FC Stock Cash Flow Statements

Franklin Covey Co Quarterly Cash Flow Statements Chart

Quarterly

Annual

Stock-Based Compensation

Operating Cash Flow

Investing Cash Flow

Financing Cash Flow

Free Cash Flow

Capital Expenditure

Franklin Covey Co Quarterly Cash Flow Statements Table

Quarterly

Annual

Unit: USD	2025-05-31	2025-02-28	2024-11-30	2024-08-31	2024-05-31	2024-02-29	2023-11-30	2023-08-31	2023-05-31	2023-02-28	2022-11-30	2022-08-31	2022-05-31	2022-02-28	2021-11-30	2021-08-31	2021-05-31	2021-02-28	2020-11-30	2017-02-28	2016-11-26	2016-08-31	2016-05-28	2016-02-27	2015-11-28	2015-08-31	2015-05-30	2015-02-28	2014-11-29	2014-08-31	2014-05-31	2014-03-01	2013-11-30	2013-08-31	2013-06-01	2013-03-02	2012-12-01	2012-08-31	2012-05-26	2012-02-25	2011-11-26	2011-08-31	2011-05-28	2011-02-26	2010-11-27	2010-08-31	2010-05-29	2010-02-27	2009-11-28	2009-08-31	2009-05-30	2009-02-28	2008-11-29	2008-08-31	2008-05-31	2008-03-01	2007-12-01	2007-06-02	2007-03-03	2006-12-02	2006-08-31	2006-05-27	2006-02-25	2005-11-26	2005-08-31	2005-05-28

