CABOT MICROELECTRONICS CORPORATION CCMP Cash Flow

Cabot microelectronics corporation (CCMP)

CashFlow / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	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	Dec'09
Cash flows from operating activities:
Net income
70,083	64,321	39,215	107,676	123,969	126,569	110,043	88,327	73,095	61,638	86,952	81,157	79,920	70,771	59,849	51,675	42,859	47,539	56,146	59,659	63,075	59,359	50,751	50,180	54,858	54,183	52,578	48,010	43,272	39,382	40,094	38,476	38,023	45,585	51,662	57,663	54,971	52,826	49,458	0	0	0
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
118,895	113,693	98,592	76,825	56,642	35,917	25,876	25,927	25,839	25,734	25,930	26,471	26,750	26,694	26,031	23,862	21,911	20,021	18,719	18,951	19,336	19,663	19,941	19,818	19,727	19,911	20,457	21,538	22,315	23,132	23,545	23,607	23,832	23,906	23,992	24,123	24,380	24,675	24,994	0	0	0
Accretion on Asset Retirement Obligations - Liabilities
0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Provision for doubtful accounts
931	571	432	30	-134	-12	185	81	69	8	26	603	564	614	588	0	-58	-52	-84	-28	9	-60	-170	-256	-82	-81	173	108	-13	3,926	3,771	3,847	3,772	-72	-18	7	34	-101	-113	0	0	0
Share-based compensation expense
15,516	14,820	18,227	19,296	20,143	20,806	18,517	17,557	16,621	15,972	13,004	12,474	12,050	12,233	13,787	15,058	15,941	17,505	16,445	15,561	14,957	14,083	14,042	13,930	13,838	13,222	13,350	13,242	13,190	13,407	13,306	13,106	12,867	12,610	12,646	12,590	12,446	11,761	11,643	0	0	0
Deemed repatriation transition tax
-	-	-	-	-	-	11,340	24,641	24,641	24,641	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income tax expense (benefit)
-20,456	-12,791	-27,150	-15,205	-18,267	-15,555	10,835	7,591	14,113	12,503	392	-192	-761	-1,912	-1,757	-1,806	-3,523	-1,153	869	1,850	2,829	-1,902	-700	-3,307	-7,346	-2,987	-4,722	-1,239	2,777	1,003	-2,733	-6,047	1,106	3,723	4,934	8,988	478	-1,309	-2,150	0	0	0
Tax benefit from share-based compensation plans
-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash foreign exchange (gain) loss
-810	-581	-839	-1,374	508	56	873	1,375	-598	-700	-435	135	1,030	1,786	1,144	-206	-572	-1,161	-1,391	-1,780	-1,429	-953	-943	-8,458	-7,530	-5,050	-3,832	2,574	1,672	518	-748	1,742	1,072	332	-212	-1,301	-1,676	-1,682	-498	0	0	0
Loss (Gain) on disposal of property, plant and equipment
47	63	36	13	-15	-124	-91	1,154	1,738	1,815	1,820	625	119	-61	-103	-200	-230	-159	28	129	113	51	51	-1,021	-557	-430	-551	41	-392	-263	-247	327	291	168	140	76	77	72	107	0	0	0
Impairment of assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,079	79	79	79	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash charge on inventory step up of acquired inventory sold
42	4,608	14,869	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of debt issuance costs
3,163	3,182	2,884	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
-2,740	-2,659	-1,362	278	1,863	2,279	1,666	4,100	2,121	1,786	188	-165	1,100	1,461	815	912	200	-146	-524	-1,250	-1,232	-654	-724	370	585	-670	-1,400	-3,875	-3,363	-2,747	-2,033	171	-1,953	-1,948	-723	-896	346	1,091	92	0	0	0
Changes in operating assets and liabilities:
Accounts receivable
21,987	6,536	6,156	-3,731	-1,747	4,751	12,068	7,960	9,805	840	3,986	14,765	5,051	18,204	8,017	-18,501	-10,243	-8,475	-9,013	17,448	10,155	4,024	8,181	12,979	8,661	19,597	5,936	5,982	5,967	-10,121	4,622	-4,184	5,675	13,507	6,623	1,312	-2,049	-9,294	-1,985	0	0	0
