WINMARK CORP WINA Cash Flow

Winmark corp (WINA)

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
OPERATING ACTIVITIES:
Net Income
7,317	8,461	9,113	7,301	7,272	7,657	8,364	7,143	6,960	7,638	5,860	5,530	5,550	6,097	6,094	5,394	4,562	5,654	5,339	4,751	6,054	5,610	5,623	4,280	4,551	4,585	5,251	4,336	4,057	1,758	4,259	3,404	3,516	4,185	3,483	3,400	3,026
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
123	123	110	85	80	80	78	79	75	79	87	90	98	99	103	108	109	109	108	106	107	107	102	97	105	110	109	105	107	106	107	104	114	117	118	122	120
Provision for credit losses
615	-102	-55	69	10	-109	-55	109	95	35	-13	-11	-1	70	-29	-7	-14	-26	38	-93	-69	36	-1	-11	38	23	-29	-51	13	22	-1	-14	-53	-51	-13	-24	45
Compensation expense related to stock options
140	155	495	516	498	468	500	516	490	494	495	489	477	452	442	432	449	439	434	415	405	380	367	325	344	310	293	287	261	247	245	232	205	202	201	180	170
Deferred income taxes
11	-494	-1,360	39	0	-	-	-	-	-	-	-	-	-	-	-	-	-5,472	1,271	1,031	1,027	-	-	-	-	-	-	-	-	-110	60	0	-275	-	-	-	-
Gain on sale of marketable securities
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-6	-6	0	0	0	-22	-4	12	-8	9	-	-	-	-	-13	4	0	30	58	0	0	-0
Loss from equity investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,143	-372	-240	-37	-71	-224	-142	-77
Deferred initial direct costs
8	5	39	33	14	169	115	103	979	47	119	137	112	114	95	145	180	83	53	124	154	93	58	1,218	-520	818	-54	-146	-172	-243	-69	-262	-152	-68	-89	-127	-52
Amortization of deferred initial direct costs
37	57	123	159	209	239	247	262	299	102	107	112	125	114	122	134	100	95	95	136	259	178	200	212	163	121	134	143	140	152	148	170	102	98	105	185	150
Operating lease right of use asset amortization
192	60	77	105	102	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Tax benefits on exercised stock options
87	638	274	293	12	-	-	-	-	289	74	421	96	529	60	0	9	9	0	0	16	16	0	14	60	-	-	-	-	531	25	0	327	111	0	67	69
Change in operating assets and liabilities:
Receivables
-689	75	84	54	-97	-203	254	-90	-203	87	75	118	34	-76	166	43	-71	102	72	52	-139	221	18	40	-157	88	-113	19	-26	72	122	-240	-33	-14	-105	294	-492
Principal collections on lease receivables
4,988	5,014	4,863	4,880	4,662	7,948	5,465	4,957	5,881	5,265	6,095	6,693	7,289	5,256	5,275	7,131	5,343	4,555	5,440	7,439	9,166	5,204	6,068	5,179	4,272	4,101	5,153	3,970	4,530	4,084	4,236	4,020	4,545	5,020	4,161	6,502	4,405
Restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	10	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income tax receivable/payable
2,046	-744	941	-3,566	2,218	-1,574	493	80	2,192	-740	-454	-3,206	3,031	-908	-2	-2,386	4,894	-2,452	544	-2,884	5,662	-4,177	798	-2,569	2,061	299	542	-1,352	2,158	-440	771	-1,230	513	-2,325	860	1,299	582
Inventories
19	16	-44	0	6	-20	-21	70	-17	30	-32	-6	18	-8	14	0	35	-14	-1	-15	-17	-	-	-	-	27	-7	4	0	-14	0	15	0	0	17	2	-38
Prepaid expenses
253	-44	159	-101	52	-	309	112	-248	-52	397	-342	-244	123	130	381	-268	500	-175	-51	-62	53	260	-188	-5	-315	229	-33	-22	-128	172	-36	75	-146	184	-84	25
Other assets
3	-8	-8	12	14	42	43	-1	47	-3	24	0	-6	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	17	17	0	-3
Accounts payable
56	-170	17	-550	366	-93	-57	-564	-5	598	65	159	-442	573	128	-1,079	426	434	-347	-907	507	-1,153	1,685	-193	-824	717	465	-569	-375	692	259	-17	-190	-228	-350	-396	1,161
Accrued and other liabilities
-674	-142	242	343	-1,105	-285	101	899	774	-928	67	843	-156	-871	211	67	338	-1,280	636	510	-14	-1,098	260	385	876	-1,125	339	316	311	-1,192	194	514	288	-507	-315	-1,323	1,690
Rents received in advance and security deposits
-885	-47	-205	49	6	17	84	-421	-38	33	86	93	-86	367	189	73	129	364	-15	263	-242	-170	19	54	41	503	147	-43	-265	-142	167	-59	-107	66	-6	56	-76
Deferred revenue
