ADTRAN, Inc. ADTN Cash Flow

Adtran, inc. (ADTN)

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	Dec'10	Sep'10	Jun'10	Mar'10
Cash flows from operating activities:
Net income (loss)
-63,721	-52,982	-49,805	3,907	-7,758	-19,342	-22,005	-13,696	6,375	23,840	42,522	39,039	36,866	35,229	33,375	28,027	20,343	18,646	22,220	26,479	38,330	44,620	47,168	52,047	47,511	45,794	37,915	30,981	42,193	47,263	74,465	101,407	117,279	138,577	143,374	139,245	130,053	113,989	0	0	0
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization
17,640	17,771	17,254	17,278	16,773	15,891	15,610	14,841	14,983	15,692	16,181	16,095	15,383	14,407	13,740	13,678	13,864	14,245	14,483	14,634	14,993	14,845	14,734	14,722	14,545	14,628	14,734	14,837	14,647	14,079	13,430	12,645	11,870	11,499	11,138	10,796	10,676	10,545	0	0	0
Asset impairments
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of net premium on available-for-sale investments
45	100	122	127	86	50	-59	-683	-591	-425	-1,484	-781	-739	-643	806	1,200	1,712	2,402	3,082	3,666	4,135	4,360	4,631	4,913	5,337	5,956	6,602	7,242	7,840	8,257	8,263	7,955	7,489	6,617	5,810	5,161	4,577	4,380	0	0	0
Net (gain) loss on long-term investments
-5,369	11,434	-1,255	3,468	1,973	-4,050	7,216	3,718	4,118	4,685	4,638	4,945	4,665	5,923	6,061	6,805	8,950	10,337	8,489	9,116	8,201	7,278	8,884	7,948	7,161	8,614	9,146	9,925	10,728	9,550	10,686	11,138	12,154	12,454	12,074	12,491	11,583	11,008	0	0	0
Net (gain) loss on disposal of property, plant and equipment
-125	-67	-57	-57	6	-67	67	66	62	145	9	-6	-3	-22	-476	-489	-639	-644	-222	-265	-153	-142	-106	-23	17	-3	-5	-7	-17	214	221	215	220	-6	-7	-7	-17	-2	0	0	0
Gain on bargain purchase of a business
-	-	-	-	-	11,322	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Stock-based compensation expense
6,894	6,962	7,096	6,865	7,195	7,155	7,103	7,297	7,369	7,433	7,667	7,325	7,020	6,695	6,525	6,707	6,631	6,712	7,055	7,528	8,145	8,563	8,853	8,882	8,898	9,073	8,997	9,172	9,275	9,264	9,497	9,436	9,301	9,169	8,945	8,385	8,117	7,717	0	0	0
Deferred income taxes
29,772	30,070	33,532	-2,753	-15,145	-17,257	0	0	0	-	-	-5,103	-5,067	-2,685	1,177	697	435	-692	-7,736	-7,646	-6,845	-5,526	-2,884	-3,831	-4,146	-4,058	-3,925	-1,208	-1,040	-3,785	-709	-1,660	-2,332	575	428	667	1,321	-1,324	0	0	0
Tax impact of stock option exercises
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	40	-112	-125	-130	-81	0	0	0	-	-	-	-	1,905	1,881	1,908	2,075	10,525	10,907	13,470	14,414	4,909	0	0	0
Excess tax benefits from stock-based compensation arrangements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	13	-33	17	63	0	0	0	-	-	-	-	1,456	1,474	1,539	1,679	9,373	9,729	12,005	12,878	4,404	0	0	0
Changes in operating assets and liabilities:
Accounts receivable, net
-11,164	-8,282	-15,637	35,019	14,534	-49,200	962	-3,917	-7,554	49,103	-1,093	-9,801	18,807	21,302	15,295	271	-24,241	-14,918	-12,740	-25,670	-7,490	3,910	-3,295	15,307	21,407	6,742	2,513	-17,197	5,487	2,847	12,677	35,628	-9,957	4,939	19,938	11,626	10,315	2,849	0	0	0
Other receivables
-11,338	-20,046	-10,965	-3,147	-77	8,522	9,140	10,784	18,704	10,222	6,298	3,204	4,215	-4,101	-8,647	-19,699	-21,393	-11,704	-1,960	15,345	9,380	19,298	7,350	1,693	9,531	348	2,613	1,747	-1,047	-2,977	-4,610	-2,679	-4,650	5,781	5,134	2,399	2,635	-135	0	0	0
Income tax receivable, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2,741	0	0	0	-	-	-	-
Inventory, net
6,320	-1,252	-1,651	-26,741	-26,798	-24,192	-10,508	5,908	4,751	15,518	19,687	23,372	18,449	10,887	-7,385	-12,315	-1,070	6,877	15,214	12,951	8,379	-2,144	-3,331	2,993	-5,701	-9,502	-14,775	-16,121	-22,878	-8,333	-1,655	-5,216	15,979	12,734	16,569	22,729	31,235	28,600	0	0	0
Prepaid expenses and other assets
-2,146	-2,749	8,066	-5,285	-2,953	-10,727	-13,539	-15,180	-8,166	4,830	11,575	12,698	6,438	7,108	8,585	7,900	7,940	5,070	1,388	2,148	2,007	3,818	2,926	1,686	1,055	-752	269	183	552	1,045	878	829	-28	-522	-462	103	419	574	0	0	0
Accounts payable, net
-10,948	-13,494	-14,591	527	6,600	-3,799	-7,792	-6,149	-26,262	-17,742	5,632	5,458	31,529	26,722	-3,150	-26,410	-32,430	-5,826	20,097	26,486	19,014	9,973	-21,304	-155	9,079	5,206	19,976	14,419	12,849	7,510	14,727	4,218	-2,242	6,044	4,739	-6,806	-1,869	-2,997	0	0	0
Accrued expenses and other liabilities
-8,923	-4,598	7,182	-4,594	-6,407	-3,226	-2,479	-818	-1,463	-5,455	-1,335	4,689	4,724	8,792	1,014	-10,990	-9,105	-10,289	-11,669	-6,239	-8,879	-166	-3,300	-311	-7,903	-15,146	-8,213	-10,791	4,796	8,895	4,031	17,538	1,990	6,309	16,148	4,698	14,021	8,626	0	0	0
Income taxes payable
-8,406	-8,705	-6,844	-2,085	4,450	7,690	4,748	530	2,562	3,858	8,350	11,910	474	-3,162	-13,394	-12,428	-10,653	-11,590	766	2,765	10,369	11,168	13,690	7,095	3,643	3,747	-3,660	-8,374	-8,598	-1,960	0	0	0	-	-	-	-10,006	-3,017	0	0	0
Net cash provided by (used in) operating activities
-12,208	-2,472	16,843	13,531	18,937	55,454	-15,711	-10,028	-5,187	-42,379	36,195	41,964	35,363	42,002	23,113	17,953	21,211	18,550	38,086	54,072	58,953	55,837	49,182	53,778	43,507	59,764	72,720	77,842	87,494	85,873	106,436	121,722	138,520	150,472	138,534	109,556	102,256	92,789	0	0	0
Cash flows from investing activities:
Purchases of property, plant and equipment
9,028	9,494	8,423	8,234	8,032	8,110	8,111	11,394	12,798	14,720	21,061	22,271	22,147	21,441	16,594	13,040	12,477	11,753	10,937	11,729	11,656	11,256	10,212	9,891	9,572	8,173	7,684	7,734	8,877	12,320	13,006	13,278	12,819	11,778	12,028	11,370	10,588	9,872	0	0	0
Proceeds from disposals of property, plant and equipment
-	-	-	-	-	-	-	-	-	151	0	0	0	-	-	-	-	-	-	-	-	1	0	0	0	-	-	-	-	266	0	0	0	-	-	-	-	-	-	-	-
Acquisition of note receivable
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sales and maturities of debt and equity investments
76,669	47,268	75,453	91,519	121,614	153,649	153,237	178,297	198,355	173,752	221,244	196,973	188,960	225,075	231,810	270,006	282,946	280,435	232,734	183,923	203,022	230,019	254,999	285,922	310,506	343,567	359,054	367,895	330,808	282,039	286,521	367,091	373,920	466,243	432,557	400,916	381,034	275,442	0	0	0
Purchases of debt and equity investments
