Oclaro, inc. (OCLR)
CashFlow / TTM
Sep'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'10
Cash flows from operating activities:
Net income

46,193

62,453

112,060

139,467

150,997

127,859

83,676

45,551

15,441

8,580

-17,133

-27,408

-39,848

-56,692

-66,852

-79,587

-35,813

17,819

-5,528

-22,613

-64,359

-122,745

-79,300

-56,456

-77,029

-66,503

-99,313

-91,978

-61,363

-46,425

0

0

0

Adjustments to reconcile net income to net cash provided by operating activities:
Adjustment in fair value of earn-out obligation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,158

0

0

0

-

-

-

-

Amortization of deferred gain on sale-leaseback

787

792

786

764

749

743

747

771

809

842

878

1,127

899

914

1,224

1,302

1,846

2,134

2,106

2,080

2,254

2,059

1,838

1,570

1,088

985

943

938

939

942

0

0

0

Accretion of premiums on short-term investments

-1,248

-1,194

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of debt discount and issuance costs in connection with convertible notes payable

-

-

-

-

-

-

0

0

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on bargain purchase on acquisition of Opnext

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

24,866

0

0

0

-

-

-

-

-

-

-

-

Depreciation and amortization

32,296

30,180

27,930

25,221

22,899

21,544

19,917

18,883

17,649

16,755

16,689

16,934

17,589

18,613

18,938

20,255

22,667

26,383

31,305

35,089

38,771

42,177

38,131

34,035

28,691

22,289

21,934

21,261

20,134

18,125

0

0

0

Change in deferred tax assets, net

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Stock-based compensation expense

15,769

14,964

14,328

13,301

11,951

11,195

9,683

8,866

8,820

8,201

7,987

7,489

6,702

6,164

5,845

7,255

6,378

6,243

6,787

5,588

6,763

7,212

7,102

6,988

6,609

6,592

6,605

6,530

6,529

6,304

0

0

0

Interest make-whole charge and induced conversion expense related to convertible notes

-

-

-

-

-

8,463

8,463

8,463

8,463

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on disposal of property and equipment

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Impairment of other intangibles

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

Gain on sale of Komoro Business

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Other non-cash adjustments

51

91

-300

-303

-37

0

150

279

250

0

-22

-352

38

-161

850

-629

-433

-365

-1,895

-4,014

-4,668

-4,306

0

0

0

-

-

-

0

-

-

-

-

Changes in operating assets and liabilities:
Other non-cash and operating activities adjustments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Accounts receivable, net

