Trueblue, inc. (TBI)
Balance Sheet / TTM
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'11Dec'10Sep'10Jun'10Dec'09
ASSETS
Current assets:
Cash and cash equivalents

265,260

37,608

23,557

23,124

26,328

46,988

34,736

33,408

26,636

28,780

35,055

29,123

26,083

34,970

24,781

21,772

21,888

29,781

23,232

21,288

17,779

19,666

29,244

162,849

128,818

122,003

109,544

136,004

110,800

129,513

119,341

129,446

125,005

109,311

99,050

142,019

152

163,153

138,981

140,927

124,377

Marketable securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1,500

1,746

4,997

31,777

14,745

29,342

-

-

0

-

-

-

-

-

-

-

-

-

-

-

Accounts receivable, net of allowance for doubtful accounts of $6,379 and $4,288

292,988

342,303

367,038

335,488

327,038

355,373

384,867

370,588

322,388

374,273

380,473

337,058

302,082

352,606

364,618

353,367

325,297

461,476

362,016

324,021

290,746

359,903

310,926

208,413

186,084

199,519

213,193

199,315

191,896

167,292

183,101

163,794

144,388

153,878

174,384

143,016

120

108,692

133,775

115,822

105,246

Prepaid expenses, deposits and other current assets

24,987

30,717

26,836

22,664

24,291

22,141

23,757

21,006

22,424

20,605

18,923

18,430

20,005

21,373

22,280

20,134

24,924

23,553

18,977

15,811

15,803

18,778

17,522

8,696

9,305

9,491

12,158

7,609

8,482

8,541

8,376

7,135

8,928

9,252

8,254

11,974

9

9,981

8,601

8,060

9,079

Income tax receivable

10,169

11,105

8,559

11,066

8,329

5,325

9,763

7,964

7,382

4,621

5,945

10,094

9,306

18,854

24,157

16,943

13,584

28,155

1,977

6,442

10,438

10,516

7,934

682

466

3,060

513

6,995

8,988

6,373

432

0

1,474

1,874

0

4,393

6

4,898

135

3,953

1,399

Deferred income taxes, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7,592

6,123

7,700

5,444

10,173

8,942

7,572

7,640

5,525

6,280

6,022

5,447

6,253

4,527

5,032

6,300

4,678

5,077

5

6,776

5,130

5,181

7,962

Total current assets

593,404

421,733

425,990

392,342

385,986

429,827

453,123

432,966

378,830

428,279

440,396

394,705

357,476

427,803

435,836

412,216

385,693

542,965

413,794

373,685

342,466

415,807

377,545

394,579

364,022

356,458

370,275

356,203

326,188

317,166

317,503

304,902

284,827

280,615

286,366

306,479

295

293,500

286,622

273,943

248,063

Property and equipment, net

67,036

66,150

61,218

58,647

57,898

57,671

55,803

57,055

57,142

60,163

63,079

61,821

64,118

63,998

59,898

60,315

58,561

57,530

55,995

56,805

58,591

61,392

62,110

53,181

53,317

54,473

55,765

56,314

57,695

58,171

57,418

57,251

56,296

56,239

54,733

51,192

52

53,958

55,534

55,965

60,353

Restricted cash and investments

218,907

230,932

227,043

222,556

229,743

235,443

240,634

239,390

242,766

239,231

244,173

229,931

228,120

231,193

212,968

204,354

202,684

188,412

181,910

164,673

172,039

168,426

152,281

145,908

151,381

154,558

138,457

134,052

144,375

136,259

132,052

124,949

130,724

130,498

136,538

122,781

123

120,067

-

-

-

Deferred income taxes, net

26,665

3,228

3,469

2,106

1,177

4,388

0

1,005

2,414

3,783

1,037

3,229

6,004

6,770

4,374

1,904

-

0

-

-

-

-

0

6,998

5,714

4,213

4,177

4,292

5,559

2,562

3,677

6,609

7,092

4,818

3,597

2,109

2

2,400

7,476

6,629

6,630

Restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

117,654

114,464

124,012

Goodwill

93,290

237,498

235,646

237,126

238,006

237,287

238,648

239,380

224,099

226,694

226,771

226,191

225,952

224,223

225,905

225,228

291,394

268,495

241,855

241,855

241,855

241,855

232,293

82,239

82,239

82,239

74,629

74,629

70,613

48,079

48,139

48,139

48,139

48,139

48,139

38,039

36

36,960

36,960

36,960

36,960

Intangible assets, net

34,630

73,673

77,338

81,358

86,541

91,408

96,862

102,075

99,369

104,615

109,963

115,244

120,569

125,671

131,828

142,282

183,629

153,859

122,241

126,835

131,409

136,560

142,069

28,463

29,982

31,505

24,829

26,042

25,722

16,554

17,358

17,885

18,659

19,433

20,207

20,873

19

20,526

21,203

21,879

23,241

Operating lease right-of-use assets

39,234

41,082

36,794

37,978

38,717

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Workers’ compensation claims receivable, net

44,572

44,624

46,393

46,372

45,700

44,900

45,644

-

-

45,048

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other assets, net

17,407

17,235

17,154

16,402

16,254

13,905

10,899

52,349

49,331

1,218

46,931

47,752

48,528

50,787

53,299

51,458

50,682

48,181

46,117

44,124

41,111

42,631

34,429

35,387

35,040

36,015

30,381

24,156

23,896

22,952

22,496

21,060

20,275

21,027

19,061

18,906

19

19,055

19,454

19,619

18,870

Total assets

1,135,145

1,136,155

1,131,045

1,094,887

1,100,016

1,114,844

1,141,613

1,124,220

1,053,951

1,109,031

1,132,350

1,078,873

1,050,767

1,130,445

1,124,108

1,097,757

1,172,643

1,259,442

1,061,912

1,007,977

987,471

1,066,671

1,000,727

746,755

721,695

719,461

698,513

675,688

654,048

601,743

598,643

580,795

566,012

560,769

568,641

560,379

549

546,466

544,903

529,459

518,129

LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable and other accrued expenses

39,291

68,406

54,467

45,229

51,420

62,045

68,260

69,515

51,296

55,091

67,364

54,992

51,429

66,758

67,868

72,101

62,474

69,727

66,903

55,377

53,769

50,256

47,697

29,247

26,913

29,850

25,932

25,250

27,041

27,292

22,057

22,135

23,578

25,862

38,410

27,657

16

18,776

19,518

17,623

18,029

Accrued wages and benefits

55,871

67,604

76,957

72,431

66,832

77,098

83,260

77,113

66,903

76,894

79,607

75,222

63,711

79,782

83,841

76,198

71,057

86,070

80,007

72,295

65,693

69,692

69,749

44,598

40,472

39,094

51,303

46,944

41,242

35,102

43,510

41,299

36,726

35,271

36,502

30,584

28

24,464

26,285

27,230

21,728

Income tax payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,057

-

-

1,555

-

-

-

-

-

-

Current portion of workers’ compensation claims reserve

69,353

73,020

73,509

72,336

74,073

76,421

70,950

69,848

75,692

77,218

76,406

75,410

75,532

79,126

68,131

66,216

66,325

69,308

63,885

61,753

61,784

64,556

57,739

48,951

48,803

49,942

47,596

46,372

46,865

44,652

44,938

42,463

42,170

43,554

41,768

40,815

41

42,379

41,947

41,754

44,775

Operating lease current liabilities

14,554

14,358

14,161

14,453

14,638

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Contingent consideration

-

-

-

-

-

-

-

-

-

-

0

0

22,100

21,600

19,800

19,300

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Current portion of long-term debt

