Ruth’s hospitality group, inc. (RUTH)
CashFlow / TTM
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)

24,477

42,206

42,608

41,681

41,945

41,680

36,401

34,497

32,735

30,137

29,768

31,654

30,751

30,465

30,764

29,746

30,355

30,004

28,478

18,615

18,001

16,455

12,645

22,830

23,693

22,489

21,963

19,879

17,945

16,379

15,344

15,338

18,713

19,549

0

0

0

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

22,207

21,354

20,229

19,496

19,046

18,538

17,668

16,893

15,951

14,995

14,616

14,198

13,838

13,434

13,080

12,886

12,702

12,520

12,702

12,781

19,231

13,185

13,083

12,827

6,328

13,060

13,440

13,952

14,454

14,556

14,806

14,846

14,855

14,859

0

0

0

Deferred income taxes

-1,231

837

557

526

586

341

1,249

4,000

4,285

4,977

7,791

5,300

7,002

9,384

4,295

1,662

-1,253

9,519

14,509

11,772

13,796

753

11

4,356

4,976

6,093

4,228

4,141

3,370

3,224

1,835

2,063

-1,805

-2,084

0

0

0

Non-cash interest expense

89

86

82

82

82

82

84

84

84

119

203

287

372

421

421

421

421

421

421

421

421

421

421

421

421

421

0

0

0

-

-

-

-

728

0

0

0

Debt issuance costs written-off

-

-

-

-

-

-

-

-

-

16

0

0

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

Debt issuance costs written-off

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

807

0

0

0

-

-

-

-

Loss on impairment

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of below market lease

-

-

-

-

-

79

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

129

129

129

129

129

129

129

129

129

129

129

177

226

0

0

0

Restructuring benefit

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-502

0

0

0

Stock-based compensation expense

8,189

8,157

8,075

7,911

7,839

7,647

7,403

7,264

7,046

6,763

6,655

6,476

6,062

5,834

5,513

5,249

4,670

4,087

3,583

3,063

3,034

2,821

2,556

2,304

2,220

2,343

2,548

2,636

2,545

2,322

2,284

2,360

2,246

2,531

0

0

0

Changes in operating assets and liabilities:
Accounts receivable

-9,342

-343

4,440

3,963

-1,728

-2,151

1,543

2,014

3,327

836

1,050

-674

-123

2,259

-4,854

-6,835

-10,765

-1,957

-55

6,582

10,238

7,049

3,393

745

541

2,114

1,275

515

336

-1,420

344

-392

182

738

0

0

0

Inventories

-302

52

610

439

108

608

159

-31

217

710

109

300

58

-83

73

142

389

273

511

389

353

151

374

378

216

-8

152

-81

-115

563

29

392

449

-163

0

0

0

Prepaid expenses and other

-262

417

69

129

593

-151

161

302

271

231

-1,042

152

215

1,187

1,459

263

158

-32

-79

14

-266

-1,193

-35

-11

-130

621

-488

665

667

415

1,019

190

220

134

0

0

0

Other assets

-

150

0

0

0

-

-

-

-

-482

-254

-432

-422

-96

-200

-26

-11

-92

-234

-230

-272

-200

-48

-276

-232

-225

-233

-52

-51

-48

-2

-30

-23

-163

0

0

0

Accounts payable and accrued expenses

-10,446

-2,624

-3,096

-1,254

-2,150

2,590

1,985

1,649

939

5,718

-546

1,930

-1,097

-5,213

-4,582

-4,391

-373

-3,763

859

-333

-4,261

-2,669

-3,678

-1,252

386

3,036

4,085

3,248

5,426

7,931

5,350

1,256

131

1,002

0

0

0

Deferred revenue

4,172

3,761

3,357

6,117

5,574

5,383

8,293

3,894

4,387

3,692

4,018

2,961

2,605

2,953

-335

440

347

650

-995

1,643

2,360

2,717

4,508

3,483

2,313

622

-2,104

-2,130

-2,866

1,132

1,230

2,671

3,797

1,844

0

0

0

Deferred rent

-

-

-

-

-

1,462

360

366

142

19

978

874

1,240

1,463

908

529

401

285

642

1,118

892

50

-58

-714

-1,270

-1,123

-410

389

892

1,321

458

-47

1,404

753

0

0

0

Operating lease liabilities and assets

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other liabilities

-2,505

-1,250

763

-394

-241

-1,215

-1,552

-4,396

-3,150

-359

-1,397

2,609

4,687

928

749

489

286

-944

-857

-2,745

-2,412

-512

-2,386

1,160

-272

-34

1,440

-468

1,498

285

226

-1,122

-2,649

-2,501

0

0

0

Net cash provided by operating activities

67,396

72,910

68,566

72,916

74,674

78,294

74,145

66,042

62,689

68,693

62,259

66,979

65,640

56,294

54,207

53,359

57,785

54,587

59,741

55,331

50,657

43,348

42,104

48,085

48,045

47,796

49,313

45,433

47,256

53,324

45,072

42,220

41,015

39,337

0

0

0

Cash flows from investing activities:
Acquisition of property and equipment

29,736

31,668

29,658

30,973

32,262

31,907

29,042

22,495

19,590

21,255

21,443

23,391

27,233

26,211

24,792

25,640

21,819

20,292

20,184

19,124

18,656

17,365

16,204

15,936

16,316

15,311

13,636

12,541

11,689

11,457

11,556

9,743

9,276

8,975

0

0

0

Acquisition of franchise restaurant, net of cash acquired

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,800

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of intangible asset

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of Mitchell's

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

10,000

10,000

10,000

10,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition of intangible assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

