COHERENT, INC. COHR Cash Flow

Coherent, inc. (COHR)

CashFlow / TTM

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
Cash flows from operating activities:
Net income (loss)
24,068	53,825	126,386	196,455	241,007	247,358	247,925	242,072	218,615	207,122	164,155	121,688	97,624	87,502	84,019	78,633	79,265	76,409	68,204	67,939	64,833	59,106	60,524	64,210	63,905	66,355	58,388	58,911	60,064	62,962	81,794	83,608	91,176	93,238	0	0	0
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
54,165	54,925	56,069	55,633	54,703	53,342	50,848	49,130	47,249	43,689	38,071	32,980	28,515	25,905	25,772	25,262	24,990	24,815	25,055	25,520	26,119	26,608	26,976	27,093	26,947	26,356	25,450	24,524	23,523	23,243	22,865	22,328	21,600	20,539	0	0	0
Amortization of intangible assets
58,660	61,460	62,139	58,739	60,039	60,039	61,853	62,105	63,568	60,556	46,552	33,132	18,446	8,450	8,269	8,213	8,156	8,244	8,488	8,914	9,328	9,593	9,735	10,057	11,031	9,767	8,749	7,748	5,951	6,406	-9,315	-9,187	-8,541	-8,082	0	0	0
Gain on business combination
-	-	-	-	-	-	-	-	-	5,416	5,416	5,416	5,416	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income taxes
-15,336	-14,930	-9,982	-1,925	1,981	16,607	-3,336	-53	-7,922	-19,752	-4,450	-9,737	-4,987	-9,770	-7,830	-11,298	-9,642	838	242	376	424	-8,185	-3,997	-485	-2,453	-1,107	-2,893	-7,554	-4,511	-4,763	2,745	14,001	13,466	22,089	0	0	0
Amortization of debt issuance cost
4,185	4,647	5,124	4,906	7,038	9,565	12,483	12,716	10,417	7,202	2,970	1,707	600	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Tax benefit from employee stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Loss on disposal of property and equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Stock-based compensation
36,382	36,466	35,204	34,132	33,538	32,738	31,263	29,572	27,845	26,272	24,414	23,211	21,915	20,157	19,316	18,192	17,587	18,232	18,427	18,529	18,419	18,897	18,822	18,795	18,765	18,891	18,281	17,768	17,287	16,315	15,752	15,062	14,063	12,963	0	0	0
Excess tax benefits from stock-based compensation arrangements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,264	3,458	4,457	5,114	5,111	0	0	0
Non-cash restructuring charges
13,132	12,609	12,403	1,130	892	1,246	3,008	2,565	2,510	6,439	4,395	4,313	4,359	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating Lease, Right-of-Use Asset, Amortization
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other non-cash expense
193	421	3,251	1,875	935	559	1,450	1,918	1,522	1,443	1,149	384	342	963	147	922	1,051	526	980	958	972	1,364	506	-631	201	-353	-815	220	-1,865	-192	328	-44	1,277	68	0	0	0
Changes in assets and liabilities, net of effect of acquisitions:
Accounts receivable
-92,763	-82,078	-65,590	12,245	22,166	47,020	56,517	43,933	58,152	52,516	36,849	14,990	9,462	17,525	-1,343	21,873	16,505	10,099	26,577	-2,824	22,185	5,191	-16,956	3,261	-4,528	-4,226	8,317	10,919	-5,145	5,146	2,423	-6,395	18,546	26,185	0	0	0
Inventories
-26,439	-17,805	-8,463	21,094	71,496	78,123	100,353	76,059	34,160	11,419	8,014	29,683	45,382	55,708	39,584	21,123	2,374	-6,054	-5,383	-6,366	-122	6,890	5,926	3,965	150	-4,260	-1,878	3,723	10,325	9,767	19,531	21,657	26,790	38,570	0	0	0
Prepaid expenses and other assets
-9,457	-14,074	-9,344	-8,490	-868	6,695	8,177	5,926	7,172	4,367	3,948	3,632	4,863	4,855	-14,336	-7,016	-3,051	2,048	-2,340	-5,853	-12,241	-11,635	-8,166	-12,207	-5,153	-10,128	-5,951	5,433	2,254	5,294	5,903	3,662	12,976	8,098	0	0	0
Other long-term assets
6,352	549	662	1,639	1,995	7,692	4,812	4,223	5,044	2,762	4,294	5,828	1,588	1,552	-895	-2,204	-413	-802	1,445	840	2,029	3,489	2,145	2,971	1,418	-34	1,898	-431	22	-147	-4,421	-2,913	-320	1,194	0	0	0