cash flows from operating activities
net income	-1,409,000	-1,076,000	1,181,000	11,956,000	5,721,000	874,000	4,851,000	6,812,000	4,563,000	1,739,000	4,667,000	5,578,000	7,162,000	1,878,000	3,812,000	1,807,000	12,754,000	-46,000	-892,000	-3,333,000	-3,958,000	7,726,000	-1,052,000	-448,000	790,000	7,669,000	1,192,000	427,000	1,828,000	12,455,000	1,922,000	1,971,000	1,719,000	1,030,000	2,110,000	1,592,000	2,897,000	3,400,000	1,617,000	1,162,000	1,662,000	2,984,000	722,000	307,000	794,000	-520,000	135,000	-381,000	248,000	-4,577,000	-5,053,000	-633,000	-569,000	2,218,000	-1,511,000	3,082,000	2,059,000	887,000	4,713,000	1,416,000	15,108,000	1,019,000	9,213,000	3,233,000	-1,494,000	3,068,000
adjustments to reconcile net income to net cash
provided by operating activities:
depreciation and amortization	2,110,000	2,115,000	2,048,000	1,955,000	2,052,000	1,984,000	2,162,000	2,212,000	2,020,000	2,043,000	2,338,000	2,377,000	2,546,000	2,536,000	2,710,000	2,789,000	2,661,000	2,874,000	2,872,000	1,649,000	1,588,000	1,593,000	1,741,000	1,787,000	1,822,000	2,067,000	1,898,000	1,993,000	1,917,000	1,909,000	1,838,000	1,806,000	1,773,000	5,649,000	1,713,000	1,344,000	1,324,000	1,395,000	1,321,000	1,493,000	1,489,000	1,701,000	1,812,000	1,755,000	1,839,000	1,697,000	1,845,000	1,951,000	1,936,000	2,435,000	1,990,000	1,800,000	1,813,000	1,834,000	2,792,000	2,418,000	2,489,000	2,526,000	2,637,000	2,340,000	2,243,000	2,475,000	2,534,000	3,037,000	2,892,000	3,414,000
amortization of capitalized curriculum costs	1,098,000	1,138,000	1,033,000		839,000	810,000	691,000		737,000	805,000	843,000		754,000	831,000	789,000		833,000	861,000	889,000	834,000	977,000	1,085,000	965,000	920,000	895,000	1,046,000	1,102,000	1,013,000	932,000	894,000	879,000	567,000	484,000		489,000	487,000	471,000	463,000	451,000	424,000	478,000	425,000	371,000	420,000	423,000	428,000	483,000	587,000	585,000
stock-based compensation	2,217,000	1,346,000	2,167,000		2,827,000	1,368,000	2,897,000		3,307,000	3,315,000	2,735,000		2,369,000	1,969,000	1,649,000		2,370,000	1,599,000	1,158,000
impairment of asset					0
deferred income taxes	157,000	71,000	-216,000	2,054,000	809,000	70,000	-1,048,000	2,349,000	1,269,000	737,000	393,000	1,530,000	-2,686,000	598,000	679,000	731,000	-10,323,000	-87,000	-111,000			2,110,000	-316,000	-75,000	135,000	3,410,000	-554,000	79,000	730,000	-2,944,000	1,302,000	504,000	459,000	3,439,000	334,000	-82,000	-56,000	1,006,000	646,000	662,000	394,000	-639,000	1,062,000	406,000	1,263,000	2,948,000	-552,000	-483,000	493,000	-2,113,000	-2,128,000	-736,000	-499,000	1,022,000	-526,000	2,159,000	1,497,000	606,000	3,304,000	914,000
amortization of right-of-use operating lease assets	105,000	125,000	162,000	164,000	193,000	204,000	199,000	201,000	222,000	208,000	203,000	218,000	220,000	250,000	225,000	245,000	249,000	250,000	259,000
changes in assets and liabilities:
decrease in accounts receivable	3,802,000	8,261,000	24,190,000		-3,258,000	2,597,000	22,097,000		-1,979,000	3,906,000	15,144,000		-3,131,000	4,096,000	18,829,000		-2,587,000	1,496,000	13,482,000	8,210,000	10,850,000		2,303,000	1,188,000	15,410,000		-2,156,000	5,541,000	7,373,000		-25,000	1,174,000	5,939,000		-5,529,000	3,466,000	2,510,000										1,061,000
increase in inventories																					-191,000				-260,000				-128,000																													-1,335,000	-447,000	-1,169,000				-3,865,000
decrease in prepaid expenses and other assets	1,237,000	-589,000	1,781,000		2,005,000	-969,000	996,000		2,082,000	-973,000	2,306,000
decrease in accounts payable and accrued liabilities	4,376,000	-3,395,000	-10,912,000		-808,000	487,000	-7,984,000		4,208,000	-2,725,000	-14,098,000			-1,340,000	-9,825,000			2,477,000	-2,721,000	1,125,000	-6,562,000		1,939,000	2,805,000	-10,531,000		-20,000	10,000	-14,155,000		-406,000	2,071,000	-11,909,000		1,936,000	201,000	-7,524,000		-892,000				749,000				-1,782,000			1,355,000	-1,460,000			1,372,000	-1,172,000			839,000	-2,335,000	-2,861,000		941,000	-972,000	-4,597,000
decrease in deferred revenue and customer deposits	-5,397,000	-3,280,000	-7,079,000
increase in income taxes payable/receivable	-1,871,000							426,000				-217,000							-111,000	2,325,000	-2,630,000																					-128,000	-67,000	-178,000	438,000	1,863,000	-676,000	-749,000	261,000
decrease in other long-term liabilities	-217,000	-179,000	-228,000		-59,000	-91,000	-99,000		-176,000	-238,000	-89,000		-225,000	-548,000	-570,000		-480,000	-393,000	-519,000	922,000	-911,000						-140,000	29,000	67,000												-2,000									-1,000	107,000				35,000			-13,000
net cash from operating activities	6,263,000	-1,369,000	14,145,000	21,872,000	8,173,000	12,774,000	17,438,000	9,791,000	14,739,000	8,191,000	3,017,000	12,718,000	16,298,000	13,074,000	10,164,000	15,325,000	8,940,000	11,036,000	10,876,000	9,658,000	-2,878,000	10,798,000	5,032,000	9,726,000	7,109,000	10,774,000	3,200,000	14,072,000	-1,856,000	8,828,000	990,000	10,280,000	-1,974,000	4,446,000	-1,267,000	10,475,000	-296,000	6,884,000	-500,000	8,558,000	620,000	9,430,000	-2,095,000	10,457,000	-2,149,000	1,533,000	1,686,000	2,182,000	1,623,000	2,442,000	37,000	4,485,000	-1,682,000	-3,978,000	-2,625,000	8,841,000	5,590,000	-90,000	12,579,000	-3,792,000	7,082,000	-1,298,000	17,391,000	-6,166,000	10,284,000	955,000
capex	-1,779,000	-1,273,000	-998,000	-1,076,000	-900,000	-580,000	-1,027,000	-443,000	-1,021,000	-1,476,000	-1,027,000	-733,000	-811,000	-822,000	-282,000	-123,000	-251,000	-664,000	-165,000	-2,007,000	-1,740,000	-1,239,000	-853,000	-1,292,000	-275,000	-734,000	-712,000	-403,000	-463,000	-1,109,000	-590,000	-580,000	-1,087,000	-6,596,000	-261,000	-440,000	-946,000	-851,000	-540,000	-580,000	-126,000	-386,000	-1,197,000	-582,000	-126,000	-498,000	-549,000	-110,000	-30,000	-153,000	-320,000	-1,914,000	174,000	-1,380,000	369,000	-1,388,000	-705,000	-2,478,000	-3,088,000	-2,289,000	-1,032,000	-896,000	-1,823,000	-599,000	-1,508,000	-1,551,000