Inventories
12,996	23,637	20,993	14,393	17,771	6,166	442	6,499	5,714	1,164	1,220	-3,759	-1,917	1,234	-3,351	14,101	7,821	5,187	8,290	6,130	11,026	7,854	3,794	-2,927	-3,953	-3,827	1,683	10,488	8,689	13,483	10,228	-4,059	-1,182	-2,743	-2,816	-2,283	-5,933	-7,814	-5,715	0	0	0
Prepaid expenses and other assets
-6,435	-6,426	-6,830	-17,495	-5,100	5,679	5,818	10,653	4,769	3,398	1,576	-386	-829	-3,500	-3,935	11,005	14,346	10,358	3,662	-6,813	-8,717	2,781	-576	4,992	3,617	-9,530	3,471	-8,791	-10,669	-5,892	-4,328	11,298	7,800	200	-658	-13,827	-11,086	-2,524	-6,021	0	0	0
Accounts payable
490	-12,243	1,163	-1,903	106	10,794	128	2,551	4,903	-4,689	892	1,281	-4,989	5,057	-478	-3,637	-480	-1,094	801	4,482	2,127	-1,393	-850	-2,399	855	2,042	-1,359	-660	2,356	-1,839	2,026	2,764	-2,272	492	-1,021	-6,279	-2,573	2,787	1,555	0	0	0
Accrued expenses, income taxes payable and other liabilities
7,496	-8,877	-20,275	-16,469	-26,457	-8,844	10,245	12,613	16,619	14,863	21,292	14,163	5,432	4,393	-2,931	-5,188	-1,625	-1,459	7,390	9,727	9,466	4,612	-6,625	-3,666	-1,802	6,913	12,953	9,917	10,239	8,414	-352	-4,097	-1,710	18	-1,181	445	-1,520	-912	16,860	0	0	0
Net cash provided by operating activities
233,792	209,404	174,981	181,914	155,259	151,948	168,865	155,349	150,594	146,862	141,369	127,470	120,484	113,118	95,211	82,088	82,152	83,752	98,186	104,597	101,725	88,791	67,478	68,768	69,737	79,619	85,483	78,394	77,941	64,317	69,065	78,042	87,570	95,976	93,566	80,776	68,053	69,734	88,385	0	0	0
Net Cash Provided by (Used in) Investing Activities [Abstract]
Additions to property, plant and equipment
95,692	74,138	55,972	38,754	31,976	24,980	21,308	20,518	18,301	20,412	21,174	19,735	19,017	17,487	17,670	18,700	18,825	16,405	13,812	11,257	10,528	11,388	12,551	14,666	16,427	15,300	14,633	15,532	13,491	15,651	19,586	23,946	29,956	31,721	28,052	21,847	16,056	14,113	11,657	0	0	0
Proceeds from sales of property, plant and equipment
1,601	1,767	1,224	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from the sale of property, plant and equipment
-	-	-	-	-	-	-	-	-	-	1,216	637	90	5	17	17	43	58	201	213	217	202	202	194	166	180	20	0	0	0	-	-	-	-	41	1	3	3	2	0	0	0
Acquisition of a business, net of cash acquired
1	1	1,182,187	0	0	0	-	-	-	0	-	-	-	-	126,976	126,976	126,525	126,455	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of available-for-sale securities
-	-	-	-	-	-	209,048	178,412	50,673	50,174	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of intangible assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	315	0	0	0
Proceeds from the sale and maturities of investment securities
-	-	-	-	-	-	214,460	55,194	50,723	2,026	175	0	0	0	-	-	-	-	-	-	-	-	2,305	2,305	2,130	2,138	25	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities
-94,092	-68,413	-1,232,976	-1,087,141	-1,213,310	-1,160,286	-22,751	-150,012	-14,126	-67,349	-19,783	-18,923	-19,178	-17,803	-144,429	-145,459	-145,105	-142,600	-13,409	-10,842	-10,136	-9,932	-8,982	-11,105	-13,069	-12,982	-14,588	-15,646	-13,599	-15,748	-19,683	-24,048	-30,066	-31,856	-28,186	-22,021	-16,228	-14,260	-11,920	0	0	0
Cash flows from financing activities:
Repayment of long-term debt
78,314	110,652	105,326	102,663	182,812	141,094	144,375	147,657	13,126	14,219	10,938	9,843	8,750	6,562	8,750	8,750	8,750	8,750	8,750	8,750	6,562	6,563	6,562	8,749	10,937	8,749	10,937	8,751	6,563	6,563	2,188	0	0	0	-	-	-	-	-	-	-	-
