Virtusa corp (VRTU)
CashFlow / TTM
Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'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'10
Cash flows from operating activities:
Net income

34,605

34,564

29,276

17,691

13,822

-6,896

-1,264

8,948

16,088

29,550

26,414

16,257

16,995

22,767

29,397

45,020

44,061

44,528

43,556

42,446

40,944

38,492

35,856

34,375

33,419

31,496

29,781

28,398

25,105

23,294

22,219

20,035

19,463

18,074

17,103

16,200

0

0

0

Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization

30,977

30,119

29,493

29,001

28,522

28,484

28,167

27,537

27,378

27,019

26,307

25,852

23,802

21,319

19,027

16,479

14,955

14,040

13,551

13,552

14,069

13,500

12,537

11,502

10,423

10,033

9,597

9,040

8,645

8,480

8,548

8,305

8,158

8,158

8,070

8,398

0

0

0

Share-based compensation expense

23,237

24,504

27,794

29,056

31,467

33,543

30,561

27,411

25,148

20,778

20,778

22,123

22,885

21,820

18,783

16,179

13,441

12,801

12,156

11,098

10,415

9,567

8,927

8,166

7,420

6,786

6,236

5,876

5,425

5,135

5,223

5,102

4,836

4,504

4,256

3,921

0

0

0

Reversal of contingent consideration

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,833

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Provision (recovery) for doubtful accounts

-289

-941

-722

-864

-326

289

631

1,248

1,338

1,321

1,431

1,015

706

422

66

208

100

244

-31

-134

196

-64

298

750

283

392

489

193

0

0

0

-

-

-

-

-

-

-

-

Gain on disposal of property and equipment

359

263

21

71

85

120

10

10

86

373

365

434

433

156

120

41

0

0

0

-

-

-

-

-53

-19

-29

-7

100

87

92

92

-16

0

0

0

-

-

-

-

Foreign currency transaction losses, net

-6,636

4,748

-1,170

-13,130

-16,356

-22,099

-14,224

-3,543

6,830

3,002

6,512

3,009

3,853

5,306

3,495

7,050

238

-94

-227

-357

-162

108

-938

-396

-258

-592

-122

-68

47

441

850

227

-335

-1,066

-1,455

-1,436

0

0

0

Amortization of discounts and premiums on investments

7

-1

-28

-83

-139

-204

-271

-313

-356

-387

-902

-905

-768

-1,571

-785

-496

-2,739

-1,506

-1,365

-1,242

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of debt issuance cost

1,136

1,092

1,092

1,092

1,029

1,038

1,046

1,057

1,129

1,129

1,130

1,129

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes, net

3,485

4,814

1,752

-1,770

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-2,969

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax (benefits) expense from stock option exercises

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,610

3,982

4,904

4,692

4,192

4,252

2,876

3,198

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net changes in operating assets and liabilities
Accounts receivable and unbilled receivable

8,392

16,545

2,788

22,741

25,008

34,025

44,460

36,542

16,593

26,380

25,629

13,508

10,697

-5,425

2,014

17,123

16,568

27,874

16,936

17,128

20,289

9,771

4,446

3,429

3,912

7,179

26,904

19,462

11,880

15,686

13,087

17,883

19,085

16,532

9,195

12,668

0

0

0

Prepaid expenses and other current assets

15,027

17,995

19,994

21,498

13,129

16,048

14,112

9,260

-1,571

4,080

1,362

-1,009

7,448

2,270

2,159

7,832

418

-501

553

-4,497

1,774

4,269

7,449

4,905

5,483

5,006

2,139

3,501

3,914

3,258

2,421

3,196

1,520

1,424

1,507

2,783

0

0

0

Other long-term assets

21,349

30,476

25,392

21,812

10,319

4,571

5,348

1,377

5,297

-2,677

-3,458

-8,216

-10,762

-4,807

-4,508

126

33

426

205

603

1,380

1,667

1,725

1,598

-631

-1,086

-355

-471

385

1,972

2,228

2,805

4,229

2,653

1,883

677

0

0

0

Accounts payable

-8,292

7,922

10,755

16,452

16,779

3,905

4,273

4,413

-14,190

-3,396

-858

-6,482

-1,806

-10,342

-11,412

-7,326

2,522

1,345

-581

-212

45

1,217

2,485

-228

-181

2,193

2,347

1,604

4,707

676

770

1,579

-864

-1,296

-2,445

245

0

0

0

Accrued employee compensation and benefits

13,715

4,753

2,886

3,663

2,564

8,517

8,341

13,772

12,064

9,641

4,571

-2,207

-1,183

-2,937

-2,089

8,731

2,135

1,433

265

-4,385

-4,325

-1,462

-738

4,452

62

1,826

-1,136

-1,440

-4

1,291

1,661

4,088

2,565

784

165

3,496

0

0

0

Accrued expenses and other current liabilities

5,419

13,262

16,951

13,059

10,211

10,398

7,358

3,931

7,673

8,230

10,757

1,851

8,029

3,689

288

8,734

672

5,318

4,675

4,774

5,044

2,943

235

-2,717

-469

1,885

3,695

3,883

3,861

1,272

3,105

3,983

4,258

4,071

2,619

2,612

0

0

0

Operating lease liabilities

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income taxes payable

3,682

-1,761

328

4,120

19,958

19,402

21,743

12,683

1,564

-4,661

-3,944

-8,729

-12,444

-3,909

-5,237

4,303

2,336

1,287

2,786

1,553

618

1,030

3,450

3,886

2,118

2,650

825

550

10,384

10,263

9,844

9,965

4,296

3,516

2,893

1,774

0

0

0

Other long-term liabilities

-763

5,331

-514

4,662

6,865

16,399

17,024

14,978

11,755

-1,500

-3,097

-5,522

-5,465

-5,505

-2,915

227

815

904

927

1,227

727

460

203

-204

-419

-524

-301

-232

-37

447

224

-670

-844

-806

-647

-1,101

0

0

0

Net cash provided by operating activities

73,251

59,140

77,585

68,619

78,340

66,150

54,905

62,699

56,977

46,484

43,125

27,610

39,516

48,054

39,694

55,590

58,034

48,190

52,862

48,917

41,163

46,235

48,202

48,919

38,600

41,881

18,596

22,753

34,832

22,474

25,731

20,917

16,168

16,424

19,795

19,766

0

0

0

Proceeds from sale of property and equipment

1,290

1,233

866

1,033

612

532

417

261

312

312

2,415

2,631

2,613

2,586

334

90

0

0

0

-

-

-

-

80

71

57

12

117

117

120

120

114

0

0

0

-

-

-

-

Purchase of short-term investments

47,341

48,033

63,171

96,557

96,638

118,740

129,627

100,486

100,554

116,688

102,186

112,652

114,456

60,838

60,158

43,586

0

0

0

-

-

-

-

23,313

17,407

16,862

12,787

13,676

11,414

13,552

9,852

9,481

7,475

11,323

14,866

20,647

0

0

0

Proceeds from sale or maturity of short-term investments

69,024

87,181

100,037

109,512

126,784

154,936

157,484

157,194

149,842

117,412

120,479

131,116

146,974

165,525

139,082

115,397

90,990

54,304

50,352

38,696

21,795

18,706

13,300

10,802

9,766

11,254

13,680

12,717

13,821

13,307

14,908

36,825

35,979

39,474

43,412

30,441

0

0

0

Payments for asset acquisitions

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of long-term investments

-

-

-

-

-

-

-

16,772

22,887

24,259

37,593

35,099

36,387

34,558

32,458

29,618

30,024

36,888

31,560

33,720

88,988

80,270

71,872

70,151

9,956

10,352

12,215

11,303

9,119

10,357

7,446

5,900

13,511

15,833

25,134

30,815

0

0

0

Proceeds from sale or maturity of long-term investments

-

-

-

-

-

-

-

-

-

-

-

7,116

7,116

7,222

6,900

9,200

15,312

19,812

15,712

13,612

7,500

2,200

1,200

800

800

808

1,658

1,258

1,258

1,500

3,575

10,406

12,906

13,856

16,232

11,808

0

0

0

(Increase) decrease in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-92,704

-25,113

-4,780

-3,341

91,286

21,778

766

158

-2,639

1,289

2,657

2,373

2,320

244

-443

-2,840

-2,544

-2,459

-2,555

2,955

2,645

1,992

-1,211

-3,879

-3,704

0

0

0

Business acquisition, net of cash acquired

-

-

-

-

-

-

-

78,376

600

600

1,454

3,460

130,935

130,935

136,371

164,642

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of property and equipment

22,062

25,516

27,226

35,912

29,569

26,776

26,513

16,096

15,636

14,745

15,107

15,341

14,124

14,969

14,631

13,491

15,897

15,649

12,419

14,729

10,803

10,388

10,252

7,482

9,895

10,627

11,149

12,587

11,851

11,240

13,304

13,557

12,412

11,801

10,058

9,718

0

0

0

Net cash used in investing activities

-77,588

-62,636

-46,529

-74,708

-78,664

-70,909

-82,586

-52,827

12,136

-37,616

-26,193

67,015

-114,086

-61,187

-93,961

-217,936

-35,182

-59,698

-28,284

-10,077

-107,296

-110,543

-113,300

-113,044

-33,021

-25,279

-20,736

-23,705

-17,504

-20,442

-40,009

-9,293

-11,431

-12,479

10,457

-18,345

0

0

0

Cash flows from financing activities:
Payment of debt

12,266

12,500

12,500

12,500

9,375

6,250

875

81,000

83,500

86,000

88,500

10,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Series A Convertible Preferred Stock proceeds, net of issuance costs of $1,154

-

-

-

-

-

-

-

106,846

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repurchase of common stock

-

-

-

-

-

-

-

30,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,408

0

0

0

-

-

-

-

-

-

-

-

Payments of withholding taxes related to net share settlements of restricted stock

8,049

8,150

11,655

12,094

12,248

12,344

8,207

7,173

5,048

5,049

5,238

6,098

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of redeemable noncontrolling interest related to Polaris

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of noncontrolling interest

-

-

-

-

-

-

-

-

-

-

-

89,147

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments on capital lease obligation

60

78

85

89

124

139

211

220

183

191

128

140

163

154

146

132

116

149

146

120

97

31

16

18

17

17

13

1,026

1,021

1,018

1,018

932

932

932

1,521

1,116

0

0

0

Payment of contingent consideration related to acquisitions

-

-

-

-

-

-

-

-

-

-

-

830

0

0

0

-

-

-

-

2,087

0

0

0

-

-

-

-

-

-

-

-

1,620

0

0

0

-

-

-

-

Payment of dividend on Series A Convertible Preferred Stock

4,184

4,184

4,184

4,184

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax (expense) benefits from stock option exercises

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,610

3,982

4,904

4,692

4,192

4,252

2,876

3,198

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in financing activities

12,781

14,878

9,399

14,749

-703

30,544

34,688

37,442

16,493

-3,777

-3,470

-96,384

91,094

87,405

91,546

187,667

2,788

4,025

5,825

5,225

72,419

92,315

90,127

91,740

27,505

5,756

5,859

494

-75

76

-311

832

2,407

3,548

3,249

4,291

0

0

0

Effect of exchange rate changes on cash, cash equivalents and restricted cash

-383

-6,100

-5,358

-13,782

-14,978

-10,772

-6,155

2,675

7,356

-934

341

-2,319

-2,388

2,367

-788

-1,137

-4,176

-4,226

-3,481

-2,024

-1,414

1,021

929

-2,053

-2,301

-4,015

-930

-448

-3,565

-4,213

-7,163

-4,569

-1,736

-757

862

655

0

0

0

Net increase in cash and cash equivalents and restricted cash

8,061

5,282

35,097

-5,122

-16,005

15,013

852

49,989

92,962

4,157

13,803

-4,078

14,136

76,639

36,491

24,184

21,464

-11,709

26,922

42,041

4,872

29,028

25,958

25,562

30,783

18,343

2,789

-906

13,688

-2,105

-21,752

7,887

5,408

6,736

34,363

6,367

0

0

0

Parent
Proceeds from exercise of common stock options

1,018

785

919

1,019

1,140

0

2,728

4,063

4,014

3,444

2,632

1,479

0

0

1,447

-

1,292

1,838

2,713

2,740

2,780

2,550

1,723

2,575

3,789

3,231

3,330

2,169

932

1,080

693

1,962

4,201

5,342

5,632

4,649

0

0

0

Subsidiaries
Proceeds from exercise of common stock options

111

316

405

549

1,732

0

1,891

1,837

1,445

1,022

1,051

1,166

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-