free cash flows	4,484,000	-2,642,000	13,147,000	20,796,000	7,273,000	12,194,000	16,411,000	9,348,000	13,718,000	6,715,000	1,990,000	11,985,000	15,487,000	12,252,000	9,882,000	15,202,000	8,689,000	10,372,000	10,711,000	7,651,000	-4,618,000	9,559,000	4,179,000	8,434,000	6,834,000	10,040,000	2,488,000	13,669,000	-2,319,000	7,719,000	400,000	9,700,000	-3,061,000	-2,150,000	-1,528,000	10,035,000	-1,242,000	6,033,000	-1,040,000	7,978,000	494,000	9,044,000	-3,292,000	9,875,000	-2,275,000	1,035,000	1,137,000	2,072,000	1,593,000	2,289,000	-283,000	2,571,000	-1,508,000	-5,358,000	-2,256,000	7,453,000	4,885,000	-2,568,000	9,491,000	-6,081,000	6,050,000	-2,194,000	15,568,000	-6,765,000	8,776,000	-596,000
cash flows from investing activities
purchases of property and equipment	-1,779,000	-1,273,000	-998,000	-1,076,000	-902,000	-644,000	-1,072,000	-970,000	-901,000	-1,404,000	-1,240,000	-1,097,000	-816,000	-744,000	-520,000	-417,000	-308,000	-692,000	-185,000	-1,904,000	-2,040,000	-1,387,000	-870,000	-1,106,000	-630,000	-827,000	-626,000	-476,000	-517,000	-1,137,000	-613,000	-608,000	-1,112,000	-7,308,000	-398,000	-462,000	-970,000	-851,000	-415,000	-459,000	-554,000	-386,000	-1,138,000	-499,000	-303,000	-498,000	-485,000	-272,000	-129,000	-153,000	-266,000	-1,271,000	-585,000	-1,380,000	-439,000	-1,077,000	-1,268,000	-2,478,000	-3,088,000	-2,289,000	-1,032,000	-896,000	-1,823,000	-599,000	-1,508,000	-1,551,000
curriculum development costs	-1,715,000	-948,000	-1,432,000		-1,425,000	-1,102,000	-2,668,000		-1,564,000	-4,303,000	-974,000		-605,000	-531,000	-243,000		-535,000	-1,029,000	-263,000	-1,679,000	-666,000		-1,243,000	-321,000	-106,000		-1,082,000	-292,000	-249,000		-689,000	-2,975,000	-2,739,000		-559,000	-568,000	-493,000		-91,000	-570,000	-1,097,000		-711,000	-332,000	-1,001,000		-101,000	-79,000	-86,000		-315,000	-735,000	-412,000		-1,293,000	-994,000	-573,000	-1,071,000	-2,576,000	-587,000		-851,000	-259,000	-702,000
reacquisition of license rights	0	0	-324,000
net cash from investing activities	-3,494,000	-2,221,000	-2,754,000	-3,497,000	-2,327,000	-1,746,000	-3,740,000	-3,164,000	-2,465,000	-5,707,000	-2,214,000	-1,872,000	-1,421,000	-1,275,000	-763,000	-749,000	-11,397,000	-1,721,000	-448,000	-3,583,000	-2,706,000	-1,953,000	-2,113,000	-1,427,000	-736,000	-1,370,000	-1,708,000	-1,030,000	-766,000	-2,521,000	-5,219,000	-4,708,000	-4,976,000	-4,670,000	-4,317,000	-1,030,000	-1,463,000	-1,206,000	-506,000	-1,029,000	-1,651,000	-1,439,000	-7,260,000	-831,000	-1,304,000	-278,000	-1,158,000	-351,000	-215,000	1,433,000	-792,000	-2,847,000	-997,000	22,994,000	-1,668,000	-1,551,000	-1,255,000	-3,211,000	-3,406,000	-2,876,000	-3,137,000	-1,747,000	-2,082,000	-1,301,000	-3,692,000	11,369,000
cash flows from financing activities
principal payments on notes payable				-1,250,000	-2,085,000	-1,250,000	-1,250,000	-1,250,000	-9,585,000	-1,250,000	-1,250,000	-1,250,000	-2,085,000	-1,250,000	-1,250,000	-1,250,000
principal payments on financing obligation	-982,000	-963,000	-945,000	-920,000	-890,000	-873,000	-855,000	-833,000	-804,000	-788,000	-774,000	-752,000	-726,000	-711,000	-698,000	-678,000	-653,000	-641,000	-628,000	-408,000	-401,000	-387,000	-369,000	-361,000	-355,000		-325,000	-318,000	-317,000		-296,000	-275,000	-277,000		-280,000	-264,000	-242,000		-218,000	-230,000	-213,000		-114,000	-183,000	-178,000		-161,000	-161,000	-157,000
purchases of common stock for treasury	-8,333,000	-8,704,000	-5,954,000	-4,905,000	-7,431,000	-2,105,000	-16,308,000	-5,883,000	-25,007,000	-3,830,000	-835,000	0	-20,315,000	-47,000	-3,488,000	0	0	-1,441,000	-1,530,000	-1,751,000	-17,000	-6,145,000	-2,119,000	-35,288,000	-34,000	-6,538,000	-5,988,000	-1,845,000	-56,000	-1,018,000	0	-149,000	-3,214,000	-1,180,000	-228,000	-41,000	-1,176,000
proceeds from sales of common stock held in treasury	428,000	355,000	320,000	390,000	393,000	328,000	356,000	377,000	423,000	372,000	367,000	330,000	338,000	324,000	344,000	290,000	319,000	208,000	256,000	128,000	153,000	190,000	184,000	147,000	158,000	185,000	180,000	162,000	162,000	181,000	155,000	145,000	133,000		134,000	97,000	104,000
net cash from financing activities	-9,722,000	-9,312,000	-6,579,000	-6,685,000	-10,013,000	-3,900,000	-18,057,000	-7,589,000	-27,866,000	-5,803,000	-2,921,000	-2,007,000	-23,216,000	-1,987,000	-5,460,000	-2,720,000	-1,943,000	-3,335,000	-3,481,000	-3,281,000	3,485,000	-7,331,000	458,000	-25,431,000	-231,000	-6,558,000	-6,133,000	-2,001,000	-211,000	-1,194,000	2,386,000	-279,000	-3,358,000	-22,550,000	-932,000	-986,000	-1,908,000	-1,163,000	-728,000	-1,901,000	600,000	-6,028,000	9,232,000	-10,010,000	1,711,000	-367,000	-1,705,000	347,000	-1,892,000	-3,737,000	-1,773,000	-1,241,000	-9,497,000	-8,216,000	3,861,000	-10,414,000	-1,390,000	-19,880,000	-3,539,000	-1,027,000	-2,170,000	-4,675,000	-11,707,000	-11,351,000	-172,000	-1,368,000
effect of foreign currency exchange rates on cash and cash equivalents	267,000	1,000	-181,000	399,000	-163,000	-183,000	88,000	-137,000	-200,000	288,000	-247,000	-390,000	-655,000	0	-108,000	-196,000	-186,000	103,000	176,000	16,000	-481,000	79,000	224,000	70,000	-52,000	-407,000	-163,000	-13,000	-79,000	33,000	-8,000	-107,000	19,000	421,000	-122,000	-196,000	-66,000
net decrease in cash and cash equivalents							-4,271,000																						-2,912,000				-10,289,000				-3,733,000				-425,000				-1,780,000				-540,000		-2,810,000				-481,000			-23,450,000	5,741,000	-7,708,000				-18,862,000
cash and cash equivalents at the beginning of the period	0	0	48,663,000		0	0	38,230,000		0	0	60,517,000		0	0	47,417,000		0	0	27,137,000	0	10,456,000		0	0	16,234,000		0	0	10,483,000		0	0	12,291,000		0	0	11,011,000
