CERNER CORPORATION CERN Cash Flow

Cerner corporation (CERN)

CashFlow / Quarterly

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
CASH FLOWS FROM OPERATING ACTIVITIES:
Net earnings
147,159	154,331	81,935	126,969	166,219	131,320	169,381	169,357	160,001	336,658	177,424	179,683	173,213	149,691	169,979	166,454	150,360	166,108	147,282	115,038	110,934	147,872	129,002	129,033	119,526	60,063	115,344	112,907	110,040	111,808	98,887	97,829	88,708	91,192	78,835	72,044	64,556	70,637	60,872	55,477	50,286
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization
172,646	178,407	173,073	169,815	166,671	168,843	161,103	160,053	152,592	155,482	146,352	144,056	134,833	132,851	127,289	124,970	119,126	123,150	115,562	113,068	100,445	85,141	75,406	71,712	70,094	74,078	67,228	62,891	59,341	60,244	56,121	53,426	52,789	55,715	54,171	52,530	50,140	52,466	49,420	46,647	44,804
Share-based compensation expense
35,031	30,220	30,537	23,024	19,860	21,075	25,209	24,204	24,935	23,802	19,858	21,859	17,500	17,640	18,942	20,143	17,811	16,795	18,875	19,290	15,161	15,962	15,061	14,620	13,649	12,645	12,527	10,529	10,594	9,809	9,721	8,252	8,331	7,556	7,232	6,187	6,944	6,673	6,244	5,656	5,150
Provision for deferred income taxes
10,449	28,332	7,639	11,156	3,998	18,016	14,676	4,783	-3,047	10,742	10,818	14,635	11,214	14,405	-45,499	11,599	7,978	60,574	1,805	-1,632	4,498	85,193	19,025	197	2,490	-42,220	18,103	43	1,427	-12,337	31,159	-5,170	-5,310	-31,359	1,377	1,870	5,999	11,560	12,690	2,369	3,743
Investment gains
477	5,390	8,722	15,509	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Changes in assets and liabilities:
Receivables, net
22,774	-33,555	-72,397	61,628	-13,789	-42,257	64,003	115,431	70,608	13,756	-60,643	45,487	34,236	-34,559	-3,017	61,105	-101,787	-15,996	45,878	58,667	71,575	38,224	21,344	40,062	-24,844	50,880	-2,296	32,959	-71,944	52,603	62,384	-24,303	-6,979	25,150	68,111	42,636	-6,918	14,455	15,590	21,370	-34,045
Inventory
296	22	-2	-947	-928	301	9,396	1,055	-1,445	63	1,120	-4,477	4,266	-4,924	3,044	-5,906	8,452	-7,786	-4,742	7,253	-7,676	-4,602	-2,936	3,324	-3,903	4,224	4,337	1,655	-2,105	-628	1,785	8,385	-9,263	11,129	-769	-640	2,609	2,986	-1,150	-909	-1,115
Prepaid expenses and other
13,681	1,557	-857	62,730	13,318	5,837	18,982	-55,485	-125,550	179,461	12,014	27,164	-27,270	32,857	-5,371	34,421	4,751	13,622	3,790	30,605	7,346	24,487	1,855	-28,540	16,823	-12,252	20,288	-1,502	29,504	-16,098	4,424	13,075	823	-8,505	-12,654	-2,264	13,449	-18,703	-2,084	2,523	-17,114
Accounts payable
8,539	-5,388	-28,326	35,871	-10,891	43,440	-21,602	35,756	7,608	19,611	-46,298	55,555	-21,908	6,369	-14,338	17,832	-23,060	7,639	-3,563	-10,369	6,300	-17,163	20,655	29,013	-29,531	23,439	-24,780	16,654	-11,183	4,669	15,537	-5,428	20,487	-	-	-	-	6,357	9,555	9,087	5,813
Accrued income taxes
1,105	-3,804	774	-5,825	4,256	-18,699	-17,069	724	7,195	16,374	5,830	-4,614	768	10,680	40,237	1,955	11,201	52,673	7,263	-26	-4,641	-19,726	2,826	17,333	-22,197	21,098	-17,429	6,103	4,922	14,199	-7,524	730	-30,189	21,391	4,185	-2,032	2,509	-21,258	-9,276	20,550	-32,667
Deferred revenue
-42,310	50,155	-11,310	-16,543	-61,547	47,222	74,448	-32,927	-7,205	-15,863	413	-11,933	24,269	3,335	10,554	19,975	-32,309	12,458	-4,147	-28,999	30,138	-3,015	-10,440	-4,478	22,279	12,613	17,606	-15,126	2,960	6,944	18,193	-1,622	9,762	14,860	4,438	3,444	11,050	-9,838	4,876	-16,474	-3,182
Other accrued liabilities
-11,885	-21,264	32,592	1,263	27,301	-40,447	24,689	-1,248	10,499	-4,616	1,031	-38,824	-25,072	-3,658	-1,444	-12,879	-3,486	-4,060	33,369	-1,181	22,657	-12,707	-11,751	5,687	-32,447	22,616	-2,040	15,618	-8,998	21,095	28,712	31,979	2,711	27,430	28,514	24,903	-5,557	3,888	-3,069	9,910	-20,718
