Infinera corp (INFN)
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'11
Cash Flows from Operating Activities:
Net loss

-99,268

-66,594

-84,767

-113,656

-121,601

-133,467

-32,610

-21,938

-26,280

-73,985

-37,231

-42,839

-40,451

-36,253

-11,297

11,312

11,808

12,168

8,510

17,906

12,366

8,410

4,843

4,780

-4,374

-10,178

3,347

-10,009

-15,279

-16,088

-19,081

-29,549

-20,612

-19,350

-21,806

-24,194

-16,394

Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization

25,445

28,643

29,038

31,204

30,939

50,155

17,089

16,274

16,976

16,606

16,768

16,672

15,951

15,725

15,873

15,225

14,666

13,683

9,244

6,264

6,586

6,577

6,527

6,499

6,314

5,988

5,953

6,287

6,334

6,387

6,050

5,696

5,528

4,504

4,921

4,219

4,215

Non-cash restructuring charges and related (credits)

1,760

-8,299

4,064

1,321

16,851

7,372

0

0

-81

29,237

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(Recovery of) provision for other receivables

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-88

-

0

0

0

-

-

-

-

Amortization of debt discount and issuance costs

5,731

5,055

4,862

4,631

4,614

4,409

1,680

2,054

3,018

2,943

2,870

2,799

2,730

2,662

2,597

2,532

2,469

2,408

2,349

2,290

2,234

2,178

2,125

2,072

2,020

1,970

1,922

630

0

-

-

-

-

-

-

-

-

Operating lease expense

5,204

-

-

-

14,966

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of premium on investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-192

-252

-481

-512

-613

-838

-954

-1,052

-973

-919

-828

-669

-420

-136

-314

-458

-512

-480

-618

-925

-1,072

-1,231

-987

Impairment of intangible assets

-

-

-

-

-

-

-

-

-

-

-

0

252

11,295

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Stock-based compensation expense