cash and cash equivalents at the end of the period	-6,686,000	-12,901,000	53,294,000		-4,330,000	6,945,000	33,959,000		-15,792,000	-3,031,000	58,152,000		-8,994,000	9,812,000	51,250,000		-4,586,000	6,083,000	34,260,000	2,810,000	7,876,000		3,601,000	-17,062,000	22,324,000		-4,804,000	11,028,000	7,571,000		-1,851,000	5,186,000	2,002,000		-6,638,000	8,263,000	7,278,000
supplemental disclosure of cash flow information:
cash paid for income taxes	1,021,000	5,284,000	745,000	1,243,000	1,318,000	822,000	822,000	856,000	848,000	768,000	836,000	1,466,000	442,000	725,000	577,000	312,000	666,000	385,000	403,000	254,000	688,000	710,000	1,055,000	620,000	1,025,000	600,000	841,000	458,000	484,000	554,000	3,040,000	675,000	2,054,000	-349,000	887,000	503,000	1,329,000	615,000	634,000	570,000	511,000	565,000	563,000			-37,000	54,000			217,000	632,000	380,000	1,559,000	432,000	1,431,000	588,000	1,098,000	534,000	452,000	818,000	331,000	1,191,000	494,000	599,000	779,000	168,000
cash paid for interest	162,000	123,000	143,000	176,000	316,000	278,000	337,000	343,000	420,000	366,000	372,000	360,000	513,000	372,000	410,000	435,000	549,000	523,000	562,000	621,000	615,000	606,000	564,000	520,000	541,000	524,000	537,000	530,000	539,000	560,000	558,000	559,000	560,000	1,220,000	570,000	586,000	597,000	604,000	614,000	625,000	630,000	677,000	647,000	675,000	703,000	706,000	711,000	735,000	710,000	715,000	728,000	799,000	784,000	671,000	731,000	821,000	923,000	724,000	656,000	668,000	661,000	664,000	664,000	673,000	527,000	26,000
non-cash investing and financing activities:
acquisition of property and equipment and capitalized curriculum
financed by accounts payable	-162,000	608,000	305,000
consideration for reacquired license rights from liabilities of seller	0	0	168,000
acquisition of right-of-use operating lease assets for operating lease liabilities					914,000	7,000	121,000		56,000	320,000	128,000		6,000	196,000	142,000		0	159,000	726,000
acquisition of content rights financed by accrued liabilities and other liabilities
impaired asset
decrease (increase) in inventories											38,000	-160,000			-92,000							-323,000	-556,000			989,000	640,000					-233,000	-785,000	-2,297,000			431,000				-268,000													-180,000	-237,000	3,212,000	58,000				543,000	586,000
net increase in cash and cash equivalents		-12,901,000	4,631,000					-1,099,000	-15,792,000	-3,031,000	-2,365,000	8,449,000	-8,994,000	9,812,000	3,833,000	11,660,000	-4,586,000	6,083,000	7,123,000	2,810,000	-2,580,000	1,593,000	3,601,000	-17,062,000	6,090,000	2,439,000	-4,804,000							-22,353,000	-6,638,000			4,546,000	-1,749,000			1,887,000	-137,000			1,274,000	-952,000						-12,414,000				2,630,000				1,783,000	-7,550,000			6,237,000	10,611,000
decrease in inventories			161,000			-89,000	100,000										-24,000	37,000	309,000																									-272,000	507,000	-428,000	-113,000	684,000	463,000		602,000	120,000	670,000												560,000	1,888,000
increase in income taxes payable			-143,000	2,825,000	437,000	-366,000	557,000																													151,000	-248,000		-139,000	-291,000	410,000													1,030,000	-1,049,000	445,000	-171,000	-332,000	670,000	73,000		-4,061,000	1,487,000	39,000
in thousands
adjustments to reconcile net income to net cash provided
by operating activities:
amortization of capitalized curriculum development costs
stock-based compensation expense																				1,563,000	1,214,000
change in the fair value of contingent consideration liabilities
increase in accounts receivable																																													-5,195,000									-5,173,000	-147,000	779,000	-2,663,000	-3,975,000	3,637,000	-4,070,000				-5,424,000
increase in prepaid expenses and other assets																				7,000	-1,458,000				-585,000	-2,347,000			-209,000	-762,000	-306,000	-128,000	-347,000		59,000	-416,000	-570,000
increase in accounts payable and accrued liabilities												8,652,000				9,743,000																									-6,502,000				-2,701,000				1,325,000				-3,975,000				3,185,000
increase in deferred revenue and customer deposits
decrease in other liabilities
capitalized curriculum development costs
acquisition of content rights
proceeds from term notes payable financing																				0	5,000,000	0
payment of contingent consideration liabilities								0	0	-307,000	-429,000	-335,000	-428,000	-303,000	-368,000	-1,082,000	-359,000	-211,000	-329,000
cash paid for new secured credit agreement
cash and cash equivalents at beginning of the year
cash and cash equivalents at end of the year
acquisition of property and equipment and capitalized
curriculum financed by accounts payable
acquisition of content rights financed by accounts payable
change in fair value of contingent consideration liabilities									0	0	7,000		12,000	20,000	28,000		118,000	-16,000	62,000
proceeds from term notes payable
cash paid to obtain new credit agreement
purchases of property and equipment financed by accounts payable					2,000	64,000	45,000	527,000	-120,000	-72,000	213,000	364,000	5,000	-78,000	238,000	294,000	57,000	28,000	20,000	-103,000	300,000	148,000	17,000	-186,000	355,000	93,000	-86,000	73,000	54,000	28,000	23,000	28,000	25,000	712,000	137,000	22,000	24,000
acquisition of content rights financed by accrued liabilities
decrease in deferred revenue						4,967,000	-7,981,000		-227,000	-173,000	-11,501,000		2,758,000	2,701,000	-8,219,000		-2,675,000	2,128,000	-3,625,000		-553,000
changes in assets and liabilities, net of effect of acquired businesses:
increase in deferred revenue
acquisition of businesses, net of cash acquired
changes in assets and liabilities, net of effect of acquired business:
decrease (increase) in income taxes payable											31,000
decrease (increase) in accounts receivable																																									2,530,000	2,424,000							-1,302,000	-2,886,000	1,301,000	5,837,000	944,000												2,614,000
decrease in receivable from related party																						67,000	-555,000				-35,000
