INFINERA CORP INFN Cash Flow

Infinera corp (INFN)

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
Cash Flows from Operating Activities:
Net loss
-364,285	-386,618	-453,491	-401,334	-309,616	-214,295	-154,813	-159,434	-180,335	-194,506	-156,774	-130,840	-76,689	-24,430	23,991	43,798	50,392	50,950	47,192	43,525	30,399	13,659	-4,929	-6,425	-21,214	-32,119	-38,029	-60,457	-79,997	-85,330	-88,592	-91,317	-85,962	-81,744	0	0	0
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization
114,330	119,824	141,336	129,387	114,457	100,494	66,945	66,624	67,022	65,997	65,116	64,221	62,774	61,489	59,447	52,818	43,857	35,777	28,671	25,954	26,189	25,917	25,328	24,754	24,542	24,562	24,961	25,058	24,467	23,661	21,778	20,649	19,172	17,859	0	0	0
Non-cash restructuring charges and related (credits)
-1,154	13,937	29,608	25,544	24,223	7,291	29,156	29,156	29,156	29,237	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
(Recovery of) provision for other receivables
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	0	0	-	-	-	-
Amortization of debt discount and issuance costs
20,279	19,162	18,516	15,334	12,757	11,161	9,695	10,885	11,630	11,342	11,061	10,788	10,521	10,260	10,006	9,758	9,516	9,281	9,051	8,827	8,609	8,395	8,187	7,984	6,542	4,522	0	0	0	-	-	-	-	-	-	-	-
Operating lease expense
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of premium on investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,437	-1,858	-2,444	-2,917	-3,457	-3,817	-3,898	-3,772	-3,389	-2,836	-2,053	-1,539	-1,328	-1,420	-1,764	-2,068	-2,535	-3,095	-3,846	-4,215	0	0	0
Impairment of intangible assets
-	-	-	-	-	-	-	-	-	-	-	11,547	11,547	11,295	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Stock-based compensation expense
46,284	43,294	40,581	42,143	41,140	43,410	44,690	45,490	45,826	45,720	46,766	44,810	43,423	40,533	37,903	36,143	33,359	32,580	31,415	30,335	28,930	28,394	29,021	29,293	30,673	31,976	33,937	37,611	40,357	41,819	44,414	45,677	47,229	50,157	0	0	0
Non-cash tax benefit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-76	-95	0	0	0
Other, net
444	-178	-1,669	-97	-1,945	-254	703	-602	-779	-755	-2,102	-1,977	-1,801	-1,741	-267	-4,422	423	442	475	4,770	11	12	38	62	108	331	187	178	609	388	477	543	234	335	0	0	0
Changes in assets and liabilities:
Accounts receivable
14,911	35,395	-34,138	-56,120	-59,571	21,111	16,957	23,795	31,445	-25,849	-15,929	-68,928	-58,096	-33,895	11,765	68,515	37,197	15,971	-10,353	-11,235	23,795	53,948	48,821	23,928	-4,779	-6,447	-4,309	40,601	46,783	26,517	22,683	-17,483	4,522	4,686	0	0	0
Other receivables
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,410	867	27	-3,440	0	0	0
Inventory
166	42,840	31,030	30,554	31,225	8,617	-11,402	-6,724	-724	-2,727	12,618	45,491	48,266	64,095	69,293	35,646	21,168	17,116	25,372	30,153	34,235	25,486	8,448	11,934	1,349	3,036	15,452	15,062	33,614	40,623	47,114	44,046	22,043	6,007	0	0	0
Prepaid expenses and other assets
107,129	93,621	67,222	42,607	14,744	13,458	-7,466	1,876	6,377	8,194	19,242	13,300	10,994	5,501	-1,185	2,496	4,663	3,248	9,417	6,015	3,386	8,324	1,700	4,313	6,598	3,162	320	-2,369	-3,606	-6,140	-7,257	-14,764	-13,743	-12,695	0	0	0
Deferred inventory costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-6,327	-6,513	-3,444	-1,999	0	0	0
Accounts payable
