CITRIX SYSTEMS, INC. CTXS Cash Flow

Citrix systems, inc. (CTXS)

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	Dec'10	Sep'10	Jun'10	Mar'10	Dec'09	Sep'09	Jun'09	Mar'09
Operating Activities
Net income
752,687	681,813	640,418	528,418	541,756	575,667	126,060	93,923	95,919	-20,719	463,020	468,201	480,270	536,112	467,536	391,560	373,937	319,361	283,315	274,922	224,671	251,723	295,139	324,337	335,774	339,523	314,908	316,423	343,968	352,547	347,217	361,148	350,550	355,630	340,687	336,290	302,439	276,441	270,833	236,477	231,439	191,017	0	0	0
Loss from discontinued operations
-	-	-	-	-	-	-	-	-	-42,704	-21,429	-1,265	13,344	66,257	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization and impairment of intangible assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	141,174	139,541	137,213	135,265	122,699	114,574	101,399	87,740	81,925	71,131	67,998	64,762	64,476	64,783	67,138	67,918	68,311	68,889	0	0	0
Depreciation and amortization of property and equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	131,821	127,959	122,247	114,749	107,163	100,299	96,317	94,155	91,028	88,124	83,128	77,946	75,536	73,375	71,742	70,577	70,167	69,688	0	0	0
Amortization of debt discount and transaction costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation, amortization and other
0	-	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Stock-based compensation expense
271,981	278,892	261,836	245,606	233,130	203,619	182,207	181,200	166,035	165,120	164,687	153,798	151,486	152,739	139,859	137,687	130,112	128,262	129,176	132,954	147,452	153,942	175,075	178,519	181,086	183,941	178,324	172,534	162,939	149,940	138,240	123,091	105,582	92,909	83,443	89,322	96,715	103,758	110,845	107,904	108,198	111,419	0	0	0
Excess tax benefit from exercise of stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-56,934	-79,319	-62,085	-60,164	-41,337	-20,398	-18,258	-5,182	0	0	0
Deferred income tax (benefit) expense
-274,501	-244,933	-200,237	-42	2,677	-13,156	64,299	43,330	34,821	94,158	34,625	44,438	41,013	-21,654	-77,274	-89,189	-99,418	-85,235	-45,815	-32,211	-38,089	-39,056	-33,759	-38,998	-15,613	-51,848	-81,971	-64,157	-91,186	-70,791	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Loss on investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	3,397	8,624	11,196	14,477	13,056	6,197	2,513	-1,343	-1,368	-1,599	-2,378	-2,014	-1,618	-1,088	-87	67	0	0	0
Provision for doubtful accounts
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	2,222	2,464	1,645	1,784	656	1,321	1,713	266	535	-209	342	2,035	2,200	2,002	2,089	1,734	0	0	0
Provision for product returns
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	5,511	7,362	9,417	10,743	10,417	9,756	6,956	5,541	5,228	3,980	3,585	2,717	1,942	2,529	3,313	3,292	0	0	0
Provision for inventory
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	1,628	757	942	1,022	1,097	1,302	1,464	1,570	2,028	2,494	2,808	2,876	2,501	1,997	1,019	1,961	0	0	0
Tax effect of stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefit from stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	16,049	16,011	14,257	10,611	5,873	3,246	5,052	4,951	6,132	1,389	3,612	5,408	12,552	19,683	23,339	58,706	35,374	123,406	112,885	53,295	51,659	-54,501	-75,977	-57,587	-51,544	-33,293	-10,381	-3,422	7,913	0	0	0
