Texas Roadhouse, Inc. TXRH Cash Flow

Texas roadhouse, inc. (TXRH)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	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 including noncontrolling interests
17,152	44,611	38,026	46,688	52,193	31,693	30,259	45,963	56,379	30,010	32,324	39,179	36,023	21,908	26,803	34,861	37,001	24,020	21,394	22,266	33,581	19,622	19,722	24,025	27,608	18,159	17,844	20,865	27,219	14,706	18,494	20,848	19,753	12,837	16,416	16,699	20,475	10,662	14,481	15,668	19,878
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
29,054	30,970	28,347	28,454	27,773	25,724	25,843	25,165	24,484	24,263	23,534	23,106	22,596	22,246	20,941	20,238	19,539	18,700	17,843	16,816	16,335	15,497	15,164	14,433	14,085	14,698	12,462	12,190	12,212	11,996	11,828	11,546	11,347	10,985	10,571	10,553	10,600	10,422	10,262	10,262	10,337
Deferred income taxes
433	9,995	-926	-1,640	-1,094	10,173	-1,463	260	3,349	578	-1,867	1,109	-4,889	9,264	125	-3,148	-247	8,600	-2,984	-4,450	-755	3,831	-1,332	-2,108	-871	792	-381	-482	-876	4,223	-1,636	-1,892	-2,861	623	-1,756	1,516	-313	690	-534	76	1,567
Loss on disposition of assets
-1,446	-1,747	-1,816	-939	-1,383	-1,669	-1,487	-1,432	-1,420	-1,471	-1,151	-1,284	-1,055	-1,616	-813	-1,422	-1,274	-1,417	-1,253	-1,807	-978	-1,526	-1,256	-1,552	-653	-1,153	-688	-1,128	-825	-93	-1,029	-676	-1,007	-848	-559	-432	-539	-730	-406	-489	-141
Impairment and closure costs
624	-1,309	-286	295	17	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,680	0	20	121
Equity loss (income) from investments in unconsolidated affiliates
-500	278	-154	141	113	203	381	445	324	339	359	470	320	280	4	475	352	353	449	467	372	627	410	353	212	142	173	218	180	125	141	121	41	95	71	97	103	73	155	92	108
Distributions of income received from investments in unconsolidated affiliates
184	1,342	149	175	171	135	154	186	181	839	215	208	162	136	767	862	136	88	103	156	155	117	134	152	138	101	90	137	116	93	111	122	103	75	87	94	80	84	87	118	94
Provision for doubtful accounts
60	-4	1	-15	-4	-25	-1	-18	35	-9	0	0	19	18	-26	44	-9	37	3	3	-47	-3	4	-3	8	1	-17	97	5	3	-2	5	11	5	251	-42	-31	-	-	-	-
Share-based compensation expense
7,247	10,484	8,143	7,741	9,132	9,163	8,964	8,381	7,475	8,108	6,461	6,147	6,218	7,720	6,644	5,915	5,788	7,176	5,434	5,311	4,904	3,946	3,538	3,778	3,621	4,157	3,612	3,459	3,512	3,439	3,430	3,271	3,053	2,374	2,418	2,773	2,960	1,981	1,969	1,906	1,830
Changes in operating working capital:
Receivables
-74,504	64,776	-5,108	3,539	-57,433	57,273	2,652	6,073	-50,401	51,508	-4,315	8,289	-35,103	34,106	912	1,950	-26,235	22,501	3,078	-1,121	-13,063	18,558	-978	-502	-8,444	13,876	-576	1,123	-5,360	6,511	194	1,104	-2,856	3,337	88	156	-442	1,001	-1,026	-146	231
Inventories
54	3,043	-709	386	-1,306	2,465	-689	559	160	853	14	570	-1,389	1,731	-86	48	-1,238	1,870	-311	1,429	-1,611	2,239	233	445	-639	1,004	-220	744	-471	1,328	-420	119	-908	2,052	-211	330	-638	1,648	-53	291	-693
Prepaid expenses
1,249	4,457	-1,193	-3,516	2,301	3,338	555	-3,122	2,252	2,900	-709	-2,148	1,168	2,840	-558	-3,511	2,084	2,822	-343	-2,784	1,048	2,427	-514	-2,431	795	3,649	-19	-2,614	2,050	2,159	-304	-2,300	591	2,511	-576	-1,787	-307	2,635	-926	-2,345	2,229
Other assets
-7,573	3,526	1,644	2,914	4,739	-2,292	1,982	1,830	2,770	1,672	1,683	1,978	2,068	1,226	1,088	1,308	607	757	-334	893	960	340	625	1,054	-788	1,519	1,797	455	949	907	822	284	760	40	575	1,573	1,309	298	459	596	-295
Accounts payable
-22,214	6,261	-5,555	-3,129	2,830	7,964	979	-3,231	3,170	4,763	-2,418	-3,803	3,059	9,490	-4,647	-1,697	-3,008	9,726	-3,369	734	520	8,865	-2,690	-1,194	385	6,036	-2,184	-900	2,760	6,835	-1,989	-3,124	14	4,513	-2,285	-36	1,593	2,267	-412	-2,319	-554
Deferred revenue-gift cards
-56,997	102,033	-12,357	-9,056	-63,629	104,199	-9,598	-7,106	-51,976	85,980	-8,132	-7,310	-43,860	74,430	-6,647	-5,771	-33,728	58,965	-4,843	-4,764	-27,546	46,673	-3,665	-3,859	-22,489	37,225	-3,103	-4,067	-20,500	34,566	-2,951	-3,931	-18,842	28,208	-2,576	-3,903	-16,836	24,554	-2,412	-2,986	-14,434
Accrued wages
-14,087	3,988	-181	-1,398	3,131	1,214	201	-1,445	4,511	98	458	-1,683	4,766	-1,723	1,618	-1,874	-8,215	2,206	-918	491	4,079	-173	-526	-720	2,800	2,645	-786	-70	2,175	560	-1,010	-1,308	3,087	994	150	-554	2,061	386	-1,535	-341	2,354
Excess tax benefits from share-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	593	505	869	1,324	287	1,216	822	2,215	649	471	537	1,228	1,874	915	980	1,118	446	645	2,219	295	261	1,605	153	236	833	231	596	1,499
Prepaid income taxes and income taxes payable
-2,414	-9,046	2,448	-4,048	16,200	-8,816	1,215	-6,051	5,071	-6,087	2,281	-7,555	14,809	-7,460	-1,181	-2,053	12,994	-7,488	3,893	-5,105	11,694	-1,986	-1,233	-3,449	11,796	2,988	-1,583	-3,489	10,015	-8,388	963	-2,606	10,837	-1,522	2,708	-8,649	9,518	-4,188	830	-1,333	1,479
Accrued taxes and licenses
-10,995	3,362	2,821	-609	228	-204	3,603	-2,324	1,559	-1,486	2,577	-685	1,893	-779	1,422	-165	441	-644	1,573	-142	400	-292	1,784	-103	-1,231	2,238	1,437	169	244	-254	1,137	149	-160	-326	630	-71	-170	120	1,246	273	2,100
Other accrued liabilities
-3,023	-2,001	-15,521	9,930	3,819	4,976	346	-1,146	3,393	1,612	-2,347	-10,443	16,326	-2,268	-480	-807	6,881	105	-316	1,447	755	135	1,865	1,069	1,836	4,666	3,450	236	-2,461	-3,064	2,022	-1,579	6,463	1,278	-1,241	4,285	940	704	-305	1,633	-317
Operating lease right-of-use assets and lease liabilities
1,365	1,459	1,568	1,320	1,479	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred rent
-	-	-	-	-	-1,794	-1,762	-1,299	-1,083	-1,880	-1,316	-1,229	-1,613	-1,198	-1,192	-1,150	-1,070	-1,124	-1,318	-1,139	-948	-861	-788	-760	-813	-917	-1,005	-848	-683	-788	-689	-677	-881	-791	-648	-644	-593	-623	-654	-568	-523
Other liabilities
-7,401	4,489	968	3,418	6,200	-1,488	1,602	1,720	1,778	2,955	1,241	2,347	1,611	2,263	96	1,342	1,865	17	56	1,128	1,612	3	1,006	1,071	-999	3,046	-461	611	1,308	1,473	419	337	1,124	896	-370	996	388	914	702	725	644
Net cash provided by operating activities
21,716	132,301	54,981	75,601	111,415	127,289	60,472	58,300	106,807	98,303	59,762	33,971	94,337	97,283	45,714	49,180	64,888	96,433	36,685	37,131	57,692	74,408	35,568	35,948	45,789	75,152	30,087	29,826	38,771	57,052	31,456	21,644	37,894	55,410	24,658	24,215	32,136	45,754	25,974	25,644	22,684
Cash flows from investing activities:
Capital expenditures-property and equipment
46,672	69,423	57,135	45,738	42,044	45,074	44,188	31,411	35,307	44,591	43,400	37,574	36,063	51,519	44,060	34,980	34,179	48,375	54,167	37,496	33,437	35,800	35,674	30,884	23,087	40,567	35,752	20,204	14,955	23,839	20,599	19,708	22,839	27,824	22,746	16,635	12,458	13,453	13,631	10,145	7,822
Acquisition of franchise restaurants, net of cash acquired
-	-	-	-	-	-	-	-	-	0	0	0	16,528	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale leaseback transaction
2,167	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	263	0	9	-	-	-	-	62	-43	-128	132	873	149	8	98	17	96	26	49	60	124	30	21
Net cash used in investing activities
-44,505	-70,254	-56,784	-45,738	-42,044	-47,239	-44,188	-31,411	-35,307	-44,591	-43,400	-37,574	-52,591	-51,519	-44,060	-34,980	-34,179	-48,375	-53,904	-37,496	-33,428	-35,792	-35,670	-29,691	-23,087	-40,298	-35,795	-20,332	-14,823	-27,263	-20,450	-19,700	-22,741	-27,807	-22,650	-16,609	-12,409	-13,393	-13,507	-10,115	-7,801
Proceeds from revolving credit facility
190,000	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	25,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from noncontrolling interest contribution
-	-	-	-	-	-	-	-	-	0	0	0	3,457	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	773	0	512	-	-	-	-	-	-	-	-
Distributions to noncontrolling interest holders
