MICROCHIP TECHNOLOGY INCORPORATED MCHP Cash Flow

Microchip technology incorporated (MCHP)

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	Dec'09	Sep'09	Jun'09
Cash flows from operating activities:
Net income
99,900	311,100	108,900	50,700	174,700	49,200	96,300	35,700	146,700	-251,000	189,100	170,600	136,869	107,175	33,919	-113,363	67,330	61,211	64,899	130,460	98,580	84,798	92,038	89,909	111,495	105,401	99,806	78,579	59,690	10,173	-21,184	78,710	80,636	77,489	79,287	99,293	125,528	100,776	103,080	89,566	75,749	69,403	44,485	27,368
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
310,900	300,000	297,600	307,100	238,700	243,900	221,000	172,800	156,900	154,600	152,600	151,800	128,275	114,968	112,816	113,141	75,538	76,178	71,109	60,375	73,186	73,303	70,821	60,988	45,435	45,242	48,052	50,410	63,629	64,012	51,211	25,245	24,254	24,642	25,177	25,351	26,459	27,177	27,537	25,439	22,322	22,437	22,639	22,659
Deferred income taxes
-86,100	-293,300	-94,100	-16,800	-33,100	42,500	-158,800	87,200	-16,400	114,500	-25,000	-21,900	-74,685	-34,395	-50,726	32,906	-49,284	24,883	-18,490	-17,509	-38,606	10,292	-2,178	-2,319	-18,869	12,318	6,574	5,298	-18,387	-556	-12,352	2,927	14,769	99	358	6,728	6,623	4,086	4,221	9,073	4,775	11,294	-910	7,171
Share-based compensation expense related to equity incentive plans
40,700	43,500	45,300	40,700	38,900	39,600	42,600	45,300	23,200	24,000	23,600	22,400	22,011	22,120	24,390	59,579	17,297	16,965	23,026	14,112	15,183	14,819	15,273	13,321	12,412	13,719	15,000	12,656	13,356	14,120	14,607	9,986	9,819	9,962	9,484	9,024	9,027	9,409	8,925	9,451	9,443	8,837	9,500	8,998
Excess tax benefit from share-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	65	328	144	263	116	118	982	0	1,411	0	0	0	143	42	92	20	135	39	17	385	614	1,240	0	0	-	-	-	-
Loss on settlement of debt
-3,400	0	-100	-1,900	-8,300	-200	-4,100	0	0	-2,200	0	-13,800	-43,900	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Convertible debt derivatives - revaluation and amortization
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	201	264	-16	115	336	-259	-330	223	-61	-396	30	-7	249	-156	99	-384	2	305	-153
Amortization of Debt Discount (Premium)
30,800	30,700	30,300	29,900	29,400	28,900	28,600	27,700	27,100	26,700	26,400	25,900	19,193	12,494	12,307	12,106	12,091	12,163	11,974	11,772	7,480	2,501	2,445	2,365	2,288	2,286	2,235	2,161	2,091	2,089	2,042	1,975	1,932	1,909	1,866	1,805	1,746	1,745	1,706	1,650	1,596	1,595	1,559	1,508
Amortization of Debt Issuance Costs
4,300	4,300	4,300	4,200	4,400	4,600	4,700	2,800	1,600	1,700	1,700	1,600	1,318	1,064	1,061	1,057	1,084	996	962	958	831	544	544	544	543	544	545	327	53	55	55	54	54	55	55	55	54	55	55	55	-87	55	193	54
Losses on equity method investments
0	0	0	0	0	-100	0	-100	0	-100	0	-100	-33	-55	-56	-56	-11	-56	-56	-177	-188	-62	-35	-32	34	150	-101	-260	-235	-229	-32	-121	-135	14	-13	-61	-28	280	-43	-52	0	0	0	0
Gains on sale of assets
-	-	-	-	-	-	-	-	500	0	800	4,600	22	3	14	61	40	100	300	560	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	0	50	-49	88	200	-100	0	0
Impairment of Intangible Assets (Excluding Goodwill)
1,700	0	0	500	0	0	1,100	2,000	200	100	100	100	1,674	8,242	0	1,984	23	47	530	0	20	1,305	150	406	0	0	350	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment of available-for-sale investments
-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Losses on write-down of fixed assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-961	-48	-269	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
(Gains) losses on available-for-sale investments and marketable equity securities, net
-	-	-	800	-	-	-	-5,200	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Realized losses (gain) on available-for-sale investments
-	-	-	-	-	-	-	-	-	-	-	-	-	0	-7	-82	-354	95	-41	14,000	18,469	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Realized gain on equity method investment
-	-	-	-	-	-	-	-	-	-	-	-	-68	0	0	468	-25	0	0	2,225	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of premium on available-for-sale investments
0	0	0	0	0	0	0	200	200	100	-100	-500	5	-5	13	-13	-1,770	-2,498	-2,336	-2,396	-2,388	-2,495	-2,477	-2,589	-2,687	-2,499	-2,627	-2,941	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other non-cash adjustment
-	-	-	-100	-	-	-	-100	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-540	762	1,629	-1,392	-4,400	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Unrealized impairment loss on available-for-sale investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,055	-204	-2,064	-945	-3,396	-422	-388	-453	-6,920	528	376	1,266
Sales of trading securities, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	31,755	55,215
Special charges
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	1,238
Gain on shares of acquired company
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	14,850	0	-1,940	-5,485
Changes in operating assets and liabilities, excluding impact of acquisitions:
(Increase) decrease in accounts receivable
126,500	-41,100	-88,300	56,200	-49,400	-124,000	-120,600	55,200	10,500	7,800	16,400	50,600	3,249	18,119	15,531	9,901	42,127	-34,857	-8,266	3,096	31,342	-44,878	-7,818	37,247	18,132	-6,317	-1,769	2,462	52,453	-52,955	-2,698	2,814	20,080	6,868	-53,845	15,052	-9,357	-15,487	9,255	9,248	74,316	-7,112	-8,607	-9,519
Decrease (increase) in inventories
-23,200	-25,800	-300	20,500	2,900	-83,000	-177,700	-83,800	-11,000	30,100	30,200	9,900	-3,026	-4,724	-94,848	-121,102	-13,427	-39,370	-19,296	23,893	3,167	3,368	-7,061	-24,991	-12,088	-1,515	18,146	13,957	-18,721	-24,812	-22,018	-316	-1,057	6,223	8,690	21,384	1,289	10,744	5,716	4,319	-34,455	-3,834	5,346	17,704
Increase in deferred income on shipments to distributors
-	-	-	-	-	-	-	-	-1,900	11,400	15,500	16,000	-1,427	71,063	10,025	29,739	19,888	-16,380	12,091	1,401	11,864	-5,321	13,002	-1,215	4,483	-7,734	1,232	10,865	16,341	-511	953	2,084	-7,077	-28,399	-1,413	5,554	-2,641	10,403	24,212	6,807	1,358	11,322	2,830	-500
Increase (decrease) in accounts payable and accrued liabilities
64,700	-44,900	-58,100	49,700	-37,200	-105,700	-35,600	-2,200	-55,700	15,900	-5,300	31,200	7,461	-244	-4,017	-18,000	18,034	-12,991	-47,600	16,157	5,009	-23,184	-11,402	-4,415	10,237	-19,864	-5,915	3,909	17,625	-30,869	-32,436	4,766	5,743	-16,898	-32,513	-17,787	18,641	-22,607	1,844	1,484	14,983	3,463	18,329	-7,192
Change in other assets and liabilities
9,200	3,000	15,300	-14,400	39,400	-40,300	-63,500	88,600	1,500	-16,200	-12,300	13,000	-44,480	5,139	1,371	12,270	-27,199	33,688	-1,364	-5,225	-4,773	18,453	5,056	-15,839	-38,886	10,392	-5,214	-14,977	43	-73,462	35,171	5,291	-23,110	1,123	24,890	-10,873	-43,785	4,287	884	3,042	3,094	-15,622	2,874	-5,265
Change in income tax payable
18,000	-22,900	-11,500	-24,100	-27,300	-70,200	-79,400	-13,900	64,000	286,500	6,400	11,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating cash flows related to discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-48	-966	4,318	5,996	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Net cash provided by operating activities
371,700	395,500	396,000	380,600	403,400	481,500	487,500	302,400	359,500	365,000	350,100	345,000	322,608	290,802	222,123	223,967	202,509	210,477	149,886	181,528	178,510	184,838	192,046	165,788	203,341	148,300	157,551	167,372	127,883	139,211	63,300	128,971	117,980	55,939	154,754	83,305	152,537	138,677	158,129	133,318	108,028	100,927	128,025	115,067
Cash flows from investing activities:
Purchases of available-for-sale investments
0	2,000	0	0	0	0	0	167,700	256,700	458,700	392,000	487,400	465,153	35,122	0	25	31,036	430,775	541,588	570,501	237,457	371,263	178,092	172,506	386,922	234,795	336,364	379,401	342,249	213,622	413,976	29,130	187,026	296,404	340,822	324,893	148,749	62,430	553,668	243,209	264,098	760,552	418,115	133,279
Maturities of available-for-sale investments
0	0	0	0	2,300	-200	9,200	66,700	266,700	157,000	253,000	110,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Sales of available-for-sale investments and marketable equity securities
4,700	0	0	0	0	0	0	1,376,600	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Sales and maturities of available-for-sale investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	470,551	-	397,716	362,325	433,446	275,905	274,123	225,834	321,203	367,110	213,380	188,192	182,614	338,872	167,114	211,154	139,439	190,262	230,793	297,960	264,485	216,291	145,235	367,860	325,900	418,981	551,112	317,067	214,967
Sale of equity method investment
-	-	-	-	-	-	-	-	-	-	-	-	1,232	0	0	468	33	0	0	2,667	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments to Acquire Businesses, Net of Cash Acquired
0	0	0	0	0	0	-600	7,851,200	0	0	0	0	-2,747,516	0	0	2,747,516	343,900	0	0	0	0	0	-375,365	375,365	0	0	0	0	-20,556	0	0	20,556	38,580	0	0	0	-99,687	0	0	112,707	0	0	0	0
Investments in other assets
31,000	26,900	11,000	2,600	5,800	3,900	7,300	1,600	1,700	1,600	1,800	2,000	603	6,365	2,467	765	1,139	2,980	1,215	1,766	1,389	1,615	2,536	1,123	1,607	4,511	1,335	1,616	712	1,814	595	1,609	-1,060	1,732	4,170	976	1,724	13,410	1,291	142	9,464	1,082	3,991	902
Acquisition of ISSC, net of cash acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-11,187	9,013	0	2,174	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of additional controlling interest in ISSC
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-51	0	0	18,051	9,161	21,169	1,765	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale of assets
2,700	0	300	200	0	100	0	100	0	100	0	10,200	-69	23,003	14	52	4	0	13,669	627	0	0	0	0	35	0	0	16,200	0	240	16	50	199	164	48	0	1,109	2,129	10,000	18,430	0	100	0	0
Capital expenditures
11,900	14,100	17,700	23,900	40,100	27,400	72,000	89,400	58,400	66,400	59,800	22,200	22,962	15,692	18,152	18,494	16,477	17,869	29,943	33,611	29,458	36,642	38,735	44,637	33,536	24,330	27,449	27,757	14,742	9,864	15,908	10,304	3,788	6,133	25,230	27,219	24,340	34,177	31,834	34,103	19,188	18,683	5,977	3,756
Net cash used in investing activities
-35,500	-43,000	-28,400	-26,300	-43,600	-31,400	-69,500	-6,666,500	-50,100	-369,600	-200,600	-391,400	-487,504	-34,176	-20,591	-2,295,729	1,582,177	-53,908	-540,680	-187,189	-1,560	-156,566	-247,763	-272,428	-54,920	-59,269	-176,956	-212,134	-18,831	-57,946	-951,055	77,890	-37,873	-73,312	-72,214	-88,603	29,567	37,347	-208,933	-45,831	67,829	-229,105	-111,016	77,030
Cash flows from financing activities:
Proceeds from issuance of 2023 and 2021 Senior Notes
0	0	0	0	0	0	0	1,989,500	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of revolving loan under previous credit facility
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	650,000	-	50,000	80,000	0	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of revolving loan under new credit facility
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	83,500	70,000	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from borrowings on revolving loan under previous credit facility
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	30,000	-	60,000	680,000	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from borrowings on Term Loan Facility
-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	350,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from borrowings on loan facility
-	-	-	-	-	-	-	-	-	74,000	53,000	60,000	-	132,000	105,000	1,280,000	1,087,000	93,000	879,500	145,000	1,087,319	139,400	128,500	504,375	300,000	93,500	100,000	260,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of long-term borrowings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	336,875	4,375	4,375	4,375	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of loan facility
-	-	-	-	-	-	-	-	-	74,000	53,000	60,000	-	127,000	349,500	602,000	-	381,000	80,000	110,000	-	119,400	138,500	170,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of debt assumed in Microsemi acquisition
0	0	0	0	0	0	0	2,056,900	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred financing costs
7,100	0	1,800	0	0	0	100	72,600	0	400	800	0	-	-	-	-	44	1,750	0	406	32,846	0	0	0	0	0	0	7,515	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Payment of cash dividends
88,000	87,700	87,300	87,100	86,600	86,400	85,900	85,500	85,100	85,000	84,500	82,900	82,553	77,970	77,640	77,237	73,161	72,923	72,685	72,331	72,047	71,787	71,442	71,202	70,882	70,554	70,086	69,682	69,230	68,697	68,146	67,749	67,259	66,813	66,206	65,900	3	129,447	63,908	63,453	62,962	62,520	62,083	61,991
Proceeds from sale of common stock
20,000	11,300	20,200	7,300	15,700	6,600	13,900	6,400	15,400	7,000	15,100	4,500	13,307	3,441	20,822	4,630	10,784	4,396	10,023	3,497	13,604	6,794	9,910	4,125	17,569	9,629	20,274	12,614	28,746	6,301	11,357	4,961	17,047	14,743	7,395	18,272	20,593	29,078	14,959	7,310	17,900	9,603	8,431	544
Tax payments related to shares withheld for vested restricted stock units
17,900	23,600	15,200	11,400	14,800	20,100	20,100	16,800	10,300	12,900	10,500	10,700	10,239	12,318	10,660	25,183	4,499	6,077	6,660	4,464	5,228	3,970	5,338	4,968	4,875	7,073	4,978	5,714	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Capital lease payments
200	200	200	200	200	200	300	100	200	200	200	200	213	196	196	195	96	170	168	166	154	152	150	148	141	135	134	44	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefit from share-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-35	328	144	263	116	118	982	0	1,411	0	0	0	143	42	92	20	135	39	17	385	614	1,240	0	0	-	-	-	-
Net cash (used in) provided by financing activities
-332,300	-357,200	-399,800	-348,900	-363,400	-477,600	-593,500	6,098,000	-80,200	-149,700	-96,100	-89,300	409,702	-82,043	-312,174	580,015	-23,422	-364,196	366,325	-38,607	-25,474	-53,372	-80,413	257,807	-56,918	-58,133	-39,624	-80,341	-46,011	-52,354	543,303	-62,768	-50,077	-52,031	-58,794	-47,243	21,204	-99,129	-48,949	-56,143	-45,018	-51,576	-52,943	-61,447
Effect of foreign exchange rate changes on cash and cash equivalents
-	-	-	-	-	-	-	-	-	-	-	-	7	-633	104	-478	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net decrease in cash and cash equivalents
3,900	-4,700	-32,200	5,400	-3,600	-27,500	-175,500	-266,100	229,200	-154,300	53,400	-135,700	244,813	173,950	-110,538	-1,492,225	1,761,264	-207,627	-24,469	-44,268	151,476	-25,100	-136,331	151,167	91,503	30,898	-59,029	-125,103	63,041	28,558	-343,113	144,093	30,030	-69,404	23,746	-52,541	203,308	76,895	-99,753	31,344	130,839	-179,754	-35,934	130,650
Non-cash activities:
Right-of-use assets obtained in exchange of lease liabilities
-300	7,800	17,300	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating lease payments in operating cash flows
7,200	26,200	-1,700	14,800	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Term Loan Facility
Proceeds from borrowings on loan facility
0	0	0	0	0	0	0	3,000,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of loan facility
0	0	0	188,000	801,500	20,000	267,000	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Revolving Credit Facility
Proceeds from borrowings on loan facility
344,000	255,000	223,000	204,000	691,000	93,000	147,000	3,485,500	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of loan facility
580,000	512,000	538,500	273,500	167,000	450,500	381,000	151,500	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-