Akamai technologies, inc (AKAM)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10Mar'10
Cash flows from operating activities:
Net income

123,146

119,100

137,890

113,915

107,130

94,015

107,583

43,061

53,714

27,520

63,911

56,752

74,583

96,234

76,000

73,635

74,858

88,420

88,040

67,200

77,746

97,107

91,155

72,886

72,800

80,349

79,756

61,895

71,487

68,292

48,231

44,239

43,227

60,081

42,285

47,921

50,617

52,510

39,709

38,123

40,878

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization

116,208

115,800

110,604

106,065

108,205

116,294

107,833

106,298

104,095

99,396

97,178

89,206

86,533

84,008

84,511

85,114

80,669

80,329

74,785

73,989

70,460

67,763

67,415

58,712

53,516

49,976

47,954

44,126

42,375

54,960

53,457

50,112

45,634

43,650

41,761

41,333

41,134

39,129

36,479

34,674

32,960

Amortization of deferred financing costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

50

63

184

210

Stock-based compensation

47,493

46,878

46,815

48,142

45,305

44,998

46,632

47,497

44,686

42,205

41,848

41,269

38,986

39,202

38,652

34,911

31,741

33,711

31,046

32,251

29,669

27,196

28,008

31,678

25,114

23,673

24,479

24,801

22,931

21,405

22,635

25,621

20,924

18,840

15,141

11,612

15,712

18,495

18,589

20,276

19,108

Provision (benefit) for doubtful accounts

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-310

879

320

-255

-345

-86

370

830

782

132

322

-561

662

292

1,153

Excess tax benefits from stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,114

9,609

13,128

8,280

4,297

4,483

15,178

4,649

8,530

5,503

4,119

5,426

2,540

1,635

13,414

1,663

610

1,838

9,012

6,594

9,456

9,750

3,173

(Benefit) provision for deferred income taxes

-2,888

-23,648

-27

15,626

8,982

-10,567

25,022

-4,302

-7,814

-30,378

-12,089

6,798

28,425

23,490

-16,646

1,713

1,072

22,039

-1,666

-24,580

8,305

-36,502

-11,218

20,180

1,660

27,343

0

0

0

-

-

-

-

-

-

-

-

-4,436

22,287

19,973

24,638

Amortization of debt discount and issuance costs

15,633

15,096

11,133

8,010

11,618

14,114

14,085

8,909

4,850

4,850

4,746

4,646

4,597

4,680

4,666

4,639

4,653

4,641

4,631

4,677

4,576

4,524

4,482

4,516

1,941

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Restructuring-related software charges

-

-

-

-

-

2,122

0

0

2,818

31,965

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other non-cash reconciling items, net

-12,052

-8,522

2,598

1,059

121

-21,438

1,345

3,636

4,379

-13,723

2,046

1,738

-129

-2,380

4,866

749

2,752

2,533

2,125

703

443

30

1,340

893

302

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(Gain) loss on disposal of property and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

324

-380

71

-65

-142

301

-97

-425

-176

-113

117

-205

22

-264

19

Gain from divestiture of a business

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,093

1,093

1,188

0

0

0

0

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities, net of effects of acquisitions:
Accounts receivable

