Conmed corporation (CNMD)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11
Cash flows from operating activities:
Net income

5,927

14,934

6,970

5,695

1,021

15,653

5,825

8,719

10,657

46,696

7,197

6,139

-4,545

6,708

7,337

2,884

-2,265

7,852

8,873

7,461

6,312

11,339

1,972

10,255

8,626

10,227

5,687

9,533

10,492

10,897

9,320

10,296

9,968

-25,134

8,211

8,680

8,995

Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation

4,646

4,463

5,258

4,525

4,442

4,649

4,875

4,504

4,502

5,086

5,235

4,892

4,866

5,237

5,301

4,955

4,986

4,785

4,723

4,563

4,633

5,090

5,229

4,905

4,568

4,952

4,533

4,549

4,619

4,617

4,744

4,586

4,688

4,819

4,717

4,567

4,416

Amortization of debt discount

2,264

2,264

2,264

2,264

1,510

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

565

1,131

1,113

1,094

Amortization of deferred debt issuance costs

819

-

-

-

697

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization

13,776

12,263

14,296

14,868

12,208

9,902

10,837

10,743

10,749

9,358

9,627

9,384

9,058

8,862

8,618

9,078

8,272

6,786

6,504

6,348

5,537

6,624

6,487

6,531

6,300

7,374

7,192

7,538

7,110

7,229

6,962

6,666

7,124

5,501

4,907

5,027

4,830

Stock-based compensation

3,032

2,981

3,008

3,108

2,703

2,535

2,512

2,650

2,303

2,160

2,119

2,266

1,955

1,870

1,922

2,094

2,489

1,938

1,782

1,923

1,856

1,639

5,173

1,333

1,185

1,491

1,606

1,344

1,152

1,538

1,541

1,391

1,183

1,526

1,482

1,206

1,026

Deferred income taxes

-2,742

-804

748

-1,555

-4,699

3,331

-1,386

854

-736

-34,892

-854

-9

-4,266

1,106

365

-1,400

-2,942

-1,908

1,983

923

1,253

837

-4,958

512

3,325

416

1,764

3,124

1,914

1,194

5,661

3,356

2,735

-25,059

2,980

4,356

4,625

Loss on early extinguishment of debt

0

0

0

0

-300

0

0

0

0

-

-

-

-

-

0

0

-254

0

0

0

0

-

-

-

-

-37

0

0

-263

0

0

0

0

-

-

-

-

Increase (decrease) in cash flows from changes in assets and liabilities:
Accounts receivable

-19,057

24,699

-3,821

6,798

-13,733

21,821

-855

6,639

-10,145

19,841

88

3,944

-10,242

17,715

-6,406

6,499

-11,428

9,953

-3,881

-234

3,805

8,444

-8,115

5,052

-10,636

9,609

-11,500

5,731

-3,042

5,223

-7,937

-4,591

5,618

6,281

-19,286

4,631

-90

Inventories

12,313

-15,528

1,836

1,838

11,971

1,360

10,663

-1,601

4,615

-8,136

12,634

-3,946

3,374

-3,969

5,415

-5,788

1,239

-6,548

17,126

6,848

1,155

-19,574

10,860

7,227

11,936

-3,764

4,000

-3,277

4,858

-6,246

5,514

-314

-2,764

-2,918

10,846

342

-420

Accounts payable

1,705

10,142

-5,026

-3,302

-1,776

5,897

-3,769

1,975

8,006

-8,087

3,408

-809

5,202

5,514

4,213

3,476

-11,109

3,516

4,129

130

3,733

-5,261

3,165

-202

-1,151

2,204

4,226

-2,520

313

-1,434

348

-1,256

2,601

364

-24

527

1,782

Income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,826

2,164

-2,091

-1,415

244

1,499

-3,407

-3,357

-1,232

4,009

686

-190

333

Accrued compensation and benefits

-18,397

8,229

8,707

6,716

-13,695

8,579

2,836

4,681

-7,052

5,487

2,082

1,432

-8,665

1,104

1,056

2,761

-7,519

3,076

-962

-1,593

-4,485

6,079

2,753

3,904

-9,164

7,281

41

1,437

-8,830

6,002

1,495

3,716

-10,446

4,180

3,177

1,758

-7,442

Other assets

7,260

9,061

-737

3,892

10,047

3,893

4,017

6,548

9,758

4,484

2,912

6,848

8,157

-1,083

3,908

3,266

17,143

14,436

172

314

-2,917

11,412

459

1,254

-2,088

2,586

-1,078

1,291

2,423

-1,513

944

673

1,106

1,346

671

309

1,917

Other liabilities

-6,793

3,070

-2,659

2,483

1,654

2,345

-7,766

-1,915

821

5,891

248

-421

12,982

-3,591

757

-1,887

-1,770

5,470

50

-2,581

-1,987

-4,540

-3,905

-2,978

722

54

-1,052

-2,163

-7,566

12

-157

-3,982

-5,032

86

1,450

-2,239

2,448

Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities

-2,206

-

-

-

-4,941

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total operating

-

-

-

-

-

-9,050

1,474

-11,906

-14,365

25,884

-6,231

-9,889

-19,843

-6,985

-17,425

-15,100

14,293

-4,345

-4,792

-2,785

-8,497

-14,308

-12,644

2,367

-8,399

-17,084

-24,797

-8,149

5,020

-23,039

-18,666

-15,352

2,339

-51,418

-28,275

-10,843

-11,705

Net cash provided by (used in) operating activities

3,721

40,876

36,600

21,577

-3,920

24,703

4,351

20,625

25,022

20,812

13,428

16,028

15,298

13,693

24,762

17,984

-16,558

12,197

13,665

10,246

14,809

25,647

14,616

7,888

17,025

27,311

30,484

17,682

5,472

33,936

27,986

25,648

7,629

26,284

36,486

19,523

20,700

Cash flows from investing activities:
Purchases of property, plant and equipment

2,825

6,191

4,869

4,984

4,022

4,756

4,460

3,508

3,783

3,610

3,707

2,941

2,584

4,317

2,769

4,878

2,789

3,531

3,695

3,722

4,061

3,161

3,609

4,576

4,065

4,893

5,351

4,071

4,130

5,563

4,373

5,172

6,424

4,880

4,096

4,433

4,143

Payments related to business and asset acquisitions, net of cash acquired

3,852

2,668

0

0

364,928

0

0

0

0

-

-

-

-

-

-

-

256,424

3,249

0

5,251

853

4,020

1,245

0

0

-

-

-

-

-

-

-

-

4,119

0

0

72

Payments related to distribution agreement

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

18,727

0

64,116

-

-

-

-

Net cash used in investing activities

-6,677

-8,859

-4,869

-4,984

-368,950

-4,756

-4,460

-3,508

-3,783

-4,628

-17,136

-4,706

-2,584

-4,317

2,409

-4,904

-259,213

-6,780

-3,695

-8,973

-4,914

-7,181

-4,854

-4,576

-4,065

-4,893

-5,351

-4,071

-4,130

-7,137

-23,100

-5,172

-70,540

-8,999

-4,096

-4,433

-4,215

Cash flows from financing activities:
Net proceeds from common stock issued under employee plans

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

763

224

729

4,237

2,661

2,733

7,633

751

1,546

2,523

5,345

358

264

4,208

1,287

Repurchase of common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

16,862

5,827

0

18,997

25,732

3,923

0

0

0

-

-

-

-

Payments on term loan

3,313

3,312

3,312

3,313

144,375

3,281

3,281

3,282

3,281

2,187

2,188

2,187

2,188

2,186

2,188

2,188

2,188

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on senior credit agreement

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

0

21,525

31,725

338

-21,663

338

9,338

13,337

Proceeds from term loan

0

0

0

0

265,000

0

0

0

0

-

-

-

-

0

0

0

175,000

0

-19,000

2,000

17,000

-33,000

2,000

4,000

27,000

-9,000

-9,000

9,000

64,000

-7,000

23,000

7,000

50,000

58,000

0

0

0

Payments on revolving line of credit

41,000

49,000

42,000

51,000

342,000

49,000

32,000

38,000

49,000

59,000

30,000

32,000

36,000

32,001

41,361

29,990

58,995

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from revolving line of credit

59,000

22,000

27,000

44,000

299,000

49,000

47,000

33,000

24,000

40,000

44,000

33,000

38,000

33,000

25,000

30,000

137,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from convertible notes

0

0

0

0

345,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments related to distribution agreement

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

16,667

0

0

0

16,667

0

0

0

16,667

0

0

0

34,000

0

0

0

0

-

-

-

-

Payments related to contingent consideration

1,133

779

1,282

1,546

2,859

21,323

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments related to debt issuance costs

0

0

0

0

16,210

913

0

0

0

-

-

-

-

0

0

0

5,556

75

0

1,410

0

-

-

-

-

0

0

89

1,636

0

0

0

0

-

-

-

-

Dividends paid on common stock

5,683

5,673

5,658

5,643

5,626

5,624

5,621

5,606

5,592

5,585

5,584

5,572

5,566

5,564

5,561

5,546

5,542

5,540

5,539

5,516

5,510

5,504

5,468

5,442

5,545

4,128

4,123

4,189

4,256

4,272

4,262

4,328

0

-

-

-

-

Purchases of convertible notes hedges

0

0

0

0

51,198

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of warrants

0

0

0

0

30,567

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other, net

-5,132

626

1,828

-173

1,655

1,070

359

107

577

515

331

-706

-512

564

191

-728

-612

-6,702

-651

918

543

-904

1,363

1,719

138

-3,799

-4,115

5,465

1,625

-7,109

608

4,116

809

0

0

-3,485

337

Net cash provided by financing activities

2,739

-36,974

-23,424

-17,675

378,954

-31,645

6,457

-13,781

-33,296

-27,709

6,559

-7,465

-6,266

-7,326

-23,919

-8,652

222,440

2,633

-4,190

-6,431

-4,634

-13,784

-1,342

-57

-11,207

-17,534

-14,577

-6,819

7,634

-20,941

-633

-22,889

55,816

-30,838

-15,095

-9,053

-11,713

Effect of exchange rate changes on cash and cash equivalents

-1,330

745

-788

224

-188

-482

-58

-1,066

566

113

1,042

1,624

784

-1,570

401

-1,027

721

-872

-2,670

1,645

-5,864

-2,964

-4,220

841

122

-272

1,152

-1,028

-337

-1,957

-680

-795

501

-282

-1,743

355

750

Net increase (decrease) in cash and cash equivalents

-1,547

-4,212

7,519

-858

5,896

-12,180

6,290

2,270

-11,491

-11,412

3,893

5,481

7,232

480

3,653

3,401

-52,610

7,178

3,110

-3,513

-603

1,718

4,200

4,096

1,875

4,612

11,708

5,764

8,639

3,901

3,573

-3,208

-6,594

-13,835

15,552

6,392

5,522

Non-cash investing and financing activities:
Contractual obligations from asset acquisition

-

-

-

-

-

-17,489

0

15,849

10,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-