-13,996

-24,086

-16,455

10,196

24,141

28,811

42,842

36,208

21,594

23,409

4,944

-3,238

7,091

-138

13,391

9,826

-29,925

-26,547

-37,673

-42,200

-11,659

-33,862

-13,114

-6,838

-28,046

-6,255

-35,270

-46,925

-20,854

-20,706

0

0

0

Inventories

-11,678

7,033

15,086

16,293

24,973

26,997

19,523

16,170

12,818

11,008

8,222

7,299

442

5,308

-6,749

-16,139

-8,511

-15,517

-17,377

-20,016

-21,842

-14,449

-6,434

7,403

-8,170

-14,898

3,348

4,723

26,281

30,921

0

0

0

Prepaid expenses and other current assets

-11,300

-6,566

-1,397

-1,174

17,694

17,940

19,464

16,159

10,244

2,383

-1,497

1,634

-9,991

-7,996

-20,857

-30,809

-8,603

6,987

25,936

35,673

34,509

15,008

11,206

6,501

-3,031

469

-1,577

-240

-289

263

0

0

0

Other non-current assets

-1,132

-699

147

-598

870

255

441

405

9

-98

-922

-401

274

267

700

290

-1,252

-1,509

-1,231

-1,818

-22

151

666

1,142

226

641

373

305

582

159

0

0

0

Accounts payable

-27,287

-16,812

-17,528

-8,296

37,170

17,819

32,126

26,028

4,878

11,293

-3,939

-2,087

-4,431

-4,873

-18,342

-35,819

-44,820

-27,179

-12,848

-12,810

-10,563

-23,393

-7,037

17,957

11,901

-5,111

-16,330

-23,069

-9,254

10,831

0

0

0

Accrued expenses and other liabilities

-7,435

-1,880

-3,229

667

4,909

9,128

5,763

3,082

4,098

-24

3,501

1,562

-24,520

-10,828

-7,785

-12,870

1,479

-14,657

-12,909

-4,580

-2,152

-2,895

175

-2,641

1,591

6,738

3,198

5,785

7,145

-1,929

0

0

0

Net cash provided by operating activities

103,907

125,054

119,088

125,681

139,493

95,554

76,798

41,421

14,368

8,105

-3,989

-8,951

-43,501

-46,253

-55,069

-63,669

-69,322

-81,184

-64,103

-69,481

-87,882

-87,498

-91,534

-70,823

-20,331

-26,673

-29,977

-17,987

-27,141

-4,638

0

0

0

Cash flows from investing activities:
Purchases of property and equipment

39,417

57,607

67,319

75,103

86,144

70,069

67,248

54,162

31,759

29,588

16,637

15,550

17,217

18,084

16,491

14,237

12,033

8,756

10,066

10,253

12,645

17,202

17,619

21,891

20,045

20,292

24,633

31,985

40,969

41,631

0

0

0

Purchases of short-term investments

144,399

219,270

226,758

189,955

144,286

69,415

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Maturities of short-term investments

228,579

180,579

143,283

77,500

57,500

32,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of business

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of property and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

209

0

0

0

Transfer (to) from restricted cash

-

-

-

-

-

1

36

-863

-1,742

-2,418

-3,306

-2,666

-2,076

-1,793

-569

2,081

2,091

2,309

-12,264

-15,490

-17,975

-17,893

-3,659

-2,838

-100

71

-260

-257

-2,228

-4,002

0

0

0

Cash acquired from business combinations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-36,123

0

0

0

-

-

-

-

10,482

0

0

0

Net cash provided by (used in) investing activities

45,479

-95,582

-149,847

-186,612

-172,700

-107,254

-107,285

-73,252

-30,017

-27,170

-11,019

-9,529

1,997

847

-1,096

2,512

70,523

169,200

186,404

184,396

130,889

66,755

68,273

66,080

42,626

6,085

-17,901

-28,150

-38,553

-47,902

0

0

0

Cash flows from financing activities:
Proceeds from the exercise of stock options

-

-

-

-

-

-

-

-

-

-

-

-

-

0

34

142

-53

-46

-125

762

916

1,646

1,738

735

774

97

130

2,150

2,249

2,704

0

0

0

Proceeds from the exercise of stock options

2,574

2,643

2,898

2,918

3,938

4,873

4,638

2,740

1,537

286

0

0

0

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Shares repurchased for tax withholdings on vesting of restricted stock units

3,908

3,738

3,764

4,335

4,427

4,426

3,812

3,605

3,396

1,641

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from the sale of common stock in connection with the public offering, net of expenses

-

-

-

-

-

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on capital lease obligations

2,798

1,186

1,181

1,280

1,672

2,183

2,745

3,176

3,065

3,151

3,503

3,591

3,824

4,153

3,970

4,248

6,846

7,073

7,227

7,504

5,681

6,676

0

0

0

-

-

-

-

-

-

-

-

Proceeds from borrowings under credit line

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

15,256

15,256

21,256

17,500

25,500

0

0

0

-

-

-

-

Cash paid under earnout obligations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

8,628

0

0

0

-

-

-

-

-

-

-

-

Repayments on borrowings under credit line and term loan

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

Net cash used in financing activities

-4,132

-2,281

-2,047

-2,697

-2,161

133,417

133,234

131,112

130,229

-4,506

-5,453

56,958

57,167

56,830

57,651

-4,106

-6,899

-72,083

-64,754

-64,905

-36,404

30,781

21,720

28,956

4,182

22,835

25,630

21,650

21,749

2,704

0

0

0

Effect of exchange rate on cash, cash equivalents and restricted cash

695

-773

-1,288

-2,015

-1,241

1,624

5,235

9,457

8,858

7,660

6,733

1,043

170

1,443

882

-1,760

3,020

-1,595

280

13,474

11,701

12,837

10,612

235

-3,845

-3,270

-2,060

836

3,879

5,443

0

0

0

Net increase (decrease) in cash, cash equivalents and restricted cash

145,949

26,418

-34,094

-65,643

-36,609

123,341

107,982

108,738

123,438

-15,911

-13,728

39,521

15,833

12,867

2,368

-67,023

-2,678

14,338

57,827

63,484

18,304

22,875

9,071

24,448

22,632

-1,023

-24,308

-23,651

-40,066

-44,393

0

0

0

Supplemental disclosures of cash flow information:
Cash paid for interest make-whole and induced conversion charges related to the exercise of convertible notes

-

-

-

-

-

4,700

4,700

4,700

4,700

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Supplemental disclosures of non-cash transactions:
Issuance of common stock in exchange for the net carrying value of the liability component of convertible notes

-

-

-

-

-

62,125

62,125

62,125

62,125

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Unpaid property and equipment in accounts payable

0

-

0

0

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Capital lease obligations incurred for purchases of property and equipment

1,465

1,259

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

658

0

0

0

-

-

-

-

-

-

-

-

Issuance of common stock to settle liability

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-