Winnebago industries, inc. (WGO)
CashFlow / TTM
Feb'20Nov'19Aug'19May'19Feb'19Nov'18Aug'18May'18Feb'18Nov'17Aug'17May'17Feb'17Nov'16Aug'16May'16Feb'16Nov'15Aug'15May'15Feb'15Nov'14Aug'14May'14Feb'14Nov'13Aug'13May'13Feb'13Nov'12Aug'12May'12Feb'12Nov'11Aug'11May'11Feb'11Nov'10
Operating activities:
Net income

99,375

103,705

111,798

109,720

106,070

106,560

102,357

97,490

84,360

77,550

71,330

59,553

54,600

48,676

45,496

44,067

41,131

39,873

41,210

42,422

42,305

43,802

45,053

42,740

39,016

35,708

31,953

62,245

58,525

51,328

44,972

7,611

4,865

9,092

11,843

0

0

0

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

15,082

14,082

13,682

12,958

11,821

10,919

9,849

8,707

8,215

7,865

7,315

6,789

6,410

5,955

5,745

5,472

5,151

4,822

4,513

4,319

4,156

4,074

3,997

4,536

4,552

4,601

4,764

4,276

4,460

4,708

4,872

5,085

5,237

5,373

5,492

0

0

0

Amortization of intangible assets

16,297

10,590

9,635

10,611

10,266

9,932

9,328

8,003

16,230

24,664

24,660

22,578

12,418

2,051

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash interest expense, net

0

0

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of debt issuance costs

2,279

1,978

1,612

2,170

2,170

2,163

2,206

1,929

1,937

1,955

1,596

889

485

78

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Last-in, first-out expense

1,893

1,993

2,258

3,650

3,775

3,642

3,344

2,063

1,722

1,722

1,722

770

1,163

1,542

1,153

1,483

1,206

774

1,244

1,563

1,474

1,405

1,456

-684

-1,123

-1,101

-1,180

-1,019

-591

-589

-613

1,726

1,821

2,039

2,075

0

0

0

Stock-based compensation

6,058

6,158

7,058

8,186

8,481

9,111

7,434

5,754

4,991

2,979

2,977

3,681

3,566

3,491

3,293

3,176

3,015

2,819

3,097

3,431

3,346

3,335

3,386

3,445

3,401

3,274

3,009

2,313

2,165

2,428

1,918

1,177

1,940

1,412

1,315

0

0

0

Deferred income taxes

8,214

8,333

7,984

1,339

4,050

4,501

5,784

6,771

3,583

11,638

8,360

5,912

8,271

238

2,233

139

-6,093

1,044

215

2,281

7,231

-861

-48

3,497

3,188

2,196

1,790

-35,239

-35,979

-34,112

-34,749

-1,110

-386

-451

517

0

0

0

Deferred compensation expense and postretirement income

-

-

-

-

-

-

-

-

-

-

-23,379

-24,926

-26,411

-15,986

-4,292

-3,309

-2,420

-1,466

-843

-814

-912

-994

-979

-766

-444

-115

245

319

406

497

570

854

1,136

1,327

1,378

0

0

0

Other, net

679

892

257

76

-1,245

-1,662

-995

-117

-725

-889

-1,257

-1,201

-885

-911

-935

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

579

343

77

90

0

0

0

Provision (benefit) for doubtful accounts

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-20

-16

-23

-19

-36

18

22

25

159

111

118

125

34

41

4

11

0

0

0

Loss (gain) on disposal of property

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1

24

716

691

773

771

84

95

26

19

-19

-28

107

265

295

994

0

0

0

Gain on life insurance

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

27

536

784

843

843

529

281

195

567

372

0

0

0

Increase in cash surrender value of life insurance policies

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

811

827

706

805

828

923

933

1,030

1,062

1,058

859

732

875

890

901

969

0

0

0

Change in assets and liabilities:
Receivables

-33,507

-10,576

-6,418

34,105

20,077

21,666

37,739

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Inventories

-32,531

-8,756

8,256

7,377

5,562

33,538

46,429

35,019

31,312

-1,937

6,165

-244

150

5,324

11,510

9,044

-14,466

-13,615

561

6,403

27,026

29,680

1,763

4,100

-778

15,014

24,267

42,328

63,170

40,584

17,316

-5,016

-9,651

18,134

23,792

0

0

0

Prepaid expenses and other assets

3,654

4,651

4,499

1,620

4,494

-3,357

-2,353

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable

-6,397

-2,508

907

-6,941

-9,828

366

-1,278

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Receivables, prepaid and other assets

