Arista networks, inc. (ANET)
CashFlow / TTM
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'14
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income

797,269

859,867

769,497

729,126

384,606

328,115

261,626

226,824

484,778

423,201

378,151

295,686

231,905

184,189

169,330

146,763

131,855

121,102

108,215

101,391

99,013

86,850

0

0

0

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

34,695

32,849

34,179

33,100

30,336

27,671

23,725

21,935

21,398

20,640

20,297

20,120

19,909

19,749

18,754

17,087

15,557

13,671

12,379

11,554

10,629

10,021

0

0

0

Stock-based compensation

104,545

101,280

99,464

96,461

94,642

91,202

87,019

83,917

79,839

75,427

71,315

66,279

62,111

59,032

55,686

52,848

49,824

45,303

40,375

36,179

31,676

27,619

0

0

0

Noncash lease expense

16,563

16,179

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes

-74,566

-75,741

2,664

-31,701

-55,073

-57,896

-18,446

-1,340

2,364

8,426

-30,743

-23,359

-17,602

-21,720

-22,646

-29,019

-27,676

-24,409

-21,475

-9,743

-7,214

-6,774

0

0

0

Unrealized Gain (Loss) on Investments

4,277

5,427

727

-3,550

-12,650

-13,800

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization (accretion) of investment premiums (discounts)

3,660

6,771

7,529

6,837

5,399

3,360

1,517

84

-1,092

-1,452

-3,593

-2,631

-1,823

-1,493

1,133

973

984

1,471

0

0

0

-

-

-

-

Provision for bad debts

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Excess tax benefit on stock based-compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

48,976

39,952

27,694

17,436

0

0

0

Amortization of debt discount

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

527

0

0

0

Other

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Changes in operating assets and liabilities:
Accounts receivable, net

74,412

60,210

125,199

75,648

57,392

77,916

102,927

-8,707

-1,723

-5,773

2,368

122,965

73,943

108,856

50,013

24,317

22,062

47,281

75,575

54,022

50,009

18,984

0

0

0

Inventories

-85,832

-20,927

22,279

59,325

69,609

-51,054

-125,243

-118,364

-18,655

69,708

171,030

245,673

202,756

144,361

52,206

17,827

-4,682

14,123

49,847

38,013

18,512

13,425

0

0

0

Prepaid expenses and other current assets

-49,346

-54,259

-131,306

-142,693

-38,353

-21,411

41,179

61,824

-31,128

11,645

37,997

134,475

153,003

115,074

86,525

-10,082

1,562

7,827

25,854

30,383

9,295

15,257

0

0

0

Other assets

1,691

8,112

9,631

8,653

3,837

3,389

-1,700

-2,006

1,189

-907

1,902

-530

-2,402

-2,866

-3,213

-2,036

-948

3,087

5,211

6,922

4,969

4,261

0

0

0

Accounts payable

-5,932

-1,937

-5,539

28,957

16,906

39,337

46,486

-27,806

8,584

-30,104

-42,907

21,476

36,153

38,678

44,692

15,716

-5,150

9,037

8,262

21,040

17,975

14,007

0

0

0

Accrued liabilities

-4,070

16,366

26,862

22,891

14,340

-14,786

3,443

2,363

10,538

43,535

18,891

29,844

30,354

30,629

18,209

12,120

17,888

20,398

29,243

21,330

6,489

18,874

0

0

0

Deferred revenue

38,838

-11,939

-844

35,620

62,463

70,533

-36,722

-89,344

-24,595

142,327

280,309

324,185

277,950

176,126

94,129

65,881

86,396

90,340

113,015

102,760

76,717

47,564

0

0

0

Interest payablerelated party

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Income taxes payable

25,465

23,523

19,385

7,634

-1,550

-112

22,811

21,194

20,476

19,921

22,796

30,177

38,771

42,650

34,534

28,025

29,835

32,018

28,635

25,851

13,253

4,377

0

0

0

Other liabilities

3,839

7,921

8,076

22,647

12,550

17,455

10,602

-3,355

9,515

1,475

7,113

10,708

5,955

8,894

1,819

3,064

2,057

1,171

2,920

-625

1,627

2,105

0

0

0

Interest payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-960

0

0

0

Net cash provided by operating activities

987,784

963,034

931,692

543,470

477,675

503,119

390,964

715,657

664,306

631,627

513,530

274,394

260,029

174,295

262,490

306,407

294,145

237,784

117,193

141,302

134,953

131,875

0

0

0

CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from maturities of marketable securities

