ZILLOW GROUP, INC. ZG Cash Flow

Zillow group, inc. (ZG)
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	Jun'14	Mar'14
Operating activities
Net loss
-401,109	-305,361	-301,833	-237,676	-168,792	-119,858	-99,351	-89,653	-108,405	-94,420	-40,736	-43,135	-177,439	-220,438	-222,667	-255,523	-138,095	-148,874	0	0	0	0	0
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization
95,968	87,467	86,978	88,193	93,010	99,391	104,880	108,924	109,926	110,155	107,314	105,390	103,918	100,590	96,207	90,296	85,165	75,386	0	0	0	0	0
Share-based compensation expense
176,573	198,902	189,602	189,156	184,467	149,084	140,775	127,667	117,917	113,571	109,928	108,639	107,762	106,918	105,464	106,194	107,758	105,214	0	0	0	0	0
Amortization of right of use assets
25,167	23,142	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of contract cost assets
35,000	35,300	35,500	35,600	35,400	36,000	27,200	18,300	9,300	0	0	0	0	-	-	-	-	-	-	-	-	-	-
Amortization of discount and issuance costs on convertible senior notes maturing in 2021, 2023, 2024 and 2026
65,804	52,097	38,550	34,967	30,804	26,672	22,611	18,661	18,367	18,012	0	0	0	-	-	-	-	-	-	-	-	-	-
Impairment costs
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income taxes
0	-	0	0	0	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-
Restructuring costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-
Release of valuation allowance on certain deferred tax assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-
Loss on disposal of property and equipment and other assets
-7,422	-7,174	-6,232	-5,389	-3,518	-3,617	-4,722	-5,760	-6,482	-5,678	-4,358	-3,543	-3,252	-3,689	-3,793	-3,055	-2,733	-1,384	0	0	0	0	0
Credit loss expense
3,202	2,772	1,710	1,927	1,264	869	2,541	3,037	6,364	7,349	6,827	5,714	3,086	2,681	2,536	2,557	2,743	3,235	0	0	0	0	0
Net loss on investment securities
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred rent
-	-	-	-	-	-2,045	897	2,490	3,805	7,085	4,490	2,159	1,927	1,730	230	1,564	2,165	2,553	0	0	0	0	0
Accretion of bond discount
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accretion of bond discount
-	-	-	-	-	-	0	0	71	-	769	1,057	1,282	1,489	1,568	1,702	2,068	2,487	0	0	0	0	0
Changes in operating assets and liabilities:
Accounts receivable
4,379	3,694	13,047	20,105	17,311	12,556	14,925	19,389	19,039	21,203	20,826	17,865	12,613	13,324	8,812	2,633	3,525	1,051	0	0	0	0	0
Mortgage loans held for sale
7,379	1,098	2,514	4,405	-4,779	1,161	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Inventory
208,880	673,798	836,096	547,157	325,154	162,829	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Prepaid expenses and other assets
-4,643	978	24,904	21,386	22,682	34,068	8,639	-1,955	13,853	-10,807	14,023	26,227	11,231	13,260	3,413	2,133	3,530	761	0	0	0	0	0
Lease liabilities
-13,555	-18,940	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Contract cost assets
35,381	34,713	36,317	38,471	39,173	41,510	32,143	21,371	11,440	0	0	0	0	-	-	-	-	-	-	-	-	-	-
Accounts payable
7,310	-496	2,056	712	-494	1,311	1,657	3,196	1,246	-373	-2,216	-14,601	-685	856	532	5,101	-8,801	-11,158	0	0	0	0	0
Accrued expenses and other current liabilities
23,833	19,573	17,912	14,061	8,995	1,920	2,075	12,608	7,570	19,000	16,855	-8,867	-3,175	-5,065	-33,262	-13,392	-7,939	-18,384	0	0	0	0	0
Accrued compensation and benefits
2,538	6,417	6,940	7,595	6,566	11,291	361	-1,142	-3,850	-4,948	641	258	6,243	12,463	11,978	11,947	3,012	-4,020	0	0	0	0	0
Deferred revenue
-758	5,667	5,996	1,160	808	2,162	4,899	5,000	4,414	2,633	3,924	5,239	6,098	7,794	7,275	2,122	748	-2,434	0	0	0	0	0
Other long-term liabilities
-1,845	-1,028	2,084	2,111	2,252	1,962	0	0	0	-	-	-	-	1,612	-5,074	-6,712	-4,089	-965	0	0	0	-	-
Net cash provided by (used in) operating activities
