Papa johns international inc (PZZA)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jul'18Apr'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10Mar'10Dec'09Sep'09Jun'09Mar'09
Operating activities
Net income (loss) before attribution to noncontrolling interests

8,993

-1,678

257

8,676

-1,598

-13,225

-12,747

11,959

18,086

28,975

22,669

24,982

29,899

34,279

22,650

24,112

28,051

26,281

18,976

12,468

24,239

22,355

16,962

17,839

20,541

19,737

14,878

18,045

20,319

18,409

13,825

15,461

18,307

16,845

11,940

13,053

17,549

17,510

7,848

13,192

16,875

17,454

11,739

14,177

17,839

Current period provision for expected credit losses

768

1,493

970

726

-50

2,802

456

2,052

1,539

382

738

-674

-417

256

-94

31

216

419

182

-28

659

81

778

791

145

791

350

466

314

424

531

172

547

155

889

-46

39

-340

544

216

497

-225

286

684

1,497

Depreciation and amortization

12,295

12,179

11,832

11,521

11,749

11,548

11,585

11,731

11,539

11,376

11,181

10,654

10,457

10,598

10,614

10,031

9,744

9,669

10,461

10,136

10,041

10,426

10,520

9,855

9,164

9,433

8,605

8,530

8,537

8,575

8,192

8,104

7,927

7,970

7,974

8,425

8,312

8,285

8,067

8,175

7,880

8,103

7,745

7,795

7,803

Deferred income taxes

1,185

-1,378

710

-1,787

-1,309

1,847

2,284

-507

-2,004

-785

1,125

-857

1,015

6,658

1,180

-3,355

7,141

1,379

-4,561

-3,028

-36

-3,265

1,389

128

6,170

-1,146

-1,262

4,931

3,325

1,611

-1,373

2,709

-912

4,690

887

1,668

2,664

5,403

-600

-2,151

1,901

1,879

2,859

501

2,230

Preferred stock option mark-to-market adjustment

-

0

0

0

5,914

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Stock-based compensation expense