-

-

-

-

-

-

-

-

-

-

-

0

0

-9,931

-

-782

-1,030

-2,983

-2,458

8,303

5,737

17,464

38,233

24,438

42,630

18,729

8,908

14,797

9,641

10,717

2,085

615

-2,691

-2,380

-101

0

0

0

Investment in operating leases, net of repurchase obligations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

72

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income taxes and unrecognized tax benefits

440

-8,150

-13,810

-4,878

-2,767

-951

7,939

158

7,166

5,292

7,045

6,657

-3,090

7,031

85

2,017

10,210

-132

408

1,264

-6,902

2,835

5,625

2,026

-543

1,195

-194

-332

1,873

2,707

7

-1,275

-2,985

-2,606

-2,127

0

0

0

Accrued expenses and other liabilities

-10,653

4,751

-2,350

10,193

16,405

14,183

17,992

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable and accrued expenses

-

-

-

-

-

-

-

-

-

-

-

0

0

7,651

-

18,773

7,460

-2,623

-1,880

-4,240

6,308

14,962

10,919

7,895

6,423

1,743

8,939

12,572

10,886

18,745

7,627

1,876

-2,084

-6,713

-1,551

0

0

0

Postretirement and deferred compensation benefits

-

-

-

-

-

-

-

-

-

-

-

-3,253

-3,450

-3,764

-3,992

-4,277

-4,279

-4,207

-4,159

-3,977

-3,936

-3,960

-4,008

-4,043

-4,110

-4,115

-4,322

-4,336

-4,289

-4,248

-4,030

-4,002

-3,764

-3,774

-3,741

0

0

0

Net cash provided by operating activities

200,976

158,612

133,750

105,183

120,239

108,059

83,346

90,789

107,030

126,735

97,127

88,355

66,700

60,659

52,746

58,367

70,423

56,742

45,183

31,604

18,714

15,509

23,236

27,361

6,850

8,666

10,238

-18,568

-37,425

-11,368

115

15,693

17,761

-11,132

-10,119

0

0

0

Investing activities:
Purchases of property and equipment

36,549

34,711

40,858

42,226

40,359

36,082

28,668

22,376

18,730

15,788

13,993

14,363

15,132

25,004

24,551

22,327

27,776

17,372

16,573

17,645

11,858

11,093

10,476

8,105

5,751

4,842

4,422

4,008

3,488

3,030

2,213

2,046

1,998

1,898

2,109

0

0

0

Acquisition of business, net of cash acquired

264,280

264,280

702

81,902

81,902

81,902

81,200

-2,221

-2,221

-2,362

392,473

394,694

394,694

394,835

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from Sale of Property, Plant, and Equipment

-

-

-

-

-

-

338

320

457

315

223

216

73

13

18

43

32

53

65

63

74

2,439

2,423

2,500

2,512

169

734

638

624

583

17

150

357

374

4,143

0

0

0

Proceeds from the sale of investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,350

9,400

9,400

9,650

7,300

550

550

550

1,050

1,450

1,450

6,450

7,150

0

0

0

Proceeds from life insurance

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

338

-

0

0

0

-

-

-

30

1,004

1,252

1,983

1,983

1,652

1,404

643

1,302

659

0

0

0

Payments of COLI borrowings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

1,371

1,371

1,371

1,371

0

0

0

0

-

-

-

-

Repayments of COLI borrowings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

