DOLBY LABORATORIES, INC. DLB Cash Flow

Dolby laboratories, inc. (DLB)

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
Operating activities:
Net income including controlling interest
220,837	205,738	255,505	238,424	202,046	193,821	42,305	42,070	114,997	100,374	207,106	204,566	192,147	208,965	186,402	209,238	181,327	172,314	183,240	182,687	187,394	205,411	208,720	208,442	198,381	184,071	190,302	196,263	217,167	243,245	265,134	292,377	303,018	297,183	310,582	294,621	296,262	300,099	282,827	0	0	0
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
84,536	85,333	85,123	82,699	81,398	81,430	81,283	81,163	80,931	82,380	84,308	85,866	86,296	85,148	85,152	82,195	78,472	74,423	69,133	65,054	61,742	57,393	53,278	52,621	51,939	52,525	53,245	52,302	50,193	47,076	43,876	41,208	43,052	44,384	43,994	43,367	38,588	36,670	34,937	0	0	0
Stock-based compensation
79,428	77,712	76,580	77,353	75,591	74,047	71,249	69,879	68,520	66,812	65,343	64,452	64,717	64,820	66,985	67,720	68,026	68,607	67,069	67,729	67,382	68,468	65,680	63,169	64,486	61,678	64,328	63,270	56,728	53,846	47,581	44,992	45,167	43,844	43,665	0	0	0	-	-	0	0
Amortization of premium on investments
-354	-209	-358	-746	-1,339	-2,040	-2,473	-2,727	-2,854	-2,838	-2,758	-2,613	-2,539	-2,881	-3,824	-5,226	-7,012	-8,376	-9,162	-9,566	-9,615	-9,523	-9,398	-9,189	-8,875	-8,706	-10,234	-11,961	-13,787	-16,014	-17,140	-17,993	-18,589	-18,773	-17,088	-15,109	-12,945	-10,485	-9,118	0	0	0
Excess tax benefit from exercise of stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,325	787	900	2,544	3,109	2,967	3,368	2,434	1,711	1,388	1,016	475	532	1,076	1,264	852	-5,109	-4,287	-2,736	6,593	20,392	25,660	29,372	24,639	0	0	0
Provision for doubtful accounts
5,515	3,493	4,523	5,149	2,769	2,899	2,413	2,222	1,521	1,976	924	1,051	799	1,406	1,017	1,196	1,748	87	33	464	125	369	1,119	540	63	379	-174	-917	-241	-506	-379	393	48	387	772	1,374	1,429	809	365	0	0	0
Losses / (gains) on Put Rights
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-7,601	0	0	0
Losses / (gains) on auction rate certificates
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7,601	0	0	0
Deferred income taxes
-16,784	-16,794	-40,191	11,024	-13,964	-4,237	61,059	-8,437	10,285	954	-35,046	-28,406	-25,945	-15,585	-22,798	-5,234	-12,512	-18,662	-14,484	-11,848	-8,075	-11,684	-6,696	-16,605	-15,367	-18,337	-19,642	-4,690	661	6,224	1,208	-1,864	-2,774	5,781	6,784	-36,240	-26,933	-28,300	-16,031	0	0	0
Restructuring charge for exit of leased facility
33,853	33,737	33,251	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other non-cash items affecting net income
-9,350	-3,549	-6,952	-4,523	-7,948	-10,376	-7,570	-5,486	-3,703	-3,849	-2,886	-4,020	-1,441	-958	-1,779	-3,503	-4,371	-4,917	-5,125	-1,294	-130	-2,369	-1,821	-2,229	-2,789	230	1,026	667	-1,460	-631	-95	-669	1,548	1,171	-532	-1,485	-390	-845	347	0	0	0
Changes in operating assets and liabilities:
Accounts receivable
74,141	47,559	27,492	-28,132	-125,204	-159,391	-100,129	47,008	82,317	92,303	56,559	-8,512	-13,075	-7,143	-24,886	-11,107	5,278	-27,395	7,008	733	-18,894	33,425	-10,165	21,229	17,877	24,427	53,639	27,357	33,220	-3,236	-18,831	7,220	-15,807	-13,806	8,514	-7,331	30,100	25,718	31,329	0	0	0
