CITRIX SYSTEMS, INC. CTXS Cash Flow

Citrix systems, inc. (CTXS)

CashFlow / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09	Dec'08	Dec'07
Operating Activities
Net income
681,813	575,667	-20,719	536,112	319,361	251,723	339,523	352,547	355,630	276,441	191,017	178,276	214,483
Loss from discontinued operations
0	0	-42,704	66,257	104,228	84,504	-	-	-	-	-	-	-
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization and impairment of intangible assets
67,230	62,913	82,878	70,494	224,750	184,129	139,541	114,574	71,131	64,783	68,889	70,752	46,983
Depreciation and amortization of property and equipment
72,079	78,983	87,137	107,954	102,207	92,151	127,959	100,299	88,124	73,375	69,688	52,954	38,214
Amortization of debt discount and transaction costs
10,219	39,099	38,298	37,085	36,013	23,293	0	0	-	-	-	-	-
Amortization of deferred costs
44,829	38,144	0	0	-	-	-	-	-	-	-	-	-
Amortization of operating lease right-of-use assets
50,163	-	-	-	-	-	-	-	-	-	-	-	-
Stock-based compensation expense
278,892	203,619	165,120	152,739	128,262	153,942	183,941	149,940	92,909	103,758	111,419	124,615	65,491
Excess tax benefit from exercise of stock options
-	-	-	-	-	-	-	-	-	-60,164	-5,182	-5,559	-17,753
Deferred income tax (benefit) expense
-244,933	-13,156	94,158	-21,654	-85,235	-39,056	-51,848	-70,791	-16,229	-46,676	-50,850	-6,843	-634
In-process research and development
-	-	-	-	-	-	-	-	-	-	-	1,140	9,800
Loss on investments
-	-	-	-	-	-	-	14,477	-1,343	-2,014	67	-1,265	0
Benefit related to adjustment of payroll taxes
-	-	-	-	-	-	-	-	-	-	-	-6,428	0
Provision for doubtful accounts
-	-	-	-	-	-	-	1,784	266	2,035	1,734	1,613	2,578
Provision for product returns
-	-	-	-	-	-	-	10,743	5,541	2,717	3,292	2,103	3,517
Provision for inventory
-	-	-	-	-	-	-	1,022	1,570	2,876	1,961	674	3,351
Tax effect of stock-based compensation
-	-	-	-	-	-	-	-	50,003	-	-	-	-
Excess tax benefit from stock-based compensation
-	-	-	16,049	5,873	6,132	12,552	35,374	51,659	-51,544	7,913	-140	-15,529
Effects of exchange rate changes on monetary assets and liabilities denominated in foreign currencies
-2,631	-7,950	7,645	-5,189	-13,815	-5,233	-5,888	-1,706	-1,895	-1,984	2,019	1,041	-142
Goodwill adjustment
-	-	-	-	-	-	-	-	-	-	5,393	0	0
Other non-cash items
-10,630	-11,872	-11,924	-8,618	-6,767	-12,066	-5,417	-1,178	-4,733	-781	-4,988	2,940	2,231
Total adjustments to reconcile net income to net cash provided by operating activities
291,740	429,424	471,870	344,376	420,706	425,626	398,346	260,604	249,627	195,059	205,371	240,407	169,165
Changes in operating assets and liabilities, net of the effects of acquisitions:
Accounts receivable
38,994	-18,703	33,904	61,662	8,866	28,142	22,951	107,628	95,481	79,058	74,604	10,975	19,645
Inventories
-3,046	8,239	2,545	4,133	-703	1,167	5,591	2,024	3,097	1,192	-601	2,271	6,316
Prepaid expenses and other current assets
7,129	7,855	18,327	12,077	10,257	4,621	7,928	16,606	-1,407	37,319	3,055	-2,615	24,157
Other assets
74,152	33,638	-2,116	2,747	1,487	-1,650	-5,076	1,497	562	-3,785	487	10,335	6,829
Income taxes, net
-22,147	-56,988	318,795	42,431	48,675	-84,629	-7,374	71,255	25,180	37,501	-	-	-12,239
Deferred tax assets, net
-	-	-	-	-	-	-	-	-	-	-10,470	-1,206	-63,397
Accounts payable
8,994	6,804	-7,238	-16,365	6,408	1,338	3,092	-426	-11,758	9,612	4,613	-6,808	5,382
Accrued expenses and other current liabilities
-25,722	36,967	34,886	22,650	49,662	66,674	23,028	45,135	-20,996	49,938	62,900	-15,337	14,340
Deferred revenues
-38,780	69,499	174,426	142,381	102,330	144,644	201,455	216,798	168,994	160,121	85,373	90,789	86,815
Other liabilities
4,401	5,001	2,282	22,459	8,900	5,827	1,667	369	10,178	1,404	1,775	-5,460	-62,121
Total changes in operating assets and liabilities, net of the effects of acquisitions
190,483	-30,254	-470,491	-132,937	-196,068	-101,574	-190,474	-205,376	-73,865	-144,792	-87,586	-43,424	-38,627
Net cash provided by operating activities of continuing operations
783,070	1,035,345	964,346	947,168	831,907	694,419	928,343	818,527	679,122	-	-	-	-
Net cash used in operating activities of discontinued operations
0	0	-56,070	168,662	202,641	151,562	-	-	-	-	-	-	-
Net cash provided by operating activities
783,070	1,035,345	908,276	1,115,830	1,034,548	845,981	-	-	-	616,292	483,974	462,107	422,275
