Flir systems, inc. (FLIR)
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'11Dec'10Sep'10Jun'10Mar'10
CASH PROVIDED BY OPERATING ACTIVITIES:
Net earnings

15,424

1,684

62,047

46,118

61,748

98,516

73,151

71,563

39,195

-50,290

63,529

51,413

42,571

61,500

58,633

45,368

1,125

70,204

73,072

50,500

47,910

72,752

52,857

44,758

29,894

28,735

46,486

50,158

51,636

77,261

55,905

41,093

48,139

76,131

64,719

29,309

51,315

69,822

62,955

59,454

55,895

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

24,225

27,095

27,122

32,253

16,662

17,099

16,308

16,609

16,446

17,584

18,418

17,977

17,031

15,656

14,079

13,839

13,939

13,069

11,854

12,122

12,489

12,967

13,572

14,236

16,470

17,818

14,876

15,231

14,871

14,856

14,843

14,809

15,207

16,290

17,577

23,738

19,893

21,831

14,401

13,299

11,766

Stock-based compensation

7,646

9,318

10,093

9,188

8,090

9,208

10,562

8,469

5,931

6,273

9,891

8,608

6,246

6,544

6,872

8,293

6,088

6,299

6,511

8,181

4,757

6,782

6,803

8,447

8,756

7,150

7,346

7,631

5,696

6,253

6,597

7,865

5,535

5,604

5,437

7,588

6,288

6,565

6,088

6,788

6,134

Gain (Loss) on Disposition of Assets

-2,991

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes

-165

46,131

-3,384

1,965

222

12,685

-1,270

-1,385

4,574

28,305

-2,187

-342

192

5,813

172

-145

-227

20,101

-17,380

46

96

-2,213

56

-592

1,507

-2,671

-64

-18

44

-11,539

504

85

10

-10,291

-580

-1,259

-65

-5,702

-6,914

-2,747

1,264

Other, net

3,152

-4,084

-3,659

2,292

1,328

-188

-2,824

148

6,696

3,249

8,796

15,469

3,742

7,838

-4,379

-9,644

-5,807

-3,376

-5,169

-2,480

3,303

4,032

-6,840

2,109

1,490

-3,079

-2,062

2,951

-2,374

-54

514

-4,056

5,406

-9,647

-3,636

4,055

-3,426

-9,518

3,559

-4,243

-118

Increase (decrease) in cash, net of acquisitions, resulting from changes in:
Accounts receivable