Accounts payable
-19,107	-15,160	-18,438	-24,125	-9,676	-9,736	5,225	13,191	11,513	8,276	6,446	10,891	15,426	9,735	10,183	7,959	2,106	1,000	2,201	332	-1,995	-2,295	-8,226	-5,951	903	6,116	1,144	868	-6,173	-10,443	-6,091	-6,547	-7,563	-161	0	0	0
Income taxes payable/receivable
-100,534	-119,929	-124,659	-49,533	-51,119	474	48,221	74,781	97,999	66,820	38,462	14,259	1,381	7,384	2,282	9,091	5,093	-6,759	-9,365	-16,770	-14,289	-11,373	-10,582	-24,951	-24,525	-20,574	-18,542	11,349	878	-6,922	-18,638	-20,112	-2,624	4,272	0	0	0
Increase (Decrease) in Operating Liabilities
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other current liabilities
-326	-13,155	10,077	-21,916	-24,169	-42,820	-62,025	-41,163	-9,789	47,458	65,991	73,886	53,700	30,661	-9,035	-12,450	-6,650	5,623	-1,347	6,984	1,315	-580	-143	-5,848	-9,991	-11,185	-8,695	2,154	1,806	-5,360	-157	-10,667	4,352	8,712	0	0	0
Other long-term liabilities
20,545	15,745	1,824	1,668	1,103	4,523	2,072	3,726	4,572	3,314	7,616	7,082	3,439	3,952	689	-1,043	1,147	120	2,674	2,290	2,422	4,907	4,006	4,555	4,382	1,902	3,151	846	852	707	-2,437	43	788	2,543	0	0	0
Cash flows from discontinued operations
-	-	-	-	-	-	-	-	-3,606	-4,891	-918	-1,301	-1,283	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by operating activities
190,131	181,401	238,482	229,635	222,442	236,111	231,827	322,556	366,455	384,116	335,960	254,104	173,678	105,299	110,244	89,598	107,669	124,458	95,317	127,375	93,753	91,379	113,660	89,516	96,876	115,522	87,819	102,449	95,959	64,771	76,153	83,578	72,842	86,676	0	0	0
Cash flows from investing activities:
Purchases of property and equipment
71,642	83,283	85,278	87,331	90,211	90,757	84,412	79,182	72,067	63,774	66,369	62,614	59,952	49,327	34,286	26,209	21,790	22,163	21,715	21,605	21,736	23,390	24,484	25,491	24,879	21,988	20,804	26,968	31,813	36,051	40,282	40,450	40,127	37,117	0	0	0
Proceeds from dispositions of property and equipment
5,989	5,294	6,895	8,646	4,379	4,405	3,689	1,899	1,856	1,953	1,135	519	628	555	-263	369	645	1,163	2,016	1,059	971	585	1,768	1,888	1,664	1,482	411	374	254	280	17	322	381	355	0	0	0
Purchases of available-for-sale securities
6,552	11,552	11,671	33,037	44,548	54,442	86,772	65,287	47,343	32,449	0	96,213	130,691	180,842	218,602	219,517	318,963	312,592	394,060	368,212	276,964	280,408	219,105	201,244	211,825	228,231	225,950	214,574	295,223	244,186	246,815	276,113	172,492	230,992	0	0	0
Proceeds from sales and maturities of available-for-sale securities
11,551	11,552	9,556	58,682	77,196	86,786	86,892	28,307	9,821	25,218	213,205	278,696	306,912	333,058	220,981	250,093	319,943	346,059	316,189	282,520	219,195	193,430	185,994	168,302	168,440	245,361	232,576	233,235	239,038	140,700	187,804	218,131	206,252	195,570	0	0	0
Acquisition of businesses, net of cash acquired
0	18,881	18,881	18,881	64,329	45,448	45,448	45,448	0	740,481	740,481	740,481	740,481	0	0	0	0	-	-	-	-	-	-	-	-	67,289	70,976	70,976	70,976	3,687	0	0	0	-	-	-	-
Investment at cost
0	3,423	3,423	3,423	3,423	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale of discontinued operation
-	-	-	-	-	25,000	25,000	25,000	25,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Cash flows from discontinued operations
-	-	-	-	-	-	-	-	-	-755	-649	-316	-153	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities
-60,654	-100,293	-102,802	-69,094	-114,216	-67,736	-94,437	-134,680	-83,335	-810,288	-593,159	-620,409	-623,737	103,444	-41,470	-4,564	-29,465	3,167	-97,570	-106,238	-78,534	-109,783	-55,827	-56,545	-66,600	-70,665	-84,743	-78,909	-158,720	-142,944	-98,815	-97,004	-19,401	-85,667	0	0	0
