HAEMONETICS CORPORATION HAE Cash Flow

Haemonetics corporation (HAE)

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	Apr'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	Sep'09	Jun'09
Cash Flows from Operating Activities:
Net income
17,624	29,895	37,486	-8,479	20,835	18,277	18,726	-2,819	11,880	-6,547	20,102	20,137	-51,140	15,393	19,825	-10,346	-8,735	-59,440	12,863	-267	-2,930	15,988	7,488	-3,649	10,184	16,290	16,548	-7,874	12,561	9,904	6,548	9,787	17,806	18,252	13,881	16,947	20,988	19,735	21,339	17,918	3,961	18,286	18,050	18,073
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
28,765	27,055	27,032	27,437	29,781	27,945	25,277	26,415	22,980	22,281	22,197	21,789	22,202	22,278	22,709	22,544	22,190	22,723	22,743	22,255	22,162	22,266	21,114	20,511	22,677	20,807	19,899	18,357	18,740	18,131	17,430	11,180	12,710	12,637	12,631	11,988	11,120	12,335	12,280	12,410	11,455	11,082	10,641	10,058
Impairment of assets
2	1,876	0	48,721	0	0	0	21,170	2,455	218	0	0	71,935	908	739	1,766	16,195	84,960	88	0	4,631	772	213	261	876	36	1,348	327	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Share-based compensation expense
5,399	5,325	5,000	4,730	4,445	4,782	4,582	3,379	5,665	3,161	2,856	1,343	2,542	2,373	2,395	1,840	750	2,316	719	3,164	3,876	3,281	3,449	3,489	3,418	3,248	3,403	3,013	3,038	2,917	2,597	2,417	2,559	2,026	2,300	2,401	2,665	4,056	1,892	2,197	2,692	2,583	2,213	2,779
Deferred tax (benefit) provision
-2,211	2,543	-1,981	-5,309	1,021	12,330	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal
-	-	-	-	-	-	-	-	-	0	0	8,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Provision for losses on accounts receivable and inventory
2,619	-389	-479	-1,378	-1,109	2,671	901	-352	-306	-174	-240	928	-17	4,496	4,331	2,571	8,998	975	1,338	1,742	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of financing costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	225	225	347	-	355	388	427	687	452	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Loss on sale of property, plant and equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-248	50	-414	-	-236	-111	-154	121	-254	-108	-110	-492	-2	-222	-56	-555	197	-331	15	731	-443	48	99
Unrealized (gain) loss from hedging activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-222	2,157	524	186	-81	-923	-450	-104	479	1,915	510	-2,776	-83	-451	402	-568	1,199	-285	-471	-609	2,176	-429	-256	-877	-210	3,723	-626	-1,519
Changes in fair value of contingent consideration
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-3,624	247	235	224	-1,137	872	189	121	-	-	-	-	574	0	1,669	-89	0	0	2,059	-165	-	-	-	-
Other non-cash operating activities
-3,179	1,805	90	50	2,760	-239	1,258	19	3,725	86	-346	658	-356	2,457	-591	-650	37	117	474	271	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
(Reversal)/accretion of interest expense on contingent consideration
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	223	208	200
Contingent consideration expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Change in operating assets and liabilities:
Change in accounts receivable
-5,056	-6,001	14,712	-22,518	18,312	6,426	11,749	1,577	3,117	2,535	-8,536	-2,203	723	2,929	1,432	-8,239	6,142	3,899	6,811	-6,524	5,976	-4,277	-2,227	-7,918	14,369	-11,743	5,411	-14,100	5,915	9,479	30,706	-8,020	9,078	129	9,271	-7,939	3,680	-597	1,492	-655	-181	-5,969	564	1,222
Change in inventories
16,470	8,812	22,025	37,414	27,698	7,712	-11,146	15,058	3,075	-10,176	-5,867	-1,417	-12,408	1,299	8,940	3,721	-9,105	-2,831	-2,370	2,410	3,609	4,721	3,616	9,569	-9,014	5,289	6,493	12,845	5,953	9,284	-13,592	17,040	9,481	7,657	5,102	10,288	2,433	-3,773	-267	4,167	1,962	-2,368	1,446	625
Change in prepaid income taxes
-	-	-	3,228	-	-	-	-72	-631	-29	41	-817	-527	-1,192	-608	932	1,648	-1,179	-187	369	-10,881	-1,809	1,715	313	-3,299	665	-3,268	4,727	2,352	-524	1,742	455	11,891	-2,666	-4,290	-7,993	8,889	-3,720	-232	-6,617	-1,802	-11,359	-830	6,737
Change in other assets and other liabilities
-6,226	-3,102	3,996	8,208	-725	3,977	-4,960	1,214	77	-13,827	5,078	-8,998	17,257	3,832	-1,710	-1,126	3,501	-6,959	4,036	-3,699	-10,821	10,674	7,571	589	2,043	-152	1,043	-6,110	1,698	152	-1,142	5,479	-4,030	-393	-1,792	3,059	4,486	-7,743	-864	4,591	13,937	1,076	2,429	-3,633
Tax benefit of exercise of stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,825	107	569	285	-1,257	1,568	498	840	289	1,417	1,438	1,050	548	458	596	356	97	3,898	408	538	1,463	1,030	4	173
Change in accounts payable and accrued expenses
282	10,881	8,341	-36,812	11,808	10,513	2,328	-6,913	23,343	24,873	5,050	-11,865	739	14,164	-2,089	8,258	9,732	-12,898	-1,900	-25,173	7,319	-7,855	8,224	-5,695	16,405	-2,147	-6,404	-7,377	3,347	8,830	23,009	-9,605	21,601	-129	5,841	-7,900	12,596	-9,136	-3,065	-19,078	15,663	-2,918	1,626	-9,108
Net cash provided by operating activities
46,406	79,282	29,901	2,628	20,638	58,164	57,357	23,122	57,627	65,395	58,903	38,425	34,577	55,201	39,265	30,695	53,253	31,851	27,511	9,250	55,305	26,893	31,242	13,738	51,471	45,291	29,360	13,402	27,542	23,965	33,014	553	33,975	28,804	25,408	27,131	32,139	47,030	30,760	13,526	36,687	32,502	35,773	25,706
Cash Flows from Investing Activities:
Capital expenditures
10,646	20,390	9,473	8,249	13,716	29,243	48,488	27,514	19,103	26,571	15,404	13,721	15,618	18,893	19,145	22,479	28,534	23,741	25,884	24,246	21,690	29,658	33,787	37,085	29,927	15,519	15,110	13,092	12,503	15,253	25,991	8,441	16,239	13,116	12,042	11,801	11,683	10,898	8,864	15,224	11,428	11,996	11,676	21,204
Proceeds from divestiture
0	0	0	9,808	0	0	0	0	0	0	0	9,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale of property, plant and equipment
511	524	15,437	302	499	1,658	406	250	1,131	281	365	981	1,049	1,576	110	87	240	104	177	116	65	10	313	64	291	-445	73	569	678	935	103	252	485	387	111	19	1,134	72	151	111	1,175	227	182	201
Acquisition of Whole Blood Business
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	23,124	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	1,000	-	-	-	-	-	-	-	-	-	-	-	-
Other acquisitions and investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	3,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition of Neoteric
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	6,613
Acquisition of Medicell
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1	-1	307
Net cash used in investing activities
-45,135	-19,866	5,964	1,861	-13,217	-27,585	-48,082	-27,264	-17,972	-26,290	-15,039	-3,740	-14,569	-17,317	-19,035	-22,392	-28,294	-23,637	-25,707	-27,130	-21,625	-29,648	-33,474	-37,021	-30,808	-15,631	-23,744	-35,647	-11,856	-14,318	-561,032	-9,189	-15,754	-12,729	-11,931	-11,782	-10,549	-17,183	-8,713	-15,113	-68,304	-11,770	-24,338	-27,923
Cash Flows from Financing Activities:
Term loan borrowings
0	0	0	0	0	0	0	347,780	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of term loan borrowings
4,375	4,375	0	4,375	8,750	0	4,375	253,728	16,600	16,599	16,599	11,856	11,856	11,857	11,856	7,114	14,228	7,114	0	0	7,753	265	259	254	36,348	243	239	233	-658	224	217	217	-882	248	273	361	243	223	-39	205	-	-	-	-
Payments on long-term real estate mortgage
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	287	282	276	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-196	-186	-183
Net increase in short-term loans
15,000	5,000	-65,000	90,000	15,000	0	0	0	92	162	162	255	-9,752	-39,859	145	-1,261	-4,871	219	2,544	4,380	1,200	-1,143	-901	1,687	-1,095	-8,666	3,978	262	2,889	1,340	3,235	-18	-1,817	-463	2,001	-9	-6,364	-3,540	4,687	-9,936	-7,411	17	-2,927	16,505
Repayment of term loan borrowings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	8,531	-	8,531	20,000	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from employee stock purchase plan
1	1,538	0	1,830	0	1,474	0	1,780	0	1,624	0	1,622	0	1,581	-1	1,980	1	2,077	0	2,263	0	2,233	0	2,530	0	2,563	0	2,666	0	2,037	0	2,105	1	1,875	-2	1,849	-2	2,038	0	1,645	0	1,425	27	1,457
Proceeds from exercise of stock options
935	1,666	2,411	3,635	745	2,319	4,296	2,831	3,855	23,119	3,690	6,430	11,159	4,746	12,123	1,409	3,543	2,115	5,481	2,893	1,364	3,884	1,819	2,223	3,526	3,582	2,268	5,849	-825	4,693	10,403	13,246	6,399	4,369	2,032	2,675	8,733	26,322	2,831	3,010	12,192	1,690	2,479	909
Excess tax benefit on exercise of stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	495	621	960	943	1,079	968	1,111	594	506	20	313	1,962	534	79	549	241	23	1	156
Share repurchases
-	-	50,000	75,000	-	-	0	80,000	100,000	0	0	0	-	-	-	-	0	0	21,952	39,032	332	4,931	7,304	26,466	0	0	0	0	-	-	-	-	-	-	-	-	0	0	0	50,000	0	33,669	6,331	0
Other financing activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-
Net cash used in financing activities
11,372	-46,153	-112,517	16,090	6,995	-76,207	-79	18,663	-112,653	8,306	-12,747	-3,549	-10,449	-45,389	411	-4,986	-15,653	-2,990	-14,209	-29,772	2,518	-222	-6,645	-28,811	-6,031	-10,800	-13,372	9,504	-29,185	-3,774	478,585	16,227	5,244	6,039	-46,220	4,467	4,086	25,131	7,636	-54,937	4,833	-30,710	-6,937	18,844
Effect of exchange rates on cash and cash equivalents
-1,749	1,124	-1,552	304	64	736	-1,539	-2,584	1,576	558	766	1,039	366	-1,726	-19	-192	650	-304	448	-806	-736	-1,794	-1,095	-432	-9	-162	576	-51	-562	257	437	-405	24	-163	-727	368	1,493	-489	1,899	-1,571	-647	649	2	474
Net Change in Cash and Cash Equivalents
10,894	14,387	-78,204	20,883	14,480	-44,892	7,657	11,937	-71,422	47,969	31,883	32,175	9,925	-9,231	20,622	3,125	9,956	4,920	-11,957	-48,458	35,462	-4,771	-9,972	-52,526	14,623	18,698	-7,180	-12,792	-14,061	6,130	-48,996	7,186	23,489	21,951	-33,470	20,184	27,169	54,489	31,582	-58,095	-27,431	-9,329	4,500	17,101
Supplemental Disclosures of Cash Flow Information:
Interest paid
1,806	4,479	2,725	3,535	3,624	3,659	3,472	2,361	1,979	1,916	1,943	1,825	1,792	1,940	2,046	2,072	2,305	2,044	2,094	2,068	2,226	2,091	2,169	2,011	1,969	2,251	2,321	2,401	1,890	2,332	1,604	84	92	102	118	102	114	122	123	128	138	142	153	130
Income taxes paid
1,619	1,353	5,457	3,078	1,972	1,180	3,236	1,817	1,763	1,871	3,298	2,151	1,233	1,857	2,326	1,541	1,945	1,228	3,031	1,625	484	2,376	6,254	2,097	3,168	427	2,760	906	4,278	1,562	4,144	3,194	4,666	3,810	901	1,387	6,674	3,054	5,291	1,650	5,998	9,161	3,380	2,980
Non-cash Investing and Financing Activities:
Transfers from inventory to fixed assets for placement of Haemonetics equipment
3,774	4,925	2,807	2,973	4,245	1	10,300	1,799	3,539	1,459	2,627	1,338	1,174	1,604	1,713	1,764	404	3,709	2,625	2,925	1,703	1,729	1,583	2,443	2,617	1,933	2,677	3,357	2,071	8,439	3,931	7,236	7,421	4,620	3,142	3,150	1,161	198	2,619	1,091	3,715	1,309	785	2,024