Net cash provided by operating activities
283,506	437,575	351,448	206,810	317,266	406,889	338,454	299,701	408,965	348,910	362,937	292,243	303,585	337,939	311,064	260,429	336,205	445,497	271,520	108,664	214,247	223,448	219,521	248,271	155,787	141,480	164,230	176,507	213,648	180,554	182,213	182,839	162,708	168,489	129,177	122,127	126,501	121,747	118,956	110,238	105,503
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital purchases
49,248	82,930	110,714	158,613	119,261	140,977	116,957	109,283	79,711	99,711	73,000	101,307	88,065	131,566	110,266	118,244	99,351	106,757	88,241	84,870	82,264	76,212	68,375	62,336	69,661	134,471	83,419	85,536	49,451	53,463	51,802	51,801	26,363	29,193	23,925	30,305	21,372	26,970	19,330	23,903	32,108
Capitalized software development costs
73,855	62,587	66,382	70,351	74,551	64,571	66,171	69,349	73,602	64,115	67,067	71,874	71,092	-	-	-	75,340	59,948	71,844	69,797	63,067	47,039	44,095	42,122	44,544	48,698	48,044	43,573	34,334	27,683	25,659	23,767	23,080	21,115	20,772	20,589	20,466	19,196	20,535	20,732	20,516
Purchases of investments
39,194	46,669	177,256	49,770	90,953	146,137	282,564	43,205	151,387	295,038	154,526	129,144	53,340	94,269	146,648	83,417	157,744	27,853	142,238	230,479	87,411	144,098	569,035	244,876	256,027	274,780	294,711	224,483	312,845	287,300	344,387	289,577	365,733	212,314	242,274	280,120	348,566	175,928	308,848	208,534	110,522
Sales and maturities of investments
36,112	72,497	217,589	179,565	110,104	97,357	122,711	230,054	101,674	54,162	50,557	72,325	115,030	201,799	78,789	150,838	32,473	245,627	196,743	163,777	602,240	180,783	651,770	336,345	235,948	245,472	291,520	237,367	296,239	269,137	216,396	181,229	265,632	176,662	168,210	243,642	203,367	111,787	170,055	152,259	57,391
Purchase of other intangibles
9,682	9,793	8,337	8,463	8,994	12,515	7,931	7,901	8,472	7,460	8,150	7,651	6,385	5,250	5,861	3,769	3,592	3,340	11,197	3,599	3,296	3,279	3,048	3,889	3,301	17,008	4,025	12,465	23,307	15,658	1,626	2,687	2,899	12,225	3,297	1,870	3,228	2,746	5,483	318	2,233
Payments to Acquire Businesses, Net of Cash Acquired
744	-	-	-	0	-	-	-	-	-	-	-	-	-	0	0	0	106,115	0	0	1,372,014	0	0	7,476	0	0	75	0	67,802	40,540	0	0	0	-	-	-	-	0	0	0	14,486
Net cash used in investing activities
-136,611	-204,021	-145,100	-107,632	-183,655	-266,843	-350,912	316	-211,498	-412,162	-252,186	-237,651	-103,852	-94,179	-257,614	-134,427	-303,554	-58,386	-116,777	-224,968	-1,005,812	-89,845	-32,783	-24,354	-137,585	-229,485	-138,754	-128,690	-191,500	-155,507	-207,078	-186,603	-152,443	-135,457	-122,058	-117,311	-190,265	-113,053	-184,141	-101,228	-122,474
CASH FLOWS FROM FINANCING ACTIVITIES:
Long-term debt issuance
300,000	0	0	600,000	0	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	500,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of Long-term Debt
-	-	-	-	-	0	0	0	75,000	0	0	0	0	-	-	-	-	-	-	-	-	14,855	6	3	66	14,944	6	0	9,750	15,311	334	468	970	24,986	261	340	114	25,221	718	1,467	219
Proceeds from excess tax benefits from share-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,614	17,136	34,939	13,453	5,437	6,334	14,308	10,653	7,599	12,702	8,973	11,939	6,330	13,802	16,299	2,424	7,439	10,872	15,698	8,342	4,772	5,485	7,627
Proceeds from exercise of stock options
118,203	69,562	63,474	109,719	15,281	9,348	60,658	11,307	10,036	15,017	23,395	27,610	10,683	3,308	35,544	14,521	10,421	8,994	9,649	13,795	19,037	12,456	5,248	6,002	8,173	7,354	7,074	9,063	7,912	7,045	6,058	14,062	10,982	2,437	6,491	13,631	16,341	11,458	9,042	6,608	7,616
