MSCI INC. MSCI Cash Flow

Msci inc. (MSCI)

CashFlow / TTM

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	Nov'10	Aug'10	May'10	Feb'10
Cash flows from operating activities
Net income
533,581	563,648	592,997	579,846	570,985	507,885	420,355	381,676	346,113	303,972	307,620	287,748	273,439	260,855	252,011	251,128	240,188	223,648	208,582	195,898	247,541	284,113	287,030	290,626	244,019	222,557	229,752	222,716	199,209	184,238	174,272	175,785	183,899	173,454	159,234	119,766	98,173	92,170	0	0	0
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of intangible assets
51,393	49,410	47,800	47,120	54,644	54,189	54,116	53,049	44,634	44,547	44,485	45,623	46,444	47,033	47,338	47,296	47,048	46,910	46,698	46,562	46,309	48,617	51,786	61,267	61,047	58,203	58,864	53,768	58,505	63,298	64,145	64,608	65,072	65,805	66,231	66,159	54,013	41,599	0	0	0
Stock-based compensation expense
46,821	41,199	41,440	40,793	39,385	38,897	36,850	35,911	36,235	36,576	36,078	35,465	34,315	32,001	31,597	29,292	28,288	28,558	27,021	28,667	28,764	26,585	25,970	24,632	23,364	25,004	25,064	26,280	26,291	25,323	26,810	27,133	29,112	31,723	33,663	38,261	35,619	32,285	0	0	0
Depreciation and amortization of property, equipment and leasehold improvements
29,716	29,999	30,775	31,019	30,991	31,346	31,153	33,025	34,807	35,440	36,769	35,756	34,990	34,320	32,441	32,178	31,850	30,889	30,941	29,234	27,090	25,930	24,352	24,899	23,752	22,302	21,249	18,993	18,881	18,700	18,189	18,225	18,731	19,425	20,477	20,742	19,130	17,413	0	0	0
Amortization of right of use assets
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of debt origination fees
4,176	4,073	3,941	3,941	3,852	3,715	3,579	3,442	3,396	3,396	3,396	3,349	3,208	3,068	2,927	2,659	2,398	2,135	7,847	7,753	7,749	7,748	2,497	2,762	3,031	3,348	3,145	2,940	17,559	18,065	18,470	19,248	5,197	5,776	5,885	7,788	9,579	8,090	0	0	0
Loss on extinguishment of debt
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of discount on long-term debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,218	726	832	941	1,066	932	945	5,322	5,305	5,322	5,314	940	1,051	1,074	1,408	1,637	1,337	0	0	0
Deferred taxes
-17,535	-20,767	-1,514	-1,809	-8,080	-780	-16,560	-16,102	-17,964	-18,902	-20,781	-19,291	-15,233	-16,967	-11,831	-11,503	-17,490	-10,288	-12,051	-11,976	24,744	-4,960	-11,945	-14,947	-36,194	-15,066	-8,619	-9,323	-29,651	-30,195	-5,126	-16,117	-12,125	5,625	-16,885	9,735	14,907	926	0	0	0
Excess tax benefits from share-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	13,344	13,294	4,651	2,835	3,328	3,268	1,899	1,897	1,235	791	958	1,048	4,766	5,159	5,948	7,263	10,110	10,837	9,722	8,537	0	0	0
Other non-cash adjustments
-1,630	-1,093	-163	410	709	188	-767	-1,364	-1,000	-704	-362	-217	-858	-1,192	-1,341	5,405	5,408	2,067	2,201	-5,148	-5,649	-1,847	-2,141	-1,034	-635	371	661	607	1,083	49	14	-194	-337	-1,542	-4,987	-4,819	-4,079	-3,246	0	0	0
Changes in assets and liabilities:
Accounts receivable
56,802	25,923	31,361	46,777	-27,664	153,942	78,675	110,483	199,812	105,593	74,641	44,774	7,412	18,494	31,439	35,100	75,383	30,900	18,668	3,921	-4,877	26,821	28,285	67,557	41,078	16,412	48,111	17,177	-12,686	-35,473	-43,421	-40,387	-13,239	42,284	62,934	56,665	45,120	35,851	0	0	0
Prepaid income taxes
-43,743	13,200	35,039	58,174	71,308	4,069	13,903	7,362	1,881	3,069	-13,935	-42,368	-31,524	-41,332	-21,216	-4,376	-4,741	1,972	-14,368	6,961	9,850	14,998	-442	96	106	-7,927	5,873	6,054	-3,100	-7,278	5,799	-2,952	-18,710	10,743	-20,324	-10,005	-2,141	-17,241	0	0	0
Prepaid and other assets
7,808	7,698	2,224	1,826	1,801	2,015	1,094	4,202	4,907	4,470	5,527	-1,201	-983	-624	1,892	507	430	1,217	2,820	2,045	9,756	9,857	8,409	11,838	5,904	4,459	5,224	65	2,329	1,395	-1,560	5,108	5,289	8,525	8,176	1,715	-1,071	-3,308	0	0	0
Accounts payable
2,841	2,584	213	2,252	737	2,300	-174	909	236	1,027	1,157	-1,369	-345	-1,912	-549	-419	377	-298	143	230	98	2,128	845	1,427	383	-2,145	-1,486	-778	-130	1,979	1,268	39	-284	57	953	-886	-916	-2,653	0	0	0
Accrued compensation and related benefits
7,729	25,217	13,231	13,037	11,879	8,532	8,927	4,932	850	8,659	5,192	4,111	-1,361	13,089	9,079	3,410	6,180	5,087	4,500	4,614	5,383	88	3,637	7,219	50	7,057	5,688	3,535	8,757	-834	-1,138	-1,500	-3,077	6,406	7,812	3,685	-6,799	15,574	0	0	0
Income taxes payable
5,832	-2,240	2,421	-10,995	-11,734	-2,890	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other accrued liabilities
7,208	3,664	1,144	9,857	23,505	29,096	36,334	35,538	24,697	15,933	8,132	10,155	10,786	19,741	9,684	23,802	4,509	17,165	21,722	-2,275	16,279	8,428	3,145	15,309	406	-260	-555	-9,905	-6,811	-8,233	-4,848	-7,035	-3,043	-3,400	265	-2,780	-7,628	-6,523	0	0	0
Deferred revenue
50,970	35,366	37,543	49,490	23,257	185,077	89,353	101,104	143,776	38,555	33,404	37,455	23,017	21,809	17,399	28,030	15,369	8,047	9,944	15,768	30,813	42,263	36,249	24,564	14,161	11,399	10,498	14,685	20,799	18,345	31,514	37,562	45,986	19,379	9,104	-2,058	316	3,980	0	0	0
Long-term operating lease liabilities
-20,900	-20,244	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
-2,168	-4,059	15,132	15,726	19,986	22,989	-33,329	-37,382	-45,314	-47,383	-10,277	-9,047	-3,972	-5,121	-7,506	-3,052	-6,224	-5,550	-4,185	-6,955	-8,591	201	5,468	6,129	7,420	-2,930	-2,021	-6,961	-14,665	-10,825	-14,170	-8,289	1,075	3,031	3,936	-2,117	-1,161	251	0	0	0
Net cash provided by operating activities
734,418	709,523	639,055	594,345	612,040	612,762	582,740	540,688	455,740	404,158	399,858	446,612	442,491	442,363	400,085	385,521	291,451	321,247	328,726	302,330	347,107	305,673	296,765	258,559	275,385	321,183	285,449	313,685	348,615	347,075	367,730	364,817	350,382	254,997	237,046	208,496	172,237	183,354	0	0	0
Cash flows from investing activities
Acquisition of equity method investment
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	109,058	194,416	0	0	0
Capitalized software development costs
26,913	24,700	23,671	21,205	19,330	18,700	17,978	18,625	17,693	15,640	13,172	10,869	10,326	10,344	10,387	10,801	9,439	8,500	8,215	7,525	8,043	8,216	7,519	5,957	4,613	3,285	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Capital expenditures
29,573	29,116	34,404	35,212	31,901	30,257	28,806	26,605	27,367	33,177	25,580	30,058	36,471	32,284	40,271	38,379	38,853	40,652	31,010	39,723	39,092	42,659	55,530	51,056	44,187	40,255	27,674	32,623	45,161	44,884	44,378	36,325	23,568	23,111	22,937	15,226	13,740	13,190	0	0	0
Acquisitions, net of cash acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	60	0	0	0	-	-	-	-	-	-	-	-	23,268	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from redemption of short-term investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	70,900	124,900	147,498	255,237	207,032	230,221	209,545	123,079	150,292	114,609	140,617	416,158	416,550	0	0	0
Proceeds from the sale of capital equipment
-	10	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	22	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities
-265,439	-71,937	4,746	6,414	32,610	34,874	-25,764	-24,220	-44,289	-48,046	-37,981	-39,499	-46,140	-42,031	-49,825	-49,004	-48,061	-48,861	-39,197	-62,100	300,770	297,037	284,890	305,835	-48,864	4,121	-78,036	-89,377	6,499	-94,361	4,632	-11,476	-167,414	-90,611	-124,288	-1,167,117	-807,861	-892,277	0	0	0
Cash flows from financing activities
Proceeds from borrowings
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,125,000	0	0	0	-	-	-	-
Repayment of long-term debt
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	810,000	15,187	21,125	27,063	48,000	59,000	59,000	1,126,751	1,103,563	1,130,376	1,122,187	46,249	1,312,062	1,277,436	1,348,673	1,644,937	386,875	0	0	0
Excess tax benefits from share-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	13,344	13,294	4,651	2,835	3,328	3,268	1,899	1,897	1,235	791	958	1,048	4,766	5,159	5,948	7,263	10,110	10,837	9,722	8,537	0	0	0
Proceeds from exercise of stock options
-	3,236	1,292	1,377	1,229	605	1,219	1,481	2,112	2,635	2,600	2,871	3,227	5,040	5,419	5,313	5,437	3,631	3,105	6,035	8,603	9,681	11,403	10,228	9,648	11,702	11,858	12,636	13,732	13,311	13,433	11,371	12,964	16,431	23,029	33,837	28,129	23,436	0	0	0
Repurchase of common stock held in treasury
380,503	292,075	943,208	988,397	1,143,077	949,888	293,081	256,184	141,376	150,461	426,052	448,797	528,212	774,565	754,938	1,069,893	1,037,078	700,715	444,895	398,315	312,844	409,651	411,651	211,447	209,945	112,183	212,993	113,145	113,077	105,989	14,609	14,195	14,039	14,626	12,885	14,615	14,601	14,151	0	0	0
Payment of dividends
224,405	222,922	215,482	209,370	193,950	170,938	154,944	137,596	129,111	119,717	111,564	103,830	99,791	96,191	92,687	90,181	89,226	87,743	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment of debt issuance costs in connection with debt
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in financing activities
-35,113	-36,667	-1,157,398	-1,196,390	-842,060	-626,483	46,932	101,439	-268,375	-267,543	-535,016	-56,939	-131,959	-372,899	-363,095	-378,470	-334,334	4,696	266,082	-454,897	-360,126	-442,328	-412,107	-219,076	-225,461	-146,584	-258,900	-158,718	-352,921	-322,976	-254,569	-247,635	-41,376	-177,994	-132,182	933,497	630,424	758,058	0	0	0
Effect of exchange rate changes
-9,791	1,472	-3,651	-848	-9,637	-6,479	-4,525	-892	9,780	9,099	-1,908	-4,207	-12,434	-13,305	-6,591	-8,454	-1,793	-8,175	-10,316	-13,551	-14,858	-10,017	-5,105	3,220	769	-3,595	-5,221	-4,196	-5,186	1,360	1,090	-8,294	-3,210	-3,604	416	6,023	5,643	1,416	0	0	0
Net decrease in cash
424,075	602,391	-517,248	-596,479	-207,047	14,674	599,383	617,015	152,856	97,668	-175,047	345,967	251,958	14,128	-19,426	-50,407	-92,737	268,907	545,295	-228,218	272,893	150,365	164,443	348,538	1,829	175,125	-56,708	61,394	-2,993	-68,902	118,883	97,412	138,382	-17,212	-19,008	-19,101	443	50,551	0	0	0
Supplemental disclosure of cash flow information:
Cash paid for interest
146,831	141,484	139,498	139,473	126,013	125,986	112,741	112,717	112,707	112,502	112,515	100,636	100,604	89,139	89,076	66,023	65,400	42,110	23,768	28,634	12,852	17,233	19,717	19,478	19,731	20,429	23,250	25,635	31,121	36,744	40,029	44,213	49,995	52,713	57,229	61,447	49,729	40,100	0	0	0
Cash paid for income taxes
61,307	72,935	98,382	125,462	151,925	143,215	138,763	130,976	124,035	128,727	128,535	96,798	99,897	97,845	106,544	123,480	126,800	129,534	111,459	126,870	113,264	120,419	129,946	137,918	139,123	128,167	141,506	138,831	137,491	134,439	114,023	98,656	86,270	93,728	75,157	62,051	53,483	46,190	0	0	0
Supplemental disclosure of non-cash investing activities
Property, equipment and leasehold improvements accrued, but not yet paid
5,829	3,690	3,411	3,658	2,746	2,999	4,864	3,802	4,745	4,588	2,830	2,145	2,289	4,422	1,118	3,955	-4,249	3,644	10,421	-2,114	16,859	6,731	2,106	13,404	4,983	3,396	5,331	203	1,574	3,575	2,973	4,365	4,316	1,781	-108	2,772	-713	821	0	0	0