TRIPADVISOR, INC. TRIP Cash Flow

Tripadvisor, inc. (TRIP)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11
Operating activities:
Net income
-16,000	16,000	50,000	34,000	26,000	8,000	69,000	31,000	5,000	-84,000	25,000	27,000	13,000	1,000	55,000	35,000	29,000	3,000	74,000	58,000	63,000	36,000	54,000	68,000	68,000	20,000	56,000	67,000	62,000	34,129	59,535	53,165	48,171	22,017	54,293	54,110	47,371
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation of property and equipment, including amortization of internal-use software and website development
25,000	24,000	23,000	23,000	23,000	21,000	20,000	21,000	20,000	22,000	19,000	19,000	19,000	18,000	18,000	17,000	16,000	15,000	14,000	14,000	14,000	14,000	12,000	11,000	10,000	9,000	8,000	7,000	6,000	5,967	5,037	4,715	4,281	5,116	4,630	4,514	4,102
Amortization of intangible assets
7,000	10,000	8,000	7,000	8,000	10,000	8,000	8,000	8,000	7,000	9,000	8,000	8,000	9,000	8,000	7,000	8,000	10,000	10,000	9,000	7,000	7,000	6,000	3,000	2,000	2,000	1,000	2,000	1,000	1,091	1,310	1,760	1,839	1,880	2,394	1,132	2,117
Stock-based compensation expense
26,000	33,000	31,000	33,000	27,000	28,000	29,000	32,000	29,000	24,000	25,000	28,000	19,000	21,000	21,000	24,000	19,000	20,000	18,000	18,000	16,000	17,000	17,000	15,000	14,000	14,000	11,000	10,000	14,000	10,077	8,463	6,768	4,692	10,865	2,037	1,968	2,474
Deferred income tax expense (benefit) and other, net
12,000	-	-	-	14,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of deferred financing costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	317	208	211	264	-	-	-	-
Amortization of discounts and premiums on marketable securities, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,000	-2,000	-1,000	-	-	-	-	-	-	-	-
Deferred tax expense (benefit)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-9,000	-7,000	2,000	-40,000	-6,000	6,000	3,000	-9,000	-5,000	-4,000	1,000	-	-	-1,000	-3,000	-5,413	487	-45	-29	-757	0	0	-174
Provision (recovery) for doubtful accounts
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,584	-284	-863	-437	308	20	372	209
Foreign currency transaction (gains) losses, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	544	-2,812	489	-225	-602	261	357
Other, net
-	-	-	-	-	-	-	-	-	-	4,000	8,000	-6,000	-	-	-	-	-	-	-	-2,000	-5,000	-10,000	-1,000	-2,000	-6,000	1,000	-1,000	-2,000	-979	488	-472	-37	346	-1,437	235	987
Excess tax benefits from stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	23,000	7,000	-	6,000	3,000	11,000	3,000	4,000	4,000	1,000	811	178	328	1,683	-80	220	502	929
Changes in operating assets and liabilities, net of effects from acquisitions and other investments:
Accounts receivable and contract assets, prepaid expenses and other assets
-14,000	-41,000	-43,000	34,000	27,000	-8,000	-66,000	27,000	55,000	-22,000	7,000	16,000	35,000	-16,000	-11,000	-14,000	65,000	-44,000	-17,000	21,000	71,000	-19,000	-20,000	27,000	38,000	-	-	-	-	-	-	-	-	-	-	-	-
Accounts receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	47,000	-	5,006	-2,185	29,640	-5,570	-3,671	5,699	19,452
Receivable from Expedia, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-8,856	7,951	26,405	-	-	-	-
Prepaid expenses and other assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,000	-	6	726	1,153	47	249	1,151	374
Accounts payable, accrued expenses and other liabilities