Cash flows from financing activities:
Short-term borrowings
0	-	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0
Repayments of short-term borrowings
97,556	111,794	93,753	102,031	116,605	90,751	67,297	39,074	7,521	30,819	29,240	33,700	46,552	34,792	49,167	49,036	39,347	38,729	40,762	44,216	51,887	61,499	56,268	54,286	41,871	20,717	9,540	3,199	4,476	9,262	10,055	10,742	6,845	2,344	0	0	0
Proceeds from long-term borrowings
-	-	-	-	-	-	-	-	-	740,685	740,685	740,685	740,685	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of long-term borrowings
7,586	7,537	7,993	8,482	83,137	171,593	260,040	310,144	267,772	179,580	88,826	36,349	2,171	0	0	0	0	-	-	-	-	2	6	11	15	17	17	16	15	15	14	15	17	18	0	0	0
Issuance of common stock under employee stock option and purchase plans
11,854	11,811	11,811	11,379	11,379	10,574	10,574	9,144	9,144	8,111	8,711	8,029	8,194	7,849	7,301	7,293	7,392	7,308	7,428	7,348	7,312	10,685	11,346	11,273	18,639	16,541	17,459	17,874	13,432	13,288	13,825	16,471	21,957	34,720	0	0	0
Net settlement of restricted common stock
13,511	15,179	15,195	15,211	15,517	36,320	36,319	36,292	36,108	15,717	15,719	15,774	15,381	5,443	5,421	5,411	5,419	5,302	5,313	5,357	5,353	7,811	7,800	7,813	7,782	4,170	4,186	4,152	4,170	4,537	4,541	4,548	5,633	3,306	0	0	0
Excess tax benefits from stock-based compensation arrangements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,264	3,458	4,457	5,114	5,111	0	0	0
Cash dividend paid on common stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-
Repurchase of common stock
51,899	77,400	77,410	151,406	125,501	100,000	0	0	0	-	-	-	-	-	-	-	-	75,027	25,009	25,009	17,298	0	0	0	0	-	-	-	-	24,999	83,698	93,905	121,302	100,637	0	0	0
Debt issuance costs
-	-	-	-	-	-	-	-	-	26,367	29,039	28,957	31,026	5,202	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by (used in) financing activities
-95,094	-80,515	-51,209	-124,907	-174,519	-298,998	-385,378	-336,608	-294,691	505,988	592,478	660,048	695,301	17,204	-29,788	-45,273	-50,756	-73,021	-23,706	-22,994	-15,315	2,896	4,376	3,449	10,842	-11,686	-12,235	-15,997	-19,544	-14,999	-70,970	-77,540	-99,881	-64,130	0	0	0
Effect of exchange rate changes on cash, cash equivalents and restricted cash
-143	-5,977	-980	-8,724	-5,161	-2,419	8,375	26,245	37,371	22,924	0	0	0	-	-	-	-14,525	-15,214	-20,471	-23,313	-8,859	-3,719	6,048	10,227	9,261	9,512	7,890	-3	2,639	-6,128	-23,469	-23,087	-13,413	-15,198	0	0	0
Net increase in cash, cash equivalents and restricted cash
34,240	-5,384	83,491	26,910	-71,454	-133,042	-239,613	-122,487	25,800	102,740	346,484	288,874	231,649	223,740	36,269	42,095	12,923	39,390	-46,430	-25,170	-8,955	-19,227	68,257	46,647	50,379	42,683	-1,269	7,540	-79,666	-99,300	-117,101	-114,053	-59,853	-78,319	0	0	0
Cash paid during the year for:
Interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	86	122	102	100	108	0	0	0
Income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	49,755	46,507	48,647	39,136	17,291	0	0	0
Cash received during the year for:
Income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	11,855	10,720	9,917	11,004	5,250	0	0	0
Non-cash investing and financing activities:
Unpaid property and equipment purchases
6,094	4,406	5,808	8,165	8,405	6,176	6,600	3,837	2,966	3,197	2,904	2,414	6,077	3,492	3,022	4,397	2,117	1,425	0	0	0	-	-	-	-	-	-	-	-	1,031	1,963	2,283	2,378	1,334	0	0	0
Use of previously owned equity shares in acquisition
-	-	-	-	-	-	-	-	-	20,685	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-