WATERS CORP /DE/ WAT Cash Flow

Waters corp /de/ (WAT)

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	Dec'10	Sep'10	Jun'10	Mar'10	Dec'09	Sep'09	Jun'09	Mar'09
Cash flows from operating activities:
Net income
53,562	200,669	138,133	144,410	108,986	185,152	141,014	155,677	111,951	-353,172	136,104	131,822	105,557	174,378	124,856	128,217	94,052	151,054	116,281	105,657	96,061	151,292	113,497	96,529	70,302	141,582	98,048	89,314	121,059	175,944	99,109	97,724	88,666	137,147	101,257	100,075	94,489	126,604	94,719	84,922	75,518	104,123	75,936	69,907	73,347
Adjustments to reconcile net income to net cash provided by operating activities:
Provisions for doubtful accounts on accounts receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-14	540	452	1,059	2,010	556	627	463	418	936	366	536	998	591	654	1,022	1,512	296	214	904	2,280	57	412	375
Provisions on inventory
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	803	1,661	1,139	-	1,049	957	1,340	-	2,374	2,511	3,449	-	2,585	1,668	3,224	3,588	2,200	2,461	2,648	4,375	2,017	1,783	1,777
Stock-based compensation
9,196	9,660	9,662	9,314	9,941	9,357	9,213	9,079	9,892	9,368	12,274	9,139	8,655	8,394	8,367	8,396	15,841	8,411	8,347	8,155	8,455	8,538	8,107	8,224	8,129	7,723	8,678	7,876	7,431	7,496	7,306	7,114	7,267	6,934	6,882	6,748	7,015	6,294	6,244	6,283	6,031	6,498	7,251	7,158	7,348
Deferred income taxes
-2,525	7,803	185	190	1,442	2,127	3,270	-4,063	1,071	42,464	-2,162	-960	6,168	-3,720	4,287	-3,103	3,740	4,760	1,279	-2,286	2,828	10,734	-1,239	-5,694	-2,218	11,350	-7,009	-3,181	-991	-42,837	-2,235	-2,317	-4,830	1,248	-3,380	-2,213	-1,479	-10,368	-655	-2,064	-1,950	34,580	-3,311	6,984	-1,977
Depreciation
15,708	11,671	13,464	16,698	12,006	13,242	14,125	14,502	16,083	15,996	14,658	18,013	12,783	12,830	12,799	13,699	12,356	12,085	10,436	11,321	11,445	11,732	17,337	8,505	8,819	10,358	9,716	9,604	8,487	10,321	9,933	9,405	7,763	9,264	9,328	9,299	8,640	8,524	8,779	8,677	8,441	8,023	7,486	7,933	8,363
Amortization of intangibles
13,480	13,306	13,240	12,153	12,758	12,355	12,850	12,694	12,557	11,757	11,186	11,442	10,167	11,255	11,488	10,947	11,075	11,007	11,321	11,268	11,104	11,949	12,089	12,277	11,523	11,082	10,855	9,818	9,775	7,285	10,689	6,629	6,806	7,078	7,272	7,986	7,520	8,516	6,453	6,624	6,544	6,677	6,179	6,563	6,048
In-process research and development
-	-	-	-	-	-	-	-	-	-	0	0	5,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefit related to stock option plans
-	-	-	-	-	-	-	-	-	-	-	-	-	-26,758	9,397	1,898	1,619	-18,644	0	2,932	2,757	7,098	-266	364	8,507	6,978	2,230	3,471	3,163	6,507	-1,771	329	5,503	16,923	70	9,414	5,832	5,660	1,287	1,680	2,182	5,083	0	0	0
Change in operating assets and liabilities:
Decrease in accounts receivable
-54,026	80,092	-5,389	6,823	-59,331	84,814	-302	3,997	-40,588	77,371	-11,413	-6,835	-35,110	71,192	-7,153	5,936	-38,254	56,775	8,955	9,119	-24,961	53,023	5,282	1,277	-30,147	57,818	3,381	-9,467	-16,499	45,342	423	10,083	-16,012	22,568	-2,849	10,539	-17,730	22,573	7,861	6,622	6,230	28,975	-13,915	-3,697	5,542
Increase in inventories
