SHIRE PLC SHPG Cash Flow

Shire plc (SHPG)

CashFlow / Quarterly

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	Mar'10	Dec'09	Sep'09	Jun'09	Mar'09
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income
537,200	615,500	550,600	3,105,400	550,800	240,300	375,000	457,300	-386,800	-162,100	419,000	280,600	452,800	159,600	410,400	2,172,300	479,700	523,100	230,400	64,000	278,200	258,100	64,800	42,000	227,200	237,800	238,400	255,300	192,900	205,500	211,300	165,300	96,500	160,300	165,900	174,300	59,600	44,000	213,500
Adjustments to reconcile net income to net cash provided by operating activities:
Loss from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-9,800	-2,600
Depreciation and amortization
591,300	592,600	624,200	620,200	602,300	554,800	486,900	588,500	448,000	260,900	168,900	179,800	165,600	171,200	120,600	100,200	102,300	110,200	94,600	95,000	78,200	76,200	75,000	77,100	79,100	79,400	73,000	82,500	80,000	68,800	63,500	66,300	60,100	64,800	64,300	72,800	59,700	62,400	55,300
Share based compensation
48,800	45,900	41,000	15,200	53,300	53,700	52,700	48,900	74,800	176,500	18,300	29,500	26,500	29,000	15,300	18,700	22,600	29,500	26,200	22,200	18,800	19,800	16,600	22,100	21,600	21,400	22,000	21,000	19,800	19,200	15,700	18,000	17,500	12,600	14,100	15,600	16,900	17,400	15,800
Amortization of deferred financing fees
-	-	-	-	-	-	-	3,800	71,600	30,100	20,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment of PP&E
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	12,100	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of non-current investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	11,100	0	0	0	55,200
Gain on sale of product rights
-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,200	-	46,000	3,800	36,400	1,300	3,600	4,500	6,500	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Expense related to the unwind of inventory fair value adjustments
1,600	5,800	33,500	59,100	63,300	145,000	480,400	20,700	803,800	280,700	12,800	8,100	6,700	5,100	11,200	-	18,100	33,700	38,800	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in deferred taxes
-219,100	154,500	50,400	2,524,000	99,100	157,800	135,500	47,700	217,700	319,100	10,100	19,900	98,900	96,000	-16,600	77,400	-37,800	-6,800	-18,500	366,000	5,100	-19,800	-1,400	27,900	6,300	3,300	20,800	1,300	30,900	24,500	-42,200	63,700	10,100	-6,600	-52,200	11,300	41,800	79,400	-33,700
Change in fair value of contingent consideration
-54,500	-27,000	-18,900	23,600	3,400	-151,200	3,500	-45,900	-10,200	56,400	-11,400	-46,600	-59,200	258,100	-2,400	11,600	-47,700	80,600	-59,200	130,700	14,700	11,900	1,800	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment of PP&E and intangible assets
16,200	15,800	137,500	122,300	114,000	53,600	0	-	-	-	-	-	-	-	-	2,300	0	22,000	166,000	0	0	19,900	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Goodwill impairment charge
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	191,800	0	0	7,100	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Other, net
-39,900	60,700	-13,600	43,600	-77,600	8,400	-30,000	3,900	-52,900	3,100	14,500	-23,200	22,900	2,400	-2,100	44,400	-2,400	-14,400	300	-15,300	2,800	1,200	-100	-5,600	2,500	-10,200	5,900	-10,200	-8,100	-3,300	5,500	-14,300	-5,800	5,800	5,200	-26,100	5,200	3,000	3,300
Equity in losses/(earnings) of equity method investees
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,400	3,000	-600	3,300	-300	500	400	500	200	-600	900	-700	800	1,200	1,200	1,200	-300	1,000	-500	-1,700	600	500	-100
Changes in operating assets and liabilities:
Increase in accounts receivable
235,700	-165,400	291,700	186,100	120,000	146,200	35,300	290,500	230,200	80,100	100,900	-76,700	203,200	-200	85,100	-26,000	54,800	-40,000	77,300	-66,900	112,600	51,300	51,300	-45,200	45,400	-87,600	65,200	11,200	66,600	-18,600	74,800	-23,600	94,100	33,100	10,800	55,900	113,500	-108,100	151,000
(Decrease)/increase in sales deduction accrual
-60,100	-245,100	282,600	220,100	36,900	39,600	17,500	180,100	41,800	-7,200	73,600	-2,400	62,700	61,900	-24,600	79,400	-77,800	35,200	70,800	68,800	68,700	-4,400	44,400	6,600	8,500	-26,900	54,500	34,300	-19,900	34,900	31,200	53,600	14,700	89,400	64,900	-77,500	94,700	-4,400	121,900
Increase in inventory
