VERISK ANALYTICS, INC. VRSK Cash Flow

Verisk analytics, inc. (VRSK)

CashFlow / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09
Cash flows from operating activities:
Net income
449,900	598,700	555,100	591,200	507,577	400,000	348,380	329,142	282,758	242,552	126,614
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of fixed assets
185,700	165,300	135,600	126,200	120,620	86,500	70,279	50,624	43,827	40,728	38,578
Amortization of intangible assets
138,000	130,800	101,800	98,400	94,864	57,000	64,299	53,575	34,792	27,398	32,621
Amortization of debt issuance costs and original issue discount, net of original issue premium
-3,900	-4,200	-4,200	-5,000	-12,899	-2,600	-2,713	-2,337	-1,655	-1,463	-785
Provision for doubtful accounts
7,200	5,600	2,000	2,400	1,305	1,800	2,482	1,065	1,278	648	916
Realized gain on subordinated promissory note
0	-12,300	0	14,500	14,076	15,300	14,930	13,111	12,615	11,573	76,065
Other operating expenses
6,200	0	0	-	-	-	-	-	585	789	4,039
Realized gain on subordinated promissory note
-	-	-	0	-	-	-	-	-	-	-
Stock-based compensation expense
42,700	38,500	31,800	30,000	30,542	20,300	21,087	24,696	22,656	21,298	12,744
Gain on derivative instruments
-	-	-	-	85,187	0	0	-	-	-	-
Gain on sale of subsidiary
-	-	-	265,900	0	65,400	0	0	-	-	-
Realized loss (gain) on available-for-sale securities, net
900	-100	0	-500	-200	300	-92	-332	686	95	-2,332
Acquisition related liabilities adjustment
-	-	-	-	-	-	-	-	-3,364	544	-300
Gain on sale of non-controlling equity investments in non-public companies
-	-	-	1,500	-	0	-	-	-	-	-
Gain on exercise of common stock warrants
-	-	-	-	15,602	0	0	-	-	-	-
Deferred income taxes
-29,300	18,300	-73,600	14,800	-4,050	24,600	44,140	63,261	21,321	10,294	12,190
Loss on disposal of fixed assets, net
-300	-300	-100	-1,000	-379	-1,000	-628	-597	-868	-239	-810
Non-cash charges associated with lease termination
-	-	-	-	-	-	-	-	-	-	196
Excess tax benefits from exercised stock options
-	-	-	-	40,147	22,600	109,946	60,672	53,195	49,015	19,976
Loss on extinguishment of convertible note
-	-	-	-	-547	0	0	-	-	-	-
Other operating activities, net
-	-	-	-	0	-	-448	-265	-132	-198	222
Changes in assets and liabilities, net of effects from acquisitions:
Accounts receivable
70,300	17,400	45,500	5,700	14,609	54,500	-2,106	6,425	25,926	24,559	1,990
Prepaid expenses and other assets
19,700	28,200	30,600	26,500	-12,000	9,600	2,386	-550	2,720	-899	1,839
Operating lease right-of-use assets, net
51,300	0	0	-	-	-	-	-	-	-	-
Income taxes
15,000	-2,900	22,700	8,700	51,580	13,700	39,661	83,711	46,959	44,553	-
Acquisition-related liabilities
70,400	9,700	0	-	-	-	-	-	-	-	-
Federal and foreign income taxes
-	-	-	-	-	-	-	-	-	-	13,662
State and local income taxes
-	-	-	-	-	-	-	-	-	-	5,710
Accounts payable and accrued liabilities
150,900	58,100	28,500	-2,600	-8,832	12,700	34,022	11,256	15,468	4,340	2,986
Deferred revenues
11,400	800	29,200	-8,200	-43,546	22,100	26,970	20,493	12,373	20,984	10,460
Operating lease liabilities
49,500	0	0	-	-	-	-	-	-	-	-
Pension and postretirement benefits
-	-	-	-	-13,704	-14,800	-11,392	-105,829	-13,599	-13,299	-
Other liabilities
-6,900	-35,200	-17,800	-4,800	2,775	-1,000	-41,593	-13,860	-22,076	-4,412	9,576
Net cash provided by operating activities
956,300	934,400	743,500	577,500	623,687	489,400	506,920	468,229	375,721	336,032	326,401
Cash flows from investing activities:
Acquisitions, net of cash acquired of $0 and $3.7, respectively
699,200	138,200	873,300	67,700	2,858,233	35,200	983	769,513	121,721	189,578	61,350
Proceeds from extinguishment of convertible note
-	-	-	-	453	0	0	-	-	-	-
Earnout payments
-	-	-	-	-	-	-	250	3,500	-	78,100
Proceeds from subordinated promissory note
0	121,400	0	0	-	-	-	-	-	-	-
Proceeds from sale of subsidiary
-	-	-	714,600	0	151,200	0	0	-	-	-
Payments to Acquire Equity Method Investments
-	-	-	-	101	5,000	0	2,250	0	-	-
Sale of non-controlling equity investments in non-public companies
-	-	-	-	-	0	-	-	-	-	-
Escrow funding associated with acquisitions
4,500	14,900	41,600	6,400	83,411	0	0	38,800	19,560	15,980	7,636
Proceeds from the settlement of derivative instruments
