820	7,972	8,124	8,276	8,390	8,504	8,639	7,546	0	0	0
Amortization of forgivable loans
4,204	4,639	4,671	4,259	5,343	5,138	5,322	5,509	6,218	6,740	7,098	7,935	8,554	8,785	8,772	8,281	7,148	6,377	5,854	5,365	5,269	5,316	5,434	5,688	5,902	6,300	6,807	7,398	7,837	8,057	8,507	7,899	8,234	8,365	8,203	8,710	8,440	7,679	0	0	0
Decrease/(increase) in operating assets:
Cash and cash equivalents segregated for regulatory purposes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	19,008	10,001	20,023	56,011	-11,015	-11,993	-17,122	-18,001	13,021	17,003	-871	12,005	-8,003	10,008	29,006	5,999	24,005	-12,997	9,000	-1,998	-11,000	26,000	-3,000	18,000	0	0	0
Receivables:
Customers
-	-	-	-	-	-	-	-	-	-31,917	-87,587	-18,863	-4,952	-9,272	37,814	10,583	1,919	31,509	24,082	-25,181	6,715	-1,975	-5,706	44,481	2,282	-2,162	13,785	-31,824	-40,665	-10,395	-30,197	-37,298	-2,488	-18,706	-32,850	32,909	12,444	-28,885	0	0	0
Receivables from brokers, dealers and clearing organizations
-224,346	46,207	-354	-121,032	708	89,884	93,185	32,196	-147,984	-67,336	-88,547	86,797	9,438	64,781	-155,981	-65,973	-17,364	-13,060	34,218	8,121	-28,351	33,896	48,887	36,053	64,998	-21,004	72,848	-32,707	18,971	23,452	22,166	-61,224	-30,703	-66,655	-1,196	-36,419	-37,545	-73,263	0	0	0
Securities purchased under agreements to resell
-	-	-	-	-	-	-	-	-	-159,697	-145,598	6,419	113,913	24,591	-83,576	-40,669	-266,623	-171,182	-32,629	26,819	208,842	140,290	36,257	8,251	-18,331	22,442	139,260	35,281	15,445	-14,713	-107,496	-137,918	-51,987	-98,851	-64,202	19,669	-134,546	109,315	0	0	0
Net financial instruments and other inventory positions owned
-2,929	4,542	-87,260	-4,106	-246,180	-534,355	-198,058	-171,567	99,580	224,536	-82,944	-143,030	-223,511	7,835	123,554	-218,528	-131,634	-126,458	-13,620	24,947	156,204	27,042	-304,987	-50,114	-151,622	-4,685	134,536	95,174	254,664	360,317	107,552	338,594	218,536	-14,326	237,450	187,023	37,947	44,200	0	0	0
Investments
-11,091	6,255	3,258	19,940	-17,574	-24,109	-26,757	-8,149	10,327	8,418	17,584	-5,544	-10,379	10,881	11,280	11,887	33,366	38,558	33,718	49,651	14,655	14,797	20,020	10,681	37,102	26,271	18,992	22,851	16,714	17,444	27,024	7,679	13,720	8,239	3,054	27,763	22,549	19,501	0	0	0
Other assets
9,884	-117	24,440	3,106	-15,562	3,758	21,281	13,741	5,149	-3,937	4,909	12,734	22,430	20,992	-3,437	-11,221	-16,802	-3,602	7,496	16,156	22,939	-3,785	4,124	583	-576	3,727	-10,387	12,657	18,361	15,362	6,938	-3,192	-12,904	-6,779	18,818	13,372	12,039	7,819	0	0	0
Increase/(decrease) in operating liabilities:
Payables:
Customers
-	-	-	-	-	-	-	-	-	-29,352	-50,730	-19,133	-3,047	-8,012	1,381	16,003	9,719	24,036	13,405	-14,111	-5,296	-19,781	-4,834	12,813	-35,121	-8,898	-10,625	-3,156	40,349	12,592	14,815	-33,389	-30,436	-22,826	-26,129	18,090	24,556	3,690	0	0	0
Payables to brokers, dealers and clearing organizations
9,929	-1,143	-1,514	-3,663	-27,310	-10,735	-47,894	-37,610	-170,481	-21,450	-147,661	-89,401	33,132	-7,289	106,578	36,684	-5,523	22,567	11,004	-144,954	65,474	-2,158	-42,008	109,933	5,585	-33,559	-26,076	-43,314	-35,121	24,720	67,686	153,627	104,778	19,466	10,787	-24,715	12	-27,607	0	0	0
Securities sold under agreements to repurchase
-	-	-	-	-	-	-	-	-	-15,046	-14,155	-1,169	-4,416	-1,127	1,846	11,964	20,859	18,050	0	0	0	-	-	-	-	-	-	0	0	-	-12,340	-48,808	-22,878	-8,581	-37,947	50,241	14,631	-7,718	0	0	0
Accrued compensation