purchase of note receivable from bank
proceeds from line of credit borrowings																						7,139,000	18,942,000							8,625,000	19,331,000
payments on line of credit borrowings																						-7,139,000	-29,013,000							-11,152,000	-16,804,000
license rights acquired through royalties payable financing
use of notes receivable to modify revenue contract
acquisition of business, net of cash acquired																																																		0	-211,000
use of notes payable to acquire business
decrease (increase) in prepaid expenses and other assets														157,000	196,000				-176,000				813,000																				-161,000	1,806,000	102,000	-120,000	952,000
decrease in income taxes payable/receivable														-191,000	-47,000		-566,000												-63,000
consideration for business acquisition from liabilities of acquiree
loss on disposal of assets
principal payments on term notes payable																		-1,250,000	-1,250,000	-1,250,000	-1,250,000
increase (reduction) to estimated earn out liability																				-923,000	-1,013,000		88,000	1,238,000	130,000
by (used for) operating activities:
increase in receivable from related party																					-231,000				-803,000												-510,000
impairment of assets																										220,000
excess tax benefit from stock-based compensation
increase of estimated acquisition earn out liability
capitalized curriculum development
payment of contingent consideration liability																						0
income tax benefit (expense) recorded in paid-in capital
share-based compensation expense																							1,048,000	1,111,000	763,000	934,000	592,000	608,000	402,000	674,000	616,000	982,000	1,262,000						1,056,000	1,054,000	1,191,000		456,000	427,000	381,000		331,000	250,000	135,000		140,000	124,000	70,000		-425,000	228,000	-739,000	272,000
decrease (increase) in income taxes payable/receivable																							-1,384,000	-774,000	-657,000		-508,000
increase in other long-term liabilities																																26,000	82,000	-631,000	-14,000	-12,000	506,000	345,000	3,000			5,000	37,000			-76,000	-1,000	23,000	61,000				-191,000				18,000			59,000	15,000	-90,000	-13,000	-89,000	182,000	301,000
payment of contingent business acquisition costs
excess income tax benefits from share-based compensation
gain on disposals of assets
decrease (increase) in receivable from related party																													-522,000	489,000			1,274,000
capitalized curriculum development and other intangible assets
payments on notes payable financing
principal payments on long-term debt and financing obligation																																																		-696,000	-175,000	-175,000	-165,000	-144,000	-166,000	-164,000	-148,000	-105,000	-150,000	-147,000	-146,000	-143,000	-141,000	-681,000
income tax benefits recorded in paid-in capital
exercise of common stock warrants																																					31,000
management stock loan activity
acquisition of business financed by accrued liabilities
reduction of estimated earn out liability																											-51,000	0	-28,000	-643,000
acquisition of businesses
adjustments to reconcile net income to net cash used
for operating activities:
other income
decrease in income taxes payable																															-3,284,000	138,000	-1,405,000																				-1,885,000												-285,000
decrease (increase) in other long-term liabilities
principal payments on notes payable financing																																			-417,000	-833,000	-625,000
payments for exercises of common stock warrants
reduction of estimated earnout liability																																-67,000	-520,000
acquisition of business																																-1,125,000	-1,125,000
in thousands, except per share data
assets
current assets:
cash and cash equivalents
accounts receivable, less allowance for doubtful accounts of 821 and 979
inventories
prepaid expenses and other assets
total current assets
property and equipment
intangible assets
other long-term assets
liabilities and shareholders’ equity
current liabilities:
current portion of long-term debt and financing obligation
line of credit
accounts payable
income taxes payable
accrued liabilities
total current liabilities
long-term debt and financing obligation, less current portion
other liabilities
deferred income tax liabilities
total liabilities
commitments and contingencies
shareholders’ equity:
preferred stock – series a, no par value; 4,000 shares authorized, zero and 1,494 shares issued and outstanding; liquidation preference totaling zero and 38,278
common stock, .05 par value; 40,000 shares authorized, 27,056 shares issued
additional paid-in capital
common stock warrants
retained earnings
accumulated other comprehensive income
treasury stock at cost, 7,296 shares and 7,083 shares
total shareholders’ equity
year ended august 31,
in thousands, except per share amounts
net sales:
products
training and consulting services
cost of sales:
gross profit
selling, general, and administrative
gain on sale of manufacturing facility
depreciation
amortization
income from operations
interest income
interest expense
recovery from legal settlement
gain on disposal of investment in unconsolidated subsidiary																																																																	0
income before income taxes
income tax benefit
preferred stock dividends
loss on recapitalization of preferred stock
net income available to common shareholders
net income available to common shareholders per share:
basic
diluted
weighted-average number of common shares:
comprehensive income
adjustment for fair value of hedge derivatives
foreign currency translation adjustments
adjustments to reconcile net income to net cash from operating activities:
restructuring cost reversal																																																																	0	0
