Aspen technology, inc. (AZPN)
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'10
Cash flows from operating activities:
Net income

43,521

38,275

46,284

103,865

61,587

59,216

38,066

38,020

37,835

38,078

34,755

54,351

35,834

37,011

35,000

33,326

33,171

36,683

36,771

30,806

28,169

30,465

28,967

26,678

20,843

23,263

14,999

20,399

10,513

9,937

4,413

-5,388

-520

3,836

-11,736

41,681

-5,687

-10,269

-15,468

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

2,549

2,443

2,036

2,080

2,014

2,049

2,000

-

1,544

1,605

1,753

-

1,693

1,509

1,791

1,542

1,499

1,473

1,547

1,600

1,758

1,506

1,352

1,360

1,376

1,277

1,202

1,115

1,427

1,370

1,317

1,294

1,291

1,281

1,412

1,411

1,325

1,239

1,361

Reduction in the carrying amount of right-of-use assets

3,267

1,364

1,887

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net foreign currency losses

-345

883

-721

1,274

295

-518

200

-

-96

-54

-936

-

-281

1,556

745

5,087

-2,865

255

1,189

-1,163

1,336

719

660

-490

-365

-515

-564

285

363

183

121

-169

434

57

-1,275

-114

633

-531

2,179

Stock-based compensation

7,299

7,559

9,275

6,119

6,254

6,335

8,865

-

5,353

5,455

6,414

-

4,677

4,672

4,958

3,414

4,378

3,512

4,423

3,462

3,456

3,462

4,204

2,954

3,564

3,151

4,387

3,342

3,527

3,453

4,315

2,802

2,825

3,071

3,708

2,301

2,356

2,345

2,697

Deferred income taxes

-372

172

-182

23,008

-2,373

-2,804

-44,670

-1,274

171

4,329

-33

-5,455

987

228

-46

1,804

828

-133

0

-1,205

-456

6,213

15,560

8,769

9,036

8,173

8,618

-10,541

5,810

5,636

4,222

-1,162

-1,355

3,044

-5,354

-64,308

-30

28

46

Provision for bad debts

2,127

282

982

171

-353

793

34

-

1,401

-48

20

-

169

63

-7

86

-2

150

26

-42

-809

1,667

-1,329

1,042

-54

785

20

458

-131

65

97

-82

507

-553

150

-1,828

-1,024

-620

717

Tax benefits from stock-based compensation

-

-

-

-

-

-

-

-

0

0

0

-

1,312

448

584

330

47

254

1,577

15,181

14,159

7,756

-72

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefits from stock-based compensation

