IPG PHOTONICS CORP IPGP Cash Flow

Ipg photonics corp (IPGP)

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 income
162,111	180,261	260,030	303,655	352,751	404,169	381,659	396,504	378,990	347,588	369,761	323,391	286,320	260,716	246,265	239,797	234,009	242,027	237,780	230,221	217,260	200,445	180,609	167,747	161,184	155,780	154,097	154,194	152,323	147,744	144,687	136,521	128,179	121,009	0	0	0
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
97,565	96,268	93,908	89,030	83,850	80,271	77,046	73,581	69,287	64,568	60,245	57,536	54,585	51,475	48,982	45,892	44,066	42,415	40,282	38,700	37,253	35,612	34,519	33,727	32,409	31,524	30,390	28,671	27,146	26,144	24,948	24,365	24,519	23,962	0	0	0
Deferred income taxes
25,623	15,489	11,744	8,045	2,778	4,576	-11,301	-24,445	-26,074	-22,881	-13,680	-893	5,959	12,908	12,063	14,303	15,602	7,153	2,676	-1,289	-6,832	1,486	4,531	7,676	13,102	6,168	4,750	-1,772	-7,016	-5,546	-1,853	6,523	2,635	288	0	0	0
Stock-based compensation
33,655	33,363	32,155	31,334	29,750	28,027	27,475	25,686	24,085	23,021	22,624	22,357	22,126	21,734	21,213	20,563	19,821	18,989	17,980	16,862	16,032	15,172	14,183	13,420	12,455	11,720	10,811	9,838	9,099	8,565	8,226	7,946	7,439	8,048	0	0	0
Unrealized loss (gain) on foreign currency transactions
8,852	-11,004	-6,142	-2,571	412	2,670	2,027	-1,355	-2,496	-7,949	-4,451	-5,596	-958	-2,298	-4,446	-161	-4,726	5,491	0	0	0	-	-	-	1,109	235	-738	-1,524	978	-1,250	-902	2,180	-239	764	0	0	0
Other
-4,212	-3,320	796	3,235	3,467	3,586	1,649	-117	-148	-986	-3,230	-3,118	-3,391	-2,724	-512	-709	-635	-510	-186	-219	-87	-459	-157	63	-500	-62	-312	-429	47	19	-55	-47	-870	-565	0	0	0
Provisions for inventory, warranty and bad debt
67,326	63,752	47,028	41,467	39,456	38,862	40,870	42,316	45,294	44,978	47,653	48,764	46,544	46,469	44,077	41,640	40,895	39,985	37,544	34,633	30,769	28,036	31,678	31,927	31,554	29,975	23,408	21,720	19,873	19,967	18,249	16,792	15,339	15,346	0	0	0
Changes in assets and liabilities that (used) provided cash, net of acquisitions:
Accounts receivable
-21,415	-9,776	318	30,379	3,903	18,814	32,867	-918	32,482	63,225	57,007	87,963	42,385	11,444	9,885	-15,597	-989	19,036	30,596	59,546	56,030	48,518	20,975	9,499	6,114	9,991	13,134	30,617	18,753	22,706	33,981	20,061	33,805	23,688	0	0	0
Inventories
18,815	28,105	64,421	85,215	105,415	135,440	153,434	136,274	98,416	71,080	50,509	44,778	56,669	53,626	61,207	72,022	76,032	70,565	64,198	60,469	52,288	42,246	36,870	41,529	47,227	50,355	49,630	36,641	25,932	22,975	20,928	31,094	46,446	56,139	0	0	0
Prepaid expenses and other assets
-8,002	-18,405	-8,950	-3,545	3,640	7,062	4,276	134	-923	911	1,527	6,185	7,863	4,069	4,311	744	-2,398	-1,853	3,491	3,842	1,343	5,351	300	2,041	6,499	3,980	1,042	1,106	716	899	2,357	-2,489	-1,445	770	0	0	0
Accounts payable
-6,158	-10,257	-8,244	-11,398	-605	-1,426	-2,433	9,922	5,003	2,309	12,832	9,948	4,782	-407	-4,529	-3,057	4,288	9,806	6,457	10,368	1,515	3,262	4,306	-4,218	3,426	974	197	4,699	1,737	4,375	-1,320	-719	-442	1,985	0	0	0
Accrued expenses and other liabilities
-33,513	-37,310	-25,684	-11,126	-20,431	-19,666	-12,292	-10,350	762	9,612	3,441	11,923	13,199	5,480	805	-1,331	-4,991	613	-564	-3,794	-8,275	-1,567	-362	429	6,311	-281	-4,140	-5,113	-4,430	-8,155	-5,619	-8,040	-7,219	-6,811	0	0	0
Income and other taxes payable
-7,148	-43,937	-30,374	-35,675	-27,853	35,212	59,423	52,758	32,064	16,719	-30,173	-22,106	-35,410	-10,746	-15,411	-8,191	16,396	9,529	23,873	13,901	13,654	5,763	-6,207	557	9,284	-30,784	-23,106	-22,335	-24,311	21,118	17,539	22,141	22,692	12,929	0	0	0
