Idexx laboratories inc /de (IDXX)
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 Flows from Operating Activities:
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest

111,856

90,544

108,838

125,701

102,709

85,677

93,214

108,680

89,476

38,290

70,514

85,407

69,058

52,371

56,452

67,206

46,025

44,390

44,229

56,938

46,578

25,951

52,163

57,244

46,593

43,237

45,692

53,998

44,867

43,360

42,873

51,320

40,734

37,998

38,496

48,654

36,606

36,380

34,715

37,197

33,028

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

23,204

22,589

22,446

21,621

21,355

20,604

20,878

20,892

20,804

21,520

20,727

20,586

20,307

20,241

19,767

19,664

18,546

17,729

18,283

16,790

16,154

15,278

15,521

14,695

13,394

13,466

13,773

13,844

13,513

13,918

12,799

12,986

12,705

12,814

12,045

11,879

11,464

11,839

11,485

11,386

11,246

Provision for credit losses

4,229

-

-

-

365

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on disposal of property and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

18

-

-

-44

-27

-

-49

-62

-83

-134

-155

-16

-310

-99

-58

-350

-1,092

Impairment charge

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

1,118

1,110

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Increase (decrease) in deferred compensation liability

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-86

-

-

-25

114

-

88

-88

176

149

-391

-17

88

155

206

-172

101

Provision for uncollectible accounts

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

357

890

337

451

375

446

136

644

271

642

-217

412

487

314

82

601

69

910

211

385

Benefit of deferred income taxes

2,853

3,759

-1,023

132

3,294

-11,641

4,212

5,633

3,005

-7,480

-3,129

750

1,941

14,638

4,727

-1,004

2,520

9,792

-2,594

-2,620

565

7,559

-1,504

-4,390

-835

3,057

272

-2,425

1,169

-109

-528

-1,795

462

5,398

-1,794

-109

2,501

-2,287

1,491

-881

769

Share-based compensation expense

7,284

16,655

9,391

6,898

6,334

6,209

6,596

6,392

5,960

5,755

6,020

6,087

5,655

4,870

5,094

5,005

4,922

5,124

5,118

4,990

4,652

4,636

4,643

4,712

4,108

4,274

4,157

4,159

3,949

4,268

4,012

3,863

3,809

3,999

3,996

3,536

3,965

3,475

3,185

3,258

3,344

Other

-13

-243

750

484

263

-1,490

772

522

1,091

-905

881

171

860

-901

347

954

586

-167

-722

-208

625

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Tax benefit from share-based compensation arrangements