34,356	83,272	-10,287	-20,252	-43,245	-520	-4,349	2,768	17,703	-4,763	11,521	-3,988	-22,393	-28,254	7,627	35,481	20,499	19,223	5,462	1,641	10,573	18,810	21,431	-2,650	-14,237	-20,202	-14,166	183	14,631	15,410	11,182	8,361	10,826	9,342	0	0	0
Accrued liabilities and other expenses
38,061	54,658	22,071	-12,345	-30,795	-21,490	-26,392	-16,509	-4,151	-14,395	-22,189	-17,987	-12,401	-11,012	8,064	1,429	6,307	8,448	8,145	20,807	16,551	15,998	10,289	8,174	4,125	11,272	4,865	8,967	1,624	6,915	4,354	-8,054	4,236	-10,282	0	0	0
Deferred revenue
10,687	25,658	8,590	-6,624	9,634	7,994	-828	8,702	8,766	16,416	30,819	21,375	24,606	21,439	9,272	16,690	17,756	10,777	13,760	14,452	12,494	8,788	4,720	1,449	2,088	7,337	8,791	13,155	7,479	3,763	-3,625	-4,660	239	-401	0	0	0
Accrued warranty
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	4,644	8,247	9,713	6,426	7,862	5,998	3,685	3,616	4,194	3,008	2,827	1,444	0	0	0
Net cash used in operating activities
-202,713	-167,350	-228,714	-211,932	-141,128	-99,083	-28,538	-29,025	-39,064	-21,925	-25,943	159	31,428	38,377	69,220	96,506	123,313	133,176	126,086	116,014	71,238	35,963	43,022	33,374	41,046	35,180	17,726	-24,340	-65,008	-49,466	-62,878	-29,477	-6,868	-1,965	0	0	0
Cash Flows from Investing Activities:
Purchase of available-for-sale investments
-	-	-	-	-	2,986	40,952	55,347	78,779	160,215	128,309	134,880	171,106	124,077	177,814	170,848	144,108	186,737	215,066	256,842	302,197	302,398	295,884	315,808	348,340	288,140	210,544	142,125	52,266	54,150	116,639	163,153	188,192	273,334	0	0	0
Proceeds from sales of available-for-sale investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	67,303	77,908	28,655	30,482	28,481	17,876	9,824	0	2,850	7,740	9,240	9,240	11,584	7,731	6,231	6,231	4,072	0	0	0
Proceeds from maturities of investments
14,543	25,085	30,584	29,085	62,486	102,112	139,018	171,985	156,365	152,876	144,314	130,187	125,818	142,898	145,071	161,465	185,713	213,234	218,631	235,244	242,268	208,051	216,618	179,267	148,852	125,624	99,380	109,788	119,406	117,605	164,351	207,734	210,399	287,781	0	0	0
Acquisition of business, net of cash acquired
0	10,000	112,899	112,899	112,899	102,899	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from disposal of assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	262	0	0	0
Purchase of property and equipment, net
32,076	30,202	38,996	31,973	36,263	37,692	34,821	40,344	51,317	58,041	60,704	59,257	47,234	43,335	48,186	49,198	45,495	42,018	35,468	29,235	24,881	23,122	21,824	21,619	21,737	21,065	16,761	15,055	16,681	25,394	38,384	41,830	42,429	39,382	0	0	0
Advance to secure manufacturing capacity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,500	0	0	0
Reimbursement of manufacturing capacity advance
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	50	125	275	425	450	0	0	0
Change in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,942	215	247	-135	1,124	790	740	1,571	499	554	592	69	153	603	590	827	843	820	-722	-983	0	0	0
Net cash used in investing activities
-15,025	-12,609	-119,524	-83,803	-32,587	12,624	117,334	105,941	36,800	-54,849	-7,735	-43,409	-76,009	-8,031	-90,871	-144,883	-82,227	-91,475	-98,511	-28,468	-60,568	-96,059	-89,213	-148,890	-221,817	-180,800	-120,338	-38,755	59,109	48,868	16,341	3,937	-17,186	-25,168	0	0	0
Cash Flows from Financing Activities:
Proceeds from issuance of 2027 Notes
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from mortgage payable
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from revolving line of credit
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of revolving line of credit
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of debt, net
-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment of debt issuance cost
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of mortgage payable
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Security pledge related to acquire noncontrolling interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition of non-controlling interest
-	-	-	-	-	-	-	-	-	471	471	17,242	17,242	16,771	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of common stock
11,708	12,053	12,053	14,367	14,789	17,693	17,693	17,942	18,827	17,991	19,153	20,177	19,669	17,648	18,404	17,449	23,007	25,351	28,457	32,794	27,784	24,707	21,317	19,090	24,679	23,185	21,851	16,983	10,135	11,580	11,339	11,404	12,119	10,023	0	0	0
Minimum tax withholding paid on behalf of employees for net share settlement
-	-	-	-	-	1,144	1,164	1,175	980	1,034	1,028	1,398	1,364	3,657	3,776	3,748	3,721	5,227	5,043	4,788	4,177	1,846	1,849	1,664	1,670	1,544	1,548	1,542	1,543	882	884	887	2,080	1,248	0	0	0
Payments for purchase of assets under financing arrangement
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	262	0	0	0
Net cash provided by financing activities
310,607	71,910	47,411	363,661	213,666	207,889	209,080	-133,233	17,847	16,486	23,575	26,479	1,063	-2,780	-7,205	-10,382	20,145	20,983	23,414	28,006	23,607	22,861	19,468	17,426	167,478	166,110	164,772	159,910	8,592	10,698	10,455	10,429	9,864	8,513	0	0	0
Effect of exchange rate changes on cash and restricted cash
-4,647	-1,491	-785	1,606	-1,734	-579	-2,715	-967	2,799	4,194	878	-646	-3,119	-4,397	-1,251	-879	120	-78	-750	-841	-903	-600	-42	186	-456	-826	-1,131	-592	-404	108	41	-827	-453	-571	0	0	0
Net change in cash, cash equivalents and restricted cash
88,222	-109,540	-301,612	69,532	38,217	120,851	295,161	-57,284	18,382	-56,094	-9,225	-17,417	-46,637	23,169	-30,107	-59,638	61,351	62,606	50,239	114,711	33,374	-37,835	-26,765	-97,904	-13,749	19,664	61,029	96,223	2,289	10,208	-36,041	-15,938	-14,643	-19,191	0	0	0
Supplemental disclosures of cash flow information:
Cash paid for income taxes, net of refunds
16,663	16,944	19,296	18,088	6,508	6,692	4,851	5,217	5,674	5,690	5,227	6,071	6,624	6,625	7,575	6,326	5,227	4,570	3,193	2,696	2,291	1,697	1,655	1,469	2,228	2,135	1,704	1,476	804	923	1,390	1,517	1,374	1,487	0	0	0
Cash paid for interest
10,380	9,564	15,591	6,913	7,860	3,554	2,654	2,651	2,645	2,639	2,648	2,682	2,742	2,776	2,775	2,744	2,684	2,647	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Supplemental schedule of non-cash investing and financing activities:
Unpaid debt issuance cost
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash settlement for manufacturing capacity advance
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	275	275	275	275	0	0	0	0
Transfer of inventory to fixed assets
1,274	2,961	5,062	4,298	4,699	3,787	3,005	4,547	5,705	4,950	3,496	3,675	4,326	5,597	8,664	11,118	9,320	9,314	6,592	3,796	3,369	2,569	624	1,752	4,539	5,458	0	0	0	-	-	-	-	-	-	-	-