Effects of exchange rate changes on monetary assets and liabilities denominated in foreign currencies
-7,364	-2,631	-3,436	-3,255	-7,917	-7,950	-7,644	-4,425	4,161	7,645	-615	-1,382	-1,253	-5,189	3,056	-2,255	-2,354	-13,815	-17,790	-16,658	-16,090	-5,233	-3,532	-845	-5,947	-5,888	-5,769	-4,456	-1,999	-1,706	-1,801	266	2,657	-1,895	107	-6,656	-6,774	-1,984	-1,885	5,033	1,820	2,019	0	0	0
Other non-cash items
-17,656	-10,630	-14,202	-10,627	-9,415	-11,872	-7,874	-9,278	-13,022	-11,924	-11,841	-13,629	-8,188	-8,618	-1,997	-1,233	-5,911	-6,767	-13,499	-13,324	-15,517	-12,066	-14,765	-12,274	-5,281	-5,417	-571	-850	-562	-1,178	-1,051	-4,088	-4,560	-4,733	-4,600	-1,268	-1,842	-781	-8,288	-7,156	-4,895	-4,988	0	0	0
Total adjustments to reconcile net income to net cash provided by operating activities
258,249	291,740	325,237	491,008	482,874	429,424	482,106	455,409	420,606	471,870	407,058	407,977	402,983	344,376	279,056	362,204	370,867	420,706	455,467	401,631	432,862	425,626	474,433	441,777	433,950	398,346	318,054	334,351	275,721	260,604	284,939	269,037	278,348	249,627	199,326	184,488	189,540	195,059	200,583	202,413	199,792	205,371	0	0	0
Changes in operating assets and liabilities, net of the effects of acquisitions:
Accounts receivable
232,086	38,994	20,955	8,596	61,995	-18,703	-46,243	-8,094	-53,792	33,904	36,208	84,149	83,075	61,662	16,256	14,759	21,079	8,866	12,609	5,495	-59,918	28,142	22,448	14,741	63,869	22,951	-3,926	40,533	11,850	107,628	66,190	68,987	92,989	95,481	63,666	14,346	53,548	79,058	41,564	100,457	45,966	74,604	0	0	0
Inventories
-2,978	-3,046	247	4,188	10,149	8,239	6,744	7,792	-300	2,545	2,129	4,068	4,872	4,133	5,735	-11	1,688	-703	-4,259	851	1,965	1,167	6,845	2,764	3,334	5,591	2,949	6,883	1,830	2,024	3,820	630	3,381	3,097	1,704	2,452	2,985	1,192	1,056	-493	-1,682	-601	0	0	0
Prepaid expenses and other current assets
31,692	7,129	-30,332	-52,958	-23,173	7,855	54,217	50,450	9,085	18,327	41,564	4,362	11,870	12,077	-10,769	20,548	25,887	10,257	6,233	-712	4,410	4,621	6,181	10,619	-19,706	7,928	-2,998	-9,129	33,082	16,606	19,004	11,882	11,266	-1,407	-29,184	13,005	3,908	37,319	49,445	16,213	23,804	3,055	0	0	0
Other assets
81,538	74,152	66,166	66,559	58,600	33,638	13,031	-13,508	-20,032	-2,116	-2,582	14,941	12,842	2,747	7,749	-7,133	-8,948	1,487	1,461	8,842	9,636	-1,650	-1,886	-2,938	-6,366	-5,076	-952	-5,924	3,222	1,497	3,509	1,873	-3,267	562	-5,492	-614	1,075	-3,785	-8,333	-7,285	-4,526	487	0	0	0
Income taxes, net
34,243	-22,147	-15,834	-51,866	-70,371	-56,988	293,800	319,957	313,022	318,795	-86,600	-76,528	6,053	42,431	98,340	85,687	73,784	48,675	23,639	-12,176	-57,553	-84,629	-64,866	-13,363	-20,868	-7,374	45,960	11,092	34,779	71,255	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Deferred tax assets, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-18,179	-17,264	-25,065	-10,470	0	0	0
Accounts payable
23,389	8,994	1,214	8,209	11,110	6,804	12,746	21,885	2,812	-7,238	-14,116	-1,105	-15,666	-16,365	-19,538	-18,162	-4,396	6,408	470	-1,367	4,533	1,338	15,567	6,257	13,092	3,092	1,676	-4,003	-7,225	-426	-6,542	335	5,185	-11,758	-6,197	3,786	-8,516	9,612	11,848	6,724	7,653	4,613	0	0	0
