Masimo corp (MASI)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Jan'16Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10Mar'10
Cash flows from operating activities:
Net income

64,456

52,921

49,085

44,888

49,322

46,934

57,126

43,853

45,630

-7,735

35,853

45,138

51,533

225,724

27,773

30,023

27,577

25,053

17,929

18,696

19,822

21,786

16,134

13,952

22,491

9,185

15,486

14,648

16,402

14,841

13,563

17,768

15,766

14,166

14,824

16,909

18,154

16,631

16,694

13,916

26,164

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization

6,379

5,918

5,928

6,222

5,419

5,168

5,165

5,594

5,200

5,677

4,922

4,726

4,736

4,462

4,223

4,081

4,051

4,081

3,906

3,920

3,777

3,337

3,368

3,070

3,043

2,962

2,859

2,817

2,783

2,860

2,536

2,213

1,760

1,734

1,768

1,796

2,044

1,829

1,604

1,574

1,577

Stock-based compensation

11,272

9,588

10,855

11,473

7,317

7,722

7,646

6,717

5,332

5,995

5,050

3,253

2,889

2,810

3,489

3,177

3,027

2,693

2,703

2,535

2,894

3,221

2,576

2,607

2,601

2,654

2,630

2,977

3,413

3,064

3,196

4,033

3,804

3,509

2,593

4,141

3,433

3,416

2,569

3,500

2,818

Loss on disposal of property, equipment and intangibles

-49

-208

-56

-28

-65

-308

-9

-203

-429

-102

-55

-221

-144

-180

-77

-249

-152

-185

-171

-194

-58

-

-

-

-2

-681

-6

0

-78

-

-

-

-

-

-

-

-

-

-

-

-

Provision for doubtful accounts

94

9

56

388

234

840

-45

38

-394

251

193

-253

60

-

-

-178

127

-164

344

111

51

372

28

-49

232

196

218

172

142

236

211

1

-217

47

92

20

72

-21

-25

-79

233

Gain on deconsolidation of variable interest entity

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

273

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Provision for obsolete inventory

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

84

62

471

-

1,029

474

376

171

89

110

249

Provision for warranty costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

644

603

619

-

585

635

699

565

640

531

619

Benefit for deferred income taxes

0

-5,946

-40

52

-31

-1,527

-6,473

-274

0

-

-

-

-

5,147

1

2,304

2,697

-1,974

0

0

0

-3,246

0

0

2,926

-10,300

0

1,687

0

-

-

-

-

-

-

-

-

-

-

-

-

Income tax benefit from exercise of stock options granted prior to January 1, 2006

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5

20

24

98

159

424

12

79

121

82

56

360

232

307

751

-

-

-

555

Excess tax (benefit) deficit from share-based compensation arrangements

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-59

-46

31

-549

-255

-340

-164

-408

-55

-118

-167

9

-31

287

-198

213

-43

-846

1,383

Changes in operating assets and liabilities:
Increase in accounts receivable

17,105

1,883

9,992

3,174

8,531

6,558

2,825

-2,433

-17,776

2,495

15,183

-593

2,687

7,846

9,659

-8,527

12,266

4,852

1,927

5,898

-2,777

-1,664

-1,965

1,236

-2,469

6,803

3,342

-641

72

5,148

-2,172

3,658

3,496

3,533

1,583

170

2,263

344

223

2,963

7,375

Decrease in royalties receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-200

-200

70

-

-84

-32

183

366

-516

-4,520

-228

-

-

-

500

Decrease in inventories

-427

6,036

11,062

5,516

-1,357

816

2,144

64

-1,139

-2,340

10,739

8,234

7,381

3,863

4,795

-29

326

-11,260

1,695

1,972

88

7,128

4,690

2,904

-1,288

-2,621

3,654

7,311

1,109

-2,239

1,852

-2,082

1,930

-1,458

1,598

3,265

-2,489

1,798

6,380

3,522

2,388

Decrease in other current assets

-5,469

-3,524

4,913

10,190

-3,043

-19,449

13,912

1,490

204

-3,689

-5,026

10,996

3,125

-8,095

5,449

7,769

-307

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Increase in lease receivable, net

-1,747

-2,562

-3,158

-3,134

-3,104

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(Increase) decrease in deferred costs and other contract assets

796

5,593

-178

-1,603

-7,120

7,535

2,591

2,103

5,706

4,927

-3,696

5,228

7,643

-3,617

9,712

3,365

-1,799

-929

2,994

-1,779

-208

3,103

1,156

-263

2,687

494

3,382

2,977

2,741

569

-527

1,486

-1,119

205

-814

462

4,673

11,879

2,702

2,597

1,902

Increase in prepaid expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,778

667

425

-

2,563

3,356

-3,031

-3,585

3,416

5,071

-3,028

1,265

721

132

-1,375

(Increase) decrease in prepaid income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,748

104

-4,001

1,033

2,484

-2,832

-4,774

3,051

4,875

-1,492

-

-

-

-

-

-

-

-

-

-

-

-

Increase in other non-current assets

51

158

-109

62

115

89

-66

214

-644

7,246

4,396

7

-878

-2,572

-4,479

5,975

621

-778

-1,231

-1,572

6,464

-2,969

2,651

-2,075

4,217

2,533

-617

-32

-1,128

719

-580

-194

2,090

1,066

335

-255

356

-1,279

712

950

1,013

Decrease in accounts payable

-7,968

11,157

1,618

3,256

-6,097

1,121

2,270

-543

2,363

-7,805

610

1,668

1,470

1,662

1,443

7,604

339

560

3,199

-4,325

-3,053

234

-2,819

-4,671

5,881

-9,853

6,447

770

3,874

693

2,680

-6,678

1,268

7,305

-101

2,330

-4,375

-1,715

2,105

828

4,256

Increase (Decrease) in Accounts Payable, Related Parties

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Decrease in accrued compensation

-17,687

6,313

6,022

12,367

-19,364

8,276

4,690

8,303

-11,074

4,802

2,585

7,409

-19,088

6,485

3,127

8,697

-12,634

6,770

2,835

6,546

-10,817

3,767

6,912

1,265

-6,996

1,013

4,337

2,612

-3,405

2,483

3,510

1,032

-2,198

1,411

3,513

724

-6,981

1,569

3,402

894

-2,646

Increase (decrease) in accrued liabilities

1,704

357

3,355

-230

-2,736

-1,772

3,919

-417

2,193

4,889

-3,207

3,694

-94

-15,823

13,423

-12,875

-932

19,684

-4,287

-3,378

7,183

-3,609

9,811

2,222

-6,587

7,079

50

-1,064

341

2,119

510

140

170

3,516

-170

-110

-721

-1,547

557

-567

-724

(Decrease) increase in income tax payable

-2,041

649

1,321

-3,457

5,566

-1,618

1,305

-7,213

6,318

-910

319

-66,651

-4,845

-

-

-

-

-

-

-3,013

866

3,615

2,163

-1,761

156

836

44

-3,040

1,779

617

66

-4,626

4,141

-1,338

573

-2,879

3,555

-96

-37

-10,328

11,401

(Decrease) increase in deferred revenue and other contract-related liabilities

-676

979

1,194

3,189

2,377

-2,561

584

1,016

2,381

-2,256

-2,615

-4,381

-4,043

17,011

5,671

-164

5,427

-3,407

2,629

-1,113

1,949

-246

-2,894

2,410

929

1,113

-646

-102

1,102

360

272

1,535

683

1,006

-533

-1,555

161

1,321

-1,012

-1,726

4,429

Increase in other non-current liabilities

576

779

25

608

626

-1,226

-6,384

106

-73

26,557

471

-109

1,094

5,493

-2,803

3,523

352

-4,315

70

-409

67

363

218

-224

-130

-425

-648

18

213

-7

-652

-1,851

307

-40

447

293

361

1,052

-387

751

313

Net cash provided by operating activities

42,355

70,224

50,637

58,311

42,468

63,222

48,406

55,904

71,995

48,681

22,640

-29,157

13,898

331,095

31,339

37,888

18,803

61,473

27,110

9,497

19,126

28,790

27,998

14,599

24,226

6,893

15,807

7,302

25,101

18,165

25,789

7,921

23,248

24,891

19,281

18,605

16,180

7,222

15,945

1,795

36,058

Cash flows from investing activities:
Maturities (purchases) of short-term investments, net

-70,000

-

-

-

180,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of short-term investments

-

-

-

-

-

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

75,986

Proceeds from sale and maturities of short-term investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

75,986

56,989

Purchases of property and equipment, net

37,004

12,311

8,741

40,360

6,963

4,827

2,869

5,642

3,788

5,854

29,318

4,118

4,394

6,010

2,963

5,388

5,346

9,873

15,848

7,454

17,218

8,214

4,754

59,048

3,045

2,518

2,974

2,097

1,839

2,705

2,970

2,929

1,913

1,549

1,385

1,315

808

3,619

2,012

2,045

1,885

Increase in intangible assets

1,135

1,149

949

979

1,040

839

1,075

60

3,583

859

646

741

833

675

2,620

598

751

715

897

1,852

737

1,124

878

1,015

886

1,388

832

1,047

1,107

760

1,684

695

525

732

871

350

498

556

470

647

264

Business combination, net of cash acquired, and strategic investments

47,250

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deconsolidation, Variable Interest Entity, Reduction of Cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-763

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash paid for acquisitions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

30,249

-26

7,176

-

-

-

-

-

-

-

-

Net cash used in investing activities

-15,389

-13,460

45,121

-41,339

-188,003

-5,588

-7,491

-5,702

-7,371

-6,713

-31,109

-4,859

-5,227

-6,685

-5,783

-5,986

-6,860

-10,588

-16,745

-9,306

-17,955

-9,338

-5,632

-60,063

-3,931

-3,906

-3,806

-3,144

-2,946

-3,465

-34,903

-3,598

-9,614

-2,281

-2,256

-1,665

-1,306

-4,175

-2,482

73,294

-21,146

Cash flows from financing activities:
Proceeds from (Repayments of) Lines of Credit

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

45,000

-

42,500

65,069

-69

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayments under revolving line of credit

-

-

-

-

-

-

-

-

-

-

-

-

-

152,500

22,500

50,000

5,000

27,500

30,000

12,500

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of capital lease obligations

-

-

-

-

-

-

-

-

-

-

1

1

69

-

3

2

67

-1

4

77

0

6

10

18

77

20

16

12

84

14

-11

11

12

13

10

11

16

17

15

13

15

Proceeds from issuance of common stock

13,044

5,633

9,836

6,582

6,288

2,451

22,519

11,363

8,415

6,496

7,491

20,928

27,290

11,227

7,066

16,445

2,552

3,343

9,764

10,566

4,612

1,993

478

291

1,918

1,543

849

434

463

608

441

318

275

375

441

2,499

2,628

3,962

615

308

5,354

Payroll tax withholdings on behalf of employees for vested equity awards

1,424

-

0

0

123

-

0

0

168

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefit (deficit) from share-based compensation arrangements

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-59

-46

31

-549

-255

-340

-164

-408

-55

-118

-167

9

-31

287

-198

213

-43

-846

1,383

Dividends paid

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

44,472

0

0

117,506

Repurchases of common stock

371

9,631

70

27,854

0

0

0

-1

18,479

23,664

42,608

0

0

0

0

20,519

47,699

19,995

48,457

79,546

2,154

3,777

49,524

49,152

0

0

0

7,359

12,431

0

0

11,902

14,366

-

-

-

-

-

-

-

-

Net equity issuances (repurchases) by noncontrolling interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

342

1

0

3

0

0

4

-42

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by financing activities

11,249

-3,998

9,766

-21,272

6,165

2,129

22,519

11,364

-10,232

-17,168

-35,118

20,927

27,221

-141,276

-15,437

-54,697

-5,214

-21,309

-26,196

-16,960

2,392

-2,009

742

26,079

1,830

974

578

-7,277

-12,216

-56,591

485

-11,713

-14,270

-35,743

400

2,775

2,414

-40,314

557

-551

-110,784

Effect of foreign currency exchange rates on cash

2

1,797

-951

229

-261

-767

417

-1,422

-225

157

1,287

1,411

414

-1,069

-186

-1,051

855

-846

15

446

-2,296

-1,978

-1,212

-1,052

-62

-212

1,065

-383

82

457

100

59

-398

-177

73

375

11

165

416

280

-29

Net (decrease) increase in cash, cash equivalents and restricted cash

38,217

54,563

104,573

-4,071

-139,631

58,996

63,851

60,144

54,167

24,957

-42,300

-11,678

36,306

182,065

9,933

-23,846

7,584

28,730

-15,816

-16,323

1,267

15,465

21,896

-20,437

22,063

3,749

13,644

-3,502

10,021

-41,434

-8,529

-7,331

-1,034

-13,310

17,498

20,090

17,299

-37,102

14,436

74,818

-95,901