Tal education group (TAL)
CashFlow / Yearly
Feb'18Feb'17Feb'16Feb'15Feb'14Feb'13Feb'12Feb'11Feb'10
Cash flows from operating activities
Net income

194,662

112,489

102,756

67,144

60,605

33,440

24,313

24,375

14,203

Adjustments to reconcile net income to net cash provided by operating activities
Depreciation of property and equipment

50,907

28,934

18,156

11,728

9,549

7,023

5,203

2,786

1,271

Amortization of intangible assets

8,306

4,627

1,026

737

461

343

490

678

790

(Gain) / loss on disposal of property and equipment

-47

-29

0

-47

-28

-20

-70

-

-

Share-based compensation

47,149

36,115

25,847

18,441

8,345

8,283

7,901

5,306

-

Impairment loss on operating assets

343

0

315

-

-

-

-

-

-

Impairment loss on long-term investments

2,212

8,074

7,503

0

0

-

235

-

-

Provision for doubtful accounts

-

-

-

0

0

-

-

-

-

Impairment loss on intangible assets

357

0

0

-

-

-

139

-

-

Loss from equity method investments

-7,677

-8,025

-663

-729

0

-

-

-

-

(Gain) /loss from fair value change of investments

936

-1,246

1,265

1,202

0

-

-

-

-

Gain from remeasuring fair value of previously held equity interests upon business acquisitions

0

25,225

971

0

0

-

-

-

-

Impairment loss on long-term prepayment

-

-

-

-

-

594

-

-

-

Gain from sales of available-for-sale securities

-

-

-

-

52

-

-

-

-

Gain from sales of long-term investments

9,025

0

211

0

297

-

-

-

-

Gain from transfer of a nonfinancial asset

0

0

1,907

0

0

-

-

-

-

Gain from disposal of components

0

0

50,377

0

0

-

-

-

-

Changes in operating assets and liabilities
Gain on extinguishment of liabilities

-

-

-

-

-

-

-

133

-

Inventory

2,498

2,222

-207

362

-228

186

105

-9

120

Amounts due from related parties

-368

2,286

732

0

0

-

-

-

-92

Prepaid expenses and other current assets

47,295

11,891

-1,297

8,272

5,382

1,658

4,265

2,639

835

Income tax receivable

12,848

2,244

-3,222

-6,601

9,824

-

-

-

-

Deferred income taxes

-5,180

3,343

787

2,340

1,042

636

430

673

544

Rental deposits

14,673

14,108

4,851

3,712

2,143

633

1,727

667

1,228

Other non-current assets

194

543

1,147

296

0

-

-

-

-

Accounts payable

30,978

5,357

3,778

1,988

106

-1,582

1,582

-60

987

Deferred revenue

323,050

193,224

66,443

45,172

29,887

16,919

34,916

21,202

11,349

Amounts due to related parties

3,133

-4,085

4,255

22

0

-

-

-28

6

Accrued expenses and other current liabilities

105,231

43,769

12,883

10,347

8,532

1,340

7,313

1,516

3,212

Long-term payable

-

-

-

-813

813

-

-

-

-

Income tax payable

-6,845

3,078

11,050

1,617

1,741

2,141

-2,240

2,359

-2,087

Net cash provided by operating activities

-

-

-

147,577

101,558

65,409

73,397

54,032

27,097

Net cash used in operating activities-discontinued operations

-

-

-

-

-

-

-

-210

77

Net cash provided by operating activities

685,292

379,020

197,154

-

-

-

-

53,822

27,175

Cash flows from investing activities
Restricted cash

7,784

3,427

586

1,506

602

2,040

-

-

-

Purchase of term deposits

0

10,184

87,632

43,384

73,876

46,123

64,358

25,870

-

Proceeds from maturity of term deposits

0

27,476

90,652

22,154

97,986

32,341

79,900

-

-

Loan to third parties

5,530

99,126

8,528

10,965

1,301

-

-

-

-

Repayment of loan to third parties

74,901

0

457

1,301

0

-

-

-

-

Prepayment for investments

43,571

58,835

0

0

-

-

-

-

-

Loan to related parties

2,641

147

3,815

478

0

-

-

-

-

Repayment of loan to related parties

2,759

2,184

1,068

0

0

-

-

-

-

Loan to employees

5,917

10,612

6,470

0

0

-

-

-

-

Repayment of loan to employees

5,761

1,987

0

0

-

-

-

-

-

Purchase of property and equipment

126,344

71,111

35,087

30,696

10,835

6,163

72,631

5,164

3,781

Purchase of short-term investments

1,197,155

313,950

27,470

765

0

-

-

-

-

Proceeds from maturity of short-term investments

657,532

109,461

765

0

0

-

-

-

-

Proceeds from deed tax refund related to purchase of building

-

-

-

-

1,252

-

-

-

-

Proceeds from disposal of property and equipment

927

559

390

91

42

89

3

-

-

Business acquisitions, net of cash acquired

14,008

27,200

21,825

5,974

-

-

-

-

-

Acquisitions of businesses, net of cash acquired of $nil, $102,988 and $22,876,868 for the years ended February 28, 2014, 2015 and February 29, 2016, respectively

-

-

-

-

8,179

-

-

-

-

Purchase of intangible assets

2,078

0

0

139

20

765

1,891

-

-

Payments for long-term investments

196,558

65,340

118,590

75,421

25,046

5,456

-

-

-

Proceeds from disposal of long-term investments

19,352

0

1,320

0

2,742

-

-

-

-

Purchase of available-for-sale securities

-

-

-

-

-

-

-

-

1,464

Proceeds from sales of available-for-sale securities

-

-

-

-

435

-

-

1,470

-

Payment for other long-term investments

-

-

-

-

-

-

117

-

-

Net cash used in investing activities

-

-

-

-145,785

-17,402

-28,118

-59,095

-29,564

-5,245

Net cash used in investing activities-discontinued operations

-

-

-

-

-

-

-

-3

-4

Net cash used in investing activities

-840,355

-518,265

-215,351

-

-

-

-

-29,567

-5,250

Cash flows from financing activities
Payback of convertible loan

-

-

-

-

-

-

-

-500

500

Payment for previous acquisition

-

-

-

-

-

-

83

-

-

Payment for share repurchase

-

-

-

-

-

2,435

-

-

-

Proceeds from issuance of convertible bond, net of issuance costs of $5,277,058

-

-

-

224,722

0

-

-

-

-

Payment for cost of Capped Call Transactions

-

-

-

22,885

0

-

-

-

-

Net proceeds from long-term debt

0

238,000

0

0

-

-

-

-

-

Repayment of long-term debt

0

25,000

0

0

-

-

-

-

-

Payments for purchasing noncontrolling interests

18,833

16,376

0

0

-

-

-

-

-

Cash dividend to shareholders (Note 25)

41,165

0

0

-

-

-

-

-

-

Capital injection from noncontrolling interests shareholders

20

0

0

-

-

-

-

-

-

Proceeds from initial public offering

-

-

-

-

-

-

-

129,433

-

Payment of issuance cost in connection with IPO

-

-

-

-

-

-

387

2,094

-

Capital contributed from shareholders

-

-

-

-

-

-

-

-

219

Payment of deferred acquisition consideration

-

-

-

-

-

-

-

344

180

Distribution to shareholders

-

-

-

-

-

-

-

-

1,442

Dividend to shareholders

-

-

-

-

-

39,030

-

30,000

-

Proceeds from private placement

500,000

0

0

-

-

-

-

120

-

Proceeds from exercise of share options

2,126

1,673

645

0

0

-

-

-

-

Cash paid for employee taxes on withheld shares from share-based awards

13,997

19,463

9,436

-

-

-

-

-

-

Net cash (used in) / provided by financing activities

428,150

178,833

-8,790

201,837

0

-41,465

-470

96,613

-902

Effect of exchange rate changes

-31,784

-3,413

-9,127

-3,404

694

674

1,582

1,545

37

Net (decrease) / increase in cash and cash equivalents

241,302

36,174

-36,115

200,226

84,849

-3,499

15,414

122,413

21,059

Supplemental disclosure of cash flow information:
Interest paid

13,805

7,329

5,750

2,779

0

-

-

53

-

Less: cash and cash equivalents of discontinued operation at the end of year

-

-

-

-

-

-

-

-

113

Cash and cash equivalents of continuing operations at the end of year

-

-

-

-

-

-

-

-

50,638

Income tax paid

71,021

36,648

21,028

12,374

15,832

2,404

6,686

2,846

3,997

Non-cash investing and financing activities:
Payable for purchase of property and equipment

9,922

8,328

3,478

1,090

730

728

370

177

125

Payable for purchase of intangible assets

3,449

0

0

-

-

-

-

-

-

Payable for investments and acquisitions

14,276

7,497

3,022

1,911

122

120

119

-

-

Conversion of convertible bond to Class A common shares

214,421

4,500

0

-

-

-

-

-

-

Class A Common shares issued for business acquisitions

0

17,023

8,869

-

-

-

-

-

-

Class A Common shares issued for purchase of noncontrolling interests

10,887

0

0

-

-

-

-

-

-