29,399	-52,119	21,773	17,762	44,438	-22,430	13,949	5,776	28,101	-26,948	7,048	8,696	10,473	-19,841	14,985	4,515	20,488	-15,521	7,810	7,677	20,001	-20,828	5,254	7,395	24,163	-19,393	9,960	7,982	12,840	-25,628	7,231	11,270	18,057	-37,528	10,184	18,698	17,353	1,265	10,602	9,035	16,134	-11,796	35	36,376	-17,792
Increase in other current assets
5,036	4,659	-5,368	8,080	3,547	-8,645	5,827	2,215	13,049	3,379	3,691	5,196	4,057	-470	5,718	-1,775	-1,037	19,389	-11,779	7,820	1,776	-3,564	2,510	-1,170	8,008	-11,204	3,442	2,223	506	4,177	2,460	-834	1,333	223	-469	-1,785	-2,278	-3,727	-1,863	-1,491	4,679	-2,273	-1,269	-3,832	1,449
Decrease in other assets
-2,745	7,168	-5,758	19,697	-4,637	-9,298	394	-1,552	4,409	21,728	1,216	114	1,040	-3,591	1,150	96	3,421	-1,980	2,217	4,506	4,891	3,460	404	3,376	7,169	1,829	1,185	2,272	6,181	-2,284	1,673	911	-1,773	8,048	2,426	-158	1,755	-3,728	-6,544	3,578	4,222	-895	1,762	-388	210
Decrease in accounts payable and other current liabilities
-15,825	10,277	9,946	23,046	-33,485	11,974	-15,789	-43,590	-34,258	26,241	11,736	15,270	-50,072	36,021	11,921	2,532	-43,632	23,217	26,521	3,231	-25,518	-17,574	9,614	5,764	-11,491	-3,441	19,421	1,233	-45,340	19,534	-235	2,570	-21,306	92	20,715	-5,816	-26,836	15,706	3,954	18,637	13,720	-11,736	25,735	-451	-24,378
Increase in deferred revenue and customer advances
46,465	-22,737	-19,746	-2,867	57,539	-20,364	-17,049	-4,962	45,096	-18,946	-24,269	2,985	50,616	-19,270	-17,557	1,215	45,586	-14,927	-12,253	797	42,555	-14,171	-13,098	2,479	34,356	-5,754	-10,648	-1,911	26,825	-5,212	-8,850	311	24,756	-18,340	-10,380	7,494	23,856	-13,902	-3,706	3,309	23,732	-11,632	-7,975	-3,839	26,059
Effect of the 2017 Tax Cuts & Jobs Act
-	0	0	0	-3,229	-18,509	0	0	12,450	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Increase (decrease) in other liabilities
9,238	1,046	-11,237	-23,558	-6,162	30,656	18,574	-28,185	5,970	3,623	-4,789	-3,489	5,795	375	-763	3,888	5,486	12,069	-14,259	3,938	9,367	17,824	-6,361	-17,080	3,330	777	-7,933	-2,305	1,777	-11,355	-5,887	2,193	-304	6,429	1,755	-1,383	4,410	3,996	714	353	-1,168	-9,318	-2,192	3,973	-5,683
Net cash provided by operating activities
151,635	191,895	148,389	127,024	175,779	181,549	146,340	100,716	175,841	192,184	154,196	177,051	174,209	173,903	148,595	158,917	161,505	166,606	139,093	112,959	154,590	161,722	127,839	106,332	115,755	143,291	104,765	109,022	127,798	131,653	101,353	105,076	111,198	150,062	127,333	97,218	122,761	134,087	108,942	111,672	103,155	119,859	124,570	93,146	80,688
Cash flows from investing activities:
Additions to property, plant, equipment and software capitalization
51,130	53,618	45,017	39,522	25,666	31,864	27,384	20,839	15,992	30,216	19,899	17,647	17,711	22,671	22,600	25,044	24,652	27,762	26,957	23,883	21,410	20,685	26,286	22,756	21,395	25,634	31,540	30,639	30,637	31,701	26,128	31,386	15,534	34,092	16,072	18,433	16,839	15,463	26,048	11,064	10,165	13,397	22,645	79,910	-22,156
Business acquisitions, net of cash acquired
