Exlservice holdings, inc. (EXLS)
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'12Dec'11Sep'11Jun'11Mar'11
Cash flows from operating activities:
Net income

22,411

21,356

19,044

12,564

14,695

3,857

15,249

14,462

23,158

-9,355

21,077

20,378

16,788

15,488

16,050

16,375

13,820

14,762

15,162

12,074

9,567

7,460

6,075

7,763

11,147

15,859

13,240

9,236

9,762

12,163

11,703

9,054

8,916

9,554

8,390

8,475

8,361

Adjustments to reconcile net income to net cash (used for)/provided by operating activities:
Depreciation and amortization expense

12,472

12,560

13,101

12,808

13,724

13,374

14,066

10,624

10,655

10,213

9,708

9,637

9,426

9,580

8,597

8,270

8,133

8,294

8,057

8,061

7,053

7,979

7,014

6,679

6,356

6,074

5,969

6,362

6,512

6,891

6,333

6,040

6,359

6,589

6,443

5,110

4,852

Stock-based compensation expense

4,778

4,532

7,427

7,155

6,956

6,590

5,344

6,893

5,074

6,270

5,708

5,107

5,956

5,027

4,484

4,450

5,809

3,767

4,471

3,554

4,255

2,493

2,376

1,966

4,176

2,360

2,967

2,860

3,645

2,087

1,871

2,715

2,743

2,175

2,160

2,879

2,248

Amortization of operating lease right-of-use assets

6,853

6,791

6,843

6,684

7,017

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Unrealized gain on short term investments

-267

2,673

3,081

1,177

3,185

2,273

1,483

1,098

2,842

-4,437

2,191

2,246

0

-4,955

1,971

1,459

1,525

-

1,419

718

42

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-employee stock options

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

32

12

8

1

0

Unrealized foreign exchange (gain)/loss, net

5,112

340

1,948

-1,840

-127

-5,755

6,593

4,463

3,319

-1,077

1,197

582

-2,225

854

105

-1,019

1,061

948

1,464

1,670

-284

1,341

1,289

-311

-1,895

-10

3,004

5,746

-958

1,498

-2,348

3,504

-1,711

3,543

3,710

-360

-297

Deferred income tax expense

3,539

-5,486

-4,228

-3,680

1,049

361

-1,529

-2,890

3,433

6,148

-2,299

1,138

-4,256

-7,808

817

-39

3,646

-1,358

324

468

2,804

-312

-2,321

846

1,863

655

-544

1,182

1,191

2,669

3,329

-2,225

954

955

-1,432

325

-1,553

Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-3,810

-250

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts Receivable, Credit Loss Expense (Reversal)

195

181

152

-17

298

47

-30

22

-612

110

2,706

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss from equity-method investment

-55

-71

-69

-62

-67

-71

-62

-58

-56

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of deferred financing costs

635

636

618

618

600

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

38

38

38

-

38

38

38

90

0

0

0

Impairment charges

0

460

0

1,940

1,227

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Impairment charges

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Others, net

26

1,057

1,109

-2,362

1,401

-710

-70

-95

-28

-240

15

-34

7

23

17

55

12

29

40

238

-29

-330

27

30

-22

-

-

-

-

-

-

-

-

-

-

-

-

Non-controlling interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

1

1

-

-

-

-

-

-

-

-

Change in operating assets and liabilities:
Restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

778

-1,233

919

-526

116

-280

1,477

379

77

-211

502

-6

112

-283

239

-90

-3

233

-108

535

-62

-93

118

Accounts receivable

17,518

-9,382

-3

4,462

12,016

692

-2,365

11,129

590

-1,582

12,289

3,435

6,340

1,503

-3,062

5,131

14,490

-5,560

4,634

4,234

5,779

-2,422

1,633

-4,185

1,713

4,219

-2,437

834

3,062

-1,623

3,761

3,109

2,839

-3,061

2,912

4,207

1,051

Prepaid expenses and other current assets

3,249

-463

-2,785

2,624

-591

1,165

914

266

2,164

4,976

1,967

-8,446

1,285

4,834

-590

-2,464

3,641

4,089

-2,120

-1,656

2,799

2,039

-117

-2,179

4,187

-544

1,573

463

1,926

-2,924

842

1,583

2,292

-1,664

7,389

-1,609

544

Advance income tax, net

-1,109

982

4,867

3,444

-2,099

-9,919

3,377

6,301

-13,906

13,644

-1,490

354

-1,471

5,185

-1,569

1,250

-4,429

3,114

2,126

3,081

544

-2,337

759

-4,441

-1,822

-368

1,985

630

-141

-4,088

-413

2,371

817

-594

1,120

273

609

Other assets

-925

897

1,433

262

-388

1,203

1,310

2,498

1,789

3,465

-1,277

1,605

-1,569

-5,430

243

581

-148

648

355

148

257

-609

749

1,136

570

544

-1,162

569

-636

2,005

-269

-2,010

422

4,690

-5,058

480

-411

Accounts payable

1,400

1,981

267

-955

-1,159

1,054

-71

383

-1,726

1,335

-4,924

3,110

2,185

-110

-1,091

1,157

-2,584

1,646

-1,138

520

-984

644

-1,209

543

-124

788

120

-916

-367

3,229

479

-1,258

569

-570

-455

1,244

-1,059

Deferred revenue

2,579

3,432

-2,407

2,392

3,262

270

-5,000

-1,076

877

-

-

-

1,480

7,211

-6,481

2,662

2,334

3,481

-3,431

-1,318

3,834

-348

-1,634

133

902

3,217

-2,567

311

-265

-604

-1,724

-1,414

21

546

-849

-1,452

1,436

Accrued employee costs

-37,046

13,495

15,987

9,869

-22,436

8,952

13,031

6,944

-27,655

7,306

10,697

9,441

-21,053

9,116

6,470

9,285

-19,567

8,068

8,635

8,223

-16,398

-

-

-

-11,493

6,649

3,256

4,593

-11,192

878

5,834

5,947

-13,229

-

2,759

5,325

-10,109

Accrued expenses and other liabilities

972

1,981

6,960

-637

5,837

-648

-3,189

-564

3,317

6,636

6,341

-6,880

806

3,392

1,275

266

4,147

-726

-915

-2,561

-497

5,577

6,808

-2,974

-985

7,418

-4,735

1,811

1,071

302

-1,565

235

883

602

4,477

-531

3,972

Operating lease liabilities

-6,576

-5,385

-5,679

-8,550

-5,199

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash (used for)/provided by operating activities

-13,555

62,465

58,238

39,374

8,343

45,197

33,445

21,798

-8,005

42,732

25,354

39,050

6,023

46,353

29,127

37,356

-10,441

42,141

27,383

27,030

137

22,354

16,552

22,788

4,965

38,562

18,829

18,779

6,622

22,426

23,903

15,084

4,369

15,727

13,732

19,024

7,752

Cash flows from investing activities:
Purchases of property and equipment

12,274

7,830

10,021

11,409

10,878

10,367

10,774

6,616

12,680

8,395

6,312

10,333

10,114

5,515

5,463

6,415

8,457

4,458

6,747

5,535

8,845

3,916

7,125

5,958

10,679

4,181

1,454

3,671

6,610

1,796

3,809

3,900

9,299

7,093

3,771

1,446

7,158

Investment in equity affiliate

700

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Business acquisition (net of cash acquired)

-

-

-

-

-

-89

231,423

115

380

22,576

724

0

0

-

-

-

-

0

0

-149

44,419

-

-

-

-

0

0

0

1,183

-

-

-

-

-

-

-

-

Purchase of investments

23,830

70,040

49,746

20,505

47,683

75,477

17,294

20,353

20,310

204,824

28,475

39,585

129,837

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from redemption of investments

72,844

47,825

37,474

70,308

21,361

48,672

18,725

30,453

30,358

187,201

14,763

16,596

22,879

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of short-term investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

101,327

-

37,299

65,868

5,995

1,533

6,193

403

1,005

235

1,526

115

51

-2,327

6,386

1,923

1,369

923

6,007

1,816

72

Proceeds from redemption of short-term investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

20,004

-

22,639

2,922

3,079

-

-

-

-

-

-

-

-

-1,869

6,369

2,098

2,223

2,813

291

413

0

Net cash provided by/(used for) investing activities

36,040

-30,045

-22,293

38,153

-37,200

-37,083

-240,766

3,369

-3,012

-51,594

-20,748

-33,322

-117,072

71,575

-20,274

-16,188

-89,780

72,379

-21,407

-68,332

-56,180

-57,641

-12,576

-6,361

-11,684

-3,941

-2,245

-3,505

-7,844

-38,838

-3,826

-3,725

-8,445

-5,013

-10,570

-82,939

-7,230

Cash flows from financing activities:
Principal payments of finance lease liabilities

67

62

67

70

137

47

22

41

42

41

39

51

43

56

52

117

123

161

201

135

223

160

243

276

288

281

443

353

434

380

388

426

446

472

513

250

51

Proceeds from borrowings

110,000

0

0

0

46,000

1,614

233,000

0

12,000

60,574

0

0

0

-

-

-

-

0

0

0

30,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of borrowings

10,201

10,484

8,173

69,018

10,572

150,126

18

29

5,036

45,192

0

0

0

0

0

20,000

5,000

0

0

10,000

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments of Debt Issuance Costs

0

0

0

20

97

375

387

0

0

-

-

-

-

-

-

-

-

0

0

24

50

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition of treasury stock

13,995

5,480

8,346

12,130

15,408

10,316

9,657

9,632

13,504

11,118

9,004

11,419

11,913

3,034

5,465

2,849

6,855

1,180

7,910

4,708

397

0

2,863

0

459

21,229

0

0

389

0

0

149

182

0

-19

1,609

34

Proceeds from exercise of stock options

921

649

0

316

22

313

653

0

431

4,285

2,498

1,587

191

273

2,031

2,185

2,010

213

796

483

1,883

1,489

2,157

1,140

1,673

865

2,168

1,078

1,378

734

1,589

4,377

2,903

174

1,783

2,983

595

Net cash provided by financing activities

86,658

-15,377

-16,586

-80,922

19,808

-9,937

223,569

-9,702

-6,151

7,718

-6,545

-9,883

-11,765

1,509

-3,486

-20,781

-9,968

506

-7,315

-14,384

31,213

52,105

-949

864

926

-18,692

1,698

725

555

2,627

1,201

3,802

2,275

865

-7,173

30,664

510

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

-2,653

716

-1,521

215

-455

140

-426

-1,938

-644

2,133

223

1,111

468

-2,608

-106

-3,048

640

-359

-2,656

-982

-350

-1,747

-2,536

-46

1,420

-257

-458

-3,737

-63

-1,757

2,781

-2,913

1,680

-2,062

-2,468

63

329

Net increase/(decrease) in cash, cash equivalents and restricted cash

106,490

17,759

17,838

-3,180

-9,504

-1,683

15,822

13,527

-17,812

989

-1,716

-3,044

-122,346

116,829

5,261

-2,661

-109,549

114,667

-3,995

-56,668

-25,180

15,071

491

17,245

-4,373

15,672

17,824

12,262

-730

-15,542

24,059

12,248

-121

9,517

-6,479

-33,188

1,361