SEMTECH CORP SMTC Cash Flow

Semtech corp (SMTC)

CashFlow / TTM

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
31,866	56,182	50,748	70,551	69,639	46,642	47,815	35,210	34,649	45,742	63,180	59,595	54,661	47,889	27,818	18,526	11,497	-5,191	1,727	19,938	27,947	-167,420	-172,590	-171,376	-164,466	59,460	63,597	54,507	41,939	41,209	51,598	68,714	89,087	102,702	91,828	84,352	72,572	0	0	0
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
39,581	42,577	45,642	48,010	49,639	50,537	50,446	50,151	48,999	47,345	46,263	46,432	47,057	47,904	48,799	48,818	48,932	54,835	54,538	54,584	54,548	87,934	89,166	92,731	94,073	56,278	55,584	55,671	49,192	40,229	34,747	23,609	21,013	20,265	17,404	16,849	16,448	0	0	0
Effect of acquisition fair value adjustments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,529	6,971	11,622	25,740	37,693	0	0	0	-	-	-	-	-	-	-	-
Accretion of deferred financing costs and debt discount
484	494	506	517	528	537	548	558	568	559	578	599	621	907	1,141	1,324	1,469	1,348	1,232	1,146	1,083	1,043	1,010	999	1,509	1,981	2,474	2,977	2,545	0	0	0	-	-	-	-	-	-	-	-
Deferred income taxes
5,596	-4,771	-2,076	207	16,047	9,615	356	3,871	-14,894	7,966	6,930	-1,075	-2,185	-10,281	-8,913	-3,639	1,012	2,126	3,546	364	-27	-28,692	-26,601	-30,086	-29,987	52,395	53,519	67,873	47,623	-19,818	-20,687	-24,961	-2,023	6,484	7,851	5,210	3,184	0	0	0
Share-based compensation and warrant costs
52,049	34,631	37,330	42,649	66,837	66,832	70,722	72,281	50,051	53,796	47,834	38,407	30,828	28,268	23,990	20,229	20,468	21,971	24,790	28,728	29,629	24,035	22,928	22,810	24,589	29,411	29,065	27,828	24,528	23,598	22,157	21,859	24,020	23,234	25,612	28,197	29,010	0	0	0
Loss (gain) on disposition of business operations and assets
-378	-334	-389	122	26	75	137	170	-276	218	25,131	25,053	25,489	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability
-2,345	-2,313	-10,680	-11,580	-9,419	0	0	0	-	-	-	-	-215	-2,906	-17,092	-16,557	-16,362	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Equity in net (gains) losses of equity method investments
109	24	-311	-506	-126	-91	-312	-285	-254	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Contingencies
-	-	-	-	-	-	-	-	-	-	-1,407	-1,568	-1,518	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Corporate owned life insurance, net
-5,613	-3,283	-77	-1,245	34	-799	-1,692	-1,099	-1,601	-1,177	-811	-748	-770	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefits on share-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	3,287	3,473	3,046	2,279	2,937	2,377	1,709	891	0	0	0
Environmental reserve
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on disposition of property, plant and equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	56	15	27	28	-198	-143	-46	-85	-943	-930	-1,055	-1,022	-132	-139	-151	-69	0	0	0
Changes in assets and liabilities:
Accounts receivable, net
-17,296	-22,376	-19,734	891	21,499	12,823	12,616	4,826	1,453	6,135	4,072	6,828	7,403	5,217	-4,556	-36,667	-25,354	-23,599	-7,144	23,938	2,968	4,177	-12,127	-18,492	-2,827	1,342	3,358	15,792	5,002	-1,324	11,420	-494	-966	703	2,294	10,558	19,447	0	0	0
Inventories
9,331	8,739	15,957	6,966	-8,444	-10,936	-16,928	-11,386	5,515	8,958	12,756	14,587	1,959	-8,870	-17,971	-12,471	-10,262	10,552	25,441	19,125	13,290	-11,900	-23,713	-21,216	-12,238	5,190	13,336	9,746	4,251	-1,349	-5,628	-4,604	-676	4,002	12,463	16,931	14,016	0	0	0
Other assets
-2,415	4,627	11,727	-1,109	587	1,962	668	10,320	5,957	-164	-2,240	-7,560	7,516	16,930	12,500	7,784	657	-3,065	-521	8,163	4,714	-1,827	3,670	-572	-623	2,917	284	-675	-5,971	-6,927	-6,642	1,774	7,068	5,604	-813	-665	540	0	0	0
Accounts payable
2,603	-6,378	2,661	2,701	7,543	6,706	6,452	2,044	-5,306	-10,357	-9,201	-2,863	3,101	11,078	-7,810	-14,816	4,980	-8,306	9,427	13,888	-9,077	1,125	-11,359	-14,954	-11,294	-13,437	4,318	10,768	4,453	-4,556	-10,157	-11,220	-3,354	-65	1,142	4,411	5,986	0	0	0
Accrued liabilities
-19,532	-17,361	-11,519	-21,198	124	7,718	2,575	8,132	2,448	-6,111	-1,029	-279	10,582	11,571	1,478	-6,525	-12,945	-13,824	-5,110	5,024	2,562	10,723	5,720	-2,009	-2,739	-10,135	-786	-4,238	-10,410	-11,370	-14,912	-14,435	-26,017	-28,094	-17,152	-11,818	13,434	0	0	0
Deferred revenue
-	0	0	3,669	-	0	0	-505	-	1,178	3,547	4,699	4,533	5,047	2,920	1,868	2,780	-978	463	1,199	-1,419	319	1,029	577	3,401	2,793	-894	-599	-1,112	-1,001	-535	-321	-1,167	-587	1,766	1,459	1,744	0	0	0
Income taxes payable
-2,105	0	0	1	408	105	-18,743	-14,194	-15,718	-7,027	8,805	2,051	2,618	-7,350	-3,646	-1,249	2,611	6,658	5,714	3,528	2,477	2,368	1,375	3,321	1,825	23,936	22,248	1,939	-1,120	-21,851	-20,136	1,881	4,962	0	0	0	-	-	-	-
Income taxes payable and prepaid taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Other liabilities
3,624	-2,744	917	-1,445	-825	-15,280	-17,787	-15,048	-12,173	3,166	4,913	3,815	4,207	4,782	2,166	-494	2,241	3,631	3,233	8,247	3,784	-397	1,494	2,398	4,002	7,215	8,360	6,609	5,080	4,107	884	541	-6	388	2,733	1,929	2,950	0	0	0
Net cash provided by operating activities
118,616	120,559	139,289	155,275	183,563	175,000	149,856	136,155	111,485	105,768	118,141	114,170	117,612	119,154	98,797	101,180	102,076	79,247	93,769	98,088	106,160	125,126	120,673	123,600	117,981	122,573	148,542	130,852	101,968	93,043	71,117	81,757	99,832	102,763	99,359	91,942	93,801	0	0	0
Cash flows from investing activities:
Purchase of available-for-sale investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Proceeds from convertible debt settlement
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,674	3,874	4,375	2,751	10,249	17,266	18,265	31,872	112,466	141,325	184,943	197,757	131,748	121,148	112,723	108,735	110,987	0	0	0
Proceeds from sales of property, plant and equipment
352	329	245	198	112	121	193	210	189	228	54	54	48	0	0	0	-	-	-	-	-	-	-	-	57	57	57	8	0	28	41	41	46	18	30	79	76	0	0	0
Purchase of property, plant and equipment
23,056	24,533	24,124	27,375	17,052	21,571	26,330	35,221	35,461	45,984	46,524	35,382	32,920	16,075	10,130	10,898	13,026	17,001	27,337	30,217	31,755	31,870	26,258	32,790	37,161	35,901	36,116	29,386	23,266	21,672	17,020	18,725	21,564	25,528	30,454	28,520	25,537	0	0	0
Purchase of investments
11,630	12,188	11,394	4,432	9,297	12,029	16,798	19,405	18,665	23,287	19,412	17,948	13,198	0	0	0	-	-	-	-	-	-	-	-	1,050	8,672	15,688	15,688	24,744	20,121	19,606	78,436	93,330	0	0	0	-	-	-	-
Purchase of intangible assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,533	3,584	3,834	4,098	1,251	0	0	0	-	-	-	-	-	-	-	-
Purchase of investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8,730	7,114	6,335	7,148	0	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Acquisitions, net of cash acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	39,171	49,284	39,784	39,784	4,852	0	0	0	-	-	-	-	491,717	491,717	491,717	491,717	0	0	0	0	-	-	-	-
Proceeds from sale of investments
0	-7,568	-7,568	-7,568	-5,967	1,601	1,601	1,601	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities
-34,334	-40,709	-39,534	-43,191	-36,218	-39,143	-42,955	-64,734	-65,856	-81,007	-50,946	-20,721	-13,515	3,877	-32,278	-27,537	-66,827	-69,286	-68,506	-74,173	-41,092	-36,023	-29,526	-36,219	-33,938	-33,334	-39,816	-19,792	-431,012	-392,407	-346,359	-394,080	13,900	-17,693	-88,438	-53,776	-83,276	0	0	0
Cash flows from financing activities:
Payments of term loans
115,312	18,750	17,813	16,876	15,938	15,000	15,000	15,000	15,000	82,751	79,001	79,938	80,875	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from revolving line of credit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	347,000	347,000	347,000	347,000	0	0	0	0	-	-	-	-
Deferred financing costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8,962	0	0	0	-	-	-	-	-	-	-	-
Excess tax benefits on share-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	3,287	3,473	3,046	2,279	2,937	2,377	1,709	891	0	0	0
Borrowings under line of credit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment for employee share-based compensation payroll taxes
21,507	21,251	21,300	25,142	18,539	18,812	16,624	13,973	11,671	11,295	9,400	7,633	6,562	6,371	5,289	5,307	6,513	6,933	7,712	7,789	7,172	0	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from exercise of stock options
6,002	10,272	11,181	13,618	16,275	11,789	12,396	9,559	6,680	9,441	7,143	6,724	5,779	3,520	3,807	4,236	5,807	4,893	5,873	8,880	8,880	18,257	8,897	11,212	16,398	21,003	30,812	25,114	19,749	12,495	16,178	25,766	42,661	0	0	0	-	-	-	0
Repurchase of common stock
70,219	79,108	86,582	90,995	116,210	84,193	54,193	30,208	14,849	10,860	10,860	10,971	1,005	539	8,003	37,297	57,311	57,311	70,753	50,920	40,906	55,906	50,000	40,000	30,000	22,500	7,500	7,587	7,769	20,355	50,383	50,397	50,665	30,684	1,968	2,893	2,819	0	0	0
Payment of long term debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	43,750	43,751	367,563	368,501	369,438	370,375	22,500	16,875	0	0	0	-	-	-	-	-	-	-	-
Net cash used in financing activities
-103,078	-109,029	-123,250	-128,131	-143,148	-114,746	-73,421	-49,622	-34,840	-31,575	-28,228	-27,928	-18,773	-17,451	-40,234	-69,118	-53,767	-50,088	-51,328	-53,565	-77,934	-94,010	-89,540	-76,655	-64,041	-56,800	-37,655	-19,428	325,149	321,115	300,581	316,453	-5,725	14,863	51,749	42,071	27,895	0	0	0
Net (decrease) increase in cash and cash equivalents
-18,796	-29,179	-23,495	-16,047	4,197	21,111	33,480	21,799	10,789	-6,814	38,967	65,521	85,324	105,580	26,285	4,525	-18,518	-40,127	-26,065	-29,650	-12,866	-4,907	1,607	10,726	20,002	32,439	71,202	91,527	-3,830	21,814	25,269	4,296	108,003	99,931	62,671	80,238	38,421	0	0	0
Effect of exchange rate increase on cash and cash equivalents
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	65	0	0	0	-	-	-	-	-	-	-	-
Supplemental disclosure of cash flow information:
Interest paid
7,906	9,524	9,036	8,871	8,588	6,849	6,751	6,461	6,341	7,289	6,730	6,778	6,492	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income taxes paid
11,157	12,229	12,381	8,822	7,740	10,423	30,874	29,792	31,013	30,068	9,186	9,733	10,503	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash investing and financing activities:
(Increase) decrease in accounts payable related to capital expenditures
-2,223	713	1,734	1,163	2,024	1,550	4,201	4,332	3,789	6,120	1,674	4,038	3,373	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Conversion of note into equity
-	-	-	-	-	-	-	-	-	-	-	-694	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-