CONMED CORPORATION CNMD Cash Flow

Conmed corporation (CNMD)

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
Cash flows from operating activities:
Net income
33,526	28,620	29,339	28,194	31,218	40,854	71,897	73,269	70,689	55,487	15,499	15,639	12,384	14,664	15,808	17,344	21,921	30,498	33,985	27,084	29,878	32,192	31,080	34,795	34,073	35,939	36,609	40,242	41,005	40,481	4,450	3,341	1,725	752	0	0	0
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation
18,892	18,688	18,874	18,491	18,470	18,530	18,967	19,327	19,715	20,079	20,230	20,296	20,359	20,479	20,027	19,449	19,057	18,704	19,009	19,515	19,857	19,792	19,654	18,958	18,602	18,653	18,318	18,529	18,566	18,635	18,837	18,810	18,791	18,519	0	0	0
Amortization of debt discount
9,056	8,302	6,038	3,774	1,510	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,903	0	0	0
Amortization of deferred debt issuance costs
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization
55,203	53,635	51,274	47,815	43,690	42,231	41,687	40,477	39,118	37,427	36,931	35,922	35,616	34,830	32,754	30,640	27,910	25,175	25,013	24,996	25,179	25,942	26,692	27,397	28,404	29,214	29,069	28,839	27,967	27,981	26,253	24,198	22,559	20,265	0	0	0
Stock-based compensation
12,129	11,800	11,354	10,858	10,400	10,000	9,625	9,232	8,848	8,500	8,210	8,013	7,841	8,375	8,443	8,303	8,132	7,499	7,200	10,591	10,001	9,330	9,182	5,615	5,626	5,593	5,640	5,575	5,622	5,653	5,641	5,582	5,397	5,240	0	0	0
Deferred income taxes
-4,353	-6,310	-2,175	-4,309	-1,900	2,063	-36,160	-35,628	-36,491	-40,021	-4,023	-2,804	-4,195	-2,871	-5,885	-4,267	-1,944	2,251	4,996	-1,945	-2,356	-284	-705	6,017	8,629	7,218	7,996	11,893	12,125	12,946	-13,307	-15,988	-14,988	-13,098	0	0	0
Loss on early extinguishment of debt
0	-300	-300	-300	-300	0	0	0	0	-	-	-	-	-	-254	-254	-254	0	0	0	0	-	-	-	-	-300	-263	-263	-263	0	0	0	0	-	-	-	-
Increase (decrease) in cash flows from changes in assets and liabilities:
Accounts receivable
8,619	13,943	11,065	14,031	13,872	17,460	15,480	16,423	13,728	13,631	11,505	5,011	7,566	6,380	-1,382	1,143	-5,590	9,643	8,134	3,900	9,186	-5,255	-4,090	-7,475	-6,796	798	-3,588	-25	-10,347	-1,687	-629	-11,978	-2,756	-8,464	0	0	0
Inventories
459	117	17,005	25,832	22,393	15,037	5,541	7,512	5,167	3,926	8,093	874	-968	-3,103	-5,682	6,029	18,665	18,581	5,555	-711	-332	10,449	26,259	19,399	8,895	1,817	-665	849	3,812	-3,810	-482	4,850	5,506	7,850	0	0	0
Accounts payable
3,519	38	-4,207	-2,950	2,327	12,109	-1,875	5,302	2,518	-286	13,315	14,120	18,405	2,094	96	12	-3,334	11,508	2,731	1,767	1,435	-3,449	4,016	5,077	2,759	4,223	585	-3,293	-2,029	259	2,057	1,685	3,468	2,649	0	0	0
Income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	484	-1,098	-1,763	-3,079	-5,021	-6,497	-3,987	106	3,273	4,838	0	0	0
Accrued compensation and benefits
5,255	9,957	10,307	4,436	2,401	9,044	5,952	5,198	1,949	336	-4,047	-5,073	-3,744	-2,598	-626	-2,644	-6,998	-3,964	-961	2,754	8,251	3,572	4,774	2,062	-405	-71	-1,350	104	2,383	767	-1,055	627	-1,331	1,673	0	0	0
Other assets
19,476	22,263	17,095	21,849	24,505	24,216	24,807	23,702	24,002	22,401	16,834	17,830	14,248	23,234	38,753	35,017	32,065	12,005	8,981	9,268	10,208	11,037	2,211	674	711	5,222	1,123	3,145	2,527	1,210	4,069	3,796	3,432	4,243	0	0	0
Other liabilities
-3,899	4,548	3,823	-1,284	-5,682	-6,515	-2,969	5,045	6,539	18,700	9,218	9,727	8,261	-6,491	2,570	1,863	1,169	952	-9,058	-13,013	-13,410	-10,701	-6,107	-3,254	-2,439	-10,727	-10,769	-9,874	-11,693	-9,159	-9,085	-7,478	-5,735	1,745	0	0	0
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total operating
-	-	-	-	-	-33,847	1,087	-6,618	-4,601	-10,079	-42,948	-54,142	-59,353	-25,217	-22,577	-9,944	2,371	-20,419	-30,382	-38,234	-33,082	-32,984	-35,760	-47,913	-58,429	-45,010	-50,965	-44,834	-52,037	-54,718	-83,097	-92,706	-88,197	-102,241	0	0	0
Net cash provided by (used in) operating activities
102,774	95,133	78,960	46,711	45,759	74,701	70,810	79,887	75,290	65,566	58,447	69,781	71,737	39,881	38,385	27,288	19,550	50,917	64,367	65,318	62,960	65,176	66,840	82,708	92,502	80,949	87,574	85,076	93,042	95,199	87,547	96,047	89,922	102,993	0	0	0
Cash flows from investing activities:
Purchases of property, plant and equipment
18,869	20,066	18,631	18,222	16,746	16,507	15,361	14,608	14,041	12,842	13,549	12,611	14,548	14,753	13,967	14,893	13,737	15,009	14,639	14,553	15,407	15,411	17,143	18,885	18,380	18,445	19,115	18,137	19,238	21,532	20,849	20,572	19,833	17,552	0	0	0
