Novanta inc. (NOVT)
CashFlow / TTM
Apr'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'11
Cash flows from operating activities:
Consolidated net income

40,467

40,773

43,200

49,266

50,511

51,095

49,128

42,505

40,870

62,307

60,386

59,490

54,371

22,003

20,350

19,448

34,075

35,615

-973

-3,016

-21,786

-24,242

10,531

7,784

6,203

7,331

18,856

14,563

20,297

19,578

7,613

18,944

24,138

29,001

0

0

0

Less: Loss from discontinued operations, net of tax

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-7,333

-5,549

-5,421

-4,881

-2,646

0

0

0

-

-

-

-

-

-

-

-

Income from continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

20,350

19,448

34,088

35,628

1,235

-214

-16,319

-16,909

16,080

13,205

11,084

9,977

0

0

0

-

-

-

-

-

-

-

-

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

38,536

38,280

37,620

36,979

37,059

37,052

35,704

35,369

33,343

30,758

27,480

23,780

21,610

20,357

20,343

19,882

19,581

19,114

20,390

22,031

23,730

23,797

22,273

20,714

19,140

19,570

16,821

15,239

13,917

12,458

14,233

14,794

15,235

15,267

0

0

0

Provision for inventory excess and obsolescence

3,500

3,188

2,101

2,159

1,579

1,898

1,349

1,147

1,682

1,421

2,541

2,503

2,147

3,091

3,018

3,160

2,911

1,934

1,431

1,031

883

832

879

1,296

1,207

1,582

0

0

0

-

-

-

-

-

-

-

-

Share-based compensation

9,812

9,340

9,587

9,039

8,397

7,714

6,745

6,486

6,068

5,493

5,131

4,683

4,420

4,293

4,278

4,251

4,132

4,387

4,411

4,428

4,487

4,329

4,684

5,035

5,350

5,442

5,225

5,052

4,783

4,534

4,237

3,839

3,570

3,276

0

0

0

Deferred income taxes

-4,929

-4,332

-5,943

-6,892

-6,335

-6,076

-2,956

-1,286

-718

-2,560

-4,841

-3,833

-3,481

-1,766

-5,312

-2,292

-1,481

-1,692

-1,301

-5,314

-4,849

-6,736

67

1,671

2,877

3,886

0

0

0

-

-

-

-

78

0

0

0

Earnings from equity-method investment

-

-

-

-

-

-

-

-

-

104

597

1,287

1,555

2,191

2,348

2,544

2,670

2,657

3,000

2,832

2,854

2,700

1,995

1,803

1,681

1,469

1,373

991

740

556

233

-22

320

1,171

0

0

0

Dividend from equity-method investment

-

-

-

-

-

-

-

-

-

-

-

-

-

2,341

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on acquisition of business

-

-

-

-

-

-

-

-

-

26,409

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash restructuring and acquisition related charges

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

0

0

0

-

2,388

-3,742

138

-1,163

0

0

0

Inventory acquisition fair value adjustments

0

-

-

-

-

-

-

-

-

4,754

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash interest expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

965

988

1,010

1,028

1,049

2,137

1,958

1,794

1,881

0

0

0

Other

-596

-259

-697

-851

230

165

504

567

132

-283

-693

-793

-525

-813

-1,688

-1,766

-1,574

-1,192

-1,010

-1,118

-1,545

-1,567

-1,649

-1,297

-1,060

-1,230

-1,390

-1,269

-1,050

-422

395

-284

-36

-199

0

0

0

Changes in assets and liabilities which provided/(used) cash, excluding effects from business acquisitions:
Accounts receivable

-2,146

3,600

7,556

10,832

11,980

1,156

3,965

-6,809

-7,034

2,077

6,570

9,341

8,945

6,394

4,213

1,696

3,569

7,526

2,635

1,288

-3,349

-3,526

-3,669

-1,609

2,375

1,826

2,894

3,370

5,854

2,330

-509

-4,618

-4,056

-4,822

0

0

0

Inventories

2,907

7,397

14,306

17,221

10,751

15,603

10,822

9,222

16,596

13,587

13,253

12,219

3,812

2,917

-544

1,104

2,882

3,338

6,459

4,892

6,415

991

936

3,224

-213

1,688

2,463

-2,360

2,068

1,889

2,103

5,519

4,114

6,062

0

0

0

Prepaid income taxes, income taxes receivable, prepaid expenses and other current assets

853

1,526

5,428

3,199

7,742

-1,350

-4,871

762

-2,211

2,169

3,941

856

1,677

1,729

3,936

3,742

261

-902

194

-1,003

266

527

12,190

-501

-1,096

-854

-11,860

1,184

1,161

282

4,982

3,567

547

837

0

0

0

Accounts payable, income taxes payable, accrued expenses and other current liabilities

-13,906

-14,800

-11,553

9,402

14,719

14,888

13,737

-4,894

-1,597

9,611

10,455

17,318

14,139

10,590

1,675

-2,334

-1,191

2,167

198

1,903

2,481

-4,698

2,420

3,429

1,104

5,958

18,582

17,554

12,938

7,155

3,732

2,445

1,692

5,898

0

0

0

Deferred revenue

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,263

-5,111

-9,548

-9,343

0

0

0

Other non-current assets and liabilities

-4,681

-4,848

-1,067

-832

108

926

1,862

3,469

3,243

2,729

2,674

1,788

1,195

1,780

161

671

1,983

2,065

2,579

1,044

1,287

134

-667

372

-1,474

-849

1,028

108

585

627

-1,881

-480

463

1,053

0

0

0

Cash provided by operating activities of continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

42,660

42,652

35,685

33,429

35,051

38,634

47,236

43,990

49,270

55,648

52,694

56,178

0

0

0

-

-

-

-

-

-

-

-

Cash used in operating activities of discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,701

-864

-4,093

-6,605

-6,978

0

0

0

-

-

-

-

-

-

-

-

Cash provided by operating activities

75,546

63,248

49,770

70,135

74,695

89,647

89,811

74,221

71,027

63,378

54,368

53,519

52,250

47,788

42,660

42,652

35,672

33,416

34,098

36,799

46,834

42,289

48,406

51,555

46,089

49,200

41,379

27,269

23,951

28,430

35,950

46,134

48,651

45,173

0

0

0

Cash flows from investing activities:
Payment of business acquisition purchase price held in escrow

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of property, plant and equipment

10,633

10,743

10,964

13,000

14,154

14,658

14,237

13,236

10,267

9,094

7,959

6,292

7,881

8,462

8,446

8,706

6,947

5,552

5,743

4,959

5,389

5,415

5,598

5,127

4,144

4,777

2,749

3,135

3,728

3,521

5,344

5,144

4,421

4,217

0

0

0

Payment of contingent consideration related to acquisition of technology assets

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition of businesses, net of cash acquired and working capital adjustments

-

-

-

-

-

-

-

-

-

168,332

168,338

34,804

44,276

8,958

21,891

21,891

11,713

25,987

13,048

7,630

9,730

88,238

86,358

91,776

90,480

80,773

0

0

0

-

-

-

-

-

-

-

-

Other investing activities

-

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of property, plant and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

7,037

7,041

3,642

3,693

127

178

176

97

112

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Cash used in investing activities of continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-23,296

-28,008

14,603

-1,842

10,957

18,210

-15,022

-93,541

-91,901

-96,798

-94,333

-85,297

0

0

0

-

-

-

-

-

-

-

-

Cash provided by investing activities of discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

3,768

4,246

175

11,834

12,341

0

0

0

-

-

-

-

-

-

-

-

Cash used in investing activities

-66,540

-63,844

-64,385

-45,402

-45,114

-45,590

-44,847

-174,107

-143,605

-177,380

-180,233

-41,660

-52,689

-12,865

-21,589

-26,301

16,310

-1,633

10,381

22,876

-10,637

-89,773

-87,655

-96,623

-82,499

-72,956

-66,495

-68,029

-79,995

2,975

-5,061

-4,939

-4,421

-4,217

0

0

0

Cash flows from financing activities:
Borrowings under revolving credit facilities

-

-

-

-

-

-

-

-

-

176,769

0

0

0

-

-

-

-

13,000

13,000

13,000

20,000

77,000

77,000

77,000

70,000

60,000

0

0

0

-

-

-

-

-

-

-

-

Repayments of term loan and revolving credit facilities

47,344

50,694

86,357

68,916

73,948

74,648

40,359

40,007

30,350

26,925

17,500

17,500

16,250

16,250

26,250

26,250

27,500

30,500

25,500

31,500

33,500

33,500

33,500

37,500

36,500

38,500

0

0

0

-

-

-

-

-

-

-

-

Repayments of long-term debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

Repayments of borrowings under the revolving credit facility

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

Payments of debt issuance costs

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

712

712

712

712

145

0

0

0

-

-

-

-

-

-

-

-

Payments of withholding taxes from share-based awards

8,870

6,935

6,912

6,908

6,642

3,556

3,727

3,663

3,225

2,090

1,916

2,200

2,138

1,789

2,229

1,942

1,909

1,941

1,492

1,540

1,647

1,666

2,280

2,264

2,227

1,495

0

0

0

-

-

-

-

-

-

-

-

Finance lease payments

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments of contingent considerations

-

-

-

-

-

-

-

-

-

2,546

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repurchases of common shares

0

-

-

-

-

-

-

-

-

400

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Capital lease payments

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

-

-

-

Acquisition of noncontrolling interest

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other financing activities

-493

-443

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-538

-467

-1,289

-1,162

-1,077

-841

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Cash provided by (used in) financing activities of continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-34,221

-34,110

-31,715

-21,535

-15,754

-21,010

-16,179

40,281

39,363

35,745

29,657

18,574

0

0

0

-

-

-

-

-

-

-

-

Cash provided by (used in) financing activities of discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

-

-

-

-

-

-

-

-

Cash used in financing activities

-9,350

-3,935

-35,511

-65,674

-62,474

-60,164

-24,042

117,754

99,537

143,330

153,039

18,036

15,733

-23,189

-34,221

-34,110

-31,715

-21,535

-15,754

-21,010

-16,179

40,281

39,363

35,745

29,657

18,574

26,978

38,087

43,724

-21,112

0

0

0

-

-

-

-

Effect of exchange rates on cash and cash equivalents

-29

1,432

-283

-227

-4,160

-1,907

-1,257

267

4,154

2,621

236

-1,266

-3,172

-3,585

-2,200

-2,795

83

-1,435

-2,185

-2,621

-4,217

-2,631

-255

2,272

2,157

374

-1,035

-1,027

-1,701

660

702

-900

614

193

0

0

0

Decrease in cash and cash equivalents

-373

-3,099

-50,409

-41,168

-37,053

-18,014

19,665

18,135

31,113

31,949

27,410

28,629

12,122

8,149

-15,350

-20,554

20,350

8,813

26,540

36,044

15,801

-9,834

-141

-7,051

-4,596

-4,808

827

-3,700

-14,021

10,953

2,208

-18,241

-10,979

-1,946

0

0

0

Supplemental disclosure of cash flow information:
Cash paid for interest

7,821

8,389

8,040

8,399

8,676

8,924

9,036

8,399

7,193

5,832

4,262

3,211

2,888

2,917

3,012

3,336

3,619

3,784

4,088

4,196

4,279

3,793

3,261

2,828

2,402

2,291

2,300

2,122

1,904

2,067

3,965

6,875

9,711

12,464

0

0

0

Cash paid for income taxes

12,590

14,260

17,920

16,140

19,689

20,323

18,241

23,412

23,198

21,121

21,241

15,832

13,407

14,058

15,487

15,003

11,599

10,688

8,214

7,716

6,620

6,087

4,206

3,134

2,774

2,197

4,689

4,090

3,812

3,440

1,017

1,251

1,427

1,912

0

0

0

Income tax refunds received

1,769

767

1,281

2,819

2,766

3,011

2,397

751

821

337

758

758

954

932

4,235

4,281

3,924

3,939

0

0

0

-

-

-

-

12,607

12,607

3

163

222

0

0

0

-

-

-

-

Issuance of PIK notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

532

0

0

0

Assets acquired under capital lease obligation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-