ITRON, INC. ITRI Cash Flow

Itron, inc. (ITRI)

CashFlow / Quarterly

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
Operating activities
Net income (loss)
9,162	14,270	18,177	20,117	-149	25,129	19,787	3,773	-145,270	2,374	26,854	15,007	16,014	12,669	-8,902	20,502	10,784	9,494	13,270	-13,614	5,853	-46,637	3,830	21,421	-914	-159,868	-6,758	12,196	3,496	16,464	35,897	32,291	25,572	-53,548	-515,337	35,563	27,126	30,271	27,639	25,311	25,250
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization
24,031	28,709	28,623	28,641	28,427	30,069	30,449	30,907	31,072	17,215	16,532	15,090	14,378	16,755	16,082	18,807	16,674	18,203	18,998	19,437	19,355	23,312	24,626	25,014	25,187	25,497	24,718	24,274	24,757	27,615	27,585	27,044	27,227	32,547	32,620	32,768	31,531	34,021	32,113	31,794	33,277
Non-cash operating lease expense
5,496	5,111	4,366	4,571	4,910	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Stock-based compensation
8,482	5,896	7,281	6,578	7,205	8,194	6,450	8,524	8,095	6,153	5,119	4,924	5,211	4,735	5,422	3,978	3,900	3,210	2,882	3,889	4,108	4,554	3,852	4,870	4,584	4,574	4,154	5,026	5,096	5,193	5,063	5,058	4,198	4,010	2,883	4,543	4,975	4,885	5,101	4,545	4,576
Amortization of prepaid debt fees
1,007	1,945	1,284	1,202	1,200	1,221	1,223	1,216	3,386	267	267	267	266	270	272	258	276	277	272	1,189	390	400	404	404	404	413	415	415	414	421	413	415	348	350	3,100	960	1,305	1,273	1,457	1,510	1,252
Amortization of convertible debt discount
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	2,693	2,643	2,594	2,548	2,501	2,456
Deferred taxes, net
-4,062	5,182	-2,914	-2,506	430	5,989	-2,178	-1,189	16,508	-43,052	-538	-6,195	-882	3,982	-8,066	-5,199	-4,507	13,256	-12,859	-6,817	4,932	21,689	3,569	6,796	2,703	7,818	5,947	2,316	9,227	8,280	-877	-697	69	11,575	7,491	1,488	-7,569	16,755	-6,895	-5,971	14,103
Goodwill impairment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	174,226	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Restructuring, non-cash
-955	362	3,148	-5,391	96	290	-55	577	47	-1,577	-800	80	0	2,035	5,284	-1,245	1,114	-42	1,128	0	-110	5,172	0	0	0	1,232	0	1	26	2	-6,328	1,487	0	-	-	-	-	-	-	-	-
Other adjustments, net
874	-1,826	2,650	3,515	-44	-1,482	1,235	-1,311	106	-562	-716	-1,449	-946	-5,043	368	432	-66	-126	-958	-582	-337	-794	-35	-53	-32	-1,013	786	-128	-196	70	108	874	-863	-873	69	-1,152	2,000	2,144	-702	-6,844	3,538
Changes in operating assets and liabilities, net of acquisitions
Accounts receivable
-1,185	82	10,264	-8,856	37,977	-7,750	5,030	-20,572	7,768	20,110	-4,569	15,151	-13,119	-5,490	-2,631	1,975	33,308	-5,184	5,552	8,878	-237	13,351	-12,772	29,726	-15,186	10,193	-26,203	12,640	-8,362	10,193	-38,447	12,779	-20,825	830	9,834	36,651	-24,545	-7,813	1,301	45,957	6,167
Inventories
543	-6,373	6,560	7,543	1,659	15,541	13,457	-3,638	253	-14,601	1,373	18,196	11,274	-19,136	-325	362	-3,244	-20,727	23,536	26,196	23,732	-30,293	6,940	3,696	12,449	-15,442	2,709	9,180	15,944	-32,872	1,833	-8,208	10,994	-39,139	-3,918	2,594	34,074	-16,281	16,768	13,177	27,753
Other current assets
4,526	20,634	-3,919	3,383	11,030	13,792	7,876	-6,928	8,849	-31,604	19,587	-7,264	11,169	-36,296	5,042	5,092	5,457	-13,510	-5,256	-1,634	7,888	5,793	1,386	9,606	-5,838	503	39	2,541	6,867	-1,473	7,862	6,402	7,261	-4,813	-12,596	9,210	12,058	-	-	-	-
Other long-term assets
6,501	892	-1,329	-6,282	-334	797	697	-5	-4,509	-770	-8,274	-1,540	-646	8,838	-5,832	278	-2,945	1,192	-656	104	3,081	-3,226	5,600	720	9,446	7,017	-230	-940	-3,549	-8,954	1,935	-2,251	-1,308	-98	-5,494	2,058	20,935	-	-	-	-
Accounts payable, other current liabilities, and taxes payable
135	13,240	-1,262	-15,113	12,312	15,607	21,488	-24,820	7,826	43,476	-1,874	8,584	28,277	-31,482	-5,095	-10,896	10,161	4,059	-35,084	20,205	3,760	36,053	7,308	-14,007	26,804	-16,118	21,932	4,349	-14,629	-7,999	-33,551	-8,770	2,953	10,368	-4,176	5,212	11,311	2,745	-4,324	11,688	30,775
Wages and benefits payable
-19,977	615	16,736	5,019	8,465	-11,731	1,404	-15,676	16,438	-4,292	-6,081	14,095	-1,796	-3,708	-3,193	5,360	9,349	-14,653	9,633	4,067	-9,913	3,663	2,483	3,448	-2,092	6,022	-2,183	885	-6,546	7,902	-5,625	2,114	-13,358	8,205	-6,487	7,852	-29,383	15,446	7,151	9,387	10,261
Unearned revenue
17,395	2,159	-8,215	6,726	8,235	-285	-3,287	7,839	23,317	-35,630	-12,380	-7,319	14,020	-17,126	-14,197	-8,830	14,343	5,407	-4,113	-3,933	14,582	-5,120	9,705	6,782	19,217	5,326	-7,079	-2,977	13,474	2,808	3,574	-4,113	9,740	-3,792	-1,297	8,466	15,693	458	-5,179	-10,250	12,615
Warranty
-4,250	-1,131	-2,236	-701	-2,569	17,648	-589	3,093	663	-269	-5,460	-2,522	-2,303	-346	-835	-5,020	-4,045	-46	-2,839	20,662	2,384	-2,737	-679	-3,539	-342	391	-5,140	301	-2,098	-2,309	-11,619	-8,634	-3,357	1,588	18,518	3,065	6,445	-1,879	2,180	13,890	465
Other operating, net
14,435	7,845	6,553	1,713	-7,510	16,883	249	7,749	-58,953	21,343	-5,743	1,120	3,960	2,986	-24,472	2,652	748	-2,188	-7,799	4,235	5,305	-4,295	-2,506	-6,528	2,545	-6,925	108	482	3,464	6,766	-1,618	-394	3,992	3,280	8,729	-1,406	-1,320	-8,423	438	14,612	-10,663
Net cash provided by operating activities
18,894	44,740	50,037	53,139	24,924	42,372	50,504	41,327	-24,448	76,853	21,057	30,187	63,257	33,961	30,754	17,322	33,805	53,196	2,587	21,522	-3,955	16,435	49,347	430	66,761	39,544	46,903	18,379	595	68,087	44,613	38,387	54,003	98,557	66,109	51,679	36,013	87,475	50,030	51,307	65,779
Investing activities
Acquisitions of property, plant, and equipment
12,602	16,179	18,059	15,096	11,415	17,459	13,184	11,876	17,433	16,002	11,595	12,776	9,122	12,980	10,679	11,093	8,791	10,594	12,332	11,520	9,472	12,435	12,657	10,839	8,564	15,472	15,653	14,130	14,765	16,265	10,731	11,504	12,043	14,277	17,087	17,462	11,250	17,315	17,791	11,565	16,151
Business acquisitions, net of cash equivalents acquired
-	-	-	-	-	0	587	0	802,488	538	-629	99,477	0	-	-	-	-	-	-	-	-	0	0	0	0	0	0	0	860	-857	269	78,745	860	5,457	0	-194	14,829	-	-	-	-
Other investing, net
-3,345	-2,592	-204	-9,474	-299	-550	-362	643	-100	-692	-466	378	78	1,776	284	1,532	-558	-176	148	-811	118	-3,192	249	111	-167	-404	-3,464	-185	-56	-110	-12	-3,710	-283	-793	-121	-208	-305	-1,136	-917	-1,393	-3,102
Net cash used in investing activities
-9,257	-13,587	-17,855	-5,622	-11,116	-16,909	-13,409	-12,519	-819,821	-15,848	-10,500	-112,631	-9,200	-14,756	-10,963	-13,576	-8,233	-10,418	-18,234	-10,709	-9,590	-9,243	-12,906	-10,950	-8,397	-15,068	-12,189	-13,945	-15,569	-15,298	-10,988	-86,539	-12,620	-18,941	-16,966	-17,060	-25,774	-16,179	-16,874	-10,172	-13,049
Financing activities
Proceeds from borrowings
400,000	0	0	20,000	30,000	17,000	0	56,000	705,938	300,000	0	35,000	0	-	-	-	-	23,758	15,526	11,183	63,000	47,657	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments on debt
0	37,344	28,125	28,125	44,063	31,062	90,063	59,839	182,395	4,219	4,219	17,812	2,813	50,088	2,813	2,812	23,406	32,812	7,813	0	22,373	33,688	17,500	20,625	30,625	20,625	30,625	3,750	18,750	13,750	33,750	53,752	13,750	43,750	748,674	2,711	52,919	48,639	32,643	21,044	52,837
Issuance of common stock
2,911	17,273	3,116	2,243	1,758	888	3,356	1,543	3,384	812	599	1,793	405	898	37	1,296	660	434	365	1,413	451	1,323	794	1,220	310	1,457	1,252	1,517	1,073	1,003	1,371	1,429	978	1,113	959	1,411	1,142	845	1,119	2,270	4,542
Repurchase of common stock
664	0	0	16,466	8,534	0	0	0	0	-	-	-	-	-	-	-	-	3,005	12,093	6,844	16,341	24,341	8,160	4,216	2,948	3,411	7,440	15,926	200	6,741	14,724	15,382	10,594	29,428	0	0	0	-	-	-	-
Prepaid debt fees
175	1,385	0	0	175	0	0	0	24,042	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Other financing, net
-335	-2,471	-2,056	-936	-2,229	639	-2,946	-1,534	-1,046	-8,803	264	797	155	986	1,021	-2,390	-2,289	-8,990	5,823	-5,128	1,186	-3,473	1,191	3,448	-2,244	1,225	-455	1,586	634	476	-71	-411	140	-1,277	-5,000	270	-589	80	-93	-2,141	-96
Net cash provided by (used in) financing activities
401,737	-23,927	-27,065	-23,284	-23,243	-12,535	-89,653	-3,830	501,839	287,790	-3,356	19,778	-2,253	-32,327	-1,755	-3,906	-25,035	-20,615	1,808	624	25,923	-12,522	-23,675	-20,173	-35,507	-21,354	-17,268	-1,573	-17,243	-9,012	-47,174	1,884	-23,226	-73,342	-82,715	-1,030	-52,366	-47,714	-31,617	-20,915	-48,391
Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash
-6,758	978	-1,270	655	72	-1,750	-1,334	-5,404	563	956	2,503	2,618	2,559	-4,693	1,330	-441	1,060	-603	-5,517	-707	-6,665	-4,774	-5,071	-854	-1,335	-364	939	-760	-2,633	1,160	2,223	-5,370	3,195	-2,702	-5,198	1,283	6,062	-2,219	9,204	-6,267	-2,814
Increase (decrease) in cash, cash equivalents, and restricted cash
404,616	8,204	3,847	24,888	-9,363	11,178	-53,892	19,574	-341,867	349,751	9,704	-60,048	54,363	-17,815	19,366	-601	1,597	21,560	-19,356	10,730	5,713	-10,104	7,695	-31,547	21,522	2,758	18,385	2,101	-34,850	44,937	-11,326	-51,638	21,352	3,572	-38,770	34,872	-36,065	21,363	10,743	13,953	1,525
Non-cash transactions:
Property, plant, and equipment purchased but not yet paid
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-5,035	394	6,890	3,637	842	-4,892	9,256	9,869	-4,108	3,117	-2,139	-	-	-	-
Supplemental disclosure of cash flow information:
Fair value of contingent and deferred consideration payable for business acquisition
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	5,108	-	-	-	-
Income taxes, net
-5,370	3,199	2,271	3,330	3,241	7,404	2,941	1,928	1,498	3,546	10,943	13,256	1,224	7,080	6,662	6,865	3,680	6,611	1,345	1,988	19,245	9,694	5,026	4,393	-891	7,842	2,617	5,529	2,671	7,431	13,195	9,903	10,270	15,224	6,062	4,162	2,680	12,695	8,092	6,359	2,996
Interest
14,804	5,265	16,190	6,705	16,628	7,808	19,156	8,505	6,878	2,477	2,608	2,599	2,422	2,329	2,528	2,440	2,624	2,649	2,551	2,733	2,265	2,376	2,625	2,451	2,460	2,750	2,472	1,937	1,867	2,150	2,111	2,187	2,088	2,083	10,037	6,432	9,495	7,649	10,488	8,552	12,626