Teradyne, inc (TER)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Apr'18Dec'17Sep'17Jun'17Apr'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'10
Cash flows from operating activities:
Net income

176,191

125,073

135,860

97,397

109,138

143,788

119,981

101,036

86,974

-105,924

103,419

174,976

85,221

66,346

63,793

-223,546

49,986

-641

71,452

102,879

32,787

-103,811

82,949

101,205

929

22,343

69,459

66,556

6,589

-16,543

88,641

111,387

33,564

129,071

56,706

87,252

96,844

65,231

147,340

122,149

50,100

Less: Income from discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-158

0

0

1,703

2,942

1,566

-381

1,001

Less: Gain on disposal of discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-832

25,203

-

-

-

-

Income from continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

129,229

56,706

88,084

69,938

62,289

145,774

122,530

49,099

Adjustments to reconcile net income from operations to net cash provided by operating activities:
Depreciation

18,489

19,292

17,626

17,231

16,651

17,470

16,774

16,820

16,336

16,857

16,769

16,331

16,143

16,345

16,269

15,976

16,192

15,650

16,301

16,885

19,345

20,558

19,047

18,526

15,259

15,444

14,321

13,437

14,115

15,237

14,234

13,290

12,288

12,614

12,781

12,588

13,057

13,341

13,066

13,208

13,195

Amortization

13,391

12,972

11,873

12,034

12,942

12,900

12,732

10,973

9,204

9,640

9,901

11,342

11,070

8,952

9,095

16,710

20,470

20,433

20,764

16,256

15,139

17,032

19,132

19,065

23,925

23,875

23,443

23,050

23,002

23,099

23,622

21,929

21,815

24,803

10,022

10,461

10,355

6,096

11,505

11,170

11,935

Stock-based compensation

10,460

9,075

10,713

8,635

9,474

8,250

7,702

8,081

9,544

8,477

8,308

8,367

8,945

7,738

7,555

7,532

7,925

7,371

7,675

7,442

7,963

8,434

8,343

8,297

15,233

9,385

9,150

9,054

9,023

9,286

9,238

10,630

10,766

9,823

7,832

7,218

7,464

7,019

7,617

7,168

7,973

Provision for excess and obsolete inventory

4,057

6,396

3,049

3,402

2,397

1,720

3,347

2,653

3,522

1,690

1,859

2,569

2,726

2,345

3,033

7,742

4,373

2,393

3,058

14,441

1,440

688

6,434

5,032

10,039

6,976

3,841

1,975

3,800

10,441

5,481

9,353

1,574

845

4,413

1,716

4,627

790

3,727

277

1,177

Deferred taxes

-1,825

-6,479

-3,492

-691

1,206

3,898

7,130

8,616

8,696

37,784

2,884

-86

-3,477

-20,368

-21,110

-15,962

-5,496

6,849

-3,602

-8,540

-1,831

-11,181

-3,050

-18,396

12,699

15,895

-3,981

-9,047

-6,183

-1,520

-8,861

8,238

7,699

-

-

-

-

-

-

-

-

Contingent consideration adjustment

-10,020

-2,797

-7,759

-11,671

2,970

10,223

-768

-3,500

-4,968

5,973

-286

1,499

634

5,445

7,973

1,305

1,173

-

-

-

-

-

-

-

-

-

-

-

-

-388

0

-6,548

-1,825

-

-

-

-

-

-

-

-

Losses (gains) on investments

-4,657

-

-

-

2,828

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Retirement plans actuarial losses (gains)

-

-

-

-

-

-

-

-

-

-

-

-

-

2,003

-662

669

1,193

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain from the sale of an equity investment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

624

4,782

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash charge for the sale of inventories revalued at the date of acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

