Tile shop holdings, inc. (TTS)
CashFlow / Quarterly
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'12
Cash Flows From Operating Activities
Net income

3,502

-4,246

-1,383

-154

1,320

-1,080

2,553

4,958

4,011

-7,351

2,438

7,723

8,009

273

4,583

6,849

6,758

3,786

3,761

4,490

3,659

1,506

1,503

3,829

3,709

1,423

4,050

3,584

-44,717

-35,812

-31,864

10,656

10,133

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

8,215

9,038

8,308

8,236

7,964

7,216

7,202

6,978

7,000

6,844

6,803

6,256

6,336

6,088

5,770

5,613

5,571

5,639

5,504

5,444

5,649

5,623

5,076

4,815

4,411

4,162

3,643

3,437

3,074

2,987

2,750

2,552

2,241

Amortization of debt issuance costs

149

149

148

149

149

149

269

171

167

165

177

175

174

71

104

155

157

70

70

52

116

54

55

53

48

-

-

-

-

19

0

0

0

Loss on disposals of property, plant and equipment

-

-309

-5

-3

-82

-277

268

-273

-71

-5

-53

-77

-75

-27

-34

-316

-70

-31

-63

-37

-12

-171

-327

-44

-91

-25

-14

-17

-45

-17

-3

-3

0

Impairment charges

2,155

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred rent

-

-

-

-

-

-

-

-

-

-

-1,359

-842

-710

-615

-671

-418

-678

-4,941

527

763

866

-13,051

1,088

3,008

1,591

2,430

1,041

1,675

1,831

831

-249

839

1,578

Change in fair value of warrants

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

106,064

-51,845

-40,356

-41,707

0

0

Stock based compensation

566

476

660

770

739

719

735

598

617

397

989

928

842

939

930

1,235

1,229

1,319

1,584

1,337

1,305

707

1,284

1,229

1,397

1,289

1,127

1,172

1,092

1,118

263

0

0

Deferred income taxes

4,456

-1,811

-95

221

64

3,014

396

593

426

6,265

949

1,300

1,223

-1,460

636

146

283

4,789

3,119

-1,164

-1,001

-

-

-

-

3,816

-381

634

-281

2,750

-5,300

0

0

Changes in operating assets and liabilities:
Receivables

839

-1,241

-351

-980

2,858

-639

506

332

504

-282

-361

51

559

-146

-293

485

402

-282

-13

-3

552

-184

-108

498

308

-217

-122

255

273

-88

-29

8

379

Inventories

-11,325

-2,460

-6,577

-4,147

709

3,785

5,884

12,109

3,058

14,333

3,640

-1,993

-5,016

7,916

3,247

-1,104

-5,642

6,682

-1,394

1,690

-5,957

5,882

3,394

-2,390

-5,785

-4,107

13,179

9,604

2,190

3,362

-1,125

-141

-1,816

Prepaid expenses and other assets

-223

231

-337

-516

806

36

1,157

-554

1,771

4

976

-550

-4,589

5,546

1,402

-523

-576

-247

1,169

41

424

-

-

-

-

-

-

-

-

978

238

3,845

-368

Other assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

8

-

-

-

-

-

-

-

-

Deferred taxes and other assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

568

-

-

-

-

Accrued interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Accounts payable

-2,772

-1,196

-3,803

-7,933

8,429

-1,651

-8,566

8,101

-6,085

6,627

6,436

1,398

-2,413

858

2,223

1,817

-703

-396

-1,304

3,789

-1,144

967

3,755

-546

-9,350

-4,051

520

5,098

446

-3,600

-588

2,379

2,930

Income tax receivable / payable

6,249

-719

226

593

-457

291

-239

-1,146

-1,135

2,996

1,545

3,506

-3,888

729

1,163

2,877

-2,852

2,065

1,191

-1,629

-6,931

593

-1,685

2,016

-5,515

6,282

-3,431

8,359

-4,211

-

-

-

-

Income tax receivable/ payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Accrued expenses and other liabilities

2,973

-1,324

2,041

-4,510

5,296

-3,096

-1,232

-1,513

7,849

-1,610

1,123

-2,911

-7,836

9,508

485

-1,526

4,762

1,234

220

-2,179

4,752

-567

1,620

-2,141

2,326

6,418

-5,056

-2,426

3,745

3,797

-2,659

111

1,149

Other, net

812

-

-

-

448

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by operating activities

22,892

4,951

11,653

2,280

19,679

2,449

-3,555

9,418

9,858

-3,664

14,527

14,774

20,054

2,874

9,917

13,288

27,473

8,883

12,591

12,664

26,126

9,088

12,002

10,904

15,207

8,177

-1,662

-3,564

18,260

5,682

8,853

12,851

19,836

Cash Flows From Investing Activities
Proceeds from cash surrender value of life insurance policy

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

10

0

215

462

-

-

-

-

-

-

-

-

Purchases of property, plant and equipment

645

4,161

5,016

5,625

12,198

12,394

9,744

8,303

4,846

12,525

8,031

10,037

9,963

7,611

7,942

5,328

6,375

6,798

4,599

3,022

4,575

6,840

8,955

13,361

12,073

16,492

14,532

10,702

11,143

12,866

4,049

5,670

6,468

Proceeds from insurance

-

0

0

0

610

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from the sale of property, plant and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

53

159

-

-

-

-

-

-

-

-

Net cash used in investing activities

-645

-4,161

-5,016

-5,625

-11,588

-11,263

-9,746

-8,288

-4,846

-12,518

-8,031

-10,037

-9,963

-7,607

-7,942

-5,328

-6,375

-6,807

-4,599

-3,013

-4,575

-7,052

-8,955

-13,093

-11,452

-16,578

-14,532

-10,702

-11,143

-11,877

-5,049

-5,670

-6,468

Cash Flows From Financing Activities
Payments of long-term debt and financing lease obligations

79,160

10,051

10,051

15,048

18,054

8,032

62,597

15,734

16,904

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Release of restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-12

0

0

-754

-

-

-

-

-

-

-

-

Payments of long-term debt and capital lease obligations

-

-

-

-

-

-

-

-

-

-

10,026

18,374

16,272

5,690

5,831

11,270

15,031

84,363

11,238

5,064

23,360

6,954

5,927

4,547

8,984

-35,024

8,412

24,268

6,058

925

1,120

483

100

Advances on line of credit

53,600

10,000

10,000

28,000

15,000

15,000

79,095

20,000

15,000

5,000

5,000

10,000

15,000

-

-

-

-

77,750

5,000

250

5,000

5,000

5,000

6,000

7,000

-

-

-

-

-

-

-

-

Dividends paid

-

0

2,494

2,606

2,606

2,604

2,600

2,600

2,600

2,602

2,596

2,587

2,581

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Distributions to members of Tile Shop LLC

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

16,032

6,081

4,193

Repurchase of warrants

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

30,108

-

0

0

0

Proceeds from exercise of warrants

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

40,592

41,821

3,402

599

0

0

Proceeds from exercise of stock options

-

-

-

-

-

-

-

-

-

4

1,533

60

42

222

295

316

9

195

62

9

10

0

30

0

5

-

-

-

-

-

-

-

-

Employee taxes paid for shares withheld

79

30

90

54

82

-

-

-

-

101

6

179

32

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Security deposits

-

-

-

-

-

-

-

-

-

-

-

-

-

2

-8

5

-3

34

5

-11

1

-71

2

25

4

-

-

-

-4

-

-

-

0

Net cash used in financing activities

-25,639

-82

-2,635

-163

-5,742

4,297

13,502

1,636

-4,504

10,398

-6,095

-11,080

-3,843

7,652

-5,544

-10,949

-15,025

-6,384

-6,171

-5,782

-18,351

-1,951

-899

1,428

-1,229

6,312

16,234

2,313

5,659

3,222

-14,761

-5,622

-4,293

Effect of exchange rate changes on cash

-11

15

-34

-25

30

-41

-3

-11

3

-24

22

3

5

-25

-3

-9

2

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net change in cash, cash equivalents and restricted cash

-3,403

723

3,968

-3,533

2,379

-4,558

198

2,755

511

-5,808

423

-6,340

6,253

2,894

-3,572

-2,998

6,075

-4,314

1,815

3,870

3,200

85

2,148

-761

2,526

-2,089

40

-11,953

12,776

-2,973

-10,957

1,559

9,075

Supplemental disclosure of cash flow information
Reclassification of warrants from liability to equity

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

39,863

110,002

-

0

0

0

Increase in other assets for exercise of warrants

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,332

-

-

-

0

Purchases of property, plant and equipment included in accounts payable and accrued expenses

15

-1,222

95

-253

1,478

1,745

741

-407

1,895

-4,299

2,528

-460

2,867

1,455

-10

-226

1,052

-472

1,120

-217

467

-846

-281

-627

2,603

-

2,093

1,077

1,455

-

0

0

0

Cash paid for interest

833

882

1,025

894

934

779

722

566

558

369

517

455

481

328

364

446

673

382

503

1,031

776

857

862

617

810

-

-

-

-

-

-

-

-

Cash paid for income taxes, net

22

-

-

-

-

1,267

54

185

1

28

1,758

5,861

-44

2,181

4,049

7,325

1,607

-994

3,627

1,557

-4,168

1,945

-679

-1,517

3,043

-

-

-

-

-

-

-

-