-

-

-

-

-

-

-

-

-

-

-

-

-

4,477

5,434

2,728

2,063

1,271

1,298

1,033

7,713

6,497

1,621

1,213

6,747

6,720

1,608

520

5,310

4,494

4,236

1,428

4,518

1,998

3,155

3,836

7,018

4,833

3,921

6,054

3,318

Changes in assets and liabilities:
Accounts receivable

38,062

-1,979

-13,248

4,278

33,421

-14,640

169

11,072

21,800

6,194

-13,676

12,971

19,429

5,907

-7,000

2,143

21,504

-882

-6,102

5,688

51,438

-4,838

-1,322

-11,921

21,707

3,151

-11,366

439

23,722

-3,232

-8,447

-9,626

17,818

8,628

-8,032

9,780

14,433

-2

-9,628

-849

17,393

Inventories

14,434

724

13,671

8,390

14,521

-1,792

10,590

8,755

8,070

-3,904

4,116

13,481

5,369

-10,151

2,717

1,550

-1,764

7,731

11,215

5,881

10,142

25,672

7,063

7,775

-2,200

-8,869

5,277

-5,778

10,717

-870

5,182

4,209

8,687

-2,153

4,040

6,589

-897

-2,991

9,483

798

12,179

Other assets and liabilities

64,881

-19,982

8,948

-3,779

49,601

-18,483

2,433

3,479

52,302

-58,152

-10,692

-17,105

38,531

-111

-16,374

-19,758

23,752

-6,987

-11,335

-15,949

10,746

-14,694

425

4,262

-1,312

-7,470

-310

1,894

-6,301

-3,394

-3,375

-329

3,165

4,395

4,237

-747

-6,546

7,372

4,202

3,075

-1,441

Accounts payable

-1,755

776

5,211

-4,729

699

1,170

-1,339

1,942

-1,939

4,931

-4,962

5,109

-3,687

4,613

-2,595

1,900

-1,801

373

151

1,340

-4,332

-173

6,539

-1,520

1,857

-8,357

-2,508

899

5,567

1,995

1,866

-10,749

3,990

4,710

1,303

6,454

548

-2,625

1,799

-773

5,081

Deferred revenue

-2,410

-1,534

-3,977

-3,751

-3,098

-1,405

-3,062

-1,925

-1,327

1,272

381

1,429

469

3,874

710

2,451

637

2,369

-1,982

-1,859

1,153

2,629

3,427

4,912

3,227

2,392

1,686

1,495

869

1,737

1,415

2,037

1,699

4,323

2,649

724

-355

-200

12

2,034

524

Accrued liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

19,560

6,887

-10,231

-

9,502

6,379

-16,216

3,938

9,068

1,879

-14,698

251

21,835

11,331

-16,502

14,157

9,015

12,348

-4,916

Net cash provided by operating activities

27,871

155,413

132,265

137,102

34,378

135,648

110,708

118,830

34,898

121,126

110,684

110,192

31,274

100,755

100,315

110,883

26,990

79,334

76,946

80,166

-14,644

27,303

93,263

81,762

33,518

65,415

78,097

81,429

21,055

68,920

74,688

63,616

15,184

54,395

75,208

63,092

25,218

48,850

54,898

55,880

19,205

Cash Flows from Investing Activities:
Purchases of property and equipment

49,002

45,911

37,071

33,781

38,206

33,109

31,265

27,651

23,726

20,014

15,804

14,919

23,647

14,831

12,088

15,962

21,906

15,404

20,644

23,856

23,017

18,019

17,094

14,112

11,298

16,153

15,278

26,049

20,132

14,388

18,929

14,855

9,446

9,750

13,754

16,598

9,575

10,262

11,209

8,964

8,473

Purchases of marketable securities

-

-

-

-

-

0

0

0

87

64,366

94,276

85,030

90,492

49,065

55,020

51,730

72,079

40,571

41,017

49,922

140,448

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from the sale and maturities of marketable securities

-

-

-

-

-

0

0

0

284,125

61,943

68,913

68,427

87,476

51,582

44,162

37,929

70,186

32,064

14,672

6,811

3,228

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from disposition of pharmaceutical product lines

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

3,500

0

0

0

3,000

0

0

0

3,000

-

-

-

0

Proceeds from sale of property and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

43

2

2

5

136

82

26

22

37

27

Acquisitions of intangible assets

668

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

175

0

365

0

659

0

0

0

900

-

-

-

-

150

100

0

144

Acquisitions of businesses

-

-

-

-

-

-

-

-

-

50

0

12,180

2,349

-

-

-

-

2,102

7,817

0

383

17,599

6,355

0

1,161

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used by investing activities

-49,670

-95,911

-37,326

-34,085

-38,206

-39,844

-54,215

-27,651

260,312

-24,487

-41,487

-43,702

-29,012

-14,278

-22,946

-29,763

-23,799

-26,013

-54,806

-66,967

-160,620

-35,618

-23,449

-8,712

-12,634

-16,975

-25,744

-26,049

-17,291

-17,046

-18,929

-14,812

-7,344

-54,905

-16,349

-16,462

-6,493

-14,386

-11,287

-8,927

-8,590

Cash Flows from Financing Activities:
Borrowing (repayments) on revolving credit facilities, net