Investing Activities
Purchases of available-for-sale investments
20,003	466,687	1,155,659	2,238,784	2,182,681	2,389,950	1,703,976	1,435,367	1,360,677	1,287,438	1,134,580	591,919	639,414
Proceeds from sales of available-for-sale investments
942,985	455,417	775,135	1,294,636	1,745,290	1,694,886	766,192	1,256,295	856,182	474,130	436,223	333,945	153,759
Proceeds from maturities of available-for-sale investments
178,070	468,145	466,900	632,517	637,052	406,334	504,314	437,991	652,939	433,792	284,916	348,839	305,278
Proceeds from cost method investments, net
-	-	-	-	-	425	5,243	24,252	-	-	-	-	-
Proceeds from repayments of trading securities
-	-	-	-	-	-	-	-	-	44,560	700	0	0
Proceeds from the sales of cost method investments
-	-	-	-	-	-	-	-	0	0	-	-	-
Purchases of property and equipment
63,454	69,354	80,901	85,035	97,566	124,610	162,889	122,958	111,932	75,376	76,246	181,046	85,919
Purchases of cost method investments
-	-	-	-	-	-	-	6,622	16,879	9,485	7,250	0	0
Cash paid for acquisitions, net of cash acquired
0	248,929	60,449	13,242	95,331	101,059	334,881	487,221	455,377	20,510	3,338	28,023	148,055
Cash paid for licensing agreements, patents and technology
3,500	3,210	7,379	25,940	10,795	13,419	12,153	27,760	15,437	16,715	3,290	40,418	3,250
Other
-1,651	3,202	-2,323	-1,181	-5,209	-	0	-3,450	0	0	-	-	-
Net cash (used in) provided by investing activities of continuing operations
1,035,749	132,180	-60,030	-434,667	1,178	-527,393	-938,150	-357,940	-451,181	-	-	-	-
Net cash used in investing activities of discontinued operations
0	0	-3,891	-49,537	-225,593	-42,064	-	-	-	-	-	-	-
Net cash provided by investing activities
1,035,749	132,180	-63,921	-484,204	-224,415	-569,457	-	-	-	-457,042	-502,865	-158,622	-417,601
Financing Activities
Proceeds from issuance of common stock under stock-based compensation plans
0	164	2,114	41,247	112,285	46,618	73,655	108,406	125,606	353,557	165,998	44,372	118,395
Purchase of convertible note hedges
-	-	-	-	-	184,288	0	0	-	-	-	-	-
Proceeds from issuance of warrants
-	-	-	-	-	101,775	0	0	-	-	-	-	-
Proceeds from term loan credit agreement, net of issuance costs
200,000	0	165,000	0	95,000	-	0	-	-	-	-	-	-
Repayment of term loan credit agreement
200,000	0	165,000	0	95,000	-	0	-	-	-	-	-	-
Proceeds from 2030 Notes, net of issuance costs
0	0	741,039	0	0	1,415,717	0	0	-	-	-	-	-
Repayment of acquired debt
0	-5,674	-4,000	0	-3,175	-4,065	-2,061	-24,346	-11,561	0	0	-	-
Excess tax benefit from stock-based compensation
-	-	-	16,049	5,873	6,132	12,552	35,374	51,659	60,164	5,182	5,559	17,753
Purchase of non-controlling interest
-	-	-	-	-	-	-	-	-17,207	0	0	-	-
Stock repurchases, net
453,853	1,261,153	1,174,957	28,689	755,704	1,640,885	406,326	251,008	424,849	433,739	214,944	256,458	259,970
Accelerated stock repurchase program
0	0	150,000	0	0	-	-	-	-	-	-	-	-
Cash paid for tax withholding on vested stock awards
89,213	71,593	80,040	66,638	46,336	33,672	31,013	20,170	13,262	6,298	1,773	0	-
Common stock cash dividends paid
182,947	46,799	0	0	-	-	-	-	-	-	-	-	-
Repayment on convertible debt
1,164,497	272,986	0	0	-	-	-	-	-	-	-	-	-
Transfer of cash to GoTo Business resulting from the separation
0	0	28,500	0	0	-	-	-	-	-	-	-	-
Payments on debt
-	-	-	-	-	-	-	-	-	-	-	-407	8,000
Other
-	-	-	-	-	-	912	1,962	-3,000	0	0	-	0
Net cash used in financing activities
-	-	-	-	-687,057	-292,668	-352,281	-149,782	-292,614	-	-	-	-
Net cash used in financing activities of discontinued operations
-	-	-	-	-4,394	-	-	-	-	-	-	-	-
Net cash used in financing activities
-1,890,510	-1,658,041	-694,367	-38,031	-691,451	-292,668	-	-	-	-26,316	-45,537	-206,934	-131,822
Effect of exchange rate changes on cash and cash equivalents
-1,314	-5,848	8,186	-5,157	-10,313	-4,447	-781	-492	1,807	1,785	-250	5,821	1,843
Change in cash and cash equivalents
-73,005	-496,364	158,174	588,438	108,369	-20,591	-362,869	310,313	-62,866	134,719	-64,678	102,372	-125,305
Supplemental Cash Flow Information
Non-cash financing activity-Fair value of stock issued in connection with acquisitions
-	-	-	-	-	-	-	-	-	-	-	-	232,275
Cash paid for income taxes
-	-	-	64,361	45,827	130,502	92,672	32,355	12,195	42,902	31,367	28,591	43,064
Cash paid for interest
-	-	-	7,847	8,215	5,027	127	305	139	276	211	196	247