Wageworks, inc. (WAGE)
CashFlow / TTM
Jun'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 (Loss) Attributable to Parent

9,881

19,008

25,970

33,056

39,995

49,349

54,387

50,394

46,561

26,163

15,902

17,101

19,469

23,107

22,950

19,853

16,368

17,437

18,242

20,464

24,102

23,507

21,699

19,121

13,893

13,125

10,499

0

0

0

Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation and amortization

0

0

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation

-

-

-

-

-

-

11,384

10,519

10,026

9,486

8,696

8,210

7,409

6,895

6,671

6,332

5,918

5,163

4,386

3,658

3,211

3,289

3,421

3,387

3,335

3,173

2,950

0

0

0

Amortization, impairment and change in contingent consideration

-

-

-

-

-

-

37,889

35,749

32,996

39,063

37,175

37,129

37,416

28,687

27,618

26,281

25,034

22,851

20,992

16,528

11,394

11,570

11,612

13,170

16,329

15,698

15,674

0

0

0

Amortization of debt issuance costs

699

634

578

523

535

491

418

342

216

172

159

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of contract costs

2,804

2,789

2,844

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Stock-based compensation expense

9,566

13,699

18,088

22,460

23,718

29,162

25,649

24,991

24,468

24,969

27,180

26,109

24,881

22,161

20,606

19,220

17,529

16,956

14,558

12,742

11,926

10,171

9,206

7,371

5,634

4,264

3,750

0

0

0

Provision for doubtful accounts

1,446

1,429

1,034

1,484

797

231

558

94

7

492

947

1,119

949

1,153

396

294

221

-417

-367

-376

-147

239

180

266

-289

-296

-261

0

0

0

Revaluation of warrants

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-381

0

0

0

Loss on disposal of fixed assets

-

-

-

-

-

-

-123

-186

-165

-325

-273

-762

-1,268

-1,112

-1,096

0

0

0

-

-

-

-

-128

-244

-236

-225

-178

0

0

0

Deferred taxes

-

-

-

-

-

-

-9,336

4,837

5,260

5,260

5,853

-7,325

-11,262

-13,351

-13,066

-7,632

-6,098

-7,013

-10,582

0

0

0

-

-

-

-8,089

-6,688

0

0

0

Other

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefit related to stock-based compensation arrangements

-

-

-

-

-

-

0

8,801

11,607

10,994

14,806

11,943

10,142

11,491

11,198

7,987

8,260

9,739

10,433

12,918

13,816

13,998

12,296

0

0

0

-

-

-

-

Changes in operating assets and liabilities:
Receivables

3,941

-10,361

-5,216

-73,450

-61,889

-28,538

14,692

84,553

62,953

65,893

22,088

14,063

30,821

28,139

18,214

17,914

17,999

10,665

20,969

12,208

5,356

17,130

8,457

9,381

13,063

12,113

5,538

0

0

0

Prepaid expenses and other current assets

6,449

7,151

-5,609

-4,414

-9,523

8,768

9,514

-10,053

2,323

-14,051

-7,901

549

-2,111

-2,456

-961

-2,001

5,019

5,792

2,743

7,126

2,492

1,096

3,954

2,362

2,330

5,431

2,659

0

0

0

Other assets

4,539

10,918

18,558

21,783

18,063

14,503

3,145

2,358

62

-2,213

699

191

-199

-1,989

-2,084

-1,956

-1,498

301

2,877

3,095

2,712

2,659

179

-163

-47

50

160

0

0

0

Accounts payable and accrued expenses

-994

7,035

8,276

5,406

-12,160

-15,363

17,387

19,578

33,772

27,336

9,488

3,552

-58

16,243

5,062

9,157

18,604

5,583

2,684

4,010

-1,046

3,047

7,840

5,335

6,828

3,045

5,075

0

0

0

Customer obligations

37,390

835

66,732

-22,942

71,575

108,597

86,988

139,495

99,776

76,391

207,559

157,564

56,990

74,889

38,370

47,946

67,144

50,472

19,480

36,869

7,160

22,669

26,339

31,527

39,732

30,519

23,680

0

0

0

Other liabilities

10,217

4,288

1,178

3,643

-133

17,005

1,278

1,514

545

-2,403

-2,892

-2,019

-386

2,823

4,792

5,933

5,413

4,585

790

-778

-835

-3,347

-2,240

-934

-978

1,374

1,900

0

0

0

Net cash (used in) provided by operating activities

120,904

105,341

178,655

164,560

239,667

254,726

217,809

192,267

166,327

136,111

268,942

230,217

120,615

155,270

114,260

121,307

132,660

103,248

54,423

69,019

41,771

45,602

61,705

66,206

70,190

53,442

56,133

0

0

0

Cash flows from investing activities:
Purchases of property and equipment

23,395

30,270

33,535

35,956

39,087

38,829

36,787

36,279

35,423

30,562

28,319

24,470

27,313

25,502

28,141

33,772

25,391

23,939

21,200

14,669

13,478

13,454

13,832

13,448

13,309

12,910

12,291

0

0

0

Purchases of short-term investments

45,779

63,074

157,672

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sales of short-term investments

