| Mar'20 | Mar'19 | Mar'18 | Apr'17 | Mar'16 | Mar'15 | Mar'14 | Mar'13 | Mar'12 | Mar'11 | Mar'10 | Mar'09 |
|---|---|---|---|---|---|---|---|---|---|---|---|
Cash Flows from Operating Activities: | |||||||||||
Net income | |||||||||||
76,526 | 55,019 | 45,572 | -26,268 | -55,579 | 16,897 | 35,148 | 38,800 | 66,886 | 79,980 | 58,370 | 59,304 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Depreciation and amortization | |||||||||||
110,289 | 109,418 | 89,247 | 89,733 | 89,911 | 86,053 | 81,740 | 65,481 | 49,966 | 48,145 | 43,236 | 36,462 |
Impairment of assets | |||||||||||
50,599 | 21,170 | 2,673 | 75,348 | 101,243 | 5,877 | 2,587 | 4,247 | 0 | 0 | 15,686 | - |
Share-based compensation expense | |||||||||||
20,454 | 17,188 | 13,025 | 9,150 | 6,949 | 14,095 | 13,082 | 10,969 | 9,286 | 10,810 | 10,267 | 10,181 |
Gain on divestiture | |||||||||||
8,083 | 0 | 8,000 | - | - | - | - | - | - | - | - | - |
Deferred tax (benefit) provision | |||||||||||
-6,958 | 13,351 | -5,828 | -6,800 | -1,038 | 4,230 | 1,736 | 589 | 5,878 | 5,782 | 2,592 | 1,645 |
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal | |||||||||||
- | - | - | 0 | 0 | - | - | - | - | - | - | - |
Provision for losses on accounts receivable and inventory | |||||||||||
373 | 2,111 | 208 | 11,381 | 13,053 | 4,972 | 3,020 | - | - | - | - | - |
Amortization of financing costs | |||||||||||
- | - | - | - | - | - | - | 1,139 | 0 | 0 | - | - |
Purchased in process research and development | |||||||||||
- | - | - | - | - | - | - | 0 | 0 | - | - | - |
Loss on sale of property, plant and equipment | |||||||||||
- | - | - | - | - | - | - | -351 | -772 | -674 | 435 | 124 |
Unrealized (gain) loss from hedging activities | |||||||||||
-813 | 24 | 649 | -517 | 2,645 | -1,558 | 128 | -700 | -166 | 614 | 1,368 | -3,812 |
Changes in fair value of contingent consideration | |||||||||||
- | - | - | - | -4,727 | -2,918 | 45 | 0 | 2,154 | 1,894 | 2,345 | - |
Other non-cash operating activities | |||||||||||
-1,234 | 3,798 | 4,123 | 860 | 899 | 1,055 | 5,367 | - | - | - | - | - |
Contingent consideration expense | |||||||||||
- | - | - | - | - | - | - | - | - | 416 | -588 | - |
Change in operating assets and liabilities: | |||||||||||
Change in accounts receivable | |||||||||||
-18,863 | 38,064 | -5,087 | -3,155 | 10,328 | -8,446 | -6,063 | 38,080 | 10,539 | 3,920 | -4,364 | -2 |
Change in inventories | |||||||||||
84,721 | 39,322 | -14,385 | 1,552 | -11,896 | 21,515 | 15,613 | 18,685 | 32,528 | 2,560 | 1,665 | 11,236 |
Change in prepaid income taxes | |||||||||||
-1,480 | 3,594 | -1,436 | -1,395 | 651 | -10,662 | -1,175 | 4,025 | -3,058 | -1,680 | -7,254 | 2,913 |
Change in other assets and other liabilities | |||||||||||
2,876 | -494 | -17,670 | 18,253 | -3,121 | 8,013 | -3,176 | 6,187 | -3,156 | 470 | 13,809 | 4,241 |
Tax benefit of exercise of stock options | |||||||||||
- | - | - | - | - | 3,786 | 1,649 | 4,194 | 1,958 | 4,941 | 2,670 | 3,368 |
Change in accounts payable and accrued expenses | |||||||||||
-17,308 | 17,736 | 41,401 | 21,072 | -30,239 | 1,993 | 477 | 25,581 | 19,413 | -18,683 | 5,263 | 20,104 |
Net cash provided by operating activities | |||||||||||
158,217 | 159,281 | 220,350 | 159,738 | 121,865 | 127,178 | 139,524 | 85,074 | 115,318 | 123,455 | 130,668 | 116,364 |
Cash Flows from Investing Activities: | |||||||||||
Capital expenditures | |||||||||||
48,758 | 118,961 | 74,799 | 76,135 | 102,405 | 122,220 | 73,648 | 62,188 | 53,198 | 46,669 | 56,304 | 56,379 |
Proceeds from divestiture | |||||||||||
9,808 | 0 | 9,000 | 0 | 0 | - | - | - | - | - | - | - |
Proceeds from sale of property, plant and equipment | |||||||||||
16,774 | 2,813 | 2,758 | 2,822 | 637 | 452 | 488 | 1,968 | 1,002 | 1,468 | 1,785 | 2,383 |
Acquisition of Whole Blood Business | |||||||||||
- | - | - | - | - | - | - | 535,175 | 0 | 0 | 0 | 3,545 |
Acquisition | |||||||||||
35,000 | 0 | 0 | - | - | - | 23,124 | 1,000 | 0 | 128 | 58,052 | - |
Acquisition of ACCS | |||||||||||
- | - | - | - | - | - | - | - | - | 6,229 | 12,845 | - |
Other acquisitions and investments | |||||||||||
- | - | - | - | 3,000 | 0 | 9,546 | 0 | 0 | 0 | - | - |
Acquisition of Neoteric | |||||||||||
- | - | - | - | - | - | - | - | - | - | 6,613 | - |
Acquisition of Medicell | |||||||||||
- | - | - | - | - | - | - | - | - | - | 306 | 2,459 |
Net cash used in investing activities | |||||||||||
-57,176 | -116,148 | -63,041 | -73,313 | -104,768 | -121,768 | -105,830 | -596,395 | -52,196 | -51,558 | -132,335 | -60,000 |
Cash Flows from Financing Activities: | |||||||||||
Term loan borrowings | |||||||||||
0 | 347,780 | 0 | 0 | - | - | - | 475,000 | 0 | 0 | - | - |
Repayment of term loan borrowings | |||||||||||
13,125 | 266,853 | 61,654 | 42,683 | 21,342 | 8,531 | 37,063 | 0 | 0 | 632 | 754 | - |
Payments on long-term real estate mortgage | |||||||||||
- | - | - | - | - | 1,048 | 964 | 886 | 815 | - | - | -694 |
Net increase in short-term loans | |||||||||||
45,000 | 15,000 | 671 | -50,727 | 2,272 | 843 | -5,521 | 7,446 | -288 | -15,153 | 6,184 | -5,580 |
Debt issuance costs | |||||||||||
- | - | - | - | - | - | - | 5,467 | 0 | 0 | - | - |
Proceeds from employee stock purchase plan | |||||||||||
3,369 | 3,254 | 3,246 | 3,560 | 4,341 | 4,763 | 5,229 | 4,142 | 3,723 | 3,681 | 2,909 | 2,659 |
Proceeds from exercise of stock options | |||||||||||
8,647 | 10,191 | 37,094 | 29,437 | 14,032 | 9,290 | 15,225 | 27,517 | 15,475 | 40,896 | 17,270 | 25,406 |
Excess tax benefit on exercise of stock options | |||||||||||
- | - | - | - | - | - | - | 4,101 | 1,433 | 3,124 | 421 | 7,470 |
Share repurchases | |||||||||||
175,000 | 160,000 | 100,000 | 0 | 60,984 | 39,033 | 0 | 50,000 | 49,998 | 50,000 | 40,000 | 59,998 |
Other financing activities | |||||||||||
-99 | 0 | 0 | - | -943 | 556 | 2,395 | - | - | - | - | - |
Net cash used in financing activities | |||||||||||
-131,208 | -50,628 | -120,643 | -60,413 | -62,624 | -33,160 | -20,699 | 461,853 | -30,470 | -18,084 | -13,970 | -30,737 |
Effect of exchange rates on cash and cash equivalents | |||||||||||
-1,873 | -3,323 | 3,939 | -1,571 | -12 | -4,057 | 354 | -273 | -498 | 1,332 | 478 | -2,459 |
Net Change in Cash and Cash Equivalents | |||||||||||
-32,040 | -10,818 | 40,605 | 24,441 | -45,539 | -31,807 | 13,349 | -49,741 | 32,154 | 55,145 | -15,159 | 23,168 |
Supplemental Disclosures of Cash Flow Information: | |||||||||||
Interest paid | |||||||||||
12,545 | 13,116 | 7,663 | 7,850 | 8,511 | 8,497 | 8,942 | 5,910 | 414 | 487 | 563 | 545 |
Income taxes paid | |||||||||||
11,507 | 8,205 | 9,083 | 6,957 | 7,829 | 11,211 | 7,261 | 13,178 | 10,764 | 16,669 | 21,519 | 19,391 |
Non-cash Investing and Financing Activities: | |||||||||||
Transfers from inventory to fixed assets for placement of Haemonetics equipment | |||||||||||
14,479 | 16,345 | 8,963 | 6,255 | 9,663 | 7,458 | 10,584 | 21,677 | 18,333 | 5,069 | 7,833 | 6,818 |
Tenant improvement allowances excluded from capital expenditures | |||||||||||
5,660 | 0 | 0 | - | - | - | - | - | - | - | - | - |