Super Micro Computer, Inc. SMCI Cash Flow

Super micro computer, inc. (SMCI)

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
OPERATING ACTIVITIES:
Net income
89,568	84,407	78,921	71,918	74,482	78,431	59,428	46,165	33,146	33,901	57,560	66,854	59,079	59,775	70,103	72,081	83,995	91,005	89,043	92,555	91,710	85,228	67,321	54,157	46,034	36,500	28,079	21,279	18,363	18,400	22,260	29,853	35,074	38,693	41,488	40,213	0	0	0
Reconciliation of net income to net cash provided by operating activities:
Depreciation and amortization
26,989	25,982	25,082	24,202	23,845	23,751	23,190	21,846	20,775	18,850	17,157	16,357	15,512	15,040	14,331	13,282	11,702	10,202	9,000	8,094	7,704	7,289	6,818	6,364	6,525	6,781	7,273	7,835	7,857	7,898	7,491	7,071	6,577	5,996	5,706	5,453	0	0	0
Stock-based compensation expense
19,926	20,081	20,364	21,184	22,088	23,216	24,469	24,656	23,882	22,797	21,099	19,665	18,897	18,237	17,670	16,930	17,174	16,397	15,343	14,436	12,606	11,846	11,453	11,062	10,882	10,926	11,047	11,361	11,484	11,227	10,825	10,252	9,764	9,239	8,562	8,056	0	0	0
Excess tax benefits from stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	2,310	2,199	3,202	2,980	2,812	3,323	5,619	7,475	8,046	7,502	4,690	2,815	2,992	2,740	1,164	963	865	984	1,748	1,894	2,047	2,484	2,269	2,690	2,401	0	0	0
Allowances for doubtful accounts
5,534	5,566	6,449	7,100	2,859	1,341	783	-100	-649	-492	-332	334	1,289	1,146	1,100	1,216	947	1,199	740	80	286	313	573	1,476	1,617	1,930	1,641	929	710	267	359	217	124	115	333	499	0	0	0
Allowance for sales returns
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Provision for excess and obsolete inventories
26,454	33,021	31,782	32,946	28,031	19,205	17,474	9,649	13,732	13,916	13,496	15,729	11,484	12,027	11,584	9,384	7,568	5,512	5,970	5,930	4,289	4,891	3,910	2,254	3,408	4,950	6,819	9,725	11,637	10,990	9,127	8,579	7,447	6,766	5,805	3,353	0	0	0
Share of loss from equity investee
-200	500	-300	-2,700	-4,699	-5,016	-4,372	-3,607	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Foreign currency exchange (gain) loss
-290	-227	1,052	313	959	561	-258	-171	-739	-1,977	-871	-1,274	-1,476	109	-1,143	1,339	1,677	838	2,583	830	357	1,286	572	96	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income taxes, net
-11,785	-10,010	-13,410	-17,100	-6,874	-6,427	9,331	13,570	12,117	9,017	-5,070	-5,434	-10,708	-4,287	-5,138	-5,212	-741	-7,055	-5,023	-3,576	-285	-56	947	65	-4,652	-2,786	-4,049	-7,010	0	0	0	-	-	-	-	-	-	-	-
Other
-915	-1,439	-1,013	-733	-1,157	-108	-133	-909	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0
Exchange gain
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-
Changes in operating assets and liabilities:
Accounts receivable (including changes in related party balances of $1,612 and ($8,813) during the nine months ended March 31, 2020 and 2019, respectively)
11,270	-63,903	-88,751	-85,027	-51,563	41,413	87,952	127,082	75,802	105,072	113,414	149,455	104,314	29,494	2,734	-53,575	8,346	24,642	81,854	78,186	39,819	97,923	60,887	64,874	61,306	44,192	22,910	48,255	22,069	39,079	25,336	17,226	17,494	-562	15,053	12,541	0	0	0
Inventories
131,567	-91,715	-103,960	-119,314	-2,122	34,327	91,036	126,232	117,130	191,518	211,896	235,590	172,672	135,531	75,231	-7,709	88,233	93,612	134,160	177,557	139,582	123,169	91,141	63,921	41,156	52,280	-2,023	-12,704	40,045	61,227	83,275	92,467	30,739	12,480	43,299	60,480	0	0	0
Prepaid expenses and other assets (including changes in related party balances of ($52) and $9,741 during the nine months ended March 31, 2020 and 2019, respectively)
52,772	23,062	22,506	-8,410	-35,993	-3,347	6,669	15,714	10,270	615	11,168	2,856	3,071	20,532	33,130	23,539	50,370	40,406	4,187	11,326	124	17	-1,205	-618	-1,181	-662	-596	67	-1,226	144	1,019	1,656	3,206	1,830	712	4,144	0	0	0
Accounts payable (including changes in related party balances of ($4,685) and ($24,882) during the nine months ended March 31, 2020 and 2019, respectively)
