CREE, INC. CREE Cash Flow

Cree, inc. (CREE)

CashFlow / Quarterly

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	Dec'10	Sep'10	Jun'10	Mar'10	Dec'09	Sep'09
Operating activities:
Net loss from continuing operations
-61,400	-52,500	-37,800	-351,800	-22,300	-200	-800	-33,247	-240,533	13,753	-19,873	-5,870	-99,013	6,217	566	-10,641	152	13,442	-24,489	-88,100	127	12,151	11,130	29,148	28,164	35,681	30,497	28,242	22,157	20,403	16,123	10,026	9,489	12,078	12,819	19,808	18,881	49,775	58,036	52,848	44,630	33,786	21,026
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization
31,600	30,700	28,600	50,500	32,200	31,400	29,500	40,656	38,610	37,234	37,400	37,041	50,885	26,635	35,939	39,225	38,174	40,386	41,360	42,152	44,028	43,808	43,335	43,791	40,608	40,130	39,481	38,931	37,975	39,921	36,474	37,854	36,552	36,175	32,128	30,149	28,138	25,922	24,396	23,551	22,295	22,040	22,538
Amortization of debt issuance costs and discount
5,800	5,800	5,600	5,600	5,500	5,400	1,800	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Stock-based compensation
11,400	13,000	16,900	43,500	13,500	11,000	10,000	9,881	11,157	12,027	10,135	9,283	11,561	12,206	14,650	14,410	14,856	14,388	15,074	15,039	16,064	16,437	16,759	15,425	16,011	15,672	14,578	12,954	13,916	14,544	12,485	11,509	12,249	11,195	11,440	9,947	10,312	9,977	8,004	6,633	5,753	6,069	5,612
Excess tax benefit from stock-based payment arrangements
-	-	-	-	-	-	-	-	-	-	-	-	0	-11	12	0	0	9	3	-261	5	203	1,448	839	3,543	9,187	5,666	7,754	3,519	75	42	14	62	-60	261	-11	875	6,303	2,974	4,941	1,255	13,454	2,072
Loss on disposal or impairment of long-lived assets
-300	-800	-1,000	2,500	-5,000	-200	-500	-1,897	-1,716	-4,263	-2,824	-1,155	-500	-520	-325	-430	104	-2,014	-14,573	-44,081	-1,459	-735	-1,447	-909	-364	-760	-657	-1,088	-863	-624	-898	-1,393	-816	-497	-775	-646	-405	-429	-472	-452	-3,286	-110	-293
Amortization of premium/discount on investments
-400	-100	0	-400	-400	-800	-800	-857	-1,312	-1,321	-1,310	-1,250	-1,401	-1,367	-1,382	-1,214	-1,353	-1,386	-1,361	-1,343	-1,272	-1,125	-2,412	-2,484	-2,631	-2,608	-2,435	-2,428	-2,331	-2,480	-2,264	-2,231	-2,082	-2,095	-1,922	-3,985	-4,094	-3,858	-3,759	-3,731	-3,230	-3,246	705
Provision for doubtful accounts
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-104	-195	146
Gain on sale of investment in securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1	0
Loss on equity investment
-19,100	6,400	3,500	-3,800	-3,800	-1,900	-6,700	-410	-13,969	24,746	-3,267	7,356	6,442	-8,785	2,487	-1,645	-790	7,026	-19,948	-19,633	-3,670	679	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Foreign exchange (gain) loss on equity investment
-100	1,400	-100	-400	-400	100	-600	-1,943	1,871	473	199	164	2,002	-939	1,373	163	580	236	-3,036	363	1,446	-2,156	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income taxes
1,600	-2,400	0	1,300	2,900	-2,300	-2,300	9,875	-38,074	-14,934	3,133	3,558	71,298	-10	54	-16,376	477	-919	979	-19,617	-1,729	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Changes in operating assets and liabilities:
Accounts receivable, net
23,700	-600	8,800	-85,900	63,300	-7,100	7,400	10,528	-9,931	-1,793	5,996	-920	-2,433	-22,874	9,227	-13,206	-4,711	-10,289	6,406	-30,274	-2,008	-17,589	12,018	2,822	8,800	4,416	16,613	10,806	37,307	-17,737	10,054	-15,956	12,348	-8,752	21,725	-7,579	-8,386	11,550	5,378	-8,088	12,275	621	9,747
Inventories
4,600	-18,000	-5,000	23,100	1,500	10,800	7,900	-15,640	15,979	-4,379	-6,960	1,564	-10,774	-12,098	10,808	5,752	17,896	-8,807	8,428	-18,629	-32,601	22,028	25,674	33,501	16,879	16,850	19,782	1,540	10,720	5,148	-9,002	-7,720	9,388	-16,141	-12,431	6,662	23,917	19,344	13,527	5,221	13,556	7,067	7,285
Prepaid expenses and other assets
5,900	100	-7,900	-8,400	6,900	-1,200	-1,100	7,441	2,973	4,309	-9,323	-5,922	-8,743	-4,657	1,922	-22,895	26,817	-12,797	772	13,387	-7,732	2,281	3,176	5,082	-19,156	-30,850	36,998	19,123	2,828	614	3,030	14,360	1,751	-6,944	-1,811	21,386	14,003	-1,557	-434	13,780	2,299	1,829	176
