Ruth’s hospitality group, inc. (RUTH)
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'11
Cash flows from operating activities:
Net income (loss)

-3,818

14,458

4,528

9,309

13,911

14,860

3,601

9,573

13,646

9,581

1,697

7,811

11,048

9,212

3,583

6,908

10,762

9,511

2,565

7,517

10,411

7,985

-7,298

6,903

8,865

4,175

2,887

7,766

7,661

3,649

803

5,832

6,095

2,614

797

9,207

6,931

Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization

5,822

5,901

5,361

5,123

4,969

4,776

4,628

4,673

4,461

3,906

3,853

3,731

3,505

3,527

3,435

3,371

3,101

3,173

3,241

3,187

2,919

3,355

3,320

9,637

-3,127

3,253

3,064

3,138

3,605

3,633

3,576

3,640

3,707

3,883

3,616

3,649

3,711

Deferred income taxes

-1,973

-123

836

29

95

-403

805

89

-150

505

3,556

374

542

3,319

1,065

2,076

2,924

-1,770

-1,568

-839

13,696

3,220

-4,305

1,185

653

2,478

40

1,805

1,770

613

-47

1,034

1,624

-776

181

-2,834

1,345

Non-cash interest expense

24

24

21

20

21

20

21

20

21

22

21

20

56

106

105

105

105

106

105

105

105

106

105

105

105

106

105

105

105

-

-

-

-

152

192

192

192

Debt issuance costs written-off

-

-

-

-

-

-

-

-

-

0

0

0

16

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

105

105

153

-

-

-

-

Debt issuance costs written-off

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

807

-

-

-

-

Loss on impairment

8,697

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of below market lease

-

-

-

-

-

20

20

19

20

-

-

-

-

-

-

-

-

-

-

-

-

32

32

33

32

32

32

33

32

32

32

33

32

32

32

81

81

Restructuring benefit

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-502

Stock-based compensation expense

2,065

2,009

2,014

2,101

2,033

1,927

1,850

2,029

1,841

1,683

1,711

1,811

1,558

1,575

1,532

1,397

1,330

1,254

1,268

818

747

750

748

789

534

485

496

705

657

690

584

614

434

652

660

500

719

Changes in operating assets and liabilities:
Accounts receivable

-17,076

3,361

1,008

3,365

-8,077

8,144

531

-2,326

-8,500

11,838

1,002

-1,013

-10,991

12,052

-722

-462

-8,609

4,939

-2,703

-4,392

199

6,841

3,934

-736

-2,990

3,185

1,286

-940

-1,417

2,346

526

-1,119

-3,173

4,110

-210

-545

-2,617

Inventories

-1,174

750

54

68

-820

1,308

-117

-263

-320

859

-307

-15

173

258

-116

-257

32

414

-47

-10

-84

652

-169

-46

-286

875

-165

-208

-510

1,035

-398

-242

168

501

-35

-185

-444

Prepaid expenses and other

-139

484

-638

31

540

136

-578

495

-204

448

-437

464

-244

-825

757

527

728

-553

-439

422

538

-600

-346

142

-389

558

-322

23

362

-551

831

25

110

53

2

55

24

Other assets

-

133

7

-32

42

-

-

-

-

-126

0

-28

-328

102

-178

-18

-2

-2

-4

-3

-83

-144

0

-45

-11

8

-228

-1

-4

0

-47

0

-1

46

-75

7

-141

Accounts payable and accrued expenses

-21,333

12,859

-3,039

1,067

-13,511

12,387

-1,197

171

-8,771

11,782

-1,533

-539

-3,992

5,518

943

-3,566

-8,108

6,149

1,134

452

-11,498

10,771

-58

-3,476

-9,906

9,762

2,368

-1,838

-7,256

10,811

1,531

340

-4,751

8,230

-2,563

-785

-3,880

Deferred revenue

-5,453

11,857

166

-2,398

-5,864

11,453

2,926

-2,941

-6,055

14,363

-1,473

-2,448

-6,750

14,689

-2,530

-2,804

-6,402

11,401

-1,755

-2,897

-6,099

9,756

883

-2,180

-5,742

11,547

-142

-3,350

-7,433

8,821

-168

-4,086

-3,435

8,919

1,273

-2,960

-5,388

Deferred rent

-

-

-

-

-

628

204

275

355

-474

210

51

232

485

106

417

455

-70

-273

289

339

287

203

63

-503

179

-453

-493

-356

892

346

10

73

29

-159

1,461

-578

Operating lease liabilities and assets

3,119

-

-

-

-171

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other liabilities

1,026

-333

123

-3,321

2,281

1,680

-1,034

-3,168

1,307

1,343

-3,878

-1,922

4,098

305

128

156

339

126

-132

-47

-891

213

-2,020

286

1,009

-1,661

1,526

-1,146

1,247

-187

-382

820

34

-246

-1,730

-707

182

Net cash provided by operating activities

6,565

42,096

7,659

11,076

12,079

37,752

12,009

12,834

15,699

33,603

3,906

9,481

21,703

27,169

8,626

8,142

12,357

25,082

7,778

12,568

9,159

30,236

3,368

7,894

1,850

28,992

9,349

7,854

1,601

30,509

5,469

9,677

7,669

22,257

2,617

8,472

5,991

Cash flows from investing activities:
Acquisition of property and equipment

3,928

11,804

8,909

5,095

5,860

9,794

10,224

6,384

5,505

6,929

3,677

3,479

7,170

7,117

5,625

7,321

6,148

5,698

6,473

3,500

4,621

5,590

5,413

3,032

3,330

4,429

5,145

3,412

2,325

2,754

4,050

2,560

2,093

2,853

2,237

2,093

1,792

Acquisition of franchise restaurant, net of cash acquired

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

2,800

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of intangible asset

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of Mitchell's

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

10,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition of intangible assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

Proceeds from sale of property and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

582

220

-

-

-

-

-

-

-

-

0

0

0

1,104

161

0

0

0

-

-

-

-

Net cash used in investing activities

-3,928

-11,804

-27,522

-5,095

-5,860

-8,623

-10,224

-7,555

-5,505

-42,286

-3,677

-3,479

-7,170

-7,117

-5,625

-6,739

-5,928

-5,698

-6,473

-3,500

5,379

-5,581

-5,273

-3,032

-6,130

-4,429

-5,145

-3,412

-1,221

-2,593

-4,050

-2,560

-2,093

-2,853

-2,237

-2,093

-1,792

Cash flows from financing activities:
Principal borrowings on long-term debt

85,000

0

40,000

7,000

7,000

10,000

8,000

13,000

2,000

44,000

8,000

10,000

8,000

1,000

10,000

23,000

14,000

9,000

11,000

3,000

12,000

1,000

11,000

5,000

9,000

0

3,000

1,500

2,000

-1,500

3,500

77,000

-9,000

41,100

-5,600

-25,750

6,000

Principal repayments on long-term debt

4,000

19,000

2,000

1,000

9,000

23,000

4,000

6,000

9,000

24,000

-1,000

3,000

19,000

14,000

2,000

1,000

6,000

14,000

6,000

6,000

22,000

18,000

3,000

5,000

6,000

18,000

6,000

4,500

4,000

22,500

5,500

83,000

-64,000

58,500

-5,000

-20,750

12,000

Repurchase of common stock

13,226

5,222

13,456

6,572

568

-

-

-

-

-

-

-

-

5,103

8,306

20,000

11,667

12,071

6,422

2,266

2,993

5,125

3,544

3,592

3,148

0

0

0

0

-

-

-

-

-

-

-

-

Cash dividend payments

4,428

3,814

3,854

3,931

3,967

3,351

3,389

3,397

3,390

2,815

2,844

2,862

2,862

2,226

2,282

2,337

2,350

2,069

2,107

2,091

2,082

1,764

1,778

1,798

1,798

1,448

1,400

1,430

0

0

0

0

1,103

630

623

617

630

Redemption of Series A 10% redeemable convertible preferred stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

59,740

-

-

-

-

Tax payments from the vesting of restricted stock and option exercises

658

0

644

1,446

1,630

0

583

2,063

1,696

0

715

309

1,055

15

34

197

1,272

1

307

70

1,015

173

730

54

2,164

0

204

1,770

0

-

-

-

-

-

-

-

-

Excess tax benefits from stock compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-17

18

18

359

40

163

58

482

202

268

59

1,339

147

87

898

0

-

-

-

-

-

-

-

-

Proceeds from the exercise of stock options

-

-

-

-

-

3

19

1

9

32

75

781

57

143

4

5

67

20

30

7

193

20

-37

12

188

47

60

66

35

-

-

-

-

-

-

-

-

Deferred financing costs

100

-

-

-

-

-

-

-

-

0

0

0

413

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

610

-

-

-

-

Other

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

318

6

-

-

-

3

Net cash provided by (used in) financing activities

62,588

-28,033

20,023

-5,949

-8,165

-28,944

47

-4,402

-12,077

7,872

-595

-3,822

-15,273

-20,218

-2,600

-511

-6,863

-19,081

-3,643

-7,362

-15,415

-23,840

2,179

-5,373

-2,583

-19,254

-4,457

-5,236

-1,965

-23,919

-1,996

-5,682

-6,447

-18,027

-1,186

-5,615

-6,627

Net increase (decrease) in cash and cash equivalents

65,225

2,259

160

32

-1,946

185

1,832

877

-1,883

-811

-366

2,180

-740

-166

401

892

-434

303

-2,338

1,706

-877

815

274

-511

-6,863

5,309

-253

-794

-1,585

3,997

-577

1,435

-871

1,377

-806

764

-2,428

Supplemental disclosures of cash flow information:
Interest, net of capitalized interest

554

588

571

402

427

454

451

378

375

262

264

0

141

268

237

116

108

152

70

73

133

217

188

141

163

211

263

326

472

521

550

504

408

433

525

577

657

Income taxes

75

1,558

549

6,127

31

1,737

607

5,152

971

4,141

699

5,645

195

1,402

201

728

1,294

296

16

53

45

65

751

1,264

55

1

113

1,383

886

1,255

631

538

219

720

1,174

765

344

Noncash investing and financing activities:
Accrued acquisition of property and equipment

4,190

-1,348

2,178

2,877

667

1,137

24

-49

1,278

1,989

185

-1,124

1,962

3,573

-1,031

448

972

747

-673

1,103

431

-206

617

512

320

431

-1,058

2,003

-163

293

-203

358

-565

512

-16

366

-793

Preferred stock dividends accrued

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

7

589