Robert half international inc. (RHI)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'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'10
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income

89,915

112,842

117,181

114,612

109,798

113,564

115,242

109,315

96,167

47,047

84,700

80,316

78,521

77,788

90,569

91,616

83,416

93,443

96,725

89,706

77,922

84,053

85,184

75,140

61,551

66,885

66,358

63,089

55,863

58,619

57,660

45,329

48,334

42,624

44,168

36,425

26,705

24,790

20,623

12,181

8,475

Adjustments to reconcile net income to net cash provided by operating activities:
Allowance for credit losses

4,690

3,367

2,966

1,210

2,325

3,704

4,260

2,172

1,778

2,695

1,906

1,724

1,697

5,869

110

1,987

1,226

4,909

3,164

1,381

2,551

3,095

2,052

1,222

3,456

1,294

3,110

421

2,642

-524

3,013

2,323

2,321

2,733

1,631

701

1,608

1,388

3,306

728

1,373

Depreciation

15,913

15,779

16,745

16,088

15,652

15,900

15,941

16,150

16,253

16,014

16,071

15,946

15,899

16,307

16,061

15,587

15,123

13,786

12,919

13,562

13,006

12,954

12,107

11,863

12,200

12,077

11,669

11,579

11,747

12,003

12,043

12,034

12,246

12,753

12,806

12,947

12,756

13,177

13,460

13,987

14,923

Amortization of cloud computing implementation costs

3,288

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of intangible assets

338

339

339

341

342

371

429

442

463

416

481

365

301

309

326

314

288

192

0

0

0

0

0

224

333

400

433

434

433

211

100

52

35

35

39

40

39

49

47

46

269

Stock-based compensation

13,525

13,497

11,889

11,670

11,244

11,953

11,055

11,389

10,556

11,028

10,436

10,870

9,857

9,896

10,710

11,745

10,348

10,752

10,852

10,845

8,843

10,861

10,811

10,375

8,774

10,308

10,583

9,768

8,208

10,573

10,686

11,319

8,886

12,713

12,746

13,334

12,113

13,906

14,074

14,895

14,074

Stock-based compensation expense-stock options

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

15

68

87

Excess tax benefits from stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

1,010

10

407

395

4,117

14

375

4,256

5,530

386

551

707

6,539

284

288

992

5,371

209

457

2,438

3,124

143

323

621

4,897

208

288

421

Deferred income taxes

12,022

212

-7,670

-7,751

5,736

-7,458

1,761

-11,883

1,695

57,400

-13,327

-10,538

10,556

6,669

-6,467

-1,235

-835

-1,667

-5,926

-9,025

8,039

7,524

-8,024

-5,853

2,710

10,281

-10,254

-9,169

-4,117

4,551

-5,571

-12,419

-1,554

24,342

-405

1,046

-7,827

22,318

-7,766

-340

-6,842

Changes in assets and liabilities:
Accounts receivable

36,700

-23,827

21,345

15,649

35,294

-32,879

38,516

30,786

49,794

-4,771

25,186

920

-4,296

-23,835

10,393

3,951

25,379

-20,760

52,472

21,602

22,431

11,658

54,597

29,753

38,909

-13,340

6,288

12,153

42,598

-47,224

24,261

15,799

28,518

-18,176

33,973

26,801

38,716

-3,181

35,914

19,092

16,183

Capitalized cloud computing implementation costs

10,379

-

-

-

4,751

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable and accrued expenses

18,193

-108,833

82,532

29,007

-11,910

-99,446

85,915

32,432

13,527

-64,417

65,707

7,536

-7,498

-39,075

51,586

42,316

-35,101

-2,917

33,904

52,479

-23,234

-397

40,902

45,465

-14,230

10,514

4,108

48,745

-25,011

-2,529

22,315

34,047

-37,161

8,652

38,801

23,699

-6,220

17,095

26,086

17,321

-18,876

Accrued payroll and benefit cost

-4,396

-

-

-

13,308

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income taxes payable

20,124

-12,064

-11,436

-12,768

17,470

10,561

-17,876

9,147

27,068

-41,975

-16,909

21,369

27,860

-20,744

2,757

-32,537

42,278

-14,906

-6,813

4,163

37,504

-20,632

5,786

-115

31,320

-22,942

-4,250

-15,827

31,092

-21,859

-1,631

12,580

26,070

-24,333

1,931

8,410

20,360

-18,283

11,874

-478

8,377

Other assets and liabilities, net

1,607

2,512

22

7,455

-3,159

16,270

-7,102

-9,368

1,495

14,955

-6,524

-7,892

17,989

-1,817

2,023

-3,273

12,483

2,240

-1,507

-781

13,464

-2,608

154

3,103

7,273

-2,542

-5,937

-5,451

9,382

4,975

-1,823

-3,063

5,007

-2,077

5,815

548

1,245

-1,686

-4,892

2,563

-9,263

Net cash flows provided by operating activities

124,926

80,623

191,179

120,748

127,079

123,045

185,313

147,746

116,218

64,528

130,403

134,560

123,500

81,661

153,226

128,708

78,486

117,995

93,846

141,915

84,480

82,878

93,681

104,914

59,225

