NETSCOUT SYSTEMS, INC. NTCT Cash Flow

Netscout systems, inc. (NTCT)

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	Dec'10	Sep'10	Jun'10
Cash flows from operating activities:
Net income (loss)
-2,754	9,121	-31,207	-40,163	-73,324	-75,718	17,570	41,530	79,812	85,305	16,865	18,067	33,291	7,365	-38,387	-45,036	-28,369	-3,899	38,237	57,385	61,192	57,014	56,679	55,329	49,106	46,983	40,827	40,854	40,609	39,003	37,896	35,037	32,428	30,252	31,322	32,519	37,265	0	0	0
Adjustments to reconcile net income (loss) to cash provided by operating activities, net of the effects of acquisitions:
Depreciation and amortization
116,104	118,766	121,986	126,866	137,878	147,153	152,852	156,137	153,503	152,833	155,491	158,402	160,863	163,292	168,855	175,259	140,071	102,928	61,753	19,819	19,709	18,935	18,501	18,277	18,260	17,412	17,907	17,948	17,464	18,277	17,734	17,236	16,642	15,699	14,979	14,186	13,877	0	0	0
Operating lease right-of-use assets
10,504	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on disposal of fixed assets
-16	-95	-86	-197	-260	-204	-234	-133	-481	-630	-634	-644	-271	-102	30	-162	-134	105	-522	-310	-300	-537	-2	-15	-39	-71	-117	-104	-104	-90	-65	-122	-168	-185	-178	-179	-127	0	0	0
Deal related compensation expense and accretion charges
0	0	26	64	102	141	153	153	153	153	153	153	153	152	152	6,729	6,728	6,729	6,729	152	153	151	154	153	151	172	196	223	263	0	0	0	-	-	-	0	-	-	-	-
Share-based compensation expense associated with equity awards
50,861	52,147	54,545	56,106	56,328	56,205	54,871	50,051	47,317	44,172	42,216	41,288	39,189	38,222	36,055	31,888	28,351	25,033	20,881	17,873	16,580	14,918	13,985	13,420	12,930	12,296	11,543	10,156	9,591	9,788	9,494	8,739	8,651	8,417	7,707	7,420	6,439	0	0	0
Net change in fair value of contingent and contractual liabilities
798	2,155	2,155	2,155	1,614	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-10	-23	-34	-48	-303	-223	-168	67	466	0	0	0	-	-	-	0	-	-	-	-
Accretion of contingent consideration
36	79	133	137	119	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment charge
0	0	0	0	35,900	35,900	35,900	35,900	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income taxes
-9,821	-14,255	-14,098	-18,306	-33,442	-55,409	-132,738	-133,526	-127,784	-72,793	-3,015	-8,244	-11,008	-87,359	-71,615	-53,688	-42,121	7,566	5,142	1,566	2,736	3,106	5,151	6,005	5,214	1,931	1,822	2,093	3,909	8,416	8,184	7,641	5,437	6,790	2,284	2,515	3,459	0	0	0
Other (gains) losses
152	-89	29	27	152	256	922	804	-18	-328	-858	-522	111	658	577	338	279	-92	-144	-182	-168	-67	-6	51	86	56	-11	17	3	34	7	46	53	0	0	0	-	-	-	-
Changes in assets and liabilities
Accounts receivable and unbilled costs
-21,472	-2,194	18,568	-4,973	22,180	-3,585	-31,997	-23,319	-84,952	-37,961	-27,564	-10,735	48,080	35,327	69,318	-3,769	23,259	25,362	-20,210	25,623	21,801	9,220	-5,864	-18,014	-13,451	12,350	22,499	7,841	-82	8,056	-23,272	-5,015	3,997	-10,180	7,770	584	-2,755	0	0	0
Due from related party
0	-1	1,547	1,364	-172	-60	-1,608	-1,979	-443	-930	-2,839	-27,039	-25,055	-11,973	-33,165	20,467	18,483	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Inventories
-1,501	-1,405	-1,945	-4,251	-5,321	-4,911	-2,946	-5,605	-1,006	-13,777	-11,169	-11,433	-12,456	2,187	1,406	-3,615	-5,523	-3,309	-9,540	2,917	499	93	4,723	1,028	6,798	5,481	2,608	3,669	-1,433	-2,961	-151	-1,282	892	2,262	-539	2,539	1,092	0	0	0
Prepaid income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Prepaid expenses and other assets
-13,839	-8,409	-9,572	-10,698	-3,034	3,595	-26,566	-17,873	-20,147	3,014	18,646	20,474	24,751	-14,449	503	41,564	29,481	38,369	35,553	-2,432	2,169	4,329	5,868	1,532	2,841	-11,094	-8,482	-5,993	-5,391	4,433	4,769	-778	875	3,756	233	2,021	-404	0	0	0
Other assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Accounts payable
-4,288	-9,105	15,741	696	-3,876	-2,969	-10,355	-7,009	-8,929	-7,418	-12,101	-11,579	405	-8,891	11,760	8,821	2,334	15,725	-2,431	1,284	1,355	2,053	1,783	-2,030	1,498	-463	-5,155	-1,289	-2,345	-2,580	433	1,866	-2,195	1,617	2,146	-1,778	2,583	0	0	0
Accrued compensation and other expenses
32,812	7,588	181	-1,934	19,964	29,551	5,775	8,635	-17,718	-15,025	12,746	4,106	6,785	940	7,354	36,097	33,250	38,337	24,416	3,872	13,233	14,607	13,287	7,139	6,734	6,598	5,082	3,458	10,739	9,440	6,618	6,187	1,637	1,544	734	884	3,438	0	0	0
Operating lease liabilities
13,077	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Due to related party
0	2	237	-16	234	239	-246	197	-75	-2,368	-45	-3,518	-2,792	-2,920	-16,835	-6,039	-6,743	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income taxes payable
-919	1,139	1,072	1,328	-639	-3,202	-6,262	-4,801	-2,734	3,839	7,201	2,153	1,963	855	548	3,865	3,910	0	0	147	-684	-705	0	0	677	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Deferred revenue
8,163	19,990	24,813	21,602	15,132	-1,047	-4,201	-4	-8,138	5,537	2,668	10,939	33,075	71,440	83,278	22,581	25,645	-15,668	-43,338	11,542	16,670	10,483	8,048	6,870	12,914	10,961	10,466	9,821	7,595	16,981	6,254	14,560	10,308	-1,168	2,714	-375	-2,066	0	0	0
Net cash provided by operating activities
225,023	198,114	165,588	173,776	149,838	143,050	183,099	195,339	222,454	244,847	246,597	241,666	226,764	171,448	142,496	125,654	97,211	106,209	84,886	88,023	106,933	107,501	112,835	120,533	110,946	89,201	66,023	77,901	95,412	91,402	106,869	99,676	68,307	66,364	54,533	48,090	67,189	0	0	0
Cash flows from investing activities:
Purchase of marketable securities
117,383	135,505	177,252	201,597	229,769	226,959	192,421	147,976	114,178	135,427	204,117	199,448	199,841	161,348	112,234	103,795	100,278	129,332	116,966	122,995	133,212	117,867	142,162	152,547	128,122	107,457	83,828	80,543	121,133	130,791	131,357	135,758	117,682	193,679	192,137	192,233	153,903	0	0	0
Proceeds from maturity of marketable securities
144,322	183,500	234,523	217,855	230,433	171,369	134,357	190,296	196,041	216,402	250,209	175,480	181,321	174,966	140,014	153,006	118,881	117,617	119,470	95,190	89,954	77,354	68,391	67,256	65,570	59,775	94,507	124,646	163,416	176,580	153,352	203,528	184,899	193,634	179,609	116,279	101,430	0	0	0
Purchase of fixed assets
19,922	19,137	20,241	20,211	23,392	23,023	20,566	19,084	15,913	20,349	21,502	23,775	29,696	32,475	31,418	30,586	24,783	18,185	17,905	14,358	12,808	12,987	10,727	12,661	13,066	12,265	13,354	11,220	11,671	11,351	9,968	11,666	11,088	11,161	10,673	7,541	7,491	0	0	0
Decrease in deposits
-	-	-	0	-	-	-	0	-	-	-212	-182	-129	103	202	212	150	73	47	-38	-55	-189	-186	-186	-123	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of intangible assets
-	-	-	-	-	-	-	-	-	-	-	-	1,031	4,830	4,830	3,894	3,962	197	234	191	174	504	1,025	1,047	1,086	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition of businesses, net of cash acquired
11,347	4,154	4,154	4,154	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	46,721	46,721	16,945	16,945	0	0	0	0
Collection of contingent consideration
-	-	-	-	-	-	-	-	-	-	-	-	-12,864	-13,420	-14,439	-14,439	-9,306	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Capitalized software development costs
-	-	-	-	-	-	-	-	137	211	300	1,176	1,421	1,823	2,856	1,915	1,625	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash (used in) provided by investing activities
-4,309	24,291	32,356	-11,635	-26,252	-82,097	-82,064	14,472	57,128	52,171	23,906	-45,963	-41,621	-16,140	-1,081	54,743	25,089	5,133	12,066	-42,316	-56,185	-53,815	-85,337	-98,813	-76,581	-60,703	-39,797	-19,627	-21,742	-18,036	-33,296	26,128	9,208	-57,927	-40,146	-100,440	-59,964	0	0	0
Cash flows from financing activities:
Issuance of common stock under stock plans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	140	162	564	607	812	814	535	774	575	725	632	341	473	0	0	0	-	-	-	-
Payment of contingent consideration
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	841	1,682	2,523	3,363	4,038	4,043	3,202	2,362	846	0	0	0	-	-	-	-
Proceeds from the exercise of stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Treasury stock repurchases, including accelerated share repurchases
175,000	139,468	114,468	45,176	14,468	301,324	301,324	401,324	501,324	200,707	203,404	129,996	79,996	169,647	194,381	349,617	302,784	232,597	205,815	42,694	51,714	40,832	48,867	39,039	34,322	31,754	29,656	28,505	27,448	23,383	16,939	25,582	20,595	17,939	17,797	1,426	0	0	0	0
Tax withholding on restricted stock units
11,872	12,166	13,492	11,495	11,969	12,056	12,425	11,703	13,598	13,672	13,963	14,872	9,559	0	0	0	-	-	-	-	2,814	4,671	4,688	3,092	2,388	2,012	2,061	2,580	1,907	3,511	2,402	1,009	965	4,223	7,740	8,050	8,238	0	0	0
Repayment of long-term debt
100,000	150,000	150,000	100,000	50,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	68,106	71,856	13,750	12,500	11,250	0	0	0
Net cash used in financing activities
-286,870	-301,631	-280,285	-159,519	-79,285	-21,610	-19,650	-119,067	-220,962	-215,038	-218,026	-144,866	-89,553	-139,341	-161,768	-64,127	-17,226	12,340	39,362	-41,179	-48,760	-35,999	-43,615	-35,340	-31,963	-30,610	-91,583	-90,514	-91,004	-85,190	-17,022	-30,259	-27,418	-27,147	-24,571	-6,240	-3,379	0	0	0
Effect of exchange rate changes on cash and cash equivalents
-3,427	-1,355	-3,965	-2,038	-5,212	-2,924	-1,429	1,000	6,385	5,163	3,668	689	-761	-995	897	248	744	135	239	850	829	369	186	-133	-256	-76	-112	-58	9	-102	-24	7	-10	0	0	0	-	-	-	-
Net (decrease) increase in cash and cash equivalents
-69,583	-80,581	-86,306	584	39,089	36,419	79,956	91,744	65,005	87,143	56,145	51,526	94,829	14,972	-19,456	116,518	105,818	123,817	136,553	5,378	2,817	18,056	-15,931	-13,753	2,146	-2,188	-65,469	-32,298	-17,325	-11,926	56,527	95,552	50,087	-18,720	-10,184	-58,590	3,846	0	0	0
Supplemental disclosures of cash flow information:
Cash paid for interest
17,644	19,890	22,383	23,508	23,281	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	325	570	656	1,070	1,253	0	0	0	-	-	-	-
Cash paid for income taxes
13,061	14,725	14,179	12,710	13,381	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	23,803	21,456	13,494	13,074	16,148	13,326	15,975	17,403	10,939	13,163	0	0	0	-	-	-	-
Non-cash transactions:
Transfers of inventory to fixed assets
2,290	2,290	2,290	1,425	2,152	2,152	2,152	2,883	5,556	5,556	5,556	6,517	4,928	4,302	4,469	2,673	1,229	1,855	1,688	1,229	940	940	940	940	1,781	1,781	1,781	1,781	583	583	583	929	1,910	0	0	0	-	-	-	-
Additions to property, plant and equipment included in accounts payable
255	-616	-1,236	1,195	455	2,255	3,725	911	1,379	498	462	1,389	1,241	-324	-734	-936	-1,065	-251	-276	-37	-187	271	308	216	124	17	-400	-75	154	755	963	153	569	1,163	1,075	1,627	979	0	0	0
Gross decrease in contractual liability relating to fair value adjustment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-197	-147	-98	-184	-1,035	-1,035	-1,035	-900	0	0	0	-	-	-	-
Gross increase in contingent consideration liability relating to fair value adjustment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-26	-21	165	650	1,435	1,391	1,170	900	0	0	0	-	-	-	-
Contingent consideration related to acquisition, included in accrued other
1,800	1,000	1,000	1,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Tenant improvement allowance
0	0	0	3,383	10,171	12,275	12,275	8,892	2,104	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Unsettled share repurchases, included in accounts payable
-	-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-