Align technology inc (ALGN)
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

1,518,131

121,262

102,524

147,142

71,848

97,392

100,872

106,105

95,866

10,264

82,555

69,179

69,420

47,621

51,367

50,148

40,546

48,877

27,616

31,350

36,177

39,541

38,247

35,600

32,444

42,421

34,537

29,320

-41,983

9,559

-344

28,492

20,984

20,449

19,264

11,162

15,841

9,905

16,815

32,603

14,930

Adjustments to reconcile net income to net cash provided by operating activities:
Deferred taxes

-1,487,154

-1,163

-4,136

-1,980

7,586

-17,727

-1,620

-402

4,069

23,053

-11,626

-1,644

7,789

1,075

-8,868

-2,495

-6,113

-6,778

1,264

-1,422

-4,488

-16,782

3,374

4,727

12,769

-20,400

8,229

5,341

931

4,618

3,937

4,502

4,726

-7,664

5,601

3,922

3,983

-324

267

12,389

4,975

Depreciation and amortization

20,738

21,796

11,025

27,853

18,316

16,542

14,119

12,632

11,434

11,024

9,972

8,876

7,867

7,216

6,901

5,093

4,792

4,863

4,503

4,330

4,308

4,387

4,339

4,354

4,776

4,178

3,858

3,845

4,944

5,267

6,639

3,152

2,753

3,013

2,990

3,130

2,979

2,692

2,739

3,011

2,944

Non-cash operating lease cost

5,546

-

-

-

4,362

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Impairment of goodwill

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

40,693

11,926

24,665

0

0

-

-

-

-

-

-

-

-

Impairments on equity investments

0

0

0

0

28,498

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Impairments on long-lived assets

2,900

-

0

0

4,000

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

26,320

-

0

0

0

-

-

-

-

-

-

-

-

Share-based Compensation

22,927

20,497

24,176

22,467

21,044

18,845

19,198

16,890

15,830

14,830

14,967

14,245

14,812

14,214

13,711

13,699

12,524

13,808

14,661

12,826

11,648

10,475

9,910

10,306

9,132

5,173

7,590

7,265

6,410

5,979

5,362

5,279

4,863

4,959

4,954

4,973

4,279

3,934

4,414

4,251

3,473

Net tax benefits from stock-based awards

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,246

2,591

7,220

-

2,456

1,428

4,779

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net tax benefits from stock-based awards

-

-

-

-

-

-

-

-

-

-

-

-

-

-29,831

3,246

2,615

8,082

-18,887

2,456

1,428

4,779

-40,280

2,726

2,593

13,568

5,254

6,518

7,592

7,739

-

1,395

8,702

8,043

-

-

-

-

-

-

-

-

Amortization of intangibles

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,100

1,146

1,357

1,833

1,475

700

700

700

700

700

Amortization of prepaid royalties

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

827

Equity in losses of investee

0

0

0

-3,584

-3,944

-2,083

-1,132

-3,701

-1,777

1,731

-1,614

-2,215

-1,121

-1,207

-477

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Provision for Doubtful Accounts

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,350

429

-119

-

-

77

-162

-

-160

-50

200

Other non-cash operating activities

-12,566

-12,434

-4,638

-7,687

-5,101

-5,889

-6,820

-4,069

-474

-4,415

-3,595

-3,758

-2,079

-2,506

-2,484

-3,287

-3,754

-4,547

-3,090

-3,548

-2,614

-2,738

-2,273

-3,118

-1,977

-2,942

-811

-833

444

-4,437

-6

-22

-52

-

-

-

-

-

-

-

-

Changes in assets and liabilities:
Accounts receivable

-13,761

25,448

6,511

46,312

42,743

19,381

45,577

8,240

36,026

6,553

32,399

27,513

24,525

2,686

54,689

17,594

20,839

13,652

4,219

10,671

12,233

2,299

3,523

7,468

13,939

6,045

-3,114

-952

10,002

-5,686

5,539

9,415

2,398

8,061

5,297

3,472

7,317

2,222

-164

5,269

4,857

Inventories

10,496

17,494

14,094

13,401

13,280

6,917

1,606

11,584

4,002

-5,228

2,093

693

7,923

790

3,349

369

3,155

530

2,523

1,844

-1,334

-34

2,888

-2,725

1,870

-691

-1,048

261

320

-17

514

1,191

4,030

1,083

2,015

648

312

165

-119

143

319

Prepaid expenses and other assets

37,244

16,703

-34,123

13,916

35,033

-38,653

38,409

-6,507

15,873

2,821

6,236

-915

527

4,321

44

4,407

618

1,197

-2,257

-5,741

10,527

575

-457

1,016

1,790

648

-490

-352

586

2,233

-350

440

1,530

3,203

-1,558

1,243

-207

-1,874

-619

2,967

738

Accounts payable

-12,034

20,756

-504

377

1,470

20,003

-5,701

5,144

5,599

3,955

-190

-1,112

5,522

739

619

-5,200

447

3,167

-494

3,031

1,871

-901

3,797

-274

265

132

-368

-1,561

1,611

3,882

-1,934

1,687

-3,641

3,787

3,913

469

-634

2,599

22

262

-271

Accrued and other long-term liabilities

-69,103

29,151

29,768

6,504

-5,183

61,686

28,006

-17,976

-35,466

5,483

33,554

26,089

-40,891

-7,598

34,523

18,990

-14,544

5,820

-1,547

9,337

-1,078

10,290

11,059

16,629

-15,286

10,333

-3,969

11,239

-7,941

3,612

3,258

5,264

-9,191

31,601

3,734

7,085

-5,315

13,445

6,990

7,197

-7,927

Long-term income tax payable

6,354

1,186

3,817

4,800

4,808

-18,113

-20,045

-3,649

5,259

68,715

794

-1,740

1,189

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred revenues

22,892

51,003

42,898

52,680

42,494

42,340

39,076

26,592

28,391

26,464

23,618

17,892

11,688

14,174

16,695

15,039

14,748

13,672

15,449

6,714

6,019

5,810

3,252

3,622

3,083

6,486

6,316

3,575

-1,476

-285

5,670

5,195

1,809

5,498

5,061

2,776

2,999

3,846

2,725

-9,499

5,108

Net cash provided by operating activities

9,784

218,177

234,532

177,354

117,207

241,295

96,265

139,789

77,332

162,326

118,125

110,467

47,621

80,980

59,827

76,167

30,680

79,355

60,057

62,940

35,645

71,605

67,571

69,730

17,993

67,112

55,138

53,308

10,418

50,758

40,265

35,374

7,381

47,978

35,547

29,696

17,248

32,525

35,763

42,596

18,645

CASH FLOWS FROM INVESTING ACTIVITIES:
Restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-2,845

-3

-

0

-7,991

7,991

-

-

-

-

Purchase of property, plant and equipment

46,085

42,550

26,559

45,337

35,261

54,279

53,738

57,717

57,578

69,545

48,105

18,476

59,569

14,208

17,343

18,818

20,207

16,788

10,491

10,560

15,612

7,135

6,997

4,964

4,996

4,240

5,783

3,781

5,608

6,848

5,707

13,219

12,559

9,375

12,507

5,697

2,825

6,099

3,083

4,319

4,530

Purchase of marketable securities

5,341

104,479

234,810

228,172

125,823

30,169

71,617

78,405

0

33,316

144,702

42,449

169,777

121,815

42,433

97,438

143,926

140,154

111,539

81,891

113,508

86,541

118,433

74,259

157,919

89,927

63,184

147,524

3,282

13,649

10,005

15,667

28,190

-

-

-

-

-

-

-

-

Proceeds from maturities of marketable securities

42,641

78,925

104,808

26,715

80,306

115,235

52,395

80,650

126,825

88,753

87,393

86,091

87,003

59,375

117,805

82,169

128,524

65,713

89,727

61,777

86,908

52,709

32,096

38,868

53,137

58,688

14,112

13,751

4,366

8,834

6,065

7,251

2,751

73

1,983

3,092

3,767

-

-

-

-

Proceeds from sales of marketable securities

278,817

0

180,221

5,729

8,727

0

0

0

9,560

7,245

-61

20,668

11,684

6,817

185,078

23,931

293

17,493

0

7,013

5,505

10,714

39,593

22,119

10,564

24,798

1,900

5,043

0

-

-

-

-

-

-

-

-

-

-

-

4,988

Repayment on unsecured promissory note

4,419

8,635

6,587

6,598

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loan advances to equity investee

