Solarwinds, inc. (SWI)
CashFlow / TTM
Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11
Cash flows from operating activities
Net income

90,291

87,399

78,633

78,113

76,305

75,007

84,425

89,778

90,918

90,581

87,211

81,343

75,338

73,740

67,864

62,443

0

0

0

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization

39,747

38,887

37,491

36,657

36,302

33,735

30,462

26,889

0

0

0

-

-

-

-

-

-

-

-

Depreciation and amortization

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

0

0

Provision for doubtful accounts

1,246

1,095

919

879

634

802

731

456

381

378

291

258

149

36

148

97

0

0

0

Stock-based compensation expense

48,902

44,908

41,098

38,980

32,935

29,906

26,515

22,649

21,039

19,270

17,740

15,264

13,974

12,776

11,886

10,690

0

0

0

Deferred taxes

2,335

1,163

-2,682

-5,205

-5,606

-5,230

-2,931

-3,612

0

0

0

-

-

-

-

-

-

-

-

Deferred taxes

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

Excess tax benefit from stock-based compensation

6,407

7,965

7,402

7,801

6,620

6,212

7,313

9,057

9,311

11,548

11,907

10,486

10,148

7,104

6,103

6,359

0

0

0

Premium on investments

-617

-707

-586

-551

-79

17

-617

-596

-1,034

-1,151

-1,416

-1,605

0

0

0

-

-

-

-

Other non-cash expenses

-938

-997

-1,254

-1,091

-1,384

-1,576

-1,580

-1,181

-1,346

-1,506

-1,036

-1,432

-1,171

-1,073

-894

-622

0

0

0

Changes in operating assets and liabilities, net of assets acquired and liabilities assumed in business combinations:
Accounts receivable

10,056

10,006

13,280

7,246

-324

2,698

2,612

6,323

3,057

3,746

6,876

5,695

11,120

6,934

7,564

7,038

0

0

0

Income taxes receivable

66

1,035

-2,650

-3,964

-3,726

-3,089

1,505

25

-83

100

63

28

-14

-112

-7

33

0

0

0

Prepaid and other assets

2,030

-489

305

2,122

1,757

3,066

2,411

87

255

232

723

1,220

1,779

520

1,536

189

0

0

0

Accounts payable

-1,851

2,643

1,475

-536

555

304

1,000

1,475

1,159

854

1,167

1,807

1,334

-140

696

56

0

0

0

Accrued liabilities and other

-7,708

-10,623

11,490

18,259

17,168

16,466

3,985

-699

-1,512

-1,033

-186

4,473

3,624

2,988

2,238

747

0

0

0

Income taxes payable

7,106

9,247

7,429

7,004

6,017

5,698

9,802

11,754

17,452

17,379

18,423

18,565

18,739

18,345

17,681

19,886

0

0

0

Deferred revenue

38,180

41,807

34,565

32,811

29,564

28,845

29,803

28,616

25,305

23,456

25,024

22,539

24,238

22,837

20,823

19,080

0

0

0

Other long-term liabilities

2,255

349

2,145

5,515

6,834

7,151

4,235

1,046

0

0

0

-

-

-

-

-

-

-

-

Net cash provided by operating activities

202,265

198,648

194,894

199,812

197,561

185,265

175,024

163,320

0

0

0

-

-

-

-

-

-

-

-

Cash flows from investing activities
Net cash provided by operating activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

0

0

Purchases of investments

21,223

24,224

20,180

18,479

0

0

0

-

-

-

-

65,929

0

0

0

-

-

-

-

Maturities of investments

14,150

14,623

14,138

18,988

22,977

26,683

45,384

48,163

45,854

46,425

33,669

33,930

0

0

0

-

-

-

-

Purchases of property and equipment

15,510

11,963

16,329

19,228

18,630

17,323

10,148

4,753

3,767

4,071

3,896

3,885

4,183

3,442

3,118

2,945

0

0

0

Purchases of intangible assets

238

175

160

229

311

8,375

8,365

8,361

8,384

472

1,175

1,203

1,259

1,355

778

745

0

0

0

Acquisition of businesses, net of cash acquired

90,015

89,771

103,642

63,700

0

0

0

-

-

-

-

66,031

99,323

107,367

97,517

109,483

0

0

0

Net cash used in investing activities

-112,836

-111,510

-126,173

-82,648

-165,261

-165,028

-213,302

-205,124

0

0

0

-

-

-

-

-

-

-

-

Cash flows from financing activities
Net cash used in investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

0

0

0

Repurchase of common stock

210,846

12,698

14,318

13,891

32,152

42,625

39,521

37,280

18,351

4,637

4,485

1,472

1,507

1,369

1,371

342

0

0

0

Exercise of stock options

11,466

11,986

10,205

10,703

11,035

11,848

12,586

13,110

10,084

10,329

11,104

10,622

11,810

10,593

9,982

11,919

0

0

0

Excess tax benefit from stock-based compensation

6,407

7,965

7,402

7,801

6,620

6,212

7,313

9,057

9,311

11,548

11,907

10,486

10,148

7,104

6,103

6,359

0

0

0

Earnout payments for acquisitions

-

-

-

-

-

-

-

-

-

-

-

4,154

4,154

3,203

3,203

3,743

0

0

0

Net cash used in financing activities

-102,973

-32,747

-36,711

-35,387

-15,139

14,793

19,736

24,245

0

0

0

-

-

-

-

-

-

-

-

Net cash provided by financing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

0

0

0

Effect of exchange rate changes on cash and cash equivalents

-9,068

-15,532

-18,772

-9,808

-4,789

3,293

5,552

3,830

3,370

1,252

-1,201

1,184

-1,722

-4,603

-2,433

-1,605

0

0

0

Net increase (decrease) in cash and cash equivalents

-22,612

38,859

13,238

71,969

12,372

38,323

-12,990

-13,729

25,771

4,886

81,989

56,995

21,237

-25,505

-3,981

-19,296

0

0

0

Supplemental disclosure of cash flow information
Cash paid for interest

362

390

475

595

660

469

321

139

0

0

0

-

-

-

-

-

-

-

-

Cash paid for income taxes

21,801

20,090

18,512

18,346

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Cash paid for income taxes

-

-

-

-

-

-

-

-

-

0

0

-

0

0

0

-

0

0

0

Non-cash investing transactions
Purchases of property and equipment included in accounts payable and accrued liabilities

0

0

0

-

0

0

0

-

-

0

0

-

-

-

-

-

-

-

-

Accrued earnout

-

-

-

-

-

-

-

-

-

-

-

1,547

0

0

0

-

-

-

-

Accrued earnout (Note 5)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0