SANDERSON FARMS INC SAFM Cash Flow

Sanderson farms inc (SAFM)

CashFlow / Quarterly

Jan'20	Oct'19	Jul'19	Apr'19	Jan'19	Oct'18	Jul'18	Apr'18	Jan'18	Oct'17	Jul'17	Apr'17	Jan'17	Oct'16	Jul'16	Apr'16	Jan'16	Oct'15	Jul'15	Apr'15	Jan'15	Oct'14	Jul'14	Apr'14	Jan'14	Oct'13	Jul'13	Apr'13	Jan'13	Oct'12	Jul'12	Apr'12	Jan'12	Oct'11	Jul'11	Apr'11	Jan'11	Oct'10	Jul'10	Apr'10	Jan'10
Operating activities
Net loss
-38,576	-22,871	53,362	40,636	-17,833	-43,198	11,475	41,948	51,206	72,871	115,834	67,015	24,025	75,962	54,716	47,602	10,681	27,371	50,881	71,246	66,503	93,109	76,080	50,988	28,871	45,270	67,919	24,371	-6,943	9,347	28,721	23,865	-7,989	-21,562	-55,683	-16,276	-33,556	47,800	36,116	35,087	15,817
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization
36,697	37,591	35,450	33,338	29,041	29,347	27,690	27,229	26,630	27,282	26,135	24,279	22,641	22,249	21,487	20,976	19,871	20,176	19,478	18,751	16,256	17,674	16,781	15,117	14,737	16,038	15,898	15,115	15,174	15,208	15,010	15,067	14,694	14,167	13,336	12,722	11,436	11,659	10,921	10,991	10,859
Amortization of share-based compensation
2,747	2,891	3,754	2,966	2,941	2,674	3,074	4,393	6,230	3,964	4,033	3,694	5,685	3,341	3,344	6,406	2,722	3,064	3,095	3,999	5,910	2,459	2,820	5,587	1,530	2,404	3,348	1,193	1,166	1,221	1,123	1,220	1,217	1,424	1,269	1,435	1,375	1,012	2,452	1,366	2,688
Live inventory adjustment (net of prior period reversal)
-2,800	2,800	0	0	-9,600	9,600	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-9,000	-13,000	16,000	-16,300	22,300	-	-	-	0
Deferred income taxes
5,169	-9,661	14,301	13,045	-6,346	-5,243	1,903	8,271	-34,036	-3,435	-2,116	9,774	11,927	517	-1,077	-952	29,735	-979	479	-3,695	8,976	-3,732	-2,374	-4,712	951	-1,440	1,568	-589	445	-872	2,599	-935	7,203	5,373	8,782	15,547	-8,240	3,645	90	365	-435
Loss on asset disposals
-15	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in assets and liabilities:
Accounts receivable - trade
7,289	-448	4,837	1,796	1,661	-8,989	-14,679	11,555	-4,823	-11,606	12,552	22,899	-8,715	5,871	-5,486	4,218	6,971	1,655	-7,357	1,913	-1,282	3,065	6,646	14,471	-14,866	-9,453	5,756	12,144	2,926	10,119	-13,537	12,687	-4,856	12,515	4,129	8,506	-23,596	18,349	-1,566	8,982	-1,677
Accounts receivable - insurance
-445	-5,155	-383	284	-1,395	7,094	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income taxes
15,888	52,081	1,644	-27,240	-123	-72,538	-864	33,779	0	23,275	-46,999	-5,849	20,232	66,469	2,842	-57,336	25,846	-65,988	15,652	17,043	-1,980	16,155	-3,181	-1,974	-566	28,898	-22,788	-13,425	2,848	4,467	-2,387	-99,737	13,612	14,684	39,237	23,126	11,465	1,567	0	0	-1,567
Inventories
2,228	-13,518	20,773	23,705	12,112	-32,400	14,310	14,665	316	-3,370	21,339	-1,557	16,047	-7,371	16,755	1,150	11,019	-4,399	-9,153	-867	22,349	-27,025	-1,169	9,848	3,314	-35,488	14,753	-8,532	-790	2,557	20,213	-1,550	-6,061	-4,415	5,324	27,174	39,381	-681	9,081	-7,806	12,174
Prepaid expenses and other assets
10,181	-3,391	8,569	-912	10,072	-1,407	6,700	-6,398	5,237	-2,902	-344	4,331	3,194	-2,790	342	1,485	2,226	-4,270	-308	1,623	4,117	-2,882	4,765	-3,480	4,623	-2,637	5,382	-1,348	1,149	-3,815	3,250	-222	433	-5,594	5,272	3,581	-914	1,594	3,573	-1,716	2,268
Right of use assets
-4,856	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Lease liabilities
-4,856	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable
-17,225	13,187	16,068	-20,845	10,107	6,828	10,279	-13,014	19,984	4,358	941	-7,157	13,871	-5,584	9,286	-4,885	6,292	448	-24,833	15,292	20,708	-29,898	-2,232	24,387	-24,975	-1,413	13,040	-18,714	5,750	-	-	-	-	-	-	-	-	-	-	-	-
Accrued expenses and other liabilities
-16,747	6,449	15,292	1,129	-7,322	-1,494	8,926	5,831	-44,316	17,331	32,819	1,720	-7,939	-4,432	10,066	8,406	-43,551	9,773	30,698	7,189	-31,356	-1,991	32,603	5,374	-25,811	16,506	17,316	-345	-1,233	-11,488	25,768	2,256	-9,549	-6,893	12,014	-4,013	-20,430	-3,787	14,495	8,961	-1,759