132,094	-70,886	-133,551	-173,410	-81,297	-28,848	52,203	132,533	27,062	116,555	93,964	135,320	77,372	20,901	41,692	-65,835	20,246	44,986	29,005	81,701	52,518	74,364	56,161	46,298	39,886	54,836	24,748	-2,208	22,310	34,355	16,729	61,336	13,562	-29,280	9,278	16,933	0	0	0
Income taxes payable
-6,749	-6,194	-7,125	5,831	3,987	1,988	6,620	5,827	2,351	6,828	-186	-1,873	-5,246	-4,325	-2,315	-386	7,179	5,275	5,443	8,979	6,815	13,517	15,765	10,880	12,426	6,488	5,081	4,490	4,207	3,685	6,125	8,968	11,651	13,916	8,780	5,687	0	0	0
Deferred revenue
12,153	33,823	34,133	59,800	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accrued liabilities (including changes in related party balances of $9,734 and ($9,288) during the nine months ended March 31, 2020 and 2019, respectively)
51,674	20,419	14,926	11,456	8,503	18,665	24,834	23,238	24,427	7,640	15,568	17,329	15,661	17,739	22,149	12,911	21,738	27,379	15,946	13,893	11,808	6,328	4,597	3,293	-651	3,941	-259	4,384	4,969	5,825	7,233	4,967	4,810	174	267	5,348	0	0	0
Other long-term liabilities (including changes in related party balances of ($129) and $0 during the nine months ended March 31, 2020 and 2019, respectively)
-6,718	-3,962	-195	116	1,129	4,089	4,979	3,525	-18,067	-15,280	-6,281	-3,071	20,645	17,768	17,702	20,022	21,186	20,387	12,811	7,728	3,061	2,821	1,942	1,954	1,363	329	-568	-566	-1,239	1,151	1,786	1,757	895	30	850	930	0	0	0
Net cash provided by operating activities
147,570	268,605	230,452	262,554	245,662	149,234	110,171	84,347	13,684	-24,772	-73,509	-96,188	-76,686	-34,822	75,987	107,987	38,997	50,170	-52,012	-46,125	3,128	-20,544	15,277	6,538	12,488	26,375	58,444	13,583	11,008	-14,820	-35,224	16,467	29,270	24,471	16,694	8,480	0	0	0
INVESTING ACTIVITIES:
Proceeds from investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2,475	-2,275	-1,875	-2,275	-1,500	0	0	0
Purchases of property, plant and equipment (including payments to related parties of $4,384 and $4,203 during the nine months ended March 31, 2020 and 2019, respectively)
43,954	39,632	35,003	24,849	23,970	22,029	23,039	24,824	22,730	24,094	22,675	29,365	32,258	36,245	38,092	34,108	35,583	39,304	39,996	35,100	28,425	17,642	41,385	40,567	37,434	36,167	6,030	5,001	7,498	9,392	17,736	24,862	27,351	26,187	16,997	16,202	0	0	0
Proceeds from redemption of auction rate security
-	-	-	-	-	-	-	-	-	-	-	0	288	903	901	1,020	1,016	819	429	416	413	-413	-430	-406	-396	408	425	412	400	15	49	32	45	70	30	123	0	0	0
Net cash used in investing activities
-	-	-	-	-	-	-	2,100	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities
-43,204	-38,882	-35,003	-24,849	-23,970	-21,029	-24,039	-25,924	-23,544	-25,907	-22,891	-29,365	-32,546	-37,148	-38,993	-35,128	-36,599	-40,123	-41,086	-36,177	-29,499	-17,890	-40,955	-40,161	-37,038	-36,575	-6,155	-5,113	-7,366	-8,475	-14,285	-19,719	-23,178	-31,459	-24,697	-24,770	0	0	0
FINANCING ACTIVITIES:
Proceeds from debt
10,000	0	15,860	41,760	41,760	81,997	88,437	107,337	143,950	144,013	177,913	207,029	180,516	149,916	103,416	34,200	72,600	94,100	89,600	84,900	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of debt
0	0	31,800	67,700	204,399	236,699	229,699	220,299	104,200	95,200	96,919	140,452	130,252	117,352	101,233	34,100	24,400	34,900	30,400	36,000	36,000	19,320	14,120	6,320	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net repayment on asset-backed revolving line of credit
38	-25,417	-40,538	-65,945	-2,873	22,582	37,703	64,226	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Advances under receivables financing arrangement
-	-	-	-	-	-	-	-	-	-	-	227	-852	784	35	-21	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from exercise of stock options
-	-	-	-	-	-	-	3,043	4,798	8,048	10,982	10,878	10,648	15,620	14,174	12,186	12,928	13,032	19,804	23,338	25,845	31,888	26,878	23,928	19,553	5,850	3,021	1,845	2,301	7,403	8,297	8,549	12,004	11,055	10,288	10,271	0	0	0
