IPG PHOTONICS CORP IPGP Cash Flow

Ipg photonics corp (IPGP)

CashFlow / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09
Cash flows from operating activities:
Net income
180,261	404,169	347,588	260,716	242,027	200,445	155,780	147,744	121,009	54,352	5,284
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
96,268	80,271	64,568	51,475	42,415	35,612	31,524	26,144	23,962	21,845	19,172
Deferred income taxes
15,489	4,576	-22,881	12,908	7,153	1,486	6,168	-5,546	288	-401	4,087
Stock-based compensation
33,363	28,027	23,021	21,734	18,989	15,172	11,720	8,565	8,048	3,196	2,767
Goodwill impairment
37,120	0	0	-	-	-	-	-	-	-	-
Impairment of long-lived assets
5,350	0	0	-	-	-	-	-	-	-	-
Unrealized loss (gain) on foreign currency transactions
-11,004	2,670	-7,949	-2,298	5,491	3,497	235	-1,250	764	888	-1,023
Other
-3,320	3,586	-986	-2,724	-510	-459	-62	19	-565	-1,184	36
Provisions for inventory, warranty and bad debt
63,752	38,862	44,978	46,469	39,985	28,036	29,975	19,967	15,346	11,377	11,353
Changes in assets and liabilities that (used) provided cash, net of acquisitions:
Accounts receivable
-9,776	18,814	63,225	11,444	19,036	48,518	9,991	22,706	23,688	27,308	-9,269
Inventories
28,105	135,440	71,080	53,626	70,565	42,246	50,355	22,975	56,139	27,018	-5,600
Prepaid expenses and other assets
-18,405	7,062	911	4,069	-1,853	5,351	3,980	899	770	4,707	-679
Accounts payable
-10,257	-1,426	2,309	-407	9,806	3,262	974	4,375	1,985	3,411	-498
Accrued expenses and other liabilities
-37,310	-19,666	9,612	5,480	613	-1,567	-281	-8,155	-6,811	22,119	-72
Income and other taxes payable
-43,937	35,212	16,719	-10,746	9,529	5,763	-30,784	21,118	12,929	12,911	5,167
Tax benefit from exercise of employee stock options
-	-	-	-	-	5,979	8,874	4,679	8,033	7,443	-1,216
Net cash provided by operating activities
323,521	393,301	405,395	297,696	263,482	180,105	119,367	175,276	87,351	63,432	54,405
Cash flows from investing activities:
Purchases of and deposits on property, plant and equipment
133,536	160,343	126,535	127,042	70,119	88,601	70,919	68,184	53,007	28,374	10,498
Purchase of intangible assets
-	-	-	-	-	2,000	0	0	-	-	-
Proceeds from sales of property, plant and equipment
661	1,026	15,882	658	164	434	236	0	0	-	-
Purchases of short-term and long-term investments
760,300	765,310	211,832	299,508	106,747	0	0	-	25,451	-	-
Proceeds from sale of investment
-	-	-	-	-	-	495	0	0	-	-
Proceeds from short-term investments
768,078	470,328	212,515	198,808	0	0	-	25,451	-	-	-
Acquisitions of businesses, net of cash acquired
15,115	109,115	60,483	47,792	4,958	0	5,555	11,596	750	4,108	0
Other
-237	-415	352	-468	-93	-87	143	928	-109	77	141
Net cash used in investing activities
-139,975	-562,999	-170,805	-274,408	-181,567	-90,080	-75,886	-55,257	-79,099	-32,559	-10,639
Cash flows from financing activities:
Proceeds from line-of-credit facilities
15	255	6,761	7,992	12,887	33,282	16,843	12,760	10,673	13,828	19,056
Payments on line-of-credit facilities
15	255	6,761	7,992	15,227	33,623	15,990	17,190	10,630	13,086	32,851
Proceeds on long-term borrowings
0	0	28,000	23,750	0	0	-	-	-	-	-
Purchase of redeemable noncontrolling interests
-	-	-	-	-	-	-	-55,400	19,972	24,806	-
Purchases of NCI
-	-	-	-	-	-	-	-	-	-	508
Principal payments on long-term borrowings
3,671	3,604	19,842	2,594	13,333	1,667	2,853	2,117	1,432	1,333	1,344
Proceeds from issuance of common stock under employee stock option and purchase plans less payments for taxes related to net share settlement of equity awards
7,336	12,183	28,654	16,183	14,132	7,558	7,275	5,480	5,268	6,298	-
Cash contributed by non-controlling interest
0	839	0	0	-	-	-	-	-	-	-
Purchase of non-controlling interests
0	0	197	950	0	0	-	700	0	92	3,027
Tax benefit from exercise of employee stock options
-	-	-	-	-	5,979	8,874	4,679	8,034	7,443	2,201
Purchase of treasury stock, at cost
40,732	176,065	39,987	8,946	0	0	-	-	-	-	-
Tax benefit from exercise of employee stock options
-	-	-	-	-	-	-	-	-	-	-1,216
Proceeds from follow-on public offering, net of offering expenses
-	-	-	-	-	-	-	167,928	0	-	-
Distributions to shareholders
-	-	-	-	-	-	-	-33,353	0	-	-
Other
-	-	-	-	-	-	-	-	-	-100	-50
Net cash used in financing activities
-37,067	-166,647	-3,372	27,443	-1,541	11,529	14,149	82,087	31,885	37,764	-12,280
Effect of changes in exchange rates on cash, cash equivalents and restricted cash
-7,853	-29,197	54,827	-9,408	-19,992	-28,180	7,093	1,713	-7,763	-3,697	151
Net increase (decrease) in cash, cash equivalents and restricted cash
138,626	-365,542	286,045	41,323	60,382	73,374	64,723	203,819	32,374	64,940	31,637
Supplemental disclosure of cash flow information:
Cash paid for interest
2,683	3,052	2,583	942	873	253	208	864	1,089	998	1,461
Cash paid for income taxes
116,951	112,762	155,559	126,964	91,329	73,544	89,611	25,980	39,199	7,417	4,929
Non-cash transactions:
Demonstration units transferred from inventory to other assets
10,367	6,270	4,114	6,293	3,181	3,528	3,927	2,631	3,784	1,620	8,806
Property, plant and equipment transferred from inventory
7,659	2,535	8,425	4,529	2,951	1,551	0	0	-	-	-
Changes in accounts payable related to property, plant and equipment
1,304	-2,852	1,594	973	350	-	-	-	-	-	-
Leased assets obtained in exchange for new operating lease liabilities
14,670	0	0	-	-	-	-	-	-	-	-
Amounts related to acquisition of businesses included in accounts payable and accrued expenses and other long-term liabilities
-	-	-	-	-	-	-	-	-	1,120	-
Additions to property, plant and equipment included in accounts payable
-	-	-	-	-	1,084	2,132	2,071	484	407	100
Property purchase financed with debt
-	-	-	-	-	22,000	0	0	1,833	-	-
Gain on sale of property, plant and equipment offset by related notes
-	-	-	-	-	-	-	322	0	-	-
Inventory contributed to unconsolidated affiliate
-	-	-	-	-	-	-	-	-	-	247