compensation cost of ceo fully-vested stock grant
share-based compensation cost																																		-539,000	488,000	972,000	473,000																							119,000
gains on disposals of assets
purchases of short-term investments																																																																	0	0
sales of short-term investments																																																																	0	12,420,000
proceeds from disposal of consolidated subsidiary
proceeds from disposal of unconsolidated subsidiary
proceeds from sale of property and equipment
proceeds from line of credit borrowing																																									5,942,000				16,265,000				13,066,000				33,337,000				17,654,000
proceeds from sale and financing of corporate campus
redemptions of series a preferred stock
change in restricted cash																																																													0	0	0	699,000
proceeds from sales of common stock from treasury																																							115,000	106,000	99,000		94,000	73,000	77,000		85,000	64,000	62,000		65,000	44,000	115,000	151,000	118,000	91,000	102,000	69,000	67,000	70,000	94,000	160,000	47,000	126,000	74,000	0
proceeds from management stock loan payments																																														0	0														0	0	0	134,000	-1,000
payment of preferred stock dividends																																																										-348,000	-933,000	-934,000	-933,000	-934,000	-1,389,000	-1,629,000	-2,469,000	-2,183,000
accrued preferred stock dividends																																																											0	934,000	0	0	-250,000	1,184,000	-750,000	0
promissory notes received from sales of consolidated subsidiaries
balance at august 31, 2004
extinguishment of previously existing series a preferred stock
preferred stock recapitalization
preferred stock redemption
issuance of common stock from treasury
purchase of treasury shares																																													-4,000				-10,000											-16,000		-3,758,000				0
unvested stock awards
amortization of deferred compensation																																																																	62,000	358,000
ceo fully-vested stock award
non-qualified deferred compensation plan treasury stock transactions
payments on management common stock loans
cumulative translation adjustments
balance at august 31, 2005
preferred stock redemptions
unvested stock award
reclassification of deferred compensation upon adoption of sfas 123r
receipt of common stock as consideration for payment on management common stock loans
balance at august 31, 2006
common stock warrant activity
sale of brazil subsidiary
balance at august 31, 2007
1.
august 31,
finished goods
work in process
raw materials
description
buildings
machinery and equipment
computer hardware and software
furniture, fixtures, and leasehold improvements
accrued compensation
unearned revenue
outsourcing contract costs payable
customer credits
other accrued liabilities
net income attributable to common shareholders, as reported
add: share-based compensation expense included in reported net income, net of related tax effects
deduct: stock-based compensation expense determined under the fair value based method for all awards, net of related tax effects
net income attributable to common shareholders, pro forma
basic and diluted net income per share, as reported
basic and diluted net income per share, pro forma
2.
land and improvements
less accumulated depreciation
3.
august 31, 2007
definite-lived intangible assets:
license rights
curriculum
customer lists
trade names
indefinite-lived intangible asset:
covey trade name
august 31, 2006
category of intangible asset
year ending august 31,
2008
2009
2010
2011
2012
4.
5.
financing obligation on corporate campus, payable in monthly installments of 254 for the first five years with two percent annual increases thereafter (imputed interest at 7.7%), through june 2025
mortgage payable in monthly installments of 9 cdn (9 usd at august 31, 2007), plus interest at the cdn prime rate (6.3% at august 31, 2007) through january 2015, secured by real estate
less current portion
total long-term debt and financing obligation, less current portion
thereafter
total future minimum financing obligation payments
less interest
present value of future minimum financing obligation payments
6.
7.
8.
·
9.
fiscal year
2007
2006
2005
10.
waiver of right to collect– the company will waive its right to collect the outstanding balance of the loans prior to the earlier of (a) march 30, 2008, or (b) the date after march 30, 2005 on which the closing price of the company’s stock multiplied by the number of shares purchased equals the outstanding principal and accrued interest on the management stock loans (the breakeven date).
lower interest rate– effective may 7, 2004, the company prospectively waived collection of all interest on the loans in excess of 3.16 percent per annum, which was the “mid-term applicable federal rate” for may 2004.
use of the company’s common stock to pay loan balances– the company may consider receiving shares of our common stock as payment on the loans, which were previously only payable in cash.
elimination of the prepayment penalty– the company will waive its right to charge or collect any prepayment penalty on the management common stock loans.
modification of promissory note– the management stock loan due date was changed to be the earlier of (a) march 30, 2013, or (b) the breakeven date as defined by the may 2004 modifications. the interest rate on the loans will increase from 3.16 percent compounded annually to 4.72 percent compounded annually.
redemption of management loan program shares– the company will have the right to redeem the shares on the due date in satisfaction of the promissory notes as follows:
11.
