Avid technology, inc. (AVID)
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'11
Cash flows from operating activities:
Net income (loss)

-5,857

15,372

3,165

-10,723

-213

5,903

878

-8,506

-8,949

-881

72

-10,831

-1,915

5,221

9,118

12,940

20,940

-4,385

11,118

-4,084

-169

-5,069

14,240

-3,339

8,896

1,129

2,582

9,177

8,265

162,508

-17,392

-39,248

-12,977

-313

-7,551

-11,144

-4,783

Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:
Depreciation and amortization

2,142

2,165

2,045

4,684

4,740

5,237

5,006

5,225

5,674

5,405

5,401

5,716

5,815

6,310

6,279

6,543

6,347

6,152

5,922

3,963

4,051

4,233

4,369

4,438

4,914

5,797

5,170

5,665

6,135

6,590

4,721

8,610

7,574

8,443

7,819

7,829

7,892

Recovery from doubtful accounts

497

-

-

-

-9

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

34

-19

-50

-108

17

110

66

-36

226

-39

15

-77

1,027

75

315

144

(Recovery) provision for doubtful accounts

-

-

-

-

-

-

-

-100

57

-

56

-104

-110

-

523

48

319

-

30

1

-206

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash provision for restructuring

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-3,491

2,317

2,633

0

68

133

0

125

Gain on sales of assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

125

-

-

-

-

-

-

-

-

Gain on disposal of fixed assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1

254

2

14

2

3

5

Stock-based compensation expense

2,109

2,170

2,045

2,005

1,738

1,927

2,076

1,552

703

2,437

2,481

1,982

1,411

1,800

1,728

2,301

2,087

1,783

2,387

2,883

2,461

8,795

-680

2,136

1,262

1,201

1,531

2,108

2,077

4,358

1,700

2,241

3,133

2,784

3,685

4,017

4,133

Non-cash interest expense

2,820

-911

1,088

2,607

3,359

290

2,548

2,603

3,546

1,696

2,041

2,083

3,131

1,685

2,541

1,516

3,878

1,346

1,337

207

0

0

73

74

73

74

73

74

73

74

147

0

73

73

74

74

80

Unrealized foreign currency transaction losses (gains)

-51

-734

-132

-691

586

202

-127

2,244

-1,323

-451

-2,122

-3,041

-1,722

4,620

-443

1,358

-2,936

1,915

1,055

-2,647

6,690

6,236

177

365

-48

-846

772

128

-44

2,462

-2,059

3,146

-2,298

4,123

2,502

-2,705

-3,785

Provision for (benefit from) deferred taxes

207

5,423

929

-44

1

-107

-1

-7

2

-52

179

372

374

-3,345

3,822

581

784

189

-10

6,519

-5

-75

-10

1

15

-724

3

-6

-3

1,223

0

-451

-372

1,654

0

4

0

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

-13,311

20,419

-5,024

-2,724

-6,444

16,818

3,396

-4,929

-8,596

-923

6,466

-9,329

-14

2,736

-3,374

1,117

-14,800

4,402

2,091

-5,838

-3,097

-1,327

6,737

-9,209

1,541

1,225

22

-911

-11,366

1,436

-15,884

4,540

-16,857

13,658

-5,971

2,497

-5,280

Inventories

3,435

-3,002

-1,937

-223

1,372

845

359

-1,135

482

-2,738

-60

-7,909

-1,573

-4,933

1,732

2,250

3,579

972

4,912

-664

-8,276

-5,977

-721

-3,547

-1,877

-1,548

-1,577

-3,395

-2,501

-3,849

3,972

-13,236

-7,731

-15,112

-3,574

5,285

16,876

Prepaid expenses and other assets

1,631

-3,482

2,431

-2,766

3,861

-2,108

-1,270

-2,850

396

3,609

671

-2,563

5,850

346

-2,501

-67

4,061

-8,228

-988

-3,294

2,510

2,776

187

-2,848

2,015

-3,428

260

-1,599

374

1,040

388

1,342

975

929

-489

-1,841

1,699

Accounts payable

-4,858

4,287

-3,494

643

-810

5,681

41

5,538

-2,112

1,541

1,085

-1,408

2,388

668

-9,254

3,843

-14,216

6,300

4,585

3,787

-3,440

-362

-6,251

1,518

4,148

3,407

1,838

-1,278

-5,383

-864

-2,716

1,845

-5,376

7,257

-9,637

-2,496

107

Accrued expenses, compensation and benefits and other liabilities

-5,323

6,143

-6,929

-3,269

-2,837

3,600

-178

-10,920

-1,355

-8,732

3,962

-1,646

-1,773

-1,896

9,526

-12,950

-960

5,922

-402

-18,989

1,627

-20,600

0

-2,701

17,543

10,280

5,168

1,016

-7,532

-5,651

-2,709

17,398

-12,338

11,507

-8,172

-2,416

-15,242

Income taxes payable

40

-281

378

-267

261

-385

460

-227

190

961

-1,152

827

164

-356

857

-1,603

1,093

-2,309

498

503

267

-1,693

20

-88

671

-849

205

198

-878

592

-2,086

2,936

-766

-611

1,822

-1,427

-541

Deferred revenue and contract assets

-5,264

7,844

-4,474

-7,680

-477

13,409

-12,474

-8,647

-1,423

33

-9,495

-19,028

-2,662

-14,274

-27,128

-41,206

-40,009

-13,650

-28,288

-25,039

-2,139

-101,434

12,592

21,858

15,021

-25,494

-21,669

-26,955

-17,546

-109,523

3,111

-260

13,431

-10,090

4,291

-134

11,544

Net cash provided by (used in) operating activities

-5,605

18,529

-2,551

-2,713

6,376

20,070

-3,747

-5,871

5,370

2,833

31

2,538

3,534

-270

-3,909

-33,807

-11,209

2,061

-9,873

-30,844

4,630

10,933

5,252

-2,090

-23,992

883

-4,472

-4,146

-1,410

3,754

-1,377

13,374

18,958

14,879

69

-8,028

-6,056

Cash flows from investing activities:
Purchases of property and equipment

1,479

1,556

2,053

1,809

1,767

2,396

2,652

2,808

2,080

1,752

3,017

1,379

1,729

1,322

2,360

2,803

4,518

4,220

4,368

3,802

2,940

1,632

5,269

2,876

3,515

2,627

3,708

3,164

2,126

3,044

1,422

1,649

3,588

1,909

2,784

2,533

3,545

Proceeds from divestiture of consumer business

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1,500

0

0

0

0

-

-

-

-

-

-

-

-

Increase in other long-term assets

-

-

-

-

-

-

8

9

8

-

1

16

7

-

5

4

8

-

-275

837

13

-

-40

-31

20

-

7

10

8

-

-352

1,479

-1,318

588

335

-441

617

Proceeds from sale of assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

125

-

-

-

-

-

-

-

-

Decrease (increase) in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

4,544

-591

-1,283

2,330

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-1,479

-1,556

-2,053

-1,809

-1,767

-2,352

-2,660

-2,817

-2,088

-1,764

-3,018

-1,395

-1,736

3,209

-2,365

-2,807

-9,070

-3,097

-2,810

-72,936

-2,953

-1,691

-5,229

-2,845

-2,035

-2,638

-3,715

-3,174

-2,009

-5,144

12,239

-3,128

-2,270

-2,497

-3,119

-2,092

-4,162

Cash flows from financing activities:
Proceeds from long-term debt

22,000

6

-3

79,289

0

-

-

-

-

-

-

-

-

0

0

0

100,000

0

-749

121,150

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of debt

351

325

399

-3,214

3,928

10,643

4,810

-214

3,212

2,985

1,250

1,250

1,250

1,250

1,250

1,250

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments for repurchase of outstanding notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

108

-263

31

51

181

-

-

-

-

-

-

-

-

Proceeds from the issuance of common stock under employee stock plans

0

0

0

0

309

89

10

250

6

226

2

215

2

270

5,629

285

0

1,922

309

2,085

719

251

0

1

0

0

0

1

176

862

80

252

-172

273

404

1,222

127

Common stock repurchases for tax withholdings for net settlement of equity awards

1,818

142

1,549

205

1,690

41

308

152

497

597

235

125

372

138

362

134

307

117

143

506

793

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Partial unwind capped call cash receipt

0

-

0

-49

22

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of common stock under employee stock plans, net

0

0

0

0

309

89

10

250

6

226

2

215

2

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from revolving credit facilities

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

25,000

21,000

20,000

21,500

8,000

5,000

9,000

11,500

0

-

-

-

-

0

13,000

0

1,000

0

0

13,000

8,000

Payments on revolving credit facilities

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

30,000

26,000

10,000

21,500

8,000

13,000

6,000

6,500

0

-

-

-

-

0

13,000

0

1,000

13,000

0

0

8,000

Repayments of Convertible Debt

-

-

-

-

-

-

-

-

20

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments for credit facility issuance costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

49

52

4,919

-

688

-77

582

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments for credit facility issuance costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net cash (used in) provided by financing activities

19,831

-461

-1,951

99

-5,331

-11,653

-3,385

21,297

-3,723

11,726

-571

-1,160

-1,620

-1,139

3,968

-1,151

89,774

-3,197

730

112,681

-656

-8,119

2,823

4,968

-108

-10

-31

-50

-5

194

80

252

-172

-12,727

404

14,222

127

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

-402

284

-612

52

-55

-422

43

-416

15

334

128

437

188

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

12,345

16,796

-7,167

-4,371

-777

5,643

-9,749

12,193

-426

13,129

-3,430

420

366

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Supplemental Cash Flow Information [Abstract]
Effect of exchange rate changes on cash and cash equivalents

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-342

300

433

155

-714

255

-586

1,457

-3,419

772

176

-265

2,347

-1,032

-2,460

227

1,034

-796

310

-452

-1,259

235

529

Net increase (decrease) in cash and cash equivalents

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-2,648

-37,465

69,928

-4,078

-12,667

9,156

435

2,580

-573

805

-25,959

-2,030

-5,871

-8,402

-5,884

-969

11,976

9,702

16,826

-797

-3,905

4,337

-9,562

Cash paid (refunded) for income taxes

391

-1,724

384

354

203

-523

-217

418

-2,469

-563

202

242

19

-91

675

403

600

713

661

598

279

144

708

770

524

530

750

417

476

2,481

3,116

172

785

-

381

520

2,021

Cash paid for interest

4,450

4,482

2,617

3,122

2,041

5,481

3,195

3,910

1,919

3,560

2,956

2,785

1,665

-

2,077

3,337

353

-

511

609

372

-

385

341

300

-

368

300

262

-

-

-

-

-

-

-

-

Non-cash Financing Activities:
Issuance costs for long-term debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-314

363

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-