| Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||
Net income | ||||||||
130,887 | 78,995 | 56,716 | 35,264 | 39,161 | -46,537 | 47,017 | 34,289 | -19,756 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||
Income from discontinued operations | ||||||||
- | - | - | - | - | - | 1,363 | -8,717 | -3,914 |
Depreciation and amortization | ||||||||
44,543 | 44,756 | 45,282 | 30,333 | 13,261 | 17,919 | 19,918 | 23,665 | 29,977 |
IMPAIRMENT OF INTANGIBLE ASSETS | ||||||||
- | - | - | - | - | 30,142 | - | - | - |
Compensation relating to equity awards granted | ||||||||
9,876 | 6,356 | 3,816 | 3,192 | 3,182 | 3,070 | 3,728 | 4,725 | 6,445 |
Decrease (increase) in liability for employee rights upon retirement, net | ||||||||
-1,028 | -943 | 113 | 1,553 | -624 | -640 | -562 | 2,589 | - |
Long-term loans discount amortization | ||||||||
- | 1,866 | 897 | 237 | - | - | - | - | - |
Deferred financing costs amortization | ||||||||
479 | 5,692 | 2,010 | 612 | - | - | - | - | - |
Capital loss from disposal of property, plant and equipment | ||||||||
- | - | - | -645 | - | - | - | - | - |
Deferred income taxes | ||||||||
29,241 | 2,693 | 2,024 | -1,253 | 1,558 | 5,440 | -2,584 | 3,866 | - |
Loss from sale and write-down of marketable securities | ||||||||
- | - | - | - | - | - | - | 1,252 | -2,866 |
Amortization of premium and accretion of discount on marketable securities, net | ||||||||
-167 | -145 | -145 | -656 | -554 | -588 | - | - | - |
Equity in earnings of Frontline, net of dividends received | ||||||||
727 | -1,261 | 540 | -468 | -446 | 1,232 | 221 | - | - |
Adjustment of impairment of goodwill | ||||||||
- | - | - | - | - | - | - | - | -3,300 |
Other | ||||||||
-127 | -751 | -1,014 | -597 | -268 | -1,498 | -1,224 | 1,147 | -38 |
Gain from PixCell step acquisition | ||||||||
478 | - | - | - | - | - | - | - | - |
Increase (decrease) in liability for employee rights upon retirement | ||||||||
- | - | - | - | - | - | - | - | -2,633 |
Deferred income taxes | ||||||||
- | - | - | - | - | - | - | - | -531 |
Non cash expenses in respect of restructuring | ||||||||
- | - | - | - | - | 601 | - | - | -3,169 |
Loss from sales of marketable securities | ||||||||
- | - | - | -339 | - | - | -395 | - | - |
GAIN FROM THE SALE OF THE THERMAL PRODUCTS BUSINESS | ||||||||
- | - | 628 | - | - | - | - | - | - |
Gain from release of AMST earn-out of payment obligation | ||||||||
1,471 | - | - | - | - | - | - | - | - |
Increase in accounts receivable: | ||||||||
Trade | ||||||||
36,496 | 41,607 | 37,067 | 17,440 | 33,721 | -31,725 | 42,709 | 5,755 | -30,882 |
Other | ||||||||
10,568 | 2,921 | 5,507 | 2,075 | 2,954 | 2,708 | -2,694 | 4,673 | -7,850 |
Increase in accounts payable and accruals: | ||||||||
Trade | ||||||||
24,030 | 6,898 | 353 | 2,140 | 11,377 | -4,780 | 5,498 | 1,434 | -9,852 |
Deferred income | ||||||||
- | - | - | - | - | - | 1,489 | 7,085 | -5,137 |
Other (including other long-term tax liabilities) | ||||||||
36,845 | 7,994 | 13,915 | 9,326 | 8,045 | -6,166 | 5,070 | 8,785 | -6,828 |
Increase (decrease) in deferred income | ||||||||
8,869 | -1,056 | -7,770 | 1,346 | -7,466 | -8,522 | - | - | - |
Decrease (increase) in inventories | ||||||||
47,914 | -1,080 | -18,765 | 13,984 | 190 | -11,925 | -6,870 | 19,018 | -23,377 |
Net cash provided by operating activities | ||||||||
129,956 | 108,460 | 89,264 | 51,356 | 45,961 | 21,443 | 51,632 | 58,082 | 54,143 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||
Net cash used in operating activities - discontinued operations | ||||||||
- | - | - | - | - | - | -787 | -8,972 | -1,134 |
Net cash provided by operating activities | ||||||||
- | - | - | - | - | - | 50,845 | 49,110 | 53,009 |
Purchase of property, plant and equipment | ||||||||
24,445 | 23,550 | 19,348 | 12,500 | 12,978 | 9,484 | 7,524 | 6,752 | 3,670 |
Purchase of intellectual property | ||||||||
700 | - | - | - | - | - | - | - | - |
Proceeds from sale of property, plant and equipment | ||||||||
157 | - | - | - | - | - | - | - | - |