73,913

26,327

17

-5,639

43,766

16,834

-3,278

-1,530

18,419

40,631

5,158

-15,611

19,876

25,447

-4,691

-1,880

-15,906

15,540

26,415

-18,260

32,552

8,184

8,959

23,117

18,137

15,863

16,118

6,848

28,355

-19,479

27,974

-7,803

1,416

30,016

8,277

7,101

-7,557

17,221

-10,064

18,988

-2,582

Prepaid expenses and other current assets

10,434

-23,352

-11,624

10,258

13,029

2,048

10,662

-13,505

4,927

-7,612

-14,644

4,052

47,172

-38,131

-15,005

7,510

3,481

8,982

-4,097

-13,839

1,817

38,442

9,348

-7,963

20,961

-5,424

-6,942

4,761

11,447

3,653

-1,038

-4,663

-4,309

4,750

919

-6,917

6,076

-29,304

1,109

28,906

11,378

Accounts payable and accrued expenses

-27,458

38,210

23,348

32,577

-85,366

34,317

35,012

4,221

-31,312

11,082

39,691

6,399

-23,940

-36,401

42,610

44,659

-32,377

25,526

-5,575

84,376

-52,703

57,822

15,417

43,970

-22,511

-3,197

20,035

28,223

-4,528

9,523

39,008

15,939

-5,798

12,482

445

2,678

-8,391

-44

8,695

25,198

-13,320

Deferred revenue

26,989

-30,261

-11,259

-1,313

29,286

-24,846

-5,625

4,309

25,243

1,410

-8,283

-232

10,043

-10,397

-5,241

1,473

10,653

-3,684

-115

76

6,947

37

2,938

-409

5,159

504

4,379

-1,613

8,225

-990

1,401

2,667

1,474

-2,335

796

1,271

-3,453

-2,328

-5,807

1,090

-2,409

Other current liabilities

928

4,620

-3,111

-9,266

-9,473

7,392

-3,625

-8,046

13,701

12,727

-2,250

2,385

3,516

814

-2,301

95

6,876

-491

-53

157

42

1

-2,122

132

1,287

20

255

-112

-111

-381

-28

-725

-2,144

3,752

-148

-32

0

-450

-74

-48

-45

Other non-current assets and liabilities

4,513

5,430

32,213

-7,491

-2,079

-24,480

10,397

937

-996

-23,270

-7

-4,113

12,948

32,299

-5,035

-3,011

1,949

6,261

-13,822

-2,684

-1,741

-32,469

1,529

12,697

-4,031

-6,662

1,723

-690

2,295

3,661

599

-1,061

566

5,144

-4,303

-9,068

16

-2,705

2,161

-4,232

3,470

Net cash provided by operating activities

223,243

282,140

297,385

317,929

160,850

286,155

310,481

219,681

192,010

197,441

236,291

224,633

142,618

184,222

251,848

244,369

191,373

247,092

182,608

264,023

99,729

195,541

173,282

200,224

89,023

171,732

157,888

141,064

93,224

152,713

135,252

149,552

92,503

129,630

116,289

111,848

88,511

110,359

117,963

86,380

87,753

Cash flows from investing activities:
Cash received (paid) for business acquisitions, net of cash acquired

-106

43,920

0

-55

121,464

0

0

0

79

171,872

0

197,191

10

92,503

2,936

0

0

18,702

-500

106,883

16,062

0

0

-115

386,647

3,237

27,500

-80

0

30,650

14,392

0

291,638

0

0

375

175

-

-

-

-

Cash paid for asset acquisition

36,376

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash paid for equity method investment

