Globus medical, inc. (GMED)
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

25,949

45,529

38,307

38,164

33,210

0

71,958

44,978

39,538

24,376

25,591

28,667

28,714

24,298

26,227

25,806

28,010

37,601

26,481

24,054

24,648

27,638

23,061

20,647

21,139

20,985

20,310

7,426

19,891

20,767

16,487

19,001

17,576

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

14,568

14,046

13,575

12,859

12,254

0

22,397

9,757

9,476

8,294

10,838

10,695

12,240

17,235

7,838

7,022

6,676

6,415

6,090

5,905

5,674

5,697

5,373

5,387

5,297

5,186

4,859

4,742

4,610

4,608

4,612

4,507

4,381

Amortization of premium (discount) on marketable securities

-20

81

272

340

396

0

-200

-692

-785

-4,929

403

847

1,008

1,001

982

1,132

953

1,002

982

730

640

607

507

765

801

-

-

-

-

-

-

-

-

Write-down for excess and obsolete inventories

679

559

-529

301

2,167

0

5,069

2,923

2,483

3,361

3,196

3,291

1,671

5,917

2,383

2,311

2,225

2,802

2,392

2,201

2,529

1,523

1,904

1,722

1,813

1,807

2,942

1,463

2,000

733

1,686

1,850

1,850

Stock-based compensation expense

6,807

6,438

6,898

6,301

6,448

0

10,366

5,480

6,053

4,027

3,597

3,571

3,491

2,945

2,747

2,920

2,770

2,704

2,266

2,538

2,131

1,900

1,661

1,623

1,927

1,312

1,387

1,166

1,312

953

1,545

1,026

1,111

Excess tax benefit related to nonqualified stock options

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

656

633

684

-

-

-

-

-

-

-

-

-

-

-

-

Allowance for doubtful accounts

756

294

1,503

1,196

33

0

645

95

217

583

177

164

794

365

172

60

88

508

240

670

47

82

124

23

89

459

145

35

54

27

21

89

226

Change in fair value of business acquisition liabilities

506

1,208

0

0

579

0

569

182

234

229

200

333

478

2,866

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in deferred income taxes

-2,895

1,868

1,010

365

1,059

0

-458

1,553

-124

7,477

5,053

-1,839

-2,399

-2,454

-2,981

1,234

391

10,350

932

-2,830

-2,217

736

-884

-1,816

-2,415

-3,720

-5,332

-3,906

-1,900

-1,022

-3,185

-923

-949

(Gain)/loss on disposal of assets, net

-207

-348

-223

-201

-94

0

-390

3,947

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(Increase)/decrease in:
Restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-10,758

784

-15,668

734

703

1,312

0

-

-

-

-

-

-

-

-

-

-

-

-

Accounts receivable

-14,131

12,939

-1,165

3,999

2,533

0

19,532

-2,823

5,080

22,755

-972

947

2,225

7,779

-487

-423

-2,201

725

5,059

297

-1,888

11,781

-1,605

1,679

812

7,469

-2,267

-1,787

6,197

1,609

2,227

-1,135

4,185

Inventories

12,108

9,149

12,775

14,250

13,844

0

20,262

9,914

1,206

-1,679

2,304

2,550

2,102

3,894

2,797

1,560

2,252

2,329

5,347

4,290

7,361

5,466

3,041

5,501

3,993

963

2,760

5,946

7,009

5,954

5,258

5,599

3,730

Prepaid expenses and other assets

205

9,219

111

3,781

-848

0

4,193

2,069

1,234

3,800

9,480

122

-8,628

2,764

-6,218

95

-1,209

-165

471

1,793

-896

-1,076

941

-178

562

-632

1,086

1,651

850

-209

-958

859

425

Increase/(decrease) in:
Accounts payable

-283

931

743

-3,728

2,827

0

2,743

-6,479

728

10,187

1,316

-1,488

-172

3,403

-1,719

-469

-1,238

-1,013

-2,746

-901

835

6,881

-1,432

275

-1,096

818

779

563

-320

3,014

-1,789

2,340

-517

Accounts payable to related party

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-5,359

1,414

-214

319

1,184

-630

-1,915

1,323

1,322

-2,281

4,354

-1,348

653

Accrued expenses and other liabilities

-13,702

5,818

9,969

1,240

-9,984

0

16,832

4,968

-7,072

7,313

-4,880

5,673

-10,170

12,014

-20,100

5,583

-15,661

-6,920

6,107

3,839

-3,904

1,294

3,470

2,400

-2,015

7,324

3,815

21,314

-5,490

4,915

1,504

1,833

-4,044

Income taxes payable/receivable

7,863

8,658

-3,840

-11,932

6,441

0

9,355

-17,773

7,497

2,937

116

-20,318

13,493

-9

12,439

-20,313

14,517

-382

-462

-14,720

14,907

-4,791

4,655

-8,152

7,875

10,791

7,425

-20,091

10,853

378

-1,807

-11,023

10,904

Net cash provided by operating activities

42,293

54,309

55,866

22,597

39,203

0

96,079

33,269

52,295

44,837

34,795

25,977

53,449

26,342

42,654

23,270

55,557

46,130

30,046

13,161

34,670

1,945

35,645

12,350

29,232

32,658

33,557

8,980

18,276

24,738

16,901

12,029

22,851

Cash flows from investing activities:
Purchases of marketable securities

57,418

69,080

66,840

82,695

127,911

0

228,719

190,820

118,403

165,196

89,413

67,981

70,305

126,825

50,737

68,678

104,208

92,800

63,716

70,817

72,874

90,273

56,134

29,672

75,343

54,144

42,686

50,875

93,187

0

0

0

0

Maturities of marketable securities

71,766

41,190

44,250

71,114

90,454

0

119,947

84,772

73,330

71,935

65,020

47,993

55,405

70,747

81,643

59,839

69,656

57,384

45,874

20,870

64,574

40,360

48,915

49,042

46,250

21,560

15,100

3,900

0

-

-

-

-

Sales of marketable securities

5,374

7,312

20,984

13,717

11,773

0

42,647

62,408

1,333

87,761

2,063

17,183

15,505

5,693

30,507

8,804

7,798

11,664

6,979

19,321

19,764

3,709

6,873

2,875

14,280

8,658

4,979

0

0

-

-

-

-

Purchases of property and equipment

22,314

15,793

12,062

14,740

28,155

0

32,530

14,793

12,374

13,425

12,817

13,528

11,533

14,208

6,559

10,776

9,366

14,154

11,480

17,898

7,228

9,095

3,428

6,067

6,164

5,205

5,519

6,184

6,772

7,652

5,183

5,536

6,313

Acquisition of businesses, net of cash acquired and purchases of intangible and other assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

497

1

48,015

36,128

0

0

0

-

-

-

-

-

-

-

-

Net cash used in investing activities

-2,592

-36,035

-13,668

-36,739

-53,839

0

-81,480

-55,433

-56,114

-17,368

-35,147

-47,834

-10,928

-69,593

-46,214

-10,811

-36,120

-37,906

-22,840

-48,525

-43,779

-91,427

-3,774

16,178

-20,977

-45,906

-28,126

-53,159

-99,959

-7,652

-11,214

-5,536

-6,313

Cash flows from financing activities:
Payment of business acquisition liabilities

566

501

463

283

5,350

0

789

510

5,440

4,875

0

233

5,001

5,004

0

100

300

300

300

300

300

300

300

400

200

300

300

300

400

300

200

300

300

Proceeds from exercise of stock options

5,763

11,686

7,082

2,013

10,255

0

6,178

23,824

9,307

4,792

1,032

3,921

1,990

1,446

853

1,680

1,895

1,164

1,298

1,590

1,425

2,094

1,013

2,776

3,855

1,334

1,967

3,369

885

458

566

392

88

Payments for Repurchase of Common Stock

73,864

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefit related to nonqualified stock options

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

656

633

684

364

203

1,055

2,786

237

2,332

1,884

303

17

2,587

33

24

Net cash provided by financing activities

-68,667

11,185

6,619

1,730

4,905

0

5,389

23,314

3,867

-83

1,032

3,688

-3,011

-3,558

853

1,580

1,595

-1,109

1,654

1,923

1,809

2,158

916

3,431

6,441

1,271

3,999

4,953

788

172

23,916

125

-188

Effect of foreign exchange rate on cash

-16

75

-417

226

-40

0

-185

-1,042

971

1,201

328

129

321

430

-2,443

28

91

36

82

-6

41

140

162

-61

-56

32

163

-3

38

-14

-24

-139

80

Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect

-28,982

29,534

48,400

-12,186

-9,771

0

19,803

108

1,019

28,587

1,008

-18,040

39,831

-46,379

-5,150

14,067

21,123

7,151

8,942

-33,447

-7,259

-87,184

32,949

31,898

14,640

-11,945

9,593

-39,229

-80,857

17,244

29,579

6,479

16,430

Supplemental disclosures of cash flow information:
Interest paid

1

22

53

2

2

-

-

-

0

-31

13

13

8

12

21

1

1

0

0

9

0

0

7

12

13

54

12

13

17

24

13

20

6

Income taxes paid

1,791

83

10,081

22,525

1,450

0

7,885

21,470

1,197

10,103

13,533

32,819

2,656

13,078

4,795

31,440

774

11,145

14,075

31,371

509

14,734

9,240

23,954

3,168

7,763

5,065

25,473

418

8,558

12,895

23,046

376