TrueBlue, Inc. TBI Cash Flow

Trueblue, inc. (TBI)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jul'18	Apr'18	Dec'17	Sep'17	Jun'17	Mar'17	Jan'17	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10
Cash flows from operating activities:
Net income (loss)
-150,494	8,715	26,676	19,406	8,276	14,887	24,380	17,732	8,755	16,427	21,221	13,134	4,674	18,087	23,429	-63,735	6,968	28,168	20,090	17,273	5,716	27,025	20,911	16,083	1,656	14,512	18,950	12,538	-1,076	7,415	14,347	10,337	1,530	7,564	13,914	8,547	766	3,959	10,219	5,663	-2
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization
9,094	9,021	8,749	9,827	9,952	10,272	10,586	10,101	10,090	11,465	11,189	12,287	11,174	12,019	11,690	11,694	11,289	10,428	10,498	10,397	10,520	9,348	9,718	5,247	5,161	5,339	4,771	5,203	5,159	4,734	4,660	4,728	4,768	4,395	4,205	3,862	3,922	4,580	3,874	8,009	4
Goodwill and intangible asset impairment charge
175,189	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Provision for doubtful accounts
2,660	-	-	-	-	-98	4,569	3,362	2,209	487	2,702	2,173	1,446	1,947	2,140	2,913	1,308	2,649	507	2,231	1,745	2,196	3,333	2,799	3,487	3,278	2,370	4,763	1,652	2,689	2,283	973	1,049	2,214	2,299	1,549	576	2,330	1,500	4,325	2
Provision for doubtful accounts
3,289	-	-	-	1,778	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Stock-based compensation
1,508	1,650	2,859	1,654	3,606	4,324	3,569	2,574	3,409	1,583	1,015	1,842	3,304	1,920	1,401	2,863	3,179	2,820	2,514	2,380	3,389	2,149	3,915	2,111	2,876	1,984	1,834	1,714	2,880	1,649	1,422	1,944	2,902	1,849	1,486	1,522	2,575	1,747	1,497	3,912	2
Deferred income taxes
-23,432	205	-1,335	-816	3,209	-4,567	1,265	3	1,370	-2,450	1,915	2,249	726	-1,481	-2,470	-20,321	-1,083	11,205	-4,492	-1,238	-299	6,586	10,165	-2,655	-1,433	-2,150	870	1,009	-3,573	1,900	1,206	991	-1,006	-2,809	-1,092	1,301	690	3,336	-796	2,780	1
Non-cash lease expense
3,763	3,736	4,153	3,369	3,565	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other operating activities
-5,375	-112	-371	231	1,841	-4,628	-424	-674	572	375	-702	-942	-1,080	-2,307	-3,339	-1,250	-1,014	-426	658	-994	316	-1,046	94	-381	435	-903	-365	-668	-180	-750	-224	-1,373	401	2	-14	1,012	-527	343	-204	62	0
Changes in operating assets and liabilities:
Accounts receivable
-45,407	-23,066	33,778	10,396	-26,558	-29,600	18,848	41,791	-42,679	-5,715	46,123	37,152	-49,077	-10,063	13,390	30,955	-147,067	82,877	38,503	35,505	-67,411	51,238	11,211	25,129	-9,949	-20,595	16,248	13,510	-4,982	-13,120	21,590	20,379	-8,441	-18,292	33,667	24,155	12,294	-22,753	19,453	14,906	-2
Income tax receivable
-435	2,498	10,329	-9,992	3,645	-4,393	9,030	-799	-2,842	-27,663	3,960	-737	9,565	5,432	-7,220	-3,504	14,742	-26,351	4,638	4,092	943	-2,517	-6,826	80	3,567	-10,693	6,723	1,993	-2,136	-5,954	-2,282	3,451	1,037	-3,437	5,931	2,283	-1,264	-4,683	3,795	-2,446	-3
Other assets
-5,958	3,126	4,977	-802	5,274	818	8,588	1,558	1,964	1,017	-329	-2,350	-3,627	-4,033	3,988	-4,093	3,668	2,713	5,159	3,022	-4,496	851	6,444	-265	331	2,638	5,044	-90	-251	622	2,676	-1,008	-1,076	2,964	-3,565	2,303	-458	980	59	-311	-0
Accounts payable and other accrued expenses
-28,443	13,891	9,572	-6,664	-9,878	-150	-588	8,999	-5,232	-6,873	12,397	1,834	-15,015	-337	-4,518	10,435	-9,681	5,808	11,534	1,550	4,369	-6,996	-1,121	2,741	-3,307	3,136	768	-506	-6,990	4,430	267	-529	-2,644	-14,211	10,753	11,428	-2,547	-742	1,895	-404	-1
Accrued wages and benefits
-11,733	-9,353	4,526	5,599	-10,266	-6,162	5,972	8,702	-10,125	-2,537	4,384	11,511	-16,071	-4,059	7,643	5,256	-16,153	1,888	7,712	6,602	-3,999	696	6,082	3,911	1,380	-15,062	4,366	2,992	4,061	-8,430	2,299	4,436	1,513	-1,240	5,918	2,420	3,695	-1,808	-954	5,514	-0
Workers’ compensation claims reserve
-2,163	-3,652	-67	-2,729	-4,380	528	830	-4,656	-4,579	-3,033	1,218	2,724	-1,957	-868	4,100	4,107	3,731	4,712	5,561	4,304	159	1,047	1,324	-1,053	261	7,074	1,202	1,034	549	-2,184	5,048	1,758	-876	3,802	2,034	-757	-542	-2,278	2,594	-2,508	-2
Operating lease liabilities
-3,811	-3,881	-18,254	10,371	-3,414	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other liabilities
-2,334	1,443	-1,451	-94	3,268	229	-2,638	1,263	1,637	-2,127	1,666	-3,068	2,488	-558	2,482	466	1,792	-4,408	-623	880	1,626	-869	1,229	646	664	6,287	237	28	158	-142	3	-26	303	673	-32	-9	-103	-529	-44	166	0
Net cash provided by operating activities
27,608	40,993	15,559	15,465	21,514	57,066	19,185	4,606	44,835	19,352	16,575	10,089	54,118	48,505	28,913	23,831	160,505	-48,245	13,619	10,938	95,760	-12,378	30,981	5,427	23,495	40,791	21,164	18,016	6,097	19,355	5,211	10,065	17,692	14,126	15,328	5,730	-4,595	27,624	3,864	10,481	3
Cash flows from investing activities:
Capital expenditures
7,028	9,822	7,233	5,202	5,862	6,741	3,845	4,557	1,911	5,655	7,166	2,970	6,167	11,276	6,336	7,554	3,876	5,804	5,131	4,001	3,458	6,705	4,100	4,022	2,091	2,653	3,150	3,248	3,952	3,896	4,395	5,831	3,704	3,456	2,573	1,987	1,691	1,794	2,799	2,456	0
Payments to Acquire Businesses, Gross
-	-	-	-	-	-	-	-	-	-	-	-	-	613	0	-137	72,000	67,500	0	0	0	-	-	-	-	22,688	-1	1,625	53,248	0	0	0	0	-	-	-	-	-	-	-	-
Divestiture of business
-	-	-	-	-	173	1,614	300	8,500	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of restricted available-for-sale investments
1,149	-	-	-	3,070	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Sales of restricted available-for-sale investments
1,269	-	-	-	1,886	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Maturities of restricted held-to-maturity investments
6,168	-	-	-	8,451	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of marketable securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	25,057	5,500	15,385	19,915	0	-	-	-	-	-	-	-	-	-	-	-	-
Sales and maturities of marketable securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	1,500	250	7,742	26,725	9,450	19,845	205	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Change in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	20,505	-1,997	-2,327	3,592	-5,304	-4,843	-16,442	8,215	19,303	8,987	-20,498	1,491	14,784	5,047	-8,198	4,489	-7,100	9,287	-6,245	-3,529	-3,400	5,161	-70,900	635	2,413	3,190	-9,545	-2
Purchases of restricted investments
-	-	-	-	-	-	1,017	7,431	3,299	-	15,303	5,737	14,975	1,233	14,864	9,854	11,222	12,698	25,859	12,959	0	-	-	-	-	4,236	2,386	5,424	1,365	15,625	0	10,491	7,662	405	9,489	75,173	3,106	0	0	0	0
Maturities of restricted investments
-	-	-	-	-	-	3,977	6,627	6,417	-	1,496	9,123	4,423	2,975	3,857	5,252	3,164	1,463	3,543	3,216	4,288	2,138	3,386	2,987	4,215	2,244	2,466	6,743	4,128	3,698	1,692	8,819	3,907	3,045	893	5,300	0	-	-	-	-
Other
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1	326	-28	-0
Net cash provided by (used in) investing activities
-740	-9,928	-9,009	-4,099	1,405	-3,148	729	-27,803	9,707	-17,105	-20,973	416	-16,719	-30,652	-15,346	-9,692	-87,526	-79,235	-22,604	2,698	-5,885	-21,524	-309,931	27,992	-14,974	-27,772	-23,296	-15,271	-58,926	-8,723	-12,240	-1,258	-3,930	2,584	-20,330	-3,760	-5,432	-4,208	-6,315	7,118	1
