| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 |
|---|---|---|---|---|---|---|---|---|---|
Cash Flows From Operating Activities | |||||||||
Net income | |||||||||
-4,463 | 10,442 | 10,819 | 18,463 | 15,696 | 10,547 | -35,660 | -46,887 | 31,360 | 29,709 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||
Depreciation & amortization | |||||||||
33,546 | 28,396 | 26,239 | 23,042 | 22,236 | 19,925 | 14,316 | 10,530 | 8,651 | 7,237 |
Amortization of debt issuance costs | |||||||||
595 | 756 | 691 | 487 | 308 | 210 | 148 | 19 | 0 | 0 |
Debt issuance cost writeoff | |||||||||
- | - | - | - | 194 | - | 0 | - | - | - |
Loss on disposals of property, plant and equipment | |||||||||
-399 | -353 | -210 | -447 | -143 | -633 | -101 | -23 | - | - |
Impairment charges | |||||||||
0 | 652 | 1,072 | 0 | 0 | - | - | - | - | - |
Change in leases | |||||||||
-1,900 | 2,386 | 3,884 | - | - | - | - | - | - | - |
Deferred rent | |||||||||
- | - | - | -2,382 | -2,785 | -7,364 | 6,977 | 2,999 | 2,468 | 1,495 |
Change in fair value of warrants | |||||||||
- | - | - | - | - | - | 54,219 | -82,063 | 0 | 0 |
Other | |||||||||
- | - | - | - | - | - | - | - | 260 | 119 |
Stock based compensation | |||||||||
2,645 | 2,669 | 3,156 | 4,333 | 5,545 | 4,617 | 4,680 | 1,381 | 0 | 0 |
Deferred income taxes | |||||||||
-1,621 | 4,429 | 9,737 | -395 | 5,743 | 1,190 | 3,788 | -2,550 | 0 | 0 |
Deferred compensation expense | |||||||||
- | - | - | - | - | - | - | 3,897 | 1,415 | 450 |
Changes in operating assets and liabilities: | |||||||||
Receivables | |||||||||
286 | 703 | -33 | 448 | 254 | 514 | 189 | 270 | -208 | 200 |
Inventories | |||||||||
-12,475 | 24,836 | 10,964 | 4,417 | 1,021 | 1,101 | 20,866 | 280 | 8,386 | 9,016 |
Prepaid expenses and other assets | |||||||||
184 | 2,410 | -4,159 | 5,849 | 1,387 | -3,675 | -2,173 | 4,693 | -53 | 265 |
Prepaid inventory | |||||||||
- | - | - | - | - | - | - | - | 439 | 823 |
Accrued interest | |||||||||
- | - | - | - | - | - | - | - | 0 | 0 |
Accounts payable | |||||||||
-4,503 | -8,201 | 12,048 | 4,195 | 945 | -5,174 | 2,013 | 1,121 | -1,890 | 3,442 |
Income tax receivable / payable | |||||||||
-357 | -2,229 | 4,159 | 1,917 | -5,304 | -4,591 | 6,999 | 2,529 | 0 | 0 |
Payment of deferred compensation | |||||||||
- | - | - | - | - | - | -6,171 | - | - | - |
Accrued expenses and other liabilities | |||||||||
1,503 | 2,008 | -11,234 | 13,229 | 4,027 | 1,238 | 2,681 | 2,398 | 1,022 | 313 |
Net cash provided by operating activities | |||||||||
38,563 | 18,170 | 45,691 | 53,552 | 60,264 | 47,201 | 21,211 | 47,222 | 34,722 | 32,461 |
Cash Flows From Investing Activities | |||||||||
Proceeds from cash surrender value of life insurance policy | |||||||||
- | - | - | - | - | 687 | 0 | - | - | - |
Change in value of life insurance policy | |||||||||
- | - | - | - | - | 10 | 86 | 11 | 0 | 0 |
Purchases of property, plant and equipment | |||||||||
27,000 | 35,287 | 40,556 | 27,256 | 18,994 | 41,229 | 52,869 | 29,053 | 18,561 | 14,395 |
Proceeds from insurance | |||||||||
610 | 1,033 | - | - | - | - | - | - | - | - |
Proceeds from the sale of property, plant and equipment | |||||||||
- | 111 | 7 | 4 | - | - | - | - | 0 | 19 |
Net cash used in investing activities | |||||||||
-26,390 | -34,143 | -40,549 | -27,252 | -18,994 | -40,552 | -52,955 | -29,064 | -18,561 | -14,376 |
Cash Flows From Financing Activities | |||||||||
Payments of long-term debt and financing lease obligations | |||||||||
53,204 | 103,267 | 36,575 | - | - | - | - | - | - | - |
Release of restricted cash | |||||||||
- | - | - | - | - | -766 | -2,471 | - | - | - |
Payments on promissory notes | |||||||||
- | - | - | - | - | - | - | 69,771 | 0 | 0 |
Payments of long-term debt and capital lease obligations | |||||||||
- | - | - | 37,822 | 124,025 | 26,412 | 3,714 | 2,628 | 729 | 514 |
Advances on line of credit | |||||||||
63,000 | 129,095 | 35,000 | 10,000 | 88,000 | 23,000 | 25,566 | 72,600 | - | - |
Dividends paid | |||||||||
7,706 | 10,404 | 10,366 | - | - | - | - | - | - | - |
Contributions to NMTC fund | |||||||||
- | - | - | 3,174 | - | - | - | - | - | - |
Contributions to NMTC fund | |||||||||
- | - | - | - | 0 | 0 | - | - | - | - |
Payment of NMTC closing costs | |||||||||
- | - | - | - | 0 | 0 | - | - | - | - |
Distributions to members of Tile Shop LLC | |||||||||
- | - | - | - | - | - | - | 26,306 | 21,744 | 22,783 |
Net payments on line of credit | |||||||||
- | - | - | - | - | - | - | - | 0 | 1,522 |
Repurchase of warrants | |||||||||
- | - | - | - | - | - | 30,108 | - | - | - |
Repurchase of common units | |||||||||
- | - | - | - | - | - | 46,000 | - | 1,485 | 0 |
Repurchases of common stock | |||||||||
10,456 | - | - | - | - | - | - | - | - | - |
Proceeds from exercise of warrants | |||||||||
- | - | - | - | - | - | 82,413 | 4,001 | 0 | 0 |
Proceeds from exercise of stock options | |||||||||
- | - | 1,639 | 842 | 276 | 35 | 100 | - | - | - |
Employee taxes paid for shares withheld | |||||||||
256 | 119 | 318 | 56 | - | - | - | - | - | - |
Cash received in merger with JWC Acquisition Corp | |||||||||
- | - | - | - | - | - | - | 62,904 | 0 | 0 |
Proceeds from issuance of common shares to JWC Acquisition Corp's shareholders | |||||||||
- | - | - | - | - | - | - | 15,000 | 0 | 0 |
Payment to members of Tile Shop LLC for contribution | |||||||||
- | - | - | - | - | - | - | 75,000 | 0 | 0 |
Expenses for business combination | |||||||||
- | - | - | - | - | - | - | 2,463 | 0 | 0 |
Payment towards special cash distribution units | |||||||||
- | - | - | - | - | - | - | 300 | 300 | 300 |
Receipt on note from member | |||||||||
- | - | - | - | - | - | - | 1,205 | 263 | 257 |
Debt issuance costs | |||||||||
- | 374 | - | - | 968 | - | 300 | 594 | 0 | 0 |
Security deposits | |||||||||
- | - | - | -4 | 29 | -40 | -90 | 102 | 0 | 0 |
Net cash used in financing activities | |||||||||
-8,622 | 14,931 | -10,620 | -23,866 | -36,688 | -2,651 | 30,518 | -21,454 | -23,995 | -21,818 |
Effect of exchange rate changes on cash | |||||||||
-14 | -52 | 6 | -35 | -11 | - | 0 | - | - | - |
Net change in cash, cash equivalents and restricted cash | |||||||||
3,537 | -1,094 | -5,472 | 2,399 | 4,571 | 3,998 | -1,226 | -3,296 | -7,834 | -3,733 |
Supplemental disclosure of cash flow information | |||||||||
Purchases of property, plant and equipment included in accounts payable and accrued expenses | |||||||||
98 | 3,974 | 636 | 2,271 | 898 | 849 | - | - | - | - |
Cash paid for interest | |||||||||
3,735 | 2,625 | 1,822 | 1,811 | 2,692 | 3,146 | 2,521 | 349 | - | - |
Increase (decrease) in fixed assets through accounts payable | |||||||||
- | - | - | - | - | - | 4,783 | 1,516 | - | - |
Cash paid for income taxes, net | |||||||||
471 | 1,507 | 7,603 | 15,162 | 22 | 2,792 | 15,006 | 195 | - | - |