Cash Flow Statement
Quarterly Data
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
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Cintas Corp., consolidated cash flow statement (quarterly data)
US$ in thousands
Based on: 10-Q (reporting date: 2024-11-30), 10-Q (reporting date: 2024-08-31), 10-K (reporting date: 2024-05-31), 10-Q (reporting date: 2024-02-29), 10-Q (reporting date: 2023-11-30), 10-Q (reporting date: 2023-08-31), 10-K (reporting date: 2023-05-31), 10-Q (reporting date: 2023-02-28), 10-Q (reporting date: 2022-11-30), 10-Q (reporting date: 2022-08-31), 10-K (reporting date: 2022-05-31), 10-Q (reporting date: 2022-02-28), 10-Q (reporting date: 2021-11-30), 10-Q (reporting date: 2021-08-31), 10-K (reporting date: 2021-05-31), 10-Q (reporting date: 2021-02-28), 10-Q (reporting date: 2020-11-30), 10-Q (reporting date: 2020-08-31), 10-K (reporting date: 2020-05-31), 10-Q (reporting date: 2020-02-29), 10-Q (reporting date: 2019-11-30), 10-Q (reporting date: 2019-08-31), 10-K (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30), 10-Q (reporting date: 2018-08-31).
- Net Income
- Net income displayed moderate fluctuations with a general upward trend over the period. After a noticeable dip in May 2020, net income recovered strongly and reached record highs by mid-2024, reflecting overall improved profitability.
- Depreciation
- Depreciation expenses increased gradually and steadily throughout the periods, indicating ongoing investments in long-term assets and consistent usage or aging of existing assets.
- Amortization of Intangible Assets and Capitalized Contract Costs
- Amortization showed a modest upward trend overall, except for a notable spike in the final reported quarter, suggesting increased amortizable intangible assets or a change in amortization schedules.
- Stock-Based Compensation
- This expense was volatile, with periodic spikes and troughs. The general pattern indicates fluctuations possibly related to grant schedules or share price changes but no clear long-term directional trend.
- Unusual Gains and Losses
- There were sporadic gains and impairments reported, such as large gains on investment sales in early periods and impairments or property sale losses later. These irregular items contributed to income volatility.
- Deferred Income Taxes
- Deferred tax balances exhibited high variability without a clear directional trend, reflecting changes in tax positions and timing differences over time.
- Working Capital Components
- Accounts receivable and inventories generally showed irregular movements, with some large negative changes suggesting collection or inventory management issues during certain quarters. Accounts payable similarly fluctuated, indicating variability in vendor payment timing.
- Prepaid Expenses and Other Current Assets
- These assets experienced significant reductions in multiple quarters, indicating accelerated expense recognition or decreases in advance payments.
- Accrued Liabilities and Compensation
- The accrued compensation and related liabilities exhibited large swings, sometimes turning negative, likely reflecting timing of payroll and bonuses. Accrued liabilities alternated between increases and decreases without a clear trend.
- Income Taxes, Current
- Reported current income taxes were volatile, showing large positive and negative amounts, consistent with fluctuations in pre-tax income and tax provisioning.
- Cash Flows from Operating Activities
- Operating cash flow generally increased over time with some peaks around mid-2021 and sustained high levels into 2024, demonstrating strong cash-generating capacity despite temporary setbacks.
- Capital Expenditures
- Capital spending remained consistently significant, with some increases in certain fiscal years, indicating ongoing investment to support operations or growth initiatives.
- Investing Activities
- Net cash used in investing fluctuated substantially, with significant outflows related to acquisitions and capital expenditures, partially offset by proceeds from property sales and investments.
- Financing Activities
- Financing cash flows were notably volatile, showing large outflows caused by debt repayments, stock repurchases, and dividend payments. Occasional inflows from debt issuances and commercial paper were also recorded, reflecting active capital structure management.
- Cash and Cash Equivalents
- Quarterly changes in cash were inconsistent, with periods of both strong increases and decreases, reflecting the combined effects of operating, investing, and financing cash flow volatility.