WINMARK CORP WINA Cash Flow

Winmark corp (WINA)

CashFlow / TTM

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
32,194	32,149	31,345	30,596	30,437	30,125	30,106	27,602	25,990	24,580	23,039	23,272	23,136	22,148	21,705	20,951	20,308	21,799	21,756	22,039	21,568	20,066	19,041	18,669	18,726	18,231	15,403	14,411	13,479	12,937	15,364	14,588	14,584	14,095	0	0	0
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
443	400	357	325	318	314	313	321	332	355	375	391	409	420	430	435	434	432	430	423	414	412	414	421	429	431	428	425	425	433	444	455	473	479	0	0	0
Provision for credit losses
527	-78	-85	-86	-46	38	183	225	105	9	44	27	31	18	-78	-9	-95	-149	-86	-127	-45	62	49	21	-19	-44	-45	-17	19	-47	-121	-132	-141	-43	0	0	0
Compensation expense related to stock options
1,307	1,666	1,979	1,984	1,984	1,976	2,001	1,996	1,970	1,956	1,914	1,861	1,803	1,776	1,764	1,756	1,739	1,694	1,635	1,567	1,478	1,417	1,347	1,274	1,236	1,153	1,090	1,041	986	930	885	842	790	755	0	0	0
Deferred income taxes
-1,804	-1,815	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-2,142	0	0	0	-	-	-	-	-	-	-	-	-324	0	0	0	-	-	-	-
Gain on sale of marketable securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-12	-12	-12	-6	-22	-26	-14	-23	8	0	0	0	-	-	-	-	21	93	88	88	58	0	0	0
Loss from equity investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,492	-721	-574	-476	-515	0	0	0
Deferred initial direct costs
86	92	256	332	402	1,367	1,245	1,249	1,283	416	483	459	467	535	505	462	442	416	426	431	1,525	850	1,575	1,462	97	444	-618	-633	-748	-728	-552	-572	-437	-337	0	0	0
Amortization of deferred initial direct costs
377	550	731	855	958	1,048	911	771	621	447	460	475	496	471	451	425	427	587	670	774	850	754	697	631	562	539	570	584	612	574	520	476	491	539	0	0	0
Operating lease right of use asset amortization
435	345	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Tax benefits on exercised stock options
1,293	1,218	0	0	0	-	-	-	-	882	1,122	1,107	685	599	79	19	19	26	33	33	47	91	0	0	0	-	-	-	-	884	465	439	507	249	0	0	0
Change in operating assets and liabilities:
Receivables
-475	116	-162	8	-137	-242	48	-130	79	316	152	243	167	62	241	147	156	88	207	153	141	122	-10	-142	-163	-31	-47	188	-71	-79	-165	-394	140	-317	0	0	0
Principal collections on lease receivables
19,747	19,421	22,356	22,957	23,034	24,252	21,569	22,199	23,935	25,343	25,335	24,514	24,952	23,006	22,305	22,470	22,779	26,603	27,252	27,879	25,618	20,724	19,621	18,706	17,498	17,755	17,739	16,821	16,871	16,886	17,822	17,748	20,230	20,090	0	0	0
Restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income tax receivable/payable
-1,322	-1,151	-1,981	-2,429	1,217	1,192	2,026	1,077	-2,209	-1,371	-1,538	-1,086	-265	1,597	53	600	102	870	-853	-599	-284	-3,886	590	333	1,550	1,647	908	1,137	1,259	-386	-2,272	-2,183	346	416	0	0	0
Inventories
-8	-21	-58	-35	34	10	61	50	-26	9	-28	18	25	42	36	20	4	-48	0	0	0	-	-	-	-	25	-15	-7	2	2	17	34	21	-17	0	0	0
Prepaid expenses
267	66	0	0	0	-	121	208	-246	-242	-66	-332	391	367	743	437	4	210	-237	199	62	119	-248	-279	-125	-142	45	-12	-14	83	64	77	29	-20	0	0	0
Other assets
-0	9	60	112	98	132	86	67	69	15	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	32	0	0	0
Accounts payable
-646	-336	-259	-335	-349	-721	-29	93	817	381	355	419	-820	48	-89	-565	-392	-312	-1,901	132	846	-485	1,385	164	-211	237	213	6	558	743	-177	-787	-1,166	186	0	0	0
Accrued and other liabilities
-230	-661	-805	-945	-389	1,490	847	812	756	-174	-116	27	-748	-253	-662	-237	205	-147	34	-342	-467	423	397	476	406	-158	-225	-370	-171	-194	490	-19	-1,857	-456	0	0	0
Rents received in advance and security deposits
-1,089	-197	-131	158	-313	-358	-342	-340	174	126	460	563	544	759	756	551	741	370	-163	-129	-339	-55	617	745	648	342	-303	-282	-299	-142	66	-107	9	40	0	0	0
Deferred revenue
-518	-601	-511	-522	-324	-132	-35	80	-32	-98	127	-40	-96	-36	-552	-405	-256	-105	194	264	121	109	564	857	1,025	785	408	7	277	538	545	296	198	247	0	0	0
