Mks instruments, inc. (MKSI)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'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 provided by operating activities:
Net income

69,100

42,764

47,428

37,694

12,500

71,636

93,277

122,862

105,121

77,638

75,994

120,440

65,060

45,487

32,549

9,210

17,563

25,522

29,769

33,220

33,786

34,192

29,117

21,224

31,245

20,237

2,458

7,320

5,761

4,109

2,580

18,572

22,768

22,714

30,373

38,601

38,043

35,949

38,636

38,777

29,225

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

28,400

30,171

27,208

27,455

25,200

19,947

19,529

19,885

20,492

20,006

20,129

20,588

21,833

22,169

22,049

16,430

5,278

5,497

5,524

5,550

5,532

5,757

5,792

4,815

4,150

4,387

4,245

4,378

4,092

-

-

-

3,143

3,339

3,267

3,197

3,177

3,204

3,582

3,207

3,830

Amortization of inventory step-up adjustment to fair value

-

0

0

2,524

5,100

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of debt issuance costs, original issue discount, and soft call premium

1,100

520

3,601

1,753

1,200

934

897

868

2,019

4,314

2,643

1,027

2,715

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Stock-based compensation

8,500

7,054

7,373

6,967

27,800

5,257

5,213

6,366

10,426

4,544

4,845

6,207

8,782

5,402

5,158

10,516

4,152

2,988

3,247

3,566

3,212

2,564

2,753

2,800

3,198

2,483

2,700

5,011

3,798

3,131

2,821

3,779

3,300

2,628

2,549

2,956

3,092

3,890

2,404

2,173

2,137

Provision for excess and obsolete inventory

6,200

6,135

6,546

6,953

5,100

6,749

5,283

4,959

5,333

4,864

4,347

5,971

5,031

4,994

4,308

3,789

2,948

4,367

2,900

3,652

2,683

3,424

3,175

2,919

2,613

5,117

9,182

4,211

3,161

2,432

4,219

4,114

4,263

3,933

4,466

3,392

3,066

4,426

3,878

3,001

1,925

Provision for doubtful accounts

200

-954

917

-291

-400

576

263

261

335

175

139

195

316

942

82

68

17

103

-253

67

-172

-

-

-

94

-430

44

48

969

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes

600

4,852

-6,442

-225

-2,400

-15,863

-4,695

1,875

-705

-11,472

-1,157

9,607

-1,809

-29,255

-10,948

1,034

347

2,563

-2,495

-394

736

4,790

-922

5,370

-3,974

-6,712

778

1,617

1,228

760

880

1,147

1,032

4,465

599

-508

2,993

-1,618

9,435

1,774

506

Excess tax benefits from stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

790

226

219

233

20

15

345

524

31

68

159

189

110

11

615

199

107

3

1,338

657

56

64

186

5,032

282

1,190

560

80

Asset impairments

1,200

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

100

-

-

-

-

-2,118

-71

-426

-34

8

-36

-711

-85

-131

-53

-4

-68

-27

-45

-202

-1

-115

0

-165

141

-27

-189

-17

33

569

-124

46

-532

385

-204

-588

289

-60

-102

1,519

-797

Changes in operating assets and liabilities, net of business acquired:
Trade accounts receivable

42,500

9,377

17,879

-23,163

-4,000

-22,579

-19,386

5,175

37,336

17,588

10,588

686

15,215

13,603

8,634

25,790

10,084

-13,758

-7,363

-243

19,030

3,149

6,590

-18,626

2,784

18,451

1,357

5,997

10,348

-4,296

-19,408

-26,801

12,217

-4,412

-24,464

-5,885

16,838

-17,834

2,380

17,144

40,850

Inventories

20,300

3,494

-5,026

20,521

10,300

-6,662

20,912

31,352

28,177

21,220

17,195

22,342

11,714

8,721

8,945

-4,712

844

-10,718

6,748

5,654

12,817

8,613

2,672

4,402

7,402

11,848

7,015

10,587

347

-6,234

-151

1,622

-578

-3,159

1,976

6,896

5,984

8,053

16,134

17,373

10,907

Income taxes

1,000

-11,614

3,181

-241

-3,700

2,444

-2,458

-20,238

8,822

-2,841

-6,272

13,851

8,067

10,496

13,998

4,104

2,316

-18,923

4,057

4,370

2,034

-7,879

-6,630

-12,773

-5,462

20,554

7,532

-392

-3,253

-3,841

3,670

693

-3,648

-8,640

2,930

12,526

-12,161

-23,693

4,416

7,051

-10,570

Other assets

-10,100

-

-

-

-4,800

-

-

-

-

-

-

-

-

-

-

-

189

-

286

7,956

-7,801

-

214

-1,220

1,143

-1,564

14

-1,606

1,801

-

-

-

-3,519

-2,142

-69

8,837

1,048

-2,049

1,057

551

145

Other current and non-current assets

-

-

-

-

-

-16,013

13,335

3,375

942

-1,083

6,935

580

2,199

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other current assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,562

-

1,971

935

5,029

-

-685

2,463

1,286

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued compensation

-19,300

-

4,359

5,092

-22,900

-

404

16,598

-32,531

-

11,219

16,625

-16,786

6,505

4,069

7,477

-7,086

-284

6,058

2,491

-4,930

516

5,583

-12,790

-6,872

7,028

6,693

2,227

-2,271

-

-

-

-

-

-

-

-

-

-

-

-

Other liabilities

8,000

-11,440

3,289

-673

400

-12,882

-978

-632

10,544

-4,487

17,547

3,888

1,082

-887

5,561

-8,711

7,718

-7,354

-2,305

4,127

2,735

-6,435

5,386

2,006

2,512

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other current liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-2,613

-

-

-

-

-

-

-

-

-

-

-

-

Accrued compensation and other liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

8,696

-993

-187

4,326

-4,036

7,461

-4,847

-

-

-

-

Accrued expenses and other current liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

10,581

Accounts payable

22,700

-160

674

-7,366

-17,300

2,408

-5,989

-3,717

9,321

4,334

4,211

2,051

809

2,070

6,653

2,685

4,772

-3,087

-7,516

-3,613

3,587

3,690

4,370

-8,882

-4,656

12,704

2,787

3,169

4,512

469

-7,385

924

-2,289

2,316

-11,065

-1,171

-1,726

-1,012

-1,727

3,237

10,722

Other non-current assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

193

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by operating activities

74,900

77,247

60,658

77,504

29,100

135,458

95,956

109,611

72,756

80,786

98,963

109,416

66,057

52,721

75,607

28,589

23,181

42,725

37,374

38,591

19,605

34,214

39,886

17,911

9,903

34,305

36,136

3,183

2,463

23,319

31,853

54,562

27,433

51,392

45,920

31,956

26,768

87,218

37,079

22,456

16,717

Cash flows provided by (used in) investing activities:
Acquisition of business, net of cash acquired

-

0

0

-1

988,600

-

-

-

-

-

-

-

-

-

-

-

-

0

0

43

9,867

-

-

-

-

0

268

95

1,963

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of investments

30,200

74,999

53,397

73,719

44,200

39,824

64,958

99,063

49,753

30,545

129,430

27,290

42,292

152,383

16,814

17,126

82,135

67,659

53,759

100,254

164,327

53,458

76,062

102,769

128,524

175,078

148,621

137,852

88,525

72,921

163,464

98,319

101,257

115,920

162,283

93,853

103,721

173,526

125,258

38,297

73,470

Proceeds from sale of property, plant and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

170

35

0

2,113

Maturities of investments

49,500

49,227

52,958

21,786

18,600

46,410

44,605

41,138

49,596

40,563

31,545

29,562

55,672

12,311

34,350

37,284

76,972

48,281

42,147

50,652

38,205

37,974

56,880

49,882

104,623

164,335

96,925

72,161

84,145

152,196

36,519

19,110

105,473

-

-

-

-

-

-

-

-

Sales of investments

28,700

4,500

4,705

3,210

154,500

139,674

4,505

54,433

8,930

9,993

18,252

4,140

21,179

1,404

1,316

208,026

128,250

25,939

7,491

10,815

17,414

3,175

27,019

130,044

24,948

20,348

43,337

44,872

2,371

-80,369

5,487

105,500

15,941

-

-

-

-

-

-

-

-

Proceeds from sale of assets

-

865

41,179

-65

100

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Maturities and sales of investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

118,475

40,430

152,514

-

71,549

22,736

81,808

Purchases of property, plant and equipment

10,000

19,151

16,499

13,754

14,500

26,056

15,067

12,428

9,390

13,430

8,118

5,640

4,099

7,164

4,695

5,108

2,156

3,583

3,497

2,830

2,504

3,821

2,107

4,157

3,098

3,256

2,794

3,004

3,356

6,665

3,028

3,445

4,567

5,876

3,426

3,934

2,331

4,389

4,803

3,353

3,274

Other

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-5

-1,540

82

-56

-79

157

0

189

-130

1,104

321

-120

146

-25

300

135

31

2,590

-377

1,628

-190

Net cash provided by (used in) investing activities

38,000

-39,558

28,946

-62,541

-874,100

120,204

-30,915

-15,920

-617

6,647

-87,751

73,281

30,460

-145,599

14,197

-716,515

120,931

2,978

-7,610

-41,665

-121,074

-16,098

7,156

-13,894

-1,972

6,192

-11,421

-24,107

-7,198

-7,085

-149,192

22,966

15,444

52,517

-47,534

-57,492

46,431

-49,929

-57,616

-5,445

7,367

Net proceeds from borrowings

12,100

27

1,241

2,339

638,600

7,045

23,635

25,082

11,907

15,393

4,521

7,901

736

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on borrowings

62,200

-

-

-

200

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net payments related to employee stock awards

-20,400

718

-716

-2,012

-9,000

2,537

-589

-4,131

-8,921

2,503

-1,306

-10,519

-2,894

1,186

-187

-334

-2,587

2,062

324

981

-2,105

2,035

446

-751

762

2,000

-38

-1,175

-1,251

2,394

258

-1,107

19

2,219

1,665

1,990

22,672

5,115

-856

-328

2,593

Proceeds from short-term borrowings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

6

0

0

0

2,896

14,462

13,936

10,416

2,988

7,826

39,588

32,341

39,454

Payments of short-term borrowings

-

-

-

-

-

9,298

29,806

17,785

10,274

16,434

4,016

7,863

1,398

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,392

185

370

4,401

13,821

13,303

11,329

1,462

17,036

43,517

29,602

42,717

Payments of long-term borrowings

-

-

-

-

-

1

2

0

50,000

50,000

125,000

1,571

51,570

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repurchases of common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1,545

-

-

-

-

0

0

19,864

945

0

0

1,207

1,668

4,475

2,066

1,239

3,721

-

-

-

-

-

-

-

-

Dividend payments

11,000

10,907

10,898

10,923

10,800

10,797

10,858

10,942

9,808

9,775

9,500

9,484

9,419

9,112

9,108

9,085

9,056

9,041

9,060

9,084

8,784

8,770

8,755

8,773

8,553

8,517

8,507

8,503

8,448

8,425

8,455

7,929

7,877

7,875

7,870

7,865

7,763

-

-

-

-

Excess tax benefit from stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

790

226

219

233

20

15

345

524

31

68

159

189

110

11

615

199

107

3

1,338

657

56

64

186

5,032

282

1,190

560

80

Net cash (used in) provided by financing activities

-81,500

-13,857

-64,618

-63,947

618,600

-10,514

-92,620

-7,776

-67,096

-58,313

-135,301

-21,536

-64,545

-41,546

-72,891

687,512

-12,955

-11,387

-13,246

-12,099

-10,365

-6,704

-8,219

-27,727

-10,071

-6,407

-8,534

-11,046

-11,162

-14,791

-10,445

-9,307

-12,427

-6,491

-5,983

-6,602

21,467

-3,813

-3,595

8,157

-5,776

Effect of exchange rate changes on cash and cash equivalents

-4,000

-

-

-

100

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Effect of exchange rate changes on cash and cash equivalents

-

-

-

-

-

-653

-2

628

1,958

-1,327

2,071

5,765

-4,696

1,460

-4,314

-3,166

-876

-1,889

310

779

-890

-1,431

-6,156

-591

328

34

2,873

986

-4,983

1,177

3,536

-4,678

2,307

-613

-2,830

-531

2,065

-991

2,601

-1,951

-1,012

Increase (decrease) in cash and cash equivalents

27,400

28,291

19,346

-51,110

-226,300

244,495

-27,581

86,543

7,001

27,793

-122,018

166,926

27,276

-132,964

12,599

-3,580

130,281

32,427

16,828

-14,394

-112,724

9,981

32,667

-24,301

-1,812

34,124

19,054

-30,984

-20,880

2,620

-124,248

63,543

32,757

96,805

-10,427

-32,669

96,731

32,485

-21,531

23,217

17,296

Supplemental disclosure of cash flow information: