ATHENAHEALTH INC ATHN Cash Flow

Athenahealth inc (ATHN)

CashFlow / TTM

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
125,500	112,100	85,600	53,100	31,300	32,200	20,400	21,000	18,888	10,783	22,032	14,000	15,060	7,634	-3,877	-3,100	1,297	4,098	-6,161	2,594	-4,611	429	17,004	18,732	18,121	17,191	18,223	19,046	21,020	19,566	15,678	12,704	0	0	0
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property, equipment, capitalized software, and purchased intangible assets
150,000	148,000	147,900	147,300	148,000	149,000	147,200	142,700	136,131	129,774	124,459	118,000	110,253	103,225	98,882	93,800	87,595	80,928	73,174	61,853	52,477	42,509	33,006	29,144	26,018	23,836	21,448	19,030	16,984	15,014	13,934	12,956	0	0	0
Amortization of deferred commissions and contract fulfillment costs
0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Provision for uncollectible accounts
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	661	816	1,150	1,122	1,846	1,942	1,818	1,772	0	0	0
Excess tax benefit from stock-based awards
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	14,179	15,308	13,456	14,862	14,208	0	0	0	-	-	-	-
Amortization of premium on investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	1,321	1,392	1,552	1,579	0	0	0	-	-	-	0
Deferred income tax
23,100	16,200	14,300	7,300	-2,600	-6,500	-7,900	-9,900	-9,948	-14,053	-5,281	-8,500	-6,858	-2,669	-11,314	-11,700	-8,143	-7,030	1,096	-7,044	-5,022	-5,956	-13,675	-890	-2,294	-2,569	-3,058	-2,962	1,416	593	997	1,013	0	0	0
Change in fair value of contingent considerations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-5,118	-4,405	1,374	83	40	214	330	440	250	0	0	0
Stock-based compensation expense
50,300	48,700	54,100	54,300	58,300	63,000	65,500	66,500	66,857	64,637	63,426	64,100	64,557	61,998	59,123	55,600	47,909	45,171	41,341	42,648	40,443	38,294	35,261	27,236	26,387	23,969	20,529	18,901	17,054	15,699	15,698	14,477	0	0	0
Other reconciling adjustments
-11,200	-9,800	-9,200	-4,700	0	0	0	-	-	-	-98	-100	215	159	169	100	262	22	-186	-9	-1,626	-1,386	-1,086	-1,092	142	120	-138	-73	203	92	-74	-199	0	0	0
Changes in operating assets and liabilities:
Accounts receivable, net
3,200	13,000	29,000	7,900	12,600	30,500	17,100	13,500	6,459	12,577	28,583	25,300	42,177	28,605	30,542	34,400	5,206	5,358	-4,438	3,399	20,506	18,736	15,816	12,611	6,857	6,614	10,334	12,130	11,651	10,622	10,300	5,319	0	0	0
Contract assets
-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Prepaid expenses and other current assets
20,800	15,700	14,500	12,500	-4,200	4,200	-3,000	-5,100	2,204	-8,587	-3,591	-4,200	-9,356	-56	-1,436	-4,300	-1,253	-5,309	-3,916	-3,283	-3,000	-6,422	-10,683	-12,096	-7,873	-6,407	-10,398	-11,787	-10,140	-12,030	-7,811	-5,461	0	0	0
Deferred commissions and contract fulfillment costs and other long-term assets
-	-	18,200	-	-	-	3,800	4,300	3,810	3,142	2,958	2,700	1,508	-130	-1,603	-600	648	947	1,084	66	-505	-487	-90	-111	-360	-440	-504	-489	-433	354	11	243	0	0	0
Accounts payable
-2,800	9,500	4,300	4,500	-6,400	100	-1,600	-4,800	-611	-5,761	-2,739	2,800	3,041	490	-274	2,500	-2,564	1,474	1,695	-233	5,789	1,655	-1,056	13	-70	1,129	1,618	688	1,754	-371	1,492	-1,024	0	0	0
Accrued expenses, deferred rent, and other long-term liabilities
3,500	-10,000	-4,600	-3,700	-300	4,200	-10,000	-900	5,368	2,248	11,017	8,200	5,945	7,726	13,832	10,100	7,362	10,301	-1,269	-21	3,263	1,360	8,020	3,898	1,745	4,186	1,118	2,832	2,968	2,305	6,933	1,021	0	0	0