Tax benefit from exercise of employee stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	9,105	9,218	9,187	5,979	7,960	8,944	8,975	8,874	4,419	5,940	5,095	4,679	0	0	0	-	-	-	0
Net cash provided by operating activities
336,647	323,521	306,632	286,529	337,303	393,301	388,796	480,844	454,228	405,395	398,701	322,494	283,619	297,696	264,716	270,376	276,371	263,482	250,629	204,640	188,722	180,105	182,493	171,968	174,097	119,367	119,732	121,095	136,932	175,276	147,861	138,814	104,202	87,351	0	0	0
Cash flows from investing activities:
Purchases of and deposits on property, plant and equipment
118,349	133,536	134,528	150,319	154,218	160,343	160,669	179,419	143,773	126,535	126,216	99,811	123,957	127,042	119,407	108,376	81,052	70,119	66,637	75,426	91,172	88,601	95,309	82,437	64,629	70,919	64,802	66,481	72,151	68,184	69,972	66,187	57,199	53,007	0	0	0
Proceeds from sales of property, plant and equipment
619	661	619	673	997	1,026	1,200	1,239	15,993	15,882	15,875	15,758	628	658	153	209	162	164	247	319	446	434	452	324	266	236	202	166	89	0	0	0	0	-	-	-	-
Purchases of short-term and long-term investments
890,394	760,300	756,486	815,308	872,634	765,310	631,745	430,418	254,436	211,832	266,719	308,541	297,782	299,508	286,121	168,958	136,646	106,747	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from short-term investments
751,246	768,078	188,173	297,266	743,345	470,328	114,312	207,068	71,984	212,515	-148,143	917	259,178	198,808	158,808	41,720	10,000	0	0	0	0	-	-	-	-	-	-	-	-	25,451	0	0	0	-	-	-	-
Acquisitions of businesses, net of cash acquired
0	15,115	119,807	119,808	124,230	109,115	0	0	0	-	-	-	-	-	-	-	-	4,958	4,958	4,958	4,958	0	0	0	0	5,555	5,555	17,151	17,151	11,596	11,896	300	300	750	0	0	0
Other
-301	-237	-351	-436	-354	-415	-451	-404	229	352	44	172	-375	-468	-46	-79	-79	-93	-84	-131	-115	-87	519	508	486	143	173	482	702	928	393	42	-109	-109	0	0	0
Net cash used in investing activities
-256,577	-139,975	-257,368	-440,936	-546,708	-562,999	-494,357	-443,830	-230,622	-170,805	-200,820	-92,079	-209,350	-274,408	-293,048	-281,853	-207,457	-181,567	-71,264	-81,934	-97,569	-90,080	-96,881	-82,126	-64,354	-75,886	-70,329	-74,184	-71,465	-55,257	-82,260	-76,293	-75,840	-79,099	0	0	0
Cash flows from financing activities:
Proceeds from line-of-credit facilities
-	-	-	-	-	255	255	255	5,082	6,761	8,723	10,751	7,712	7,992	11,411	7,457	11,485	12,887	14,737	27,338	26,009	33,282	28,770	20,248	18,835	16,843	17,237	17,782	16,630	12,760	11,637	10,671	12,071	10,673	0	0	0
Payments on line-of-credit facilities
-	-	-	-	-	255	255	255	5,082	6,761	8,723	10,751	7,703	7,992	11,477	9,020	11,962	15,227	16,567	27,921	27,250	33,623	27,807	19,310	26,436	15,990	20,604	20,089	16,272	17,190	14,137	13,505	8,919	10,630	0	0	0
Principal payments on long-term borrowings
3,688	3,671	3,655	3,637	3,620	3,604	3,587	3,376	19,940	19,842	19,748	19,854	2,891	2,594	2,297	2,000	13,000	13,333	13,500	13,333	2,167	1,667	1,334	1,334	1,546	2,853	2,788	2,827	3,397	2,117	2,234	2,242	1,459	1,432	0	0	0
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
7,987	7,336	1,712	1,520	2,921	12,183	17,473	22,133	22,167	28,654	30,293	24,756	23,139	16,183	12,829	13,137	12,367	14,132	14,317	13,753	11,356	7,558	7,777	8,477	7,166	7,275	4,433	5,408	5,451	5,480	0	0	0	-	-	-	-
Purchase of non-controlling interests
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	700	0	0	0	-	-	-	-
Tax benefit from exercise of employee stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	9,105	9,218	9,187	5,979	7,960	8,944	8,975	8,874	4,419	5,940	5,095	4,679	4,394	5,140	4,198	8,034	0	0	0
Purchase of treasury stock, at cost
53,448	40,732	90,060	127,285	155,994	176,065	125,002	66,939	47,519	39,987	32,374	33,058	21,485	8,946	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment of purchase price holdback from business combination
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Tax benefit from exercise of employee stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Proceeds from follow-on public offering, net of offering expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	167,928	0	0	0	-	-	-	-
Net cash used in financing activities
-50,799	-37,067	-91,542	-128,563	-155,854	-166,647	-110,738	-20,182	-17,489	-3,372	5,974	-28,353	21,572	27,443	23,961	26,709	-5,883	-1,541	8,092	9,055	17,135	11,529	15,366	17,025	6,994	14,149	-30,691	-27,233	-81,586	82,087	116,574	113,244	196,340	31,885	0	0	0
Effect of changes in exchange rates on cash, cash equivalents and restricted cash
-8,734	-7,853	-22,210	-845	-52,060	-29,197	-16,362	-8,151	65,228	54,827	30,854	18,763	-11,755	-9,408	-1,291	546	9,187	-19,992	-23,755	-43,685	-47,423	-28,180	-11,815	7,081	8,157	7,093	7,074	4,228	-5,237	1,713	-6,192	-18,383	-8,249	-7,763	0	0	0
Net increase (decrease) in cash, cash equivalents and restricted cash
20,537	138,626	-64,488	-283,815	-417,319	-365,542	-232,661	8,681	271,345	286,045	234,709	220,825	84,086	41,323	-5,662	15,778	72,218	60,382	163,702	88,076	60,865	73,374	89,163	113,948	124,894	64,723	25,786	23,906	-21,356	203,819	175,983	157,382	216,453	32,374	0	0	0
Supplemental disclosure of cash flow information:
Cash paid for interest
2,381	2,683	2,305	2,544	3,002	3,052	3,020	3,280	2,935	2,583	2,284	1,568	1,218	942	808	689	751	873	639	563	444	253	320	266	222	208	501	618	701	864	833	986	1,085	1,089	0	0	0
Cash paid for income taxes
95,378	116,951	115,133	122,122	144,654	112,762	131,700	139,098	143,734	155,559	150,085	141,442	146,380	126,964	121,492	113,079	91,395	91,329	82,190	76,747	64,540	73,544	72,234	69,828	62,691	89,611	79,120	72,842	67,038	25,980	40,701	38,740	37,089	39,199	0	0	0
Non-cash transactions:
Demonstration units transferred from inventory to other assets
8,269	10,367	11,375	11,122	9,008	6,270	4,611	3,989	3,758	4,114	6,667	6,392	6,472	6,293	4,102	3,448	3,170	3,181	2,874	3,689	3,552	3,528	3,391	2,835	3,912	3,927	3,718	3,859	2,730	2,631	3,697	3,675	3,521	3,784	0	0	0
Inventory transferred to machinery and equipment
0	-	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-
Changes in accounts payable related to property, plant and equipment
6,470	1,304	3,206	790	2,261	-2,852	-1,728	1,803	-392	1,594	1,388	-1,725	-663	973	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Leased assets obtained in exchange for new operating lease liabilities
9,145	14,670	11,944	10,698	6,355	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amounts related to acquisition of businesses included in accounts payable and accrued expenses and other long-term liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Additions to property, plant and equipment included in accounts payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-697	281	92	1,084	3,412	2,736	2,558	2,132	2,205	2,139	1,339	2,071	247	476	2,206	484	0	0	0
Property purchase financed with debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,833	0	0	0