Synnex corporation (SNX)
CashFlow / Quarterly
Feb'20Nov'19Aug'19May'19Feb'19Nov'18Aug'18May'18Feb'18Nov'17Aug'17May'17Feb'17Nov'16Aug'16May'16Feb'16Nov'15Aug'15May'15Feb'15Nov'14Aug'14May'14Feb'14Nov'13Aug'13May'13Feb'13Nov'12Aug'12May'12Feb'12Nov'11Aug'11May'11Feb'11
Cash flows from operating activities:
Net income

122,584

176,001

123,132

114,473

87,106

115,202

66,939

93,742

24,098

90,140

75,163

73,148

61,789

85,310

58,701

44,357

46,637

62,224

48,171

51,910

46,302

57,108

45,005

39,579

38,458

41,506

46,633

30,792

33,391

43,693

34,826

34,830

39,154

50,201

39,170

31,511

29,671

Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization

84,858

90,716

91,553

95,465

94,374

79,073

48,708

48,872

48,634

51,584

36,873

35,482

35,947

38,235

28,386

28,494

26,178

68,205

13,025

11,109

11,171

66,529

10,314

9,199

5,657

4,179

4,061

3,994

4,275

3,896

4,243

4,161

4,041

5,078

3,716

4,316

3,979

Amortization of intangible assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

13,716

13,462

14,593

-

17,564

15,166

5,697

2,031

1,998

1,971

1,953

2,080

2,063

2,071

2,075

1,998

1,776

1,761

2,049

Accretion of convertible notes discount

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

926

1,388

1,353

1,336

1,300

1,284

1,251

1,234

1,202

1,187

Share-based compensation

8,789

8,444

6,430

6,478

6,607

6,162

5,791

5,624

5,101

4,956

4,085

4,038

4,289

3,356

3,405

3,743

3,467

2,966

3,301

3,721

3,656

4,852

3,592

3,048

2,584

2,384

2,092

2,215

2,483

2,189

2,031

2,216

2,009

2,124

1,953

1,975

1,941

Provision for doubtful accounts

4,594

9,415

15,683

2,852

6,961

812

2,582

516

3,336

969

4,316

893

2,090

-

-

-

-

-

-

88

2,462

-

1,749

1,136

1,838

-1,388

85

2,556

1,699

-773

-1,979

-985

2,052

3,537

1,441

1,145

2,382

Tax benefits from employee stock plans

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,305

1,918

1,670

-

6,553

-1,409

-1,397

7,418

-508

-1,315

-240

855

32

693

2,043

272

1,678

719

1,737

Excess tax benefit from share-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

2,999

1,058

1,509

2,742

2,839

1,323

1,948

1,670

1,824

931

1,425

1,333

2,908

772

1,349

416

379

73

635

2,056

217

1,568

1,661

943

Deferred income taxes

7,131

1,400

2,567

4,093

10,129

18,499

703

1,847

26,023

25,170

-517

-389

1,652

1,598

329

-12

5,494

3,796

591

155

955

27,802

1,423

-3,762

400

-

-

-

-

-

-

-

-

-

-

-

-

Gains on investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-9

59

-

287

325

-229

-324

550

263

569

500

693

373

1,332

-503

-1,207

-265

641

Unrealized foreign exchange (gains) losses

2,945

-5,636

7,667

-2,230

-1,322

-5,588

-1,614

-2,324

659

811

-152

1,186

1,697

-5,934

4,793

2,728

1,422

-1,034

-14,995

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

-2,846

-1,124

-1,281

-578

-6,736

-1,053

-276

4,201

-562

-6,459

486

-28

1,140

-1,156

946

-86

-860

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities, net of acquisition of businesses:
Accounts receivable, net

-619,254

474,809

28,230

311,579

-487,937

367,921

232,056

48,189

-196,978

299,505

52,432

61,132

-36,698

129,713

37,889

15,960

-278,606

190,209

-111,940

109,373

-478,848

282,013

46,060

252,092

-52,032

296,127

85,779

-18,115

-176,302

237,658

49,338

-60,092

-113,939

160,686

105,602

-137,923

-157,844

Receivables from vendors, net

-67,600

39,711

-11,797

85,054

-86,579

8,002

10,154

71,013

-25,338

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Receivable from related parties

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-4

-219

-

317

-149

635

-69

-44

-69

43

-

-

-

227

-

243

1,872

-3,940

Inventories

162,772

-236,884

175,701

181,403

32,914

469,774

-63,480

-179,544

139,642

-223,227

116,448

259,144

109,058

185,410

185,725

98,406

-59,379

7,241

86,038

-56,850

-76,550

-25,686

23,696

195,249

136,894

88,186

65,999

-7,987

9,023

28,705

18,639

-74,679

-22,157

27,426

11,815

-23,689

-43,792

Other assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,398

1,036

28,552

-

11,931

11,767

16,127

-10,165

4,552

3,986

7,200

-7,657

-5,075

-6,231

15,371

434

3,968

-13,455

13,062

Accounts payable

-613,821

217,991

170,704

585,458

-875,761

769,482

-45,429

-141,956

-200,127

265,499

85,232

205,253

-214,022

195,248

131,406

178,918

-239,963

180,894

51,719

109,783

-365,878

184,598

-89,293

141,771

-30,713

240,125

93,779

-388

-147,327

211,054

115,547

-123,023

-95,294

200,954

-2,489

-86,677

-161,189

Other operating assets and liabilities

65,717

-115,596

-43,439

95,451

17,119

-37,911

4,143

-4,968

-56,730

-28,608

-28,492

-42,228

-1,126

-40,713

2,368

-3,598

22,163

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payable to related parties

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,526

-2,507

-

-5,928

6,093

6,040

872

1,332

-63

494

-

-

-

-

-

-

-

-

Other liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

53,963

-10,470

-27,675

-

56,396

64,129

39,782

-445

33,851

-9,991

-12,476

17,680

4,549

-13,311

-9,654

17,295

16,768

-25,303

-5,751

Other liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-2,562

10,693

-2,630

-734

-116

-3,333

-4,266

-2,674

-2,710

18

9,358

9,591

10,516

383

-7,513

Net cash provided by (used in) operating activities

58,141

347,446

249,853

110,920

-158,300

141,091

-103,095

68,384

-5,674

256,933

65,464

39,997

-185,630

51,082

-10,326

140,605

143,343

83,922

221,849

127,398

208,175

11,837

-46,867

-164,724

-35,018

-82,380

26,615

50,567

40,905

24,154

96,270

48,191

74,178

103,125

-46,226

102,831

59,423

Cash flows from investing activities:
Purchases of investments

-

-

-

-

-

-

-

-

-

4,455

4,297

1,304

2,886

8,593

50,613

28,664

4,394

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of held-to-maturity investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of trading investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,048

57

-

22

2,119

1,334

173

328

2,222

927

762

639

1,010

3,876

762

861

1,042

496

Proceeds from maturity of investments

-

-

-

-

-

-

-

-

-

-

4,268

0

1,962

-

51,609

26,558

4,719

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of trading investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

65

256

272

129

149

106

155

172

164

626

3,085

438

223

241

643

Purchases of trading and available-for-sale investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

55

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of term deposits

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

731

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from maturity of term deposits

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Refund of excess purchase consideration

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-27,998

32,253

33,044

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of property and equipment

51,900

43,991

33,020

31,612

28,800

49,832

25,453

27,660

22,360

25,416

26,830

23,654

21,646

28,072

27,626

31,676

35,859

28,611

26,164

22,931

22,400

17,156

19,952

15,976

4,293

13,622

7,216

5,086

3,041

2,941

4,245

2,690

4,605

18,818

5,384

7,322

8,629

Acquisition of businesses, net of refunds

0

780

2,412

4,389

1,846

1,064,024

0

0

5,922

475,349

57,809

-6,500

0

-

-

-

-

-

-

-

-

-5,566

0

0

390,433

1,234

4,311

20,701

877

3,462

-2,139

261

8

18,920

0

-1,399

42,834

Other

2,403

-212

925

415

-1,141

4,190

-558

-374

-410

-726

-616

-405

-517

-1,746

-2,679

-191

-1,253

-2,520

1,340

-255

-291

-571

-756

-678

-831

-

-606

-483

-279

2,147

-421

-418

-217

1,290

-428

-378

2,430

Proceeds from sale of equity-method investment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,153

0

0

3,480

0

-

-

-

-

Decrease (increase) in investment in equity-method investee

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

1,100

3,682

Changes in restricted cash, net of acquisition of businesses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

37,469

-10,025

3,289

-5,498

18,884

1,889

-4,097

-3,483

-2,100

54

387

-2,148

12,434

-1,781

-10,657

5,711

-5,474

-947

14,759

Net cash used in investing activities

-54,304

-44,558

-36,358

-36,416

-29,505

-1,105,161

-23,900

-22,659

-27,872

-530,099

-84,052

-18,053

-22,053

-36,134

-428,435

-33,030

-34,281

4,423

-92,532

21,743

6,917

-1,211

-38,123

-13,581

-388,736

-10,965

-8,642

-25,076

899

-6,080

-13,644

3,112

7,052

-52,115

2,195

-3,987

-72,481

Cash flows from financing activities:
Proceeds from borrowings

2,091,077

1,883,442

1,742,171

1,926,904

1,951,059

3,129,737

2,006,080

2,322,041

2,602,591

3,689,808

1,783,941

1,644,133

1,943,889

1,601,092

1,036,888

558,803

306,733

646,954

276,168

862,340

1,061,799

1,289,192

936,424

959,735

1,126,008

656,263

298,014

119,303

136,735

123,094

167,764

398,707

740,830

913,120

1,144,149

1,004,490

1,162,839

Repayments of borrowings

2,002,975

2,190,703

1,938,594

1,931,311

1,964,353

1,884,694

1,992,581

2,310,835

2,742,055

3,092,579

1,824,585

1,564,940

1,900,275

1,433,937

949,971

559,429

342,350

249,274

276,163

1,371,552

1,195,517

1,073,274

906,365

745,920

907,044

567,328

221,439

164,858

101,967

143,028

158,919

413,943

818,035

979,837

1,120,108

1,106,553

1,123,823

Proceeds from term loans, net of issuance cost

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

225,000

0

0

0

0

-

-

-

-

1,136

1,230

-80

85,023

Payments of term loans, capital leases and other borrowings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

184

3,002

3,007

-

3,063

259

260

271

267

251

690

741

736

723

749

2,346

2,373

561

116,143

Dividends paid

20,740

19,116

19,115

19,202

19,174

17,888

13,886

13,975

13,971

11,963

9,955

9,963

9,934

9,915

7,922

7,920

7,967

7,836

4,922

4,964

4,869

4,927

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefit from share-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

2,999

1,058

1,509

2,742

2,839

1,323

1,948

1,670

1,824

931

1,425

1,333

2,908

772

1,349

416

379

73

635

2,056

217

1,568

1,661

943

Increase (decrease) in book overdraft

-1,278

-2,244

1,039

-6,078

5,375

3,683

492

-12,284

7,081

182

2,334

-713

-637

1,002

-9,364

10,103

-4,240

5,845

-9,818

1,277

-79,540

48,807

-19,478

27,209

-28,776

17,182

43,285

0

0

2

-12,218

-4,823

-9,465

-988

7,204

-5,447

12,837

Payments of acquisition-related contingent consideration

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

170

-

0

4,736

400

0

0

0

0

-

-

-

-

-

-

-

-

Repurchases of common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

1,974

4,943

0

8,736

0

0

-

-

-

-

0

0

1,779

103

7,782

0

0

0

-

-

-

-

Proceeds from issuance of common stock

3,963

2,233

928

1,384

822

850

1,186

1,284

1,604

996

1,380

923

937

1,536

1,831

2,521

1,662

1,323

1,849

1,343

1,444

-

-

183

2,705

1,667

3,274

2,397

1,249

-1,286

682

2,107

5,731

-1,022

3,342

1,086

-742

Repurchases of common stock for tax withholdings on equity awards

2,480

6,917

109

176

709

4,691

39

195

1,488

5,949

311

578

3,033

5,631

584

223

2,620

4,642

1,005

2,724

1,457

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

0

0

0

0

-107

-

-

-

-154

-

639

416

1,411

0

-1,200

0

-137

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments for purchase of shares of subsidiary from noncontrolling interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

11,400

0

4

6,046

0

-

-

-

-

Capital contribution by noncontrolling interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

3

-76

6,484

Net cash provided by (used in) financing activities

67,567

-333,304

-228,577

-42,733

-27,087

1,224,208

-16,875

-59,795

-146,392

583,575

-46,557

69,278

32,358

157,146

70,736

3,390

-51,120

-6,897

-21,488

-107,035

-219,647

36,108

9,614

237,637

418,566

106,464

-95,231

-43,839

24,240

-29,364

-3,358

-25,138

-79,632

-71,396

35,015

-105,480

27,418

Effect of exchange rate changes on cash, cash equivalents and restricted cash

-1,300

-5,840

5,905

-4,720

2,390

-9,167

-5,626

-3,577

1,401

-879

2,408

5,088

1,797

-11,551

3,636

-2,684

160

837

-15,258

3,628

-5,817

5,745

-1,555

-3,140

1,969

-860

235

2,660

2,331

1,997

-3,490

2,293

-413

1,681

157

600

-1,227

Net increase (decrease) in cash, cash equivalents and restricted cash

70,104

-36,256

-9,178

27,052

-212,502

250,971

-149,496

-17,647

-178,537

309,530

-62,737

96,310

-173,528

160,543

-364,389

108,281

58,102

82,285

92,571

45,734

-10,372

52,479

-76,931

56,192

-3,219

12,259

-77,023

-15,688

68,375

-9,293

75,778

28,458

1,185

-18,705

-8,859

-6,036

13,133

Supplemental disclosure of non-cash investing activities:
Accrued costs for property and equipment purchases

6,262

7,212

-1,930

-231

5,066

747

1,744

-303

1,998

641

-71

448

1,221

-2,601

2,362

-2,497

5,270

932

4,138

3,787

999

2,395

550

-13

631

-

-

-

-

-

-

-

-

-

-

-

-