Payments related to business and asset acquisitions, net of cash acquired
6,520	367,596	364,928	364,928	364,928	0	0	0	0	-	-	-	-	-	-	-	264,924	9,353	10,124	11,369	6,118	5,265	0	0	0	-	-	-	-	-	-	-	-	4,191	0	0	0
Payments related to distribution agreement
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-
Net cash used in investing activities
-25,389	-387,662	-383,559	-383,150	-381,674	-16,507	-16,379	-29,055	-30,253	-29,054	-28,743	-9,198	-9,396	-266,025	-268,488	-274,592	-278,661	-24,362	-24,763	-25,922	-21,525	-20,676	-18,388	-18,885	-18,380	-18,445	-20,689	-38,438	-39,539	-105,949	-107,811	-88,807	-88,068	-21,743	0	0	0
Cash flows from financing activities:
Net proceeds from common stock issued under employee plans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,953	7,851	10,360	17,264	13,778	12,663	12,453	10,165	9,772	8,490	10,175	6,117	0	0	0
Repurchase of common stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	16,862	22,689	22,689	41,686	50,556	48,652	48,652	29,655	3,923	0	0	0	-	-	-	-
Payments on term loan
13,250	154,312	154,281	154,250	154,219	13,125	12,031	10,938	9,843	8,750	8,749	8,749	8,750	8,750	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments on senior credit agreement
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	53,588	31,925	10,738	-11,649	1,350	0	0	0
Proceeds from term loan
0	265,000	265,000	265,000	265,000	0	0	0	0	-	-	-	-	175,000	175,000	156,000	158,000	0	-33,000	-12,000	-10,000	0	24,000	13,000	18,000	55,000	57,000	89,000	87,000	73,000	138,000	115,000	108,000	58,000	0	0	0
Payments on revolving line of credit
183,000	484,000	484,000	474,000	461,000	168,000	178,000	176,000	170,000	157,000	130,001	141,362	139,352	162,347	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from revolving line of credit
152,000	392,000	419,000	439,000	428,000	153,000	144,000	141,000	141,000	155,000	148,000	129,000	126,000	225,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from convertible notes
0	345,000	345,000	345,000	345,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments related to distribution agreement
-	-	-	-	-	-	-	-	-	-	-	-	-	16,667	16,667	16,667	16,667	16,667	16,667	16,667	16,667	16,667	16,667	16,667	16,667	34,000	34,000	34,000	34,000	0	0	0	0	-	-	-	-
Payments related to contingent consideration
4,740	6,466	27,010	25,728	24,182	21,323	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments related to debt issuance costs
0	16,210	17,123	17,123	17,123	913	0	0	0	-	-	-	-	5,556	5,631	5,631	7,041	1,485	0	0	0	-	-	-	-	1,725	1,725	1,725	1,636	0	0	0	0	-	-	-	-
Dividends paid on common stock
22,657	22,600	22,551	22,514	22,477	22,443	22,404	22,367	22,333	22,307	22,286	22,263	22,237	22,213	22,189	22,167	22,137	22,105	22,069	21,998	21,924	21,959	20,583	19,238	17,985	16,696	16,840	16,979	17,118	12,862	0	0	0	-	-	-	-
Purchases of convertible notes hedges
0	51,198	51,198	51,198	51,198	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of warrants
0	30,567	30,567	30,567	30,567	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other, net
-2,851	3,936	4,380	2,911	3,191	2,113	1,558	1,530	717	-372	-323	-463	-485	-585	-7,851	-8,693	-7,047	-5,892	-94	1,920	2,721	2,316	-579	-6,057	-2,311	-824	-4,134	589	-760	-1,576	5,533	4,925	-2,676	-3,148	0	0	0
Net cash provided by financing activities
-75,334	300,881	306,210	336,091	339,985	-72,265	-68,329	-68,227	-61,911	-34,881	-14,498	-44,976	-46,163	182,543	192,502	212,231	214,452	-12,622	-29,039	-26,191	-19,817	-26,390	-30,140	-43,375	-50,137	-31,296	-34,703	-20,759	-36,829	11,353	1,456	-13,006	830	-66,699	0	0	0
Effect of exchange rate changes on cash and cash equivalents
-1,149	-7	-1,234	-504	-1,794	-1,040	-445	655	3,345	3,563	1,880	1,239	-1,412	-1,475	-777	-3,848	-1,176	-7,761	-9,853	-11,403	-12,207	-6,221	-3,529	1,843	-26	-485	-2,170	-4,002	-3,769	-2,931	-1,256	-2,319	-1,169	-920	0	0	0
Net increase (decrease) in cash and cash equivalents
902	8,345	377	-852	2,276	-15,111	-14,343	-16,740	-13,529	5,194	17,086	16,846	14,766	-45,076	-38,378	-38,921	-45,835	6,172	712	1,802	9,411	11,889	14,783	22,291	23,959	30,723	30,012	21,877	12,905	-2,328	-20,064	-8,085	1,515	13,631	0	0	0
Non-cash investing and financing activities:
Contractual obligations from asset acquisition
-	-	-	-	-	8,360	25,849	25,849	10,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-