PAPA JOHNS INTERNATIONAL INC PZZA Cash Flow

Papa johns international inc (PZZA)

CashFlow / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jul'18	Apr'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	Dec'09	Sep'09	Jun'09	Mar'09
Operating activities
Net income (loss) before attribution to noncontrolling interests
16,248	5,657	-5,890	-18,894	-15,611	4,073	46,273	81,689	94,712	106,525	111,829	111,810	110,940	109,092	101,094	97,420	85,776	81,964	78,038	76,024	81,395	77,697	75,079	72,995	73,201	72,979	71,651	70,598	68,014	66,002	64,438	62,553	60,145	59,387	60,052	55,960	56,099	55,425	55,369	59,260	60,245	61,209	0	0	0
Current period provision for expected credit losses
3,957	3,139	4,448	3,934	5,260	6,849	4,429	4,711	1,985	29	-97	-929	-224	409	572	848	789	1,232	894	1,490	2,309	1,795	2,505	2,077	1,752	1,921	1,554	1,735	1,441	1,674	1,405	1,763	1,545	1,037	542	197	459	917	1,032	774	1,242	2,242	0	0	0
Depreciation and amortization
47,827	47,281	46,650	46,403	46,613	46,403	46,231	45,827	44,750	43,668	42,890	42,323	41,700	40,987	40,058	39,905	40,010	40,307	41,064	41,123	40,842	39,965	38,972	37,057	35,732	35,105	34,247	33,834	33,408	32,798	32,193	31,975	32,296	32,681	32,996	33,089	32,839	32,407	32,225	31,903	31,523	31,446	0	0	0
Deferred income taxes
-1,270	-3,764	-539	1,035	2,315	1,620	-1,012	-2,171	-2,521	498	7,941	7,996	5,498	11,624	6,345	604	931	-6,246	-10,890	-4,940	-1,784	4,422	6,541	3,890	8,693	5,848	8,605	8,494	6,272	2,035	5,114	7,374	6,333	9,909	10,622	9,135	5,316	4,553	1,029	4,488	7,140	7,469	0	0	0
Preferred stock option mark-to-market adjustment
-	5,914	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Stock-based compensation expense
15,522	15,303	15,158	12,538	11,192	9,936	9,392	9,771	10,152	10,413	10,692	10,801	10,687	10,123	9,824	9,331	9,331	9,423	9,878	10,085	8,786	8,712	7,725	7,237	7,918	7,409	7,615	7,471	6,892	6,905	6,370	6,019	6,603	6,704	6,841	6,420	6,188	6,066	6,050	6,759	6,569	5,817	0	0	0
(Gain) loss on refranchising
-	-	-	-	-	-289	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefit on equity awards
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	4,358	4,299	2,980	1,967	1,882	1,809	763	741	693	520	259	359	0	0	0	-	-	-	-
Other
-2,599	-3,203	-2,343	-4,644	-4,612	-5,677	-7,323	-4,429	-4,509	-3,375	-3,530	-3,432	-3,005	-3,337	-4,176	-4,277	-4,554	-4,633	-3,111	-3,728	-3,829	-3,759	-5,423	-4,343	-4,057	-2,767	-115	-1,052	-2,754	-3,230	-6,175	-5,628	-3,325	-3,072	-1,255	-234	1	-286	-2,817	-2,250	-1,879	-1,071	0	0	0
Changes in operating assets and liabilities:
Accounts receivable
3,725	5,329	17,082	-1,213	3,961	-2,157	-8,856	7,151	3,635	7,358	7,441	5,478	5,948	-1,557	3,318	4,181	1,410	9,179	874	7,459	6,199	5,741	13,253	8,154	11,285	11,058	16,696	17,477	16,005	18,048	7,245	3,206	3,957	4,298	3,999	4,425	4,786	5,022	3,813	2,346	2,977	-155	0	0	0
Income tax receivable
-2,339	-12,122	-5,507	4,136	5,341	12,157	10,749	-2,192	4	1,531	-850	-37	-2,365	-4,100	-15,720	-24,705	-17,614	-19,406	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Inventories
3,417	326	-3,998	-231	-1,710	-3,093	1,265	2,847	5,717	5,485	4,200	2,212	602	3,639	-116	-616	-3,312	-4,967	-9,132	-7,931	-1,415	2,838	9,909	8,608	2,323	857	1,499	2,024	4,813	1,947	4,078	3,975	1,539	2,689	1,122	327	2,390	1,848	-900	-526	446	-1,096	0	0	0
Prepaid expenses
978	-792	-2,790	-6,701	-6,294	1,039	5,579	6,221	7,433	4,414	-681	3,408	2,190	3,826	-297	876	3,242	2,425	4,822	3,575	3,558	4,394	-498	3,373	2,872	1,553	4,928	234	149	2,572	3,254	2,584	1,375	2,514	-894	12	641	1,303	1,678	1,065	548	-595	0	0	0
Other current assets
-13,046	277	15,989	14,972	7,757	-4,834	-3,673	-4,738	2,288	1,158	1,553	1,025	-796	-616	-1,334	-1,805	-818	-829	-293	-58	486	387	1,642	1,573	1,804	1,458	2,168	2,459	705	1,667	14	-943	695	-210	-231	68	-371	-16	-452	-235	-1,277	-2,009	0	0	0
Other assets and liabilities