Other, net

-1,611

-2,408

-2,476

396

1,169

1,863

2,231

-91

-220

100

-858

-1,454

-1,764

-2,262

-1,141

73

306

522

9

-156

1,003

1,262

1,402

993

-566

-846

-822

-626

538

607

624

1,062

388

826

914

0

0

0

Net cash used in investing activities

-299,070

-296,435

-38,936

-124,368

-123,391

-119,601

-111,761

-19,744

-15,832

-13,211

-405,385

-407,387

-408,284

-417,859

-23,392

-22,357

-27,755

-17,546

-16,517

-17,426

-11,050

-8,179

-5,368

4,539

6,757

5,853

4,067

-2,313

-2,240

-1,892

-118

-104

64

708

4,235

0

0

0

Financing activities:
Proceeds from exercise of stock options

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,080

2,155

2,155

2,155

75

0

0

0

-

-

-

-

-

-

-

-

Borrowings on credit agreement

1,785,466

1,361,473

891,892

543,982

420,153

354,844

221,133

19,700

19,700

13,400

366,400

366,400

366,400

353,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of credit agreement

1,808,796

1,361,487

930,424

538,339

416,523

374,580

206,601

56,700

80,000

86,650

82,400

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of convertible senior notes

0

0

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of convertible note hedge

0

0

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of warrants

0

0

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments of offering costs

0

0

-

-

0

0

-

-

-

-

11,020

11,020

11,020

10,758

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments of cash dividends

14,131

13,956

13,670

13,382

13,076

15,921

12,738

12,741

12,743

9,553

12,738

12,272

11,806

11,346

10,891

10,614

10,337

10,053

9,765

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments for repurchase of common stock

-

-

-

-

-

-

6,481

6,644

1,643

1,575

1,530

1,375

1,377

3,679

3,066

3,411

3,432

1,274

6,519

8,182

10,997

26,729

26,340

25,919

25,835

11,102

12,718

17,384

14,736

13,781

6,604

343

235

0

89

0

0

0

Other, net

-871

-113

648

0

0

0

-

-

-

-

-92

-185

-154

-154

-53

53

35

49

53

53

-104

-93

-81

-68

96

90

-68

-144

-164

-183

-17

355

415

475

506

0

0

0

Net cash provided by (used in) financing activities

218,016

238,449

-59,725

-15,668

-21,274

-42,224

-5,188

-56,385

-74,686

-84,640

258,620

272,148

315,643

327,063

-14,010

-13,972

-13,734

-11,278

-16,231

-15,453

-15,984

-29,264

-24,341

-23,832

-23,584

-8,857

-12,711

-17,528

-14,900

-13,964

-6,621

12

188

558

500

0

0

0

Net increase (decrease) in cash and cash equivalents

119,922

100,626

35,089

-34,853

-24,426

-53,766

-33,603

14,660

16,512

28,884

-49,638

-46,884

-25,941

-30,137

15,344

22,038

28,934

27,918

12,435

-1,275

-8,320

-21,934

-6,473

8,068

-9,977

5,662

1,594

-38,409

-54,565

-27,224

-6,624

15,601

18,013

-9,866

-5,384

0

0

0

Supplement cash flow disclosure:
Income taxes paid, net

14,451

27,972

37,061

35,455

37,408

34,892

26,436

34,443

29,019

21,622

21,421

17,123

17,293

15,895

18,449

18,434

17,941

17,126

17,658

14,608

18,426

17,268

14,061

13,368

14,030

11,487

11,500

9,697

5,481

-152

-134

0

0

0

-

-

-

-

Interest paid

17,390

16,378

14,921

14,965

15,128

15,753

16,565

16,540

19,068

16,441

11,893

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash transactions:
Issuance of Winnebago common stock for acquisition of business

0

0

-

-

0

0

-

-

-

-

124,066

124,066

124,066

124,066

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Capital expenditures in accounts payable

246

2,305

387

100

-55

464

698

1,349

1,711

705

1,021

785

475

772

903

397

750

826

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income taxes paid, net of refunds

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0