0

0

0

-4,205

40,213

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of property and equipment

141,095

90,901

110,608

88,406

69,752

74,324

44,985

46,716

51,584

68,680

80,585

59,657

45,224

46,075

48,054

45,014

41,806

49,272

102,909

67,571

91,924

64,693

44,474

45,981

52,011

45,397

40,345

58,391

43,831

47,657

46,496

42,187

30,433

27,676

37,244

32,925

35,600

39,685

33,145

58,243

28,203

Capitalization of internal-use software development costs

74,334

42,765

42,025

44,943

72,677

43,010

41,713

41,918

61,491

38,172

39,155

37,348

45,957

29,863

31,816

33,127

40,534

29,565

30,155

28,442

45,145

27,627

27,308

24,538

31,995

16,938

20,044

18,129

16,998

14,283

13,658

13,352

12,911

12,121

10,073

9,815

10,635

9,015

8,913

7,854

6,987

Purchases of short- and long-term marketable securities

389,779

616,585

981,805

381,133

10,625

91,611

314,200

394,534

73,352

77,399

67,879

88,913

92,306

166,253

230,223

288,742

95,843

108,690

178,200

308,685

97,304

157,211

204,607

204,648

658,943

91,329

93,681

164,525

145,350

198,039

137,809

135,845

280,649

152,657

149,318

302,520

275,615

246,406

285,408

382,614

232,065

Proceeds from sales of short- and long-term marketable securities

1,179

309

279

24

244

261

112

0

16,196

39,511

190

-42

180,257

-160

7,359

50,541

0

0

0

0

2,008

19,417

0

57,254

297,059

81,003

1,487

22,211

55,509

78,284

25,832

82,161

28,000

155,745

272,859

162,675

110,034

152,582

264,025

201,058

73,562

Proceeds from maturities of short- and long-term marketable securities

529,637

205,594

229,517

101,469

547,793

379,773

254,338

64,830

59,540

114,879

85,073

89,020

143,881

166,204

196,831

176,693

125,109

118,814

197,440

222,030

305,647

95,178

93,300

80,898

102,911

49,430

56,022

143,302

66,171

101,629

72,735

52,010

89,414

178,358

116,124

101,195

137,233

74,069

20,435

116,107

113,995

Increase in other investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

500

Proceeds from sale of property and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

335

166

260

0

0

2

10

15

47

63

25

124

14

15

23

Other non-current assets and liabilities

76

1,496

342

698

-2,935

-612

2,199

-236

715

420

23

808

335

-3,931

1,633

-842

2,354

-543

1,128

1,827

82

1,477

-5,194

-2,860

832

-692

2,958

362

0

-

-

-

-

53

0

0

221

330

0

0

8

Net cash (used in) provided by investing activities

-110,738

-589,764

-904,984

-409,427

236,241

171,701

-148,647

-418,102

-111,485

-202,153

-102,379

-294,939

140,306

-164,719

-110,472

-138,807

-55,428

-86,872

-114,452

-291,378

57,138

-136,413

-177,895

-134,040

-730,458

-26,537

-126,684

-75,648

-84,239

-110,883

-112,809

-57,211

-498,207

141,169

192,395

-81,702

-74,512

-68,459

-43,192

-143,541

-80,167

Cash flows from financing activities:
Proceeds from the issuance of convertible senior notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-868

679,603

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from Issuance of Warrants

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

77,970

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Payments for Hedge, Financing Activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

101,292

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of convertible senior notes

0

-

0

0

690,000

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of acquired debt and capital leases

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

17,862

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds related to the issuance of common stock under stock plans

19,546

13,908

14,432

8,998

19,774

10,111

18,394

11,365

22,738

13,940

16,060

8,150

17,530

17,221

15,244

8,745

18,350

7,503

17,776

12,072

24,440

11,748

17,362

13,670

44,329

9,289

26,157

17,897

10,364

11,354

11,191

15,491

7,078

11,997

1,183

8,163

3,959

13,830

10,953

16,947

4,046

Excess tax benefits from stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,114

9,609

13,128

8,280

4,297

4,483

15,178

4,649

8,530

5,503

4,119

5,426

2,540

1,635

13,414

1,663

610

1,838

9,012

6,594

9,456

9,750

3,173

Employee taxes paid related to net share settlement of stock-based awards

50,835

14,150

11,160

11,317

38,639

12,160

10,837

11,594

29,714

10,273

6,784

7,417

33,921

6,985

6,150

5,914

26,496

6,993

7,817

8,253

31,101

7,444

8,957

7,977

26,271

12,773

7,434

3,810

17,315

8,124

2,370

2,541

21,655

2,713

2,173

3,507

0

-

-

-

-

Repurchases of common stock

80,600

42,719

175,600

81,328

34,872

124,075

440,413

165,727

19,785

54,565

129,014

105,148

72,467

78,927

95,157

90,985

108,725

100,180

76,358

63,388

62,680

42,134

39,022

71,344

116,147

48,011

29,626

42,504

40,278

29,819

36,523

67,213

7,913

76,332

155,125

48,935

43,678

27,299

22,505

20,376

22,245

Other non-current assets and liabilities

0

0

0

0

-1,558

0

-241

-944

-3,900

0

0

-1,096

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in financing activities

-111,839

-42,973

836,285

-83,694

-745,295

-126,124

-433,534

823,927

-30,661

-50,898

-119,738

-105,511

-88,858

-68,691

-86,063

-88,154

-116,871

-124,521

-65,085

-51,210

-56,213

-29,550

-27,895

-62,036

555,508

-46,846

-2,373

-22,914

-43,110

-21,163

-25,162

-52,628

-9,076

-65,385

-155,505

-42,441

-30,707

-6,875

-2,096

6,321

-15,026

Effects of exchange rate changes on cash, cash equivalents and restricted cash

-8,983

5,116

-5,328

1,077

1,601

-1,316

-68

-12,625

1,165

631

2,107

5,233

5,019

-8,426

-154

-3,676

4,365

-2,697

-4,048

3,456

-6,747

-5,267

-7,318

1,291

762

527

1,319

-2,912

-2,589

-1,328

2,373

-1,441

307

-1,816

-3,209

750

2,016

-726

4,386

-1,878

-641

Net decrease in cash, cash equivalents and restricted cash

-8,317

-345,481

223,358

-174,115

-346,603

330,416

-271,768

612,881

51,029

-54,979

16,281

-170,584

199,085

-57,614

55,159

13,732

23,439

33,002

-977

-75,109

93,907

24,311

-39,826

5,439

-85,165

98,876

30,150

39,590

-36,714

19,339

-346

38,272

-414,473

203,598

149,970

-11,545

-14,692

34,299

77,061

-52,718

-8,081

Supplemental disclosure of cash flow information:
Cash paid for income taxes, net of refunds received of $1,204 and $1,176 for the three months ended March 31, 2020 and 2019, respectively

21,440

8,002

11,625

10,106

44,165

12,644

4,397

9,775

18,313

12,161

25,333

13,013

41,133

55,517

26,488

10,218

28,010

27,988

34,990

-12,076

24,131

48,488

57,363

5,881

54,479

19,317

8,395

19,699

16,097

43,011

16,259

24,077

11,486

19,048

8,632

8,416

9,482

2,371

1,699

15,573

6,557

Cash paid for interest expense

2,360

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash paid for operating lease liabilities

47,066

46,340

38,161

38,813

30,504

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash activities:
Operating lease right-of-use assets obtained in exchange for operating lease liabilities

31,050

442,169

23,498

34,452

29,257

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of property and equipment and capitalization of internal-use software development costs included in accounts payable and accrued expenses

22,874

23,256

-6,084

21,439

49,627

453

20,398

15,461

18,555

-2,337

15,520

7,615

6,411

19,656

5,662

-8,094

19,518

-7,699

-14,848

10,309

31,565

5,737

3,985

16,053

20,093

7,297

-1,714

-3,792

18,136

-

-

-

-

-

-

-

-

-

-

-

-

Capitalization of stock-based compensation

8,722

8,553

8,592

9,929

8,831

9,109

8,785

9,080

7,811

7,249

-25,386

7,788

39,200

-12,083

7,063

22,910

5,203

4,734

4,518

4,471

4,144

3,649

3,850

3,943

3,784

3,073

3,069

3,245

2,938

2,582

2,561

1,835

2,298

2,067

1,941

1,641

1,824

2,221

1,918

2,202

1,477

Convertible note receivable received for divestiture of a business

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

18,882

-

-

-

-

-

-

-

-

-

-

-

-

Common stock issued upon conversion of 1% convertible senior notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

58,620

4,942

136,163

30

Common stock returned upon settlement of escrow claims related to prior business acquisitions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

305

0

250

-125