135,600	129,600	40,200	-100,100	73,600	19,800	151,800	27,800	111,600	84,200	32,200	41,500	-15,700	15,400	22,000	9,500	4,100	-6,900	18,600	-3,300	-14,000	24,800	29,100	6,300	14,900	42,000	25,000	21,600	12,200	17,900	12,700	4,100	4,000	25,900	24,200	14,500	11,400	3,300	9,500
Decrease in prepayments and other assets
-106,100	-75,200	136,700	-10,700	34,200	-90,400	-14,200	132,000	92,900	-48,700	22,200	-16,000	7,200	14,000	-42,400	-157,100	-22,800	62,900	74,600	-10,000	4,400	4,700	61,800	32,300	14,300	-14,900	-17,200	54,100	-31,100	18,800	-5,000	-26,700	-16,300	65,200	18,100	-39,000	-25,700	21,500	12,300
Decrease/(increase) in other assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	600	-	-900	-1,000	-3,400
Decrease in accounts payable and other liabilities
-58,500	-13,700	-172,600	31,000	-112,700	226,400	-671,500	306,400	-27,500	497,300	-154,600	52,700	96,300	-117,300	77,500	98,100	52,300	400	-145,500	139,300	89,300	-67,200	-93,500	64,000	38,000	65,000	-30,300	91,400	-24,300	-4,300	-72,800	66,900	2,200	72,900	-116,100	94,900	44,900	-61,400	-39,800
Returns on investment from joint venture
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	4,900
Cash flows used in discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-3,300	-2,600
Net cash provided by operating activities
857,600	939,600	1,010,300	1,519,600	1,055,200	1,222,800	459,100	1,152,900	525,600	590,900	389,500	761,800	561,300	452,300	561,600	2,554,900	593,400	834,000	246,100	610,300	433,700	258,600	160,400	371,700	288,400	465,800	257,000	409,400	178,700	283,600	201,900	342,900	142,100	283,700	186,200	236,900	134,000	71,900	184,100
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of subsidiary undertakings and businesses, net of cash acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	1,400	74,100
Purchases of PP&E
-	183,500	177,800	-	-	178,600	212,500	246,200	223,400	127,500	51,600	47,400	22,600	22,400	22,300	-	19,700	-12,500	15,600	700	3,200	-43,400	50,100	-	-	-	4,100	2,400	3,800	2,000	2,500	1,900	1,000	0	0	-	-	-	-
Acquisition of business, net of cash acquired
-	-	-	-	-	-	-	0	0	11,783,400	5,692,800	0	304,200	49,500	5,199,700	0	86,100	253,900	3,764,400	0	0	150,600	77,200	0	0	97,000	0	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of PP&E
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	58,000	27,200	32,700	31,700	58,400	40,900	48,500	46,500	64,900	53,600	164,500	43,600	85,000	67,600	59,800	42,000
Proceeds from sale of investments
-	-	-	-	-	-	-	-	-	-	-	18,700	0	12,500	54,500	0	1,500	9,500	46,800	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Movements in restricted cash
-	-	-	-	-	-	-	5,500	-1,100	-2,400	-64,800	-16,000	28,500	5,000	14,500	300	20,400	1,800	10,100	5,800	-1,000	-1,700	2,200	-1,800	4,500	-500	-5,700	-500	-900	-8,900	4,100	-553,300	553,000	300	-6,300	-6,200	3,500	-300	6,900
Purchases of intangible assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	21,500	22,000	0	5,200	0	0	-	-	-	-	0	1,000	0	6,000
Proceeds received on sale of product rights
-	-	-	-	-	-	-	-	-	-	-	-	5,700	4,900	3,900	4,300	69,900	4,800	48,000	4,200	4,700	5,500	4,800	4,100	3,300	4,800	5,600	3,200	1,900	6,900	0	-	-	-	-	-	-	-	-
Proceeds from capital expenditure grants
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,700	-	-	-	8,400	-	0	0	0	-	-	-	-	-	-	-	-
Other, net
-	-	-	-	-	-	-	-	-	-	-	-	14,100	3,500	900	200	13,300	0	8,000	3,500	900	7,000	700	-	-	-	3,800	11,300	94,700	-100	100	200	0	0	2,100	-	-	-	-
Returns from equity investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8,300	100	-1,700	100	500	1,100	-	-	-	-	-	-	-	-
Other, net
62,300	24,500	11,100	11,800	-31,600	-2,000	-1,200	29,500	4,800	2,200	-5,500	8,200	-3,600	900	0	1,100	-4,100	-100	2,900	-11,400	200	2,700	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from disposal of non-current investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	19,200
Proceeds from disposal of property, plant and equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	400
Returns of equity investments and proceeds from short term investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	-200
Net cash provided by/(used in) investing activities
2,073,700	-208,000	-188,900	-218,300	-135,300	-136,000	-211,300	-280,900	-226,500	-11,910,700	-5,674,100	-53,900	-331,900	-56,900	-5,177,200	-24,400	-68,100	-247,900	-3,690,200	-39,900	-41,700	-158,000	-121,300	-55,400	-35,700	-145,700	-34,200	-47,200	43,900	-754,000	-51,900	34,100	-628,800	-167,500	-35,200	-87,000	-72,000	-54,200	-109,200
