AMERICAN PUBLIC EDUCATION, INC.
Cash Flow Statement
| Line Item | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | FY2010 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $21.1M | $24.2M | $32.4M | $40.9M | $42.0M | $42.3M | $40.8M | $29.9M |
| Depreciation & Amortization | $18.8M | $19.4M | $20.5M | $16.1M | $13.5M | $11.1M | $9.2M | $6.5M |
| Depreciation | $18.2M | $18.7M | $19.6M | $15.0M | $13.2M | $11.0M | $9.1M | $6.4M |
| Amortization | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | $6.2M | $5.2M | $5.9M | $5.4M | $4.0M | $3.8M | $3.2M | $2.8M |
| Net Cash from Operating Activities | $47.9M | $56.0M | $57.0M | $61.0M | $59.4M | $52.9M | $70.4M | $47.1M |
| Investing Activities | ||||||||
| Capital Expenditures | $14.8M | $16.4M | $26.0M | $24.6M | $20.6M | $35.0M | $24.9M | $22.5M |
| Business Acquisitions | $46.1M | $46.1M | $0 | $0 | $44.4M | — | — | — |
| Net Cash from Investing Activities | $-13.6M | $-13.5M | $-31.1M | — | $-69.2M | $-48.1M | $-25.2M | $-23.0M |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | — |
| Stock Repurchases | $1.6M | $848.0K | $35.3M | $19.7M | $14.4M | $15.9M | $9.7M | $20.2M |
| Net Cash from Financing Activities | $-1.5M | $-1.8M | $-35.8M | — | $-10.2M | $-8.9M | $-7.6M | $-17.6M |
| Net Change in Cash | $32.9M | $40.6M | $-9.9M | $20.8M | $-20.1M | $-4.1M | $37.7M | $6.5M |
| Free Cash Flow | $33.2M | $39.6M | $31.0M | $36.4M | $38.8M | $17.9M | $45.5M | $24.6M |