Net cash provided by operating activities
50,844	50,647	45,386	40,257	38,804	34,937	33,588	30,214	26,782	25,207	25,509	26,496	24,383	26,276	24,168	22,691	21,194	22,325	20,720	23,187	22,733	17,983	20,036	19,568	21,923	21,648	20,537	19,558	20,362	18,172	19,833	17,603	17,415	20,587	0	0	0
INVESTING ACTIVITIES:
Proceeds from sale of marketable securities
-	-	-	-	-	-	-	-	-	-	-	-	-	52	52	52	17	299	558	650	698	862	0	0	0	-	-	-	-	1,527	2,429	2,318	2,316	1,165	0	0	0
Purchase of marketable securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	75	83	58	146	637	0	0	0	-	-	-	-	583	0	0	0	-	-	-	-
Purchase of property and equipment
77	169	356	547	646	693	491	327	230	72	75	81	60	68	59	77	101	133	150	202	376	452	654	585	471	396	272	268	218	188	111	123	159	168	0	0	0
Purchase of equipment for lease contracts
8,997	9,009	10,821	15,888	18,625	23,104	26,369	24,766	24,087	25,403	29,032	29,157	28,989	26,211	20,108	21,361	19,054	22,192	24,670	23,808	28,920	27,547	27,141	25,688	22,553	20,727	21,399	23,073	24,128	23,792	22,172	20,344	19,996	20,378	0	0	0
Net cash provided by (used for) investing activities
-9,075	-9,178	-3,229	-3,022	-900	453	-5,291	-2,676	-165	85	-3,555	-4,724	-4,062	-3,220	2,190	1,042	3,599	4,499	2,907	4,460	-3,126	-7,050	-8,502	-8,294	-6,213	-3,993	-4,270	-6,508	-7,576	-6,149	-4,009	-2,735	-836	-2,252	0	0	0
FINANCING ACTIVITIES:
Proceeds from borrowings on line of credit
50,500	18,800	0	0	0	-	-	-	-	51,900	55,100	19,100	20,200	18,800	16,400	17,200	62,200	62,300	62,000	59,100	20,500	33,900	0	0	0	-	-	-	-	25,100	0	0	0	-	-	-	-
Payments on line of credit
22,000	18,800	28,900	34,500	34,400	42,700	44,100	40,800	41,600	39,900	38,400	39,500	37,500	37,800	37,400	35,800	34,300	38,400	0	0	0	-	-	-	-	12,800	17,500	20,300	18,100	14,300	9,600	6,300	9,000	11,800	0	0	0
Payments on notes payable
3,250	3,250	3,250	3,250	3,250	3,250	3,250	2,937	2,625	2,312	2,000	2,000	2,000	2,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repurchases of common stock
48,987	24,028	0	0	0	-	-	-	-	-	-	-	-	1,573	0	0	0	-	-	-	-	11,564	11,564	8,270	2,660	1,854	0	0	0	-	-	-	-	3,527	0	0	0
Proceeds from exercises of stock options
10,907	10,918	3,643	2,918	2,927	2,819	3,152	1,959	2,269	2,309	2,464	2,352	1,244	1,305	285	264	423	273	185	185	190	418	507	2,525	3,344	3,237	3,957	2,130	1,148	1,430	909	727	1,035	1,053	0	0	0
Dividends paid
3,775	3,449	3,069	2,697	2,332	2,169	2,005	1,886	1,771	1,765	1,758	1,707	1,654	1,526	1,400	1,277	1,217	1,228	1,239	1,250	1,206	26,930	26,887	26,844	26,787	964	907	850	802	26,122	26,071	26,020	25,967	547	0	0	0
Proceeds from discounted lease rentals
0	-	-	-	-	5,868	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	721	0	0	0	-	-	-	-	-	-	-	-
Tax benefits on exercised stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	33	33	47	91	0	0	0	-	-	-	-	884	465	439	507	249	0	0	0
Net cash used for financing activities
-14,503	-18,864	-35,837	-37,407	-38,677	-33,978	-28,154	-27,302	-26,465	-25,422	-21,998	-21,754	-19,806	-22,794	-26,298	-23,795	-25,741	-27,908	-24,582	-28,671	-19,858	-19,485	-17,766	-11,169	-15,489	-9,246	-10,268	-13,045	-12,688	-18,809	-17,471	-13,866	-16,852	-11,572	0	0	0
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH
27,265	22,604	6,320	-171	-773	1,412	141	236	152	-129	-45	18	515	261	60	-62	-947	-1,083	-954	-1,023	-251	-8,552	-6,232	103	220	8,409	5,998	4	98	-6,786	-1,647	1,001	-274	6,763	0	0	0
SUPPLEMENTAL DISCLOSURES:
Cash paid for interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,440	2,274	2,024	1,492	950	426	494	421	323	196	162	217	269	352	406	341	286	193	92	162	0	0	0
Cash paid for income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	11,907	12,269	13,428	14,647	14,798	14,357	14,606	16,229	14,835	13,724	10,537	10,135	9,753	9,577	9,169	10,291	8,443	7,897	5,336	5,203	0	0	0