Payment under receivable financing arrangements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-151	429	77	-193	0	0	0
Contributions from noncontrolling interests
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	168	0	0	0	-	-	-	-	-	-	-	-
Advances (payments) under receivable financing arrangements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Payment of withholding tax on vesting of restricted stock units
7,162	5,024	2,572	3,051	3,643	3,884	4,307	4,472	4,230	4,201	4,118	3,554	3,162	2,824	2,250	1,786	1,275	679	371	175	30	30	30	681	663	663	663	1,034	1,022	1,022	1,022	1,109	8,099	8,099	8,771	8,424	0	0	0
Excess Tax Benefit from Share-based Compensation, Financing Activities
-	-	-	-	-	-	-	-	-	-	-	2,310	2,199	3,202	3,014	2,812	3,323	5,619	7,441	8,046	7,502	4,690	2,815	2,992	2,740	1,164	963	865	984	1,748	1,894	2,047	2,484	2,269	2,690	2,401	0	0	0
Proceeds from debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-
Repayment of debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-
Proceeds from long-term debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Repayment of long-term debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Payments of obligations under finance leases
183	218	215	267	256	257	256	253	272	270	265	253	240	221	206	189	171	162	145	134	117	90	70	47	35	37	36	40	40	35	35	35	38	48	55	64	0	0	0
Payments to acquire treasury stock
-	-	-	-	-	-	-	-	-	-	-	18,461	18,461	18,461	18,461	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Contributions from noncontrolling interests
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-
Net cash provided by (used in) financing activities
25,496	-28,580	-59,890	-95,828	-170,200	-136,675	-108,536	-50,832	40,686	53,395	89,809	57,724	40,404	30,664	-1,545	13,102	63,196	76,107	85,963	80,008	34,273	31,989	32,083	37,222	32,597	12,105	810	3,762	1,598	8,511	14,932	13,817	14,283	22,242	16,844	13,589	0	0	0
Effect of exchange rate fluctuations on cash
-	-	-	-	-	-	-	-	-	-	-	-	-54	66	282	-61	612	-117	-157	-268	-371	-237	-351	235	-307	-420	36	-20	-127	805	620	318	0	0	0	-	-	0	0
Effect of exchange rate fluctuations on cash
132	157	-85	-119	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net increase in cash, cash equivalents and restricted cash
129,994	201,300	135,474	141,758	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net increase (decrease) in cash and cash equivalents
-	-	-	-	-	-	-	-	-	-	-	-	-68,882	-41,240	35,731	85,900	66,206	86,037	-7,292	-2,562	7,531	-6,682	6,054	3,834	7,740	1,485	53,135	12,212	5,113	-13,979	-33,957	10,883	20,765	15,161	8,761	-2,701	0	0	0
Supplemental disclosure of cash flow information:
Cash paid for interest
2,110	2,435	2,965	3,861	4,726	5,159	5,208	4,541	3,964	3,402	2,772	2,082	1,831	1,688	1,650	1,632	1,420	1,244	1,029	933	873	761	759	757	700	687	661	718	627	654	691	621	740	726	704	649	0	0	0
Cash paid for taxes, net of refunds
44,463	42,957	50,882	23,604	21,656	23,908	15,546	14,734	20,586	20,019	32,307	30,809	27,347	37,319	32,427	36,951	37,778	34,843	33,284	30,671	31,611	21,720	14,412	13,096	10,221	8,466	7,907	8,074	8,947	11,418	9,795	8,455	6,608	5,825	9,772	9,813	0	0	0
Non-cash investing and financing activities:
Equipment purchased under capital leases
-	-	-	-	-	-	-	-	-	-	-	314	314	258	257	299	313	233	228	442	536	562	539	283	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Unpaid property, plant and equipment purchases (including due to related parties of $215 and $1,067 as of March 31, 2020 and 2019, respectively)
12,802	13,439	9,822	9,232	4,935	877	1,282	2,285	4,867	4,695	5,997	5,056	9,659	9,826	8,512	10,849	2,319	6,995	12,308	7,062	12,477	7,004	3,161	2,021	3,746	3,682	2,541	1,871	103	-237	139	797	1,534	2,625	2,738	1,482	0	0	0
Contribution of certain technology rights to equity investee
0	0	0	3,000	3,000	3,000	3,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-