Netscout systems, inc. (NTCT)
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'10
Cash flows from operating activities:
Net income (loss)

7,336

36,725

-17,472

-29,343

19,211

-3,603

-26,428

-62,504

16,817

89,685

-2,468

-24,222

22,310

21,245

-1,266

-8,998

-3,616

-24,507

-7,915

7,669

20,854

17,629

11,233

11,476

16,676

17,294

9,883

5,253

14,553

11,138

9,910

5,008

12,947

10,031

7,051

2,399

10,771

11,101

8,248

7,145

Adjustments to reconcile net income (loss) to cash provided by operating activities, net of the effects of acquisitions:
Depreciation and amortization

28,707

28,731

29,331

29,335

31,369

31,951

34,211

40,347

40,644

37,650

37,496

37,713

39,974

40,308

40,407

40,174

42,403

45,871

46,811

4,986

5,260

4,696

4,877

4,876

4,486

4,262

4,653

4,859

3,638

4,757

4,694

4,375

4,451

4,214

4,196

3,781

3,508

3,494

3,403

3,472

Operating lease right-of-use assets

2,632

2,766

2,554

2,552

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on disposal of fixed assets

0

-16

0

0

-79

-7

-111

-63

-23

-37

-10

-411

-172

-41

-20

-38

-3

91

-212

-10

236

-536

0

0

-1

-1

-13

-24

-33

-47

0

-24

-19

-22

-57

-70

-36

-15

-58

-18

Deal related compensation expense and accretion charges

0

0

0

0

0

26

38

38

39

38

38

38

39

38

38

38

38

38

6,615

37

39

38

38

38

37

41

37

36

58

65

64

76

-

-

-

0

-

-

-

-

Share-based compensation expense associated with equity awards

10,900

11,361

15,857

12,743

12,186

13,759

17,418

12,965

12,063

12,425

12,598

10,231

8,918

10,469

11,670

8,132

7,951

8,302

7,503

4,595

4,633

4,150

4,495

3,302

2,971

3,217

3,930

2,812

2,337

2,464

2,543

2,247

2,534

2,170

1,788

2,159

2,300

1,460

1,501

1,178

Net change in fair value of contingent and contractual liabilities

257

0

0

541

1,614

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-1

0

0

-9

-14

-11

-14

-264

66

44

221

135

-

-

-

0

-

-

-

-

Accretion of contingent consideration

12

0

6

18

55

54

10

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Impairment charge

0

0

0

0

0

0

0

35,900

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes

-1,341

-5,535

-3,775

830

-5,775

-5,378

-7,983

-14,306

-27,742

-82,707

-8,771

-8,564

27,249

-12,929

-14,000

-11,328

-49,102

2,815

3,927

239

585

391

351

1,409

955

2,436

1,205

618

-2,328

2,327

1,476

2,434

2,179

2,095

933

230

3,532

-2,411

1,164

1,174

Other (gains) losses

187

-120

4

81

-54

-2

2

206

50

664

-116

-616

-260

134

220

17

287

53

-19

-42

-84

1

-57

-28

17

62

0

7

-13

-5

28

-7

18

-32

67

0

-

-

-

-

Changes in assets and liabilities
Accounts receivable and unbilled costs

-31,026

42,491

42,155

-75,092

-11,748

63,253

18,614

-47,939

-37,513

34,841

27,292

-109,572

9,478

45,238

44,121

-50,757

-3,275

79,229

-28,966

-23,729

-1,172

33,657

16,867

-27,551

-13,753

18,573

4,717

-22,988

12,048

28,722

-9,941

-30,911

20,186

-2,606

8,316

-21,899

6,009

15,344

1,130

-25,238

Due from related party

0

0

0

0

-1

1,548

-183

-1,536

111

0

-554

0

-376

-1,909

-24,754

1,984

12,706

-23,101

28,878

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Inventories

-2,734

-1,251

1,276

1,208

-2,638

-1,791

-1,030

138

-2,228

174

-3,689

4,737

-14,999

2,782

-3,953

3,714

-356

2,001

-8,974

1,806

1,858

-4,230

3,483

-612

1,452

400

-212

5,158

135

-2,473

849

56

-1,393

337

-282

2,230

-23

-2,464

2,796

783

Prepaid income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-2,288

Prepaid expenses and other assets

-2,882

332

-7,051

-4,238

2,548

-831

-8,177

3,426

9,177

-30,992

516

1,152

32,338

-15,360

2,344

5,429

-6,862

-408

43,405

-6,654

2,026

-3,224

5,420

-2,053

4,186

-1,685

1,084

-744

-9,749

927

3,573

-142

75

1,263

-1,974

1,511

2,956

-2,260

-186

-914

Other assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-28

Accounts payable

359

-14,746

10,733

-634

-4,458

10,100

-4,312

-5,206

-3,551

2,714

-966

-7,126

-2,040

-1,969

-444

4,858

-11,336

18,682

-3,383

-1,629

2,055

526

332

-1,558

2,753

256

-3,481

1,970

792

-4,436

385

914

557

-1,423

1,818

-3,147

4,369

-894

-2,106

1,214

Accrued compensation and other expenses

16,803

20,379

11,962

-16,332

-8,421

12,972

9,847

5,566

1,166

-10,804

12,707

-20,787

3,859

16,967

4,067

-18,108

-1,986

23,381

32,810

-20,955

3,101

9,460

12,266

-11,594

4,475

8,140

6,118

-11,999

4,339

6,624

4,494

-4,718

3,040

3,802

4,063

-9,268

2,947

2,992

4,213

-6,714

Operating lease liabilities

3,387

3,125

3,140

3,425

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Due to related party

0

0

0

0

2

235

-253

250

7

-250

190

-22

-2,286

2,073

-3,283

704

-2,414

-11,842

7,513

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income taxes payable

-943

72

-133

85

1,115

5

123

-1,882

-1,448

-3,055

1,584

185

5,125

307

-3,464

-5

4,017

0

-147

40

107

0

0

-791

86

705

0

-114

-

-

-

-

-

-

-

-

-

-

-

-

Deferred revenue

9,467

34,142

-10,529

-24,917

21,294

38,965

-13,740

-31,387

5,115

35,811

-9,543

-39,521

18,790

32,942

-1,272

-17,385

57,155

44,780

-61,969

-14,321

15,842

17,110

-7,089

-9,193

9,655

14,675

-8,267

-3,149

7,702

14,180

-8,912

-5,375

17,088

3,453

-606

-9,627

5,612

7,335

-3,695

-11,318

Net cash provided by operating activities

107,233

69,334

-1,002

49,458

80,324

36,808

7,186

25,520

73,536

76,857

19,426

52,635

95,929

78,607

14,495

37,733

40,613

49,655

-2,347

9,290

49,611

28,332

790

28,200

50,179

33,666

8,488

18,613

28,434

10,488

20,366

36,124

24,424

25,955

13,173

4,755

22,481

14,124

6,730

23,854

Cash flows from investing activities:
Purchase of marketable securities

27,543

6,338

42,463

41,039

45,665

48,085

66,808

69,211

42,855

13,547

22,363

35,413

64,104

82,237

17,694

35,806

25,611

33,123

9,255

32,289

54,665

20,757

15,284

42,506

39,320

45,052

25,669

18,081

18,655

21,423

22,384

58,671

28,313

21,989

26,785

40,595

104,310

20,447

26,881

2,265

Proceeds from maturity of marketable securities

35,909

10,266

69,152

28,995

75,087

61,289

52,484

41,573

16,023

24,277

108,423

47,318

36,384

58,084

33,694

53,159

30,029

23,132

46,686

19,034

28,765

24,985

22,406

13,798

16,165

16,022

21,271

12,112

10,370

50,754

51,410

50,882

23,534

27,526

101,586

32,253

32,269

13,501

38,256

17,404

Purchase of fixed assets

4,715

6,151

5,769

3,287

3,930

7,255

5,739

6,468

3,561

4,798

4,257

3,297

7,997

5,951

6,530

9,218

10,776

4,894

5,698

3,415

4,178

4,614

2,151

1,865

4,357

2,354

4,085

2,270

3,556

3,443

1,951

2,721

3,236

2,060

3,649

2,143

3,309

1,572

517

2,093

Decrease in deposits

-

-

-

0

-

-

-

4

-

-

-39

9

-107

-75

-9

62

125

24

1

0

48

-2

-84

-17

-86

1

-84

46

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of intangible assets

-

-

-

-

-

-

-

-

-

-

-

-

9

2

1,000

20

3,808

2

64

88

43

39

21

71

373

560

43

110

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition of businesses, net of cash acquired

7,193

0

0

4,154

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

29,776

0

16,945

0

0

0

0

Collection of contingent consideration

-

-

-

-

-

-

-

-

-

-

-

-

0

-7,731

0

-5,133

-556

-8,750

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Capitalized software development costs

-

-

-

-

-

-

-

-

1

26

65

45

75

115

941

290

477

1,148

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash (used in) provided by investing activities

-3,492

-2,248

20,916

-19,485

25,108

5,817

-23,075

-34,102

-30,737

5,850

73,461

8,554

-35,694

-22,415

3,592

12,896

-10,213

-7,356

59,416

-16,758

-30,169

-423

5,034

-30,627

-27,799

-31,945

-8,442

-8,395

-11,921

-11,039

11,728

-10,510

-8,215

-26,299

71,152

-27,430

-75,350

-8,518

10,858

13,046

Cash flows from financing activities:
Issuance of common stock under stock plans

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

35

38

59

8

57

440

102

213

59

161

341

14

209

68

50

146

-

-

-

-

Payment of contingent consideration

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

841

841

841

840

1,516

846

0

0

0

-

-

-

-

Proceeds from the exercise of stock options

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,570

450

143

Treasury stock repurchases, including accelerated share repurchases

50,000

25,000

69,292

30,708

14,468

0

0

0

301,324

0

100,000

100,000

707

2,697

26,592

50,000

90,358

27,431

181,828

3,167

20,171

649

18,707

12,187

9,289

8,684

8,879

7,470

6,721

6,586

7,728

6,413

2,656

142

16,371

1,426

0

0

0

0

Tax withholding on restricted stock units

260

235

8,365

3,012

554

1,561

6,368

3,486

641

1,930

5,646

5,381

715

2,221

6,555

68

-

-

-

-

-1,508

289

2,602

1,431

349

306

1,006

727

-27

355

1,525

54

1,577

-754

132

10

4,835

2,763

442

198

Repayment of long-term debt

0

0

50,000

50,000

50,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

60,606

3,750

3,750

3,750

2,500

2,500

2,500

Net cash used in financing activities

-50,260

-25,235

-127,655

-83,720

-65,021

-3,889

-6,889

-3,486

-7,346

-1,929

-106,306

-105,381

-1,422

-4,917

-33,146

-50,068

-51,210

-27,344

64,495

-3,167

-21,644

-322

-16,046

-10,748

-8,883

-7,938

-7,771

-7,371

-7,530

-68,911

-6,702

-7,861

-1,716

-743

-19,939

-5,020

-1,445

1,833

-1,608

-2,159

Effect of exchange rate changes on cash and cash equivalents

-1,904

745

-1,105

-1,163

168

-1,865

822

-4,337

2,456

-370

3,251

1,048

1,234

-1,865

272

-402

1,000

27

-377

94

391

131

234

73

-69

-52

-85

-50

111

-88

-31

17

0

-10

0

0

-

-

-

-

Net (decrease) increase in cash and cash equivalents

51,577

42,596

-108,846

-54,910

40,579

36,871

-21,956

-16,405

37,909

80,408

-10,168

-43,144

60,047

49,410

-14,787

159

-19,810

14,982

121,187

-10,541

-1,811

27,718

-9,988

-13,102

13,428

-6,269

-7,810

2,797

9,094

-69,550

25,361

17,770

14,493

-1,097

64,386

-27,695

-54,314

7,439

15,980

34,741

Supplemental disclosures of cash flow information:
Cash paid for interest

3,625

3,852

4,528

5,639

5,871

6,345

5,653

5,412

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

80

-3

248

245

166

411

431

-

-

-

-

Cash paid for income taxes

2,567

3,262

4,021

3,211

4,231

2,716

2,552

3,882

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6,142

8,828

4,706

4,127

3,795

866

4,286

7,201

973

3,515

5,714

737

3,197

-

-

-

-

Non-cash transactions:
Transfers of inventory to fixed assets

0

0

1,428

862

0

0

563

1,589

0

0

1,294

4,262

0

0

2,255

2,673

-626

167

459

1,229

0

0

0

940

0

0

0

1,781

0

0

0

583

0

0

346

1,564

-

-

-

-

Additions to property, plant and equipment included in accounts payable

136

-119

-556

794

-735

-739

1,875

54

1,065

731

-939

522

184

695

-12

374

-1,381

285

-214

245

-567

260

25

95

-109

297

-67

3

-216

-120

258

232

385

88

-552

648

979

0

0

0

Gross decrease in contractual liability relating to fair value adjustment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-49

-

-50

-49

-49

-49

0

0

-135

-900

0

0

0

-

-

-

-

Gross increase in contingent consideration liability relating to fair value adjustment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

40

-

39

35

-215

115

44

221

270

900

0

0

0

-

-

-

-

Contingent consideration related to acquisition, included in accrued other

800

0

0

1,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Tenant improvement allowance

0

0

0

0

0

0

3,383

6,788

2,104

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Unsettled share repurchases, included in accounts payable

-

-

-

2,469

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-