SEMTECH CORP SMTC Cash Flow

Semtech corp (SMTC)

CashFlow / Quarterly

Jan'20	Oct'19	Jul'19	Apr'19	Jan'19	Oct'18	Jul'18	Apr'18	Jan'18	Oct'17	Jul'17	Apr'17	Jan'17	Oct'16	Jul'16	Apr'16	Jan'16	Oct'15	Jul'15	Apr'15	Jan'15	Oct'14	Jul'14	Apr'14	Jan'14	Oct'13	Jul'13	Apr'13	Jan'13	Oct'12	Jul'12	Apr'12	Jan'12	Oct'11	Jul'11	Apr'11	Jan'11	Oct'10	Jul'10	Apr'10
Cash flows from operating activities:
Net income
-4,393	17,599	5,366	13,294	19,923	12,165	25,169	12,382	-3,074	13,338	12,564	11,821	8,019	30,776	8,979	6,887	1,247	10,705	-313	-142	-15,441	17,623	17,898	7,867	-210,808	12,453	19,112	14,777	13,118	16,590	10,022	2,209	12,388	26,979	27,138	22,582	26,003	16,105	19,662	10,802
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
9,311	9,727	9,719	10,824	12,307	12,792	12,087	12,453	13,205	12,701	11,792	11,301	11,551	11,619	11,961	11,926	12,398	12,514	11,980	12,040	18,301	12,217	12,026	12,004	51,687	13,449	15,591	13,346	13,892	12,755	15,678	6,867	4,929	7,273	4,540	4,271	4,181	4,412	3,985	3,870
Effect of acquisition fair value adjustments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	53	2,476	4,442	4,651	14,171	14,429	-	-	-	-	-	-	-	-
Accretion of deferred financing costs and debt discount
119	118	122	125	129	130	133	136	138	141	143	146	129	160	164	168	415	394	347	313	294	278	261	250	254	245	250	760	726	738	753	328	-	-	-	-	-	-	-	-
Deferred income taxes
7,413	1,436	-3,027	-226	-2,954	4,131	-744	15,614	-9,386	-5,128	2,771	-3,151	13,474	-6,164	-5,234	-4,261	5,378	-4,796	40	390	6,492	-3,376	-3,142	-1	-22,173	-1,285	-6,627	98	60,209	-161	7,727	-20,152	-7,232	-1,030	3,453	2,786	1,275	337	812	760
Share-based compensation and warrant costs
23,308	8,767	8,646	11,328	5,890	11,466	13,965	35,516	5,885	15,356	15,524	13,286	9,630	9,394	6,097	5,707	7,070	5,116	2,336	5,946	8,573	7,935	6,274	6,847	2,979	6,828	6,156	8,626	7,801	6,482	4,919	5,326	6,871	5,041	4,621	7,487	6,085	7,419	7,206	8,300
Loss (gain) on disposition of business operations and assets
-86	134	-532	106	-42	79	-21	10	7	141	12	-436	501	25,054	-66	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability
-32	-152	0	-2,161	0	-8,519	-900	0	-	-	-	-	-53	0	-129	-33	-2,744	-14,186	406	162	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Equity in net (gains) losses of equity method investments
0	352	168	-411	-85	17	-27	-31	-50	-204	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Contingencies
-	-	-	-	-	-	-	-	-	-	95	-50	-1,450	-2	-66	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Corporate owned life insurance, net
-2,255	-2,602	269	-1,025	75	604	-899	254	-758	-289	-306	-248	-334	77	-243	-270	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefits on share-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-3,335	422	1,071	1,842	-48	608	644	1,075	610	48	-24	257
Environmental reserve
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	5,190	-2,335	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on disposition of property, plant and equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-14	16	-2	56	-55	28	-1	-170	0	125	-40	-1,028	13	0	-7	-138	6	-12	75
Changes in assets and liabilities:
Accounts receivable, net
483	2,801	-7,816	-12,764	-4,597	5,443	12,809	7,844	-13,273	5,236	5,019	4,471	-8,591	3,173	7,775	5,046	-10,777	-6,600	-24,336	16,359	-9,022	9,855	6,746	-4,611	-7,813	-6,449	381	11,054	-3,644	-4,433	12,815	264	-9,970	8,311	901	-208	-8,301	9,902	9,165	8,681
Inventories
2,902	-4,952	1,580	9,801	2,310	2,266	-7,411	-5,609	-182	-3,726	-1,869	11,292	3,261	72	-38	-1,336	-7,568	-9,029	5,462	873	13,246	5,860	-854	-4,962	-11,944	-5,953	1,643	4,016	5,484	2,193	-1,947	-1,479	-116	-2,086	-923	2,449	4,562	6,375	3,545	-466
