Sonic corp (SONC)
CashFlow / Quarterly
Aug'18May'18Feb'18Nov'17Aug'17May'17Feb'17Nov'16Aug'16May'16Feb'16Nov'15Aug'15May'15Feb'15Nov'14Aug'14May'14Feb'14Nov'13Aug'13May'13Feb'13Nov'12Aug'12May'12Feb'12Nov'11Aug'11May'11Feb'11Nov'10Aug'10May'10Feb'10Nov'09
Cash flows from operating activities:
Net income

18,592

21,576

19,607

11,430

20,831

18,751

10,963

13,118

25,437

15,353

10,819

12,458

26,296

20,442

7,662

10,085

18,825

16,776

4,107

8,208

12,198

14,793

3,577

6,133

14,502

14,407

1,677

5,499

12,286

-4,651

4,348

7,242

4,996

12,105

396

8,342

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

9,863

9,566

9,560

9,366

9,717

9,520

9,734

10,277

10,957

11,405

11,057

10,999

11,258

11,435

11,539

11,660

11,123

11,022

10,031

10,034

9,940

9,783

10,069

10,595

10,650

10,288

10,510

10,466

10,419

10,139

10,367

10,300

10,657

10,645

10,647

10,666

Stock-based compensation expense

1,238

1,247

1,101

970

1,036

1,104

729

1,073

1,078

769

963

956

948

787

833

952

958

945

1,011

828

818

864

905

1,043

1,091

1,070

1,012

1,122

1,170

1,344

1,552

1,578

1,843

1,929

1,970

1,924

Noncontrolling interests

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

8,919

-7,439

1,038

2,112

Amortization of debt costs to interest expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

801

824

-

-

1,027

1,049

Other

1,455

1,130

348

343

-123

11,005

-6,589

-3,028

4,211

-351

-2,686

-722

13,955

-2,869

-833

58

3,132

-76

-938

-1,383

2,434

-771

549

169

1,950

-418

-747

3

466

2,510

69

-641

797

939

-1,451

806

(Increase) decrease in operating assets:
Restricted cash

4,199

4,984

-5,056

-5,016

3,663

2,610

313

-7,472

5,180

2,436

568

-5,355

3,373

2,572

-477

-5,407

3,407

1,468

1,465

-4,912

3,543

1,590

-611

-2,091

-131

3,156

-3,342

-2,269

320

7,259

-307

-2,136

-

-

-

-

Restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-4,676

Accounts receivable and other assets

-1,395

7,969

1,483

-3,703

-4,042

6,745

-3,230

-1,391

-6,654

7,059

-2,619

105

-3,816

8,707

-3,306

-4,470

1,809

10,445

-2,478

-3,799

-1,822

6,834

-2,768

-3,857

1,980

6,091

-2,420

-3,060

-5,145

7,323

3,252

-3,306

-5,870

6,568

2,093

-3,083

Increase (decrease) in operating liabilities:
Accounts payable

-1,802

-2,149

379

1,065

-1,510

-1,953

-4,225

3,284

-4,252

3,168

-4,818

6,282

-3,393

2,516

-232

-179

2,075

781

872

-3,088

222

1,116

291

695

-1,766

1,991

237

-1,394

-2,040

1,575

-2,448

2,361

-874

2,354

-3,569

1,567

Accrued and other liabilities

3,847

4,897

3,280

-12,175

1,817

2,904

3,756

-19,361

7,781

6,671

2,030

-11,962

2,198

12,846

-231

-4,517

3,030

9,532

-268

-4,947

2,332

9,006

-1,785

-4,424

458

5,370

1,241

-7,897

1,551

96

1,355

-3,283

-

-

-

-

Deposits from franchisees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-335

-140

Accrued and other liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,797

-3,398

Income taxes

-2,045

7,275

-8,723

3,358

-3,343

3,625

-8,586

5,005

-10,712

5,389

-6,426

2,507

-4,812

-247

563

5,763

2,395

4,239

-7,971

9,700

1,323

7,536

-9,800

-5,397

6,146

12,646

-8,275

3,294

7,179

-2,315

-5,501

1,299

-428

1,250

-8,662

-5,407

Total adjustments

8,122

3,640

-3,067

11,646

3,961

3,754

-2,619

6,113

12,540

24,121

2,171

13,310

9,564

23,277

15,422

23,614

13,665

18,362

3,750

19,855

19,791

19,110

3,608

8,629

16,680

21,700

9,740

10,923

23,580

25,372

-1,955

17,880

30,694

11,548

-1,579

11,102

Net cash provided by operating activities

26,714

25,216

16,540

23,076

24,792

22,505

8,344

19,231

37,977

39,474

12,990

25,768

35,860

43,719

23,084

33,699

32,490

35,138

7,857

28,063

31,989

33,903

7,185

14,762

31,182

36,107

11,417

16,422

35,866

20,721

2,393

25,122

35,690

23,653

-1,183

19,444

Cash flows from investing activities:
Purchases of property and equipment

12,167

6,360

14,108

4,055

9,382

9,374

12,927

14,845

20,086

8,659

9,350

8,458

11,286

7,516

12,521

10,830

24,270

23,151

23,969

7,618

12,960

14,461

8,025

5,892

11,237

5,116

4,112

3,710

6,461

5,189

5,275

4,275

5,276

6,344

9,690

3,158

Proceeds from sale of assets

5,368

11,288

4,305

685

29,348

35,320

16,247

10,826

3,505

3,211

7,875

1,615

9,612

1,757

1,727

605

495

623

414

616

1,133

481

29,746

2,115

1,367

569

7,871

122

3,738

650

417

1,643

1,314

112

3,884

8,961

Proceeds from sale of investment in refranchised drive-in operations

-

0

0

0

-

0

1,396

6,958

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(Increase) decrease in notes receivable