-

-

-

-

-

-

-

-

-

-

23,422

23,989

24,556

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other current liabilities

7,980

7,418

7,385

8,269

8,358

9,962

1,211

2,653

3,862

3,216

1,408

1,194

1,366

3,869

3,787

2,843

2,598

2,871

2,447

2,691

2,582

2,726

2,773

2,479

2,498

2,523

2,542

8,706

8,793

6,510

7,045

9,995

9,916

7,602

7,602

98

0

304

399

400

303

Total current liabilities

187,049

230,806

226,479

212,718

215,321

225,526

223,681

219,129

197,753

212,419

248,207

230,807

238,694

251,135

243,427

236,658

202,454

227,976

213,242

192,116

183,828

187,230

177,958

125,275

118,686

121,409

127,373

127,272

123,941

113,556

117,550

117,949

112,390

112,289

125,837

99,154

85

85,923

88,149

87,007

84,835

Workers’ compensation claims reserve, less current portion

184,102

182,598

185,761

187,001

187,993

190,025

194,968

195,240

194,052

197,105

202,929

202,707

199,861

198,225

210,087

207,902

203,686

196,972

188,978

185,549

181,214

178,283

176,204

165,086

166,287

164,887

160,159

160,180

159,051

150,937

152,835

150,262

148,797

148,289

146,273

145,192

145

144,927

147,637

145,236

144,726

Long-term debt

293,500

37,100

43,800

24,700

42,200

80,000

107,900

117,199

69,621

116,489

111,408

87,204

55,140

135,362

137,111

148,078

163,653

243,397

111,689

99,750

110,817

199,383

174,950

28,522

29,089

29,656

30,222

30,789

31,356

0

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes, net

-

-

-

-

-

-

300

-

-

-

-

-

-

-

0

0

18,417

19,499

15,887

18,911

21,726

19,768

19,321

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Long-term deferred compensation liabilities

23,460

26,765

25,476

25,069

25,023

21,747

23,570

23,268

22,458

21,866

-

-

-

14,946

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating lease long-term liabilities

26,744

28,849

24,896

25,995

26,723

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other long-term liabilities

4,348

4,064

3,968

4,397

4,469

6,107

6,039

6,083

6,131

6,305

26,033

24,581

23,287

5,598

21,008

19,470

37,817

36,025

14,834

15,215

14,444

12,673

12,328

11,506

10,837

10,149

3,923

3,955

3,791

3,576

3,718

4,715

4,828

6,612

5,942

2,973

2

2,909

2,884

3,025

3,136

Total liabilities

719,203

510,182

510,380

479,880

501,729

523,405

556,458

560,919

490,015

554,184

588,577

545,299

516,982

605,266

611,633

612,108

626,027

723,869

544,630

511,541

512,029

597,337

560,761

330,389

324,899

326,101

321,677

322,196

318,139

268,069

274,103

272,926

266,015

267,190

278,052

247,319

234

233,759

238,670

235,268

232,697

Commitments and contingencies (Note 7)

-

-

-

-

-

-

0

0

0

-

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

-

0

-

-

-

Shareholders’ equity:
Preferred stock, $0.131 par value, 20,000 shares authorized; No shares issued and outstanding

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

Common stock, no par value, 100,000 shares authorized; 36,128 and 38,593 shares issued and outstanding

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

0

1

1

1

1

Accumulated other comprehensive loss

-19,863

-13,238

-15,673

-14,016

-13,323

-14,649

-12,229

-11,634

-9,713

-6,804

-6,880

-8,447

-8,896

-11,433

-9,726

-11,757

-11,536

-14,013

-1,116

600

-374

871

1,408

2,575

1,836

2,033

2,342

2,262

2,516

2,818

3,013

2,509

2,904

2,643

2,442

3,201

3

2,906

2,415

2,178

2,275

Retained earnings

435,804

639,210

636,337

629,022

611,609

606,087

597,383

574,934

573,648

561,650

550,652

542,020

542,680

536,611

522,200

497,405

558,151

549,585

518,397

495,835

475,815

468,462

438,557

413,790

394,959

391,326

374,493

351,229

333,392

330,855

321,526

305,359

297,092

290,935

288,146

309,858

312

309,800

303,817

292,012

283,156

Total shareholders’ equity

415,942

625,973

620,665

615,007

598,287

591,439

585,155

563,301

563,936

554,847

543,773

533,574

533,785

525,179

512,475

485,649

546,616

535,573

517,282

496,436

475,442

469,334

439,966

416,366

396,796

393,360

376,836

353,492

335,909

333,674

324,540

307,869

299,997

293,579

290,589

313,060

315

312,707

306,233

294,191

285,432

Total liabilities and shareholders’ equity

1,135,145

1,136,155

1,131,045

1,094,887

1,100,016

1,114,844

1,141,613

1,124,220

1,053,951

1,109,031

1,132,350

1,078,873

1,050,767

1,130,445

1,124,108

1,097,757

1,172,643

1,259,442

1,061,912

1,007,977

987,471

1,066,671

1,000,727

746,755

721,695

719,461

698,513

675,688

654,048

601,743

598,643

580,795

566,012

560,769

568,641

560,379

549

546,466

544,903

529,459

518,129