F5 NETWORKS, INC. FFIV Cash Flow

F5 networks, inc. (FFIV)

CashFlow / Quarterly

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
61,379	98,527	94,837	85,905	116,087	130,905	132,881	122,743	109,636	88,429	135,743	97,662	93,138	94,218	108,935	91,789	75,415	89,716	97,037	93,172	85,729	89,076	94,021	79,473	69,641	68,048	76,231	68,178	63,412	69,493	67,717	72,336	68,641	66,492	67,610	62,549	55,575	55,663	48,235	40,495	33,144	29,279
Adjustments to reconcile net income to net cash provided by operating activities:
Realized loss (gain) on disposition of assets and investments
-	-	-	-	-	-	331	-12	-3	-49	-24	456	37	-30	-671	9	-4	-27	-351	46	30	-7	16	59	61	59	-3	-27	243	-26	6	-95	122	-579	-40	21	-30	212	8	104	12	1
Stock-based compensation
50,786	47,661	43,732	40,999	39,494	38,689	36,848	38,739	41,320	40,948	41,586	43,234	43,895	46,611	38,317	38,437	41,773	38,233	41,634	36,517	36,777	30,625	25,159	31,833	35,636	34,528	22,031	27,861	27,610	26,710	26,343	23,537	23,345	22,123	22,134	22,907	21,766	22,940	19,782	17,406	16,521	17,064
Provisions for doubtful accounts and sales returns
-	-	-	-	-	-	-33	803	98	593	-19	-70	164	291	650	354	225	297	220	-43	966	345	761	499	442	1,168	441	6	229	349	511	428	218	415	529	467	-242	228	412	-463	2,206	-949
Depreciation and amortization
24,133	18,979	21,862	18,399	14,245	14,001	15,410	14,032	14,869	15,180	15,545	15,325	15,391	14,887	14,492	14,437	14,084	13,763	13,358	12,971	13,212	13,042	12,066	11,377	11,241	11,437	10,300	9,792	9,979	9,934	10,152	10,052	9,113	5,822	5,172	5,179	5,286	5,250	5,910	5,835	6,094	5,994
Non-cash operating lease costs
-	8,703	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
-85	31	-	-	294	-251	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on auction rate securities put option
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,510	-500	519
Loss on trading auction rate securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,510	538	-519
Deferred income taxes
7,067	-1,714	-2,731	6,565	892	2,714	1,569	1,599	3,416	14,226	-3,319	-1,093	2,731	-2,945	-6,328	1,871	3,187	4,237	-7,368	-3,990	-1,444	231	1,299	-898	5,211	-8,702	4,075	-2,288	-48	-1,265	-3,236	588	-1,047	-598	4,874	693	-192	-888	-2,416	5,319	11,873	-6,533
Changes in operating assets and liabilities (excluding effects of the acquisition of businesses):
Accounts receivable
-37,000	32,683	2,056	-8,170	-4,502	28,921	-2,056	7,259	-76	-238	-3,180	1,143	-19,175	45,327	5,575	-2,581	-12,748	22	18,586	-1,599	7,726	13,967	-69	20,087	3,131	17,746	-1,683	12,348	-16,054	24,256	-8,022	10,090	-4,462	22,601	11,464	12,305	675	30,082	9,715	12,981	-18,964	2,633
Inventories
-1,439	-2,020	-1,609	2,546	1,904	991	-754	1,810	400	-722	-1,211	-1,503	-1,130	-374	247	-1,375	1,608	-146	3,690	684	1,761	3,111	1,328	2,433	1,659	25	767	297	-760	1,313	373	14	-469	344	-792	-213	-29	-632	1,069	1,274	1,653	1,000
Other current assets
14,109	5,494	21,068	18,646	8,958	26,777	-4,017	-6,097	6,024	-11,517	15,953	386	-1,755	306	1,796	-16,222	15,734	568	406	1,335	4,672	120	28	-14,348	26,337	-2,189	-14,455	-11,129	24,219	4,979	-12,854	-3,400	13,373	3,879	452	-16,250	15,569	-7,771	6,684	5,899	3,158	1,323
