Ii-vi incorporated (IIVI)
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'10Dec'09Sep'09
Cash Flows from Operating Activities
Net earnings (loss)

5,921

-98,213

-25,998

28,028

24,638

28,702

26,149

27,167

30,098

9,596

21,141

32,647

22,430

23,903

16,294

14,343

14,938

18,991

17,214

17,069

14,508

22,096

12,302

12,655

8,531

7,569

9,694

10,238

16,094

12,467

13,132

14,771

14,270

13,520

18,714

22,166

23,196

19,255

18,401

16,214

10,238

5,984

6,299

Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:
Earnings from discontinued operation, net of tax

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

131

2

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation

32,369

48,590

20,796

20,129

18,937

18,207

18,472

19,045

16,346

15,592

15,219

15,704

11,750

11,732

11,708

11,711

11,447

10,821

10,345

10,855

9,617

10,131

10,511

10,614

10,535

11,028

9,628

8,804

8,538

8,780

8,013

7,846

7,442

7,497

7,287

7,112

6,086

6,246

6,225

5,979

5,745

3,724

3,679

Amortization

5,655

33,562

6,152

4,609

4,191

4,122

3,698

3,576

3,578

3,817

3,597

3,211

3,174

3,184

3,174

3,167

3,214

2,998

2,960

2,986

2,993

2,940

3,050

3,059

2,657

3,369

2,208

2,096

2,187

1,316

1,058

1,116

1,287

1,025

1,023

782

787

599

609

590

637

334

351

Share-based compensation expense

14,536

18,777

15,603

6,166

6,503

6,022

3,255

3,750

3,694

3,618

4,250

3,061

2,998

2,624

3,073

1,159

1,567

2,940

4,009

2,754

2,631

2,361

3,594

2,615

2,537

3,145

4,050

2,727

2,698

3,074

3,460

2,353

2,055

2,601

4,575

1,804

2,212

2,224

3,732

-15,001

2,108

1,670

2,433

Amortization of discount on convertible debt and debt issuance costs

6,281

6,069

3,570

2,909

3,386

3,145

3,110

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Losses on foreign currency remeasurements and transactions

-3,574

-3,444

-1,131

-2,335

906

-314

-1,412

-61

-398

-887

496

-2,358

-1,031

5,246

-582

637

-1,537

239

712

-286

-281

570

-2,181

-320

258

284

-922

-572

138

-594

-216

843

76

850

-255

-530

782

-1,091

1,244

-1,890

-272

-98

-691

Gain on sale of equity investment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

168

-

-

-

-

Earnings from equity investments

859

318

600

436

11

1,173

1,594

987

990

1,347

270

90

164

159

331

-624

224

165

264

241

191

249

267

181

139

121

257

226

229

228

365

304

271

158

326

229

176

344

-170

479

80

53

-237

Deferred income taxes

9,378

-25,642

-16,434

-4,567

-2,389

-1,908

-1,598

2,557

-11,726

13,109

-2,995

-1,432

-3,952

2,679

1,521

2,170

2,595

-3,428

-360

-1,677

-1,483

-2,600

1,979

-2,621

48

-1,360

-502

-344

-1

2,512

-205

-1,930

2,940

438

-871

-905

1,522

-1,298

-1,387

-1,145

-608

-1,982

2,784

Excess tax benefits from share-based compensation expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-16

