Ulta beauty, inc. (ULTA)
CashFlow / TTM
Feb'20Nov'19Aug'19May'19Feb'19Nov'18Aug'18May'18Feb'18Oct'17Jul'17Apr'17Jan'17Oct'16Jul'16Apr'16Jan'16Oct'15Jul'15Apr'15Jan'15Oct'14Jul'14Apr'14Oct'13Jul'13Apr'13Jan'13Oct'12Jul'12Apr'12Jan'12Oct'11Jul'11Apr'11Jan'11Oct'10Jul'10Apr'10
Operating activities
Net income

705,945

697,900

699,319

686,384

658,559

652,058

625,537

591,407

555,234

487,279

470,196

446,007

409,760

377,365

360,873

345,038

320,008

299,449

287,503

274,128

257,135

240,553

226,859

210,976

196,699

189,420

179,507

172,549

154,312

142,929

131,836

120,264

104,073

91,508

80,665

71,030

0

0

0

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

295,599

291,027

286,608

282,493

279,472

272,655

264,946

259,026

252,713

246,991

238,325

224,884

210,295

197,012

185,863

174,969

165,049

154,760

146,130

139,258

131,764

124,766

117,908

111,977

100,973

96,366

92,027

88,233

85,138

82,145

79,406

75,931

72,863

69,743

66,528

64,936

0

0

0

Non-cash lease expense

278,820

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes

-5,503

-34,480

-36,202

-39,127

-34,080

35,354

27,800

25,354

27,095

-37,964

-27,238

-27,153

-26,971

10,506

4,076

5,608

5,809

1,992

10,571

9,591

9,246

9,289

3,658

4,075

3,693

9,219

9,285

8,673

16,653

10,826

11,256

10,827

0

0

0

-

-

-

-

Stock-based compensation expense

25,045

25,436

26,230

26,496

26,636

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash stock compensation charges