1,320,956

1,208,717

987,317

877,545

759,613

547,797

437,848

317,043

232,292

206,332

231,421

249,908

202,343

137,855

0

0

0

-

-

-

-

-

-

-

-

Purchases of marketable securities

1,846,295

1,503,893

1,187,159

1,026,977

1,238,530

1,174,259

1,087,157

1,167,843

791,838

585,373

422,641

260,968

449,584

439,711

342,484

292,938

51,638

0

0

0

0

-

-

-

-

Business acquisitions, net of cash acquired

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of property and equipment

13,621

15,751

19,536

19,398

22,731

23,830

20,733

18,816

16,970

15,279

17,094

18,214

17,432

21,419

22,499

23,960

23,485

19,989

16,319

13,323

15,167

13,134

0

0

0

Change in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

Purchases of intangible assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

Other investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Net cash used in investing activities

-578,330

-284,072

-191,704

-263,651

-606,469

-755,113

-775,682

-876,616

-573,516

-391,320

-205,314

-29,274

-267,173

-325,775

-174,825

-114,534

129,703

184,170

-183,718

-254,296

-252,062

-249,362

0

0

0

CASH FLOWS FROM FINANCING ACTIVITIES:
Principal payments of lease financing obligations

-

-

-

-

-

1,929

1,839

1,765

1,690

1,617

1,546

1,475

1,405

1,336

1,268

1,206

1,145

1,086

1,017

972

915

793

0

0

0

Proceeds from issuance of common stock under equity plans

48,137

57,378

56,193

62,952

62,681

53,658

64,883

57,816

54,930

57,111

51,169

52,081

47,912

35,181

38,521

26,415

28,629

27,201

20,004

17,933

11,481

8,020

0

0

0

Tax withholding paid on behalf of employees for net share settlement

9,090

9,200

9,033

9,077

9,192

8,878

8,482

7,132

4,981

4,025

2,746

1,857

1,680

1,100

0

0

0

-

-

-

-

-

-

-

-

Repurchase of common stock

494,037

266,142

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of common stock, employee stock purchase plan

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

9,366

4,856

4,856

0

0

0

0

Excess tax benefit on stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

48,976

39,952

27,694

17,436

0

0

0

Proceeds from initial public offering, net of issuance cost

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

Issuance costs from initial public offering

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Net cash provided by (used in) financing activities

-454,990

-217,964

-167,994

-47,141

52,016

42,851

54,562

48,919

48,259

51,469

46,877

48,749

44,827

32,745

-5,305

-3,221

12,059

25,854

76,740

58,961

262,945

243,978

0

0

0

Effect of exchange rate changes

-2,533

353

-1,400

-711

-1,181

-1,390

-928

-265

555

753

366

6

-323

-464

-379

-552

-430

-513

-311

-207

-174

-124

0

0

0

NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH

-48,069

461,351

570,594

231,967

-77,959

-210,533

-331,084

-112,305

139,604

292,529

355,459

293,875

37,360

-119,199

81,981

188,100

435,477

447,295

9,904

-54,240

145,662

126,367

0

0

0

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid for income taxes, net of refunds

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6,591

20,980

29,838

37,170

44,770

0

0

0

Cash paid for interest — lease financing obligation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,999

3,018

3,035

3,052

2,809

0

0

0

SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING INFORMATION:
Right-of-use assets recognized upon the adoption of ASC 842

0

93,207

93,207

93,207

93,207

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Right-of-use assets obtained in exchange for new operating lease liabilities

1,914

10,948

10,948

9,130

9,034

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Property and equipment included in accounts payable and accrued liabilities

1,589

2,120

545

2,639

969

2,340

5,822

4,216

5,266

3,811

24

133

882

869

4,354

4,746

4,258

3,957

-1,080

-4

1,443

1,638

0

0

0

Acquisition of building with financing obligation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Unpaid deferred offering costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0