Thor industries, inc. (THO)
CashFlow / Quarterly
Jan'20Oct'19Jul'19Apr'19Jan'19Oct'18Jul'18Apr'18Jan'18Oct'17Jul'17Apr'17Jan'17Oct'16Jul'16Apr'16Jan'16Oct'15Jul'15Apr'15Jan'15Oct'14Jul'14Apr'14Jan'14Oct'13Jul'13Apr'13Jan'13Oct'12Jul'12Apr'12Jan'12Oct'11Jul'11Apr'11Jan'11Oct'10Jul'10Apr'10Jan'10Oct'09
Cash flows from operating activities:
Net income (loss)

27,026

51,845

92,491

31,438

-5,417

13,953

88,205

133,788

79,752

128,406

119,464

111,263

64,782

78,745

82,772

78,582

44,668

50,497

68,967

62,845

28,648

38,925

66,580

55,122

16,192

41,108

58,221

43,757

19,896

30,988

44,360

41,341

13,680

22,358

36,889

40,008

5,688

23,688

40,600

34,111

11,924

23,429

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

24,672

25,914

26,005

25,671

10,996

10,467

9,835

9,651

9,479

9,140

8,745

8,677

8,531

8,380

7,162

6,493

5,553

5,405

4,924

3,654

3,464

3,324

3,388

3,069

2,979

3,414

3,576

3,482

3,448

3,444

3,424

3,449

3,456

3,514

3,462

3,588

3,357

3,340

3,267

3,097

3,176

3,179

Amortization of intangibles

24,273

24,293

25,262

25,259

12,526

12,591

13,882

13,882

13,796

13,558

15,215

15,216

15,279

18,215

10,300

5,780

5,854

6,028

4,409

3,950

3,967

3,689

3,755

3,101

3,226

2,902

2,680

2,795

2,794

2,768

2,755

2,756

2,777

2,847

2,964

2,734

2,489

2,075

190

152

77

91

Amortization of debt issuance costs

2,686

2,685

2,748

2,656

392

393

393

392

392

393

393

392

392

393

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Impairment charges

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

710

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Foreign currency forward contract loss

0

0

0

2,930

-31,152

-42,555

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income tax provision (benefit)

657

-2,318

11,277

-2,302

-667

751

3,505

5,282

-28,668

5,356

30,291

4,970

1,994

2,297

12,737

118

3,550

-2,289

4,505

1,108

2,856

-1,177

3,633

2,646

-2,836

-1,266

2,518

7,180

2,391

-2,185

5,637

-3,416

777

444

2,484

-2,313

-332

3,000

1,056

-3,990

-330

-195

Gain on disposal of bus business

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-746

7,825

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Impairment of trademarks

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,430

0

2,036

-

-

-

-

(Gain) loss on disposition of property, plant and equipment

-622

-619

-612

-156

-1

30

-15

-17

12

1,470

-15

-16

74

2,188

55

27

-48

1

10

3

65

13

1,703

154

74

-34

-

-

-

-

-23

284

-50

-2

0

0

-97

26

-27

-25

-206

6

Stock-based compensation expense

5,062

5,013

4,832

4,632

4,956

4,530

4,014

4,255

4,413

4,318

3,442

3,166

3,154

2,738

2,396

2,312

2,400

2,279

1,729

1,720

1,762

1,565

1,288

1,295

1,272

1,376

765

739

643

669

204

161

162

161

153

862

847

845

777

199

202

209

Excess tax benefits from stock-based awards

-

-

-

-

-

-

-

-

-

-

-

-

-

-

29

0

0

291

21

0

0

114

164

0

59

737

173

0

507

60

-

-

-

-

0

20

50

446

-

-

-

-

Gain on involuntary conversion of discontinued operations assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

73

0

2,117

-

-

-

-

Changes in assets and liabilities:
Accounts receivable

56,418

65,307

-118,707

125,015

-159,009

16,556

-170,997

34,458

-13,991

152,921

-130,881

126,474

10,293

86,419

-96,339

49,765

14,733

47,614

-110,697

69,356

35,887

-35,870

-116,044

155,741

-9,139

-21,110

-33,983

62,368

34,547

-16,317

-54,239

111,634

9,442

-4,245

-95,399

88,213

36,356

-43,818

-41,869

59,324

12,639

19,090

Inventories

27,847

82,152

-138,262

-168,982

-3,504

27,437

-69,276

16,822

73,035

56,840

820

-17,930

60,471

13,258

-13,555

707

3,175

25,255

-42,291

12,064

9,980

5,497

-34,588

11,365

24,709

43,288

-21,344

11,067

8,492

38,822

-14,820

8,678

9,100

-1,373

-39,492

12,013

30,877

14,050

-27,702

802

28,136

28,751

Notes receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-6,000

-1,036

-26

-

-

-

-

-

-

-

-

Prepaid income taxes, expenses and other

1,369

-6,649

4,024

-22,603

14,682

17,011

56

7,001

4,731

2,409

9,276

-3,843

5,807

2,648

-2,729

-6,073

2,194

5,889

-1,466

-5,925

6,124

4,267

293

-12,660

12,690

1,860

3,930

-11,850

7,357

1,690

858

-4,757

1,829

3,251

1,483

-7,165

8,324

476

598

-3,155

2,801

-3,527

Accounts payable

47,397

19,639

-24,658

-33,641

-33,058

-29,150

-70,331

2,360

-6,236

33,471

-18,513

57,060

29,845

-1,254

-6,459

16,162

-9,745

28,667

-56,768

20,016

23,863

-13,743

-15,754

36,560

-11,075

3,916

-20,838

14,054

20,887

1,346

-29,473

40,793

14,552

-2,437

-12,306

1,754

22,661

-27,512

-4,535

12,790

-1,353

18,336

Accrued liabilities

-623

-46,593

-41,430

25,031

-19,995

-10,218

-19,808

38,100

-28,609

39,892

16,471

40,251

8,319

-1,966

-2,507

27,292

-1,348

2,579

-10,579

22,688

-4,660

-7,479

-10,884

41,362

-8,508

-14,264

3,239

37,634

-8,453

-102

-5,067

24,164

-3,042

-7,870

1,595

13,058

7,595

-25,523

668

34,193

-10,099

17,243

Long-term liabilities and other

2,414

3,080

8,187

-629

413

830

6,406

1,458

5,562

3,233

773

3,648

-110

2,822

2,704

965

83

198

-6,134

-35

1,005

-3,412

-10,401

1,032

-2,973

-2,009

2,067

-1,869

-3,385

1,766

-1,656

1,893

698

929

592

3,067

1,292

1,042

-10,861

-3,013

1,726

481

Net cash provided by operating activities

57,295

-51,997

332,217

41,172

150,464

-15,834

269,323

140,340

43,430

13,415

236,499

130,018

51,553

1,263

196,301

93,042

32,974

18,892

156,466

38,232

3,137

50,025

182,811

-15,705

-23,698

5,853

100,368

43,365

-13,106

14,439

81,524

1,302

13,674

22,341

164,589

-28,568

-30,913

9,694

101,838

18,408

-38,047

18,453

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

21,638

31,220

46,475

28,947

20,349

34,453

38,176

37,018

28,720

34,283

35,571

28,532

24,760

26,164

12,565

14,872

8,617

15,922

13,269

12,853

7,620

8,541

10,975

6,760

7,540

5,131

9,594

4,803

4,015

5,893

3,777

2,797

1,448

2,041

4,924

2,905

9,278

16,642

4,087

1,437

5,862

911

Proceeds from dispositions of property, plant and equipment

1,399

18,951

1,451

1,215

5

61

179

104

26

3,526

52

76

225

4,329

111

189

7

40

290

50

28

13

7,782

356

496

65

-

-

-

-

-

-

-

-

8

0

34

648

8

3,379

920

659

Proceeds from sale of bus business

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

5,043

2,323

97,677

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Insurance proceeds from involuntary conversion of discontinued operations assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

73

0

2,496

-

-

-

-

Business acquisitions, net of cash acquired

-

-

-

-

-

-

-

-

-

-

0

0

0

5,039

-

-

-

-

145,221

0

46,350

2,915

52,409

196

-287

33,774

0

0

6,804

3,914

0

0

0

170

0

0

0

99,562

-

-

-

-

Proceeds from dispositions of investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

700

-

-

-

-

-

-

-

-

1,100

0

450

2,150

71,650

12,950

16,250

15,000

Proceeds from notes receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

8,367

-

-

-

-

0

0

3,725

2,700

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

2,993

1,534

2,157

0

0

0

0

-311

-319

-641

-310

-632

-287

2,500

-

-

-

-

0

-5

-8

-7

781

1,000

-121

-219

-

-

-

-

0

0

-400

-200

-

-

-

-

-

-

-

-

Net cash used in investing activities

-23,232

-13,803

-48,431

-1,758,836

-23,844

-34,392

-41,497

-83,505

-28,375

-30,116

-35,209

-27,824

-24,248

-29,374

-570,052

-15,296

-8,610

-7,515

-158,200

-12,798

-52,534

-11,436

-2,978

-55,962

-588

62,456

3,449

-4,555

-3,083

-9,807

-3,346

-2,360

-137

-2,011

-2,816

-3,832

-8,794

-110,910

68,877

-1,956

1,308

14,748

Cash flows from financing activities:
Borrowings on revolving asset-based credit facilities

33,438

41,569

0

100,000

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments on term-loan credit facilities

15,207

140,181

241,187

1,732

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments on revolving asset-based credit facilities

42,032

5,577

60,000

40,000

0

0

80,000

0

10,000

55,000

150,000

30,000

15,000

20,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments on other debt

4,057

3,001

0

70,319

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Regular cash dividends paid

-

-

-

-

-

-

-

-

-

-

-

-

-

-

15,743

15,742

15,742

15,743

14,144

14,413

14,412

14,412

12,257

12,257

12,257

12,253

9,548

9,545

9,542

9,527

-

-

-

8,227

5,585

5,584

5,582

5,578

3,602

3,602

3,602

31,602

Principal payments on finance lease obligations

107

107

104

98

101

102

99

93

92

94

91

85

84

81

80

78

84

86

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefits from stock-based awards

-

-

-

-

-

-

-

-

-

-

-

-

-

-

29

0

0

291

21

0

0

114

164

0

59

737

173

0

507

60

-

-

-

-

0

20

50

446

-

-

-

-

Proceeds from issuance of common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

715

0

198

2,293

4,665

89

400

691

-

-

-

-

0

598

105

344

-

-

-

-

Purchase of treasury stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

57,000

20,000

-

-

-

-

-

-

-

-

Payments related to vesting of stock-based awards

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

55

0

546

705

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Short-term financial obligations and other, net

17,373

-7,477

7,251

-6,092

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in financing activities

-58,514

-114,774

-316,471

1,901,354

-45,708

-102

-99,596

-19,591

-56,743

-55,094

-167,443

-47,438

-54,360

-20,081

336,356

-15,820

-18,310

-15,538

-74,206

-14,272

-15,974

-14,298

-11,433

-12,257

-65,836

-9,928

-4,710

-9,456

-90,169

-8,776

-7,522

-7,162

-64,869

-28,227

-5,585

-4,966

-5,427

-4,788

-3,602

-3,586

-119,022

-31,602

Effect of exchange rate changes on cash and cash equivalents and restricted cash

-360

-206

-2,966

-2,610

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

209

122

-81

Net increase (decrease) in cash and cash equivalents and restricted cash

-24,811

-180,780

-35,651

181,080

80,912

-50,328

128,230

37,244

-41,688

-71,795

33,847

54,756

-27,055

-48,192

-37,395

61,926

6,054

-4,161

-75,940

11,162

-65,371

24,291

168,400

-83,924

-90,122

58,381

99,107

29,354

-106,358

-4,144

70,656

-8,220

-51,332

-7,897

156,188

-37,366

-45,134

-106,004

167,113

13,075

-155,639

1,518

Supplemental cash flow information:
Income taxes paid

22,141

24,512

17,941

12,144

12,525

45,203

32,675

48,997

63,449

73,720

67,817

33,622

42,956

54,224

42,707

22,401

27,975

35,326

41,062

14,515

23,301

36,246

34,357

8,506

19,728

34,970

25,920

6,955

17,436

25,250

23,114

5,797

9,421

23,217

11,031

10,870

7,573

28,315

21,345

7,384

21,274

4,203

Interest paid

27,954

25,592

32,475

23,659

597

458

814

973

953

1,161

1,906

2,186

2,059

2,407

164

166

168

174

-

-

-

-

0

2

0

132

146

98

87

80

189

101

127

143

60

45

37

70

75

110

111

99

Non-cash investing and financing transactions:
Capital expenditures in accounts payable

-506

3,137

-1,793

5,635

-2,573

3,063

3,293

-2,847

854

4,075

3,661

-299

-963

3,867

2,575

378

53

532

915

405

-133

353

-481

438

-707

1,518

595

-423

239

325

722

-48

33

144

34

233

-116

321

522

-263

240

24

Common stock issued for business acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

90,531

-

-

-

-

Other accounts receivable from disposal of bus business

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-3,286

8,329

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Special dividend payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

53,290

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-