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from revolving line of credit, long term and short term borrowings
1,085,000	2,227,000	423,300	975,100	1,149,700	710,000	1,401,900	701,100	12,847,300	12,590,000	6,305,000	110,000	725,200	695,600	2,230,000	0	0	140,800	2,170,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of revolving line of credit, long term and short term borrowings
3,706,700	2,822,900	1,439,400	2,016,900	2,136,600	1,702,200	1,825,700	1,771,400	13,132,600	505,200	995,100	624,800	955,200	995,700	535,200	0	210,200	601,400	650,200	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of debt acquired through business combinations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	17,600	533,900	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from ViroPharma call options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	346,700	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Debt issuance costs
-	-	-	-	-	-	-	1,300	58,700	18,500	93,800	20,800	-400	400	3,300	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Contingent consideration payments
-	-	-	-	-	-	-	-	-	-	-	-	-	2,100	2,400	2,400	2,500	2,500	7,800	2,800	2,500	2,800	6,000	2,800	3,000	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Payments to acquire shares (in USD)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,000	13,100	157,100	70,600	154,900	40,200	10,700	0	-	-	-	-	-	-	-	-	-	-	-	-
Payment under building finance obligation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	200	-	500	600	700	800	900	2,300	700
Excess tax benefit associated with exercise of stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	7,100	19,900	-	8,300	8,600	20,500	3,900	3,400	1,700	4,400	2,100	3,400	400	34,800	7,700	4,900	9,800	9,000	-3,100	5,200	-400	4,800	-	-	-	-
Proceeds from issuance of stock for share-based compensation arrangements
47,100	93,200	40,500	41,900	12,700	37,400	42,100	32,000	137,100	0	100	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	200	9,100	300	300	1,500	11,800	1,800	900	100
Other, net
-18,700	-400	-6,500	-1,200	-2,200	-3,900	-20,100	5,900	-56,700	11,000	900	-72,700	4,500	-900	100	41,500	-1,700	-500	200	-1,500	2,000	-6,800	-700	-700	-200	-3,000	600	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in financing activities
-2,989,300	-779,700	-982,100	-1,047,700	-976,400	-1,193,400	-401,800	-1,074,800	-263,600	11,947,100	5,217,100	-615,900	-247,600	-406,600	1,709,100	-12,700	-206,100	-572,200	1,345,500	-17,300	-10,200	-244,200	-72,900	-155,700	-40,000	-84,000	35,400	-18,600	-88,500	-97,300	9,000	-14,800	5,000	-95,300	5,600	16,400	900	-45,400	-600
Effect of foreign exchange rate changes on cash and cash equivalents
-3,600	-10,400	2,100	900	2,100	1,400	2,700	3,000	-300	-2,900	1,000	-1,400	-900	900	-1,600	-3,100	-5,100	600	-1,700	200	2,400	-5,200	2,300	-300	-3,500	-2,800	1,200	0	-2,300	300	2,400	-4,900	-7,500	4,100	2,000	-100	6,500	-100	-1,400
Net decrease in cash, cash equivalents, and restricted cash
-61,600	-58,500	-158,600	254,500	-54,400	-105,200	-151,300	-199,800	35,200	624,400	-66,500	90,600	-19,100	-10,300	-2,908,100	2,514,700	314,100	14,500	-2,100,300	553,300	384,200	-148,800	-31,500	160,300	209,200	233,300	259,400	343,600	131,800	-567,400	161,400	357,300	-489,200	25,000	158,600	166,200	69,400	-27,800	72,900
Supplemental information:
Interest paid
-	89,900	152,500	-	-	158,800	108,200	60,600	112,000	97,500	13,900	6,900	3,200	4,900	5,000	22,500	-15,700	5,100	2,600	12,300	700	15,900	1,000	16,000	1,300	16,200	1,100	16,400	700	15,700	500	14,200	-1,300	12,300	700	14,500	-200	19,300	-1,700
Income taxes repaid
-	-	-	-	-	-	-	-	-	-	-	-	-	-	48,800	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income taxes paid, net
103,900	379,500	45,000	216,700	132,000	152,900	23,100	75,200	102,100	164,100	89,600	-	-	-	-	-350,700	-8,800	82,500	82,600	45,500	47,900	100,700	96,100	64,600	66,300	38,800	29,500	21,600	116,800	141,300	6,400	37,600	86,600	115,300	89,700	18,000	86,000	169,600	-50,400
Equity in Vertex Pharmaceuticals, Inc. ("Vertex") received as part consideration for disposal of non-current investment in Virochem Pharma, Inc. ("Virochem")
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	9,100	-	-	-	-
Building financing obligation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	14,200	0	-15,600	8,500