Other assets
6,309	-2,011	13,957	11,468	-2,840	157	-514	-1,043	415	696	1,631	-517	1,333	-391	1,261	-675	171	-45	-132	41	-18	-460	1,446	-201	-619	1,876	834	-896	-193	-428	-110	932	-126	-562	-446	225	353	-213	3,117	-3,689	4,336	-2,298
Accounts payable and accrued liabilities
21,670	-23,606	36,778	21,186	14,724	2,022	23,006	-11,115	2,908	-8,216	16,254	-6,802	-16,010	37,082	42,139	-10,766	-1,917	3,761	19,896	12,430	-19,091	26,286	19,998	-5,632	-29,638	33,611	9,370	-5,823	-23,168	36,411	13,042	-7,022	-22,643	26,576	10,390	-3,167	-404	13,657	12,003	13,437	-6,412	-6,871
Deferred revenue
4,131	39,856	31,605	1,067	11,924	66,122	-12,386	17,167	19,268	26,967	20,444	14,273	15,341	44,006	14,073	13,510	5,112	54,236	40,765	21,957	40,318	43,521	19,310	29,612	20,003	36,353	11,007	29,097	10,103	33,268	13,419	21,021	32,415	36,732	21,423	8,536	25,552	28,393	19,756	13,151	15,059	28,297
Lease liabilities
-15,731	-10,217	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by operating activities
181,808	144,012	206,086	150,345	193,552	197,858	204,305	182,051	184,755	189,957	213,065	162,564	175,340	189,312	204,070	170,476	133,118	203,871	183,343	172,507	142,296	186,395	169,865	138,234	81,967	158,926	147,995	126,230	80,662	144,806	148,555	113,399	101,604	131,879	121,494	101,076	91,229	103,139	86,391	75,309	77,920	73,992
Investing activities
Purchases of investments
14,566	180,557	392,878	-978	20,203	190,884	356,340	145,670	114,782	238,632	191,452	109,150	47,253	98,983	129,482	86,301	31,585	107,340	262,192	92,864	76,883	177,936	128,590	97,626	141,987	147,534	194,014	297,579	133,864	313,114	279,360	298,090	219,904	262,499	286,785	251,652	189,661	251,499	305,931	239,662	211,738	119,672
Maturities of investments
87,195	150,697	117,397	156,204	200,063	151,537	143,651	108,518	73,190	113,771	118,571	84,218	81,916	105,744	173,916	71,740	77,579	95,586	69,427	140,127	130,791	120,982	86,231	95,652	174,074	168,026	104,546	180,240	163,948	165,193	200,516	208,339	176,644	199,102	246,353	287,559	162,412	98,818	206,123	167,107	148,272	82,323
Sales of investments
209,491	22,764	1,966	273,779	2,499	0	1,988	1,500	0	9,248	1,001	25,120	29,526	11,211	4,012	15,094	0	47,742	6,891	119,190	76,518	2,693	69,703	46,471	43,659	54,660	73,840	0	115,151	23,020	5,000	0	74,558	1,886	-100	0	19,945	61,032	-	-	-	-
Decrease (increase) in restricted cash
-	-	-	-	-	-	-	-	-	-	-	51	68	-32	32	-21	31	-39	-44	57	387	-43	-54	21	-32	6	-101	-16	1	728	-11	5	22	3	-425	444	-77	39	-2,556	4	21	1
Acquisition of intangible assets
-	-	-	-	-	-	-	-	-	-	0	0	0	4,000	1,500	0	0	3,250	555	0	5,219	1,005	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash provided by sale of fixed asset
-	-	-	-	-	-	0	0	0	1,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of property and equipment
13,159	22,304	20,534	32,952	29,010	21,046	17,391	19,828	9,755	6,491	7,506	7,460	9,582	14,133	17,579	16,116	16,501	13,292	18,592	21,213	10,183	10,319	7,082	5,517	5,139	4,980	5,149	6,665	6,981	7,788	11,323	5,726	6,961	5,857	9,901	8,840	6,213	5,491	2,506	3,279	3,192	3,648