426	6,354	-3,129	-1,572	2,269	-1,464	1,560	1,385	-1,310	742	7,276	6,104	7,232	6,269	3,284	331	-160	-620	2,153	-159	-1,556	-915	-3,413	1,791	4,561	3,728	6,366	6,662	5,074	3,952	3,440	1,660	-281	1,600	-981	-729	492	416	6,081	4,871	4,922	4,197	0	0	0
Accounts payable
-1,469	2,035	12,420	2,499	5,145	-400	-4,162	-2,282	-941	-8,743	2,894	3,788	3,852	-916	1,894	27	-1,375	4,804	1,171	1,228	654	3,171	192	4,991	2,124	3,029	9	-3,651	-2,735	-342	-1,393	2,780	8,202	1,397	10,594	3,460	966	4,579	-339	1,736	358	-1,776	0	0	0
Income and other taxes payable
831	1,009	-1,089	-1,750	-2,759	-3,971	-1,479	-1,034	-6,386	1,897	-1,593	-2,419	7,549	9	1,893	2,518	-1,003	-1,113	-826	3,882	2,132	5,233	4,918	4,418	-4,002	-6,027	-4,299	-2,637	-2,147	6,460	5,405	1,930	7,156	2,180	-1,996	-3,724	-2,016	480	-1,421	-2,934	-4,033	-3,623	0	0	0
Accrued expenses and other current liabilities
-2,231	-11,331	-20,501	6,962	14,509	21,753	23,322	-2,516	-1,607	-3,012	-4,705	463	3,614	-7,960	-5,791	-5,719	6,754	21,201	25,006	18,800	4,002	-665	-4,482	-636	-4,853	-2,536	1,734	3,042	6,347	12,209	2,985	407	-3,576	-4,501	866	-786	229	-4,607	-4,692	-1,768	1,285	338	0	0	0
Deferred revenue
-2,444	-2,586	-328	-1,674	3,177	1,873	-2,195	-29	-3,979	-661	-502	-346	145	1,235	1,251	1,145	1,048	40	-154	-546	-941	-464	-242	-93	105	-481	-777	-334	-320	3,561	4,641	4,310	3,599	-426	-960	-424	528	928	813	537	102	-248	0	0	0
Long-term accrued income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-
Net cash provided by operating activities
81,670	61,749	37,421	50,428	69,536	92,454	125,090	131,313	124,377	134,975	143,718	148,507	163,733	150,257	172,181	172,094	164,067	170,463	157,544	146,049	136,203	122,632	111,353	108,693	98,124	101,360	84,439	86,449	90,200	104,379	108,565	113,245	118,414	101,008	117,638	99,820	93,255	92,581	83,719	94,976	97,914	103,826	0	0	0
Investing activities
Purchases of property and equipment
34,986	37,711	38,982	38,302	41,366	42,028	39,991	43,698	46,849	52,593	59,795	62,010	60,369	55,554	51,418	46,472	41,663	38,972	37,463	38,917	45,076	48,655	49,913	51,496	48,639	50,750	54,740	53,075	49,473	42,628	35,097	31,943	30,899	29,319	28,164	26,676	26,823	31,125	36,144	35,216	37,599	33,538	0	0	0
Purchase of investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,187	0	0	0
Proceeds from sale or maturity of investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	327	0	0	0	-	-	-	-
Loans issued
22,418	15,864	14,025	13,316	10,759	10,463	9,238	8,531	7,951	8,103	3,370	3,056	3,008	3,210	4,460	4,800	5,152	4,741	4,092	5,745	5,564	6,816	7,486	5,634	6,105	6,095	4,782	6,800	5,964	4,903	4,845	3,014	4,014	3,492	3,499	3,861	2,492	2,637	1,794	2,356	7,957	11,635	0	0	0
Repayments of loans issued
8,481	5,616	5,348	5,319	5,094	5,805	4,906	4,780	4,958	4,185	5,271	5,312	8,157	8,569	7,671	7,778	5,375	5,183	4,844	5,161	4,173	4,254	6,752	6,040	6,316	7,068	4,709	4,820	4,855	3,642	3,435	3,167	4,592	5,357	6,016	5,895	4,807	3,918	5,544	9,000	8,568	8,496	0	0	0
Acquisitions, net of cash acquired
-	-	-	-	-	-	-	-	-	21	2,171	2,171	2,171	13,352	11,633	11,633	11,783	922	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from divestitures of restaurants
-	-	-	-	-	7,707	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
-1,561	-1,889	-1,088	-602	-395	-180	-169	-155	-141	-34	-261	-289	-277	-429	-287	-317	-639	-500	-937	-901	-569	-556	-40	-23	-27	-339	-356	-359	-350	-36	0	0	0	-	-	-	-	-12	-658	-749	-566	-756	0	0	0
Net cash used in investing activities
-33,867	-32,575	-40,576	-41,455	-42,619	-38,799	-36,447	-43,604	-46,011	-56,498	-42,960	-44,792	-40,270	-46,274	-59,553	-54,810	-52,584	-38,952	-36,374	-40,285	-50,612	-55,034	-54,871	-54,246	-48,401	-49,438	-54,617	-55,003	-55,499	-49,120	-41,704	-36,837	-30,348	-27,486	-25,584	-23,143	-23,572	-28,657	-30,450	-27,760	-36,570	-36,407	0	0	0
Financing activities
Proceeds from issuance of preferred stock
-	252,530	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of term loan