-	-	-	-	85,187	0	0	-	-	-	-
Capital expenditures
216,800	231,000	183,500	156,500	166,138	146,800	145,976	74,373	59,829	38,641	38,694
Purchases of available-for-sale securities
-	-	-	300	165	200	5,870	1,784	1,549	516	575
Proceeds from sales and maturities of available-for-sale securities
-	-	-	500	388	500	7,484	1,932	1,730	743	886
Cash received from the exercise of common stock warrants
-	-	-	-	15,602	0	0	-	-	-	-
Other investing activities, net
7,400	2,700	7,100	-9,000	0	-	-280	-1,455	0	-283	-129
Other investing activities, net
-	-	-	-	101	0	-561	0	300	-	-
Net cash used in investing activities
-927,900	-265,400	-1,105,500	493,200	-3,006,317	-35,500	-145,626	-883,583	-204,129	-243,689	-185,340
Cash flows from financing activities:
Repayments of short-term debt, net
-	-	-	-	15,000	0	0	347,224	440,000	-	-
Proceeds from issuance of short-term debt with original maturities greater than three months
0	0	455,000	0	830,000	0	0	-	120,000	215,000	-
Repayments of long-term debt
-	-	-	-	50,000	0	0	-	-	-	-
Proceeds (repayment) of short-term debt, net
80,000	-300,000	160,000	-770,000	-105,000	160,000	-10,000	357,224	10,000	35,000	-59,244
Repayments of current portion of long-term debt
250,000	0	0	-	170,000	0	180,000	0	125,000	-	100,000
Proceeds from issuance of long-term debt, inclusive of original issue premium and net of original issue discount
619,700	0	0	-	1,243,966	0	0	347,224	696,559	-	80,000
Payment of debt issuance costs
6,300	0	500	500	23,942	500	605	3,905	7,835	1,781	4,510
Repurchases of common stock
300,000	438,600	276,300	326,800	20,456	778,500	277,411	-	-	-	-
Net share settlement of taxes from restricted stock awards
5,500	3,700	2,900	3,100	2,350	1,600	0	0	-	15,051	-
Excess tax benefits from exercised stock options
-	-	-	-	40,147	22,600	109,946	60,672	53,195	49,015	19,976
Proceeds from stock options exercised
52,400	87,300	35,000	41,100	38,831	24,600	80,368	68,388	43,345	35,482	7,709
Dividends paid
163,500	0	0	-	-	-	-	-	-	-	-
Proceeds from issuance of stock as part of a public offering
-	-	-	-	720,848	0	0	-	-	-	-
Other financing activities, net
-15,900	-14,800	-7,800	-4,900	-6,031	-5,700	-6,770	-6,549	-3,268	-6,391	0
Net cash used in financing activities
10,900	-669,800	362,500	-1,064,200	2,481,013	-579,100	-284,472	313,555	-34,780	-108,787	-102,809
Effect of exchange rate changes
6,100	-2,000	6,700	-9,700	606	-1,300	-840	15	-183	-109	90
Net increase (decrease) in cash and cash equivalents, including cash classified within current assets held for sale
45,400	-2,800	7,200	-	-	-	-	-	-	-	-
Less: Decrease in cash classified within current assets held for sale
-300	0	0	-	-	-	-	-	-	-	-
Increase in cash and cash equivalents
45,100	-2,800	7,200	-3,200	98,989	-126,500	75,982	-101,784	136,629	-16,553	38,342
Supplemental disclosures:
Income taxes paid
139,800	103,200	186,300	289,200	158,494	205,500	126,846	47,516	117,717	113,609	111,458
Interest paid
119,900	125,200	113,900	116,600	106,098	67,200	75,084	60,977	48,158	32,989	34,201
Noncash investing and financing activities:
Deferred tax asset established on date of acquisition
43,400	5,600	74,400	4,700	213,048	2,700	1,187	80,979	1,324	-36,537	-
Right-of-use assets obtained in exchange for new operating lease liabilities
247,600	0	0	-	-	-	-	-	-	-	-
Operating lease additions, net of terminations
13,700	0	0	-	-	-	-	-	-	-	-
Finance lease obligations
20,200	21,300	10,900	11,700	1,720	6,000	10,512	3,869	7,248	1,554	3,659
Tenant improvement
1,700	300	0	100	1,588	9,100	0	0	-	-	-
Fixed assets included in accounts payable and accrued liabilities
1,600	300	2,900	1,900	2,777	100	5,960	4,946	3,437	2,138	1,388
Dividend payable included in other liabilities
600	0	0	-	-	-	-	-	-	-	-
Increase in goodwill due to accrual of acquisition related liabilities
-	-	-	-	-	-	-	-	250	3,500	0
Verisk Class A [Member]
Repurchases of common stock included in accounts payable and accrued liabilities
-	-	-	6,500	0	-	-	-	-	-	-
Promissory Note [Member]
Received for sale of discontinued operations
-	-	-	82,900	-	-	-	-	-	-	-
Equity Securities [Member]
Received for sale of discontinued operations
-	-	-	8,400	-	-	-	-	-	-	-