Accrued expenses and other current liabilities
73,406	-25,722	-52,021	-36,280	7,723	36,967	92,761	65,857	10,110	34,886	11,514	-11,254	1,261	22,650	44,100	83,112	77,497	49,662	12,154	11,585	21,671	66,674	66,091	51,527	54,964	23,028	33,867	46,635	23,171	45,135	22,114	12,094	21,389	-20,996	-9,524	7,609	19,198	49,938	74,100	58,047	43,110	62,900	0	0	0
Deferred revenues
-1,914	-38,780	-64,429	20,741	71,534	69,499	100,100	107,242	120,600	174,426	182,713	196,517	159,415	142,381	99,234	92,597	101,072	102,330	104,845	108,074	103,742	144,644	133,381	158,628	179,069	201,455	203,873	209,396	215,245	216,798	195,153	194,186	189,755	168,994	145,454	135,895	144,923	160,121	124,238	148,313	101,084	85,373	0	0	0
Other liabilities
2,029	4,401	5,879	3,375	8,001	5,001	2,870	8,922	2,560	2,282	10,440	24,194	22,933	22,459	18,164	350	8,873	8,900	12,340	12,332	9,085	5,827	-913	82	-5,429	1,667	2,105	1,882	6,580	369	793	-219	-21,210	10,178	9,338	10,514	32,828	1,404	2,829	2,223	1,212	1,775	0	0	0
Total changes in operating assets and liabilities, net of the effects of acquisitions
211,185	190,483	182,227	82,206	79,574	-30,254	-474,528	-487,223	-514,143	-470,491	-26,632	-24,304	-61,337	-132,937	-221,329	-215,421	-217,124	-196,068	-137,404	-103,972	-125,385	-101,574	-115,672	-177,945	-179,697	-190,474	-292,408	-232,639	-222,566	-205,376	-129,213	-138,226	-134,066	-73,865	-148,873	-170,255	-139,976	-144,792	-147,462	-123,679	-114,562	-87,586	0	0	0
Net cash provided by operating activities of continuing operations
-	-	-	-	-	-	-	-	-	964,346	918,139	901,747	931,246	947,168	818,711	840,139	847,491	831,907	791,682	696,021	698,414	694,419	885,244	944,059	949,421	928,343	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in operating activities of discontinued operations
-	-	-	-	-	-	-	-	-	-56,070	-4,574	45,515	93,903	168,662	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by operating activities
799,751	783,070	783,428	937,220	945,056	1,035,345	1,082,694	1,036,555	1,016,847	908,276	913,565	947,262	1,025,149	1,115,830	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	688,886	691,033	631,955	616,292	618,878	562,569	545,793	483,974	0	0	0
Investing Activities
Purchases of available-for-sale investments
17,329	20,003	50,810	154,535	348,094	466,687	625,468	897,791	1,009,286	1,155,659	1,793,774	1,921,290	2,044,126	2,238,784	1,786,977	2,041,370	2,092,915	2,182,681	2,305,686	2,152,342	2,338,542	2,389,950	2,167,323	1,997,151	1,675,076	1,703,976	1,673,197	1,878,607	1,757,772	1,435,367	1,582,361	1,226,347	1,492,145	1,360,677	1,245,741	1,335,012	1,014,679	1,287,438	1,333,837	1,227,023	1,401,281	1,134,580	0	0	0
Proceeds from sales of available-for-sale investments
170,031	942,985	951,088	958,547	869,906	455,417	538,962	647,938	675,580	775,135	817,001	1,409,802	1,518,414	1,294,636	1,348,475	1,357,644	1,546,624	1,745,290	1,905,369	1,656,540	1,861,373	1,694,886	1,621,870	1,263,767	800,831	766,192	852,109	928,933	1,383,892	1,256,295	1,201,568	1,163,184	779,933	856,182	635,127	625,962	538,358	474,130	468,629	432,989	529,017	436,223	0	0	0
Proceeds from maturities of available-for-sale investments
69,500	178,070	313,830	425,062	507,129	468,145	409,440	484,361	498,725	466,900	499,213	489,747	556,789	632,517	629,320	625,519	614,867	637,052	642,378	529,941	446,006	406,334	377,469	476,460	494,970	504,314	490,654	430,738	430,604	437,991	522,426	586,065	622,419	652,939	576,229	507,457	426,897	433,792	428,593	394,688	408,190	284,916	0	0	0
Proceeds from cost method investments, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	425	3,516	5,100	6,046	5,243	5,650	19,277	18,693	24,252	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-
Proceeds from repayments of trading securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	44,560	0	0	0	-	-	-	-
Purchases of property and equipment
56,680	63,454	65,518	74,486	70,634	69,354	73,520	75,180	77,152	80,901	80,438	74,998	78,446	85,035	44,242	66,248	79,810	97,566	128,759	137,474	138,232	124,610	151,721	163,249	165,061	162,889	162,278	138,492	128,108	122,958	110,367	103,723	108,234	111,932	111,130	104,760	90,960	75,376	72,547	66,152	64,610	76,246	0	0	0
Purchases of cost method investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	6,568	6,542	6,012	6,622	6,210	11,204	16,739	16,879	0	0	0	-	-	-	-	-	-	-	-
Cash paid for acquisitions, net of cash acquired
-	-	-	-	-	248,929	65,983	65,983	66,330	60,449	62,235	73,691	73,691	13,242	-144,199	-155,853	5,864	95,331	308,703	310,901	166,372	101,059	48,880	52,174	34,986	334,881	328,217	728,892	787,237	487,221	634,252	419,315	360,970	455,377	309,310	128,723	129,484	20,510	21,890	12,145	11,604	3,338	0	0	0
Cash paid for licensing agreements, patents and technology
4,592	3,500	3,475	4,151	3,265	3,210	3,654	3,441	5,980	7,379	6,050	6,518	3,726	25,940	25,884	26,038	32,861	10,795	11,373	13,026	14,790	13,419	17,663	17,386	10,628	12,153	20,685	20,254	29,935	27,760	16,550	19,950	13,976	15,437	16,997	13,967	10,944	16,715	12,882	11,675	10,358	3,290	0	0	0
Other
-1,960	-1,651	3,682	5,039	5,884	3,202	-3,232	-4,338	-4,295	-2,323	-1,207	-1,624	-1,458	-1,181	-9,073	-6,811	-6,954	-5,209	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash (used in) provided by investing activities of continuing operations
-	-	-	-	-	-	-	-	-	-60,030	-625,076	-175,324	-123,328	-434,667	273,964	12,171	-43,005	1,178	-210,833	-429,252	-350,906	-527,393	-377,637	-482,166	-583,568	-938,150	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities of discontinued operations
-	-	-	-	-	-	-	-	-	-3,891	-14,033	-25,179	-38,080	-49,537	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by investing activities
162,890	1,035,749	958,487	962,452	766,559	132,180	183,009	94,242	19,852	-63,921	-639,109	-200,503	-161,408	-484,204	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-493,625	-465,750	-250,615	-457,042	-506,424	-449,308	-554,170	-502,865	0	0	0
Financing Activities
Proceeds from issuance of common stock under stock-based compensation plans
-	-	-	-	-	164	184	737	1,282	2,114	3,903	12,178	36,125	41,247	72,385	99,425	109,896	112,285	87,282	71,942	47,073	46,618	43,759	56,791	56,362	73,655	81,180	81,876	103,397	108,406	126,575	101,969	113,529	125,606	137,554	254,491	240,964	353,557	347,693	272,989	296,828	165,998	0	0	0
