Orthofix medical inc. (OFIX)
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'11
Cash flows from operating activities
Net income

25,665

11,686

-40,498

-547

897

8,871

-1,211

925

5,226

1,568

3,456

3,853

-2,654

-3,236

9,896

-7,444

3,840

-

-

-

-

-

-

-

-

-10,412

-18,836

-3,011

3,447

21,175

5,016

7,254

9,407

-4,233

12,378

9,958

-35,801

Adjustments to reconcile net income to net cash from operating activities
Depreciation and amortization

6,327

6,519

6,275

6,178

5,727

4,998

4,738

4,554

4,369

4,703

4,974

5,372

5,075

5,358

5,480

5,130

4,873

-

-

-

-

-

-

-

-

7,237

5,300

5,218

5,067

5,117

4,497

5,401

5,717

5,906

5,952

5,985

5,339

Amortization of operating lease assets, debt costs, and other assets

1,005

-

974

977

773

-

226

217

375

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Provision for expected credit losses

679

-

-

-

46

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of debt costs and other assets

-

-

-

-

-

-

-

-

-

640

353

359

360

310

318

754

187

-

-

-

-

-

-

-

-

180

180

180

180

181

181

1,079

296

301

295

394

249

Amortization of exclusivity agreements

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

477

381

377

311

-

-

-

-

-

-

-

-

Provision for doubtful accounts

-

-

-

-

-

-28

-211

-325

-35

84

735

288

532

58

102

248

709

-

-

-

-

-

-

-

-

1,836

562

824

1,368

-3,707

695

2,002

3,222

-2,477

2,512

2,712

1,833

Deferred income taxes

-1,027

4,702

-993

-734

-1,582

2,421

-5,806

447

277

21,133

-4,131

-790

5,074

9,214

559

-266

953

-

-

-

-

-

-

-

-

3,052

-445

228

-6

9,113

-2,338

-352

-2,652

-11,636

375

-1,824

-856

Share-based compensation

3,859

4,162

5,844

5,849

5,685

4,538

5,261

5,215

3,916

3,433

3,632

2,676

2,816

3,812

8,142

1,913

2,099

-

-

-

-

-

-

-

-

1,553

1,277

1,494

1,943

1,469

2,096

1,305

1,433

1,290

1,361

2,488

1,509

Interest and loss on valuation of investment securities

-219

0

-6,023

430

593

0

-4,449

-230

1,629

-11,170

0

0

5,585

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in fair value of contingent consideration

-9,000

1,000

22,270

470

5,400

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Provision for inventory obsolescence

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,349

1,318

798

Excess income tax benefit on employee stock-based awards

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

4

78

-1,301

1,165

1,545

-389

162

571

419

585

Other

744

-1,126

-830

109

-586

-593

-193

-639

-208

-575

-251

-330

-242

-398

109

568

-1,340

-

-

-

-

-

-

-

-

-5,701

3,517

-1,931

-421

-8,151

-2,065

3,642

1,776

-994

-969

1,044

-1,379

Changes in operating assets and liabilities, net of effects of acquisitions
Accounts receivable

-6,712

7,739

-237

1,508

2,027

3,481

-138

-4,562

4,925

2,260

515

1,713

2,074

5,495

-3,444

1,484

-3,927

-

-

-

-

-

-

-

-

1,812

-15,549

-5,160

-9,665

-3,041

2,687

6,059

5,423

-22,391

10,393

6,610

-1,257

Inventories

848

717

2,606

-88

2,477

-2,818

-1,629

-3,587

-1,664

931

3,595

8,369

2,750

-1,354

3,664

1,037

1,937

-

-

-

-

-

-

-

-

-5,564

-2,701

9,372

2,106

709

1,945

-3,780

1,510

-1,805

2,087

4,465

7,958

Escrow receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

41,537

-31,976

-260

-38

-288

Prepaid expenses and other current assets

496

5,335

-4,914

4,704

-1,427

2,625

-1,427

2,095

-2,166

7,729

822

-2,402

203

-1,269

908

385

-725

-

-

-

-

-

-

-

-

-2,359

-1,190

-372

-4,843

13,804

2,705

6,777

-8,711

73

1,249

-1,697

-2,007

Other long-term assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,904

-69

-59

1,553

-

-

-

21

-

-

-

-

Accounts payable

28

1,691

-1,179

-257

1,883

2,618

1,059

612

-4,459

4,557

-1,283

-1,964

1,014

520

588

473

-3,352

-

-

-

-

-

-

-

-

5,748

-4,576

3,795

-7,247

3,590

6,352

-1,326

-4,041

4,502

132

-2,497

185

Charges related to U.S. Government resolutions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

43,101

0

0

46,000

Other current liabilities

-1,333

-8,063

8,485

4,301

-12,439

5,567

1,482

-3,302

-11,310

227

7,768

3,846

-23,253

1,035

-5,162

19,558

-8,894

-

-

-

-

-

-

-

-

-2,516

-2,310

11,957

-162

-7,115

337

7,083

-5,544

-2,594

5,430

-3,031

3,711

Payment of contingent consideration

-

0

0

0

1,340

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other long-term assets and liabilities

