Ultimate Software Group Inc ULTI Cash Flow

Ultimate software group inc (ULTI)

CashFlow / TTM

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	Dec'10	Sep'10	Jun'10	Mar'10
Cash flows from operating activities:
Net Income (Loss) Attributable to Parent
57,322	65,140	49,702	36,960	27,809	14,055	27,870	28,287	29,880	29,240	18,072	19,163	16,698	14,258	25,503	39,308	42,014	44,737	42,710	29,354	27,893	25,530	22,020	20,377	18,128	14,632	10,310	6,738	4,978	4,282	3,752	3,717	2,230	2,157	0	0	0
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
57,186	49,217	43,562	36,572	35,242	34,055	32,964	31,074	29,168	27,098	24,928	23,724	22,593	21,738	21,118	20,897	20,267	19,263	18,450	17,271	16,551	16,058	15,427	15,013	14,361	13,623	12,893	12,229	11,772	11,620	11,527	11,518	11,721	11,883	0	0	0
Provision for doubtful accounts
8,515	7,855	7,546	7,199	6,249	5,727	5,031	4,441	4,200	3,213	4,004	4,883	5,020	4,687	3,907	3,108	2,747	2,264	2,508	2,488	2,400	2,523	2,199	1,879	1,639	1,159	1,088	882	1,159	1,586	1,449	1,626	1,555	1,549	0	0	0
Non-cash stock-based compensation expense
145,314	140,353	139,325	140,636	145,758	146,427	140,634	131,964	121,329	113,877	107,054	99,573	92,730	82,416	72,582	62,069	51,447	46,185	42,673	39,448	36,048	32,807	29,795	26,570	23,655	20,412	17,767	16,607	15,513	15,009	14,539	14,143	13,708	13,249	0	0	0
Income taxes
-29,246	-16,131	-27,331	-38,619	-33,964	-28,607	-13,474	-4,143	-4,272	-11,208	-18,455	-23,539	-25,337	-28,180	-19,754	-8,089	-9,012	-9,030	-7,923	-19,921	-18,919	-17,347	-19,273	-17,968	-16,554	-13,814	-13,507	-12,742	-12,977	-11,507	-9,310	-7,698	-4,669	-4,982	0	0	0
Net amortization of premiums and accretion of discounts on available-for-sale securities
540	666	462	223	-76	-308	-530	-740	-804	-755	-511	-277	-69	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefit from employee stock plan
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	25,172	23,195	21,388	19,167	19,609	17,631	15,753	12,310	11,685	10,093	9,780	8,504	7,340	9,334	6,941	6,671	0	0	0
Changes in operating assets and liabilities, net of business combinations:
Accounts receivable
56,267	48,231	26,897	33,526	37,318	34,476	40,983	25,951	25,300	35,004	31,605	43,249	45,118	34,575	35,745	27,455	20,357	16,806	15,795	15,488	13,956	16,784	18,943	18,925	20,614	15,747	11,948	7,816	3,867	10,202	5,269	15,634	12,019	10,669	0	0	0
Deferred contract costs, prepaid expenses and other current assets
39,210	37,515	29,513	27,978	19,835	9,704	14,976	19,054	18,116	14,973	14,333	12,704	11,870	12,016	8,175	8,048	5,088	5,414	5,816	2,154	2,047	2,982	3,781	4,351	4,607	1,880	2,162	1,748	6,490	4,331	2,652	9,877	2,327	3,019	0	0	0
Deferred contract costs and other assets
29,516	27,495	22,262	16,370	8,125	5,977	9,417	11,986	14,945	16,325	14,460	13,974	11,474	10,496	8,090	6,432	5,186	3,271	2,169	2,320	360	403	536	231	1,530	1,631	2,316	3,540	4,173	3,483	2,950	-428	-694	-362	0	0	0
Accounts payable
-4,215	-5,136	-5,875	290	-2,943	2,580	957	4,672	9,193	5,850	4,694	1,501	-154	-23	-1,011	47	864	996	2,241	720	2,331	-1,415	529	-1,274	527	1,319	-237	1,266	-903	1,582	-126	1,454	652	207	0	0	0
Accrued expenses, other liabilities and deferred rent
-6,550	31,633	36,903	34,828	18,913	7,498	5,091	7,913	1,790	7,403	5,633	8,482	14,129	12,507	9,475	5,120	7,561	4,582	6,892	8,084	5,737	10,752	7,124	2,850	4,881	2,859	4,217	1,819	4,377	877	1,611	1,368	2,330	938	0	0	0
Deferred revenue
41,244	32,585	27,473	25,563	24,447	24,885	22,324	27,166	24,922	27,179	33,649	37,515	38,464	36,022	25,322	17,299	7,591	6,521	9,565	8,620	9,575	9,946	10,128	9,173	8,062	5,413	5,674	6,840	7,462	8,468	8,954	9,006	10,296	9,536	0	0	0
Net cash provided by operating activities
202,529	223,871	246,833	242,570	224,237	213,985	183,499	183,409	167,197	159,521	156,602	164,686	155,292	142,698	145,448	110,697	108,562	108,087	84,010	82,749	81,703	74,212	63,626	51,418	45,303	41,663	37,108	35,926	34,095	28,411	32,805	30,579	29,298	25,416	0	0	0
Cash flows from investing activities:
Purchases of property and equipment
82,209	80,062	74,773	75,116	77,706	77,594	81,690	79,312	74,553	69,415	66,831	62,974	57,314	50,634	40,383	38,389	37,836	38,100	40,714	37,366	35,415	30,421	26,045	23,947	21,326	17,326	15,186	13,510	19,877	13,671	12,588	10,188	-222	4,980	0	0	0
Purchases of marketable securities
245,116	279,926	220,352	213,580	190,092	168,006	201,146	192,144	201,409	207,676	235,635	225,869	188,676	91,528	16,484	8,086	9,287	10,355	10,330	10,026	9,974	10,741	11,683	13,058	12,543	13,643	14,515	14,295	23,310	14,610	11,999	12,323	3,123	9,223	0	0	0
Proceeds from sales and maturities of marketable securities
246,676	204,140	149,630	148,341	124,288	121,857	152,095	140,834	147,464	123,895	80,261	63,541	28,873	11,711	8,661	8,469	9,525	10,377	10,077	9,575	8,609	10,819	11,019	13,694	13,200	12,239	14,730	12,522	14,726	14,794	11,228	12,863	11,323	9,429	0	0	0
Net change in money market securities and other cash equivalents held to satisfy customer funds obligations
164,782	-20,370	14,520	59,848	211,196	37,959	23,509	-500,789	-447,093	-537,077	-85,864	380,138	315,640	94,306	-47,619	-60,618	136,019	496,860	44,614	15,898	66,582	-20,908	187,901	286,191	309,914	162,347	43,500	-7,784	442,778	45,785	1,157	117,024	-184,063	49,315	0	0	0
Net cash used in investing activities
-319,851	-209,898	-235,435	-201,203	-355,706	-162,702	-154,111	353,656	292,959	358,245	-162,116	-614,565	-532,757	-224,757	-844	22,355	-173,874	-535,195	-110,576	-78,710	-128,357	-34,430	-214,610	-309,502	-330,583	-181,077	-58,471	-7,499	-89,001	-59,272	-14,516	-126,672	-189,753	-54,089	0	0	0
Cash flows from financing activities:
Repurchases of Common Stock
-	-	-	-	-	-	-	-	-	29,685	41,751	42,091	66,643	43,149	31,083	30,743	26,172	19,981	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	19,784	0	0	0
Net proceeds from issuances of Common Stock
817	3,323	4,790	4,947	7,499	6,565	6,058	6,471	4,983	4,659	4,696	5,092	4,382	4,703	5,225	5,519	5,482	6,208	5,532	5,462	7,553	8,139	10,965	11,692	11,321	11,284	12,416	11,173	11,143	13,282	12,532	17,368	17,528	14,897	0	0	0
Excess tax benefits from employee stock plan
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	25,172	23,195	21,388	19,167	19,609	17,631	15,753	12,310	11,685	10,093	9,016	8,504	7,340	7,434	6,401	6,671	0	0	0
Shares acquired to settle employee tax withholding liabilities