-12,118

-13,912

-24,588

-6,643

25,771

34,209

-13,643

-21,279

-28,344

20,805

11,478

20,320

-44,845

30,655

30,760

-21,866

-28,845

15,037

-20,701

13,027

-35,621

59,283

33,351

-477

-15,452

4,216

1,349

-26,895

-27,310

30,783

13,265

-25,823

-28,918

8,719

-7,761

3,865

-22,815

44,057

-3,536

15,209

-8,019

Inventories

14,453

-5,855

6,611

6,132

17,472

-22,475

-8,590

4,880

8,760

2,372

3,654

14,146

12,789

-30,959

-5,216

-17,085

2,090

2,285

28,459

17,072

27,000

-18,559

-218

12,838

-5,424

-28,700

7,251

-23,436

9,704

1,306

5,284

5,693

11,450

13,440

10,717

4,802

19,402

688

12,322

4,252

7,889

Prepaid expenses and other current assets

-382

1,787

-11,530

13,431

-1,944

1,233

3,839

-314

-1,331

-6,080

1,755

671

2,437

4,577

1,495

-2,041

3,675

-74

-1,295

4,477

-4,966

4,494

-10,015

189

-422

-7,576

-5,101

6,009

1,234

-14,363

3,864

10,998

505

-28,946

28,126

3,249

8,675

-3,580

-13,177

13,848

-21,066

Other assets

391

10,375

-7,862

47

-3,659

-4,073

-307

1,240

477

8,364

-5,069

-5,689

-9,633

-8,111

10,248

4,071

4,542

2,558

3,385

-1,246

-364

-2,348

14,421

1,459

10,729

-3,391

1,863

60

2,988

-1,429

-873

256

167

3,087

-744

1,820

1,426

23,329

-1,681

6,668

257

Accounts payable

1,592

12,879

12,427

427

26,019

-283

-11,073

-2,943

-8,150

10,188

13,307

2,526

-4,463

2,042

8,658

-10,496

-33,669

9,649

4,472

14,731

9,808

8,678

-8,402

8,237

6,527

-8,243

3,491

5,771

-9,636

5,048

-2,424

3,616

-7,912

2,790

-7,937

1,784

-2,202

1,959

4,928

-8,579

13,255

Deferred revenue

2,140

-13,274

5,224

6,394

-4,531

2,225

3,125

2,414

317

-3,428

-2,488

-2,803

-501

-1,931

5,911

-2,406

1,354

3,609

-2,409

2,292

11

2,287

1,567

670

-4,431

-1,467

3,316

-2,339

-169

5,535

-3,945

-2,532

2,095

1,960

1,605

223

1,638

-9,789

-2,060

3,845

-7,444

Accrued payroll and other liabilities

11,084

-4,219

9,153

-5,216

-8,057

3,368

14,354

3,637

-14,760

3,364

10,774

17,174

-14,236

-2,308

21,079

-6,041

-22,877

10,351

7,115

-13,632

-14,538

11,445

322

13,493

-8,020

45,882

-17,483

8,647

-1,029

-3,977

-3,858

954

-18,534

8,448

-2,665

-9,985

-21,397

1,538

4,938

-5,595

-6,634

Accrued income taxes

-6,259

-5,168

-11,670

-6,163

-1,722

-39,126

-2,684

-3,643

-29,435

90,999

11,995

-14,527

-4,115

12,841

5,265

-8,992

57,188

-119

-6,187

3,428

1,802

-5,930

1,366

-2,840

-1,097

-6,551

-5,718

9,501

-16,130

34,642

-1,254

-2,897

-10,350

-598

-5,695

-9,809

6,237

8,449

-5,948

6,076

-11,505

Other long-term liabilities

-2,316

-6,254

1,484

-1,917

-3,952

-21

-1,499

122

15,316

1,043

1,457

-4,982

-3,108

987

1,030

1,885

-1,320

-1,621

1,251

2,114

1,944

2,978

-326

297

1,140

-14,009

3,578

-589

918

1,038

2,126

1,311

3,415

2,515

145

-4,393

3,941

5,609

4,153

5,637

-1,341

Net cash provided by operating activities

50,866

93,547

153,524

67,790

55,511

98,314

122,499

110,168

43,176

98,916

104,082

30,127

75,127

97,144

88,791

87,870

45,946

95,946

73,620

48,932

74,927

62,844

32,987

70,588

59,825

105,174

52,528

135,304

61,959

112,874

46,440

77,236

48,995

116,196

45,904

19,405

62,386

45,306

85,054

42,680

82,211

CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to property and equipment, net

12,717

12,760

14,253

8,641

9,140

10,108

7,230

6,336

7,099

10,275

8,207

10,033

13,594

8,258

6,806

10,884

9,992

18,088

19,363

17,614

13,169

20,334

15,100

16,238

9,590

15,064

13,706

10,643

12,648

18,901

12,759

13,494

12,935

10,850

12,366

14,463

4,267

14,523

7,156

7,219

36,850

Proceeds from sale of assets

0

0

3,392

0

2,973

-

-

-

0

-

-

-

-

49,776

0

-47,320

4,875

25,619

0

0

30

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of business

-

-

-

-

-

0

0

0

25,920

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Business acquisitions, net of cash acquired

0

0

-529

22,900

579,556

4,598

7,971

7,125

7,070

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Minority interest and other investments

0

6,030

0

0

5,000

0

6,000

0

9,500

2,859

0

-2,859

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1

-4,081

0

1,000

Net cash used in investing activities

-12,717

-18,790

-10,332

-31,541

-590,723

-11,689

-21,201

-13,461

2,251

-9,448

-8,207

-7,174

-13,594

-384,671

-4,695

-53,329

-5,117

-84,729

-19,363

-17,614

-13,139

-20,334

-3,100

-16,238

-9,590

-15,064

-28,614

-15,808

-12,648

-124,812

-12,759

-16,494

-12,935

-8,859

-37,197

-16,814

-4,267

-242,774

-3,061

-181,704

-37,850

CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of credit facility

3,021

-

15,539

3,095

375,000

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net proceeds from credit facility and long-term debt, including current portion