-21,000	-6,000	6,000	17,000	-18,000	-	-	-	-	-	-31,000	37,000	-8,000	5,000	-41,000	29,000	14,000	-11,000	-9,000	29,000	4,000	-29,000	12,000	40,000	-5,000	-2,000	20,000	16,000	-17,000	11,553	4,507	13,977	1,963	-	-	-	-
Deferred merchant payables
-86,000	-39,000	-147,000	84,000	99,000	-39,000	-148,000	91,000	110,000	-48,000	-146,000	120,000	88,000	-21,000	-137,000	107,000	72,000	-37,000	-97,000	89,000	60,000	-22,000	-66,000	45,000	34,000	4,000	-3,000	11,000	5,000	-	-	-	-	-	-	-	-
Accounts payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-3,627	-4,812	12,080	-14,081	5,985	10,565	1,664
Income tax receivables/payables, net
-30,000	-1,000	15,000	11,000	-8,000	-2,000	10,000	-10,000	15,000	-	-	-	-	1,000	11,000	9,000	-1,000	-	-	-	-13,000	26,000	9,000	7,000	18,000	-8,000	17,000	-1,000	19,000	-16,472	-4,656	-4,638	8,766	-3,364	2,064	-12,551	17,095
Deferred revenue
-1,000	-12,000	-25,000	-3,000	38,000	-10,000	-30,000	3,000	42,000	-	-	1,000	24,000	-5,000	-28,000	4,000	30,000	-3,000	-21,000	10,000	21,000	-3,000	-4,000	2,000	14,000	0	1,000	4,000	4,000	1,617	2,815	106	7,462	-225	176	2,494	4,431
Accrued expenses and other liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,010	5,799	-3,874
Net cash provided by operating activities
-70,000	60,000	1,000	181,000	182,000	31,000	14,000	186,000	174,000	18,000	-135,000	221,000	134,000	45,000	-87,000	239,000	124,000	79,000	40,000	200,000	99,000	81,000	59,000	158,000	109,000	71,000	145,000	89,000	44,000	71,071	76,452	61,758	29,719	26,161	77,850	60,555	53,316
Investing activities:
Capital expenditures, including internal-use software and website development
20,000	23,000	22,000	21,000	17,000	16,000	14,000	16,000	15,000	14,000	15,000	17,000	18,000	15,000	21,000	19,000	17,000	16,000	39,000	23,000	31,000	26,000	13,000	22,000	20,000	16,000	15,000	15,000	9,000	8,413	7,338	5,910	7,339	5,294	5,605	5,431	4,993
Acquisitions and other investments, net of cash acquired (Note 3)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	24,000	5,000	-	-	-	-	3,000	1,000	30,000	1,000	-	-	-	-	0	3,001	0	4,893
Purchases of marketable securities
-	15,000	49,000	29,000	40,000	15,000	0	0	1,000	-	-	-	-	21,000	47,000	82,000	16,000	55,000	58,000	60,000	32,000	32,000	0	16,000	203,000	57,000	29,000	132,000	214,000	-	-	-	-	-	-	-	-
Sales of marketable securities
-	-	-	-	-	0	14,000	4,000	41,000	0	2,000	1,000	102,000	22,000	22,000	7,000	33,000	115,000	26,000	21,000	25,000	11,000	1,000	272,000	52,000	51,000	56,000	54,000	14,000	-	-	-	-	-	-	-	-
Maturities of marketable securities
-	30,000	20,000	5,000	15,000	0	0	2,000	3,000	3,000	8,000	3,000	14,000	10,000	5,000	6,000	11,000	19,000	30,000	13,000	9,000	5,000	9,000	35,000	44,000	45,000	29,000	46,000	31,000	-	-	-	-	-	-	-	-
Transfers to Expedia, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-8,046	13,888	27,983	62,142
Proceeds from Expedia, Inc. related to Spin-Off
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	14,056	-7,028	-	-	-	-
Net cash provided by investing activities
-20,000	-36,000	-53,000	-45,000	-42,000	-31,000	-13,000	-33,000	28,000	-58,000	-14,000	-20,000	98,000	-23,000	-64,000	-87,000	11,000	68,000	-19,000	-73,000	-34,000	-88,000	-135,000	117,000	-127,000	20,000	40,000	-77,000	-179,000	-230,441	-7,338	-5,910	-311	-431,282	-2,138	-33,414	-72,028
Repurchase of common stock (Note 12)
