National instruments corporation (NATI)
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 flow from operating activities:
Net Income (Loss) Attributable to Parent

132,655

58,596

51,643

28,692

23,220

56,541

43,194

31,054

24,268

-24,282

33,390

25,155

18,148

29,147

24,489

19,800

9,298

32,138

23,178

24,942

15,004

43,385

39,702

24,523

18,723

31,728

15,764

14,421

18,600

20,714

24,340

26,441

18,642

24,327

12,736

26,548

30,461

38,028

28,133

24,602

18,353

Adjustments to reconcile net income to net cash provided by operating activities:
Gain (Loss) on Disposition of Business

159,753

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation and amortization

19,265

18,995

18,562

17,972

18,012

16,932

18,637

17,662

17,436

17,901

18,879

17,246

18,669

18,226

16,947

18,785

19,432

18,172

18,655

18,578

17,924

19,195

17,654

16,363

16,994

17,077

17,342

16,726

16,829

17,657

13,713

13,201

14,115

14,152

12,355

12,417

10,973

9,652

9,232

9,546

9,442

Stock-based compensation

12,104

13,384

13,392

13,628

11,034

10,124

9,556

9,732

8,204

7,873

7,546

7,324

6,402

6,197

6,138

6,749

6,748

6,338

6,406

6,354

6,391

6,228

6,650

6,328

6,553

6,996

7,990

6,872

7,134

7,290

7,221

6,982

6,303

6,569

6,354

5,706

4,590

4,601

4,735

4,543

4,916

Tax benefit from deferred income taxes

-1,599

-11,219

-3,729

3,918

-1,650

-12,470

-1,034

3,812

-2,046

-1,484

-3,415

2,109

-2,984

1,891

-4,394

3,988

-6,915

18,423

-5,843

677

-2,238

-5,462

824

4,596

-3,198

-3,081

2,361

-1,731

-1,902

-1,773

-3,069

8,262

-1,567

-8,090

-3,261

3,330

-560

2,494

-2,600

2,065

1,709

Changes in operating assets and liabilities, net of divestitures

-40,948

-

-7,682

17,720

8,469

-

-18,132

3,391

7,879

-

-6,271

13,725

-6,441

-

-26,292

13,142

-15,801

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Tax benefit from stock option plans

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7

921

16

53

134

985

70

222

143

1,583

459

-155

259

1,848

246

104

12

3,708

1,327

695

-1,178

-1,008

1,587

Changes in operating assets and liabilities (net of effects of acquisitions):
Accounts receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

27,871

-19,910

14,576

-11,828

14,603

-23,094

29,275

865

-2,031

9,569

757

-15,115

458

-5,654

32,874

-1,671

-1,552

9,668

8,908

4,933

5,625

24,101

-6,190

-613

Inventories

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-5,467

2,581

9,431

2,797

2,190

3,568

-2,963

-1,852

-6,795

-6,374

-3,313

18,045

12,876

6,284

8,581

8,413

-559

-9,017

4,750

16,643

16,218

23,875

-6,157

-3,006

Prepaid expenses and other assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7,741

-16,174

11,290

8,254

-8,023

-1,055

23,152

2,790

-16,553

-98

5,449

12,969

-3,259

-7,329

27,093

-9,468

-7,650

11,186

12,809

-14,995

5,083

34,068

-18,443

-297

Accounts payable and accrued expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-4,219

-3,527

-382

-1,700

-3,290

-2,089

1,155

6,213

2,032

-24

-12,215

1,603

12,319

504

10,078

518

1,461

3,175

-2,134

3,071

459

4,218

1,335

3,618

Deferred revenue

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

8,084

-5,283

783

2,909

6,201

-1,790

4,589

5,910

154

1,095

1,321

3,776

23,321

-20,182

12,537

5,374

6,738

3,164

914

6,137

7,710

-507

3,475

3,730

Taxes, accrued compensation, and other current liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,151

-2,616

-9,638

12,640

3,040

9,120

-15,191

3,180

5,306

-9,042

-2,992

9,200

27,354

-19,494

-1,192

12,361

1,415

-20,530

-15,060

5,134

8,009

-52,451

16,351

2,162

Net cash provided by operating activities

43,620

75,060

60,708

46,490

42,147

87,243

88,485

58,869

39,983

76,986

62,671

38,109

46,676

50,183

69,472

36,180

44,364

48,584

69,698

24,372

26,411

54,394

72,278

22,296

46,142

74,757

50,330

23,910

20,482

42,254

48,461

8,297

33,504

53,399

43,204

31,666

41,630

27,314

46,024

30,119

41,601

Cash flow from investing activities:
Capital expenditures

12,816

13,674

21,135

15,112

10,936

7,286

7,609

11,649

8,115

6,172

8,357

4,916

10,811

10,017

13,438

11,703

9,267

5,885

7,476

10,363

10,263

14,299

8,536

10,150

11,959

7,001

7,648

14,053

19,094

36,590

23,549

19,880

9,054

14,501

17,276

13,473

9,580

13,993

4,389

4,744

5,271

Proceeds from sale of business, net of cash divested

158,973

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Capitalization of internally developed software

1,915

1,886

2,682

2,218

2,279

1,056

1,808

3,676

7,668

7,256

9,590

13,192

11,624

7,811

8,642

7,403

8,003

8,717

11,193

9,224

2,222

3,726

5,258

9,195

7,602

4,317

2,493

5,270

2,803

437

1,620

5,924

3,740

653

2,021

5,660

3,731

-1,459

-3,279

-7,617

-3,404

Additions to other intangibles

112

77

645

381

106

234

1,229

1,081

2,855

1,005

255

599

525

373

1,280

326

363

571

1,720

121

399

596

604

585

1,049

1,036

1,436

1,292

1,418

464

341

752

333

1,809

1,470

1,320

436

1,898

563

1,147

543

Payments to acquire equity-method investments

0

-

-

0

9,784

-

-

0

0

-

-

-

-

0

0

0

549

96,983

4,106

0

24,523

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,027

0

0

2,191

Purchases of short-term investments

206,331

44,193

49,297

31,683

60,094

141,264

35,187

84,920

52,355

24,890

10,038

27,554

25,253

30,043

4,046

0

5,008

6,414

0

7,317

22,332

16,185

27,149

70,866

9,649

54,315

0

7,862

8,177

-

-

-

-

164,150

39,202

26,921

27,176

38,465

3,027

49,376

35,823

Sales and maturities of short-term investments

111,827

15,582

86,938

35,957

81,151

40,804

75,092

37,423

10,211

-5,955

24,565

9,086

11,931

9,203

6,832

8,145

23,589

106,685

7,956

21,022

15,774

7,321

2,867

76,258

3,389

45,072

65

9,142

26,092

18,342

37,036

98,450

84,608

80,018

12,171

45,984

27,931

19,153

21,981

32,501

9,037

Net cash used in investing activities

49,626

-44,248

41,785

-13,437

-2,048

-114,570

29,259

-63,903

-60,782

-45,278

-3,675

-37,175

-36,282

-39,041

-20,574

-11,287

399

-11,885

-16,539

-6,003

-43,965

-27,485

-38,680

-14,538

-26,870

-21,597

-11,512

-19,335

-5,400

-184,010

1,687

33,015

71,481

-101,095

-47,798

-74,948

-12,992

-38,689

10,723

-30,383

-38,195

Cash flow from financing activities:
Principal payments on revolving line of credit

-

-

-

-

-

-

-

-

-

-

-

-

-

0

15,000

0

12,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of common stock

8,991

7,368

8,178

8,432

9,213

7,177

7,802

8,022

8,600

6,224

7,463

7,590

7,817

6,750

7,327

7,385

7,445

6,533

6,836

7,014

7,402

6,792

7,359

7,124

10,000

10,510

8,197

8,814

11,798

9,605

6,875

6,817

7,605

5,753

5,763

4,339

17,050

13,484

5,818

10,209

22,341

Repurchase of common stock

6,526

34,145

44,796

45,971

46,404

0

0

0

0

-

-

-

-

0

0

993

4,642

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

10,927

0

30,935

Dividends paid

33,997

32,772

33,016

32,957

33,110

30,503

30,459

30,398

30,177

27,500

27,456

27,394

27,201

25,841

25,783

25,717

25,556

24,237

24,537

24,523

24,346

19,179

19,132

19,072

18,904

17,535

17,514

17,446

17,281

17,234

17,148

17,085

16,934

12,064

12,037

11,992

11,868

10,201

10,192

10,153

10,072

Other

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-944

7

921

16

53

134

985

70

222

143

1,583

459

-155

259

1,848

246

104

12

3,708

1,327

695

-20

1,008

-1,587

Net cash used in financing activities

-31,532

-60,386

-69,634

-70,496

-70,301

-24,233

-22,657

-22,376

-21,577

-37,118

-29,993

-19,804

-19,384

-19,091

-33,456

-4,325

-34,753

-9,344

-56,708

-25,133

-16,928

-12,334

-11,639

-10,963

-8,834

-13,105

-18,190

-7,049

-5,024

-7,784

-10,014

-8,420

-9,083

-6,207

-6,262

-3,945

6,509

3,978

-15,321

1,064

-20,253

Effect of exchange rate changes on cash

-1,889

1,417

-1,847

438

-418

-435

-1,325

-5,336

2,577

1,380

2,041

3,012

2,715

-7,420

-51

-707

4,261

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net change in cash and cash equivalents

59,825

-28,157

31,012

-37,005

-30,620

-51,995

93,762

-32,746

-39,799

-4,030

31,044

-15,858

-6,275

-15,369

15,391

19,861

14,271

21,894

-3,549

-6,764

-34,482

14,575

21,959

-3,205

10,438

40,055

20,628

-2,474

10,058

-149,540

40,134

32,892

95,902

-53,903

-10,856

-47,227

35,147

-7,397

41,426

800

-16,847