Accounts payable, trade
-4,700	7,200	-21,700	-12,000	17,900	-2,900	3,400	-1,028	-2,597	11,483	6,442	6,091	2,943	-11,723	-2,111	6,189	-9,491	-8,329	-459	24,534	-24,546	-42,620	-2,164	37,281	-11,485	17,541	22,960	8,305	18,914	4,901	9,680	-9,675	14,493	-1,215	-13,708	395	-4,469	7,330	15,186	-5,798	25,333	-8,206	4,388
Accrued salaries and wages and other liabilities
6,300	-6,400	-20,500	-53,400	69,500	7,700	4,200	19,117	-2,512	9,898	-603	-321	-9,643	22,016	-11,852	-1,729	9,342	-10,028	-8,940	13,076	-15,842	-11,422	-17,319	-1,227	-6,044	-14,038	37,687	8,194	3,994	-2,165	11,886	9,063	-3,792	-12,130	4,013	19,986	5,608	4,413	-110	40,268	-2,107	8,889	5,914
Accrued contract liabilities
-2,700	1,200	7,200	-10,300	12,700	18,300	900	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash (used in) provided by operating activities of continuing operations
-27,700	8,200	-20,000	-	69,900	68,700	41,100	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by operating activities of discontinued operations
0	0	0	-	-8,600	14,200	3,700	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash (used in) provided by operating activities
-27,700	8,200	-20,000	13,300	61,300	82,900	44,800	48,077	19,611	51,689	54,123	57,346	43,438	101,618	18,098	64,553	14,967	76,962	46,834	87,555	65,647	14,768	13,284	91,138	60,183	98,751	69,236	61,164	45,776	92,608	85,686	71,703	48,340	80,592	41,645	64,458	41,166	57,238	88,518	94,938	72,932	21,511	61,188
Investing activities:
Purchases of property and equipment
67,900	59,000	42,000	49,100	30,100	32,200	31,000	57,267	43,211	48,772	36,450	30,005	21,684	15,874	19,337	20,326	17,888	31,921	49,883	47,883	44,902	49,929	63,446	58,943	36,164	49,770	33,680	22,062	24,976	17,833	12,597	19,809	22,168	19,076	33,962	47,852	62,846	64,738	61,649	40,786	66,012	41,437	20,389
Purchases of patent and licensing rights
1,900	2,200	1,100	3,600	3,200	1,400	2,400	2,187	2,981	2,456	2,476	3,524	3,040	3,584	2,252	3,409	3,406	3,314	4,314	4,941	4,946	4,798	4,806	5,428	4,709	5,277	4,769	5,064	5,773	4,473	5,548	5,245	3,916	3,884	4,159	3,931	3,622	3,127	2,072	1,899	2,563	2,669	2,142
Proceeds from sale of property and equipment
100	1,700	0	0	100	0	200	62	158	53	327	289	875	71	165	97	2,823	2,373	3	163	62	17	43	0	23	94	0	0	0	254	47	247	3	0	2	204	0	0	1	18	-92	111	191
Purchases of short-term investments
129,900	161,300	134,000	265,500	41,000	64,900	145,800	26,077	16,296	40,720	117,607	30,986	44,392	18,273	106,749	28,095	23,531	47,569	121,628	94,919	58,991	24,825	171,067	115,419	163,602	150,487	196,312	190,583	169,857	184,426	179,601	110,835	88,820	64,928	80,874	73,048	114,600	77,758	117,114	79,292	225,374	294,722	61,435
Proceeds from maturities of short-term investments
129,900	119,600	93,000	31,000	62,600	25,500	58,300	57,429	28,336	18,507	119,928	13,593	18,995	15,667	77,645	83,750	34,368	57,285	137,121	82,471	96,868	113,505	126,958	128,283	113,985	134,510	116,510	95,138	102,986	116,250	78,504	58,620	61,765	23,450	42,590	28,305	76,796	79,931	67,571	42,730	38,761	14,345	25,972
Proceeds from sale of short-term investments
38,000	33,000	31,800	18,200	1,500	1,900	24,800	19	165,043	9,964	1,974	13,587	5,994	2,471	5,148	10,812	11,910	10,709	8,643	12,244	15,398	187,486	4,667	66,503	10,092	0	12,295	13,218	12,264	10,939	12,886	3,010	22,301	15,634	236,518	11,216	16,425	31,772	30,061	-	-	-	-
Net cash used in investing activities of continuing operations
-31,700	-68,200	-52,300	-	-10,100	-71,100	-95,900	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities of discontinued operations
0	0	0	-	-3,600	-5,400	-6,400	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment of COTCO contingent consideration
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	57,050