Accrued compensation
20,500	20,500	9,600	4,500	4,500	-10,500	11,700	1,000	5,615	13,371	8,427	17,200	20,006	17,077	9,802	26,300	14,205	10,934	7,886	5,775	6,535	7,335	3,666	7,959	0	0	0	-	-	-	0	-	-	-	-
Deferred revenue
5,400	4,600	4,000	100	-1,200	-1,000	-7,000	-11,400	-10,615	-7,994	-814	3,200	7,385	9,038	5,259	3,200	-3,602	-4,066	-3,930	-3,090	2,947	4,093	4,206	2,969	5,292	6,208	8,114	9,987	8,524	7,938	8,684	7,917	0	0	0
Deferred rent
-	-	-	-	-	-	-	400	3,852	4,818	8,101	10,100	10,156	16,200	14,297	12,100	8,960	3,423	-1,380	-2,091	-1,809	-3,433	-327	-239	-906	-700	-3,434	-3,565	-3,663	-3,964	-1,327	-1,275	0	0	0
Net cash provided by operating activities
338,600	315,300	254,700	241,100	207,400	174,400	190,900	182,600	196,881	171,220	159,176	163,800	147,878	159,928	147,958	149,100	141,246	137,305	112,914	93,308	80,236	62,370	65,052	70,213	67,703	68,193	56,402	60,764	58,662	49,649	47,584	44,720	0	0	0
CASH FLOWS FROM INVESTING ACTIVITIES:
Capitalized software costs
88,400	87,200	84,100	82,800	80,700	88,200	93,500	89,500	88,186	81,870	80,108	97,800	89,982	86,012	80,935	53,500	49,035	42,348	35,381	29,123	26,319	22,735	17,617	15,657	13,186	10,626	9,149	7,779	6,706	5,370	4,647	3,881	0	0	0
Purchases of property and equipment
45,200	53,900	71,200	80,100	82,900	86,000	75,200	69,000	75,010	79,207	83,085	87,200	90,059	89,102	93,590	76,100	67,986	50,650	32,582	38,260	26,183	24,848	24,524	23,904	26,416	25,512	25,012	16,696	11,233	12,903	11,163	15,932	0	0	0
Proceeds from sales and disposals of property and equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	363	0	0	0
Proceeds from sales and maturities of investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	56,245	144,151	170,211	191,361	160,340	115,713	127,623	139,253	168,083	157,043	147,125	144,045	110,741	0	0	0
Purchases of investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	118,919	131,980	116,365	142,795	165,657	139,605	165,246	166,518	145,443	0	0	0
Payments on acquisitions, net of cash acquired
-	-	-	-	-	-	-	-	-	-	-	39,900	39,890	39,890	40,165	0	0	0	167,325	410,161	415,959	415,959	248,634	5,798	0	0	0	-	-	-	-	-	-	-	-
Change in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	45	45	-1,163	1,643	-856	-4,200	-3,546	-3,650	-4,526	-1,604	-901	-3,684	-3,503	-3,081	-3,080	-525	0	0	0
Net cash used in investing activities
-140,200	-147,800	-196,400	-204,000	-205,100	-229,900	-185,100	-174,900	-180,552	-152,821	-137,128	-199,100	-193,190	-199,375	-215,196	-127,300	-117,316	-95,293	-236,125	-424,942	-381,684	-377,167	-188,711	-116	-50,076	-50,998	-71,684	-53,247	-32,975	-40,301	-35,202	-53,627	0	0	0
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock under stock plans
18,700	17,700	17,400	16,500	15,500	16,400	15,900	16,200	18,154	22,741	21,613	22,100	19,323	15,714	18,287	21,000	25,717	32,730	31,188	31,133	25,869	20,042	19,686	18,699	19,240	20,444	19,930	14,097	16,992	9,739	7,462	8,606	0	0	0
Taxes paid related to net share settlement of stock awards
16,700	16,900	16,900	17,900	18,000	18,300	18,100	19,600	19,436	19,182	22,090	21,400	21,262	21,098	24,746	28,900	29,284	28,671	24,340	12,075	11,655	10,486	9,622	4,248	0	0	0	-	-	-	-	-	-	-	-
Excess tax benefit from stock-based awards
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	14,179	15,308	13,456	14,862	14,208	0	0	0	-	-	-	-