-

-

-

-

-

-

-

-

0

0

0

-

1,312

448

584

330

47

254

1,577

15,181

14,159

7,612

72

590

54

42

41

478

0

0

0

-

-

-

-

-

-

-

-

Other non-cash operating activities

-208

-108

-107

-88

-124

-110

-107

-

-107

-207

0

-

-390

50

-90

-64

14

-112

-159

-218

-619

-320

-462

-489

-462

-823

-73

-453

-337

-25

-3

2,181

-473

0

-13

-26

-12

-415

0

Changes in assets and liabilities:
Accounts receivable

11,889

2,594

1,945

2,443

-12,281

4,070

12,394

3,363

4,620

-4,160

504

-7,464

17,438

-3,849

1,355

-869

7,207

-6,951

-8,769

2,869

7,622

-3,529

-14,990

8,896

758

-5,323

-1,152

8,489

-10,352

16,852

-8,895

3,894

-7,677

13,662

-5,594

-665

-2,307

2,232

-5,241

Contract assets

-30,777

-2,919

25,440

31,925

-14,531

11,014

30,914

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Contract costs

692

485

345

657

1,279

1,750

796

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Lease liabilities

3,444

1,464

1,932

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Unbilled services

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-463

-527

366

504

-977

-194

-265

1,251

-568

-38

463

708

-1,294

-611

642

465

-917

287

Prepaid expenses, prepaid income taxes, and other assets

433

-324

2,092

2,612

1,543

-2,599

855

-

-3,949

1,333

-2,292

-

13

-1,776

-1,885

9,552

-1,453

-1,181

-812

1,837

-3,155

-1,672

-1,242

3,380

-2,791

-666

-870

1,061

1,017

-1,462

-4,443

3,848

838

419

-1,187

4,468

2,450

-1,354

-4,791

Installment receivables

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-727

-253

-1,674

-3,588

-5,316

-3,029

-7,054

-7,264

-14,071

-11,030

-14,493

-15,782

-18,399

-8,329

-17,556

-25,057

-18,238

-11,901

Accounts payable, accrued expenses, income taxes payable and other liabilities

2,353

-10,364

-12,741

-11,059

-4,738

2,794

34,924

-

-2,656

-8,556

6,764

-

1,863

-7,436

12,520

1,094

-2,276

-5,655

2,348

7,131

4,056

2,707

-7,961

2,154

4,403

3,826

-9,477

5,761

-2,683

4,750

-13,253

7,626

-617

-1,694

-6,898

11,555

-9,717

1,842

-16,438

Deferred revenue

5,765

9,291

-1,355

-184

3,829

2,751

11,403

25,399

29,887

-1,549

-40,037

32,039

27,178

-12,899

-27,841

17,289

35,028

-23,293

-35,220

15,141

35,622

-18,180

-17,664

25,274

24,521

-7,793

323

15,467

24,699

11,377

-6,938

12,301

30,607

8,467

6,982

6,369

20,034

1,037

14,006

Net cash provided by operating activities

81,381

46,947

15,260

85,177

90,039

57,527

5,570

79,107

73,067

42,402

12,360

73,348

55,621

27,167

26,250

44,849

69,723

20,726

18,446

53,568

64,642

33,832

39,943

58,242

69,633

46,343

25,913

33,938

58,484

35,679

18,461

21,667

54,690

23,007

5,273

10,432

31,685

14,825

6,388

Cash flows from investing activities:
Purchases of marketable securities

-

-

-

-

-

-

-

-

0

0

0

-

0

490,000

193,748

0

0

0

0

0

11,017

27,063

11,985

32,814

16,550

11,018

7,974

21,884

75,713

0

0

-

-

-

-

-

-

-

-

Maturities of marketable securities

-

-

-

-

-

-

-

-

0

0

0

-

55,837

560,195

53,184

6,008

20,916

21,679

10,370

18,612

27,911

24,499

14,513

26,903

20,938

7,886

4,538

4,549

0

0

0

-

-

-

-

-

-

-

-

Purchases of property, equipment and leasehold improvements

143

368

600

230

26

84

96

-

61

33

123

-

777

476

898

953

749

662

1,119

1,731

1,586

1,437

2,891

1,381

906

809

915

1,489

451

767

1,800

3,066

253

536

386

517

446

1,288

588

Payments for business acquisitions, net of cash acquired

241

0

74,219

6,098

0

0

0

-

22,900

10,800

0

-

0

30,771

5,400

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments for capitalized computer software costs

71

61

9

37

905

99

90

-

-57

291

65

-

26

49

51

269

0

0

0

44

178

1

136

84

97

285

219

563

158

435

0

24

95

192

200

323

1,287

204

176

Net cash used in investing activities

-774

-429

-74,828

-6,365

-931

-183

-186

-

-22,904

-11,124

-188

-

55,034

38,899

-146,913

251,853

-234,900

21,017

9,251

16,837

15,130

-4,002

-499

-7,376

2,985

-4,226

-4,570

-19,387

-76,697

-1,202

-105

-3,090

-2,965

-728

-586

-840

-1,733

-1,492

-764

Cash flows from financing activities:
Issuance of shares of common stock

2,650

1,696

1,018

4,983

1,415

412

4,054

-

3,854

1,137

2,411

-

3,049

1,754

3,089

1,062

417

1,834

611

2,616

531

465

1,050

1,235

3,045

1,497

2,933

5,713

6,310

5,072

4,048

2,332

2,475

1,874

2,232

1,999

4,284

3,283

137

Proceeds from secured borrowings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

3,574

1,408

0

0

576

1,924

Repayments of secured borrowings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

