II-VI INCORPORATED IIVI Cash Flow

Ii-vi incorporated (IIVI)

CashFlow / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'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
Cash Flows from Operating Activities
Net earnings (loss)
-90,262	-71,545	55,370	107,517	106,656	112,116	93,010	88,002	93,482	85,814	100,121	95,274	76,970	69,478	64,566	65,486	68,212	67,782	70,887	65,975	61,561	55,584	41,057	38,449	36,032	43,595	48,493	51,931	56,464	54,640	55,693	61,275	68,670	77,596	83,331	83,018	77,066	64,108	50,837	38,735	0	0	0
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:
Earnings from discontinued operation, net of tax
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	133	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation
121,884	108,452	78,069	75,745	74,661	72,070	69,455	66,202	62,861	58,265	54,405	50,894	46,901	46,598	45,687	44,324	43,468	41,638	40,948	41,114	40,873	41,791	42,688	41,805	39,995	37,998	35,750	34,135	33,177	32,081	30,798	30,072	29,338	27,982	26,731	25,669	24,536	24,195	21,673	19,127	0	0	0
Amortization
49,978	48,514	19,074	16,620	15,587	14,974	14,669	14,568	14,203	13,799	13,166	12,743	12,699	12,739	12,553	12,339	12,158	11,937	11,879	11,969	12,042	11,706	12,135	11,293	10,330	9,860	7,807	6,657	5,677	4,777	4,486	4,451	4,117	3,617	3,191	2,777	2,585	2,435	2,170	1,912	0	0	0
Share-based compensation expense
55,082	47,049	34,294	21,946	19,530	16,721	14,317	15,312	14,623	13,927	12,933	11,756	9,854	8,423	8,739	9,675	11,270	12,334	11,755	11,340	11,201	11,107	11,891	12,347	12,459	12,620	12,549	11,959	11,585	10,942	10,469	11,584	11,035	11,192	10,815	9,972	-6,833	-6,937	-7,491	-8,790	0	0	0
Amortization of discount on convertible debt and debt issuance costs
18,829	15,934	13,010	12,550	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Losses on foreign currency remeasurements and transactions
-10,484	-6,004	-2,874	-3,155	-881	-2,185	-2,758	-850	-3,147	-3,780	2,353	1,275	4,270	3,764	-1,243	51	-872	384	715	-2,178	-2,212	-1,673	-1,959	-700	-952	-1,072	-1,950	-1,244	171	109	1,553	1,514	141	847	-1,094	405	-955	-2,009	-1,016	-2,951	0	0	0
Gain on sale of equity investment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	168	0	0	0	-	-	-	-
Earnings from equity investments
2,213	1,365	2,220	3,214	3,765	4,744	4,918	3,594	2,697	1,871	683	744	30	90	96	29	894	861	945	948	888	836	708	698	743	833	940	1,048	1,126	1,168	1,098	1,059	984	889	1,075	579	829	733	442	375	0	0	0
Deferred income taxes
-37,265	-49,032	-25,298	-10,462	-3,338	-12,675	2,342	945	-3,044	4,730	-5,700	-1,184	2,418	8,965	2,858	977	-2,870	-6,948	-6,120	-3,781	-4,725	-3,194	-1,954	-4,435	-2,158	-2,207	1,665	1,962	376	3,317	1,243	577	1,602	184	-1,552	-2,068	-2,308	-4,438	-5,122	-951	0	0	0
Excess tax benefits from share-based compensation expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	635	1,030	1,086	1,163	821	2,282	2,362	3,648	4,053	2,898	2,635	1,265	976	0	0	0
Increase (decrease) in cash from changes in (net of effect of acquisitions):
Accounts receivable
3,078	10,917	31,502	50,764	57,624	29,304	34,239	21,044	12,383	38,486	31,814	26,247	24,442	19,401	18,946	20,770	9,318	-4,453	-26,403	10,742	16,739	28,422	64,047	28,486	21,584	18,963	-3,937	-5,441	-5,809	-2,433	5,971	9,538	5,432	-4,330	3,210	7,197	24,575	30,643	20,482	23,447	0	0	0
Inventories
-109,306	-81,261	37,582	36,392	55,386	54,906	38,478	38,732	38,165	35,497	31,332	24,992	19,973	13,726	10,712	8,650	7,436	7,148	9,024	4,207	-3,187	-6,695	-10,717	-12,794	-13,242	-11,859	-103	-1,969	11,400	9,350	-79	15,168	25,658	38,277	42,451	40,403	28,588	18,701	5,214	-2,657	0	0	0
Accounts payable
-7,187	-8,741	11,612	15,999	19,937	35,382	20,029	17,436	11,299	10,136	908	6,704	13,662	12,281	19,126	5,715	3,349	556	-7,987	61	-5,755	-4,613	21,229	19,813	20,264	14,282	-1,657	-9,376	-4,198	-3,437	-2,306	2,921	-4,279	5,386	1,016	2,647	8,762	4,656	6,918	6,488	0	0	0
Contract liabilities
