Marvell technology group ltd (MRVL)
CashFlow / Quarterly
Feb'20Nov'19Aug'19May'19Feb'19Nov'18Aug'18May'18Feb'18Oct'17Jul'17Apr'17Jan'17Oct'16Jul'16Apr'16Jan'16Oct'15Jul'15Apr'15Jan'15Oct'14Jul'14Apr'14Jan'14Oct'13Jul'13Apr'13Jan'13Oct'12Jul'12Apr'12Jan'12Oct'11Jul'11Apr'11Jan'11Oct'10Jul'10Apr'10Jan'10Oct'09Jul'09Apr'09
Cash flows from operating activities:
Net income (loss)

1,772,673

-82,501

-57,331

-48,450

-260,698

-53,767

6,759

128,612

48,763

200,188

165,259

106,621

-80,091

72,616

51,305

-22,679

4,200

-57,750

-771,940

14,090

81,693

115,304

138,870

99,479

97,129

103,156

61,826

53,209

50,152

68,816

93,074

94,543

80,717

195,121

192,392

146,861

222,853

255,732

219,777

205,767

204,821

201,599

58,493

-111,457

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

29,911

40,508

41,941

44,298

37,627

39,259

26,754

20,343

20,918

21,383

20,444

20,742

26,683

27,188

26,866

27,114

22,800

25,565

25,191

26,620

26,464

26,515

26,263

27,006

26,176

25,913

25,697

24,966

26,227

22,317

21,285

21,199

21,801

20,179

22,437

24,037

24,199

23,140

22,773

23,078

24,238

24,571

25,030

25,375

Share-based compensation

53,171

66,762

63,676

58,598

50,580

50,240

59,392

23,852

21,377

18,873

22,422

24,017

24,058

28,263

37,196

24,453

32,419

31,465

36,674

33,221

37,963

34,294

35,020

29,969

38,068

43,201

41,091

33,513

36,486

30,374

33,228

27,192

31,417

30,611

30,355

27,480

31,279

29,541

30,689

26,896

30,559

34,377

30,015

31,648

Amortization and write off of acquired intangible assets

114,600

92,800

81,000

79,700

78,700

78,661

25,939

0

388

1,076

1,065

1,071

1,965

2,784

2,946

2,946

2,947

3,635

3,053

3,053

3,585

3,789

3,789

7,174

12,037

10,645

10,638

10,686

12,268

13,054

13,023

14,355

12,723

11,155

11,138

14,341

14,005

21,770

21,214

22,549

24,282

26,450

26,446

30,356

Amortization of deferred debt issuance costs and debt discounts

2,723

1,181

1,178

1,681

2,064

2,217

7,073

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Restructuring related impairment charges (gain)

-

-

-

-

-

-

-

-

-4,159

44

70

-516

-

-

-

896

289

14,270

900

573

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain from investments in privately-held companies

-

-

-

-

-

-

-

-

-

1,751

750

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of premium /discount on available-for-sale securities

-

-

-

-

-

-

-

-

-

200

-597

-206

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Fair market value adjustment to aquired inventory sold

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-401

-1,048

-942

-

-10,807

-1,733

-1,343

Excess tax benefits from share-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1

2

7

18

67

2

32

44

-22

10

25

7

9

5

3

41

65

85

11

3

230

440

44

185

472

136

40

29

Deferred income taxes

-777,257

-10,275

-1,982

4,356

146,322

-6,261

-22,238

824

17,028

6

2,008

783

46,859

201

-1,308

-1,115

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss (gain) on sale of business and discontinued operations

-

-

-

-

-

-

-

-

5,254

46,219

34,032

8,155

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss (gain) on sale of property and equipment

-

-

-

-

-

-

-

-

-

190

341

-58

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss (gain) on sale of business

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other expense (income), net

-21,858

-2,574

3,236

-5,252

1,248

-1,771

-2,740

-891

2,256

-2,754

1,398

25

-

-

-

-

3,730

-4,205

-2,282

561

-13,925

6,017

7,613

-1,470

7,293

-1,655

-1,816

-2,523

-957

-1,260

-2,272

-2,903

-3,779

-4,266

-3,291

-3,854

1,987

-4,756

-2,777

-2,035

-

-

-

-

Changes in assets and liabilities:
Accounts receivable

-2,870

32,002

-17,601

-22,775

39,347

10,948

1,356

47,393

-85,719

-5,583

14,550

21,763

-26,811

13,512

68,025

-42,642

-57,628

-36,793

23,907

-27,141

-24,110

-40,214

-33,419

63,578

-13,233

35,855

60,524

40,112

-44,532

-16,002

-26,610

10,119

-46,252

45,351

-19,711

-33,938

-8,569

-22,780

42,062

91,897

-37,523

65,857

43,095

63,266

Inventories

-43,361

39,276

7,174

-15,848

-2,489

5,007

-4,186

-2,680

-3,879

1,327

3,170

11,542

-18,381

-3,710

6,364

-13,598

-69,544

-39,457

-12,903

31,318

-48,247

-37,506

43,194

3,105

-32,262

45,157

64,170

20,123

-73,468

-21,601

-7,832

-201

37,142

-12,037

22,897

53,107

19,511

-11,940

31,501

-35,417

16,398

17,039

5,694

-106,281

Prepaid expenses and other assets

43,099

3,046

15,997

-8,004

-189

-7,630

5,396

14,108

628

-5,268

-2,460

-5,394

-2,181

-6,256

-6,605

13,217

41,341

-6,804

-9,359

-1,969

-14,409

-18,536

24,996

2,161

-4,446

4,293

-12,503

-6,802

22,887

-358

-11,393

-4,242

3,493

-16,791

-16,794

-644

-53,954

10,172

3,927

-10,381

11,885

1,362

5,409

-14,330

Accounts payable

-29,143

8,304

24,370

-1,873

-28,753

22,531

-15,015

14,744

-36,700

16,119

-27,455

31,423

-38,694

-29,818

20,437

19,922

-62,163

-55,693

-5,167

17,125

-60,808

-70,749

2,558

85,128

-88,520

44,442

54,933

28,936

2,833

-54,674

6,288

21,249

-51,288

-2,806

12,294

-5,295

-21,471

-34,508

91,740

6,703

-30,060

38,281

103,043

30,738

Accrued liabilities and other non-current liabilities

-76,635

-26,141

-49,188

-30,929

57,297

39,691

-32,400

20,439

-30,455

-7,044

-21,793

-11,625

27,498

6,508

-7,741

-22,502

-27,218

3,958

19,634

-11,576

-7,989

-24,997

10,096

-7,134

10,883

12,584

-13,013

-20,081

-2,272

-3,653

-4,204

18,143

-3,584

-17,939

5,359

-5,450

-56,007

13,515

2,071

2,362

-18,640

-82,687

5,604

63,455

Carnegie Mellon University accrued litigation settlement

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-736,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued employee compensation

8,661

37,193

-31,782

6,516

-25,677

20,617

-19,429

-22,110

-1,324

-2,237

-846

-7,529

7,597

25,537

-22,270

7,152

-18,702

14,295

-14,507

-14,424

1,910

19,101

-7,451

30,001

-19,752

10,013

-471

4,423

-24,878

29,509

-24,033

-648

-19,489

36,191

-14,387

-14,880

-5,755

33,065

4,406

-10,506

-1,857

36,123

-14,007

13,033

Deferred income

-

-

-

-

-

-

-

-

-

3,865

-3,732

5,016

6,138

-8,393

17,561

-1,234

-2,364

-1,566

-1,441

-7,027

-2,714

-12,053

-9,792

30,932

-24,623

10,905

16,195

-880

692

-8,382

2,427

5,454

-9,285

1,417

-13,063

4,729

-12,055

2,197

2,690

23,933

-11,877

29,246

-5,773

4,065

Income taxes payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-33,988

3,585

1,343

Net cash provided by operating activities

55,838

65,503

73,140

165,816

106,641

299,394

61,935

128,774

119,742

216,191

101,004

134,176

118,846

121,461

59,282

-658,024

53,306

66,594

26,584

58,868

155,421

181,424

156,954

235,137

100,489

177,199

86,496

83,855

204,595

136,577

189,192

198,673

69,098

261,587

263,413

177,149

250,833

367,886

319,238

255,591

281,117

203,534

182,333

144,529

Purchases of available-for-sale securities

0

0

0

0

0

0

1,499

13,457

162,607

296,660

177,811

198,416

146,046

140,087

110,358

93,365

133,215

356,465

173,465

392,900

344,023

448,526

153,881

181,889

146,143

220,280

164,631

306,838

338,538

558,457

225,255

421,652

268,804

443,008

462,705

677,179

240,817

312,890

522,182

186,878

-

-

-

-

Sales of available-for-sale securities

0

18,832

0

0

0

0

553,623

70,273

22,671

167,451

37,936

78,764

157,953

118,649

67,824

272,271

447,142

242,619

149,328

152,568

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Maturities of available-for-sale securities

0

0

0

0

0

0

59,165

128,820

120,639

136,090

87,377

82,235

41,264

51,823

48,682

97,788

30,159

113,790

72,967

94,927

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Sales and maturities of available-for-sale securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

205,685

190,099

182,311

-

346,826

162,909

335,771

517,911

436,435

322,532

558,777

378,950

402,145

408,522

272,547

190,021

330,993

198,305

149,440

-

-

-

-

Return of investment from (in) privately-held companies

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

260

0

441

-

-

-

-

3,000

0

750

5,000

500

1,250

503

1,750

0

0

750

1,000

-

-

-

-

Purchases of time deposits

0

0

0

0

0

0

0

25,000

75,000

75,000

75,000

75,000

75,000

75,000

75,000

50,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Maturities of time deposits

0

0

0

0

0

25,000

75,000

75,000

75,000

75,000

75,000

75,000

75,000

50,000

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of technology licenses

2,776

414

38

1,484

359

9,918

903

360

1,331

3,555

608

1,093

1,870

394

3,995

4,050

1,579

980

2,071

3,606

1,910

5,105

1,298

8,111

3,654

6,383

1,750

5,860

24,315

4,235

4,407

2,045

4,230

2,978

3,325

3,290

10,495

5,830

4,569

2,250

3,048

0

3,250

9,300

Purchases of property and equipment

18,986

20,742

23,010

19,183

28,886

12,646

20,801

13,588

13,395

10,612

4,803

9,741

6,786

13,347

12,509

11,868

3,894

9,041

16,986

7,334

14,415

16,661

15,823

16,131

13,310

14,222

18,981

20,080

19,096

19,356

10,830

18,904

26,449

20,085

25,227

17,018

26,906

23,969

22,903

16,395

25,006

7,629

3,765

3,414

Proceeds from sales of property and equipment

-

-

-

-

-

-

-

-

10,571

249

1,054

685

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash payment for acquisitions, net of cash and cash equivalents acquired

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

2,551

-

-

-

-

75,156

2,000

430

16,330

-

-

-

-

-

-

-

-

Purchases of equipment previously leased

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

10,240

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net proceeds from sale of discontinued operations

-

-

-

-

-

-

-

-

0

93,735

49,251

22,954

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net proceeds from sale of business

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other, net

-116

1,404

47

342

-4,809

4,007

-1,462

4,989

-6,089

0

7,275

-7,275

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) investing activities

1,084,257

-481,307

-23,095

-21,009

15,737

-1,571

-1,983,418

216,699

-23,452

92,801

-12,491

-17,337

44,257

-8,082

-85,356

210,776

338,494

-200

29,981

-166,585

-112,133

-251,647

19,097

-24,261

-7,268

104,822

-23,203

442

132,962

-146,613

81,290

111,176

3,811

-67,176

-83,668

-443,020

-87,772

-11,696

-372,778

-57,083

-299,991

-424,359

-6,965

-12,714

Cash flows from financing activities:
Repurchases of common stock

300,000

0

16,250

48,022

50,005

53,969

0

0

0

140,016

221,265

166,293

125,033

56,531

0

0

0

65,291

175,311

20,273

-

-

-

-

0

71,477

88,114

216,694

260,464

202,987

250,327

223,157

186,480

215,155

135,740

803,501

-

-

-

-

-

-

-

-

Proceeds from employee stock plans

44,167

21,795

50,230

31,084

40,189

16,192

33,525

11,055

42,878

39,613

77,872

19,939

62,383

11,277

244

315

21,369

2,174

44,161

13,013

41,049

2,934

49,282

19,092

107,686

24,155

53,316

19,805

38,692

8,915

39,526

17,803

50,474

8,942

36,782

9,841

77,686

17,196

31,789

48,688

76,896

13,728

20,636

385

Tax withholding paid on behalf of employees for net share settlement

17,440

19,220

32,884

28,758

9,248

8,915

12,883

23,893

906

1,120

3,005

21,809

402

899

112

15,270

482

869

697

22,310

908

663

637

24,286

466

518

510

9,378

277

345

598

8,879

3,010

304

234

4,634

-

-

-

-

-

-

-

-

Dividend payments to shareholders

40,104

40,140

39,889

39,467

39,508

39,411

39,383

29,798

29,695

29,470

30,095

29,991

30,457

30,699

30,675

30,461

30,447

30,270

31,194

30,910

30,942

30,867

30,820

30,172

29,889

29,516

29,791

30,253

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on technology license obligations

15,053

28,889

13,056

15,268

16,676

23,003

9,017

20,461

5,806

8,401

7,481

6,815

7,117

3,696

4,858

5,294

1,112

2,617

4,732

4,067

-

-

-

-

1,110

0

984

5,317

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments on capital lease obligations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

511

-

490

480

470

-

451

442

433

Excess tax benefits from share-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1

2

7

18

67

2

32

44

-22

10

25

7

9

5

3

41

65

85

11

3

230

440

44

185

472

136

40

29

Principal payments of debt

1,200,000

0

0

50,000

75,000

75,000

606,128

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of equity and debt financing costs

0

0

0

0

0

2,115

5,835

3,600

14,378

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other, net

-2,457

-2,869

3,407

-4,893

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) in financing activities

-930,860

280,677

-48,442

-155,324

-150,229

-186,221

1,252,884

-66,697

-7,907

-139,394

-183,974

-204,969

-100,599

-80,543

-35,396

-50,710

-10,673

-96,871

-167,766

-64,529

-16,304

-78,319

15,180

-35,322

76,199

-77,346

-66,058

-241,830

-253,788

-227,888

-244,933

-214,192

-138,951

-206,432

-99,181

-798,802

41,119

-43,448

31,353

48,403

76,907

13,413

20,234

-19

Net increase (decrease) in cash and cash equivalents

209,235

-135,127

1,603

-10,517

-27,851

111,602

-668,599

278,776

88,383

169,598

-95,461

-88,130

62,504

32,836

-61,470

-497,958

381,127

-30,477

-111,201

-172,246

26,984

-148,542

191,231

175,554

169,420

204,675

-2,765

-157,533

83,769

-237,924

25,549

95,657

-66,042

-12,021

80,564

-1,064,673

204,180

312,742

-22,187

246,911

58,033

-207,412

195,602

131,796