Inventories
13,491	12,622	16,098	22,070	14,233	7,820	6,602	5,590	9,021	14,291	11,922	3,765	2,669	1,194	2,949	5,427	-905	-7,955	-5,835	-6,402	-3,575	1,404	-3,818	-6,184	-11,560	-17,564	-9,166	-3,412	-1,421	-4,149	-3,051	-2,453	-6,019	5,702	-2,105	6,682	21,151	18,650	15,696	0	0	0
Operating lease right-of-use assets
0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Contract assets
-21,155	5,499	29,708	32,341	37,279	13,572	2,502	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Prepaid expenses and other assets
6,995	6,288	6,200	52,486	55,111	59,051	52,485	15,363	13,669	10,188	12,302	14,799	19,518	20,355	15,217	8,491	4,529	2,689	3,595	4,732	5,260	3,196	354	4,951	-463	4,816	-5,731	-4,315	-1,273	-3,831	3,984	3,005	7,718	7,754	10,305	7,439	1,969	-6,632	-15,009	0	0	0
Accounts payable and other liabilities
-7,674	-4,284	169	-23,384	-7,679	-22,345	-29,019	72,260	67,480	82,027	103,505	6,903	9,268	5,880	2,834	22,333	-16,546	24,843	-7,384	-11,818	22,010	-5,981	24,124	39,763	29,369	25,092	21,890	-5,914	3,938	-3,679	-6,641	8,875	-16,294	-11,997	-16,952	-19,597	11,446	-4,718	31,556	0	0	0
Income taxes, net
-7,362	-2,787	-2,186	-67,910	-41,709	-58,267	39,738	110,339	115,722	120,256	26,950	37,910	37,106	18,496	17,265	1,865	951	23,089	21,767	7,411	-371	-152	951	17,308	11,278	-2,403	2,314	-6,155	-5,820	-11,053	3,866	1,179	14,196	4,629	708	2,478	-4,897	13,714	27,995	0	0	0
Contract liabilities
475	1,038	1,084	1,270	-45	-2,721	-59	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating lease liabilities
0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred revenue
-	-	-	-	-	-	-	-	-	-	-	1,676	1,878	3,490	10,288	9,875	11,990	10,848	8,981	6,380	4,528	1,615	-8,734	-9,687	-6,863	-6,830	-1,076	378	-3,323	20	-498	14,179	18,648	19,982	19,800	3,957	-4,199	-17,072	-25,725	0	0	0
Other non-current liabilities
-10,324	-13,115	-13,996	30,333	33,730	36,014	34,650	-929	-751	60	381	1,562	1,054	1,039	596	-345	-626	-1,055	268	949	1,345	1,772	691	-6,238	-5,843	-5,473	-4,677	500	559	1,838	1,218	0	0	0	-	-	-	-376	-237	0	0	0
Net cash provided by operating activities
318,729	301,881	327,674	308,925	360,005	392,005	352,202	320,899	316,506	324,219	377,793	373,474	362,526	363,392	360,064	367,215	288,303	373,327	309,377	315,696	360,067	287,710	361,547	339,024	331,865	286,483	276,501	286,368	299,308	361,429	389,921	422,527	446,766	428,828	403,688	362,006	314,407	299,486	327,298	0	0	0
Investing activities:
Purchase of investments
280,154	331,357	265,361	242,931	197,238	163,045	174,195	236,668	320,197	326,936	289,530	382,885	323,963	377,892	426,118	283,520	399,267	367,727	392,936	443,028	405,065	397,073	389,282	372,032	338,203	383,952	485,370	596,005	814,959	760,620	611,211	596,337	373,480	364,304	619,238	544,675	637,326	690,799	646,052	0	0	0
Proceeds from sales of investment securities