Proceeds from line of credit
-	-	-	-	-	-	-	-	-	-	-	60,000	60,000	60,000	60,000	0	0	0	50,000	155,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Payments on long-term debt
18,800	17,000	15,100	18,800	15,000	14,900	15,000	7,500	7,550	3,850	170,050	173,800	177,500	181,250	15,000	15,000	15,000	15,000	15,000	11,250	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Other financing activities
-	-	-	-	-	-	-	-	-	-	-	-1,000	0	0	0	-	-	-	-	-	-	-	-	-1,550	-1,925	-1,604	-901	-3,355	0	0	0	-	-	-	-
Net settlement of acquired companys board of directors equity shares
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,806	5,806	5,806	5,806	0	0	0	0	-	-	-	-	-	-	-	-
Debt issuance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,699	1,699	1,592	275	0	0	0	0	-	-	-	-	-	-	-	-
Payment to terminate interest rate derivative contract
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-230	563	10,059	10,965	3,441	3,535	0	0	0
Net cash used in financing activities
-16,700	-16,100	-14,500	-20,100	-9,800	-7,800	-8,300	-2,000	-3,012	11,454	46,373	103,800	103,041	88,521	48,641	-12,800	-26,657	-19,663	126,809	241,688	251,553	256,164	118,887	27,080	28,196	27,869	22,339	14,430	16,669	9,854	12,688	14,121	0	0	0
Effect of exchange rate changes on cash and cash equivalents
-1,000	-500	200	700	200	200	-100	-200	-42	-433	-427	-400	-532	-437	-58	-200	-17	338	-142	-40	-145	-139	88	30	384	-104	-148	-110	-303	223	258	204	0	0	0
Net increase (decrease) in cash and cash equivalents
180,700	150,900	44,000	17,700	-7,300	-63,100	-2,600	5,500	13,275	29,420	67,994	68,100	57,197	48,637	-18,655	8,800	-2,744	22,687	3,456	-89,986	-50,040	-58,772	-4,684	97,207	46,207	44,960	6,909	21,837	42,053	19,425	25,328	5,418	0	0	0
Non-cash transaction
Property, equipment, and purchased and internally-developed software recorded in accounts payable, accrued expenses, and accrued compensation
7,600	10,900	-3,400	10,100	27,100	17,400	30,500	17,500	7,160	9,156	12,443	12,500	6,669	16,439	17,804	12,000	19,042	12,404	4,530	1,667	2,505	4,035	4,323	4,217	10,716	8,294	8,671	8,066	0	0	0	-	-	-	-
Non-cash leasehold improvements
-	-	-	-	-	-	-	-	-	-	-	2,300	4,322	5,508	6,005	5,900	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fair value of equity awards assumed
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	13,028	13,028	13,028	13,028	0	0	0	0	-	-	-	-	-363	0	0	0
Grant from government program to be used to reduce non-income taxes recorded in investments and other assets and other long-term liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Tax benefit recorded in prepaid expenses and other current assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	14,150	14,932	13,110	14,457	13,803	0	0	0	-	-	-	-
Taxes to be paid related to net share settlement of stock units in accrued compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Additional disclosures
Cash received for interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,960	0	0	0	-	-	-	-	-	-	-	-
Cash paid for interest, net
5,600	5,400	5,100	5,100	4,100	4,000	4,400	4,600	6,830	6,635	7,248	5,700	4,856	4,765	3,278	4,500	4,852	4,801	4,351	2,877	0	0	0	-	-	-	-	-	-	0	0	-	0	0	0
Cash paid for taxes
13,100	9,300	4,600	2,600	1,200	400	200	300	661	962	564	600	2,851	2,792	2,797	1,900	-737	-400	557	1,348	1,336	1,102	3,229	3,932	4,413	5,728	3,200	2,708	2,335	1,051	894	1,636	0	0	0