Net cash (used in) provided by investing activities
-686,613	-29,400	-294,049	-213,541	153,349	-60,393	-228,092	-55,480	-51,347	-121,104	-79,299	-7,323	54,539	-129	29,335	-15,562	29,462	19,485	-204,977	145,183	114,637	-65,542	20,316	-10,480	70,639	70,166	-108,400	-123,988	13,335	-133,417	-85,156	-95,482	-104,270	-67,371	-55,643	26,623	-13,520	-97,179	-54,708	-75,838	-66,679	-40,998
Financing activities
Excess tax benefit from stock-based compensation
-	-	-	-	-	-	-	-	-	-	548	1,232	2,299	2,940	1,012	218	184	1,194	2,906	2,425	1,548	2,638	2,128	3,347	4,626	182	435	1,261	1,892	503	945	3,970	4,057	1,399	3,402	3,935	6,156	10,130	10,113	6,719	5,015	4,685
Proceeds from the exercise of stock options and purchases of stock under employee stock purchase plan
484	20,959	143	26,555	0	18,900	0	28,901	2	19,915	80	28,091	32	18,836	21	26,254	120	18,474	13	23,771	82	16,573	52	21,330	729	13,188	186	17,365	457	11,583	232	14,849	516	9,577	108	11,913	376	8,842	2,332	10,189	5,422	13,727
Repurchase of common stock
50,009	0	0	0	100,013	101,032	150,017	150,018	150,021	150,025	150,025	150,023	150,021	150,021	150,023	150,024	200,042	200,035	149,995	150,000	156,883	149,980	150,000	150,542	150,000	200,000	50,000	50,000	50,000	50,000	50,000	50,000	50,303	34,473	150,000	50,000	46,528	24,998	20,000	20,000	20,000	15,000
Net cash provided by (used in) financing activities
347,435	20,959	143	26,555	-100,013	-82,132	-150,017	-121,117	-150,019	-130,110	-149,397	-120,700	-147,690	-128,245	-148,990	-123,552	-199,738	-180,367	-147,076	-123,804	-155,253	-130,769	-147,820	-125,865	-144,645	-186,630	-49,379	-31,374	-47,651	-37,914	-48,823	-31,181	-45,730	-23,497	-146,490	-34,152	-39,996	-6,026	-7,555	-3,092	-9,563	3,412
Net (decrease) increase in cash, cash equivalents and restricted cash
-157,370	135,571	-87,820	-36,641	246,888	55,333	-173,804	5,454	-16,611	-61,257	-15,631	34,541	82,189	60,938	84,415	31,362	-37,158	42,989	-168,710	193,886	101,680	-9,916	42,361	1,889	7,961	42,462	-9,784	-29,132	46,346	-26,525	14,576	-13,264	-48,396	41,011	-80,639	93,547	37,713	-66	24,128	-3,621	1,678	36,406
Effect of exchange rate changes on cash, cash equivalents and restricted cash
-1,910	820	-1,289	154	-311	46	-752	-2,164	530	46	-1,980	598	650	-2,575	559	-90	2,186	-152	-3,010	689	-3,029	-2,632	-2,832	248	547	-827	1,197	-2,250	-1,247	-93	998	-588	367	-307	-2,381	42	369	-555	813	-1,090	-439	42
Supplemental disclosures of cash flow information
Cash paid for amounts included in the measurement of operating lease liabilities
17,360	12,707	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Supplemental disclosures of non-cash activities
Right-of-use assets obtained in exchange for lease obligations
4,888	394,315	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Capitalized leasehold improvements paid directly by landlord
0	0	461	5,673	13,430	15,384	9,958	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-