Cision (CISN) annual cash flow statement covering fiscal 2015 through 2018, as reported to the SEC.
Net cash provided by operating activities has grown 78.3% a year on average since fiscal 2015, from $22.42M to $127.13M.
A cash flow statement shows the cash that actually came in and went out, split between running the business, investing and financing.
| Dec'18 | Dec'17 | Dec'16 | Dec'15 | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities | |||||||||||||||||||
Net income (loss) | |||||||||||||||||||
-24,394 | -123,042 | -98,412 | -90,544 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net income (loss) | -24,394 | -123,042 | -98,412 | -90,544 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||||||||||||||||||
Depreciation and amortization | |||||||||||||||||||
133,821 | 139,474 | 126,983 | 104,038 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Depreciation and amortization | 133,821 | 139,474 | 126,983 | 104,038 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Non-cash interest charges and amortization of debt discount and deferred financing costs | |||||||||||||||||||
17,498 | 65,554 | 47,519 | 9,869 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Non-cash interest charges and amortization of debt discount and deferred financing costs | 17,498 | 65,554 | 47,519 | 9,869 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Non-cash yield on Convertible Preferred Equity Certificates | |||||||||||||||||||
- | - | - | 2,583 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Non-cash yield on Convertible Preferred Equity Certificates | - | - | - | 2,583 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Equity-based compensation expense | |||||||||||||||||||
5,267 | 4,138 | 5,302 | 5,294 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Equity-based compensation expense | 5,267 | 4,138 | 5,302 | 5,294 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Provision for doubtful accounts | |||||||||||||||||||
4,409 | 3,493 | 2,572 | 1,397 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Provision for doubtful accounts | 4,409 | 3,493 | 2,572 | 1,397 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deferred income taxes | |||||||||||||||||||
-105 | -23,278 | -69,115 | -14,637 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deferred income taxes | -105 | -23,278 | -69,115 | -14,637 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Unrealized foreign currency gains | |||||||||||||||||||
13,533 | -5,011 | 4,350 | -10,359 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Unrealized foreign currency gains | 13,533 | -5,011 | 4,350 | -10,359 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Gain on sale of business | |||||||||||||||||||
- | 1,785 | - | 4,700 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Gain on sale of business | - | 1,785 | - | 4,700 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other | |||||||||||||||||||
5,441 | -194 | -234 | 123 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other | 5,441 | -194 | -234 | 123 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Changes in operating assets and liabilities, net of effects of acquisitions and disposal: | |||||||||||||||||||
Accounts receivable | |||||||||||||||||||
7,784 | 6,349 | 1,547 | -4,590 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accounts receivable | 7,784 | 6,349 | 1,547 | -4,590 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Prepaid expenses and other current assets | |||||||||||||||||||
-1,682 | -1,579 | -4,227 | -3,705 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Prepaid expenses and other current assets | -1,682 | -1,579 | -4,227 | -3,705 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other assets | |||||||||||||||||||
-742 | -737 | -4,376 | -4,777 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other assets | -742 | -737 | -4,376 | -4,777 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accounts payable | |||||||||||||||||||
728 | -3,831 | -807 | -1,582 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accounts payable | 728 | -3,831 | -807 | -1,582 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accrued compensation and benefits | |||||||||||||||||||
3,530 | -6,235 | 8,228 | -3,893 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accrued compensation and benefits | 3,530 | -6,235 | 8,228 | -3,893 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other accrued expenses | |||||||||||||||||||
-3,466 | 4,068 | -1,564 | -3,548 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other accrued expenses | -3,466 | 4,068 | -1,564 | -3,548 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deferred revenue | |||||||||||||||||||
1,808 | 4,887 | -7,362 | -5,342 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deferred revenue | 1,808 | 4,887 | -7,362 | -5,342 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other liabilities | |||||||||||||||||||
1,484 | 4,621 | 1,557 | -67 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other liabilities | 1,484 | 4,621 | 1,557 | -67 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net cash provided by operating activities | |||||||||||||||||||
127,128 | 68,848 | 17,373 | 22,422 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash provided by operating activities | 127,128 | 68,848 | 17,373 | 22,422 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Cash flows from investing activities | |||||||||||||||||||
Purchases of property and equipment | |||||||||||||||||||
14,629 | 10,734 | 7,382 | 5,249 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Purchases of property and equipment | 14,629 | 10,734 | 7,382 | 5,249 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Software development costs | |||||||||||||||||||
19,804 | 14,953 | 11,738 | 11,307 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Software development costs | 19,804 | 14,953 | 11,738 | 11,307 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Acquisitions of businesses, net of cash and restricted cash acquired of $6,068 and $2,711 | |||||||||||||||||||