50,139	48,578	45,161	54,952	62,567	123,209	128,699	117,802	139,584	93,141	149,704	161,409	186,636	209,172	214,875	239,198	196,390	188,921	128,848	98,915	118,097	142,695	172,570	188,301	205,396	261,625	278,514	300,621	312,505	282,740	331,709	380,608	425,816	554,629	511,381	538,671	499,992	340,489	0	0	0
Acquisition of business, net of cash acquired
-	-	-	-	-	22,045	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by (used in) investing activities
17,992	-9,791	8,643	15,107	36,776	285	8,756	41,430	38,302	66,042	50,495	12,366	-20,750	-6,481	-541	17,943	74,262	79,944	93,071	73,287	73,269	76,069	72,218	87,731	95,539	73,769	72,856	59,540	16,922	-5,259	-50,331	-41,694	-87,110	-122,825	-113,614	-149,125	-129,546	-74,919	0	0	0
Cash flows from financing activities:
Proceeds from stock option exercises
-	-	-	-	-	1,483	8,127	12,059	12,404	13,412	10,247	5,898	5,847	4,717	1,130	669	928	961	1,435	1,891	1,578	2,839	3,608	4,591	5,115	3,629	3,449	2,540	2,544	6,049	5,426	5,431	5,870	34,125	38,804	50,555	54,417	24,942	0	0	0
Purchases of treasury stock
-	184	1,531	2,942	5,545	15,532	14,185	12,811	21,960	17,348	20,248	26,549	20,373	25,817	23,269	33,432	74,128	66,160	84,240	76,792	74,184	80,576	82,264	87,441	111,148	124,267	0	0	0	-	-	-	-	-	-	-	-	18,316	0	0	0
Dividend payments
17,239	17,212	17,199	17,192	17,201	17,267	17,313	17,328	17,366	17,368	17,384	17,442	17,499	17,583	17,690	17,800	18,091	18,449	18,876	19,319	19,656	19,947	20,252	20,567	20,928	21,412	21,860	22,319	22,660	22,813	22,902	23,004	23,088	23,124	23,075	22,927	22,700	22,502	0	0	0
Repayment of bonds payable
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	16,500	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefits from stock-based compensation arrangements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-119	-83	-109	-63	0	0	0	-	-	-	-	1,456	1,474	1,539	1,679	9,373	9,729	12,005	12,878	4,404	0	0	0
Net cash used in financing activities
-42,313	-17,870	-19,142	-19,594	-22,732	-32,416	-24,471	-19,180	-28,022	-22,404	-28,485	-39,193	-33,125	-39,783	-40,932	-51,625	-92,400	-84,748	-101,668	-94,253	-92,245	-114,121	-115,303	-119,722	-143,248	-141,892	-133,692	-135,995	-82,221	-55,170	-45,967	-66,031	-52,104	-16,191	-17,956	31,397	36,359	-11,722	0	0	0
Net increase (decrease) in cash and cash equivalents
-36,529	-30,133	6,344	9,044	32,981	23,323	-31,426	12,222	5,093	1,259	58,205	15,137	-18,512	-4,262	-18,360	-15,729	3,073	13,746	29,489	33,106	39,977	17,785	6,097	21,787	-4,202	-8,359	11,884	1,387	22,195	25,444	10,138	13,997	-694	11,456	6,964	-8,172	9,069	6,148	0	0	0
Effect of exchange rate changes
-1,305	-1,598	-4,110	-2,546	-6,485	-4,252	-2,654	-701	4,972	5,279	3,756	2,747	-539	-393	965	-572	1,527	-2,635	-4,217	-4,794	-5,783	-2,644	-1,993	-443	-1,623	-1,800	-1,108	-796	-94	34	871	-816	-88	-154	-500	2,452	1,313	1,394	0	0	0
Supplemental disclosure of non-cash investing activities:
Purchases of property, plant and equipment included in accounts payable
119	90	-158	58	240	62	491	163	-6	408	1,201	2,003	2,127	2,103	469	882	299	598	1,172	314	1,166	467	548	293	437	444	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-