Cognex corp (CGNX)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Apr'18Dec'17Sep'17Jun'17Apr'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'10Jun'10Mar'10
Cash flows from operating activities:
Net income

20,477

80,327

41,685

48,749

33,104

45,418

80,436

56,196

37,217

-27,747

102,493

56,495

45,471

32,375

53,675

42,759

14,885

18,746

104,112

43,714

20,502

26,631

50,400

25,948

18,506

20,443

20,727

16,820

15,583

16,244

17,805

19,767

14,282

19,099

18,037

19,097

13,636

19,764

18,145

14,927

8,545

Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation expense

14,790

12,147

10,194

10,967

12,281

9,751

9,143

9,002

13,194

8,587

8,026

7,846

7,483

4,675

4,622

4,457

6,804

4,204

4,387

4,631

6,946

3,900

3,298

3,956

4,004

2,321

2,220

2,781

3,298

1,725

1,492

1,989

3,314

2,239

1,520

1,957

2,352

1,355

1,278

427

-33

Depreciation of property, plant, and equipment

5,631

5,727

5,263

5,362

5,175

4,999

4,600

4,444

4,430

3,872

3,523

3,205

3,083

3,127

2,974

2,820

2,757

2,645

2,407

2,470

2,346

2,249

2,143

2,061

1,990

1,916

1,793

1,768

1,828

1,744

1,797

1,629

1,551

1,447

1,413

1,373

1,296

1,244

1,159

1,137

1,145

Amortization of intangible assets

1,388

1,254

581

769

769

769

769

769

769

769

799

868

872

810

719

817

1,045

1,047

1,020

1,090

1,093

1,090

1,104

914

916

917

959

960

961

1,013

1,038

1,043

1,043

1,046

1,051

1,051

1,079

1,336

1,326

1,227

1,235

Amortization of discounts or premiums on investments

-106

55

221

-1,119

1,461

15

-29

-38

-56

-17

-17

-85

-86

-95

-84

-79

-125

-154

-159

-174

-203

-227

-312

-388

-896

-523

-553

-685

-758

-1,016

-1,137

-1,747

-1,835

-1,708

-1,679

-1,534

-1,462

-1,223

-881

-671

-420

Realized (gain) loss on sale of investments

1,850

736

294

382

40

-34

266

247

22

459

263

42

65

773

605

141

-13

104

19

192

29

22

45

105

501

-506

20

52

31

214

340

977

94

-214

19

19

-5

-

-

-

-

Other-than-temporary Impairment Loss, Debt Securities, Available-for-sale

160

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Revaluation of contingent consideration

0

0

-538

122

-985

47

204

188

-442

-116

239

124

-275

0

0

-200

-263

-790

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Tax effect of stock option exercises

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,697

1,316

2,165

1,074

3,811

1,397

1,376

338

287

131

2,838

421

1,199

1,545

880

1,860

157

-113

37

Change in deferred income taxes

1,826

93,061

494

171

1,140

588

-2,560

916

1,469

-3,617

858

1,893

-921

493

-1,528

879

2,064

-725

124

759

1,251

-595

1,452

1,634

-127

-2,018

-1,964

377

1,371

-1,938

433

897

179

66

-283

170

472

-3,431

1,608

1,101

-312

Change in operating assets and liabilities:
Accounts receivable

-2,182

-5,420

-4

1,444

-12,827

-16,269

-643

43,609

-24,830

-3,194

39,538

16,603

2,238

-24,551

20,065

16,712

1,025

-27,430

25,993

-2,618

8,005

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Unbilled revenue

-703

-6,430

911

3,879

-1,890

-5,636

10,345

-414

-3,389

-41,406

42,695

4,268

-953

-7,678

-15,521

25,511

-4

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Inventories

-4,954

-5,118

-7,625

-6,321

-4,073

-10,753

4,479

-4,101

27,321

18,538

10,839

2,325

5,386

371

1,184

-9,318

-2,646

-1,906

163

-3,846

15,046

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Prepaid expenses and other current assets

9,788

-1,578

-6,290

3,654

-3,191

6,313

-19,675

22,246

866

-7,650

-9,324

11,529

12,461

897

-2,925

10,670

-3,221

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating Lease, Payments, Use

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable

-1,613

5,031

1,130

-8,773

4,245

-6,065

9,707

-16,198

5,309

-6,810

7,318

4,647

7,167

-2

-4,135

4,008

2,216

-2,049

-5,178

3,368

-5,013

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued expenses

12,720

2,889

443

-562

-11,708

-1,886

7,932

4,261

-9,927

5,657

8,976

3,241

-3,398

211

5,798

5,115

-3,353

1,179

-123

3,323

-7,210

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued income taxes

7,650

26,309

2,957

-499

-3,501

-4,406

-12,137

-5,546

186

67,611

4,256

-929

397

1,801

-2,776

1,778

467

-8,075

9,313

5,139

3,580

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred revenue and customer deposits