3,950

3,008

4,764

3,800

3,731

2,863

2,144

2,454

2,475

2,319

2,523

2,835

2,736

2,598

2,632

2,721

2,172

2,299

2,139

2,721

2,264

2,754

2,346

1,422

2,190

1,767

1,858

2,103

1,681

1,973

1,714

1,524

1,694

1,438

1,363

2,108

1,795

1,575

942

1,876

1,673

1,559

1,651

1,686

921

(Gain) loss on refranchising

-

-

-

-

-

1,629

0

-2,122

204

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefit on equity awards

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

603

2,990

4,900

-

305

2,661

1,142

250

246

1,342

129

165

173

296

107

117

0

35

207

-

-

-

-

Other

-234

415

-1,619

-1,161

-838

1,275

-3,920

-1,129

-1,903

-371

-1,026

-1,209

-769

-526

-928

-782

-1,101

-1,365

-1,029

-1,059

-1,180

157

-1,646

-1,160

-1,110

-1,507

-566

-874

180

1,145

-1,503

-2,576

-296

-1,800

-956

-273

-43

17

65

-38

-330

-2,514

632

333

478

Changes in operating assets and liabilities:
Accounts receivable

1,839

-2,827

7,064

-2,351

3,443

8,926

-11,231

2,823

-2,675

2,227

4,776

-693

1,048

2,310

2,813

-223

-6,457

7,185

3,676

-2,994

1,312

-1,120

10,261

-4,254

854

6,392

5,162

-1,123

627

12,030

5,943

-2,595

2,670

1,227

1,904

-1,844

3,011

928

2,330

-1,483

3,247

-281

863

-852

115

Income tax receivable

-932

-1,881

1,458

-984

-10,715

4,734

11,101

221

-3,899

3,326

-1,840

2,417

-2,372

945

-1,027

89

-4,107

-10,675

-10,012

7,180

-5,899

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Inventories

2,281

2,217

-1,565

484

-810

-2,107

2,202

-995

-2,193

2,251

3,784

1,875

-2,425

966

1,796

265

612

-2,789

1,296

-2,431

-1,043

-6,954

2,497

4,085

3,210

117

1,196

-2,200

1,744

759

1,721

589

-1,122

2,890

1,618

-1,847

28

1,323

823

216

-514

-1,425

1,197

1,188

-2,056

Prepaid expenses

-6,118

11,134

-3,027

-1,011

-7,888

9,136

-6,938

-604

-555

13,676

-6,296

608

-3,574

8,581

-2,207

-610

-1,938

4,458

-1,034

1,756

-2,755

6,855

-2,281

1,739

-1,919

1,963

1,590

1,238

-3,238

5,338

-3,104

1,153

-815

6,020

-3,774

-56

324

2,612

-2,868

573

986

2,987

-3,481

56

-157

Other current assets

532

-17,012

3,007

427

13,855

-1,300

1,990

-6,788

1,264

-139

925

238

134

256

397

-1,583

314

-462

-74

-596

303

74

161

-52

204

1,329

92

179

-142

2,039

383

-1,575

820

386

-574

63

-85

365

-275

-376

270

-71

-58

-1,418

-462

Other assets and liabilities

-2,670

3,109

1,151

-1,164

3,258

-6,374

2,708

2,677

-475

-3,350

2,533

-18

1,577

3,184

1,361

1,110

614

199

-1,592

619

154

2,972

-3,904

-778

795

474

1,300

1,992

-38

3,112

1,596

404

-1,160

2,600

-184

-1,537

721

19

68

-316

645

5,684

-1,142

-265

-80

Accounts payable

4,604

-12,886

9,511

-2,698

8,108

-2,501

-410

-52

2,563

-6,263

1,470

1,289

-5,239

5,374

2,364

1,353

-10,007

8,184

497

-49

-3,828

4,551

554

-623

-1,311

1,572

5,353

-3,490

-406

-1,448

1,693

-2,574

1,987

-2,499

5,866

2,848

-4,818

6,698

-1,268

354

-1,205

1,780

807

-1,024

-3,339

Income and other taxes payable

568

-276

720

-181

746

-2,374

59

-1,190

-466

118

504

-6,542

7,817

-3,372

-322

3,426

277

-1,488

303

-95

167

-1,201

5,011

-1,845

3,268

-1,516

4,511

-10,265

1,243

212

6,173

-9,775

9,850

-843

2,698

-4,549

4,874

-5,019

970

-2,841

7,370

-6,920

-543

-3,940

7,780

Accrued expenses and other current liabilities

-1,903

7,818

-1,852

-6,294

-11,003

-1,352

25,611

1,253

-3,759

217

-227

2,162

-5,164

-1,476

4,941

5,313

-16,738

693

5,013

17,786

-2,291

4,498

-1,193

2,988

-6,958

681

2,653

-1,229

-4,641

4,951

3,961

2,076

1,221

-4,273

1,383

-1,907

296

1,094

-269

-892

-4,540

1,009

2,655

2,161

-5,487

Deferred revenue

-2,028

1,475

-893

-998

-2,170

3,733

-2,239

3,853

-3,474

-335

-73

-97

-156

-176

83

394

934

-160

-23

297

-74

-354

-415

-98

403

-132

-266

100

-183

-428

177

114

3,698

652

-154

-597

-327

118

382

355

73

3

106

-80

-277

Long-term accrued income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-348

37

366

-

-

-

-

-

-

-

-

Net cash provided by operating activities

33,734

11,750

17,824

18,362

13,813

-12,578

30,831

37,470

36,731

20,058

37,054

30,534

47,329

28,801

41,843

45,760

33,853

50,725

41,756

37,733

40,249

37,806

30,261

27,887

26,678

26,527

27,601

17,318

29,914

9,606

29,611

21,069

44,093

13,792

34,291

26,238

26,687

30,422

16,473

19,673

26,013

21,560

27,730

22,611

31,925

Investing activities
Purchases of property and equipment

5,933

10,164

9,711

9,178

8,658

11,435

9,031

12,242

9,320

9,398

12,738

15,393

15,064

16,600

14,953

13,752

10,249

12,464

10,007

8,943

7,558

10,955

11,461

15,102

11,137

12,213

13,044

12,245

13,248

16,203

11,379

8,643

6,403

8,672

8,225

7,599

4,823

7,517

6,737

7,746

9,125

12,536

5,809

10,129

5,064

Purchase of investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

1,090

97

Proceeds from sale or maturity of investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

26

61

-1

241

-

-

-

-

Loans issued

7,413

8,791

2,316

3,898

859

6,952

1,607

1,341

563

5,727

900

761

715

994

586

713

917

2,244

926

1,065

506

1,595

2,579

884

1,758

2,265

727

1,355

1,748

952

2,745

519

687

894

914

1,519

165

901

1,276

150

310

58

1,838

5,751

3,988

Repayments of loans issued

3,790

2,201

1,181

1,309

925

1,933

1,152

1,084

1,636

1,034

1,026

1,262

863

2,120

1,067

4,107

1,275

1,222

1,174

1,704

1,083

883

1,491

716

1,164

3,381

779

992

1,916

1,022

890

1,027

703

815

622

2,452

1,468

1,474

501

1,364

579

3,100

3,957

932

507

Acquisitions, net of cash acquired

-

-

-

-

-

-

-

-

-

0

0

0

21

2,150

0

0

11,202

431

0

150

341

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from divestitures of restaurants

-

-

-

-

-

0

4,017

0

3,690

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

-1

-821

-500

-239

-329

-20

-14

-32

-114

-9

0

-18

-7

-236

-28

-6

-159

-94

-58

-328

-20

-531

-22

4

-7

-15

-5

0

-319

-32

-8

9

-5

-

-

-

-

-2

1

-1

-10

-648

-90

182

-200

Net cash used in investing activities

-9,555

-8,433

-4,576

-11,303

-8,263

-16,434

-5,455

-12,467

-4,443

-14,082

-12,612

-14,874

-14,930

-544

-14,444

-10,352

-20,934

-13,823

-9,701

-8,126

-7,302

-11,245

-13,612

-18,453

-11,724

-11,082

-12,987

-12,608

-12,761

-16,261

-13,373

-13,104

-6,382

-8,845

-8,506

-6,615

-3,520

-6,943

-6,065

-7,044

-8,605

-8,736

-3,375

-15,854

-8,442

Financing activities
Proceeds from issuance of preferred stock

-

0

0

0

252,530

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of term loan

5,000

5,000

0

5,000

5,000

5,000

5,000

5,000

5,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net proceeds (repayments) of revolving credit facility