Payments to taxing authorities in connection with shares directly withheld from associates
4,517	1,607	10,134	3,130	1,730	124	2,441	5,585	1,723	3,595	17	2,658	5,314	0	34,953	2,750	419	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Treasury stock purchases
650,000	300,000	400,000	600,000	20,542	277,917	57,586	200,000	87,624	150,045	23,389	0	0	500,200	0	50,019	150,056	144,993	200,064	0	0	0	0	142,056	75,026	0	28,251	78,550	63,241	0	0	0	0	-	-	-	-	-	-	-	-
Dividends paid
56,047	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Contingent consideration payments for acquisition of businesses
-	-	-	-	-	-	-	-	-	-	0	1,671	1,000	0	0	2,074	0	-	-	-	-	-	-	-	-	0	0	0	800	-6,800	3,400	0	0	-	-	-	-	-	-	-	-
Cash Grants
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	48,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Other financing activities
-3,600	0	-4,000	-4,450	0	-	-	-	-	-	-	-	-	-	-	-	-	1	-1	1	-792	0	0	0	2,894	0	4,348	0	475	0	0	0	0	779	0	1	-780	-	-	-	-
Proceeds from sale of future receivables
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	1,516
Net cash used in financing activities
-295,961	-288,575	-407,953	102,139	-6,991	-264,083	4,576	-195,969	-154,311	-138,623	-11	23,281	4,369	-496,892	591	-40,322	-140,054	-244,455	-184,802	19,920	553,184	11,054	62	-129,723	-1,717	3,063	-9,236	-56,785	-56,431	3,673	8,654	27,396	26,311	-20,125	13,669	24,164	31,145	-5,421	13,096	10,626	16,540
Effect of exchange rate changes on cash and cash equivalents
-7,365	434	-4,889	-1,554	2,415	-451	-4,472	-6,479	-680	-256	1,884	4,105	3,489	-7,504	-126	-3,687	870	-2,291	-2,163	28	-6,487	-5,948	-5,566	1,138	1,066	-201	516	-1,726	-1,379	299	1,524	-2,042	1,476	-955	-3,650	509	2,675	-509	8,041	-4,048	-1,085
Net increase (decrease) in cash and cash equivalents
-156,431	-54,587	-206,494	199,763	129,035	-124,488	-12,354	97,569	42,476	-202,131	112,624	81,978	207,591	-260,636	53,915	81,993	-106,533	140,365	-32,222	-96,356	-244,868	138,709	181,234	95,332	17,551	-85,143	16,756	-10,694	-35,662	29,019	-14,687	21,590	38,052	11,952	17,138	29,489	-29,944	2,764	-44,048	15,588	-1,516
Cash paid during the year for:
Interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,404	0	3,411	72
Income taxes, net of refunds
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	33,499	24,823	7,102	56,313
Summary of acquisition transactions:
Fair value of tangible assets acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-10,200	-983,287	-1,219	9,888	441,993	-368	0	184	0	-4,653	-3,008	3,877	-2,381	6,375	0	0	0	-	-	-	-	-	-	-	-
Fair value of intangible assets acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-25,000	-1,275,960	0	0	637,980	-7,600	0	3,800	0	0	-50,978	50,978	-25,489	-18,559	0	0	0	-	-	-	-	-	-	-	-
Fair value of goodwill
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	46,940	-957,863	23,453	-978	450,001	-33,570	0	16,785	0	941	-120,963	120,019	-59,567	-35,281	0	0	0	-	-	-	-	-	-	-	-
Less: Fair value of liabilities assumed
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-23,480	11,740	-8,874	-1,119	-324,830	157,960	0	0	-1,693	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Less: Fair value of contingent liability payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-18,982	-1,916	0	0	0	-	-	-	-	-	-	-	-
Cash paid for acquisitions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	97	75	0	68,455	45,549	0	0	0	-	-	-	-	-	-	-	-
Cash acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	97	0	0	653	5,009	0	0	0	-	-	-	-	-	-	-	-
Net cash used
744	-	-	-	0	-	-	-	-	-	-	-	-	-	0	0	0	106,115	0	0	1,372,014	0	0	7,476	0	0	75	0	67,802	40,540	0	0	0	-	-	-	-	0	0	0	14,486