11,961

3,177

-7,877

1,815

6,760

-3,407

-27,629

26,593

5,877

-4,264

-3,197

3,241

5,839

-449

73

4,153

-155

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

1,097

-6,356

673

751

439

-766

1,766

-586

424

646

-1,853

-742

734

-3,085

1,807

-285

-257

277

-6,470

10,637

-5,314

-8,555

16,528

1,467

-6,312

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,908

-3,733

860

-

-12,428

-3,148

6,060

-

8,493

-3,999

-2,310

-3,264

-4,447

6,459

1,252

Net cash provided by operating activities

65,142

67,911

65,164

58,889

61,261

71,762

79,076

17,830

54,786

84,269

49,434

42,905

47,715

75,423

57,347

21,731

27,580

44,332

65,992

14,573

3,430

100,854

31,279

14,247

17,461

36,220

20,260

20,185

18,790

26,322

34,637

27,318

12,854

23,938

14,272

27,277

20,788

29,585

25,471

11,566

9,711

Cash flows from investing activities:
Purchases of investments

199,530

148,279

218,467

406,300

258,596

165,985

279,858

218,081

118,108

221,348

110,897

110,999

193,612

152,913

143,040

236,299

219,616

139,097

324,719

65,751

157,083

138,651

94,236

65,012

124,734

119,748

83,381

90,958

76,694

105,135

246,247

52,383

56,721

35,901

119,880

103,895

64,270

75,787

61,480

99,906

16,694

Maturities and sales of investments

262,126

281,033

194,754

393,603

193,572

177,446

204,111

286,671

144,337

156,388

148,422

107,987

171,667

128,043

102,011

203,862

223,334

79,977

268,696

122,292

130,476

100,074

62,116

59,527

117,753

117,719

49,043

81,081

48,248

122,429

66,129

205,764

37,188

24,029

102,711

74,726

40,091

24,252

23,190

25,596

9,890

Purchases of property, plant, and equipment

3,074

8,227

4,549

3,891

5,078

9,739

5,681

8,405

13,270

8,710

7,872

6,077

6,095

2,325

5,144

3,110

2,237

5,211

3,492

5,261

4,264

11,856

3,737

2,656

2,685

3,478

1,842

2,402

1,908

2,257

2,317

2,817

2,487

2,275

1,920

2,048

1,577

2,545

1,076

1,150

1,081

Cash paid for acquisition of business, net of cash acquired

-

-

-

-

-

-

-

0

-

0

-1,401

25,343

176

11,802

2,483

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash paid from sale of discontinued business

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

315

Net cash provided by (used in) investing activities

-

-

-

-

-

-

-

0

-

-

0

0

291

-

0

113

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) investing activities

59,522

-42,384

-28,262

-16,588

-70,102

-2,543

-81,428

60,185

12,959

-73,670

31,054

-34,432

-28,507

-38,997

-48,656

-35,660

1,481

-64,439

43,958

40,805

-30,871

-50,433

-35,857

-8,141

-9,666

-9,257

-36,180

-12,279

-30,354

15,037

-182,435

150,564

-22,020

-14,147

-19,089

-31,217

-25,756

-54,080

-39,366

-75,460

-7,570

Cash flows from financing activities:
Issuance of common stock under stock plans

9,971

32,801

5,363

12,071

14,346

901

11,071

3,688

11,123

9,807

9,700

5,911

29,139

20,377

14,391

5,260

3,440

142

5,983

11,791

9,666

1,279

6,625

3,075

5,951

1,802

9,748

7,074

9,168

1,889

1,650

825

13,104

3,026

7,018

11,302

9,517

21,060

6,929

275

120

Repurchase of common stock

51,036

0

0

61,690

0

61,560

20,954

52,106

69,202

24,368

37,004

32,276

30,067

28,208

10,223

8,718

0

-

-

-

-

24,533

8,136

12,717

14,287

19,849

16,168

11,891

0

-

-

-

-

-

-

-

-

-

-

-

-

Payment of dividends

9,503

9,442

8,536

8,582

8,564

8,582

7,759

7,737

7,787

7,801

7,372

7,367

6,497

6,452

6,426

6,385

5,950

5,925

6,027

6,110

0

-

-

-

-

-

-

-

-

52,507

4,721

4,714

4,271

4,217

3,801

3,780

3,316

3,267

2,382

2,382

1,983

Stock option buyback

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

83

Tax effect of stock option exercises

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,697

1,316

2,165

1,074

3,811

1,397

1,376

338

287

131

2,838

421

1,199

1,545

880

1,860

157

-113

37

Net cash provided by (used in) financing activities

-50,568

23,359

-3,173

-58,201

5,782

-69,241

-17,642

-57,155

-65,866

-22,362

-36,602

-33,732

-7,425

-14,283

-2,258

-10,180

-2,510

-5,783

-90,547

-30,167

9,666

-30,432

2,186

-8,326

-6,171

-16,973

-2,609

-3,420

10,544

-50,280

-2,784

-3,758

11,671

-770

-5,584

9,067

7,081

19,653

4,704

-2,220

-1,909

Effect of foreign exchange rate changes on cash and cash equivalents

-6,330

844

-1,132

-292

143

863

-1,837

-1,230

1,111

6,996

-803

1,097

1,004

-3,647

-217

-876

1,388

-1,698

-1,531

433

-1,872

-2,474

399

-71

195

208

1,101

631

-1,383

-77

-1,252

-9,691

951

-1,093

-2,100

535

1,698

-168

9,462

-10,608

-5,399

Net change in cash and cash equivalents

67,766

49,730

32,597

-16,192

-2,916

841

-21,831

19,630

2,990

-4,767

43,083

-24,162

12,787

18,496

6,216

-24,985

27,939

-27,588

17,872

25,644

-19,647

17,515

-1,993

-2,291

1,819

10,198

-17,428

5,117

-2,403

-8,998

-151,834

164,433

3,456

7,928

-12,501

5,662

3,811

-5,010

271

-76,722

-5,167

Non-cash items related to discontinued operations:
Stock-based compensation expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

1,106

144

283

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation and amortization expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

285

281

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Capital expenditures

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

171

311

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-