115,000	-	-	-	-	0	0	96,000	4,000	0	0	100,000	150,000	84,000	9,000	11,000	1,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Principal payments on credit facilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	290,000	10,000	-	10,000	10,000	10,000	10,000	10,000	10,000	10,000	5,000	5,000	5,000	5,000	-	-	-	-
Payments to credit facility
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,000	-	0	0	15,000	0	0	0	10,000	-	-	-	-
Proceeds from credit facility
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,000	2,000	-	-	-	5,000	-	1,000	3,000	4,000	2,202	5,171	4,734	2,893	13,837	1,539	1,278	1,504
Proceeds from exercise of stock options
-	-	-	-	-	-	-	-	-	0	0	0	3,000	1,000	3,000	1,000	2,000	2,000	1,000	1,000	8,000	1,000	0	0	2,000	3,000	1,000	14,000	6,000	4,749	482	216,843	8,926	-	-	-	-
Payment of withholding taxes on net share settlements of equity awards
14,000	1,000	2,000	3,000	23,000	7,000	1,000	6,000	12,000	2,000	1,000	1,000	13,000	2,000	2,000	2,000	9,000	7,000	4,000	49,000	13,000	1,000	9,000	5,000	18,000	4,000	4,000	1,000	5,000	3,311	654	76	2,959	-	-	-	-
Payments of finance lease obligation
1,000	-	-	-	1,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefits from stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	23,000	7,000	-	6,000	3,000	11,000	3,000	4,000	4,000	1,000	811	178	328	1,683	-80	220	502	929
Other financing activities, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,000	1,000	9,000	3,000	-	-	-	-1,000	-	-	-	-	-	-	-	-	-	-	-	-
Acquisitions funded by Expedia
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	5,135
Net cash used in financing activities
570,000	-550,000	-2,000	-4,000	-24,000	-4,000	-1,000	-107,000	-246,000	-37,000	4,000	-53,000	-114,000	-10,000	-4,000	-31,000	-98,000	-96,000	-32,000	-58,000	-3,000	-26,000	-11,000	-10,000	-14,000	-15,000	-112,000	-24,000	-19,000	-22,549	177	216,829	-4,457	400,727	1,759	1,780	7,568
Effect of exchange rate changes on cash, cash equivalents and restricted cash
-1,000	-	-	-	-	-4,000	-3,000	-15,000	6,000	0	8,000	8,000	1,000	-11,000	0	-8,000	2,000	-4,000	-5,000	9,000	-12,000	-	-	-	-	0	3,000	0	-2,000	1,079	840	-3,061	142	-454	-815	886	-72
Net increase in cash, cash equivalents and restricted cash
479,000	-519,000	-63,000	130,000	116,000	-8,000	-3,000	31,000	-38,000	-77,000	-137,000	156,000	119,000	1,000	-155,000	113,000	39,000	47,000	-16,000	78,000	50,000	-36,000	-96,000	268,000	-32,000	76,000	76,000	-12,000	-156,000	-180,840	70,131	269,616	25,093	-4,848	76,656	29,807	-11,216
Supplemental disclosure of non-cash investing and financing activities:
Stock-based compensation capitalized with internal-use software and website development costs
-	-	-	-	-	-	-	-	-	3,000	4,000	3,000	3,000	3,000	3,000	3,000	3,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Capitalization of construction in-process related to build to suit lease
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	2,000	4,000	10,000	14,000	14,000	14,000	-	-	-	-	-	-	-	-	-	-	-	-
Capital expenditures incurred but not yet paid related to build to suit lease
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,000	8,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
2015 Credit Facility
Payments to credit facility
-	-	-	-	-	0	0	0	235,000	55,000	35,000	55,000	151,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from credit facility
700,000	-	-	-	-	-	0	0	5,000	-	-	-	270,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
2016 Credit Facility
Payments to credit facility
-	-	-	-	-	-	-	-	-	0	0	0	73,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-