-

-

-

-

-

-

-

-

-

13,000

8,000

7,000

8,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loan repayment from equity investee

-

-

-

-

-

0

0

0

30,000

0

6,000

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition, net of cash acquired

-

-

-

-

-

-

-

-

-

0

0

0

8,953

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other investing activities

-1,760

642

-440

12,135

2,367

-161

64

-206

-462

-170

-173

2,090

850

0

2,000

6,031

0

0

0

0

-46

1

49

0

133

64

3,262

164

-1,079

-10

-2,461

125

0

3,741

596

-583

177

-1,211

1,184

-74

246

Net cash provided by (used in) investing activities

276,211

-60,111

30,687

-246,602

-74,418

30,948

-78,024

-55,266

109,269

-19,693

-120,066

36,744

-148,462

-69,831

194,362

-16,187

-35,316

-73,736

-32,303

-23,661

-36,661

-30,254

-53,790

-18,236

-99,347

-10,745

-56,217

-140,327

-3,445

-12,652

-8,738

-18,915

-37,995

-12,309

-11,091

-180,980

-7,226

-7,364

-10,515

1,747

212

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock

10,662

0

8,293

5

9,609

28

8,022

565

8,020

611

6,329

233

7,288

901

5,875

1,618

5,384

766

4,523

1,484

4,552

655

4,751

676

11,946

5,905

7,163

7,860

13,268

2,133

16,505

13,509

10,180

5,619

3,334

11,480

5,068

915

3,694

1,197

6,016

Common stock repurchases

0

100,495

200,000

49,504

50,000

50,000

150,002

0

100,000

50,000

15,000

35,000

3,793

38,044

23,174

35,000

0

11,188

39,822

49,000

1,781

20,816

28,417

49,000

0

2

-3

92,670

2,438

37,407

7,272

0

2,524

-

-

-

-

-

-

-

-

Excess tax benefit from share-based payment arrangements

-

-

-

-

-

-

-

-

-

-

-

-

-

2,830

3,246

2,615

8,082

1,733

2,456

1,428

4,779

2,506

2,726

2,593

13,568

5,254

6,518

7,592

7,739

-953

1,395

8,702

8,043

-

-

-

-

-

-

-

-

Payroll taxes paid upon the vesting of equity awards

45,395

1,907

3,075

2,537

50,181

4,344

2,426

31,488

47,842

7,107

1,125

1,472

36,496

3,592

3,058

635

22,572

3,142

2,185

742

14,647

1,847

1,111

197

4,453

432

697

93

3,141

387

92

219

1,408

416

61

101

1,319

191

40

1,604

-755

Proceeds from (Payments for) Other Financing Activities

0

-

-

-

-2,190

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7

-8

-5

-

0

0

0

-

-

-

-

-

-

-

-

Net cash used in financing activities

-34,733

-102,377

-194,782

-95,619

-92,762

-54,283

-144,406

-30,923

-139,822

-56,464

5,204

-51,239

-33,001

-37,905

-2,111

-46,402

-9,106

-11,831

-14,028

-67,830

-7,097

-19,502

-1,051

-66,928

21,061

10,731

12,994

-77,319

15,423

-36,614

10,536

21,992

14,291

2,852

9,261

11,379

3,749

4,689

3,654

1,103

5,261

Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash

-11,007

4,380

-3,565

378

1,089

-1,843

-967

-3,638

1,715

738

1,166

1,210

2,430

-3,694

164

-290

446

-114

-1,439

326

-1,780

-2,654

475

139

106

16

-573

90

-37

-13

45

-13

9

-75

-95

-96

173

-110

221

-52

-198

Net increase (decrease) in cash, cash equivalents, and restricted cash

240,255

60,069

66,872

-164,489

-48,884

216,117

-127,132

49,962

48,494

86,907

4,429

97,182

-131,412

-30,450

252,242

13,288

-13,296

-6,326

12,287

-28,225

-9,893

19,195

13,205

-15,295

-60,187

67,114

11,342

-164,248

22,359

1,479

42,108

38,438

-16,314

38,446

33,622

-140,001

13,944

29,740

29,123

45,394

23,920

SUPPLEMENTAL CASH FLOW INFORMATION:
Accounts payable or accrued liabilities related to property, plant and equipment

-

-

-

-

-

-

-

-

-

-

1,701

12,629

7,662

-

-300

-833

10,842

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-