18,269

18,609

16,049

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from maturities of short-term investments

125,105

122,255

114,910

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash consideration for business acquisitions, net of cash acquired

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-8,953

0

0

0

Cash paid for acquisition of intangible assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,573

0

0

0

-

-

-

-

Change in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-3,248

-3,081

-4,464

-4,927

-1,790

0

0

0

Purchases of intangible assets

60

199

209

2,760

4,470

4,331

4,658

2,450

7,258

13,888

21,120

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) investing activities

74,140

47,321

-60,457

-199,049

-301,377

-304,332

-237,203

-366,741

-276,646

-278,415

-283,404

-45,629

-51,399

-42,958

-37,968

-43,237

-69,725

-68,274

-65,535

-58,985

-28,480

-29,481

-27,555

-32,230

-16,419

-14,532

-7,554

0

0

0

Cash flows from financing activities:
Proceeds from long-term debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

29,470

0

0

0

Proceeds from public stock offering

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

11,550

0

0

0

-

-

0

0

Proceeds from exercise of common stock options

315

-1

1,395

4,828

5,661

11,592

14,267

16,199

16,407

15,444

16,070

12,608

13,451

8,929

6,598

6,669

5,715

6,571

6,700

6,261

10,953

12,888

15,981

0

0

0

-

-

-

-

Proceeds from issuance of common stock under Employee Stock Purchase Plan

0

0

869

1,378

2,039

2,781

2,681

2,694

2,513

2,452

2,194

2,024

1,959

2,058

2,145

2,117

2,115

1,996

2,100

2,126

2,048

2,039

1,817

0

0

0

-

-

-

-

Payments of Debt Issuance Costs

450

900

800

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments of debt principal

100,000

60,000

0

0

0

0

2,500

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of contingent consideration

-

-

-

-

-

-

0

0

0

97

750

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment for treasury stock acquired

-

-

-

-

-

-

7,935

7,935

0

0

9,371

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of finance lease obligations

244

272

299

311

307

303

302

329

349

455

381

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Taxes paid related to net share settlement of stock-based compensation arrangements

63

63

281

405

800

4,553

9,019

8,943

8,914

5,241

6,108

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment for share repurchases

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Excess tax benefit related to stock-based compensation arrangements

-

-

-

-

-

-

0

8,801

11,607

10,994

14,806

11,943

10,142

11,491

11,198

7,987

8,260

9,739

10,433

12,918

13,816

13,998

12,296

0

0

0

-

-

-

-

Net cash (used in) provided by financing activities

-100,442

-61,236

884

4,947

-2,229

130,520

126,130

306,861

317,782

190,290

186,153

4,612

3,075

-1,713

11,325

13,570

62,550

63,528

64,455

66,483

1,880

7,296

20,015

36,998

40,612

93,095

102,593

0

0

0

Net decrease in cash and cash equivalents, unrestricted and restricted

94,602

91,426

119,082

-29,542

-63,939

80,914

106,736

132,387

207,463

47,986

171,691

189,200

72,291

110,599

87,617

91,640

125,485

98,502

53,343

76,517

15,171

23,417

54,165

70,974

94,383

132,005

151,172

0

0

0

Supplemental cash flow disclosure:
Cash paid during the period for:
Interest

9,506

9,381

8,859

8,234

7,793

7,161

6,462

5,346

3,885

2,729

1,825

1,614

1,572

1,847

2,542

2,079

2,140

1,475

866

1,266

1,066

1,104

1,533

1,218

1,541

1,816

1,094

0

0

0

Income taxes

4,247

2,567

2,412

1,997

2,194

2,900

2,958

3,258

4,643

4,150

5,534

4,849

3,762

1,693

455

962

1,081

1,128

836

853

310

685

714

565

583

280

583

0

0

0

Noncash financing and investing activities:
Property and equipment, accrued but not paid

3,645

1,671

4,472

446

3,571

5,865

2,325

3,262

3,691

-3,636

2,412

3,311

1,035

7,005

800

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Accretion of redemption premium

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,301

0

0

0

Reduction in FBM contingent consideration due to re-negotiated lease

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

528

0

0

0