Other assets
-5,078	-4,287	7,548	-598	1,964	2,813	-5,288	1,098	3,339	1,519	4,364	-3,265	-2,782	-557	-956	11,811	6,632	-4,987	-5,672	4,684	2,910	-2,443	3,012	1,235	-3,631	3,054	-1,230	1,184	-91	421	-2,189	-4,112	-1,047	706	6,227	1,182	-2,511	-5,711	6,375	2,387
Accounts payable
11,195	-6,336	-617	-1,639	2,214	2,703	-577	3,203	1,377	2,449	-4,985	-4,147	-3,674	3,605	1,353	1,817	4,303	-15,283	-5,653	21,613	-8,983	2,450	-1,192	-1,352	1,219	-10,034	-4,787	2,308	-924	7,721	1,663	-4,007	-9,933	2,120	600	3,859	-6,644	3,327	3,869	5,434
Accrued liabilities
491	-1,966	10,117	-28,174	2,662	3,876	438	-6,852	10,256	-1,267	5,995	-12,536	1,697	3,815	6,745	-1,675	2,686	-6,278	-1,258	-8,095	1,807	2,436	8,876	-10,557	9,968	-2,567	1,147	-11,287	2,572	6,782	-2,305	-17,459	1,612	3,240	-1,828	-29,041	-465	14,182	3,506	-3,789
Deferred revenue
-	-1,119	-1,487	1,503	-	-435	127	-180	-	-251	-103	299	1,233	2,118	1,049	133	1,747	-9	-3	1,045	-2,011	1,432	733	-1,573	-273	2,142	281	1,251	-881	-1,545	576	738	-770	-1,079	790	-108	-190	1,274	483	177
Income taxes payable
0	0	0	-2,105	2,105	0	1	-1,698	1,802	-18,848	4,550	-3,222	10,493	-3,016	-2,204	-2,655	525	688	193	1,205	4,572	-256	-1,993	154	4,463	-1,249	-47	-1,342	26,574	-2,937	-20,356	-4,401	5,843	-1,222	1,661	-1,320	-	-	-	-
Income taxes payable and prepaid taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-7,907
Other liabilities
5,807	-488	-324	-1,371	-561	3,173	-2,686	-751	-15,016	666	53	2,124	323	2,413	-1,045	2,516	898	-203	-3,705	5,251	2,288	-601	1,309	788	-1,893	1,290	2,213	2,392	1,320	2,435	462	863	347	-788	119	316	741	1,557	-685	1,337
Net cash provided by operating activities
45,255	33,268	33,352	6,741	47,198	51,998	49,338	35,029	38,635	26,854	35,637	10,359	32,918	39,227	31,666	13,801	34,460	18,870	34,049	14,697	11,631	33,392	38,368	22,769	30,597	28,939	41,295	17,150	35,189	54,908	23,605	-11,734	26,264	32,982	34,245	6,341	29,195	29,578	26,828	8,200
Cash flows from investing activities:
Purchase of available-for-sale investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	59,732
Proceeds from convertible debt settlement
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	550	0	2,624	500	750	501	1,000	7,998	7,767	1,500	14,607	88,592	36,626	45,118	27,421	22,583	26,026	36,693	23,433	24,835
Proceeds from sales of property, plant and equipment
23	186	30	113	0	102	-17	27	9	174	0	6	48	0	0	0	-	-	-	-	-	-	-	-	0	0	49	8	0	0	0	0	28	13	0	5	0	25	49	2
Purchase of property, plant and equipment
2,647	3,516	1,635	15,258	4,124	3,107	4,886	4,935	8,643	7,866	13,777	5,175	19,166	8,406	2,635	2,713	2,321	2,461	3,403	4,841	6,296	12,797	6,283	6,379	6,411	7,185	12,815	10,750	5,151	7,400	6,085	4,630	3,557	2,748	7,790	7,469	7,521	7,674	5,856	4,486
Purchase of investments
2,038	1,900	7,067	625	2,596	1,106	105	5,490	5,328	5,875	2,712	4,750	9,950	2,000	1,248	0	-	-	-	-	-	-	-	-	0	0	0	1,050	7,622	7,016	0	10,106	2,999	6,501	58,830	25,000	-	-	-	-
Purchase of intangible assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	950	0	-264	2,847	1,001	250	0	0	-	-	-	-	-	-	-	-
Purchase of investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,000	1,000	2,230	3,500	384	221	3,043	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Acquisitions, net of cash acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-5,261	9,500	0	34,932	4,852	0	0	0	-	-	-	-	0	0	0	491,717	0	0	0	0	-	-	-	-
Proceeds from sale of investments