18,582

-827

-947

783

3,005

5,787

-843

-217

-597

-3,847

-2,944

33

663

-3,356

1,663

165

-176

-

-

-

-

-

-

-

-

76

1,048

-125

-1,039

-

-

-

-

-

-

-

-

Net cash from operating activities

12,464

11,943

11,746

9,383

-1,039

21,089

15,797

16,592

-3,560

29,847

13,767

6,257

-10,899

20,680

17,023

16,727

4,646

17,071

17,585

6,411

2,543

15,198

18,092

28,086

-10,212

15,139

17,766

19,083

15,054

-58,233

10,638

8,790

48,967

25,134

16,193

4,624

18,779

Cash flows from investing activities
Acquisition of a business

18,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of debt securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

15,250

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

4,800

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition of business, net of cash acquired

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

5,250

Capital expenditures for property, plant and equipment

4,285

5,260

4,142

4,952

4,643

4,006

3,804

2,951

2,831

3,224

4,406

3,314

3,721

3,498

3,334

3,517

6,083

6,217

7,487

8,419

5,074

6,745

5,186

2,447

3,691

5,360

6,601

6,797

6,029

9,782

5,418

6,422

6,372

8,139

5,863

5,416

5,547

Capital expenditures for intangible assets

659

383

401

470

273

526

268

263

607

434

291

1,374

184

575

571

440

316

483

136

44

39

286

51

73

46

366

3,874

607

44

358

208

63

151

298

160

229

106

Asset acquisitions and other investments

1,240

-4,000

0

0

6,400

0

300

-69

1,217

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other investing activities

-

-

-

-

-

-

-

-

-

-

0

0

-474

0

0

2,613

1,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net proceeds from sale of other investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

32

-

-

506

-506

-

-

-

-

-

-

-

-

Net cash from investing activities

-24,184

-1,643

-4,543

-5,422

-11,316

-5,077

-4,372

-46,894

-4,655

-3,658

-4,697

-4,688

-3,431

-4,073

-3,905

-6,570

-7,399

-6,700

-7,623

-8,463

-15,563

-7,031

-6,694

-2,520

-3,705

-5,868

-10,931

-7,674

-6,579

-9,976

-4,945

146,607

-6,523

-8,905

-6,023

-5,645

-10,903

Proceeds from issuance of common shares

948

4,730

298

192

6,331

1,234

450

1,038

4,378

1,506

995

1,406

3,876

32

4,860

9,072

5,756

2,148

1,460

-64

1,710

741

813

3,978

5,542

19

1,243

45

2,143

1,180

11,066

6,699

6,641

1,223

5,437

6,127

7,326

Payments related to withholdings for share-based compensation

136

922

962

1,011

2,298

1,023

1,027

859

516

121

828

772

2,079

53

561

779

1,014

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of contingent consideration

-

0

0

0

13,660

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments related to finance lease obligation

92

89

88

89

99

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other financing activities

-405

-

-277

-277

-670

-

-120

-191

-165

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of long-term debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

20,000

164,945

3,750

3,750

1,250

1,250

1,250

Repayment of bank borrowings, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-1

-15

-261

-205

-900

69

81

-989

233

-1,886

Changes in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

27,253

7,171

361

10,383

-25,908

4,502

-1,004

-2,092

8,862

-8,141

46,018

5,612

6,440

-32,271

-9,890

-12,003

157

-2,442

Repurchase and retirement of common shares

-

-

-

-

-

-

-

-

-

-

-

-

-

8,429

11,111

17,421

26,464

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash payment for purchase of minority interest in subsidiary

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

517

Excess income tax benefit on employee stock-based awards

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-3

57

-

162

11

29

0

0

4

78

-1,301

1,165

767

389

162

571

419

585

Net cash from financing activities

315

1,922

-1,029

-1,185

-10,396

5

-697

-12

3,697

940

167

634

1,797

-8,450

-6,812

-9,128

-21,722

-9,642

-1,754

27,186

8,938

288

-8,642

-21,919

10,073

-985

-13,475

-17,958

-5,935

45,636

-2,362

-151,939

-28,922

-12,174

-8,234

4,928

1,816

Effect of exchange rate changes on cash

-730

678

-814

159

-230

-70

-172

-1,056

417

103

358

475

244

-1,040

36

-393

658

-760

-460

1,028

-2,949

-1,465

-1,850

155

37

-91

1,000

44

-433

232

152

-422

324

-332

-401

191

134

Net change in cash, cash equivalents, and restricted cash

-12,135

12,900

5,360

2,935

-22,981

15,947

10,556

-31,370

-4,101

27,232

9,595

2,678

-12,289

7,117

6,342

636

-23,817

-31

7,748

26,162

-7,031

6,990

906

3,802

-3,807

8,195

-5,640

-6,505

2,107

-22,341

3,483

3,036

13,846

3,723

1,535

4,098

9,826

Supplemental disclosure of cash flow information:
Noncash investing activities:
Intangible assets acquired in asset acquisitions

-

-

-

-

-

434

400

0

1,181

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-