227,065	265,771	200,636	199,991	141,838	127,257	123,058	119,558	125,674	104,906	84,047	56,563	58,102	147,879	262,125	326,730	412,245	363,541	305,225	239,898	216,209	195,587	159,559	154,927	145,058	187,097	548,739	630,731	719,793	695,722	358,142	0	0	0	-	-	-	-	-	-	0	0
Proceeds from maturities of investment securities
112,836	135,042	136,951	153,215	197,272	207,741	237,432	220,163	205,027	174,898	152,324	152,518	111,105	116,279	103,987	106,275	125,320	118,062	146,152	149,002	135,542	133,020	137,059	156,506	160,206	139,168	143,754	126,470	189,970	240,215	236,535	230,419	192,305	91,524	203,704	0	0	0	-	-	-	-
Purchases of property, plant and equipment
81,981	101,127	96,281	97,615	89,162	72,078	72,814	72,818	88,121	96,316	99,617	105,351	103,008	98,970	100,762	114,836	128,022	160,233	157,526	158,010	135,979	88,057	75,363	46,032	32,419	28,961	26,711	134,925	149,063	161,500	167,349	67,253	58,261	50,282	47,362	42,934	38,969	36,509	37,482	0	0	0
Acquisitions, net of cash acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	93,516	93,516	93,516	93,516	0	0	0	0	-	-	-	-	12,521	575	575	575	3,350	0	0	0	-	-	-	-
Purchases of intangible assets
2,830	5,480	17,255	17,255	17,715	13,410	12,543	12,543	11,893	16,448	5,250	7,500	21,000	15,750	121,020	133,470	136,270	136,286	37,416	40,716	31,966	44,350	37,950	19,950	12,400	2	4,050	4,050	4,400	4,398	350	0	0	0	-	-	-	-	825	0	0	0
Other investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	0	0	-	-	-	-	-	-	-	-
Proceeds from sale of property, plant and equipment and assets held for sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	3,482	169	526	503	1,463	1,736	1,759	2,075	1,478	1,485	3,281	3,567	0	0	0	-	-	-	-
Change in restricted cash
-	-	-	-	-	-	-	-	-	-	-	514	474	744	709	3,754	3,122	2,291	794	-1,415	-1,188	-1,309	-1,033	42	781	1,723	1,840	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by/(used in) investing activities
-39,983	-52,070	-56,229	-35,803	18,706	63,613	78,086	13,671	-93,966	-158,466	-158,026	-287,169	-279,238	-229,198	-282,497	-75,359	-101,900	-157,705	-203,595	-348,310	-313,629	-293,135	-204,944	-123,141	-78,370	-84,847	175,025	9,657	-70,221	-4,183	-194,803	-114,540	-22,557	-42,891	-236,702	-122,118	-32,039	-65,694	-44,357	0	0	0
Financing activities:
Payments on debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7,680	0	0	0
Proceeds from issuance of common stock
84,174	67,447	57,346	65,248	62,259	78,971	106,162	108,174	116,849	97,470	69,998	74,809	80,746	75,116	71,111	44,637	30,564	31,101	28,627	37,283	28,547	32,758	33,373	26,489	26,220	19,583	15,958	14,806	17,957	21,075	17,386	0	0	0	-	-	-	-	42,398	0	0	0
Proceeds from issuance of common stock, net of shares withheld for taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	0	0
Repurchase of common stock
244,377	258,043	340,585	346,502	313,357	233,022	150,470	115,486	84,993	104,992	100,000	90,994	73,998	86,406	100,854	144,247	151,841	129,845	107,349	63,026	76,732	61,321	56,028	49,061	28,472	39,949	82,245	152,386	247,487	296,091	268,203	239,869	203,435	172,512	192,410	206,214	233,362	271,667	241,362	0	0	0
Payment of cash dividend
-	80,004	-	-	-	69,351	66,155	63,887	61,521	59,220	57,059	54,909	52,691	50,499	48,397	46,530	44,748	42,904	41,018	30,744	20,470	10,228	0	0	0	0	408,206	408,206	408,206	408,206	0	0	0	0	-	-	-	-	-	-	-	-
