Emergent biosolutions inc. (EBS)
CashFlow / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11
Cash flows provided by operating activities:
Net Loss

68,000

54,500

4,100

-18,100

41,600

62,700

100,148

112,699

67,215

82,600

86,068

73,857

58,294

51,800

47,731

63,333

88,381

62,870

59,639

44,529

35,457

36,741

21,842

13,501

18,828

30,259

30,044

22,173

17,360

18,143

30,041

24,284

31,264

16,113

0

0

0

Adjustments to reconcile net loss to net cash provided by operating activities:
Share-based compensation expense

26,500

26,700

27,500

26,400

22,700

23,200

20,095

18,882

18,216

15,200

15,778

16,573

17,587

18,500

18,573

18,003

17,247

15,848

15,177

14,604

13,977

12,829

12,233

11,535

10,912

11,238

11,157

11,408

11,379

11,115

11,245

11,014

11,010

10,739

0

0

0

Depreciation and amortization

112,300

110,700

107,900

92,600

76,500

62,200

49,801

47,203

44,734

42,600

39,944

40,527

39,526

38,200

37,631

35,807

35,643

35,335

34,026

34,457

34,150

32,453

29,697

25,880

21,630

18,958

17,065

14,660

12,987

11,197

10,108

9,750

9,493

9,355

0

0

0

Amortization of deferred financing costs

3,000

3,000

3,100

2,400

1,500

900

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes

6,100

-1,100

-9,900

-1,200

1,700

8,600

-2,518

6,849

-5,499

3,300

19,004

9,604

6,535

5,200

-7,626

3,381

13,689

3,464

30,580

22,322

17,284

16,493

11,008

8,794

10,322

13,858

-629

-832

-8,077

3,383

16,930

21,139

24,253

20,188

0

0

0

Change in fair value of contingent consideration, net

23,700

24,800

13,600

6,900

3,800

3,100

8,350

9,067

8,600

7,800

-8,197

-11,302

-11,447

-10,800

-954

-10,415

-11,311

-10,599

-10,981

2,254

4,280

3,133

0

0

0

-

-

0

0

-3,005

-4,109

-4,192

-3,365

221

0

0

0

Non-cash development expenses from joint venture

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-347

159

-309

2,648

3,670

4,190

5,574

3,952

5,290

0

0

0

Write off of debt issuance costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,831

1,831

1,831

1,831

0

0

0

0

-

-

-

-

-

-

-

-

Impairment of intangible assets (including IPR&D)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

9,600

9,600

9,600

9,600

0

0

0

0

Impairment and abandonment of long-lived assets

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefits from stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