15,000	15,000	15,000	20,000	20,000	20,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net proceeds (repayments) of revolving credit facility
640	-240,026	-194,857	-186,591	-216,749	163,585	196,476	-111,331	-79,692	-225,575	-312,375	-11,644	-22,500	44,575	73,375	83,375	86,500	25,549	14,316	24,000	53,833	72,551	104,684	76,759	68,257	69,642	70,000	83,241	58,910	36,769	0	2,000	2,000	-47,511	0	0	0	-	-	-	-	-	-	-	-
Dividends paid to common stockholders
28,664	28,552	28,495	28,492	28,545	28,985	29,695	30,779	30,931	30,720	30,259	29,469	28,622	27,896	27,417	26,891	25,927	24,844	23,566	22,414	22,040	21,735	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends paid to preferred stockholders
11,372	10,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Issuance costs associated with preferred stock
-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net repayments from line of credit facility
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Net repayments from short-term debt - variable interest entities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Excess tax benefit on equity awards
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	11,673	11,880	10,473	10,282	9,140	8,842	8,513	4,755	4,358	4,299	2,980	1,967	1,882	1,809	763	741	693	520	259	359	0	0	0	-	-	-	-
Tax payments for equity award issuances
1,947	1,433	1,197	1,063	1,048	1,521	1,491	1,499	1,511	2,428	2,436	2,475	2,613	6,024	6,017	6,142	11,078	10,965	12,642	12,391	11,559	9,235	9,262	9,241	5,974	3,584	1,871	1,874	1,395	855	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from exercise of stock options
17,190	16,000	440	614	981	2,700	2,918	3,261	4,822	6,300	7,657	9,466	9,386	7,060	6,005	4,094	3,909	5,197	5,654	6,391	5,058	5,837	7,424	6,530	7,150	6,865	5,058	5,560	11,240	12,264	14,460	13,779	16,456	14,042	12,087	11,948	3,791	6,410	5,479	6,898	7,638	9,830	0	0	0
Acquisition of Company common stock
-	-	-	-	-	158,049	245,930	324,058	338,247	209,586	134,679	59,994	69,423	122,381	149,034	164,065	161,061	119,793	103,414	106,179	109,365	117,400	143,584	123,067	119,247	118,569	111,086	126,173	124,397	106,095	79,890	77,889	75,024	65,323	53,300	48,681	45,786	46,936	66,734	47,936	28,788	28,477	0	0	0
Contributions from noncontrolling interest holders
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	950	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Distributions to noncontrolling interest holders
881	870	986	3,342	3,856	4,269	4,771	5,170	5,179	5,449	6,386	3,799	5,332	5,610	6,113	6,083	5,825	6,550	5,867	5,867	4,205	2,800	1,650	2,500	2,950	3,650	0	0	0	-	-	-	-	3,669	0	0	0	-	-	-	-	-	-	-	-
Noncontrolling interests, net of contributions and distributions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0
Other
-926	-526	-21	293	223	356	359	400	450	663	655	659	658	556	548	516	485	444	445	517	521	491	597	434	-216	-327	-450	-368	255	225	237	243	252	160	89	24	96	96	98	100	-33	-27	0	0	0
Net cash used in financing activities
-40,478	-34,574	-2,803	-9,454	-43,910	-48,097	-99,218	-84,441	-60,553	-72,060	-80,314	-96,566	-117,756	-109,030	-117,853	-124,000	-117,404	-130,278	-113,401	-103,077	-76,198	-60,923	-52,967	-62,844	-59,904	-54,715	-41,528	-36,889	-55,261	-57,929	-67,128	-64,693	-58,837	-102,601	-96,513	-94,293	-98,425	-43,218	-65,926	-52,451	-35,947	-53,054	0	0	0
Effect of exchange rate changes on cash and cash equivalents
-222	53	-196	-128	-218	-191	8	204	410	365	-8	-168	-264	-396	-109	-465	-331	-349	-476	-211	-257	-223	-56	132	18	67	42	54	-1	124	144	-10	230	92	51	122	140	62	97	209	101	176	0	0	0
Change in cash and cash equivalents
7,103	-5,347	-6,154	-609	-17,211	5,367	-10,567	3,472	18,223	6,782	20,436	6,981	5,443	-5,443	-5,334	-7,181	-6,252	884	7,293	2,476	9,136	6,452	3,459	-8,265	-10,163	-2,726	-11,664	-5,389	-20,561	-2,546	-123	11,705	29,459	-28,987	-4,408	-17,494	-28,602	20,768	-12,560	14,974	25,498	14,541	0	0	0