1,218

4,871

-

-

-

-

-

-

-

-

Other

-503

-156

-181

-210

-219

-147

232

225

-1,393

-1,156

724

-1,151

-2

-451

425

-92

-484

2,557

-1,369

-2,571

1,417

-764

-945

-1,306

141

-1,083

1,112

-1,011

987

-109

1,888

-16

487

3,122

-644

-1,066

-618

-4,380

193

950

709

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

126,779

3,651

-12,689

37,772

41,706

-59,869

-101,596

38,656

140,747

4,961

-138,566

90,397

123,792

27,335

-183,890

95,678

42,552

-33,850

-51,376

117,744

24,749

-171,730

20,545

84,243

58,882

-52,307

-18,822

61,594

13,191

-52,041

-140,660

124,577

92,217

-41,134

-64,300

21,569

17,498

-130,634

57,868

69,319

53,865

Inventories

-15,818

13,265

11,696

-470

2,917

-4,619

12,834

266

21,017

-21,190

-31,919

-54,003

62,152

14,338

-18,379

-30,924

702

17,817

-9,876

-17,540

-5,960

-13,536

-19,798

-15,834

-2,635

11,912

-7,821

-30,413

4,040

7,418

-3,624

2,190

-23,636

-419

-13,972

4,297

10,709

5,981

14,535

-7,847

-16,384

Prepayments and other assets

39,620

7,666

-949

-1,581

18,648

29,683

30,360

-2,320

679

5,108

-2,937

-3,321

-1,104

5,921

-384

12,509

1,148

12,495

-1,475

-10,908

-3,146

6,247

-20,784

-27,628

628

23,260

9,035

16,207

1,070

10,273

-2,251

-3,142

-1,885

7,956

3,209

8,078

2,266

-

-

-

-

Accounts payable and other liabilities

-35,323

28,472

35,231

38,899

-53,323

-2,431

24,279

38,551

-46,706

38,276

-29,206

42,057

-7,553

46,404

-33,544

-7,386

1,346

5,785

-729

73,542

-20,150

-74,539

-23,687

98,283

-45,487

15,222

15,411

31,976

-47,404

-15,210

-44,740

36,399

-9,259

-739

-38,208

16,739

-26,014

-33,088

42,912

52,134

243

Other assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-20,066

Deferred revenue and customer advances

-913

11,534

11,953

9,371

6,455

3,556

-695

874

9,644

-29,551

29,223

8,645

-3,333

-57,014

-52,692

119,908

-13,836

10,260

1,066

4,647

1,038

7,767

466

4,168

9,632

-19,730

-6,438

7,189

-10,000

-3,976

-4,453

-4,494

-1,704

-10,055

-29,965

-3,786

-24,553

-3,276

13,119

98,315

-35,414

Retirement plans contributions

-1,262

-1,311

-1,361

-1,204

-1,210

-1,090

-1,071

-1,153

-1,020

-1,044

-2,875

-1,036

-947

-173

-3,573

-1,048

-1,250

-9,097

-999

-980

-1,019

-30,635

-893

-963

-1,425

-1,971

-1,058

-1,448

-1,063

-1,099

-1,129

-1,489

-1,061

-5,458

-1,148

-4,069

-1,176

-1,603

-26,172

-18,018

-6,659

Income taxes

15,278

17,640

-16,251

7,831

-22,804

-47,277

-6,844

-14,202

-12,106

157,994

1,445

75

14,288

14,207

4,221

58

-52

-30,833

2,416

18,599

4,662

14,209

4,713

15,104

-9,609

-13,070

10,786

12,049

-9,085

-30,509

20,355

30,334

-376

-

-

-

-

-

-

-

-

Net cash used for operating activities

-

-

-

-

-

-

-

-

-81,930

-

-

-

-61,121

-

201,383

180,862

35,720

50,470

179,149

155,925

37,532

174,957

133,751

209,175

-25,821

44,276

155,457

105,471

-36,494

-

-

-

-

60,876

92,975

101,965

23,843

175,296

253,906

107,284

24,843

Net cash used for discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-579

0

0

-4,225

1,200

1,907

607

1,243

Net cash provided by operating activities

43,102

216,328

199,148

145,258

18,016

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

248,972

102,092

11,169

60,297

92,975

101,965

19,618

176,496

255,813

107,891

26,086

Cash flows from investing activities:
Purchases of property, plant and equipment

36,700

38,594

37,092

33,245

25,711

26,110

25,606

27,866

34,797

32,128

27,280

23,901

22,066

19,020

19,659

26,259

20,334

23,151

20,617

24,961

21,149

22,630

54,963

60,192

31,197

23,806

32,127

28,251

22,547

27,948

33,328

30,730

27,074

19,474

22,156

22,336

22,131

22,085

18,253

18,119

17,587

Purchases of marketable securities

187,119

57,162

121,358

108,997

375,184

109,223

162,450

156,747

490,324

355,394

701,704

181,502

153,317

780,430

438,526

215,533

221,778

466,396

367,356

254,615

335,635

734,687

320,750

266,046

257,260

511,942

200,494

333,556

124,514

238,072

356,286

73,776

80,095

92,562

94,720

287,252

211,289

392,517

254,440

128,421

95,399

Proceeds from maturities of marketable securities

98,457

218,455

160,279

91,992

141,201

336,339