1,847	1,472	1,539	1,731	1,615	1,265	1,279	1,695	1,507	1,129	1,294	1,724	1,024	941	1,051	1,314	1,173	719	897	1,123	1,172	792	878	1,042	1,144	657	653	858	948	529	660	760	763	514	535	610	611	538	515	598	561
Acquisition of noncontrolling interest
-	0	0	0	743	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefits from share-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	593	505	869	1,324	287	1,216	822	2,215	649	471	537	1,228	1,874	915	980	1,118	446	645	2,219	295	261	1,605	153	236	833	231	596	1,499
Proceeds from restricted stock and other deposits, net
304	-114	-164	67	273	404	-218	115	117	302	2	164	272	136	-2	45	240	353	220	483	366	1,465	124	-145	-361	570	63	129	-169	-	-	-	21	820	25	-36	-315	-548	324	399	224
Indirect repurchase of shares for minimum tax withholdings
5,331	1,545	1,657	1,869	7,400	2,255	1,765	1,795	8,252	1,542	1,471	1,638	6,988	1,385	1,590	1,630	4,707	1,148	1,534	1,488	4,402	1,205	870	1,146	3,622	1,481	1,280	1,186	3,011	742	824	679	1,488	591	645	707	1,539	-	-	-	-
Principal payments on long-term debt and finance lease obligation
-	-	-	-	-	-7	3	50,002	2	3	474	41	40	39	35	36	35	-	-	-	-	31	20	289	71	71	133	83	82	79	77	74	73	72	69	67	67	64	62	60	60
Principal payments on long-term debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	30	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of stock option and other deposits
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	158	136	400
Settlement of restricted stock units, net of tax
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,148
Proceeds from exercise of stock options
-	-	-	-	-	-	-	-	-	73	194	728	563	501	306	537	1,329	505	1,500	1,099	1,592	2,074	1,290	654	1,262	2,140	2,450	4,565	5,986	405	1,916	3,746	4,603	525	841	1,237	2,413	4,806	408	1,366	4,448
(Repayments of) proceeds from revolving credit facility
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	10,000	-	-	-	-	10,000	17,000	10,000	12,000
Repurchase of shares of common stock
12,600	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	4,110	-	-	-	-	2,778	8,206	7,588	24,172	-	-	-	-	-	-	-	-	12,702	21,176	0	25,269	-	-	-	-
Dividends paid to shareholders
24,989	41,691	21,223	21,548	17,904	17,884	17,868	17,853	14,945	14,931	14,915	14,890	13,418	13,398	13,379	13,358	11,919	11,929	0	23,804	10,443	-	-	-	-	16,938	8,427	8,377	13,135	6,352	6,328	6,271	5,535	-	-	-	-	-	-	-	-
Net cash provided by (used in) financing activities
145,516	-53,708	-43,496	-137,131	-27,389	-21,115	-19,447	-70,365	-24,589	-17,230	-18,434	-17,401	-17,178	-14,533	-15,246	-14,887	5,949	-61,340	18,870	-27,182	-11,874	-11,801	-18,052	-19,492	-26,880	-27,324	-7,065	-4,830	-10,241	-36,138	-4,469	-1,888	-12,428	-8,538	-25,711	-5,650	-24,522	-5,423	-17,277	-9,037	-7,998
Net increase in cash and cash equivalents
122,727	8,339	-45,299	-107,268	41,982	58,935	-3,163	-43,476	46,911	36,482	-2,072	-21,004	24,568	31,231	-13,592	-687	36,658	-13,282	1,651	-27,547	12,390	26,815	-18,154	-13,235	-4,178	7,530	-12,773	4,664	13,707	-6,349	6,537	56	2,725	19,065	-23,703	1,956	-4,795	26,938	-4,810	6,492	6,885
Supplemental disclosures of cash flow information:
Interest paid, net of amounts capitalized
186	500	-129	203	164	328	83	221	264	268	360	320	268	810	-298	246	253	577	585	579	580	600	574	613	587	597	609	601	593	604	605	613	656	650	638	654	426	593	645	698	692
Income taxes paid (refunded)
51	8,049	5,263	13,115	-5,987	579	5,645	14,259	36	12,930	12,633	21,571	3,067	7,041	12,451	20,287	3,111	8,459	8,229	18,955	3,938	5,683	11,582	15,772	1,305	3,746	9,462	12,553	1,395	11,093	9,452	14,441	1,110	5,733	5,104	13,738	66	8,047	6,184	8,306	6,558
Capital expenditures included in current liabilities
13,545	-1,518	1,667	4,778	10,489	-2,083	-4,853	6,136	8,132	6,686	-640	287	5,823	-408	-521	-1,355	5,065	-218	-1,062	1,900	3,106	-2,975	-666	1,721	3,035	-660	221	110	1,712	-	-	-	-	-	-	-	-	-	-	-	-