640

-3,060

-6,190

9,250

-240,026

42,109

2,076

-20,908

140,308

75,000

-305,731

10,731

-5,575

-11,800

-5,000

-125

61,500

17,000

5,000

3,000

549

5,767

14,684

32,833

19,267

37,900

-13,241

24,331

20,652

38,258

0

0

-1,489

1,489

2,000

0

-51,000

-

-

-

-

-

-

-

-

Dividends paid to common stockholders

7,237

7,181

7,102

7,144

7,125

7,124

7,099

7,197

7,565

7,834

8,183

7,349

7,354

7,373

7,393

6,502

6,628

6,894

6,867

5,538

5,545

5,616

5,715

5,164

5,240

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Dividends paid to preferred stockholders

3,412

3,392

1,138

3,430

2,040

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Issuance costs associated with preferred stock

-

-

285

71

7,179

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net repayments from line of credit facility

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-4,000

0

-20,500

Net repayments from short-term debt - variable interest entities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-3,600

-3,975

1,375

Excess tax benefit on equity awards

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

396

4,397

5,091

1,789

603

2,990

4,900

647

305

2,661

1,142

250

246

1,342

129

165

173

296

107

117

0

35

207

-

-

-

-

Tax payments for equity award issuances

1,383

283

255

26

869

47

121

11

1,342

17

129

23

2,259

25

168

161

5,670

18

293

5,097

5,557

1,695

42

4,265

3,233

1,722

21

998

843

9

24

519

303

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from exercise of stock options

1,241

15,668

239

42

51

108

413

409

1,770

326

756

1,970

3,248

1,683

2,565

1,890

922

628

654

1,705

2,210

1,085

1,391

372

2,989

2,672

497

992

2,704

865

999

6,672

3,728

3,061

318

9,349

1,314

1,106

179

1,192

3,933

175

1,598

1,932

6,125

Acquisition of Company common stock

-

-

-

-

-

0

9,609

6,704

141,736

87,881

87,737

20,893

13,075

12,974

13,052

30,322

66,033

39,627

28,083

27,318

24,765

23,248

30,848

30,504

32,800

49,432

10,331

26,684

32,122

41,949

25,418

24,908

13,820

15,744

23,417

22,043

4,119

3,721

18,798

19,148

5,269

23,519

0

0

4,958

Contributions from noncontrolling interest holders

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

100

400

100

350

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Distributions to noncontrolling interest holders

30

225

462

164

19

341

2,818

678

432

843

3,217

687

702

1,780

630

2,220

980

2,283

600

1,962

1,705

1,600

600

300

300

450

1,450

750

1,000

-

-

-

-

540

1,100

300

1,729

-

-

-

-

-

-

-

-

Noncontrolling interests, net of contributions and distributions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,365

221

909

-

-1,053

537

625

Other

-350

-425

-269

118

50

80

45

48

183

83

86

98

396

75

90

97

294

67

58

66

253

68

130

70

223

174

-33

-580

112

51

49

43

82

63

55

52

-10

-8

-10

124

-10

-6

-8

-9

-4

Net cash used in financing activities

-15,531

-3,900

-15,462

-5,585

-9,627

27,871

-22,113

-40,041

-13,814

-23,250

-7,336

-16,153

-25,321

-31,504

-23,588

-37,343

-16,595

-40,327

-29,735

-30,747

-29,469

-23,450

-19,411

-3,868

-14,194

-15,494

-29,288

-928

-9,005

-2,307

-24,649

-19,300

-11,673

-11,506

-22,214

-13,444

-55,437

-5,418

-19,994

-17,576

-230

-28,126

-6,519

-1,072

-17,337

Effect of exchange rate changes on cash and cash equivalents

-183

126

-74

-91

92

-123

-6

-181

119

76

190

25

74

-297

30

-71

-58

-10

-326

63

-76

-137

-61

17

-42

30

127

-97

7

5

139

-152

132

25

-15

88

-6

-16

56

106

-84

19

168

-2

-9

Change in cash and cash equivalents

8,465

-457

-2,288

1,383

-3,985

-1,264

3,257

-15,219

18,593

-17,198

17,296

-468

7,152

-3,544

3,841

-2,006

-3,734

-3,435

1,994

-1,077

3,402

2,974

-2,823

5,583

718

-19

-14,547

3,685

8,155

-8,957

-8,272

-11,487

26,170

-6,534

3,556

6,267

-32,276

18,045

-9,530

-4,841

17,094

-15,283

18,004

5,683

6,137