5,616

5,394

22,622

1,850

18,188

2,232

5,387

10,423

6,900

9,341

Repurchases of common stock

49,757

50,016

50,848

75,032

76,759

97,446

49,977

-

49,328

49,928

55,109

-

96,058

47,963

151,621

75,476

46,338

1,757

55,033

74,368

106,973

70,905

45,000

32,857

30,000

30,000

28,919

25,426

22,399

19,689

17,163

13,986

11,879

11,068

9,172

6,368

2,921

1,242

0

Payments of tax withholding obligations related to restricted stock

2,395

2,685

3,166

2,561

2,262

6,475

3,179

-

1,945

1,817

1,650

-

1,560

1,489

1,297

1,076

1,216

1,063

1,125

1,825

1,300

1,163

1,411

1,896

1,698

1,788

2,449

1,947

1,470

2,312

1,976

1,472

1,356

582

1,187

1,152

1,733

204

796

Insurance proceeds

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

2,222

0

0

0

0

-

-

-

-

Purchase of technology intangibles

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

375

0

527

0

0

0

0

-

-

-

-

Deferred business acquisition payments

-

-

-

-

-

-

-

-

0

2,000

600

-

0

0

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefits from stock-based compensation

-

-

-

-

-

-

-

-

0

0

0

-

1,312

448

584

330

47

254

1,577

15,181

14,159

7,612

72

590

54

42

41

478

0

0

0

-

-

-

-

-

-

-

-

Proceeds from borrowings

86,000

29,163

100,000

0

0

50,000

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments of debt issuance costs

-

-

-

-

-

-

-

-

0

0

351

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) financing activities

31,819

-25,296

47,004

-72,610

-78,106

-54,709

-49,102

-

-28,419

-41,608

-55,299

-

-93,257

-47,250

-149,245

-75,280

91,323

-732

-53,970

-58,396

-93,583

-63,991

-45,289

-32,928

-28,599

-30,249

-28,394

-21,182

-17,559

-22,545

-20,485

-35,748

-12,610

-24,390

-8,951

-10,908

-10,795

-4,485

-8,076

Effect of exchange rate changes on cash and cash equivalents

-740

631

-729

132

162

-255

-399

-

628

50

156

-

128

-167

-51

4

141

-127

-237

278

-670

-530

-547

105

-13

5

223

21

-410

-71

250

-151

194

10

-365

263

239

-367

668

Increase (decrease) in cash and cash equivalents

111,686

21,853

-13,293

6,334

11,164

2,380

-44,117

-

22,372

-10,280

-42,971

-

17,526

18,649

-269,959

221,426

-73,713

40,884

-26,510

12,287

-14,481

-34,691

-6,392

18,043

44,006

11,873

-6,828

-6,610

-36,182

11,861

-1,879

-17,322

39,309

-2,101

-4,629

-1,053

19,396

8,481

-1,784

Supplemental disclosure of non-cash activities:
Change in purchases of property, equipment and leasehold improvements included in accounts payable and accrued expenses

7

-256

160

94

5

16

-11

-

13

26

-70

-

-395

0

506

49

-579

336

-631

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in repurchases of common stock included in accounts payable and accrued expenses

243

-16

-848

-32

-1,759

2,554

23

-

672

72

-5,109

-

3,942

2,037

-1,621

-476

3,662

-1,757

33

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Lease liabilities arising from obtaining right-of-use assets

6,802

1,552

3,272

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Supplemental disclosure of cash flow information:
Income taxes paid, net

6,611

9,464

10,284

14,030

21,296

15,072

2,755

-

8,920

28,499

1,243

-

16,742

23,761

1,239

17,416

17,115

31,602

2,895

779

312

1,070

1,551

1,440

672

3,715

1,330

1,953

880

778

1,034

1,108

1,261

-293

631

876

1,973

1,535

-6,496

Interest paid

3,054

2,391

2,801

2,393

2,187

2,003

1,538

-

1,417

1,071

968

-

920

729

850

619

330

13

1

-

-

-

3

-

-

-

18

39

12

116

257

1,488

611

1,015

1,092

1,061

1,344

1,490

1,581