Cash flows from financing activities:
Purchases and retirement of common stock
52,348	7,510	22,239	3,774	5,303	10,000	5,753	19,065	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net proceeds from employee stock purchase plans
323	306	323	320	380	357	389	362	395	467	321	367	491	359	343	363	477	399	327	426	411	518	324	747	602	405	2,708	3,757	2,266	358	664	248	2,894	257	258	192	424	299	219	535	0
Common stock repurchases for taxes upon vesting of restricted stock
1,792	288	303	193	1,438	865	136	317	2,086	171	83	473	2,400	159	371	92	2,229	144	542	157	3,026	93	356	191	2,474	147	471	172	2,010	78	80	189	1,807	84	81	151	1,460	101	107	1,358	1
Net change in Revolving Credit Facility
256,400	-6,700	19,100	-17,500	-37,800	-27,900	-9,300	67,601	-46,301	-15,508	24,204	32,064	-57,367	-993	-10,400	-15,198	-78,988	132,085	12,506	-10,500	-88,000	25,000	146,994	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from long-term debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	34,000	0	0	0	0	-	-	-	-	-	-	-	-
Payments on debt
-	-	-	-	-	-458	-1	22,289	567	567	567	566	567	756	567	377	756	378	567	567	566	567	567	566	567	566	7,000	718	397	561	3,899	88	0	-	-	-	-	-	-	-	-
Payments on other liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	96	103	103	-	96	185	0
Other
-508	-93	-84	-50	-69	-	-	-	0	-	-	-	-	-49	-5	-146	171	-55	173	96	865	-264	-27	296	973	-7	242	-1	479	-13	208	-81	637	-10	-17	150	541	81	-13	60	0
Net cash provided by (used in) financing activities
202,075	-14,285	-3,203	-21,197	-44,230	-37,950	-14,799	26,292	-48,559	-23,088	10,034	-2,438	-59,843	-7,346	-11,000	-15,450	-81,325	131,907	11,897	-10,702	-90,316	24,594	146,368	286	-1,466	-315	-4,521	2,866	34,338	-294	-3,503	-4,100	1,724	-6,626	-37,208	-12,783	-598	179	3	-948	-0
Effect of exchange rate changes on cash, cash equivalents and restricted cash
-1,738	204	172	246	314	-959	336	-159	-760	-173	518	185	-339	-318	442	1,195	453	2,122	-968	575	-1,446	-270	-1,023	326	-240	-246	109	-322	-222	-166	427	-266	208	177	-759	42	262	577	502	-106	0
Net change in cash, cash equivalents and restricted cash
227,205	16,984	3,519	-9,585	-20,997	15,009	5,451	2,936	5,223	-21,014	6,154	8,252	-22,783	10,189	3,009	-116	-7,893	6,549	1,944	3,509	-1,887	-9,578	-133,605	34,031	6,815	12,458	-6,544	5,289	-18,713	10,172	-10,105	4,441	15,694	10,261	-42,969	-10,771	-10,363	24,172	-1,946	16,545	4
Supplemental Cash Flow Information [Abstract]
Interest
394	665	568	532	667	978	1,503	1,065	827	1,199	1,063	794	755	1,012	1,090	660	1,321	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	337	523	0
Income taxes
-1,751	2,936	1,953	5,829	1,448	3,066	4,136	3,354	2,342	7,565	1,768	3,747	-8,487	1,511	12,646	9,138	-12,983	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,106	418	0
Operating lease liabilities
4,440	4,363	4,482	4,454	4,344	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Property and equipment purchased but not yet paid
322	48	-282	420	807	324	503	145	581	-2,488	-25	1,727	1,161	-773	283	-126	2,087	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Divestiture non-cash consideration
-	-	-	-	-	-173	-686	-300	1,957	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Right-of-use assets obtained in exchange for new operating lease liabilities
2,422	7,934	3,114	3,013	4,698	-	-	-	0	-	-	-	-	0	0	-827	4,610	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-