Total adjustments
-27,285	77,587	48,925	30,500	-3,506	70,706	46,405	-20,891	-26,238	25,951	75,344	12,486	15,427	25,794	32,563	80,434	-30,993	35,118	30,203	21,824	-2,710	16,067	40,537	26,888	-26,073	51,086	48,171	7,821	15,169	7,110	36,998	106,430	1,437	1,205	-2,561	-52,996	-19,895	4,341	16,870	22,223	155
Net cash used in operating activities
-65,861	54,716	102,287	71,136	-21,339	27,508	57,880	21,057	24,968	98,822	191,178	79,501	39,452	101,756	87,279	128,036	-20,312	62,489	81,084	93,070	63,793	109,176	116,617	77,876	2,798	96,356	116,090	32,192	8,226	16,457	65,719	130,295	-6,552	-20,357	-58,244	-69,272	-53,451	52,141	52,986	57,310	15,972
Investing activities
Capital expenditures
71,245	38,625	48,610	78,880	83,388	92,288	89,659	75,194	51,734	36,151	33,982	50,370	46,265	74,815	58,741	44,373	22,953	17,850	47,376	36,574	56,489	58,255	47,352	37,210	28,809	14,801	10,810	17,446	11,472	11,125	10,420	11,846	15,858	7,867	17,327	18,818	18,946	45,444	43,735	32,370	23,298
Net proceeds from sale of property and equipment
65	-539	655	509	371	1,309	0	326	566	444	90	17	302	27	50	398	3	461	286	84	17	146	-1	341	28	0	0	3	166	-1	40	0	0	127	0	15	32	-13	0	29	2
Net cash used in investing activities
-71,180	-39,164	-47,955	-78,371	-83,017	-90,979	-89,659	-74,868	-51,168	-35,707	-33,892	-50,353	-45,963	-74,788	-58,691	-43,975	-22,950	-17,389	-47,090	-36,490	-56,472	-58,109	-47,353	-36,869	-28,781	-14,801	-10,810	-17,443	-11,306	-11,126	-10,380	-11,846	-15,858	-7,740	-17,327	-18,803	-18,914	-45,457	-43,735	-32,341	-23,296
Financing activities
Borrowings from revolving line of credit
110,000	25,000	0	40,000	60,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	15,000	0	15,000	15,000	40,000	90,000	92,701	0	0	0	0	10,000
Tax benefit on vesting of restricted stock grants
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	3,910	-	0	0	2,630	0	0	0	1,016	0	0	0	145	1	0	0	705	-27	0	27	70	225	0	0	180
Proceeds from issuance of restricted stock under stock compensation plans
268	234	229	281	198	201	225	235	659	251	257	288	187	259	249	287	484	242	237	285	445	221	218	229	233	202	195	236	194	198	159	208	193	197	195	231	322	9	311	223	435
Payments on revolving line of credit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	0	0	40,000	10,000
Principal payments on long-term debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-532	180	10,178	174	-505	170	168	167	-477	161	159	188
Principal payments on capital lease obligations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	9,819	198	196	193	191	187	185	-	-	-	-	-	-	-	-	-	-	-	-
Payments from issuance of common stock under stock compensation plans
5,228	5,453	147	1,504	2,325	6,005	114	755	4,848	6,868	96	1,102	1,966	3,129	102	1,365	2,686	5,826	125	6,057	2,902	3,783	130	835	1,811	81	80	616	1,060	337	-15	533	538	1,752	55	312	657	-134	60	887	632
Net cash provided by financing activities
105,040	5,603	-77,008	29,463	57,873	-103,620	-7,197	-7,825	-4,189	-42,100	-5,297	-8,688	-1,779	-35,837	-8,730	-16,044	1,708	-29,281	-6,779	-76,059	173	-24,788	-14,345	-15,417	-758	-58,870	-66,489	-14,478	-906	-4,150	-36,411	-114,607	15,186	27,476	86,096	88,624	-432	-35,963	-3,755	71,568	-205
Net change in cash and cash equivalents
-32,001	21,155	-22,676	22,228	-46,483	-167,091	-38,976	-61,636	-30,389	21,015	151,989	20,460	-8,290	-8,869	19,858	68,017	-41,554	15,819	27,215	-19,479	7,494	26,279	54,919	25,590	-26,741	22,685	38,791	271	-3,986	1,181	18,928	3,842	-7,224	-621	10,525	549	-72,797	-29,279	5,496	96,537	-7,529
Non-cash investing activities:
Capital expenditures included in accounts payable
7,026	4,550	485	-5,988	11,162	11,888	-4,271	12,236	5,068	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	11	3,902	-	1	2	3,903	-	31	19	3,855	-	-	-	-