variable-rate line of credit– the interest rate on our line of credit obtained in fiscal 2007 is variable and is adjusted to reflect current market interest rates that would be available to us for a similar instrument. as a result, the carrying value of the outstanding balance on the line of credit approximates its fair value.
variable-rate debt– the carrying value of our variable-rate mortgage in canada approximated its fair value since the prevailing interest rate is adjusted to reflect market rates that would be available to us for a similar debt instrument with a corresponding remaining maturity.
losses on foreign exchange contracts
gains on foreign exchange contracts
net gain on foreign exchange contracts
contract description
mexican pesos
japanese yen
australian dollars
losses on net investment hedge contracts
gains on net investment hedge contracts
net incomees on investment hedge contracts
12.
performance awards
unvested share awards
compensation cost of espp
stock options
award date
fiscal 2006
fiscal 2007
unvested stock awards at august 31, 2006
granted
forfeited
vested
unvested stock awards at august 31, 2007
outstanding at august 31, 2006
exercised
outstanding at august 31, 2007
options vested and exercisable at august 31, 2007
range of exercise prices
1.70 – 7.00
7.75 – 9.69
14.00 – 14.00
17.69 – 17.69
13.
cash
accounts receivable
other current assets
other assets
total assets held for sale
total liabilities held for sale
14.
15.
16.
17.
current:
federal
state
foreign
deferred:
change in valuation allowance
united states
federal statutory income tax rate
state income taxes, net of federal effect
deferred tax valuation allowance
foreign jurisdictions tax differential
tax differential on income subject to both u.s. and foreign taxes
resolution of tax matters
tax on management stock loan interest
other
deferred income tax assets:
sale and financing of corporate headquarters
net operating income carryforward
impairment of investment in franklin covey coaching, llc
foreign income tax credit carryforward
inventory and bad debt reserves
vacation and other accruals
deferred compensation
alternative minimum tax carryforward
sales returns and contingencies
intangible asset amortization and impairment
total deferred income tax assets
less: valuation allowance
net deferred income tax assets
deferred income tax liabilities:
intangibles and property and equipment step-ups – definite lived
intangibles and property and equipment step-ups – indefinite lived
property and equipment depreciation
intangible asset impairment and amortization
unremitted earnings of foreign subsidiaries
total deferred income tax liabilities
net deferred income taxes
current assets
long-term assets
deferred income tax liability
net deferred income tax asset
domestic pre-tax book income
sale of corporate headquarters
interest on management common stock loans
amortization/write-off of intangible assets
property and equipment depreciation and dispositions
changes in accrued liabilities
other book versus tax differences
18.
non-convertible preferred stock dividends
convertible preferred stock dividends
undistributed income through february 26, 2005
common stock ownership on an “as converted” basis
common shareholder interest in undistributed income through february 26, 2005
undistributed income in fiscal year indicated
common shareholder interest in undistributed income
weighted-average common shares outstanding – basic
effect of dilutive securities:
weighted-average common shares outstanding – diluted
basic eps
diluted eps
19.
consumer solutions business unit– this business unit is primarily focused on sales to individual customers and small business organizations and includes the results of our domestic retail stores, consumer direct operations (primarily ecommerce, call center, and public programs), wholesale operations, international product channels in certain countries, and other related distribution channels, including government product sales and domestic printing and publishing sales. the csbu results of operations also include the financial results of our paper planner manufacturing operations. although csbu sales primarily consist of products such as planners, binders, software, totes, and related accessories, virtually any component of our leadership, productivity, and strategy execution solutions may be purchased through our csbu channels.
organizational solutions business unit– the osbu is primarily responsible for the development, marketing, sale, and delivery of strategic execution, productivity, leadership, sales force performance, and communication training and consulting solutions directly to organizational clients, including other companies, the government, and educational institutions. the osbu includes the financial results of our domestic sales force and certain international operations. the domestic sales force is responsible for the sale and delivery of our training and consulting services in the united states. our international sales group includes the financial results of our wholly-owned foreign offices and royalty revenues from licensees.
fiscal year ended august 31, 2007
consumer solutions business unit:
retail
consumer direct
wholesale
csbu international
other csbu
total csbu
organizational solutions business unit:
domestic
international
total osbu
total operating segments
corporate and eliminations
consolidated
fiscal year ended august 31, 2006
fiscal year ended august 31, 2005
reportable segment ebitda
corporate expenses
consolidated ebitda
consolidated income from operations
legal settlement
reportable segment assets
corporate assets
intercompany accounts receivable
japan
united kingdom
canada
mexico
brazil/south america
australia
korea
singapore
indonesia/malaysia
others
long-lived assets:
americas
20.
21.
22.
each fiscal year of extended term
loss on disposals of property and equipment																																							3,000												11,000