198,110

59,257

-22,013

-95,495

-52,024

-15,540

-22,500

29,500

-247,500

-31,250

-17,750

33,000

60,000

123,000

-70,000

-64,000

49,000

30,500

44,500

-51,500

500

174,000

-9,000

69,000

38,000

-120,200

29,700

107,500

48,000

-20,000

-12,000

-10,000

11,000

89,000

21,417

5,973

-2,487

3,008

-7,964

-23,424

38,523

Issuance of senior notes

0

0

0

0

100,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Debt issuance costs

0

0

12

112

30

0

0

0

0

-

-

-

-

-1

0

0

57

1,181

72

37

90

49

2,513

-1,017

-139

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of acquisition-related contingent consideration

0

120

560

1,122

573

0

266

1,000

0

-

-

-

-

1,095

916

633

2,084

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of notes payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

1,141

253

249

378

242

238

235

230

228

224

220

218

215

210

208

205

200

200

Issuance of long term debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

100,097

150,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repurchases of common stock, net

182,815

140,689

85,975

20,692

54,302

105,607

73,828

106,397

83,487

53,872

57,895

106,888

63,910

212,524

15,026

23,056

53,480

92,924

88,960

86,450

133,647

149,190

272,342

126,347

70,279

84,851

76,575

142,557

63,778

41,116

36,146

27,376

27,630

89,489

67,597

58,479

39,940

25,933

33,433

25,996

57,728

Proceeds from exercises of stock options and employee stock purchase plans

10,210

7,367

9,086

8,102

11,551

3,606

12,690

7,354

14,551

7,308

8,144

10,644

12,526

9,529

11,261

11,794

5,760

3,176

3,571

3,325

12,325

11,081

3,654

3,743

10,964

16,501

5,314

3,462

12,958

7,010

6,909

4,475

5,772

2,721

6,713

7,198

12,169

6,810

5,609

9,963

6,483

Shares withheld for statutory tax withholding on restricted stock

8,604

204

277

169

7,403

265

390

165

8,555

244

370

156

7,303

640

0

-32

3,764

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Tax benefit from share-based compensation arrangements

-

-

-

-

-

-

-

-

-

-

-

-

-

4,477

5,434

2,728

2,063

1,271

1,298

1,033

7,713

6,497

1,621

1,213

6,747

6,720

1,608

520

5,310

4,494

4,236

1,428

4,518

1,998

3,155

3,836

7,018

4,833

3,921

6,054

3,318

Net cash provided (used) by financing activities

16,901

-74,389

-99,751

-109,488

-2,781

-117,806

-84,294

-70,708

-324,991

-78,058

-67,871

-63,400

1,313

-77,252

-69,247

-73,135

-2,562

-64,596

-39,663

-33,532

36,801

42,339

-76,268

-54,549

-14,960

-33,055

-40,331

-31,317

2,252

-49,847

-37,231

-31,701

-6,564

4,010

-36,530

-41,687

-23,450

-11,490

-32,072

-33,603

-9,604

Net effect of changes in exchange rates on cash

-4,033

1,217

-2,037

700

-569

-1,081

119

-5,141

1,335

75

1,718

2,477

1,932

-4,396

811

201

3,330

-881

-4,479

1,325

-1,913

-4,223

-5,859

344

1,221

-1,138

1,776

-1,414

-1,638

518

1,100

-781

320

-1,104

-228

996

1,269

429

3,998

-1,729

-1,385

Net decrease in cash and cash equivalents

-8,931

-13,670

-6,849

-5,771

-7,178

-23,083

-27,682

15,330

-28,446

18,656

3,044

5,567

5,507

4,829

8,933

8,186

3,959

-12,156

-22,002

-19,008

-140,376

29,801

-12,313

18,845

7,145

14,247

13,798

22,649

4,378

2,545

19,628

16,322

1,596

2,396

22,101

5,939

-3,456

23,403

15,537

11,621

-374

Supplemental Cash Flow Information:
Cash paid for income taxes

12,020

-

-

-

8,717

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Unpaid property and equipment, reflected in accounts payable and accrued liabilities

14,123

-

7,563

2,626

9,007

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Supplemental Disclosure of Non-Cash Information:
Market value of common shares received from employees in connection with share-based compensation - see Note 17

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

200

4,100

-

-

-

-

-

-

-

-

-

-

-

-