175,000

0

0

0

723,054

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of credit facility and long-term debt

-

-

-

-

-

-

-

-

-

0

86,250

3,750

7,500

0

254,935

108,750

3,750

3,750

3,750

3,750

3,750

3,750

3,750

3,750

3,750

3,750

3,750

3,750

0

-

-

-

-

-

-

-

-

-

-

-

3

Payments for Repurchase of Common Stock

150,000

0

75,004

24,998

24,998

143,749

0

5,001

94,956

0

0

0

0

-

-

-

-

-

-

-

-

62,614

33,621

41,237

1,766

29,029

16,219

8,469

108,361

85,185

38,809

64,812

25,389

36,285

100,583

17,026

6,775

-

-

-

-

Dividends paid

22,728

22,848

22,788

23,033

23,031

21,649

22,121

22,098

22,232

20,829

20,763

20,557

20,456

16,356

16,474

16,583

16,507

15,206

26,557

4,259

15,377

14,103

14,165

14,160

14,085

12,709

12,786

12,803

13,106

-

10,535

10,701

10,784

9,351

9,518

9,597

9,571

-

-

-

-

Proceeds from shares issued pursuant to stock-based compensation plans

1,459

7,642

3,426

7,629

9,721

4,940

7,294

13,393

3,497

14,010

37,196

6,033

1,002

4,619

806

2,552

3,989

1,311

17,147

-373

4,414

13,413

5,199

20,093

8,876

2,697

2,068

2,706

1,179

4,081

1,461

4,780

876

6,621

804

7,248

7,033

9,486

5,632

5,203

1,148

Payment, Tax Withholding, Share-based Payment Arrangement

879

-

112

9,333

1,013

-

2,550

11,848

265

-

483

7,179

1,843

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Tax paid for net share exercises and issuance of vested restricted stock units

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-5,588

-28

-11,248

4,224

-787

779

3,456

1,146

3,861

2,698

141

459

235

234

53

679

214

338

727

2,142

734

1,592

2,057

2,632

2,550

410

Other financing activities

0

2

-3

-103

-419

1

-1

0

-11

-4

-9

-3

-1

3

0

7

3

-

-

-

-7

18

-22

-266

252

173

-307

-944

-22

-27

1

-96

-44

-141

-290

-3

-24

103

-21

-17

55

Net cash (used in) provided by financing activities

-169

-91,325

-110,016

-52,933

308,314

-162,045

-17,378

-25,554

-113,967

-8,049

-70,309

-25,456

-28,798

-12,216

-308,012

367,657

-16,293

-58,719

-79,399

-32,090

-13,941

-63,580

-45,213

-35,459

-7,775

-42,477

-30,535

126,975

-120,076

-91,508

-47,203

-70,615

-35,003

-38,429

140,263

-18,644

-7,745

11,646

5,808

-25,557

1,616

Effect of exchange rate changes on cash and cash equivalents

-13,957

5,769

-6,670

1,206

-883

-5,771

1,473

-15,349

1,588

710

7,804

8,658

3,352

-16,596

-1,575

-9,632

13,292

-5,089

-9,672

13,182

-31,441

-12,929

-21,374

-913

-841

2,644

6,387

-45

-4,967

696

8,240

-8,522

6,263

-2,561

-10,093

1,446

6,718

-944

7,581

-12,718

-6,204

Net increase (decrease) in cash and cash equivalents

24,023

-10,799

26,506

-15,478

-227,781

-81,191

85,393

55,804

-66,952

82,129

33,370

6,155

36,087

-316,339

-225,491

392,566

37,828

-52,591

-34,814

12,410

16,406

-33,999

-36,700

17,978

41,619

50,277

-234

246,426

-75,732

-102,750

-5,282

-18,395

7,320

66,347

138,877

-14,607

57,092

-186,766

95,382

-177,299

39,773