Proceeds from sale of property and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

802

0

0

0

-

-

-

-

-

-

-

-

1,104

1,265

1,265

1,265

161

0

0

0

-

-

-

-

Net cash used in investing activities

-48,349

-50,281

-47,100

-29,802

-32,262

-31,907

-65,570

-59,023

-54,947

-56,612

-21,443

-23,391

-26,651

-25,409

-23,990

-24,838

-21,599

-10,292

-10,175

-8,975

-8,507

-20,016

-18,864

-18,736

-19,116

-14,207

-12,371

-11,276

-10,424

-11,296

-11,556

-9,743

-9,276

-8,975

0

0

0

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

132,000

54,000

64,000

32,000

38,000

33,000

67,000

67,000

64,000

70,000

27,000

29,000

42,000

48,000

56,000

57,000

37,000

35,000

27,000

27,000

29,000

26,000

25,000

17,000

13,500

6,500

5,000

5,500

81,000

70,000

112,600

103,500

750

15,750

0

0

0

Principal repayments on long-term debt

26,000

31,000

35,000

37,000

42,000

42,000

43,000

38,000

35,000

45,000

35,000

38,000

36,000

23,000

23,000

27,000

32,000

48,000

52,000

49,000

48,000

32,000

32,000

35,000

34,500

32,500

37,000

36,500

115,000

47,000

83,000

72,500

-31,250

44,750

0

0

0

Repurchase of common stock

38,476

25,818

0

0

0

-

-

-

-

-

-

-

-

45,076

52,044

50,160

32,426

23,752

16,806

13,928

15,254

15,409

10,284

6,740

3,148

0

0

0

0

-

-

-

-

-

-

-

-

Cash dividend payments

16,027

15,566

15,103

14,638

14,104

13,527

12,991

12,446

11,911

11,383

10,794

10,232

9,707

9,195

9,038

8,863

8,617

8,349

8,044

7,715

7,422

7,138

6,822

6,444

6,076

4,278

2,830

1,430

0

1,103

1,733

2,356

2,973

2,500

0

0

0

Redemption of Series A 10% redeemable convertible preferred stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

Tax payments from the vesting of restricted stock and option exercises

2,748

3,720

3,720

3,659

4,276

4,342

4,342

4,474

2,720

2,079

2,094

1,413

1,301

1,518

1,504

1,777

1,650

1,393

1,565

1,988

1,972

3,121

2,948

2,422

4,138

1,974

0

0

0

-

-

-

-

-

-

-

-

Excess tax benefits from stock compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

378

435

580

620

743

905

1,010

1,011

1,868

1,813

1,632

2,471

1,132

0

0

0

-

-

-

-

-

-

-

-

Proceeds from the exercise of stock options

-

-

-

-

-

32

61

117

897

945

1,056

985

209

219

96

122

124

250

250

183

188

183

210

307

361

208

0

0

0

-

-

-

-

-

-

-

-

Deferred financing costs

0

-

-

-

-

-

-

-

-

413

0

0

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

610

0

0

0

-

-

-

-

Other

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

0

Net cash provided by (used in) financing activities

48,629

-22,124

-23,035

-43,011

-41,464

-45,376

-8,560

-9,202

-8,622

-11,818

-39,908

-41,913

-38,602

-30,192

-29,055

-30,098

-36,949

-45,501

-50,260

-44,438

-42,449

-29,617

-25,031

-31,667

-31,530

-30,912

-35,577

-33,116

-33,562

-38,044

-32,152

-31,342

-31,275

-31,455

0

0

0

Net increase (decrease) in cash and cash equivalents

67,676

505

-1,569

103

948

1,011

15

-2,183

-880

263

908

1,675

387

693

1,162

-1,577

-763

-1,206

-694

1,918

-299

-6,285

-1,791

-2,318

-2,601

2,677

1,365

1,041

3,270

3,984

1,364

1,135

464

-1,093

0

0

0

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

2,115

1,988

1,854

1,734

1,710

1,658

1,466

1,279

901

667

673

646

762

729

613

446

403

428

493

611

679

709

703

778

963

1,272

1,582

1,869

2,047

1,983

1,895

1,870

1,943

2,192

0

0

0

Income taxes

8,309

8,265

8,444

8,502

7,527

8,467

10,871

10,963

11,456

10,680

7,941

7,443

2,526

3,625

2,519

2,334

1,659

410

179

914

2,125

2,135

2,071

1,433

1,552

2,383

3,637

4,155

3,310

2,643

2,108

2,651

2,878

3,003

0

0

0

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

7,897

4,374

6,859

4,705

1,779

2,390

3,242

3,403

2,328

3,012

4,596

3,380

4,952

3,962

1,136

1,494

2,149

1,608

655

1,945

1,354

1,243

1,880

205

1,696

1,213

1,075

1,930

285

-117

102

289

297

69

0

0

0

Preferred stock dividends accrued

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0