98,160

81,122

102,050

27,885

97,923

75,968

92,072

23,214

96,648

71,786

68,930

18,952

74,410

50,489

36,465

14,519

CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures

14,276

14,326

16,513

15,955

12,670

15,298

9,925

9,296

7,965

12,213

7,354

10,851

10,335

19,676

19,540

24,930

18,810

26,781

18,753

16,177

13,346

26,623

13,122

10,642

12,443

21,608

13,013

11,022

8,082

14,240

11,605

13,839

10,372

14,827

13,333

13,812

14,563

13,039

7,637

6,136

8,276

Payments for employee deferred compensation plans

-22,987

43,041

9,287

-8,272

-16,966

41,732

8,157

9,242

10,585

33,087

8,592

10,306

4,939

9,244

6,584

5,894

5,357

8,647

6,565

5,558

7,455

7,591

8,414

4,523

5,283

5,573

5,403

3,407

29,669

2,825

2,156

2,118

1,478

2,055

2,027

1,770

1,015

2,812

1,221

30

-639

Net cash flows used in investing activities

-28,350

-28,609

-25,800

-24,649

-23,080

-33,339

-18,082

-18,538

-18,550

-24,421

-16,002

-22,800

-15,274

-29,220

-26,624

-32,224

-24,167

-50,096

-25,318

-21,735

-20,801

-34,214

-21,536

-15,165

-17,726

-27,181

-18,416

-14,429

-37,751

-29,933

-13,802

-17,441

-11,850

-16,882

-15,360

-15,582

-15,578

-16,436

-8,858

-6,166

-7,637

CASH FLOWS FROM FINANCING ACTIVITIES:
Repayment of notes payable

53

-

-

-

49

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from (Repayments of) Debt

-

-

-

-

-

-

-

-46

-44

-43

-42

-41

-41

-40

-39

-37

-38

-36

-35

-35

-34

-33

-32

-32

-31

-66

-42

-1,745

-2,643

-31

-21

-23

-32

1

-32

-30

-30

-29

-29

-28

-27

Repurchases of common stock

69,968

63,488

80,430

61,274

72,343

137,108

78,399

69,513

68,489

64,382

38,099

48,556

80,687

49,705

44,782

41,362

40,182

69,929

96,989

45,024

59,196

29,142

59,521

30,133

35,025

61,193

20,401

40,708

45,673

59,326

16,088

44,986

56,394

27,712

48,846

60,578

30,967

72,272

11,427

67,857

3,904

Dividends paid

40,476

35,929

35,742

36,073

37,887

33,727

33,711

34,066

34,919

29,922

29,630

30,851

30,597

28,202

28,067

29,147

28,748

27,392

26,288

26,506

27,375

24,852

24,098

24,260

24,394

23,575

21,726

21,865

22,021

21,438

20,817

20,858

21,016

20,279

19,717

20,013

20,294

18,979

18,978

19,042

19,592

Excess tax benefits from stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

1,010

10

407

395

4,117

14

375

4,256

5,530

386

551

707

6,539

284

288

992

5,371

209

457

2,438

3,124

143

323

621

4,897

208

288

421

Proceeds from exercises of stock options

-

-

-

-

-

-

-

-

-

-

-

-

-

0

145

18

60

18

177

221

1,113

1,638

2,058

1,952

8,676

3,390

7,499

2,458

19,938

5,096

2,452

9,310

26,081

3,030

1,586

4,032

9,661

32,278

692

2,189

3,196

Effect of exchange rate fluctuations

-6,643

5,192

-5,856

1,092

-654

-3,985

-1,991

-8,914

3,018

657

3,908

5,343

3,041

-7,754

-132

-1,768

3,736

-1,918

-6,720

3,035

-8,677

-5,562

-7,840

2,214

541

-57

4,456

-4,429

-3,011

545

2,949

-4,406

2,676

-1,320

-7,905

2,159

4,328

212

8,915

-5,169

-3,406

Change in cash and cash equivalents

-20,564

-42,263

43,301

-205

-6,934

-85,161

53,084

16,669

-2,766

-53,583

50,538

37,655

-58

-32,250

53,737

24,595

-10,458

-27,241

-61,313

52,246

-26,234

-3,757

-16,902

40,041

-8,027

-3,983

32,776

21,620

-62,284

-1,793

30,850

14,125

-34,883

36,610

-18,345

-20,759

-33,307

4,081

21,012

-59,320

-16,430

Net cash flows used in financing activities

-110,497

-99,469

-116,222

-97,396

-110,279

-170,882

-112,156

-103,625

-103,452

-94,347

-67,771

-79,448

-111,325

-76,937

-72,733

-70,121

-68,513

-93,222

-123,121

-70,969

-81,236

-46,859

-81,207

-51,922

-50,067

-74,905

-34,386

-61,572

-49,407

-70,328

-34,265

-56,100

-48,923

-41,836

-66,866

-76,266

-41,009

-54,105

-29,534

-84,450

-19,906

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid during the year for:
Interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

107

127

136

135

138

145

153

149

152

Income taxes, net of refunds

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7,028

31,565

25,606

15,039

4,212

14,712

10,697

10,866

1,974

Non-cash items:
Non-cash items:
Stock repurchases awaiting settlement

0

987

-209

-1,641

7,332

4,316

560

6,483

0

0

-1,255

-1,043

2,298

5,469

1,827

4,272

3,120

10,253

-15,144

5,518

11,308

28,000

2,152

-8,266

8,266

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-