Boston beer co inc (SAM)
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'11
Cash flows provided by operating activities:
Net income

18,234

13,762

44,729

27,856

23,694

21,811

38,007

23,535

9,310

30,530

33,683

29,125

5,711

22,166

31,530

26,621

7,032

16,115

38,624

29,932

13,743

19,074

37,926

25,428

8,315

18,079

25,686

19,715

6,912

16,873

20,750

14,351

7,493

17,785

16,296

28,019

3,959

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

15,945

14,430

15,752

13,226

12,863

13,108

12,849

13,191

12,820

12,884

12,756

12,892

12,724

12,252

12,832

12,444

12,029

11,308

11,122

10,143

10,312

10,148

9,599

8,196

7,195

7,418

7,022

6,365

5,098

5,320

5,255

4,902

4,731

5,464

4,363

4,505

4,460

Impairment of assets

1,521

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

644

0

0

22

Loss on disposal of property, plant and equipment

-

-422

-345

167

-271

-19

-19

-169

143

-193

-549

5

-27

398

42

208

303

857

-3

-4

-335

-

-

-

-

-133

-139

155

-345

31

-67

2

-20

-1

0

-76

-41

Change in ROU assets

-1,807

-

-

-

-859

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Bad debt (recovery) expense

552

-

-

-

-

41

-12

20

-47

-

153

13

4

414

-115

-22

-33

153

61

-7

-42

-176

40

-55

175

60

-69

59

-31

62

-10

31

-24

-5

0

77

-17

Stock-based compensation expense

2,600

3,294

3,233

3,710

2,100

3,040

2,425

3,079

1,491

1,723

1,180

1,832

1,581

-1,974

2,381

3,055

2,686

1,447

1,586

2,011

1,621

1,533

1,387

2,001

1,936

1,555

1,981

2,245

1,537

1,347

1,307

2,489

1,385

1,427

1,229

2,417

1,105

Excess tax benefit from stock-based compensation arrangements

-

-

-

-

-

-

-

-

-

-

-

-

-

137

6,547

2,001

3,839

2,237

266

309

12,538

8,195

1,027

71

8,060

292

165

488

4,337

616

1,834

1,878

3,566

2,804

375

416

1,751

Deferred income taxes

2,379

-6,643

7,764

5,254

1,029

1,532

12,043

597

178

-18,861

-3,606

-92

117

2,779

4,089

1,024

351

7,998

-2,874

1,867

-5

15,193

258

-4

-97

11,743

95

0

-208

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities:
Accounts receivable

4,436

-14,272

-8,814

14,894

20,452

-18,776

-1,239

5,036

16,615

-9,603

-8,343

16,377

-1,376

-9,571

-10,618

11,489

6,166

-17,984

4,607

8,222

7,444

-12,987

-8,051

11,740

4,141

-10,512

9,025

13,213

-1,184

-2,595

-673

9,981

1,592

-7,549

4,284

4,868

1,558

Inventories

23,856

8,085

1,905

-411

15,353

476

2,200

10,470

8,166

-7,589

2,781

1,750

4,799

-3,342

-1,886

-492

5,275

-855

198

1,323

4,489

-8,303

-4,722

3,325

4,610

-3,116

8,079

-277

7,350

6,221

974

-964

4,058

3,302

-1,058

-2,068

7,282

Prepaid expenses, income tax receivable and other assets

884

-41

2,941

12,298

-1,336

-7,833

8,602

-4,906

4,689

7,363

-247

-5,389

2,784

-3,095

553

-4,229

-8,165

8,804

12,539

-3,666

-29,535

4,585

1,362

-2,369

5,869

1,901

-2,195

1,915

5,995

-4,516

-3,773

2,031

135

-1,249

2,562

114

719

Accounts payable

14,264

-971

-3,932

11,920

14,400

-14,208

-3

18,264

2,299

-5,126

-3,209

14,834

-6,254

2,760

-5,576

-2,820

3,825

-6,182

597

9,432

2,138

-1,145

-695

3,735

-1,011

-3,897

3,487

4,213

-630

338

1,589

2,384

3,691

-6,194

40

2,226

3,311

Accrued expenses and other current liabilities

-7,579

3,669

15,050

6,364

-6,465

3,821

-2,412

15,296

-6,575

-3,573

17

18,822

-12,595

-7,886

6,398

15,249

-8,282

-31,623

25,039

9,678

-12,108

-26,228

3,884

20,506

-2,740

-43,448

24,328

13,744

-9,257

4,241

10,891

10,522

-6,163

-6,484

325

10,758

-3,705

Change in operating lease liability

1,489

1,007

879

767

624

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other liabilities

-100

244

122

66

19

38

937

414

-658

-631

-136

-106

-148

142

58

-4,975

-1,529

955

7,353

257

167

2,039

-136

19

97

492

-4

34

-161

21

-123

-150

-77

171

-522

-146

-214

Net cash provided by operating activities

18,924

35,561

87,151

41,887

13,643

55,392

54,314

64,156

-10,415

27,744

47,196

66,082

-5,040

45,827

57,043

42,052

9,267

26,210

64,119

57,129

21,225

38,647

64,244

47,130

-8,810

33,103

48,891

30,819

-12,831

30,539

41,499

21,539

1,753

14,837

15,489

44,748

-2,314

Cash flows used in investing activities:
Purchases of property, plant and equipment

27,394

26,473

22,182

22,498

22,080

16,708

13,282

13,993

11,477

9,572

6,694

9,740

6,981

12,805

11,154

12,943

13,011

18,581

16,726

20,192

18,688

23,492

39,841

44,281

44,170

27,554

27,538

24,386

21,177

16,496

17,715

18,281

13,518

7,309

6,268

3,774

2,248

Proceeds from disposal of property, plant and equipment

35

21

-35

178

1

25

0

0

2

9

0

9

7

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash paid for acquisition of intangible assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

