Avid technology, inc. (AVID)
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'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11
Cash flows from operating activities:
Net income (loss)

1,957

7,601

-1,868

-4,155

-1,938

-10,674

-17,458

-18,264

-20,589

-13,555

-7,453

1,593

25,364

48,219

38,613

40,613

23,589

2,480

1,796

4,918

5,663

14,728

20,926

9,268

21,784

21,153

182,532

162,558

114,133

92,891

-69,930

-60,089

-31,985

-23,791

0

0

0

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

11,036

13,634

16,706

19,667

20,208

21,142

21,310

21,705

22,196

22,337

23,242

24,120

24,947

25,479

25,321

24,964

22,384

20,088

18,169

16,616

17,091

17,954

19,518

20,319

21,546

22,767

23,560

23,111

26,056

27,495

29,348

32,446

31,665

31,983

0

0

0

Recovery from doubtful accounts

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-143

-160

-31

85

157

366

217

166

125

926

1,040

1,340

1,561

0

0

0

(Recovery) provision for doubtful accounts

-

-

-

-

-

-

-

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash provision for restructuring

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,459

5,018

2,834

201

326

0

0

0

Gain on sales of assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

125

0

0

0

-

-

-

-

-

-

-

-

Gain on disposal of fixed assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

271

272

21

24

0

0

0

Stock-based compensation expense

8,329

7,958

7,715

7,746

7,293

6,258

6,768

7,173

7,603

8,311

7,674

6,921

7,240

7,916

7,899

8,558

9,140

9,514

16,526

13,459

12,712

11,513

3,919

6,130

6,102

6,917

10,074

10,243

10,376

11,432

9,858

11,843

13,619

14,619

0

0

0

Non-cash interest expense

5,604

6,143

7,344

8,804

8,800

8,987

10,393

9,886

9,366

8,951

8,940

9,440

8,873

9,620

9,281

8,077

6,768

2,890

1,544

280

147

220

294

294

294

294

294

368

294

294

293

220

294

301

0

0

0

Unrealized foreign currency transaction losses (gains)