11,703

11,729

9,805

13,047

8,713

9,016

11,367

12,044

10,983

10,296

12,167

12,380

10,877

11,342

10,211

10,993

7,987

8,712

8,451

8,209

7,208

7,547

7,371

6,804

6,672

8,174

7,643

8,184

7,975

10,135

11,317

10,930

9,437

12,730

12,580

12,482

12,365

Non-cash tax benefit

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-59

35

-9

-43

-78

Other, net

-1,153

401

-569

1,765

-1,775

-1,090

1,003

-83

-84

-133

-302

-260

-60

-1,480

-177

-84

0

-6

-4,332

4,761

19

27

-37

2

20

53

-13

48

243

-91

-22

479

22

-2

44

170

123

Changes in assets and liabilities:
Accounts receivable

-70,238

62,916

27,695

-5,462

-49,754

-6,617

5,713

-8,913

30,928

-10,771

12,551

-1,263

-26,366

-851

-40,448

9,569

-2,165

44,809

16,302

-21,749

-23,391

18,485

15,420

13,281

6,762

13,358

-9,473

-15,426

5,094

15,496

35,437

-9,244

-15,172

11,662

-4,729

12,761

-15,008

Other receivables

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,751

899

-422

182

208

59

-3,889

Inventory

-17,737

19,501

-7,301

5,703

24,937

7,691

-7,777

6,374

2,329

-12,328

-3,099

12,374

326

3,017

29,774

15,149

16,155

8,215

-3,873

671

12,103

16,471

908

4,753

3,354

-567

4,394

-5,832

5,041

11,849

4,004

12,720

12,050

18,340

936

-9,283

-3,986

Prepaid expenses and other assets

18,744

40,151

22,512

25,722

5,236

13,752

-2,103

-2,141

3,950

-7,172

7,239

2,360

5,767

3,876

1,297

54

274

-2,810

4,978

2,221

-1,141

3,359

1,576

-408

3,797

-3,265

4,189

1,877

361

-6,107

1,500

640

-2,173

-7,224

-6,007

1,661

-1,125

Deferred inventory costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-967

-2,743

-1,167

-1,450

-1,153

326

278

Accounts payable

-72,355

66,785

11,761

28,165

-23,439

-26,774

1,796

5,172

19,286

-30,603

8,913

20,107

-3,180

-14,319

-6,596

1,702

-9,041

21,562

21,258

-13,280

-10,317

7,801

17,437

-4,348

-2,080

10,422

-6,644

-15,935

-8,045

16,458

7,705

-1,487

-7,266

12,230

4,884

978

-8,750

Accrued liabilities and other expenses

-32,083

41,851

18,279

10,014

-15,486

9,264

-16,137

-8,436

-6,181

4,362

-6,254

3,922

-16,425

-3,432

-2,052

9,508

-15,036

15,644

-8,687

14,386

-12,895

15,341

3,975

10,130

-13,448

9,632

1,860

6,081

-6,301

3,225

5,962

-1,262

-1,010

664

-6,446

11,028

-15,528

Deferred revenue

-8,038

33,731

4,194

-19,200

6,933

16,663

-11,020

-2,942

5,293

7,841

-1,490

-2,878

12,943

22,244

-10,934

353

9,776

10,077

-3,516

1,419

2,797

13,060

-2,824

-539

-909

8,992

-6,095

100

4,340

10,446

-1,731

-5,576

624

3,058

-2,766

-677

-16

Accrued warranty

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-2,344

1,032

1,133

-

7,343

2,900

-1,501

-

-142

1,563

3,477

-254

3,461

3,029

190

1,182

1,597

716

121

1,760

411

535

-1,262

Net cash used in operating activities

-91,517

-10,190

-37,193

-63,813

-56,154

-71,554

-20,411

6,991

-14,109

-1,009

-20,898

-3,048

3,030

-5,027

5,204

28,221

9,979

25,816

32,490

55,028

19,842

18,726

22,418

10,252

-15,433

25,785

12,770

17,924

-21,299

8,331

-29,296

-22,744

-5,757

-5,081

4,105

-135

-854

Cash Flows from Investing Activities:
Purchase of available-for-sale investments

-

-

-

-

-

0

0

0

2,986

37,966

14,395

23,432

84,422

6,060

20,966

59,658

37,393

59,797

14,000

32,918

80,022

88,126

55,776

78,273

80,223

81,612

75,700

110,805

20,023

4,016

7,281

20,946

21,907

66,505

53,795

45,985

107,049

Proceeds from sales of available-for-sale investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

57,305

7,997

2,001

10,605

8,052

9,824

0

0

0

0

2,850

4,890

1,500

0

5,194

1,037

0

0

3,035

Proceeds from maturities of investments

0

-1,499

1,499

14,543

10,542

4,000

0

47,944

50,168

40,906

32,967

32,324

46,679

32,344

18,840

27,955

63,759

34,517

35,234

52,203

91,280

39,914

51,847

59,227

57,063

48,481

14,496

28,812

33,835

22,237

24,904

38,430

32,034

68,983

68,287

41,095

109,416

Acquisition of business, net of cash acquired

0

0

0

0

10,000

102,899

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from disposal of assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