0	0	0	0	-7,568	0	0	1,601	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities
-4,662	-5,230	-8,672	-15,770	-11,037	-4,055	-12,329	-8,797	-13,962	-7,867	-34,108	-9,919	-29,113	22,194	-3,883	-2,713	-11,721	-13,961	858	-42,003	-14,180	-13,181	-4,809	-8,922	-9,111	-6,684	-11,502	-6,641	-8,507	-13,166	8,522	-417,861	30,098	32,882	-39,199	-9,881	-1,495	-37,863	-4,537	-39,381
Cash flows from financing activities:
Payments of term loans
101,250	4,687	4,687	4,688	4,688	3,750	3,750	3,750	3,750	3,750	3,750	3,750	71,501	0	4,687	4,687	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from revolving line of credit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	347,000	0	0	0	0	-	-	-	-
Deferred financing costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	8,962	-	-	-	-	-	-	-	-
Excess tax benefits on share-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-3,335	422	1,071	1,842	-48	608	644	1,075	610	48	-24	257
Borrowings under line of credit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	35,000	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment for employee share-based compensation payroll taxes
993	7,113	1,029	12,372	737	7,162	4,871	5,769	1,010	4,974	2,220	3,467	634	3,079	453	2,396	443	1,997	471	3,602	863	2,776	548	2,985	-	-	529	4,619	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from exercise of stock options
1,556	1,492	1,573	1,381	5,826	2,401	4,010	4,038	1,340	3,008	1,173	1,159	4,101	710	754	214	1,842	997	1,183	1,785	928	1,977	4,190	1,785	10,305	-7,383	6,505	6,971	14,910	2,426	807	1,606	7,656	6,109	10,395	18,501	-	-	-	5,069
Repurchase of common stock
27,583	22,526	20,000	110	36,472	30,000	24,413	25,325	4,455	0	428	9,966	466	0	539	0	0	7,464	29,833	20,014	0	20,906	10,000	10,000	15,000	15,000	0	0	7,500	0	87	182	20,086	30,028	101	450	105	1,312	1,026	376
Payment of long term debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	16,688	4,688	4,687	-	4,687	29,688	4,687	4,688	4,688	353,500	5,625	5,625	5,625	5,625	0	-	-	-	-	-	-	-	-
Net cash used in financing activities
-30,326	-32,820	-24,143	-15,789	-36,277	-47,041	-29,024	-30,806	-7,875	-5,716	-5,225	-16,024	-4,610	-2,369	-4,925	-6,869	-3,288	-25,152	-33,809	8,482	391	-26,392	-36,046	-15,887	-15,685	-21,922	-23,161	-3,273	-8,444	-2,777	-4,934	341,304	-12,478	-23,311	10,938	19,126	8,110	13,575	1,260	4,950
Net (decrease) increase in cash and cash equivalents
10,267	-4,782	537	-24,818	-116	902	7,985	-4,574	16,798	13,271	-3,696	-15,584	-805	59,052	22,858	4,219	19,451	-20,243	1,098	-18,824	-2,158	-6,181	-2,487	-2,040	5,801	333	6,632	7,236	18,238	39,096	26,957	-88,121	43,882	42,551	5,984	15,586	35,810	5,291	23,551	-26,231
Effect of exchange rate increase on cash and cash equivalents
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	131	-236	170	-	-	-	-	-	-	-	-
Supplemental disclosure of cash flow information:
Interest paid
1,265	2,293	2,136	2,212	2,883	1,805	1,971	1,929	1,144	1,707	1,681	1,809	2,092	1,148	1,729	1,523	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income taxes paid
2,626	951	5,850	1,730	3,698	1,103	2,291	648	6,381	21,554	1,209	1,869	5,436	672	1,756	2,639	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash investing and financing activities:
(Increase) decrease in accounts payable related to capital expenditures
-3,090	-1,157	831	1,193	-154	-136	260	2,054	-628	2,515	391	1,511	1,703	-1,931	2,755	846	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Conversion of note into equity
-	-	-	-	-	-	-	-	-	-	-	2,175	-1,425	-19	-1,425	2,869	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-