-1,608

-971

-35

-30

2,905

996

343

-1,652

-6,937

-7,336

-2,265

-586

3,813

2,599

-106

1,392

-2,613

7,013

11,334

10,456

13,468

6,730

-352

243

6

10

3,318

487

3,505

1,251

2,912

7,473

1,622

135

0

0

0

Provision for (benefit from) deferred taxes

6,515

6,309

779

-151

-114

-113

-58

122

501

873

-2,420

1,223

1,432

1,842

5,376

1,544

7,482

6,693

6,429

6,429

-89

-69

-718

-705

-712

-730

1,217

1,214

769

400

831

831

1,286

1,658

0

0

0

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

-640

6,227

2,626

11,046

8,841

6,689

-11,052

-7,982

-12,382

-3,800

-141

-9,981

465

-14,321

-12,655

-7,190

-14,145

-2,442

-8,171

-3,525

-6,896

-2,258

294

-6,421

1,877

-11,030

-10,819

-26,725

-21,274

-26,765

-14,543

-4,630

-6,673

4,904

0

0

0

Inventories

-1,727

-3,790

57

2,353

1,441

551

-3,032

-3,451

-10,225

-12,280

-14,475

-12,683

-2,524

2,628

8,533

11,713

8,799

-3,056

-10,005

-15,638

-18,521

-12,122

-7,693

-8,549

-8,397

-9,021

-11,322

-5,773

-15,614

-20,844

-32,107

-39,653

-21,132

3,475

0

0

0

Prepaid expenses and other assets

-2,186

44

1,418

-2,283

-2,367

-5,832

-115

1,826

2,113

7,567

4,304

1,132

3,628

1,839

-6,735

-5,222

-8,449

-10,000

1,004

2,179

2,625

2,130

-4,074

-4,001

-2,752

-4,393

75

203

3,144

3,745

3,634

2,757

-426

298

0

0

0

Accounts payable

-3,422

626

2,020

5,555

10,450

9,148

5,008

6,052

-894

3,606

2,733

-7,606

-2,355

-18,959

-13,327

512

456

11,232

4,570

-6,266

-8,535

-947

2,822

10,911

8,115

-1,416

-5,687

-10,241

-7,118

-7,111

1,010

-5,911

-10,252

-4,769

0

0

0

Accrued expenses, compensation and benefits and other liabilities

-9,378

-6,892

-9,435

-2,684

-10,335

-8,853

-21,185

-17,045

-7,771

-8,189

-1,353

4,211

-7,093

-6,280

1,538

-8,390

-14,429

-11,842

-38,364

-37,962

-21,674

-5,758

25,122

30,290

34,007

8,932

-6,999

-14,876

1,506

-3,300

13,858

8,395

-11,419

-14,323

0

0

0

Income taxes payable

-130

91

-13

69

109

38

1,384

-228

826

800

-517

1,492

-938

-9

-1,962

-2,321

-215

-1,041

-425

-903

-1,494

-1,090

-246

-61

225

-1,324

117

-2,174

564

676

-527

3,381

-982

-757

0

0

0

Deferred revenue and contract assets

-9,574

-4,787

778

-7,222

-8,189

-9,135

-22,511

-19,532

-29,913

-31,152

-45,459

-63,092

-85,270

-122,617

-121,993

-123,153

-106,986

-69,116

-156,900

-116,020

-69,123

-51,963

23,977

-10,284

-59,097

-91,664

-175,693

-150,913

-124,218

-93,241

6,192

7,372

7,498

5,611

0

0

0

Net cash provided by (used in) operating activities

7,660

19,641

21,182

19,986

16,828

15,822

-1,415

2,363

10,772

8,936

5,833

1,893

-34,452

-49,195

-46,864

-52,828

-49,865

-34,026

-25,154

-10,029

18,725

-9,897

-19,947

-29,671

-31,727

-9,145

-6,274

-3,179

14,341

34,709

45,834

47,280

25,878

864

0

0

0

Cash flows from investing activities:
Purchases of property and equipment

6,897

7,185

8,025

8,624

9,623

9,936

9,292

9,657

8,228

7,877

7,447

6,790

8,214

11,003

13,901

15,909

16,908

15,330

12,742

13,643

12,717

13,292

14,287

12,726

13,014

11,625

12,042

9,756

8,241

9,703

8,568

9,930

10,814

10,771

0

0

0

Proceeds from divestiture of consumer business

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,500

1,500

1,500

1,500

0

0

0

0

-

-

-

-

-

-

-

-

Increase in other long-term assets

-

-

-

-

-

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

397

1,084

-836

1,099

0

0

0

Proceeds from sale of assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

125

0

0

0

-

-

-

-

-

-

-

-

Decrease (increase) in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,953

2,670

5,000

456

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-6,897

-7,185

-7,981

-8,588

-9,596

-9,917

-9,329

-9,687

-8,265

-7,913

-2,940

-2,287

-3,699

-11,033

-17,339

-17,784

-87,913

-81,796

-80,390

-82,809

-12,718

-11,800

-12,747

-11,233

-11,562

-11,536

-14,042

1,912

1,958

1,697

4,344

-11,014

-9,978

-11,870

0

0

0

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

101,292

79,292

0

0

0

-

-

-

-

-

-

-

-

100,000

100,000

99,251

220,401

120,401

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of debt

-2,139

1,438

11,756

16,167

19,167

18,451

10,793

7,233

8,697

6,735

5,000

5,000

5,000

3,750

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments for repurchase of outstanding notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-73

0

0

0

0

-

-

-

-

-

-

-

-

Proceeds from the issuance of common stock under employee stock plans

0

309

398

408

658

355

492

484

449

445

489

6,116

6,186

6,184

7,836

2,516

4,316

5,035

3,364

3,055

971

252

1

1

1

177

1,039

1,119

1,370

1,022

433

757

1,727

2,026

0

0

0

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

3,714

3,586

3,485

2,244

2,191

998

1,554

1,481

1,454

1,329

870

997

1,006

941

920

701

1,073

1,559

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Partial unwind capped call cash receipt

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

0

309

398

408

658

355

492

484

449

445

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from revolving credit facilities

-

-

-

-

-

-

-

-

-

-

-

-

-

25,000

46,000

66,000

87,500

70,500

54,500

43,500

33,500

25,500

0

0

0

-

-

-

-

14,000

14,000

1,000

14,000

21,000

0

0

0

Payments on revolving credit facilities

-

-

-

-

-

-

-

-

-

-

-

-

-

30,000

56,000

66,000

87,500

65,500

52,500

48,500

33,500

25,500

0

0

0

-

-

-

-

14,000

27,000

14,000

14,000

21,000

0

0

0

Repayments of Convertible Debt

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments for credit facility issuance costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments for credit facility issuance costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net cash (used in) provided by financing activities

17,518

-7,644

-18,836

-20,270

928

2,536

25,915

28,729

6,272

8,375

-4,490

49

58

91,452

89,394

86,156

199,988

109,558

104,636

106,729

-984

-436

7,673

4,819

-199

-96

108

219

521

354

-12,567

-12,243

1,727

2,026

0

0

0

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

-678

-331

-1,037

-382

-850

-780

-24

61

914

1,087

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

17,603

4,481

-6,672

-9,254

7,310

7,661

15,147

21,466

9,693

10,485

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

546

174

129

-890

412

-2,293

-1,776

-1,014

-2,736

3,030

1,226

-1,410

-918

-2,231

-1,995

775

96

-2,197

-1,166

-947

0

0

0

Net increase (decrease) in cash and cash equivalents

-

-

-

-

-

-

-

-

-

-

-

-

-

-

25,737

15,718

62,339

-7,154

-496

11,598

3,247

-23,147

-27,757

-33,055

-42,262

-22,187

-21,126

-3,279

14,825

37,535

37,707

21,826

16,461

-9,927

0

0

0

Cash paid (refunded) for income taxes

-595

-783

418

-183

-119

-2,791

-2,831

-2,412

-2,588

-100

372

845

1,006

1,587

2,391

2,377

2,572

2,251

1,682

1,729

1,901

2,146

2,532

2,574

2,221

2,173

4,124

6,490

6,245

6,554

0

0

0

-

0

0

0

Cash paid for interest

14,671

12,262

13,261

13,839

14,627

14,505

12,584

12,345

11,220

10,966

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-