Evertec, inc. (EVTC)
CashFlow / Quarterly
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'12
Cash flows from operating activities
Net income

22,275

25,043

24,786

27,137

26,734

20,247

23,075

20,133

23,114

5,925

6,142

20,214

23,138

16,014

19,711

20,234

19,167

21,929

25,337

19,567

18,544

11,087

19,091

17,773

18,206

17,543

14,803

-64,935

5,472

73,589

2,276

-2,033

3,534

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization

17,795

17,642

16,972

17,195

16,273

15,684

15,788

15,728

15,867

16,061

16,606

15,899

15,684

15,067

14,889

14,941

14,670

15,207

16,933

16,006

16,828

16,531

16,453

16,390

16,614

17,292

17,657

17,842

17,575

17,975

17,765

17,830

17,922

Amortization of debt issue costs and accretion of discount

621

1,732

421

420

415

906

1,049

1,091

1,270

1,300

1,338

1,225

1,265

1,369

1,026

1,185

754

841

867

813

808

779

777

768

770

769

767

903

1,466

1,343

1,321

1,257

1,170

Operating lease amortization

1,173

-

387

2,107

1,472

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Provision for doubtful accounts and sundry losses

104

715

340

2,069

815

1,047

696

148

221

391

345

11

96

465

667

634

224

828

680

386

236

258

44

487

571

-281

128

166

660

354

118

776

397

Deferred tax benefit

-1,080

-2,194

-2,376

-939

-882

-1,877

-1,621

39

-1,152

2,032

-4,539

-312

-1,487

-2,136

-921

-733

-804

-924

-426

-973

-767

-2,215

-1,056

998

-1,428

3,304

-472

-6,017

-234

-61,906

550

-4,250

-962

Share-based compensation

3,483

3,402

3,453

3,436

3,279

2,900

2,370

3,685

3,637

3,063

2,390

2,183

2,006

1,839

1,166

1,799

1,604

1,456

1,557

1,542

649

3,273

649

315

350

460

236

5,152

331

315

332

297

260

Unrealized gain on indemnification assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2

9

3

-

-286

6

-179

-404

2

35

-16

-

-

-

175

Amortization of a contract liability

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-1,406

703

Loss on disposition of property and equipment and other intangibles

-81

-202

-46

-623

-22

-97

-1

0

-11

-201

-53

-59

-117

-341

10

-155

33

-19

-123

33

-34

-711

41

-7

-57

-508

2

-21

-11

-1,609

-15

-67

20

Earnings of equity method investment

338

174

371

133

222

88

238

175

199

187

155

115

143

6

43

29

-130

-49

-3

84

115

235

241

343

321

112

198

348

277

461

-472

509

66

(Increase) decrease in assets:
Accounts receivable, net

-11,729

14,326

-1,091

-1,423

-3,961

18,117

875

-7,626

6,815

7,545

-4,493

166

-1,119

9,941

-4,582

-2,818

42

8,227

-1,747

-7,414

5,416

5,896

-2,354

2,306

-261

-4,611

-8,543

3,704

-4,196

12,135

8,078

-317

-3,930

Prepaid expenses and other assets

1,836

1,502

1,435

507

5,326

-551

226

-872

5,108

235

-2,254

158

5,909

-2,197

651

2,137

835

2,776

-4,321

888

803

-4,348

16

2,832

1,435

-3,038

-2,826

3,968

1,449

157

-1,421

941

-1,934

Other long-term assets

2,477

300

-1,610

502

2,558

4,152

-53

-784

1,117

-207

-1,259

-425

237

627

-663

1,913

-87

269

-249

699

-649

-868

-686

-703

-1,108

-547

1,605

-515

838

-

-

-

-

Increase (decrease) in liabilities:
Accrued liabilities and accounts payable

-20,662

6,619

11,121

384

-18,339

19,731

5,182

-3,951

-4,905

8,257

88

6,070

-15,285

10,908

10,479

1,277

-8,070

6,965

7,719

2,605

-1,342

3,432

-3,237

3,919

-8,039

-995

-15,138

-10,701

7,354

-4,676

11,216

-4,217

4,477

Income tax payable

3,307

1,484

2,633

-4,904

191

967

1,791

-229

2,716

-3,339

2,058

-726

1,658

-1,096

-52

-607

2,160

1,288

-19

-1,543

-332

11

144

39

1,503

13

-846

-670

-1,197

777

91

88

-1,380

Unearned income

1,075

4,786

2,714

-750

4,754

-634

4,553

457

2,645

3,874

444

1,062

3,064

1,477

3,963

1,359

1,219

843

-216

452

1,128

300

368

1,285

1,618

1,341

889

959

777

231

159

-139

15

Operating lease liabilities

-1,409

-1,230

-1,948

-1,596

-1,281

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other long-term liabilities

84

-276

288

1,148

31

4,376

-11

-110

183

2,382

-1,868

78

219

3,829

-292

210

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total adjustments

11,650

18,739

35,431

19,474

2,605

24,044

28,512

26,355

7,254

31,426

31,239

25,535

2,167

27,439

35,466

18,959

11,064

16,166

22,306

27,016

11,554

24,934

17,170

19,750

11,808

31,383

12,783

17,202

28,359

-60,028

24,832

13,305

27,189

Net cash provided by operating activities

33,925

43,782

60,217

46,611

29,339

44,291

51,587

46,488

30,368

37,351

37,381

45,749

25,305

43,453

55,177

39,193

30,231

38,095

47,643

46,583

30,098

36,021

36,261

37,523

30,014

48,926

27,586

-47,733

33,831

13,561

27,108

11,272

30,723

Cash flows from investing activities
Net (increase) decrease in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