Proceeds from term loan credit agreement, net of issuance costs
0	-	-	-	0	-	-	-	-	165,000	165,000	125,000	100,000	0	0	0	0	95,000	0	0	95,000	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of term loan credit agreement
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from 2030 Notes, net of issuance costs
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of acquired debt
-	-	-	-	-	-5,674	-5,674	-5,674	-5,674	-4,000	-4,000	-4,000	-4,000	0	4,394	4,394	0	-3,175	-7,868	-7,868	-3,474	-4,065	-5,827	-5,827	-5,827	-2,061	0	-16,609	-21,890	-24,346	-24,346	-8,372	-3,091	-11,561	0	0	0	-	-	-	-	-	-	-	-
Excess tax benefit from stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	16,049	16,011	14,257	10,611	5,873	3,246	5,052	4,951	6,132	1,389	3,612	5,408	12,552	19,683	23,339	30,253	35,374	43,767	38,369	50,754	51,659	56,934	79,319	62,085	60,164	41,337	20,398	18,258	5,182	0	0	0
Stock repurchases, net
1,359,951	453,853	733,904	746,175	754,958	1,261,153	1,481,153	1,439,935	1,274,957	1,174,957	574,957	500,000	500,000	28,689	386,323	612,261	659,465	755,704	437,969	312,019	1,765,813	1,640,885	1,850,978	1,806,288	344,962	406,326	232,391	252,048	212,376	251,008	274,903	324,930	424,891	424,849	433,730	433,710	433,700	433,739	399,860	349,894	289,939	214,944	0	0	0
Accelerated stock repurchase program
0	-	-	-	0	-	-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid for tax withholding on vested stock awards
125,798	89,213	92,798	92,209	75,653	71,593	62,450	69,429	58,774	80,040	82,415	83,343	79,078	66,638	69,387	61,857	49,370	46,336	38,246	39,153	50,750	33,672	31,082	29,049	31,075	31,013	30,354	29,912	8,322	20,170	18,604	16,272	18,567	13,262	14,243	14,212	12,419	6,298	0	0	0	-	-	-	-
Cash paid for dividends
0	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Transfer of cash to GoTo Business resulting from the separation
-	-	-	-	-	-	-	-	-	28,500	28,523	28,523	28,523	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in financing activities
-	-	-	-	-	-	-	-	-	-	-	-	-465,316	-	-362,920	-556,042	-683,328	-687,057	-393,555	-282,046	-339,809	-292,668	-509,535	-447,557	-319,182	-352,281	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in financing activities
-2,043,055	-1,890,510	-2,448,208	-2,414,466	-1,046,326	-1,658,041	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-285,253	-145,245	-153,996	-26,316	-16,745	-62,418	20,698	-45,537	0	0	0
Effect of exchange rate changes on cash and cash equivalents
-7,384	-1,314	-5,055	-2,194	-7,307	-5,848	-3,336	-598	7,105	8,186	47	-273	-3,754	-5,157	909	-3,831	-601	-10,313	-11,985	-11,310	-12,783	-4,447	-1,758	1,913	383	-781	-434	-181	-2,270	-492	-2,028	-4,386	-797	1,807	3,134	6,074	6,149	1,785	2,911	-349	-297	-250	0	0	0
Change in cash and cash equivalents
-1,087,798	-73,005	-711,348	-516,988	657,982	-496,364	264,313	176,937	46,720	158,174	-367,814	178,539	394,671	588,438	781,089	303,919	110,373	108,369	284,807	82,911	104,414	-20,591	-3,686	16,249	47,054	-362,869	-77,654	-698,687	-139,416	310,313	11,997	531,024	-124,459	-62,866	-86,858	86,112	233,493	134,719	98,620	50,494	12,024	-64,678	0	0	0