-164,670	-612,174	-768,975	-443,025	-166,316	3,850	183,811	246,351	215,885	258,191	216,004	154,066	56,685	8,645	-46,365	-54,016	40,122	22,659	0	0	0	0	0
Investing activities
Proceeds from maturities of investments
1,120,143	1,126,058	996,695	765,967	640,029	399,228	316,382	298,368	271,506	259,227	245,061	227,361	204,368	199,369	250,192	275,160	315,771	335,443	0	0	0	0	0
Proceeds from sales of investments
0	-	-	-	0	-	-	-	-	-	-	-	-	4,963	4,963	8,076	8,076	8,260	0	0	0	-	-
Purchases of investments
1,377,524	1,495,477	532,886	974,376	1,001,444	901,761	952,629	443,704	399,753	407,032	351,465	284,838	220,458	175,210	207,421	226,916	286,522	307,658	0	0	0	0	0
Decrease in restricted cash, net of amounts assumed in connection with an acquisition
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-5,686	-5,581	-5,746	-3,931	0	0	0	-	-
Purchases of property and equipment
85,808	67,044	66,712	64,514	64,465	66,054	59,630	66,332	68,356	66,728	67,908	62,374	61,972	62,060	58,823	58,433	56,615	52,685	0	0	0	0	0
Purchases of intangible assets
20,825	19,591	19,425	16,631	14,652	12,481	10,709	9,900	7,697	11,907	11,212	11,026	12,295	9,662	9,339	12,837	17,814	15,423	0	0	0	0	0
Proceeds from divestiture of a business
-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-
Cash acquired in acquisition, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	173,406	0	0	0	-	-
Cash paid for acquisitions, net
-	-	-	-	-	-	-	-	-	11,533	11,147	9,964	9,964	16,319	0	0	0	-	-	-	-	-	-
Net cash provided by investing activities
-310,017	-456,054	338,101	-331,125	-482,103	-622,639	-708,972	-227,099	-219,831	-247,394	-218,054	-158,856	-108,336	-65,719	-22,102	-102,559	-124,548	64,441	0	0	0	0	0
Financing activities
Proceeds from borrowings on credit facilities
0	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of borrowings on credit facilities
407,815	113,665	2,902	2,961	0	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net borrowings (repayments) on warehouse lines of credit and repurchase agreement
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from exercise of stock options
144,103	65,465	46,465	53,415	80,732	120,074	132,684	135,464	139,971	98,071	90,760	85,737	40,535	31,211	26,385	17,438	16,981	24,423	0	0	0	0	0
Value of equity awards withheld for tax liability
5	3	6	1	40	70	95	136	156	365	461	625	736	616	697	7,925	7,964	8,150	0	0	0	-	-
Net cash provided by (used in) financing activities
1,334,723	1,635,694	1,650,801	1,153,685	1,015,128	930,137	852,214	135,328	139,815	97,706	131,232	126,045	80,732	71,528	25,688	9,513	9,017	16,273	0	0	0	0	0
Net increase in cash, cash equivalents and restricted cash during period
860,036	567,466	1,219,927	379,535	366,709	311,348	327,053	154,580	135,869	108,503	129,182	121,255	29,081	14,454	-42,779	-147,062	-75,409	103,373	0	0	0	0	0
Supplemental disclosures of cash flow information
Cash paid for interest
54,238	42,156	36,510	27,356	20,429	15,473	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Noncash transactions:
Value of Class A common stock issued in connection with an acquisition
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,883,728	0	0	0	-	-
Capitalized share-based compensation
12,927	11,947	10,858	9,845	9,160	8,590	8,995	10,570	10,488	11,236	11,167	10,046	10,679	10,061	10,057	10,840	10,145	10,319	0	0	0	0	0
Write-off of fully depreciated property and equipment
34,033	36,159	32,628	18,938	21,254	22,364	21,006	20,745	18,937	15,004	15,664	12,130	11,176	14,564	12,928	23,227	21,317	26,242	0	0	0	0	0
Write-off of fully amortized intangible assets
6,799	9,999	12,161	5,513	5,512	12,999	10,816	10,968	10,880	5,473	0	0	0	-	-	-	-	-	-	-	-	-	-
Property and equipment purchased on account
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-