-

-

-

6,444

-

-

-

-3,479

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

129

-293

-5

-361

-671

2,915

-3,790

-799

-3,441

4,879

-1,963

-1,238

1,016

-1,060

4,042

-7,130

-6,752

3,417

-1,731

-1,271

-6,539

1,837

-1,464

-513

2,057

4,047

3,030

729

2,694

2,506

-3,486

-393

-252

-490

152

-224

Net cash provided by (used in) investing activities

1,451

4,075

-10,134

-9,453

16,313

24,941

12,017

7,217

-18,616

-10,327

488

-5,605

-2,690

-4,699

-14,836

-3,095

-17,023

-25,945

-21,824

-5,731

-5,288

-15,817

23,185

-3,264

-11,927

-8,594

729

-4,317

-5,417

-7,045

-1,372

-2,239

-3,710

-6,890

-4,810

6,027

Cash flows from financing activities:
Proceeds from sale of noncontrolling interests

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

107

160

254

Purchases of noncontrolling interests

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

415

6,101

943

1,818

Purchases of treasury stock

30,474

37,618

30,268

42,735

43,382

30,862

48,222

49,096

39,038

37,080

24,754

49,572

24,866

0

75,172

20,425

10,902

11,037

50,692

7,155

44

10,988

8,668

16,882

4,466

15,083

599

9,852

-

-

-

-

-

-

-

-

Payment of dividends

-

5,862

6,095

6,227

-

6,054

6,086

6,345

-

5,302

5,404

5,448

-

4,684

4,674

4,795

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on debt

2,125

0

149,000

22,000

13,999

6,001

3,354

1,062

1,070

361,623

26,449

32,948

26,448

58,947

2,448

2,447

2,636

2,447

2,447

2,446

158,423

3,608

23,709

3,759

3,949

3,755

3,758

3,758

38,936

502,388

69,685

13,162

15,445

69,120

6,165

15,566

Proceeds from borrowings

0

0

193,000

60,000

40,000

14,000

29,000

0

0

447,000

38,000

78,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Restricted cash for securitization obligations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,637

553

-2,263

-30

1,531

Proceeds from exercise of stock options

2,512

0

676

959

154

736

1,763

29

-2,036

2,124

3,157

597

2,969

1,440

6,644

7,679

707

4,373

6,366

5,961

5,162

8,181

2,673

327

-

-

-

-

-

-

-

-

68

2,965

308

63

Other

-2,524

-781

-1,585

-2,428

-1,078

-976

-984

-976

555

936

1,257

-1,162

469

-148

913

-1,089

-1,812

-359

-36

-695

-838

-604

-909

-1,101

-357

-952

-918

-926

-2,798

-3,463

3,403

-818

-350

-1,635

-4,641

-778

Net cash used in financing activities

-33,199

-48,660

34,300

-12,431

-70,815

-29,286

-27,561

-57,450

-46,631

34,109

-14,193

-10,533

-28,901

-43,330

-26,237

-21,077

-14,613

-9,470

-46,809

-4,335

-2,359

-7,019

-30,613

-21,415

-8,280

-19,790

-5,275

-14,536

-39,805

-4,489

-67,919

-12,343

-16,110

-76,047

-11,311

-16,314

Net increase (decrease) in cash and cash equivalents

-5,034

-19,369

40,706

1,192

-29,710

18,160

-7,200

-31,002

-27,270

63,256

-715

9,630

4,269

-4,310

-17,989

9,527

854

-277

-60,776

17,997

24,342

11,067

-243

-9,917

10,975

7,723

6,871

-2,431

-9,356

9,187

-66,898

10,540

15,870

-59,284

-17,304

9,157

Supplemental cash flow information
Cash paid during the year for:
Interest

7,955

8,330

7,208

7,088

6,872

6,800

6,710

6,700

6,900

6,152

6,083

5,748

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income taxes (net of refunds)

8,589

876

9,238

61

14,657

7,128

13,343

2,514

9,563

3,613

9,553

5,092

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Additions to direct financing leases from property, equipment and capital leases

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net additions to capital lease obligations

-

0

83

14

-

0

0

1,433

-

0

645

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in obligation to acquire treasury stock

-

0

421

-1,942

-

-731

-1,243

1,458

-

2,054

-175

-2,457

-

0

-26

-233

-

41

175

355

-

44

-2,296

1,194

-

-

-

599

-

-

-

-

-

-

-

-

Non-cash investing and financing activities:
Stock options exercised by stock swap

9,678

0

-1,895

4,592

451

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Tax benefit related to exercise of stock awards

-

-

-

1,714

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued PP&E at year end

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,625

184

2,742

189

182

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-