Repurchases of common stock
29,538	13,616	14,720	20,684	39,046	43,548	44,288	41,398	19,694	15,947	14,208	6,845	5,414	19,113	28,818	27,856	42,866	37,724	42,247	49,609	52,236	62,230	55,072	57,710	50,076	40,110	41,294	41,293	41,293	31,308	34,537	38,649	43,653	58,626	55,499	56,387	51,393	36,371	25,764	0	0	0
Proceeds from issuance of long-term debt
0	0	1,062,337	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Debt issuance costs
0	0	18,745	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Principal payments under financing lease obligations
0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	21	24	27	29	11	340	664	983	1,296	1,274	1,252	1,231	1,210	0	0	0
Proceeds from issuance of stock
17,183	15,627	17,210	14,083	15,303	19,598	23,031	23,351	23,902	24,590	30,615	41,427	39,619	29,379	19,512	7,172	6,847	26,980	35,782	35,665	40,792	21,888	43,070	51,501	53,654	59,273	30,905	27,075	20,622	39,709	36,497	31,314	35,250	25,570	38,051	38,014	33,873	16,846	3,429	0	0	0
Dividends paid
49,142	48,434	46,324	44,355	42,436	36,050	30,730	25,571	20,343	19,667	19,041	18,309	17,584	13,089	8,658	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Tax benefits associated with share-based compensation expense
-	-	-	-	-	-	-	-	-	-	6,557	7,361	6,803	4,425	2,305	792	760	4,745	6,207	6,203	6,673	2,771	2,806	3,203	2,687	2,478	1,148	748	726	860	636	484	539	606	830	967	908	591	0	0	0	0
Net cash provided by financing activities
10,185	-157,077	894,432	888,773	793,401	841,298	-197,562	-190,544	-27,868	-21,230	-7,015	13,791	14,674	-4,960	-24,409	-32,968	-44,009	-14,749	-9,008	-16,491	5,617	-27,184	1,192	5,195	-4,672	12,892	-20,199	-24,903	-29,193	-172,129	-174,401	-179,331	-180,668	-33,433	-17,914	-18,680	-17,864	-20,165	-23,545	0	0	0
Effect of exchange rate changes on cash
-1,443	1,534	-863	-992	-4,524	-1,310	6,479	7,429	9,151	13,233	-4,160	-1,523	1,315	-2,759	6,916	733	-301	-3,714	-5,734	-4,086	-2,702	-2,709	-1,562	1,046	-1,203	-2,685	-3,126	-3,130	-1,857	-449	932	-706	-108	-10	916	2,795	2,658	2,832	1,292	0	0	0
Increase (decrease) in cash and cash equivalents
148,442	-14,552	-164,426	-17,446	-269,174	-168,350	-44,969	-177,778	117,751	71,516	110,411	120,815	117,295	87,596	-66,711	-95,606	-107,263	-77,311	70,035	73,178	94,504	48,966	58,126	63,904	50,793	76,844	47,570	34,715	33,292	-124,009	-124,087	-126,043	-123,272	30,677	48,382	42,870	36,619	38,141	54,212	0	0	0
Supplemental disclosure of non-cash investing and financing activities:
Purchases of property, plant and equipment in accrued liabilities and accounts payable at the end of the period
20,106	16,175	8,690	3,472	2,332	1,994	1,975	1,058	1,060	798	1,488	2,322	2,633	1,348	1,005	782	1,222	2,741	1,503	1,744	1,719	507	1,267	1,514	758	913	1,232	70	680	397	1,894	3,478	6,218	8,516	6,322	5,364	2,673	1,440	974	0	0	0
Equity consideration related to the acquisition of KMG Chemicals, Inc
0	0	331,048	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid during the period for lease liabilities
0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Right of use asset obtained in exchange for lease liabilities
0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Issuance of restricted stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	5,926	6,102	6,008	6,374	6,455	6,279	6,493	6,774	6,693	6,693	6,512	4,985	0	0	0