10,600

30,108

14,482

81

11,281

-7,581

8,049

6,831

5,987

6,716

6,521

6,061

3,099

2,055

2,038

2,078

1,588

4,588

4,129

5,687

4,608

0

0

0

Other

100

200

600

-1,900

0

-200

-1,997

-1,936

-1,213

-1,200

764

-689

-1,158

-1,000

-2,935

-893

-183

-271

-546

-938

-848

-1,284

-611

-560

-498

-51

20

-5

15

40

-293

-294

-360

-392

0

0

0

Changes in operating assets and liabilities:
Accounts receivable

41,600

8,200

179,300

3,400

-25,600

94,200

-52,289

87,160

-6,439

4,800

58,024

40,173

-39,368

22,400

17,567

-30,466

110,333

64,351

16,450

21,753

1,410

-21,405

-5,612

3,944

-19,967

-35,456

12,946

7,554

19,312

21,890

-31,838

-402

31,722

34,873

0

0

0

Inventories

37,100

16,700

43,400

31,400

-5,300

1,900

-18,087

-6,027

9,570

-6,100

-12,296

-14,211

16,994

9,000

41,841

11,966

-16,462

11,262

-13,896

16,037

8,225

-4,229

-6,411

-5,171

-3,499

-518

-1,920

2,574

4,829

500

266

-1,254

-4,844

1,939

0

0

0

Income taxes

-

-

-

-

-

-

-

-

-

-20,100

0

0

0

-

-

-

-

5,492

-22,443

16,267

13,118

4,711

4,699

4,364

3,014

7,179

-2,725

-2,219

-11,291

-8,055

-15,585

-7,667

-5,506

-1,422

0

0

0

Prepaid expenses and other assets

26,100

27,400

28,300

43,500

16,800

7,900

17,643

13,276

13,738

3,700

1,111

111

5,317

2,100

-183

1,859

-8,123

-2,319

-1,363

5,440

9,277

8,472

13,539

5,059

5,424

6,226

3,026

3,660

1,727

1,038

1,016

-147

-180

-660

0

0

0

Accounts payable

-3,300

16,500

1,200

40,000

-6,400

-7,000

7,435

7,455

19,619

16,100

-10,530

-21,842

-15,104

-14,800

1,542

13,974

4,032

4,749

3,799

3,140

2,536

-9,279

-10,105

-4,709

-7,068

-551

2,147

1,143

-1,934

274

-707

-3,415

1,258

2,510

0

0

0

Accrued expenses

-15,700

-15,100

-8,900

-10,300

-12,100

-11,600

6,434

11,586

5,762

1,600

-35

-253

683

600

406

-3,645

-359

45

-401

3,486

-502

2,685

1,273

-18

1,532

7

-372

-938

201

169

400

390

-73

-95

0

0

0

Accrued compensation

10,600

4,200

2,100

3,500

500

8,400

9,102

4,894

1,103

3,300

450

-3,028

-726

2,200

4,216

3,187

5,286

2,680

3,059

2,968

2,376

4,539

6,048

5,320

4,354

2,092

2,275

1,419

1,562

1,649

1,257

-43

-3,673

-3,303

0

0

0

The provision charged to earnings in the period related to chargebacks obligations.

-

-

-

-

-

-

-

-

-

-

-

-

-

-

391

519

-204

-8

311

-238

58

299

-308

284

159

0

0

0

0

-

-

-

-

-

-

-

-

Contract liabilities

14,400

16,000

16,100

16,500

8,800

200

4,194

-1,935

-565

15,000

19,954

20,628

11,791

4,600

-1,537

2,113

5,334

3,474

3,093

6,460

4,087

2,846

3,164

-1,458

-1,398

26

515

545

1,721

449

-5,508

-6,748

-9,428

-10,863

0

0

0

Net cash provided by operating activities:

141,000

188,000

-99,900

77,200

147,600

41,800

285,086

146,027

165,429

208,100

117,963

110,098

54,100

54,600

68,379

146,062

150,561

42,517

93,210

67,374

75,690

112,318

69,138

50,340

72,349

96,968

49,308

35,667

21,177

39,643

115,593

73,771

48,748

12,185

0

0

0

Cash flows used in investing activities:
Purchases of property, plant and equipment and other

89,700

86,900

71,600

82,400

81,900

72,100

63,719

50,395

46,096

54,800

62,338

66,559

78,290

76,200

67,424

64,377

53,944

44,812

49,683

40,954

35,165

30,673

22,222

37,298

38,932

42,021

47,322

37,047

39,195

53,845

60,816

68,152

67,923

54,026

0

0

0

Proceeds from maturity of investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,966

2,466

3,966

6,216

4,250

0

0

0

Purchase of investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,187

0

0

0

Business acquisitions, net of cash acquired

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

179,379

204,040

204,040

204,040

25,873

0

0

0

-

-

-

-

-

-

-

-

Proceeds from sale of assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

11,765

0

0

0

0

Net cash used in investing activities:

-99,700

-96,900

-909,300

-920,100

-907,000

-897,200

-256,219

-242,895

-241,196

-249,900

-62,338

-66,559

-78,290

-76,200

-68,074

-65,027

-54,594

-45,462

-50,895

-42,166

-36,377

-210,052

-202,142

-241,338

-242,972

-67,894

-71,442

-37,047

-39,195

-40,114

-45,552

-51,339

-49,820

-53,963

0

0

0

Cash flows used in financing activities:
Proceeds from revolving credit facility

100,000

130,000

478,000

478,000

378,000

348,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments on revolving credit facility

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments on term loan facility

11,300

11,300

11,200

8,400

5,600

2,800

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from convertible debenture, net of bank fees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

241,588

241,654

241,654

241,654

0

0

0

0

-

-

-

-

-

-

-

-

Proceeds from long-term debt obligations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,000

63,000

63,000

63,000

62,000

601

2,134

3,926

13,547

0

0

0

-

-

-

0

Proceeds from issuance of common stock upon exercise of stock options

16,400

8,200

10,200

12,000

12,100

15,900

19,901

23,195

21,043

19,300

12,918

7,181

16,462

17,100

25,040

27,323

23,212

25,961

19,324

17,271

12,285

14,078

14,999

15,884

14,481

6,848

2,771

1,293

1,023

761

1,685

1,732

6,070

10,026

0

0

0

Excess tax benefits from stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

10,600

14,104

14,482

11,653

11,281

8,423

8,049

6,831

5,987

6,716

6,521

6,061

3,099

2,055

2,038

2,078

1,588

4,588

4,129

5,687

4,608

0

0

0

Taxes paid on behalf of employees for equity activity

7,000

7,400

6,900

6,900

6,700

6,600

6,416

6,241

6,185

4,300

694

667

738

1,100

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments on long-term indebtedness

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

62,000

121,422

122,539

123,657

62,774

4,193

3,792

3,141

10,227

9,949

16,041

22,855

15,494

0

0

0

Payment of notes payable to Aptevo

-

-

-

-

-

-

-

-

-

20,000

20,000

20,000

20,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Contingent consideration payments

50,600

50,400

4,900

3,100

3,100

3,400

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

The cash outflow for contingent value rights.

-

-

-

-

-

-

-

-

-

-

2,918

2,834

2,216

1,400

1,492

1,662

5,683

5,693

5,315

5,562

1,854

1,579

2,039

1,367

835

348

0

0

0

1,748

0

0

0

-

-

-

-

Receipts and payments of restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

220

217

217

217

-3

0

0

0

Purchase of treasury stock

-

-

-

-

-

100

33,117

33,117

33,119

33,100

83

83

81

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Contingent value right payment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Net cash used in financing activities:

2,500

-35,900

807,900

829,300

732,400

788,700

-29,919

-28,358

-30,793

-51,400

-13,471

-61,245

-46,759

-19,800

-10,096

37,493

28,647

35,391

24,166

21,492

16,996

198,874

202,695

202,940

200,491

8,612

-3,215

-4,233

-2,020

-1,765

2,506

17,224

14,514

16,659

0

0

0

Effect of exchange rate changes on cash, cash equivalents and restricted cash

500

400

0

0

0

-

-

-

-

0

-113

-80

86

100

5

26

-114

-150

-12

11

-9

21

-3

-55

109

-14

9

13

-149

1

8

93

58

1

0

0

0

Net increase in cash, cash equivalents and restricted cash

44,300

55,600

-201,000

-13,700

-27,200

-66,900

-1,578

-125,314

-106,557

-93,200

42,041

-17,786

-70,863

-41,300

-9,786

118,554

124,500

32,296

66,469

46,711

56,300

101,161

69,688

11,887

29,977

37,672

-25,340

-5,600

-20,187

-2,235

72,555

39,749

13,500

-25,118

0

0

0

Supplemental disclosure of cash flow information:
Cash paid during the period for interest

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash paid during the period for income taxes

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Supplemental information on non-cash investing and financing activities:
Supplemental information on non-cash investing and financing activities:
Purchases of property, plant and equipment unpaid at period end

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-