Purchase of acquired business, net of cash acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	12,513	0	0	0	0	-	-	-	-	-	-	-	-	-1,403	0	0	456,008	0	0	0	0	-	-	-	-
Cash used in investing activities
-31,700	-68,200	-52,300	-34,600	-13,700	-76,500	-102,300	-30,101	-296,071	-63,424	-34,304	-37,046	-43,252	-19,522	-45,380	42,829	4,276	-12,437	-42,571	-52,865	3,489	140,890	-107,651	14,996	-80,375	-70,930	-105,956	-109,353	-85,356	-79,289	-106,309	-72,609	-30,835	-48,804	-295,893	-85,106	-101,006	-33,920	-83,202	-69,909	-254,253	-324,372	-114,853
Financing activities:
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability
-	-	-	-	-	-	-	-	0	0	-1,850	-	0	0	-2,775	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuing Cree Venture LED stock to noncontrolling interest
-	-	-	-	-	-	-	0	0	0	4,900	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from long-term debt borrowings
0	0	0	0	0	0	95,000	115,000	395,000	65,000	95,000	95,000	128,000	135,000	110,000	115,000	170,000	173,000	195,000	255,000	175,000	205,000	60,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments on long-term debt borrowings, including finance lease obligations
300	100	0	0	0	0	387,000	139,000	203,000	82,000	99,000	103,000	145,000	152,000	83,000	180,000	150,000	175,000	188,000	205,000	175,000	100,000	15,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from convertible notes
0	0	0	0	0	0	575,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments of debt issuance costs
0	0	0	0	0	0	12,900	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment of Financing and Stock Issuance Costs
-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net proceeds from issuance of common stock
1,700	10,700	18,600	74,700	53,200	14,600	15,500	30,360	15,690	46,431	119	7,540	2,139	7,615	406	8,361	3,382	7,138	2,801	10,097	5,743	8,980	12,109	10,530	16,397	44,338	28,741	52,877	35,175	2,891	5,286	977	1,387	554	2,094	789	3,639	23,287	6,690	20,239	44,625	75,986	457,227
Tax withholding on vested equity awards
1,500	1,500	13,200	9,200	500	1,100	10,800	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by financing activities of continuing operations
-100	9,100	5,400	-	52,700	13,500	274,800	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by financing activities of discontinued operations
0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefit from stock-based payment arrangements
-	-	-	-	-	-	-	-	-	-	-	-	0	-11	12	0	0	9	3	-261	5	203	1,448	839	3,543	9,187	5,666	7,754	3,519	75	42	14	62	-60	261	-11	875	6,303	2,974	4,941	1,255	13,454	2,072
Repurchases of common stock
-	-	-	-	-	-	-	-	-	-	-	-14	5,583	62,768	35,663	-2	17,806	62,145	69,604	159,589	69,739	266,024	54,325	99,592	0	107	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash provided by financing activities
-100	9,100	5,400	65,500	52,700	13,500	274,800	210	207,690	29,431	-831	-5,072	-20,444	-72,164	-11,020	-56,637	5,576	-56,998	-59,800	-99,753	-63,991	-151,841	4,232	-88,223	19,940	53,418	34,407	59,602	38,694	2,328	5,328	-10,990	1,449	494	2,355	778	4,514	29,590	9,664	25,180	45,880	89,440	459,299
Effects of foreign exchange changes on cash and cash equivalents
-100	200	-300	100	-100	-200	100	-515	308	-66	473	332	259	-680	-11	-153	157	-310	-804	45	-377	-157	-389	75	-298	267	126	218	-284	109	262	-276	452	196	468	55	182	66	172	266	-160	-13	203
Net change in cash and cash equivalents
-59,600	-50,700	-67,200	44,300	100,200	19,700	217,400	17,671	-68,462	17,630	19,461	15,560	-19,999	9,252	-38,313	50,592	24,976	7,217	-56,341	-65,018	4,768	3,660	-90,524	17,986	-550	81,506	-2,187	11,631	-1,170	15,756	-15,033	-12,172	19,406	32,478	-251,425	-19,815	-55,144	52,974	15,152	50,475	-135,601	-213,434	405,837
Significant non-cash transactions:
Accrued property and equipment
-	-	-	-	-	-	-	-	236	130	18,909	-	-997	5,137	3,103	-3,596	-364	-9,991	17,672	13,061	-9,022	2,804	17,400	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-