proceeds from exercise of common stock warrants
gain on sale of discontinued operation
loss on disposals of assets
proceeds from sale of discontinued operation
proceeds from notes payable financing
cash flows from operating activities:
decrease (increase) in receivable from related party, prepaid expenses, and other assets																																							-385,000	396,000	-762,000
cash flows from investing activities:
cash flows from financing activities:
proceeds from line-of-credit borrowing																																							0				20,955,000				14,903,000				13,538,000				21,660,000
payments on line-of-credit borrowing																																							0				-15,354,000				-16,183,000				-15,201,000				-17,751,000
proceeds from bank note payable
payments on bank note payable																																							-625,000
purchase of common shares for treasury																																							0				1,000				-19,000
effect of foreign exchange rates on cash and cash equivalents																																							-15,000	-5,000	6,000		-14,000	-54,000	-38,000		225,000	-164,000	-56,000		-282,000	139,000	-238,000		-49,000	-298,000	-315,000	-269,000	107,000	-13,000		170,000	-76,000	-44,000		-345,000
cash and cash equivalents at beginning of the period																																							0	0	3,016,000		0	0	3,484,000		0	0	1,688,000		0	0	15,904,000		0	0	6,126,000	0	0	30,587,000		0	0	51,690,000		0
cash and cash equivalents at end of the period																																							-1,749,000	5,623,000	2,591,000		-137,000	-438,000	1,704,000		-952,000	2,014,000	1,148,000		-2,810,000	536,000	3,490,000		-481,000	-3,422,000	8,756,000	-23,450,000	5,741,000	22,879,000		-7,550,000	3,526,000	32,828,000		10,611,000
acquisition of property and equipment through accounts payable																																							-125,000	-121,000	428,000		-59,000	-83,000	177,000		-64,000	162,000	99,000		-54,000	-643,000	759,000		808,000	-311,000	563,000
payments on line of credit borrowing																																									-4,811,000				-14,449,000				-14,853,000				-14,562,000				-18,998,000
principal payments on bank note payable																																									-417,000
restructuring charges
proceeds from disposal of consolidated subsidiaries
proceeds from sales of property and equipment																																																						0	0			338,000
gain on disposals of property and equipment																																											126,000				3,000								0			-73,000
proceeds from sale of component of subsidiary
proceeds from notes payable to bank
payments on notes payable to bank
proceeds from short-term notes payable																																															0
payments on short-term notes payable																																															-330,000
cash paid for income taxes, net of cash received																																													288,000				168,000
gain on sale of consumer solutions business unit assets
increase in receivable from equity method investee
proceeds from the sale of consumer solutions business unit assets
investment in equity method investee
acquisition of treasury stock from tender offer through liabilities
proceeds on notes receivable from disposals of subsidiaries																																																			0				64,000	460,000	586,000
equity in earnings of equity method investee
decrease (increase) in other assets																																																	-2,582,000				1,235,000						1,341,000	-613,000			-1,557,000	1,423,000		-550,000
decrease (increase) in receivable from equity method investee
decrease in receivable from equity method investee																																																			-1,316,000	2,096,000	705,000
decrease in other assets																																																			959,000				-385,000
purchase of treasury shares through tender offer																																																			0	-48,000	-28,222,000
increase in receivable from investment in equity method investee
redemption of preferred stock																																																														0	-10,000,000	-10,000,000
purchases of treasury shares																																																										-22,000
increase in other assets																																																									-143,000
redemptions of preferred stock
capital lease financing of property and equipment purchases																																																														0	0	109,000
issuance of unvested stock as deferred compensation
stock-based compensation cost																																																														332,000	158,000	77,000
compensation cost related to ceo common stock grant
gain on disposal of unconsolidated subsidiary
proceeds from sale of investment in unconsolidated subsidiary
issuance of unvested common stock for compensation plans
benefit from losses on management stock loans
recovery of investment in unconsolidated subsidiary
equity in loss of unconsolidated subsidiary
ceo compensation contribution
cash distributions of earnings from unconsolidated subsidiary
investment in unconsolidated subsidiary
redemption of series a preferred stock
gain on disposal of assets																																																																		3,000
compensation related to ceo common stock grant																																																																		0
decrease in accounts payable, outsourcing contract costs payable, and accrued liabilities																																																																		2,772,000
principal payments on long-term debt																																																																		-25,000
issuance of restricted common stock awards
issuance of restricted stock as deferred compensation

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