Distribution to controlling interest
284	392	1,015	1,015	1,014	907	1,022	1,022	1,022	1,021	2,094	2,094	2,094	2,094	214	201	201	238	5,615	5,628	5,628	5,591	0	0	0	0	5,039	5,039	5,039	5,039	0	0	0	0	-	-	-	-	-	-	0	0
Excess tax benefit from the exercise of stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,325	787	900	2,544	3,109	2,967	3,368	2,434	1,711	1,388	1,016	475	532	1,076	1,264	852	-5,109	-4,287	-2,736	6,593	20,392	25,660	29,372	24,639	0	0	0
Shares repurchased for tax withholdings on vesting of restricted stock
-	23,391	-	-	-	26,477	22,144	21,990	21,823	18,366	17,676	18,354	18,689	18,449	13,632	14,943	14,641	14,701	15,708	17,348	17,102	17,770	13,651	12,340	12,054	11,919	8,828	6,164	5,860	8,441	3,835	0	0	0	-	-	-	-	-	-	-	-
Net cash used in financing activities
-270,320	-295,126	-385,281	-379,862	-347,224	-250,786	-133,629	-94,211	-52,510	-86,129	-106,831	-92,855	-67,064	-82,632	-91,986	-159,959	-180,080	-155,687	-138,519	-83,062	-95,126	-65,492	-40,580	-33,280	-12,997	-31,348	-487,964	-556,975	-648,077	-695,956	-254,318	-231,763	-196,094	-165,895	-162,498	-166,769	-180,827	-203,457	-184,774	0	0	0
Effect of foreign exchange rate changes on cash and cash equivalents
-8,848	-1,316	-5,821	-6,678	-10,222	-9,066	-5,777	843	7,418	7,913	1,675	-825	-4,918	-5,823	-1,395	-2,774	885	-1,951	-3,809	-3,553	-6,217	-4,608	-1,948	-1,067	-107	-1,841	-1,765	-897	-490	489	288	-420	-395	734	1,163	2,387	1,378	-2,935	-3,984	0	0	0
Net increase/(decrease) in cash and cash equivalents
-	-46,631	-	-	-	195,766	290,882	241,202	177,448	87,537	114,611	-7,375	11,306	45,739	-15,814	129,123	7,208	57,984	-36,546	-119,229	-54,905	-75,525	114,075	181,536	240,391	168,447	-38,203	-261,847	-419,480	-338,221	-58,912	75,804	227,720	220,776	5,651	75,506	102,919	27,400	94,183	0	0	0
Supplemental disclosure:
Cash paid for income taxes, net of refunds received
67,206	66,999	59,722	55,493	51,075	54,242	60,875	60,997	66,079	60,323	56,760	49,544	43,951	54,904	55,085	62,607	64,223	52,115	51,881	61,492	64,970	74,323	72,177	63,740	64,760	77,560	77,701	79,467	85,533	97,184	98,497	121,027	118,509	125,147	122,531	117,891	144,484	144,530	141,800	0	0	0
Non-cash investing activities:
Cash paid for interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	191	183	98	133	141	174	207	375	367	697	780	671	0	0	0
Property, plant, and equipment purchased and unpaid at period-end
262	-7,548	-324	-7,615	952	12,299	7,990	6,821	-10,323	-14,181	-9,613	-4,936	-14,577	3,304	-7,233	-28,025	-2,507	-21,171	15,725	34,321	32,144	31,472	6,982	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Receivable for working capital adjustment from acquisition
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase consideration payable for acquisition
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-550	-550	-550	95	740	740	740	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase consideration payable for intangibles
2,141	4,491	1,881	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-