66,463 | 78,528 | 804,194 | 4,500 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Acquisitions of businesses, net of cash and restricted cash acquired of $6,068 and $2,711 | 66,463 | 78,528 | 804,194 | 4,500 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from disposal of business | |||||||||||||||||||
- | 23,675 | 3,998 | 2,089 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from disposal of business | - | 23,675 | 3,998 | 2,089 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other | |||||||||||||||||||
24 | -552 | 100 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other | 24 | -552 | 100 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Change in restricted cash | |||||||||||||||||||
- | - | - | -8,303 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Change in restricted cash | - | - | - | -8,303 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net cash used in investing activities | |||||||||||||||||||
-100,920 | -79,988 | -819,416 | -10,664 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash used in investing activities | -100,920 | -79,988 | -819,416 | -10,664 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Cash flows from financing activities | |||||||||||||||||||
Acquisition of noncontrolling interests | |||||||||||||||||||
- | - | - | 2,411 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Acquisition of noncontrolling interests | - | - | - | 2,411 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from revolving credit facility | |||||||||||||||||||
- | 5,000 | 33,475 | 33,379 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from revolving credit facility | - | 5,000 | 33,475 | 33,379 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Repayment of revolving credit facility | |||||||||||||||||||
- | 38,475 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Repayment of revolving credit facility | - | 38,475 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from issuance of Convertible Preferred Equity Certificates to Cision Owner | |||||||||||||||||||
- | - | 136,025 | 2,821 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from issuance of Convertible Preferred Equity Certificates to Cision Owner | - | - | 136,025 | 2,821 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Payment of amounts due to Cision Owner | |||||||||||||||||||
- | 1,940 | - | 2,821 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Payment of amounts due to Cision Owner | - | 1,940 | - | 2,821 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from term credit facility, net of debt discount of $1,013 | |||||||||||||||||||
- | 1,350,259 | 1,364,070 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from term credit facility, net of debt discount of $1,013 | - | 1,350,259 | 1,364,070 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Repayments of term credit facility | |||||||||||||||||||
63,297 | 1,497,838 | 724,930 | 39,320 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Repayments of term credit facility | 63,297 | 1,497,838 | 724,930 | 39,320 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Payments of capital lease obligations | |||||||||||||||||||
- | 171 | 287 | 301 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Payments of capital lease obligations | - | 171 | 287 | 301 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Payments of deferred financing costs | |||||||||||||||||||
850 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Payments of deferred financing costs | 850 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from merger and recapitalization | |||||||||||||||||||
- | 305,110 | - | 85 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from merger and recapitalization | - | 305,110 | - | 85 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Payment of contingent consideration | |||||||||||||||||||
2,873 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Payment of contingent consideration | 2,873 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net cash provided by (used in) financing activities | |||||||||||||||||||
-67,020 | 121,945 | 808,353 | -8,568 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash provided by (used in) financing activities | -67,020 | 121,945 | 808,353 | -8,568 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Effect of exchange rate changes on cash, cash equivalents, and restricted cash | |||||||||||||||||||
-3,073 | 2,714 | -1,781 | -1,161 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Effect of exchange rate changes on cash, cash equivalents, and restricted cash | -3,073 | 2,714 | -1,781 | -1,161 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Decrease in cash, cash equivalents, and restricted cash | |||||||||||||||||||
-43,885 | 113,519 | 4,529 | 2,029 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Decrease in cash, cash equivalents, and restricted cash | -43,885 | 113,519 | 4,529 | 2,029 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets | |||||||||||||||||||
Interest | |||||||||||||||||||
69,816 | 102,400 | 94,615 | 48,059 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Interest | 69,816 | 102,400 | 94,615 | 48,059 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Income taxes | |||||||||||||||||||
-17,538 | -10,250 | -5,582 | -4,680 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Income taxes | -17,538 | -10,250 | -5,582 | -4,680 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Supplemental disclosure of cash flows information | |||||||||||||||||||
Issuance of securities by Cision Owner in connection with acquisitions | |||||||||||||||||||
- | 7,000 | 40,000 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Issuance of securities by Cision Owner in connection with acquisitions | - | 7,000 | 40,000 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Non-cash contribution from Cision Owner in connection with merger | |||||||||||||||||||
- | 451,139 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Non-cash contribution from Cision Owner in connection with merger | - | 451,139 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Issuance of shares for acquisitions | |||||||||||||||||||
20 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Issuance of shares for acquisitions | 20 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||