100

-

-

-

-

-

-

-

-

101

150

-2

1,477

-

-

-

-

Other investing activities

-96

-

-

-

-28

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in restricted cash

-

-

-

-

-

-

-

13

-111

-

-1

21

-16

22

-6

0

-56

0

0

0

-57

2

0

0

-55

0

0

0

-62

-

-

-

-

-

-

-

-

Net cash used in investing activities

-27,263

-26,686

-29,154

-180,938

-22,051

-16,730

-13,244

-14,006

-11,364

-9,526

-6,693

-9,752

-6,958

-8,976

-11,144

-12,943

-12,955

-18,581

-16,726

-20,192

-18,731

-23,494

-39,941

-44,281

-44,115

-27,536

-30,291

-24,386

-21,115

-15,597

-17,824

-18,907

-14,995

-7,309

-6,268

-3,774

-2,248

Cash flows provided by financing activities:
Repurchase of Class A Common Stock

-

-

-

-

-

1

48,586

23,085

16,640

23,067

43,355

44,912

33,268

26,603

10,380

63,900

63,775

51,911

61,012

13,292

9,490

-

-

-

-

-1

0

14,889

14,697

5,477

4,987

3,851

3,731

11,953

28,244

21,101

1,526

Proceeds from exercise of stock options and sale of investment shares

2,941

444

3,473

1,178

2,968

615

-1

2,225

19,304

256

1,097

193

13,869

2,675

7,931

9,174

20,347

1,339

668

587

39,745

3,831

315

130

22,996

272

53

372

1,844

1,357

955

1,532

1,883

2,797

274

513

523

Net cash paid on note payable and finance leases

209

132

131

43

72

0

0

15

63

0

0

0

60

0

0

0

58

0

0

0

54

0

0

0

53

543

182

0

62

-

-

-

-

-

-

-

-

Payment of tax withholdings on stock-based payment awards and investment shares

1,559

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash borrowed on line of credit

100,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefit from stock-based compensation arrangements

-

-

-

-

-

-

-

-

-

-

-

-

-

137

6,547

2,001

3,839

2,237

266

309

12,538

8,195

1,027

71

8,060

292

165

488

4,337

616

1,834

1,878

3,566

2,804

375

416

1,751

Net proceeds from sale of investment shares

-

-

-

-

-

236

225

259

186

185

149

147

315

199

199

68

270

287

314

286

521

-96

251

256

374

209

216

176

355

189

216

163

235

151

182

191

167

Net cash provided by (used in) financing activities

101,173

667

-33,886

39,181

2,896

850

-48,362

-20,616

2,787

-22,626

-42,109

-44,572

-19,144

-23,082

3,787

-52,657

-39,377

-48,048

-59,764

-12,110

43,260

4,071

1,593

457

31,377

231

252

-13,853

-8,223

-3,315

-1,982

350

1,953

-6,201

-27,413

-19,981

915

Change in cash and cash equivalents

92,834

9,542

24,111

-99,870

-5,512

39,512

-7,292

29,534

-18,992

-4,408

-1,606

11,758

-31,142

13,769

49,686

-23,548

-43,065

-40,419

-12,371

24,827

45,754

19,224

25,896

3,306

-21,548

5,798

18,852

-7,420

-42,169

11,627

21,693

2,982

-11,289

1,327

-18,192

20,993

-3,647

Supplemental disclosure of cash flow information:
Income taxes paid

5

14,001

3,062

13,490

207

101

7,897

2,896

459

20,598

17,596

4,587

225

9,039

13,284

6,692

1,963

21,086

14,254

9,321

417

19,133

15,586

5,654

1,951

12,262

6,578

6,313

4,289

9,609

1,903

6,062

1,208

14,652

15,560

9,666

678

Decrease in accounts receivable for ASU 2014-09 adoption

-

-

-

-

-

-

0

0

-1,310

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income taxes refunded

-

-

-

-

-

-

-

-

-

-

0

0

2

62

2

0

12,000

27

-1

-26

17,252

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash paid for amounts included in measurement of lease liabilities
Operating cash flows from operating leases

2,097

1,253

1,467

1,091

885

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating cash flows from finance leases

22

-

-

-

8

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Financing cash flows from finance leases

141

-

-

-

7

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Right-of-use assets obtained in exchange for operating lease obligations

11,088

16,288

3,154

11,490

27,034

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Right-of-use assets obtained in exchange for finance lease obligations

-

0

0

2,834

3

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in purchase of property, plant and equipment in accounts payable and accrued expenses

-1,029

-

-

-

118

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(Decrease) Increase in accounts payable for repurchase of Class A Common Stock

-

-

-

-

-

-

-

-

-

-

-

-

-

6,000

0

0

-3,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition of property and equipment under capital lease

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

21

231

-

-

-

-

-

-

-

-

Increase (decrease) in accounts payable for purchase of property, plant and equipment

-

-

-

-

-

737

-4,120

-1,967

2,741

6,452

-213

-5,291

1,741

1,443

365

-758

1,628

-2,618

1,909

-2,781

1,647

-3,122

-4,560

2,458

5,492

-

-

-

-

-

-

-

-

-

-

-

-

Allocation of purchase consideration to brewery acquisition to the following assets:
Property, plant and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

1

337

-

-

-

-

Tradename

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

1

400

-

-

-

-

Goodwill

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-2

1,163

-

-

-

-