464,238

257,164

212,698

228,426

165,648

219,423

88,184

41,070

74,138

54,566

73,458

29,901

98,947

91,194

140,222

74,793

118,129

97,114

280,322

114,598

133,355

148,994

119,552

68,663

70,230

39,643

46,549

-

-

-

-

-

-

-

-

Proceeds from sales of marketable securities

15,005

45,312

17,820

37,014

5,440

2,958

14,111

28,382

800,671

84,577

129,915

99,661

213,593

386,050

131,946

95,428

239,370

472,397

212,334

482,761

148,639

623,669

83,242

51,455

101,363

125,523

282,713

28,561

21,694

24,034

4,222

3,772

6,256

119,371

573,104

-134,113

188,448

60,057

47,579

40,198

7,069

Acquisition of businesses, net of cash acquired

-149

-

-

-

6,970

-

-

145,276

25,356

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from the sale of an equity investment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

624

4,782

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sales of trading marketable securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,580

50

23,550

150

Proceeds from life insurance

-

0

-2,639

0

-273

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-1,098

-8,575

0

0

4,391

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by investing activities

-

-

-

-

-

-

-

-

462,892

-

-

-

126,394

-

-252,101

-86,747

70,716

12,751

-77,101

12,671

-62,043

-78,481

-174,342

-177,669

97,619

-276,721

183,447

-184,252

-5,815

-

-

-

-

-574,581

575,502

-77,559

-44,972

-215,128

-225,064

-81,701

-105,767

Net cash provided by discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

32

39,030

-

-

-

-

Net cash used for investing activities

-110,208

110,239

22,288

-28,236

-260,951

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-315,162

-61,091

-54,364

-574,581

575,502

-77,527

-5,942

-215,128

-225,064

-81,701

-105,767

Cash flows from financing activities:
Issuance of common stock under stock purchase and stock option plans

12,752

32

14,191

821

14,268

14

10,278

27

10,654

31

9,247

131

15,084

388

2,189

8,756

9,140

1,385

267

8,979

8,899

261

10,387

478

10,165

818

7,140

717

8,921

518

975

7,059

9,925

169

164

6,976

10,076

2,454

352

35,794

6,079

Repurchase of common stock

79,039

131,218

121,560

90,754

156,468

261,215

201,468

226,519

134,276

48,483

57,493

56,598

37,730

61,239

28,309

28,782

28,001

73,106

98,527

81,666

46,650

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Dividend payments

16,700

15,036

15,250

15,419

15,600

16,002

16,638

17,094

17,588

13,717

13,805

13,904

14,021

12,071

12,123

12,172

12,253

12,279

12,577

12,808

13,049

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments related to net settlement of employee stock compensation awards

22,070

191

104

128

14,318

182

90

122

19,629

297

146

149

12,289

169

77

180

8,972

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments of contingent consideration

8,852

0

0

0

27,615

0

0

0

13,571

0

0

0

1,050

0

0

0

11,697

-

-

-

-

-

-

-

-

0

0

75

313

15,737

38,149

0

5,824

-

-

-

-

-

-

-

-

Payments of long-term debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-3

0

0

190,975

-

-

-

-

1,287

0

0

1,246

0

1,296

0

1,222

0

1,182

0

1,123

Net cash used for financing activities

-113,895

-146,413

-122,723

-105,453

-199,760

-277,385

-207,918

-243,708

-174,410

-62,466

-62,197

-70,520

-50,006

347,526

-34,921

-32,378

-51,783

-92,733

-108,516

-86,856

-50,800

-13,924

-2,330

-9,507

-180,810

1,215

6,363

1,163

8,608

-15,616

-37,174

14,659

2,855

-7,143

-28,712

10,693

8,854

2,454

-830

35,794

4,956

Effects of exchange rate changes on cash and cash equivalents

571

-169

119

-190

-329

-222

472

-1,289

1,478

678

1,052

129

1,595

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Decrease in cash and cash equivalents

-180,430

179,985

98,832

11,379

-443,024

112,733

333,635

-157,489

208,030

11,166

-179,672

273,603

16,862

9,947

-83,158

61,737

54,653

-29,512

-6,468

81,740

-75,311

82,552

-42,921

21,999

-109,012

-231,230

345,267

-77,618

-33,701

-146,772

-103,364

55,660

-40,340

-521,427

639,765

35,131

22,530

-36,178

29,919

61,984

-74,725

Supplementary disclosure of cash flow information: