Bio-techne corp (TECH)
CashFlow / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10Mar'10Dec'09Sep'09
CASH FLOWS FROM OPERATING ACTIVITIES:
Net earnings

186,911

195,132

93,067

96,072

121,313

96,398

127,690

126,150

112,059

114,487

75,668

76,086

74,102

82,226

98,050

104,476

105,179

99,178

106,535

107,735

108,230

115,581

107,427

110,948

112,535

114,012

114,321

112,561

111,391

110,029

110,478

112,331

113,421

112,729

113,450

112,302

109,866

111,190

109,377

109,776

0

0

0

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

81,665

79,879

79,204

78,171

75,404

72,355

68,092

64,463

62,059

61,824

61,815

60,036

55,949

50,739

45,723

42,764

41,602

40,047

39,352

37,226

33,038

28,683

23,644

19,175

16,906

14,989

13,306

12,321

12,380

12,431

12,437

12,467

12,124

10,956

9,827

8,700

8,005

8,123

8,133

8,130

0

0

0

Costs recognized on sale of acquired inventory

935

1,870

2,804

3,739

3,246

3,742

3,072

2,455

2,280

1,486

-864

3,037

4,762

5,207

8,537

5,431

5,148

4,963

4,907

6,961

8,420

8,700

8,916

7,480

5,317

5,172

4,968

4,501

5,199

6,122

6,689

7,573

7,705

5,750

3,983

1,835

0

0

0

-

-

-

-

Deferred income taxes

6,173

10,329

-10,421

-13,582

-9,800

-12,285

-48,300

-46,716

-46,140

-42,586

-4,447

-3,433

-6,568

-5,572

-2,679

-2,624

719

951

1,806

1,304

451

-930

-3,141

-2,853

-4,578

-4,053

-3,086

-2,534

-1,664

-1,378

-7,074

-7,363

-7,753

-5,633

1,317

3,194

4,085

381

-710

-1,551

0

0

0

Stock-based compensation expense

34,479

32,349

29,081

32,280

38,804

37,827

36,010

28,240

16,999

16,225

15,250

14,631

13,973

12,316

10,568

9,430

7,908

6,879

6,633

5,957

5,613

5,065

4,316

3,523

3,125

2,671

2,130

1,864

1,626

1,581

1,654

1,641

1,590

1,436

1,292

1,138

1,112

1,106

1,169

1,135

0

0

0

Fair value adjustment to contingent consideration payable

-1,505

-1,200

-1,100

-2,000

-1,100

-500

12,400

20,100

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Fair value adjustment on available for sale investments

-92,293

-104,155

24,266

16,067

0

0

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other operating activity

-604

177

272

2,325

1,367

1,560

2,716

776

4,790

5,057

2,754

2,215

-1,419

-1,361

-515

-279

352

-52

199

157

-134

-311

-540

-592

-805

-827

-776

-763

-622

-334

-318

-230

15

-150

-198

-225

-558

-480

-333

-222

0

0

0

Net (gain) loss from equity method investees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-271

-446

-603

-740

-794

-796

-926

-1,053

-1,223

-1,500

-1,510

0

0

0

Change in operating assets and operating liabilities, net of acquisition:
Trade accounts and other receivables, net

-828

12,898

24,712

15,000

25,235

13,488

3,943

2,700

-9,656

-5,356

-40

19,686

28,308

34,800

29,394

22,981

19,047

7,977

15,932

11,747

-691

103

-1,673

-1,145

6,877

3,088

3,493

2,334

-230

-286

2,634

2,096

2,409

3,520

1,931

3,624

3,928

6,161

3,603

4,034

0

0

0

Inventories

12,106

9,816

7,689

13,647

13,301

14,026

14,559

13,327

8,732

5,748

3,764

732

5,965

4,564

5,864

6,626

4,069

5,014

5,564

4,714

7,073

5,911

4,925

2,895

888

2,097

1,428

2,216

2,023

2,010

2,435

1,577

2,590

1,716

974

1,021

-291

534

1,073

2,368

0

0

0

Other current assets

948

-240

1,893

698

-924

797

-1,380

-2,782

-683

1,002

2,645

2,088

1,248

-1,364

-990

381

1,071

1,630

1,394

620

1,111

1,085

241

554

-169

-191

86

33

323

676

583

476

274

-236

-183

-256

-298

-35

55

186

0

0

0

Trade accounts payable, accrued expenses, contract liabilities, and other

8,155

7,831

4,450

6,101

11,338

15,147

8,696

5,026

62

-4,289

1,000

5,695

10,732

16,243

13,472

8,924

6,154

-874

3,225

2,154

2,283

3,319

709

1,368

1,033

-1,011

-803

243

-275

406

201

1,581

703

1,686

1,302

-591

598

-331

-671

-74

0

0

0

Contingent consideration payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,900

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Salaries, wages and related accruals

25

-1,235

2,506

5,013

3,968

-4,480

-4,930

-89

-5,803

1,371

4,283

661

6,134

6,456

172

5,725

2,882

314

-2,553

1,679

264

1,269

2,142

1,034

735

441

928

-92

-29

549

261

686

1,233

1,432

1,874

1,268

1,127

278

347

414

0

0

0

Income taxes payable

9,104

11,764

-3,423

-9,520

3,514

8,678

1,590

10,204

-3,280

-6,535

1,599

699

1,936

1,392

-3,056

298

-405

1,398

6,958

1,881

-2,237

-2,038

-903

-1,939

1,191

-471

36

-837

3,809

1,329

-1,390

-2,057

-3,245

-1,925

377

3,433

1,887

52

-414

-1,518

0

0

0

Net cash provided by operating activities

216,372

206,565

182,710

181,619

190,512

172,500

165,119

170,367

156,376

159,746

161,915

143,721

129,521

141,638

138,826

144,157

144,648

138,287

135,474

139,359

140,141

144,299

139,895

136,762

128,828

126,919

126,884

123,562

130,988

132,426

121,577

126,746

124,005

121,928

130,923

127,194

124,302

115,134

113,934

111,260

0

0

0

CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from sales of available-for-sale investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

36,727

41,743

60,296

64,291

90,312

117,758

124,906

134,019

117,091

81,269

46,229

27,045

0

0

0

Proceeds from sale and maturities of available-for-sale investments

127,031

84,643

32,890

21,579

47,042

35,161

32,888

36,390

9,018

11,050

9,581

6,079

3,620

-1,562

-3,154

776

2,250

7,516

7,516

13,466

254,652

265,097

283,200

289,410

96,377

115,481

108,099

103,610

65,149

52,822

54,273

67,435

63,928

52,004

41,956

39,501

44,976

51,582

56,638

39,555

0

0

0

Purchases of available-for-sale investments

56,510

42,574

47,652

43,475

43,203

31,510

20,265

8,571

4,505

4,505

-3,767

3,069

1,625

1,625

6,836

0

0

0

0

-

-

-

-

106,746

112,896

141,969

118,603

112,712

112,103

105,588

123,819

147,011

143,849

154,820

152,748

151,366

184,015

244,790

213,185

176,621

0

0

0

Additions to property and equipment

46,063

41,706

31,746

25,411

19,537

18,120

19,851

20,934

20,984

21,492

18,010

15,179

12,365

11,185

13,219

16,898

20,778

22,866

21,121

19,905

15,073

14,410

14,915

13,821

17,065

19,177

23,750

22,454

18,241

13,455

7,436

6,017

6,157

5,162

3,674

3,630

3,480

4,254

5,133

4,644

0

0

0

Acquisitions, net of cash acquired

17,206

17,205

17,263

289,492

275,071

329,494

329,446

67,851

64,910

8,500

5,415

253,785

254,476

264,464

267,457

91,423

90,888

82,888

142,897

420,102

426,133

426,133

366,306

109,180

103,149

103,149

103,049

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Other investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-25

-969

-806

-301

-352

469

790

453

366

0

0

0

-

-

-

0

-

-

-

-

Distributions from unconsolidated entities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) investing activities

7,252

-16,842

-63,771

-336,799

-268,515

-321,709

-314,420

-38,712

-81,381

-23,447

-50,077

-305,954

-304,871

-318,861

-290,691

-107,570

-109,473

-98,635

-156,899

-426,492

-257,286

-254,219

-199,933

49,688

-118,756

-130,200

-130,417

-31,204

-28,979

-25,310

-17,139

-21,668

-128,115

-122,887

-122,269

-114,185

-26,235

-116,193

-115,401

-114,615

0

0

0

CASH FLOWS FROM FINANCING ACTIVITIES:
Cash dividends

48,771

48,578

48,467

48,364

48,269

48,178

48,081

47,973

47,452

47,400

47,351

47,325

47,723

47,682

47,645

47,607

47,587

47,568

47,529

47,107

46,687

46,244

45,815

45,394

44,975

44,588

44,202

43,463

42,724

41,991

41,304

41,018

40,736

40,438

40,088

39,691

39,355

39,032

38,706

38,388

0

0

0

Proceeds from stock option exercises

49,411

46,337

30,449

37,950

32,475

31,331

31,817

19,170

15,351

9,851

7,037

5,257

7,165

6,388

6,356

5,458

1,922

3,876

8,995

9,731

12,930

11,796

9,045

8,326

5,409

3,841

2,114

1,105

1,004

1,626

938

847

2,028

1,406

3,968

4,790

3,651

6,056

4,106

3,261

0

0

0

Purchase of common stock for stock bonus plans

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

573

573

573

573

907

907

907

907

294

294

294

294

607

0

0

0

Re-purchase of common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

23,598

21,283

17,748

10,675

1,940

0

0

0

-

-

-

-

Proceeds from long-term debt

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefit from stock option exercises

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

51

78

75

69

102

45

51

479

447

771

847

438

558

269

196

0

0

0

Proceeds from long-term debt

40,000

0

0

580,000

580,000

610,000

635,090

55,000

55,000

25,090

24,910

368,500

368,500

368,410

343,500

77,000

77,000

77,000

115,000

163,000

0

0

0

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of long-term debt

142,500

162,500

75,500

413,500

449,875

426,750

410,625

59,500

6,000

6,000

30,987

116,500

140,500

149,000

125,513

58,500

108,511

101,964

106,464

94,964

0

0

0

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of contingent consideration

-

-

-

-

-

-

-

61,900

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Debt issuance costs

-

-

0

-

-

-

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other financing activity

-3,608

-3,494

-6,497

-6,297

-4,377

-6,559

-3,910

-3,985

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) financing activities

-158,979

-168,236

-112,416

134,384

91,449

117,540

174,297

-99,188

-53,001

-76,569

-104,175

189,113

173,424

178,409

177,099

-23,370

-76,714

-68,179

-29,330

31,275

108,944

110,032

75,566

-36,806

-41,381

-42,517

-43,831

-44,677

-44,539

-46,686

-53,817

-64,625

-60,419

-57,240

-46,931

-36,288

-51,075

-49,625

-51,538

-50,511

0

0

0

Effect of exchange rate changes on cash and cash equivalents

-3,989

2,919

-1,306

-308

-4,494

-3,903

-2,786

-2,089

4,774

2,792

-5,238

495

-3,947

-4,702

-4,037

-3,512

805

-1,989

1,358

-8,178

-8,955

-5,546

-1,145

5,138

4,199

914

415

-570

-2,037

1,862

949

-1,391

1,181

3,318

2,500

6,753

3,400

-8,992

-6,740

-12,935

0

0

0

Net increase (decrease) in cash and cash equivalents

60,655

24,406

5,217

-21,104

8,953

-35,572

22,210

30,378

26,768

62,522

2,875

27,375

-5,873

-3,516

20,747

9,705

-40,734

-30,516

-49,397

-264,036

-17,156

-5,434

14,383

154,782

-27,110

-44,884

-46,949

47,111

55,433

62,292

51,570

39,062

-63,348

-54,881

-35,777

-16,526

50,392

-59,676

-59,745

-66,801

0

0

0

Supplemental disclosure of cash flow information:
Cash paid for income taxes

0

0

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash paid for interest

0

0

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-