-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income taxes
-9,840	10,152	2,426	366	-3,150	5,037	3,741	7,380	7,335	1,837	804	735	19,002	11,261	12,816	13,416	4,284	8,673	8,196	7,589	2,205	-1,238	-2,540	-6,282	-4,024	-925	1,198	4,351	4,478	3,715	-965	2,824	-3,455	-4,245	-2,479	-2,722	2,113	8,698	10,981	6,459	0	0	0
Accrued compensation and benefits
0	0	0	-	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other operating net assets
-	-	17,888	-	-	-	-12,032	-2,464	5,165	3,647	4,636	7,393	-6,077	275	4,987	-538	4,642	-9,476	-10,996	-7,189	-5,957	883	638	2,251	-646	7,252	6,893	5,807	10,382	-73	-1,339	3,448	424	706	-4,621	-7,006	-10,964	-14,388	1,392	-11,050	0	0	0
Continuing Operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	112,560	89,032	71,007	94,265	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Discontinued Operation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,197	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by operating activities
184,575	146,529	133,855	178,475	161,461	189,551	167,636	161,014	154,189	119,593	111,486	118,616	120,106	119,362	120,304	122,970	0	0	0	-	-	-	-	95,462	108,093	102,504	108,809	107,607	98,486	106,133	96,964	88,069	71,520	83,395	76,724	73,494	78,570	74,182	67,825	72,420	0	0	0
Cash Flows from Investing Activities
Additions to property, plant & equipment
136,927	143,042	126,856	137,122	145,131	150,183	151,914	153,438	155,859	158,318	145,949	138,517	124,562	96,836	78,740	58,170	44,893	39,860	40,207	52,313	48,616	46,540	44,177	29,220	28,542	26,350	25,849	25,205	27,456	32,873	36,014	42,797	44,774	49,259	48,290	40,859	33,309	21,814	16,571	13,837	0	0	0
Payment of option to acquire business
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of businesses, net of cash acquired
1,035,809	1,065,447	1,074,447	83,067	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	177,676	0	0	0	-	-	-	-	46,141	0	0	0	-	-	-	-	-	-	-	-
Purchases of equity investments
-	-	-	4,480	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Investment in unconsolidated business
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,180	1,242	3,005	3,061	4,814	0	0	0
Other investing activities
2,467	525	1,283	-693	-736	-1,018	-947	-1,047	-13	-1,250	-1,282	-1,291	-1,776	-308	-281	-161	0	0	0	-	-	-	-	-	-	-	-	-	-2,049	-2,056	-634	-615	-210	-144	-166	-360	0	0	0	-	-	-	-
Proceeds from sale of property, plant & equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Payments on deferred purchase price of businesses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Net cash used in investing activities
-	-	-	-	-	-	-	-	-	-	-	-	0	0	-155,616	-	-163,455	-39,855	-40,115	-52,246	0	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Discontinued Operation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities
-1,175,203	-1,209,014	-1,202,586	-223,976	-233,143	-207,977	-253,770	-284,950	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-202,973	-198,348	-240,818	-144,531	-147,675	-151,376	-31,945	-84,888	-88,967	-95,256	-105,078	-52,492	-53,222	-80,954	-64,833	-65,062	0	0	0
Cash Flows from Financing Activities
Proceeds from issuance of 0.25% convertible senior notes due 2022
-	-	-	-	-	-	-	345,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from borrowings of Revolving Credit Facility
0	0	0	-	-	-	-	100,000	165,000	185,000	145,000	129,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from borrowings under prior Credit Facility
0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments on borrowings under prior Credit Facility
0	0	237,780	-	-	-	60,000	292,000	282,000	272,000	272,000	25,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments on borrowings under prior Term Loan
-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Debt issuance costs
0	0	0	-	-	-	-	10,061	10,061	10,061	10,061	1,384	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment on earnout arrangement
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from exercises of stock options
6,247	5,553	6,631	8,698	9,140	9,907	11,805	10,469	9,303	14,136	17,053	15,092	16,834	15,599	10,632	9,653	8,582	4,948	4,458	5,196	4,803	3,595	3,364	4,358	3,881	5,284	5,519	4,104	4,598	3,831	3,562	2,658	3,337	3,380	5,526	6,206	6,497	5,353	3,107	2,611	0	0	0
Proceeds from borrowings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	183,000	183,000	183,000	210,000	113,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds on long-term borrowings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-
Payments on borrowings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	50,500	70,000	81,000	68,500	77,500	73,000	54,000	55,000	41,000	24,000	16,000	11,000	5,000	9,000	14,000	14,295	0	0	0	-	-	-	-	-	-	-	0
Payments on earnout arrangements
-	-	3,024	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Common stock repurchase
-	-	-	-	-	-	-	49,875	0	0	0	-	-	-	-	6,284	6,284	7,712	13,520	12,729	0	0	0	-	-	-	-	19,978	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Payments in satisfaction of employees' minimum tax obligations
15,672	15,773	11,940	7,092	9,624	9,306	7,526	6,564	4,769	5,473	5,514	4,136	3,428	2,294	2,554	2,004	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments of redeemable noncontrolling interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8,789	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other financing activities
0	0	0	-	-	-	-	-	-	-	-	-	-	970	696	587	1,114	1,422	1,686	408	-749	-1,134	-1,455	-1,514	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Minimum tax withholding requirements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefits from share-based compensation expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	2,282	2,362	3,648	4,053	2,898	2,635	1,265	976	0	0	0
Net cash provided by financing activities
1,159,907	1,205,595	1,238,512	4,877	40,976	2,061	121,779	96,969	170,598	204,224	167,464	111,572	29,313	130,891	93,990	61,452	75,040	-72,762	-86,495	-76,064	-95,341	-99,613	2,043	99,082	122,516	143,063	172,547	85,779	87,681	86,175	-20,299	-14,804	8,219	15,342	23,774	19,154	3,395	7,988	4,372	3,029	0	0	0
Effect of exchange rate changes on cash and cash equivalents
-2,382	3,474	-1,573	-1,542	-11,328	-7,835	-5,587	2,117	18,315	13,403	6,386	496	-7,345	-6,877	-2,361	-4,445	-3,814	-7,470	-5,715	-2,082	492	1,682	2,407	1,500	2,461	2,654	2,058	1,634	-2,164	-1,955	-2,895	-2,893	17	1,078	2,174	1,278	2,531	1,599	366	1,709	0	0	0
Net increase (decrease) in cash and cash equivalents
166,897	146,584	168,208	-42,166	-42,034	-24,200	30,058	-24,850	15,663	8,261	21,189	53,443	60,208	69,111	56,317	44,811	32,670	22,135	18,364	-1,026	-30,988	-57,734	-49,792	-10,773	30,097	49,873	42,596	50,489	36,328	38,977	41,825	-14,516	-9,211	4,559	-2,406	41,434	31,274	2,815	7,730	12,096	0	0	0
Cash paid for interest
0	0	0	-	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0
Cash paid for income taxes
0	0	0	-	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0
Non cash transactions:
Purchases of business - earnout consideration recorded in Other liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of business - holdback amount recorded in Other accrued liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Additions to property, plant & equipment included in accounts payable
22,688	13,141	12,885	10,986	13,477	16,745	19,717	12,313	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of treasury stock recorded in Other accrued liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash transaction: Increase to investments in other accrued liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Term A Loan
Proceeds from borrowings
0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Term B Loan
Proceeds from borrowings
0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-