Consideration received from the sale of the Thermal Products Business | ||||||||
- | 12,000 | 10,000 | - | - | - | - | - | - |
Earn out income | ||||||||
- | - | - | - | - | - | - | - | 3,300 |
Withdrawal (deposit) of bank deposits | ||||||||
3,326 | -8,761 | -450 | -28,650 | 35,636 | -142,278 | 142,325 | 2,780 | - |
Purchase of marketable securities | ||||||||
1,994 | 5,553 | 1,099 | 15,152 | 9,936 | 18,167 | - | - | - |
Redemption and sale of marketable securities | ||||||||
1,004 | 4,337 | 821 | 26,586 | 6,037 | 2,553 | 1,967 | - | 9,894 |
Acquisition of SPTS, net of cash acquired | ||||||||
- | - | - | 375,061 | - | - | - | - | - |
Investment in equity method investee | ||||||||
- | 1,000 | 1,500 | 250 | 2,250 | - | 2,810 | - | - |
Step acquisition of subsidiary consolidated for the first time | ||||||||
102 | - | - | - | - | - | - | - | - |
Redemption (purchase) of marketable securities | ||||||||
- | - | - | - | - | - | - | -6,742 | - |
Other investments | ||||||||
- | - | - | - | - | - | - | - | 0 |
Proceeds from disposal of property, plant and equipment | ||||||||
- | - | - | 15 | 39 | 3,034 | 35 | 20 | - |
Acquisition of AMST | ||||||||
- | 6,429 | - | - | - | - | - | - | - |
Withdrawal (deposit) of funds in respect of employee rights upon retirement | ||||||||
-1,250 | 249 | 510 | - | - | - | - | - | - |
Decrease (increase) in restricted cash | ||||||||
- | - | - | 10,000 | - | - | - | - | - |
Increase (decrease) in funds in respect of employee rights upon retirement | ||||||||
- | - | - | -260 | -262 | -254 | 199 | -617 | 1,236 |
Net cash used in investing activities | ||||||||
-30,452 | -11,185 | -10,166 | -357,972 | -54,986 | 119,960 | -150,458 | -3,387 | 10,760 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||
Long term loan, net of $8.0 million financing costs | ||||||||
- | - | - | 288,918 | - | - | - | - | - |
Net cash provided by investing activities - discontinued operations | ||||||||
- | - | - | - | - | - | 9,155 | -268 | -229 |
Net cash provided by (used in) investing activities | ||||||||
- | - | - | - | - | - | -141,303 | -3,655 | 10,531 |
Repayment of long-term loan | ||||||||
- | 239,635 | 59,615 | 750 | 64,000 | 32,000 | 32,000 | 32,000 | - |
Repayment of bank loan | ||||||||
16,364 | 20,000 | - | - | - | - | - | - | - |
Bank loan, net of financing costs | ||||||||
- | 108,031 | - | - | - | - | - | - | - |
Issuance of shares, net | ||||||||
- | 99,962 | - | - | - | - | - | - | - |
Repayment of long-term liability | ||||||||
- | - | - | - | - | - | - | - | 2,667 |
Issuance of shares, net | ||||||||
- | - | - | - | - | - | 90,683 | - | 0 |
Share options exercised | ||||||||
3,884 | 7,427 | 9,869 | 8,253 | 3,312 | 719 | 2,063 | 902 | 1,408 |
Acquisition of treasury shares | ||||||||
- | - | - | 14,593 | 25,795 | 1,959 | - | - | - |
Acquisition of non-controlling interest | ||||||||
- | - | - | - | - | - | - | 511 | - |
Net cash used in financing activities | ||||||||
-12,480 | -44,215 | -49,746 | 281,828 | -86,483 | -33,240 | 60,746 | -31,609 | -1,259 |
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | ||||||||
87,024 | 53,060 | 29,352 | - | - | - | - | - | - |
Net cash provided by (used in) financing activities | ||||||||
- | - | - | - | - | - | 60,746 | -31,609 | -1,259 |
CURRENCY TRANSLATION ADJUSTMENTS ON CASH AND CASH EQUIVALENTS | ||||||||
- | - | - | - | - | - | - | -220 | -175 |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | ||||||||
- | - | - | -24,788 | -95,508 | 108,163 | -29,712 | 13,626 | 62,106 |
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ||||||||
Interest paid | ||||||||
2,489 | 6,722 | 14,278 | 6,274 | 1,307 | 3,495 | 5,239 | 6,354 | 4,416 |
Income taxes paid | ||||||||
18,395 | 16,451 | 10,138 | 9,387 | 7,739 | 5,970 | 3,637 | 4,791 | 2,371 |
Income taxes refunded | ||||||||
499 | 385 | 519 | 897 | 371 | 390 | 2,437 | 2,417 | 3,182 |
Purchase of property, plant and equipment on credit | ||||||||
1,829 | 399 | 2,041 | 2,852 | 908 | 1,635 | 1,300 | - | - |