-88,429	-29,277	-50,452	10,469	24,068	-60,191	-25,363	5,328	16,670	110,190	86,631	49,727	9,791	30,396	433	-21,010	-2,083	2,178	-8,318	-700	2,786	67,247	84,399	71,292	41,982	32,233	4,083	4,474	1,677	23,424	11,552	-4,367	5,457	-27,225	146	6,453	2,292	-4,124	0	0	0
Other liabilities and accrued expenses
-4,711	-10,117	4,934	1,974	-11,614	-7,915	2,767	-71	4,024	6,650	11,967	-13,760	-12,820	-27,902	-142,181	5,863	-1,613	19,095	118,614	-16,446	2,063	-15,216	16,653	14,437	-5,789	-2,354	-5,700	6,423	7,140	18,945	-1,736	-36,204	-3,135	-38,685	-48,503	14,340	-11,329	7,833	0	0	0
Increase in assets held for sale
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2,596	-421	-134	-435	0	0	0	-	-	-	-	-	-	-	-
Decrease in liabilities held for sale
697	7,915	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2,879	-69	-136	-128	0	0	0	-	-	-	-	-	-	-	-
Net cash provided by operating activities
276,869	67,798	167,625	261,401	391,868	509,795	142,396	334,399	185,640	203,001	374,751	96,656	234,888	-3,225	132,196	441,068	480,351	379,524	208,687	-148,925	-178,230	-50,069	373,947	263,969	178,720	42,163	-310,224	-49,380	-189,828	-211,782	114,053	2,707	-25,645	205,333	-142,911	-93,996	226,486	-26,272	0	0	0
Investing Activities:
Business acquisitions, net of cash acquired
0	-	-	-	0	-	-	-	-	-	-	-	-	72,709	74,021	82,758	81,969	11,739	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	56	4,804	4,804	5,003	186,853	0	0	0
Purchases of fixed assets, net
7,454	6,516	8,511	12,700	15,665	15,804	15,967	11,190	7,798	7,994	7,967	9,806	11,442	11,017	8,988	6,615	5,349	5,914	6,403	8,681	8,676	7,387	7,489	6,634	5,853	5,476	4,968	1,547	285	2,131	1,534	4,985	7,577	7,648	9,320	13,351	12,942	11,747	0	0	0
Net cash used in investing activities
-345,616	26,691	25,753	-12,700	-15,665	-15,804	-15,967	-11,190	-7,798	-7,994	-9,657	-11,496	-13,921	-83,726	-83,009	-89,373	-85,818	-16,153	-12,390	-5,181	-6,676	-5,387	-6,739	-31,360	-30,329	-29,952	-29,444	-1,297	-285	-2,131	-1,534	-4,985	-7,577	-7,704	-14,124	-18,155	-17,945	-198,600	0	0	0
Financing Activities:
Increase in short-term financing
50,024	25	5	-1,744	-136,298	-239,984	-26,840	-278,717	-110,892	-128,895	-348,988	-171,423	-161,897	-27,358	10,038	1,433	-58,479	68,423	76,952	138,012	81,713	-136,944	-324,494	-180,407	26,791	37,697	216,817	114,145	66,341	308,313	255,486	198,983	212,412	-29,940	78,638	167,280	31,414	103,231	0	0	0
Decrease in bank syndicated financing
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	115,000	-34,012	-31,381	-13,750	-10,000	0	0	0	-	-	-	-
Decrease in securities loaned
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-25,988	0	0	0
Decrease in securities sold under agreements to repurchase
-	-	-	-	-	-	-	-	-	-	-	-	-	-27,269	-23,725	-46,369	-136,542	-75,377	-37,271	56,321	117,181	98,249	-11,941	-18,946	-130,251	-45,603	28,914	-123,515	53,050	-59,080	-300,196	-161,929	-160,301	-122,219	87,106	-5,060	-145,938	211,464	0	0	0
Payment of cash dividend
31,713	35,594	35,928	36,347	36,729	47,157	46,361	45,455	44,576	18,947	14,217	9,483	4,746	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Decrease in noncontrolling interests
14,614	15,810	13,007	8,206	7,174	6,275	786	9,960	3,750	-11,500	-12,839	-16,283	-14,352	9,064	20,265	-107,945	-101,337	-106,794	-109,469	14,108	-4,287	-9,001	-22,475	-9,529	31,648	85,119	102,320	99,780	70,474	22,208	11,039	15,164	28,165	25,957	0	0	0	-	-	-	-
Payments for Repurchase of Common Stock
28,150	50,584	89,582	96,215	93,833	70,903	32,080	26,798	22,490	25,481	25,496	32,314	71,202	70,859	97,114	89,732	109,804	132,925	106,530	107,383	46,074	10,854	12,078	39,772	64,879	71,462	74,597	45,369	45,689	47,164	48,763	49,157	23,310	26,529	23,197	38,305	68,126	57,819	0	0	0
Excess tax benefit from stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,081	1,014	263	-55	47	39	46	55	0	0	0	0	-	-	0	0	-	-	-	-
Reduced tax benefit from stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from stock option exercises
-	-	-	-	-	-	-	-	-	1,703	6,141	6,178	6,260	4,557	119	216	294	1,856	3,664	5,852	6,741	5,452	3,644	1,322	273	0	0	0	0	-	-	-	-	40	40	40	31	98	0	0	0
Net cash provided by/(used in) financing activities
179,775	104,657	-237,498	-251,100	-384,686	-476,769	-104,495	-341,010	-224,208	-233,120	-451,072	-294,675	-277,423	-111,561	-40,444	-192,375	-354,567	-188,959	-166,694	113,452	160,064	-52,017	-366,330	-247,069	-136,473	5,798	315,005	81,468	160,481	234,277	-116,446	-28,725	42,692	-162,691	164,098	137,515	-203,613	234,207	0	0	0
Currency adjustment:
Net decrease in cash and cash equivalents
110,337	199,654	-44,769	-2,589	-9,397	16,571	21,842	-17,210	-44,259	-36,581	-85,461	-210,031	-58,261	-200,558	7,323	158,147	39,758	174,043	29,101	-41,124	-25,453	-107,816	986	-14,053	12,320	18,312	-24,593	30,720	-29,734	20,347	-3,868	-31,133	9,372	34,808	6,817	25,741	5,293	9,173	0	0	0
Effect of exchange rate changes on cash
-691	508	-649	-190	-914	-651	-92	591	2,107	1,532	517	-516	-1,805	-2,046	-1,420	-1,173	-208	-369	-502	-470	-611	-343	108	407	402	303	70	-71	-102	-17	59	-130	-98	-130	-246	377	365	-162	0	0	0
Supplemental disclosure of cash flow information:
Interest
13,356	12,038	10,589	12,554	14,323	17,129	19,106	19,085	21,068	19,917	20,889	21,944	21,568	23,171	24,023	23,122	24,308	24,668	26,553	27,503	25,753	25,345	22,665	24,123	24,041	23,487	16,539	16,834	17,779	19,357	19,814	22,399	22,947	25,700	34,354	36,262	39,327	35,620	0	0	0
Income taxes
2,676	9,581	8,959	10,361	12,122	17,134	40,752	38,794	36,659	31,895	12,931	13,582	15,181	27,298	29,749	31,602	35,906	31,950	37,664	57,933	54,498	58,599	43,159	22,647	20,121	745	-307	-2,463	-3,000	-4,961	-7,420	-5,983	-5,011	14,982	21,467	22,152	23,759	5,388	0	0	0
Non-cash investing and financing activities
25,525 shares for the nine months ended September 30, 2016
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
103,598 shares for the year ended December 31, 2014
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,156	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Issuance of common stock for retirement plan obligations: 103,598 shares and 96,049 shares for the nine months ended September 30, 2014 and 2013, respectively
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	3,814	3,814	3,814	3,814	3,814	3,814	3,814	3,634	0	0	0
Issuance of restricted common stock for acquisition of Advisory Research, Inc.: 893,105 shares for the three months ended March 31, 2010
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
198,981 shares and 843,889 shares for the nine months ended September 30, 2017 and 2016, respectively
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	35,089	-	30,429	30,429	30,429	16,131	16,131	16,131	16,131	17,699	17,699	17,699	17,699	11,244	11,244	11,244	11,244	25,095	25,095	25,095	25,095	31,121	0	0	0