681

-961

-3,256

-1,728

7,285

-1,162

1,705

-408

931

-52

-186

337

113

156

-112

233

-815

13

220

Additions to software

6,055

8,902

7,946

11,106

8,917

12,001

6,370

3,807

5,208

6,219

5,966

6,129

3,860

6,350

7,454

8,178

1,837

12,498

6,749

5,216

1,497

5,607

3,259

4,855

986

7,136

1,664

5,730

2,197

5,466

1,718

2,573

1,139

Acquisitions, net of cash acquired

-

-

-

-

-

-

-

-

-

-

-

-

-

9,653

0

-1

5,948

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Property and equipment acquired

3,357

1,008

6,369

10,554

5,071

4,313

2,783

2,680

4,157

3,005

2,800

2,811

2,674

4,434

4,999

7,838

1,179

5,379

6,994

7,607

1,042

3,435

3,568

2,394

1,501

4,312

2,996

2,127

2,257

9,073

2,374

2,634

2,532

Proceeds from sales of property and equipment

0

10

72

-3

32

4

1

14

0

-

-

-

-

37

4

1

39

-

-

-

-

15

41

2

1

0

5

3

8

38

37

35

8

Net cash used in investing activities

-9,412

-15,485

-14,243

-21,663

-13,956

-16,310

-9,152

-6,473

-9,365

-9,222

-51,597

-8,915

-6,534

-23,936

-13,130

-15,053

-5,669

-16,149

-21,025

-11,650

-4,244

-8,619

-7,717

-7,195

-2,300

-11,785

-4,768

-8,010

-4,334

-14,734

-3,240

-5,185

-3,883

Cash flows from financing activities
Statutory withholding taxes paid on share-based compensation

2,706

2,545

142

234

5,928

31

114

1,810

204

12

91

389

1,096

26

232

98

192

-

-

-

-

997

234

636

134

147

16

16,688

0

-

-

-

-

Net decrease in short-term borrowings

-

-

-

-

-

0

0

0

-12,000

-21,000

-15,000

21,000

-1,000

12,000

-4,000

5,000

-2,000

-1,000

14,000

-16,000

-3,000

15,000

-15,000

-17,000

-10,000

58,663

-8,663

4,332

-18,332

-

-

-

-

Net proceeds under short-term borrowings

0

-

-

-

15,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of short-term borrowings for purchase of equipment and software

792

34

34

784

34

34

-14

586

114

501

876

499

497

1,004

431

389

389

-

-

-

-

0

0

600

600

-

-

4,332

0

-

-

-

-

Dividends paid

0

3,596

3,597

3,610

3,617

3,637

3,636

0

0

0

7,239

7,259

7,264

7,324

7,408

7,483

7,481

7,599

7,780

7,744

7,798

7,812

7,867

7,841

7,839

-

-

-

0

-

-

-

-

Tax windfall benefits on share-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

1,732

455

1,084

398

202

1,157

470

0

-

-

-

-

Issuance of common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

200

0

250

Repurchase of common stock

7,300

3,351

253

10,710

17,486

10,000

0

0

0

29

0

3,906

3,765

10,250

14,094

13,144

2,458

19,976

24,982

1

9,990

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of long-term debt

20,560

3,562

3,563

3,562

3,563

572,111

5,112

31,221

5,041

5,041

5,041

4,854

4,853

80,616

6,625

4,750

4,750

4,750

4,750

4,750

4,750

4,750

4,750

4,750

4,750

4,751

4,751

742,851

2,671

-

-

-

-

Credit amendment fees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

13

50

32

0

112

112

0

-

-

-

-

Net cash used in financing activities

-31,358

-13,110

-7,589

-33,900

-15,628

-45,231

-8,848

-33,617

-17,359

-26,554

-28,247

4,093

-18,475

-16,287

-32,790

-24,451

-17,270

-33,600

-25,054

-28,526

-25,538

-24,304

-27,149

-29,739

-22,957

-42,826

-14,445

41,202

-21,003

-23,305

88

-63,221

250

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

828

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net decrease in cash, cash equivalents and restricted cash

-6,017

15,187

38,385

-8,952

-245

-17,250

33,587

6,398

3,644

1,575

-42,463

40,927

296

3,230

9,257

-311

7,292

-11,654

1,564

6,407

316

3,098

1,395

589

4,757

-5,685

8,373

-14,541

8,494

-24,478

23,956

-57,134

27,090

Supplemental disclosure of cash flow information:
Cash paid for interest

6,372

6,565

7,022

7,256

7,390

6,968

6,274

7,123

6,526

6,388

6,711

6,289

5,991

10,521

1,789

5,188

5,037

4,659

5,888

5,617

5,333

-

-

-

-

-

-

-

-

-

-

-

-

Cash paid for income taxes

2,083

6,168

2,450

6,589

3,496

2,600

2,431

3,645

1,074

2,437

2,377

3,750

1,366

3,842

40

4,155

660

1,082

999

981

2,620

-

-

-

-

-

-

-

-

-

-

-

-

Operating cash flows from operating leases

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating cash flows from finance leases

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Supplemental disclosure of non-cash activities:
Foreign currency translation adjustments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

378

794

-7,745

-

-604

0

2,354

-

-

-

-

Payable due to vendor related to equipment and software acquired

1,482

-85

-2,531

4,345

893

-13

-30

-533

893

-383

-940

-475

2,835

502

-756

243

3,313

2,513

0

-2,873

3,998

-

-

-

-

-

-

-

-

-

-

-

-