Blackbaud, Inc. BLKB Cash Flow

Blackbaud, inc. (BLKB)

CashFlow / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09	Dec'08
Cash flows from operating activities
Net income (loss)
11,908	44,841	73,633	45,404	25,649	28,290	30,472	6,583	33,220	29,187	27,520	29,878
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization
85,693	79,566	73,948	70,491	55,997	45,417	43,164	32,241	16,995	16,189	15,624	12,865
Provision for doubtful accounts and sales returns
8,725	6,890	11,686	3,730	6,825	5,248	5,403	9,591	5,646	2,773	3,458	4,179
Stock-based compensation expense
58,633	48,274	40,631	32,638	25,246	17,345	16,910	19,240	14,884	13,059	12,410	12,085
Excess tax benefits from exercise and vesting of stock-based compensation
-	-	-	-	-	-	0	81	932	2,665	2,356	1,497
Deferred taxes
-3,600	-619	-17,814	5,415	3,165	3,050	13,873	7,585	13,533	11,313	12,464	6,407
Loss on sale of business
-	-	-	-	-1,976	0	0	-	-	-	-	-
Impairment of capitalized software development costs
-	-	-	-	239	1,626	0	0	-	-	-	-
Loss on debt extinguishment and termination of derivative instruments
-	-	-	-	-	-996	0	0	-	-	-	-
Amortization of deferred financing costs and discount
752	752	838	958	899	734	613	678	164	-	-	-
Gain on sale of assets
-	-	-	-	-	-	-	-	549	0	-	-
Impairment of cost method investment
-	-	-	-	-	-	-	200	1,800	0	-	-
Other non-cash adjustments
-4,906	1,912	-504	864	197	-1,163	-1,261	293	1,042	22	-116	110
Changes in operating assets and liabilities, net of acquisition and disposal of businesses:
Accounts receivable
6,569	-2,166	15,821	13,007	7,593	5,750	-3,161	9,397	8,692	12,778	-1,531	10,193
Prepaid expenses and other assets
-6,383	5,217	9,550	8,495	10,979	8,464	-2,977	8,817	2,915	10,109	-3,054	5,635
Trade accounts payable
12,900	9,487	1,024	3,689	6,133	-948	-218	-1,363	1,714	228	-368	614
Accrued expenses and other liabilities
-9,718	-2,027	-4,973	-751	9,255	11,166	-17,055	-388	-1,056	-4,248	221	-7,907
Restricted cash due to customers
-	-	-	-	-	33,510	39,801	27,990	22,862	3,446	511	3,763
Due to customers
-	-	-	-	-	33,510	39,801	27,990	22,862	3,446	511	3,763
Deferred revenue
12,464	19,184	22,184	14,420	12,612	17,011	6,683	12,912	12,757	13,121	13,213	19,404
Net cash used in operating activities
182,477	201,385	176,290	153,628	129,227	116,884	107,244	68,691	85,527	56,048	86,887	60,310
Cash flows from investing activities
Purchase of property and equipment
11,492	14,719	10,208	17,694	18,633	13,911	20,086	20,557	18,215	10,760	5,534	7,692
Capitalized software development costs
46,874	37,629	28,345	26,359	15,481	8,535	3,197	1,245	1,012	175	41	-
Purchase of net assets of acquired companies, net of cash and restricted cash acquired
109,353	44,943	146,789	3,377	106,720	188,918	876	280,687	23,385	5,334	2,258	49,916
Net cash used in sale of business
-	-	-	-	-521	0	0	-	-	-	-	-
Purchase of derivative instruments
0	0	568	0	0	-	-	-	-	-	-	-
Proceeds from settlement of derivative instruments
0	0	1,000	0	0	-	-	-	-	-	-	-
Other investing activities
-500	500	0	0	-	-	-	-	-	-	-	-
Payments to Acquire Investments
-	-	-	-	-	-	-	-	-	2,000	-	-
Payments to Acquire Intangible Assets
-	-	-	-	-	-	-	-	-	130	-	-
Proceeds from sale of assets
-	-	-	-	-	-	-	-	874	0	-	-
Proceeds from sale and maturity of marketable securities
-	-	-	-	-	-	-	-	-	-	-	1,575
Net cash used in investing activities
-167,219	-97,791	-184,880	-47,430	-141,355	-211,364	-24,159	-302,489	-41,738	-18,399	-7,833	-56,033
Cash flows from financing activities
Proceeds from issuance of debt
424,000	270,900	774,500	227,200	312,300	365,100	103,008	315,000	0	4,000	-	86,000
Payments on debt
344,500	322,476	679,119	293,575	184,475	235,589	165,600	99,500	0	5,175	60,049	27,527
Payments of Financing Costs
0	0	3,085	0	429	3,003	0	2,440	767	0	-	47
Employee taxes paid for withheld shares upon equity award settlement
23,781	27,685	23,962	15,376	9,421	7,152	-	-	-	-	-	-
Proceeds from exercise of stock options
7	11	15	16	32	188	385	3,146	2,041	8,065	2,509	883
Change in due to customers
77,793	-188,502	226,717	96,000	34,279	-	-	-	-	-	-	-
Change in customer funds receivable
1,301	-844	6,644	0	0	-	-	-	-	-	-	-
Excess tax benefits from exercise and vesting of stock-based compensation
-	-	-	-	-	-	0	81	932	2,665	2,356	1,497
Payments for Repurchase of Common Stock
-	-	-	-	-	-	-	-	-	22,613	-	43,727
Dividend payments to stockholders
23,607	23,312	23,069	22,811	22,508	22,107	22,081	21,731	21,429	19,490	17,673	17,497
Payments on capital lease obligations
-	-	-	-	-	-	-	-	40	164	384	540
Net cash used in financing activities
111,213	-291,908	278,641	-8,546	129,778	97,437	-84,288	194,556	-19,263	-32,712	-73,241	-958
Effect of exchange rate on cash, cash equivalents and restricted cash
978	-2,014	-550	2,622	-2,695	-111	-399	213	-10	298	595	-1,733
Net decrease in cash, cash equivalents and restricted cash
127,449	-190,328	269,501	100,274	114,955	2,846	-1,602	-39,029	24,516	5,235	6,408	1,586
Supplemental disclosure of cash flow information
Cash (paid) received during the year for:
Interest
19,926	15,261	10,614	9,608	7,208	4,894	5,108	5,098	2	87	615	1,375
Taxes, net of refunds
-383	7,138	-5,613	-1,340	-4,795	-9,581	4,132	-3,456	4,601	9,527	-2,584	11,041
Non-cash investing and financing activities:
Purchase of equipment and other assets included in accounts payable
794	882	1,546	3,155	3,204	3,300	1,557	4,641	4,760	2,630	3,699	-
Acquired restricted cash liabilities due to customers
46,838	0	31,644	0	81,353	-	-	-	-	-	-	-