-95	-187	-56	-179	-178	-97	-67	18	12	0	48	-94	-53	225	-119	-150	7	-290	28	-1	158	9	97	-144	146	464	390	24	-92	87	-11	294	167	94	-260	196	216
Net cash provided by operating activities
14,363	12,579	14,353	9,548	14,166	7,318	9,225	8,094	10,298	5,969	5,852	4,662	8,723	6,270	6,840	2,549	10,616	4,162	5,363	1,052	11,747	2,557	7,829	598	6,997	4,611	7,361	2,953	6,723	3,500	6,381	3,758	4,532	5,161	4,151	3,570	7,704
INVESTING ACTIVITIES:
Proceeds from sale of marketable securities
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	35	17	0	0	0	299	259	91	48	463	-	-	-	-	103	111	1	1,311	1,004	0	0	160
Purchase of marketable securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	42	0	33	7	16	88	524	-	-	-	-	116	86	114	265	-	-	-	-
Purchase of property and equipment
31	34	-17	30	122	221	173	128	170	18	9	32	11	21	15	11	19	12	33	34	52	28	85	209	128	230	17	94	53	106	13	44	23	29	25	80	32
Purchase of equipment for lease contracts
1,706	1,072	2,258	3,961	1,717	2,885	7,324	6,698	6,196	6,149	5,721	6,019	7,512	9,778	5,846	5,851	4,734	3,675	7,099	3,544	7,873	6,153	6,238	8,656	6,499	5,747	4,784	5,521	4,673	6,420	6,458	6,575	4,338	4,799	4,630	6,227	4,720
Net cash provided by (used for) investing activities
-1,737	-1,106	-2,240	-3,991	-1,840	4,842	-2,033	-1,869	-486	-903	582	641	-235	-4,543	-586	1,303	606	867	-1,734	3,860	1,506	-725	-180	-3,726	-2,417	-2,178	27	-1,645	-196	-2,456	-2,210	-2,712	1,229	-315	-937	-813	-186
FINANCING ACTIVITIES:
Proceeds from borrowings on line of credit
45,700	0	0	4,800	14,000	-	-	-	-	5,000	40,100	4,900	1,900	8,200	4,100	6,000	500	5,800	4,900	51,000	600	5,500	2,000	12,400	14,000	-	-	-	-	4,800	2,700	3,000	14,600	-	-	-	-
Payments on line of credit
5,700	0	6,000	10,300	2,500	10,100	11,600	10,200	10,800	11,500	8,300	11,000	9,100	10,000	9,400	9,000	9,400	9,600	7,800	7,500	13,500	-	-	-	-	0	2,000	4,500	6,300	4,700	4,800	2,300	2,500	0	1,500	5,000	5,300
Payments on notes payable
812	812	812	812	812	812	812	812	812	812	500	500	500	500	500	500	500	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repurchases of common stock
48,987	0	0	0	24,028	-	-	-	-	-	-	-	-	0	0	96	1,477	-	-	-	-	0	4,378	6,111	1,075	0	1,083	501	269	-	-	-	-	0	213	814	2,499
Proceeds from exercises of stock options
145	7,923	2,049	788	156	648	1,325	798	48	980	132	1,108	88	1,135	20	0	150	114	0	158	0	26	0	164	227	115	2,017	982	120	835	191	0	403	315	9	307	421
Dividends paid
912	965	954	942	586	585	583	577	423	421	463	463	416	414	412	411	288	289	289	350	299	299	300	306	26,023	256	257	250	200	199	200	202	25,519	149	149	149	99
Proceeds from discounted lease rentals
1,157	-	-	-	-	1,311	1,640	0	2,916	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	92	548	80	-	-	-	-	-	-	-	-
Tax benefits on exercised stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	16	16	0	14	60	-	-	-	-	531	25	0	327	111	0	67	69
Net cash used for financing activities
-9,409	6,145	-5,717	-5,522	-13,770	-10,827	-7,288	-6,792	-9,070	-5,003	-6,435	-5,955	-8,027	-1,579	-6,191	-4,007	-11,016	-5,083	-3,689	-5,952	-13,183	-1,757	-7,778	2,860	-12,810	-38	-1,181	-1,458	-6,568	-1,059	-3,959	-1,101	-12,688	277	-353	-4,088	-7,408
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH
3,216	17,618	6,396	34	-1,444	1,333	-95	-567	742	62	-1	-651	460	147	62	-154	206	-54	-60	-1,039	70	74	-129	-267	-8,230	2,394	6,206	-150	-41	-15	211	-56	-6,926	5,123	2,860	-1,331	110
SUPPLEMENTAL DISCLOSURES:
Cash paid for interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	838	304	635	662	672	54	103	120	148	122	29	22	21	88	84	74	104	141	19	19	11	40	90
Cash paid for income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,666	5,730	-2,079	4,590	4,028	6,889	-860	4,741	3,587	7,137	762	3,347	2,477	3,950	359	2,965	2,301	3,543	1,481	1,118	1,755	981	1,348