82

30

-

-

-

-

-

-

-

-

-43

291

0

387

352

347

77

45

1,813

427

1,363

450

658

164

-7

161

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

14,487

-22,454

-8,783

19,828

22,326

-1,869

10,479

26,688

-5,994

3,066

-2,716

18,027

20,109

-3,606

-8,283

16,222

15,068

-4,061

-6,459

4,770

1,297

-26,011

30,686

10,767

12,980

9,614

-4,875

3,865

10,359

-13,286

-6,379

3,497

13,735

-4,882

-2,812

-609

3,973

2,658

1,175

16,769

10,041

-7,503

4,140

Inventories

-17,533

-92,892

14,827

-13,708

10,512

25,951

13,637

5,286

10,032

9,523

13,891

4,719

7,364

5,358

7,551

-300

1,117

2,344

5,489

-1,514

829

4,220

672

-8,908

-2,679

198

-1,405

-9,356

-1,296

11,954

-3,271

4,013

-3,346

2,525

11,976

14,503

9,273

6,699

9,928

2,688

-614

-6,788

2,057

Accounts payable

-6,517

-2,711

748

1,293

-8,071

17,642

5,135

5,231

7,374

2,289

2,542

-906

6,211

-6,939

8,338

6,052

4,830

-94

-5,073

3,686

2,037

-8,637

2,975

-2,130

3,179

17,205

1,559

-1,679

-2,803

1,266

-6,160

3,499

-2,042

2,397

-933

-3,701

7,623

-1,973

698

2,414

3,517

289

268

Contract liabilities

-

-

12,597

-

-

-

130

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income taxes

-20,108

10,274

-1,344

1,338

-116

2,548

-3,404

-2,178

8,071

1,252

235

-2,223

2,573

219

166

16,044

-5,168

1,774

766

6,912

-779

1,297

159

1,528

-4,222

-5

-3,583

3,786

-1,123

2,118

-430

3,913

-1,886

-2,562

3,359

-2,366

-2,676

-796

3,116

2,469

3,909

1,487

-1,406

Accrued compensation and benefits

-2,688

5,079

-14,721

-

2,634

7,545

-17,981

-

3,645

6,750

-16,434

-

1,758

5,611

-19,756

-

7,377

6,277

-7,183

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other operating net assets

-

-

21,071

-

-

-

-6,337

-3,557

2,174

-4,312

3,231

4,072

656

-3,323

5,988

-9,398

7,008

1,389

463

-4,218

-7,110

-131

4,270

-2,986

-270

-376

5,883

-5,883

7,628

-735

4,797

-1,308

-2,827

-2,001

9,584

-4,332

-2,545

-7,328

7,199

-8,290

-5,969

8,452

-5,243

Continuing Operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

36,259

48,588

856

26,857

12,731

30,563

24,114

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Discontinued Operation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

924

273

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by operating activities

64,232

81,875

-25,615

64,083

26,186

69,201

19,005

47,069

54,276

47,286

12,383

40,244

19,680

39,179

19,513

41,734

18,936

40,121

22,179

-

-

-

-

26,857

12,731

31,487

24,387

39,488

7,142

37,792

23,185

30,367

14,789

28,623

14,290

13,818

26,664

21,952

11,060

18,894

22,276

15,595

15,655

Cash Flows from Investing Activities
Additions to property, plant & equipment

27,687

54,652

25,636

28,952

33,802

38,466

35,902

36,961

38,854

40,197

37,426

39,382

41,313

27,828

29,994

25,427

13,587

9,732

9,424

12,150

8,554

10,079

21,530

8,453

6,478

7,716

6,573

7,775

4,286

7,215

5,929

10,026

9,703

10,356

12,712

12,003

14,188

9,387

5,281

4,453

2,693

4,144

2,547

Payment of option to acquire business

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of businesses, net of cash acquired

0

0

1,036,609

-800

29,638

9,000

45,229

-

-

-

79,465

-

-

-

-

-

-

-

-

-

-

-

-

0

2,475

84,600

90,601

-

-

-

-

0

0

0

46,141

-

-

-

-

-

-

-

-

Purchases of equity investments

-

-

-

0

0

0

4,480

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Investment in unconsolidated business

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1,180

62

1,763

56

2,933

Other investing activities

1,940

-838

1,940

-575

-2

-80

-36

-618

-284

-9

-136

416

-1,521

-41

-145

-69

-53

-14

-25

-

-

-

-

-

-

-

-

-

13

-1,423

-42

-597

6

-1

-23

-192

72

-23

-217

-

-

-

-

Proceeds from sale of property, plant & equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

32

144

4

Payments on deferred purchase price of businesses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-144

0

-997

Net cash used in investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-39,792

-28,367

-29,849

-

-132,191

-9,718

-9,399

-12,147

-8,591

-9,978

-21,530

-

-

-87,316

-102,174

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Discontinued Operation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-29,627

-53,814

-1,064,185

-27,577

-63,438

-47,386

-85,575

-36,744

-38,272

-93,179

-116,755

-

-

-

-

-

-

-

-

-

-

-

-

-

-8,727

-87,316

-102,174

-4,756

-4,102

-129,786

-5,887

-7,900

-7,803

-10,355

-58,830

-11,979

-14,092

-20,177

-6,244

-12,709

-41,824

-4,056

-6,473

Cash Flows from Financing Activities
Proceeds from issuance of 0.25% convertible senior notes due 2022

-

-

-

-

-

-

-

0

0

0

345,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from borrowings of Revolving Credit Facility

0

0

160,000

-

-

-

-

0

0

60,000

40,000

65,000

20,000

20,000

24,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from borrowings under prior Credit Facility

0

0

10,000

-

30,000

0

120,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on borrowings under prior Credit Facility

4,000

-61,780

127,780

-

-

-

25,000

15,000

15,000

5,000

257,000

5,000

5,000

5,000

10,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on borrowings under prior Term Loan

-

-

45,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Debt issuance costs

0

0

63,510

-

-

-

-

0

0

0

10,061

0

0

0

1,384

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment on earnout arrangement

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

2,200

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from exercises of stock options

1,979

102

2,975

1,191

1,285

1,180

5,042

1,633

2,052

3,078

3,706

467

6,885

5,995

1,745

2,209

5,650

1,028

766

1,138

2,016

538

1,504

745

808

307

2,498

268

2,211

542

1,083

762

1,444

273

179

1,441

1,487

2,419

859

1,732

343

173

363

Proceeds from borrowings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

121,200

0

4,000

-

-

-

-

0

0

80,000

103,000

0

0

107,000

6,000

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds on long-term borrowings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

7,000

-

-

-

-

-

-

-

-

Payments on borrowings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,000

16,000

17,500

12,000

24,500

27,000

5,000

21,000

20,000

8,000

6,000

7,000

3,000

0

1,000

1,000

7,000

5,000

1,295

-

-

-

-

-

-

-

558

Payments on earnout arrangements

-

-

1,000

-

-

1,040

2,500

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Common stock repurchase

-

-

-

-

-

-

-

0

0

0

49,875

-

-

-

-

0

0

400

5,884

0

1,428

6,208

5,093

-

-

-

-

0

9,138

4,941

5,899

-

-

-

-

-

-

-

-

-

-

-

-

Payments in satisfaction of employees' minimum tax obligations

649

5,613

9,418

-8

750

1,780

4,570

2,524

432

0

3,608

729

1,136

41

2,230

21

2

301

1,680

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments of redeemable noncontrolling interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

8,789

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other financing activities

-171

-2,179

340

-

-

-

-

-

-

-

-

-

-

364

139

491

-24

90

30

1,018

284

354

-1,248

-139

-101

33

-1,307

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Minimum tax withholding requirements

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

137

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefits from share-based compensation expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

387

-

347

77

45

1,813

427

1,363

450

658

164

-7

161

Net cash provided by financing activities

-20,153

-94,557

1,326,607

-51,990

25,535

-61,640

92,972

-15,891

-13,380

58,078

68,162

57,738

20,246

21,318

12,270

-24,521

121,824

-15,583

-20,268

-10,933

-25,978

-29,316

-9,837

-30,210

-30,250

72,340

87,202

-6,776

-9,703

101,824

434

-4,874

-11,209

-4,650

5,929

18,149

-4,086

3,782

1,309

2,390

507

166

-34

Effect of exchange rate changes on cash and cash equivalents

-3,185

3,785

-2,128

-854

2,671

-1,262

-2,097

-10,640

6,164

986

5,607

5,558

1,252

-6,031

-283

-2,283

1,720

-1,515

-2,367

-1,652

-1,936

240

1,266

922

-746

965

359

1,883

-553

369

-65

-1,915

-344

-571

-63

995

717

525

-959

2,248

-215

-708

384

Net increase (decrease) in cash and cash equivalents

11,267

-62,711

234,679

-16,338

-9,046

-41,087

24,305

-16,206

8,788

13,171

-30,603

24,307

1,386

26,099

1,651

31,072

10,289

13,305

-9,855

18,931

-246

9,534

-29,245

-11,031

-26,992

17,476

9,774

29,839

-7,216

10,199

17,667

15,678

-4,567

13,047

-38,674

20,983

9,203

6,082

5,166

10,823

-19,256

10,997

9,532

Cash paid for interest

21,685

23,043

1,702

-

2,415

1,876

2,417

-

1,451

1,033

2,196

-

1,524

1,321

1,092

-

633

569

657

-

852

1,060

1,169

-

1,266

1,103

514

-

447

152

32

-

63

47

72

-

34

1

43

-

34

0

44

Cash paid for income taxes

9,057

16,869

8,218

-

5,813

9,107

5,420

-

3,681

6,740

6,167

-

6,462

4,669

5,721

-

4,881

3,962

4,535

-

2,786

1,799

4,440

-

3,422

4,031

5,092

-

3,661

1,819

4,560

-

2,962

4,596

3,006

-

4,972

7,179

4,249

-

1,356

1,880

708

Non cash transactions:
Purchases of business - earnout consideration recorded in Other liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of business - holdback amount recorded in Other accrued liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

2,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Additions to property, plant & equipment included in accounts payable

3,752

-726

13,228

6,434

-5,795

-982

11,329

8,925

-2,527

1,990

3,925

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of treasury stock recorded in Other accrued liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

400

-

-

-

1,200

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash transaction: Increase to investments in other accrued liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

2,933

Term A Loan
Proceeds from borrowings

0

561,000

680,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Term B Loan
Proceeds from borrowings

0

0

720,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-