-

-

-

-

-

-

-

-

-

0

0

20,809

-

18,671

16,878

16,274

15,594

14,613

14,898

14,202

14,923

15,503

16,067

17,018

15,590

14,568

13,530

13,375

13,103

12,755

11,690

11,605

11,979

12,129

12,228

11,155

0

0

0

Excess tax benefits from stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

9,053

9,890

6,925

8,697

9,497

8,547

9,063

6,331

3,229

3,316

8,102

10,378

19,354

26,256

34,696

47,345

49,115

43,638

33,713

25,899

26,458

19,765

18,652

10,640

0

0

0

Loss on disposal of property and equipment

-5,850

-6,367

-5,601

-3,452

-2,885

-3,150

-5,669

-6,679

-7,518

-8,025

-7,776

-9,965

-9,140

-7,865

-5,773

-3,381

-3,690

-4,170

-3,515

-4,715

-4,468

-3,473

-4,454

-3,199

-4,018

-2,657

-2,396

-1,074

-1,142

-1,369

-1,102

-1,324

-492

274

239

519

0

0

0

Change in operating assets and liabilities
Receivables

20,637

27,981

21,003

27,178

36,387

19,379

36,073

37,338

11,088

17,226

11,595

8,824

23,639

14,769

10,721

10,554

12,552

1,540

3,167

16,836

5,391

2,488

11,112

-3,203

10,262

-1,281

7,597

15,362

15,569

12,340

-6,622

3,861

694

8,521

20,899

8,815

0

0

0

Merchandise inventories

79,372

136,469

100,428

117,335

122,019

134,851

74,983

88,385

152,449

212,691

214,497

204,941

182,182

252,616

224,545

180,554

180,564

174,740

164,152

131,509

123,296

127,364

80,352

89,342

119,470

144,422

110,020

116,478

107,942

57,982

76,518

26,131

53,332

34,423

27,465

11,568

0

0

0

Prepaid expenses and other current assets

-9,289

25,334

52,813

65,903

39,450

16,866

5,403

6,650

10,045

15,792

15,495

18,319

16,073

15,144

15,644

9,836

6,000

9,560

8,217

8,334

10,555

6,150

6,867

5,285

7,426

8,513

10,870

9,888

9,974

12,231

7,035

10,640

6,857

3,125

3,933

2,518

0

0

0

Income taxes

610

-18,180

-21,687

-35,571

-29,609

-17,828

-7,958

-2,516

3,641

2,601

-2,770

10,215

5,322

5,008

6,822

23,982

2,795

1,497

-2,710

13,274

7,284

9,962

19,103

17,574

31,042

37,835

49,664

53,397

36,203

30,465

43,710

40,585

32,734

27,999

8,150

-10,354

0

0

0

Accounts payable

9,993

20,514

40,266

34,679

78,256

127,184

96,366

53,312

66,240

22,222

28,245

53,074

63,344

133,802

69,518

56,769

5,396

54,940

52,261

25,361

42,496

46,136

32,721

35,660

5,016

41,857

36,599

32,444

51,134

7,501

30,379

-651

13,798

20,064

20,817

30,706

0

0

0

Accrued liabilities

28,183

10,223

33,208

-8,946

29,265

30,177

-7,710

71,816

-30,695

41,089

46,599

42,392

71,057

48,746

43,639

32,362

37,926

30,450

25,231

30,819

37,644

27,595

19,182

14,908

3,499

20,128

1,217

13,789

4,558

1,056

11,517

-1,358

1,594

2,410

7,986

14,535

0

0

0

Deferred revenue

38,481

39,855

40,561

101,615

50,684

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating lease liabilities

-256,910

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred rent

-

-

-

-

27,064

31,575

34,785

41,741

41,725

38,810

42,229

42,357

44,402

37,353

29,510

24,766

27,662

30,419

34,583

40,676

32,497

34,678

42,169

44,676

56,952

52,693

48,030

44,540

41,242

33,327

32,614

28,891

26,145

32,846

25,308

20,854

0

0

0

Other assets and liabilities

-54,894

-29,614

-17,294

-2,872

3,309

12,094

9,565

7,989

8,318

-191

-1,272

-4,640

-5,701

-6,010

-4,691

-1,005

-558

-1,512

-1,677

-2,177

-1,606

-1,105

-745

-322

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by operating activities

1,101,293

971,419

1,015,460

950,542

956,127

992,487

947,376

880,885

779,366

640,460

634,748

643,198

634,385

549,919

469,808

474,513

375,874

399,415

389,060

391,191

396,592

373,742

376,433

358,583

261,676

287,289

269,290

239,001

220,885

196,182

228,996

220,887

183,510

197,355

171,163

176,543

0

0

0

Investing activities
Purchases of short-term investments

110,000

245,000

73,030

344,000

386,193

476,193

648,163

447,193

330,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from short-term investments

-

-

-

-

506,193

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Capital expenditures

298,534

304,121

328,922

316,977

319,400

359,490

389,195

438,219

440,714

429,883

417,062

395,880

373,447

348,461

311,544

296,866

299,167

308,478

292,188

266,583

249,067

221,556

222,092

223,126

221,514

215,269

205,783

188,578

174,971

147,295

133,895

128,636

120,045

117,210

108,957

97,115

0

0

0

Purchases of equity investments

62,946

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-471,480

-349,979

-378,968

-303,227

-215,107

-313,096

-358,195

-525,412

-530,714

-379,883

-487,062

-415,880

-273,447

-308,252

-271,335

-276,657

-278,958

-358,687

-342,251

-416,792

-399,276

-321,556

-322,238

-223,126

-221,514

-215,269

-205,783

-188,578

-174,971

-147,295

-133,895

-128,636

-120,045

-117,210

-108,957

-97,115

0

0

0

Financing activities
Repurchase of common shares

680,979

743,639

734,042

590,542

616,194

437,237

449,948

449,035

367,581

357,048

269,910

169,206

344,275

343,118

346,093

366,106

167,396

0

0

0

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Stock options exercised

43,780

43,664

47,608

48,665

13,121

14,009

11,459

10,871

16,190

14,954

21,081

21,915

16,293

17,957

12,476

15,701

19,646

18,314

21,690

17,795

10,639

10,202

16,393

19,472

27,644

28,023

28,636

31,530

31,835

28,100

23,956

27,639

32,383

26,719

27,283

17,100

0

0

0

Purchase of treasury shares

9,540

9,566

9,767

10,493

6,141

5,974

5,862

6,565

4,243

4,305

4,449

3,406

2,839

2,840

2,911

2,901

1,972

1,874

1,730

1,348

1,588

1,588

1,842

1,812

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefits from stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

9,053

9,890

6,925

8,697

9,497

8,547

9,063

6,331

3,229

3,316

8,102

10,378

19,354

26,256

34,696

47,345

49,115

43,638

33,713

25,899

26,458

19,765

18,652

10,640

0

0

0

Net cash used in financing activities

-646,739

-709,541

-696,201

-552,370

-609,214

-429,234

-444,934

-445,312

-356,217

-346,898

-248,910

-144,847

-321,768

-318,111

-329,603

-344,609

-140,225

-126,236

-84,653

-45,101

-27,643

1,958

22,653

28,038

9,030

16,789

-36,638

16,314

15,153

5,969

54,433

50,302

58,841

46,484

45,935

27,740

0

0

0

Net increase (decrease) in cash and cash equivalents

-16,926

-88,101

-59,709

94,945

131,806

250,157

144,247

-89,839

-107,565

-86,321

-101,224

82,471

39,170

-76,444

-131,130

-146,753

-43,309

-85,508

-37,844

-70,702

-30,327

54,144

76,848

163,495

49,192

88,809

26,869

66,737

61,067

54,856

149,534

142,553

122,306

126,629

108,141

107,168

0

0

0

Supplemental information
Income taxes paid, net of refunds

133,861

154,501

170,979

192,579

195,869

216,843

231,039

245,794

254,619

249,906

237,923

212,802

212,514

208,314

200,896

172,757

179,248

171,694

162,762

140,665

137,180

127,548

116,041

107,762

85,340

68,863

51,486

45,354

42,372

48,105

27,680

24,162

27,456

25,161

38,347

49,871

0

0

0

Change in property and equipment included in accrued liabilities

26,901

13,932

16,918

30,095

28,746

40,780

37,427

36,248

43,471

-4,223

4,277

-11,313

2,446

14,116

7,786

7,654

13

7,792

2,471

18,124

8,588

3,450

5,603

-3,413

6,444

4,248

3,131

6,803

4,680

5,706

-630

-495

-4,286

2,502

3,713

2,540

0

0

0