VERISK ANALYTICS, INC. VRSK Cash Flow

Verisk analytics, inc. (VRSK)

CashFlow / TTM

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	Dec'10	Sep'10	Jun'10	Mar'10
Cash flows from operating activities:
Net income
487,200	449,900	463,900	597,000	600,100	598,700	657,100	611,800	579,300	555,100	459,800	466,600	607,400	591,200	595,657	599,971	501,491	507,577	491,148	458,349	383,128	400,000	389,895	387,321	383,427	348,380	359,456	345,926	335,052	329,142	311,161	299,237	291,483	282,758	268,333	260,226	253,053	242,552	0	0	0
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of fixed assets
185,200	185,700	181,800	175,500	171,400	165,300	157,800	152,100	142,300	135,600	127,900	123,500	121,100	126,200	131,749	135,850	135,078	120,620	109,621	98,071	90,166	86,500	84,000	79,753	75,841	70,279	62,905	57,915	54,194	50,624	48,317	46,401	44,166	43,827	43,778	43,015	42,104	40,728	0	0	0
Amortization of intangible assets
145,800	138,000	132,500	132,400	130,800	130,800	126,600	120,800	112,700	101,800	95,700	91,000	90,900	98,400	109,668	105,511	110,523	94,864	75,765	71,409	56,818	57,000	57,234	58,440	61,415	64,299	67,155	67,204	62,195	53,575	44,879	38,234	34,924	34,792	33,045	30,406	28,549	27,398	0	0	0
Amortization of debt issuance costs and original issue discount, net of original issue premium
-4,500	-3,900	-3,800	-4,400	-4,300	-4,200	-4,200	-4,200	-4,300	-4,200	-5,900	-400	-2,800	-5,000	2,871	-4,765	-12,804	-12,899	-12,381	-11,912	-3,134	-2,600	-2,654	-2,667	-2,686	-2,713	-2,736	-2,609	-2,480	-2,337	-2,098	-1,997	-1,891	-1,655	-1,513	-1,428	-1,377	-1,463	0	0	0
Provision for doubtful accounts
7,500	7,200	6,600	6,100	5,300	5,600	4,700	4,000	2,700	2,000	2,300	1,900	2,700	2,400	1,654	2,149	1,680	1,305	1,998	1,909	2,152	1,800	2,247	2,196	1,957	2,482	1,677	1,237	1,008	1,065	1,002	1,182	1,482	1,278	938	679	694	648	0	0	0
Realized gain on subordinated promissory note
-	-	-	-	-	-	-	-	-	-	-	-	-	14,500	14,901	14,307	14,555	14,076	14,262	15,566	15,220	15,300	15,369	15,276	15,261	14,930	14,804	14,282	13,750	13,111	12,466	12,393	12,435	12,615	12,552	12,252	11,834	11,573	0	0	0
Other operating expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	585	901	580	769	789	0	0	0
Realized gain on subordinated promissory note
-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of assets
0	-	0	-	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Stock-based compensation expense
53,100	42,700	44,800	46,300	38,900	38,500	37,700	36,200	34,100	31,800	30,400	28,900	31,000	30,000	28,871	27,995	31,818	30,542	29,448	28,290	19,541	20,300	20,665	21,189	21,499	21,087	22,138	21,998	24,821	24,696	24,671	23,978	23,284	22,656	22,596	23,345	21,230	21,298	0	0	0
Gain on sale of subsidiary
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	65,400	65,410	65,410	65,410	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Realized loss (gain) on available-for-sale securities, net
0	900	300	400	300	-100	0	0	0	-	-	-	-	-500	-481	-514	-394	-200	159	199	305	300	129	123	90	-92	-93	-732	-855	-332	-53	499	654	686	426	521	425	95	0	0	0
Deferred income taxes
-32,700	-29,300	-400	19,400	22,200	18,300	-78,200	-74,600	-73,500	-73,600	12,400	8,600	-3,700	14,800	-7,248	9,440	13,244	-4,050	29,446	20,729	28,746	24,600	34,904	39,614	39,878	44,140	69,675	64,803	64,232	63,261	22,878	19,126	21,130	21,321	10,104	11,447	9,163	10,294	0	0	0
Loss on disposal of fixed assets, net
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on disposal of fixed assets, net
-	-	0	0	-	-	0	0	-	-	-	-	-	-1,000	-1,281	-1,182	-264	-379	-488	-262	-332	-1,000	-662	-935	-885	-628	-985	-1,004	-1,030	-597	-321	-668	-765	-868	-793	-422	-324	-239	0	0	0
Excess tax benefits from exercised stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	109,946	0	0	0	-	-	-	-	-	-	-	-	49,015	0	0	0
Other operating activities, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-448	-498	-311	-248	-265	-214	-84	-127	-132	-514	-258	-228	-198	0	0	0
Changes in assets and liabilities, net of effects from acquisitions:
Accounts receivable
85,200	70,300	87,600	104,300	24,300	17,400	33,800	54,600	89,200	45,500	34,300	20,600	2,700	5,700	21,660	31,390	42,515	14,609	-8,681	4,333	53,516	54,500	30,899	1,328	-7,813	-2,106	-6,076	1,525	-15,269	6,425	4,507	22,599	22,930	25,926	8,350	12,844	19,335	24,559	0	0	0
Prepaid expenses and other assets
36,000	19,700	7,400	600	23,500	28,200	26,600	32,400	32,800	30,600	30,500	38,100	35,300	26,500	13,062	4,347	-13,239	-12,000	-5,164	-13,740	4,107	9,600	9,761	14,283	2,394	2,386	11,303	5,435	-807	-550	-7,635	-9,651	-2,289	2,720	999	1,679	2,400	-899	0	0	0
Operating lease right-of-use assets, net
51,800	51,300	10,200	300	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income taxes
30,700	15,000	-2,900	5,100	-2,000	-2,900	22,500	29,200	-1,000	22,700	-22,500	-56,300	7,200	8,700	52,164	101,422	44,229	51,580	13,047	-19,250	-625	13,700	36,476	60,298	63,337	39,661	32,757	47,953	84,046	83,711	0	0	0	-	-	-	-	-	-	-	-
Acquisition-related liabilities
0	-	0	-	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Federal and foreign income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0
State and local income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0
Accounts payable and accrued liabilities
124,700	150,900	151,300	53,700	25,300	58,100	49,700	46,900	53,800	28,500	26,300	7,200	15,200	-2,600	-14,857	-7,839	-21,763	-8,832	13,689	11,981	12,417	12,700	19,591	20,181	37,342	34,022	20,355	22,547	-3,984	11,256	6,127	6,534	16,602	15,468	20,104	7,477	7,655	4,340	0	0	0
Deferred revenues
31,300	11,400	21,000	43,800	19,400	800	33,300	42,000	60,200	29,200	24,300	10,200	13,400	-8,200	1,926	10,749	-3,981	-43,546	-35,323	-21,261	12,717	22,100	10,249	21,770	29,545	26,970	24,277	30,321	22,136	20,493	27,120	38,891	40,416	12,373	16,274	15,545	16,768	20,984	0	0	0
Operating lease liabilities
50,900	49,500	27,200	18,500	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Pension and postretirement benefits
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-13,704	-15,589	-15,865	-14,555	-14,800	-14,623	-13,357	-12,971	-11,392	-14,552	-19,120	-96,169	-105,829	-96,192	-94,660	-20,840	-13,599	0	0	0	-	-	-	-
Other liabilities
-12,600	-6,900	-6,500	700	300	-35,200	-30,700	-37,700	-40,200	-17,800	-17,500	-14,000	-4,900	-4,800	-3,173	5,765	-3,634	2,775	1,670	-3,142	-1,111	-1,000	-9,099	-16,389	-38,167	-41,593	-38,743	-32,295	-15,297	-13,860	-24,616	-24,527	-23,737	-22,076	-1,131	-6,262	-6,069	-4,412	0	0	0
Net cash provided by operating activities
952,800	956,300	953,500	966,500	973,500	934,400	912,300	848,000	752,600	743,500	685,200	622,200	591,500	577,500	588,043	653,286	656,597	623,687	630,809	558,066	527,562	489,400	499,103	547,064	548,491	506,920	533,684	527,485	469,873	468,229	372,964	376,069	419,753	375,721	417,979	350,085	344,424	336,032	0	0	0
Cash flows from investing activities:
Acquisitions, net of cash acquired of $0 and $3.7, respectively
630,100	699,200	185,800	145,900	185,500	138,200	260,900	824,900	828,600	873,300	696,800	171,300	134,200	67,700	91,674	52,674	2,857,828	2,858,233	2,842,958	2,842,958	31,604	35,200	4,001	4,001	4,984	983	27,405	439,166	438,736	769,513	0	0	0	-	-	-	-	189,578	0	0	0
Proceeds from sale of assets
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from subordinated promissory note
-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale of subsidiary
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	151,200	151,170	155,000	155,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Payments to Acquire Equity Method Investments
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	101	101	101	101	5,000	5,000	5,000	5,000	0	250	250	250	2,250	0	0	0	-	-	-	-	-	-	-	-
Escrow funding associated with acquisitions
-	-	13,100	8,600	-	14,900	17,000	35,400	32,200	41,600	32,900	18,900	16,200	6,400	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	38,800	0	0	0	-	-	-	-	15,980	0	0	0
Capital expenditures
224,500	216,800	229,300	223,800	233,000	231,000	224,200	210,300	195,600	183,500	171,700	166,800	156,800	156,500	158,973	168,246	172,178	166,138	149,573	131,128	135,416	146,800	141,053	158,235	154,055	145,976	126,564	101,346	84,996	74,373	73,628	68,190	63,623	59,829	58,360	51,242	44,791	38,641	0	0	0
Purchases of available-for-sale securities
-	-	-	100	-	-	-	200	300	-	400	400	400	300	311	236	157	165	171	197	202	200	950	935	2,129	5,870	5,470	5,623	4,740	1,784	1,444	1,339	1,380	1,549	1,614	1,592	1,224	516	0	0	0
Proceeds from sales and maturities of available-for-sale securities
-	-	-	900	-	-	-	300	400	-	500	500	500	500	507	458	439	388	400	449	533	500	2,040	1,939	3,735	7,484	6,279	6,555	4,799	1,932	1,486	1,229	1,474	1,730	1,820	1,936	1,562	743	0	0	0
Other investing activities, net
-4,700	7,400	8,300	7,000	5,600	2,700	9,700	10,200	10,200	7,100	-9,600	-9,600	-9,600	-9,000	600	600	600	0	0	0	0	-	-	-	-	-280	0	0	0	-	-	-	-	-	-	-	-	-283	0	0	0
Net cash used in investing activities
-895,100	-927,900	-436,100	-263,500	-317,200	-265,400	-385,400	-1,080,800	-1,066,600	-1,105,500	-910,000	-352,100	417,100	493,200	468,185	509,541	-3,012,392	-3,006,317	-2,970,177	-2,971,242	-170,590	-35,500	1,206	-12,144	-8,153	-145,626	-152,236	-559,544	-544,079	-883,583	-856,427	-418,580	-557,787	-204,129	-400,607	-393,351	-242,214	-243,689	0	0	0
Cash flows from financing activities:
Repayments of short-term debt, net
0	-	-	-	0	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Proceeds from issuance of short-term debt with original maturities greater than three months
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds (repayment) of short-term debt, net
-	-	-275,000	-410,000	-	-300,000	0	0	0	-	-	-	-	-770,000	-885,000	-1,005,000	-140,000	-105,000	70,000	190,000	30,000	160,000	0	0	0	-10,000	-115,000	197,224	222,224	357,224	449,913	87,081	150,946	10,000	0	0	0	-	-	-	-
Repayments of current portion of long-term debt
0	250,000	250,000	250,000	250,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of long-term debt, inclusive of original issue premium and net of original issue discount
221,800	619,700	619,700	397,900	397,900	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment of debt issuance costs
3,400	6,300	5,300	4,100	2,900	0	0	0	0	-	-	-	-	-	-	-	-	23,942	24,442	23,553	9,600	500	0	0	0	-	-	-	-	-	-	-	-	7,835	4,542	6,215	2,037	1,781	0	0	0
Repurchases of common stock
398,800	300,000	356,400	384,200	477,400	438,600	282,300	189,600	213,200	276,300	420,500	476,500	309,700	326,800	202,956	136,856	136,856	20,456	595,407	656,380	690,339	778,500	299,534	263,936	343,442	277,411	0	0	0	-	0	0	0	-	-	-	0	-	-	-	-
Net share settlement of taxes from restricted stock awards
-	-	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefits from exercised stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	109,946	0	0	0	-	-	-	-	-	-	-	-	49,015	0	0	0
Proceeds from stock options exercised
60,000	52,400	58,400	72,600	81,400	87,300	83,700	59,600	45,000	35,000	34,500	47,200	43,900	41,100	40,148	37,028	35,195	38,831	35,028	27,780	25,132	24,600	49,897	64,763	75,717	80,368	76,143	65,463	66,254	68,388	58,483	58,766	54,355	43,345	43,754	36,781	39,061	35,482	0	0	0
Dividends paid
166,500	163,500	122,700	81,900	40,900	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other financing activities, net
-15,700	-15,900	-19,500	-13,900	-16,400	-14,800	-8,200	-8,300	-7,800	-7,800	-7,600	-7,100	-4,300	-4,900	-5,647	-6,962	-5,838	-6,031	-6,036	-6,174	-5,725	-5,700	-5,868	-4,754	-5,881	-6,770	-6,748	-7,219	-6,582	-6,549	0	0	0	-	-	-	-	-	-	-	-
Net cash used in financing activities
-38,100	10,900	-356,100	-678,900	-622,000	-669,800	-520,300	218,200	300,600	362,500	198,000	-320,500	-978,700	-1,064,200	-1,050,122	-1,098,851	2,335,270	2,481,013	2,075,769	2,128,696	-629,532	-579,100	-247,801	-288,660	-380,393	-284,472	-298,754	107,980	227,178	313,555	528,718	88,629	152,094	-34,780	-71,701	-12,248	-132,190	-108,787	0	0	0
Effect of exchange rate changes
5,300	6,100	2,900	-2,800	-4,600	-2,000	-1,000	5,900	8,200	6,700	4,100	-5,300	-6,700	-9,700	-10,183	-13,019	-474	606	-124	10,465	-2,027	-1,300	-221	601	73	-840	-261	-532	-544	15	-331	-890	-368	-183	-80	657	226	-109	0	0	0
Increase in cash and cash equivalents
24,600	45,100	164,200	21,300	29,700	-2,800	5,600	-8,700	-5,200	7,200	-22,700	-55,700	23,200	-3,200	-4,077	50,957	-20,999	98,989	-263,723	-274,015	-274,587	-126,500	252,287	246,861	160,018	75,982	82,433	75,389	152,428	-101,784	44,924	45,228	13,692	136,629	-54,409	-54,857	-29,754	-16,553	0	0	0
Cash and cash equivalents classified within current assets held for sale, beginning of period
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Supplemental disclosures:
Income taxes paid
136,400	139,800	120,400	106,600	105,600	103,200	117,400	138,600	186,600	186,300	218,400	245,300	291,200	289,200	268,027	220,180	158,036	158,494	176,905	210,790	206,166	205,500	165,105	138,441	129,249	126,846	98,702	80,809	46,466	47,516	86,208	74,529	115,605	117,717	99,390	130,988	116,344	113,609	0	0	0
Interest paid
127,200	119,900	120,900	121,900	121,200	125,200	126,500	123,100	119,400	113,900	109,600	108,400	112,900	116,600	125,315	131,021	106,270	106,098	73,216	71,175	67,571	67,200	67,633	70,057	72,422	75,084	77,564	73,387	74,237	60,977	63,713	56,780	45,038	48,158	34,514	34,687	34,240	32,989	0	0	0
Noncash investing and financing activities:
Debt issuance costs included in accounts payable and accrued liabilities
0	-	0	-	0	-	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repurchases of common stock included in accounts payable and accrued liabilities
-	-	-	0	-	-	-	0	0	-	-	0	0	-	-	-	0	-	-	-	-	-	-	-	0	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	0
Deferred tax asset established on date of acquisition
43,300	43,400	3,500	600	4,100	5,600	26,300	71,500	70,100	74,400	54,100	12,400	10,600	4,700	0	0	0	-	-	-	-	-	-	-	-	1,187	158,624	121,680	121,680	80,979	0	0	0	-	-	-	-	-	-	-	-
Right-of-use assets obtained in exchange for new operating lease liabilities
0	247,600	247,600	247,600	247,600	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Finance lease obligations
20,000	20,200	27,700	19,300	15,300	21,300	19,500	21,800	18,600	10,900	4,400	11,600	11,400	11,700	12,062	1,415	1,604	1,720	2,476	5,631	5,906	6,000	6,180	9,680	10,024	10,512	9,339	2,932	4,445	3,869	3,109	2,278	750	7,248	7,972	8,965	7,899	1,554	0	0	0
Operating lease additions, net of terminations
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating lease obligations
-	-	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Tenant improvement
-	-	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	1,588	1,412	689	301	9,100	8,856	8,859	8,799	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Fixed assets included in accounts payable and accrued liabilities
1,600	1,600	-1,800	-500	0	300	5,300	2,500	2,200	2,900	900	2,600	1,900	1,900	4,472	-281	3,621	2,777	-957	3,511	334	100	4,732	3,781	2,172	5,960	6,838	6,508	7,851	4,946	3,657	4,994	4,632	3,437	2,173	1,777	1,633	2,138	0	0	0
Dividend payable included in other liabilities
1,500	600	1,000	200	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of assets
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Held for sale assets contributed to a nonpublic company
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-