80,599	64,806	86,483	85,055	84,777	68,034	82,111	81,703	81,234	65,522	43,162	42,801	42,804	34,989	20,198	19,908	19,735	19,883	21,961	22,092	22,115	18,058	23,586	22,749	22,967	20,384	12,143	11,638	16,893	10,941	6,026	5,876	937	2,797	0	0	0
Principal payments on capital lease obligations
6,093	5,422	6,717	6,409	6,381	6,340	6,271	6,169	6,007	5,831	5,454	5,184	4,985	4,810	4,715	4,588	4,347	4,082	3,841	3,668	3,564	3,541	3,610	3,608	3,530	3,418	3,282	3,197	4,480	3,016	2,903	2,729	1,209	2,503	0	0	0
Payments of other long-term liabilities
2,125	3,750	3,626	1,875	1,750	0	100	200	300	400	400	400	569	567	932	998	2,495	2,690	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net change in customer funds obligations
164,864	55,200	89,925	133,850	286,241	97,608	83,471	-439,588	-386,856	-456,943	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other borrowings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Payments on other borrowings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	0	0	-	-	-	-	-	-	-	-
Net increase in client fund obligations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	44,614	15,898	66,582	-20,908	187,901	286,191	309,914	162,347	43,500	-7,784	76,530	45,785	1,157	117,024	182,185	49,315	0	0	0
Net cash provided by financing activities
76,864	-15,455	-2,111	45,458	200,832	29,799	1,047	-521,189	-469,414	-553,722	-22,141	428,672	346,035	85,467	-120,130	-108,077	91,039	456,432	27,146	-3,572	67,293	-17,256	179,379	277,206	300,471	151,916	51,962	-10,738	64,118	36,304	-5,210	118,499	182,788	45,799	0	0	0
Effect of exchange rate changes on cash
-2,757	-2,956	-2,276	-9	511	830	491	-155	-349	404	303	-751	-472	-2,381	-2,259	-1,666	-1,533	-820	-1,578	-693	-1,640	-1,549	-617	-541	-233	166	328	-311	-111	-183	-164	137	106	79	0	0	0
Net decrease in cash and cash equivalents
-43,215	-4,438	7,011	86,816	69,874	81,912	30,926	15,721	-9,607	-35,552	-27,352	-21,958	-31,902	1,027	22,215	23,309	24,194	28,504	-998	-226	18,999	20,977	27,778	18,581	14,958	12,668	30,927	17,378	9,101	5,260	12,915	22,543	22,439	17,205	0	0	0
Supplemental disclosure of cash flow information:
Cash paid for interest
589	596	560	530	519	498	484	456	430	426	402	390	381	371	377	364	345	327	325	334	339	358	379	457	442	419	365	253	254	241	242	244	231	218	0	0	0
Cash paid for taxes
7,124	7,581	6,529	4,761	3,527	2,192	1,875	1,583	1,606	1,758	1,851	1,706	1,135	815	654	600	634	582	563	525	515	476	487	464	454	471	422	481	478	604	571	462	452	203	0	0	0
Non-cash investing and financing activities:
Capital lease obligations to acquire new equipment
13,477	9,091	9,729	9,254	7,085	7,250	5,033	6,726	4,534	6,719	8,301	6,312	5,895	5,949	5,338	5,979	7,515	5,907	5,565	5,746	4,094	3,293	3,250	2,810	3,694	3,986	0	0	0	-	-	-	-	3,852	0	0	0
Stock consideration adjustment recorded for acquisitions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-818	818	818	818	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Software Services Agreement
-	-	-	-	-	6,500	6,500	6,500	6,500	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Stock based compensation for capitalized software
3,629	3,533	3,625	3,764	4,016	4,003	4,094	3,966	3,938	3,903	3,655	3,553	3,219	3,013	2,811	2,499	2,272	1,730	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-