158

104

Purchase of property and equipment, net

8,464

1,871

12,547

9,194

6,590

10,665

5,524

13,484

8,019

7,794

11,047

24,457

14,743

10,457

9,600

12,434

10,844

15,308

10,612

8,731

7,367

8,758

4,379

4,377

5,608

7,460

4,174

4,495

4,936

3,156

2,468

6,121

13,649

16,146

5,914

6,720

10,602

Advance to secure manufacturing capacity

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1,500

Reimbursement of manufacturing capacity advance

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

50

75

150

150

75

Change in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,890

30

30

-8

163

62

-352

1,251

-171

12

479

179

-116

50

-44

263

334

37

193

279

311

-1,505

-68

Net cash used in investing activities

-8,464

-2,649

-10,270

6,358

-6,048

-109,564

25,451

57,574

39,163

-4,854

14,058

-11,567

-52,486

42,260

-21,616

-44,167

15,492

-40,580

-75,628

18,489

6,244

-47,616

-5,585

-13,611

-29,247

-40,770

-65,262

-86,538

11,770

19,692

16,321

11,326

1,529

-12,835

3,917

-9,797

-6,453

Cash Flows from Financing Activities:
Proceeds from issuance of 2027 Notes

194,500

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from mortgage payable

0

-

-

-

8,584

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from revolving line of credit

55,000

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of revolving line of credit

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of debt, net

-

-

-

-

-

-

391,431

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of debt issuance cost

1,775

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of mortgage payable

99

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Security pledge related to acquire noncontrolling interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-19,021

24,942

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition of non-controlling interest

-

-

-

-

-

-

-

-

-

0

0

0

471

0

16,771

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of common stock

7,395

0

4,313

0

7,740

0

6,627

422

10,644

0

6,876

1,307

9,808

1,162

7,900

799

7,787

1,918

6,945

6,357

10,131

5,024

11,282

1,347

7,054

1,634

9,055

6,936

5,560

300

4,187

88

7,005

59

4,252

803

4,909

Minimum tax withholding paid on behalf of employees for net share settlement

-

-

-

-

-

51

129

867

97

71

140

672

151

65

510

638

2,444

184

482

611

3,950

0

227

0

1,619

3

42

6

1,493

7

36

7

832

9

39

1,200

0

Payments for purchase of assets under financing arrangement

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

88

87

87

Net cash provided by financing activities

255,021

23,237

32,799

-450

16,324

-1,262

349,049

-150,445

10,547

-71

6,736

635

9,186

7,018

9,640

-24,781

5,343

2,593

6,463

5,746

6,181

5,024

11,055

1,347

5,435

1,631

9,013

151,399

4,067

293

4,151

81

6,173

50

4,125

-484

4,822

Effect of exchange rate changes on cash and restricted cash

-4,369

1,769

-3,227

1,180

-1,213

2,475

-836

-2,160

-58

339

912

1,606

1,337

-2,977

-612

-867

59

169

-240

132

-139

-503

-331

70

164

55

-103

-572

-206

-250

436

-384

306

-317

-432

-10

188

Net change in cash, cash equivalents and restricted cash

150,671

12,167

-17,891

-56,725

-47,091

-179,905

353,253

-88,040

35,543

-5,595

808

-12,374

-38,933

41,274

-7,384

-41,594

30,873

-12,002

-36,915

79,395

32,128

-24,369

27,557

-1,942

-39,081

-13,299

-43,582

82,213

-5,668

28,066

-8,388

-11,721

2,251

-18,183

11,715

-10,426

-2,297

Supplemental disclosures of cash flow information:
Cash paid for income taxes, net of refunds

1,072

1,020

2,318

12,253

1,353

3,372

1,110

673

1,537

1,531

1,476

1,130

1,553

1,068

2,320

1,683

1,554

2,018

1,071

584

897

641

574

179

303

599

388

938

210

168

160

266

329

635

287

123

442

Cash paid for interest

5,131

-3,805

8,682

372

4,315

2,222

4

1,319

9

1,322

1

1,313

3

1,331

35

1,373

37

1,330

4

1,313

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Supplemental schedule of non-cash investing and financing activities:
Unpaid debt issuance cost

1,793

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash settlement for manufacturing capacity advance

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

275

0

0

0

0

Transfer of inventory to fixed assets

118

521

245

390

1,805

2,622

-519

791

893

1,840

1,023

1,949

138

386

1,202

2,600

1,409

3,453

3,656

802

1,403

731

860

375

603

-1,214

1,988

3,162

1,522

-

-

-

-

-

-

-

-