76,664	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,336	20,057	0	3,615	-	-	-	0	0	12,602	0	18,414	-	-	-	-	-	-	-	-	0	0	72,172	-36,086
Investment in unaffiliated company
-	-	-	-	-	0	4,400	0	3,215	0	0	0	7,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of investments
3,520	1,428	0	8,791	26,732	97,933	394,805	343,301	170,041	615,120	790,490	731,434	823,335	472,978	718,019	519,467	685,568	543,290	138,786	533,870	794,422	465,110	552,312	571,703	607,028	701,290	706,867	796,418	767,541	431,271	443,105	450,290	491,322	451,664	467,899	397,409	432,189	309,944	443,030	264,949	216,748	201,048	170,106	190,355	-43,119
Maturities and sales of investments
1,139	0	87,895	404,087	486,437	555,381	509,411	674,683	1,085,087	513,572	700,253	557,278	750,997	446,360	571,270	474,663	512,397	482,908	130,588	359,099	759,386	421,288	451,792	540,647	512,089	606,522	633,438	719,547	707,725	465,429	373,665	353,949	462,316	324,594	474,371	362,835	327,921	246,329	312,313	216,528	110,726	99,633	129,611	0	0
Net cash provided by (used in) investing activities
-130,175	-56,639	40,378	351,024	434,039	425,584	51,336	310,543	895,839	-131,764	-110,136	-196,803	-97,049	-49,244	-171,003	-69,848	-197,823	-105,230	-30,001	-208,062	-56,446	-79,606	-148,663	-53,812	-119,949	-135,363	-131,403	-107,510	-90,453	2,457	-108,170	-127,727	-62,954	-161,262	-20,600	-53,007	-121,107	-79,078	-156,765	-59,485	-116,187	-114,812	-63,140	-139,715	-101,361
Cash flows from financing activities:
Proceeds from debt issuances
315,000	325,308	599,999	197	166	264	-216	145	81	1,350,000	45,190	45,000	40,000	45,121	40,000	290,000	110,177	40,146	90,000	75,000	120,073	45,243	260,006	66,371	10,053	30,186	40,852	895,539	65,632	30,250	50,137	87,843	50,094	40,329	261,068	55,005	242,126	525	46,578	55,265	213,273	15,285	25,399	48,861	94,764
Payments on debt
100,366	0	390,237	165	80	435	0	100,000	750,000	1,310,150	0	52	12	0	15,084	250,239	60,000	0	20,121	19	100,000	10,006	223,403	5,072	1,295	601	15,000	860,862	10,181	172	3,788	10,105	18,042	21,075	125,666	9,175	217,835	26,713	11,193	10,789	132,663	28,163	11,505	99,612	-46,724
Payments of debt issuance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	3,305	49	1,169	0	0	25	1,473	0	0	0	0
Proceeds from stock plans
11,743	19,404	4,182	2,498	27,631	10,052	7,532	10,558	24,287	24,968	14,639	19,923	38,259	3,617	35,300	15,081	8,191	23,112	4,171	13,508	11,269	30,562	2,616	5,349	35,322	33,488	16,300	11,692	7,478	7,585	2,599	4,131	14,554	14,466	2,713	28,891	14,083	73,734	7,667	10,331	8,852	10,940	4,204	3,011	944
Purchases of treasury shares
196,226	559,558	580,065	576,530	753,105	498,457	263,505	270,774	282,370	86,802	79,908	76,661	89,173	83,835	69,532	76,903	95,489	79,594	84,153	79,933	91,025	75,874	76,398	92,600	92,572	75,382	55,119	69,712	101,367	60,596	63,963	103,240	68,079	72,850	144,165	80,641	73,179	51,399	65,070	74,804	105,019	54,165	48,327	172,731	-63,846
Proceeds from derivative contracts
-2,767	-3,709	-2,246	-2,400	-2,254	4,503	23	4,095	-1,937	-593	-2,871	-1,868	1,438	876	1,994	5,636	1,895	2,606	-810	-2,543	3,348	-540	266	-214	314	-2,800	-1,837	-3,335	-694	-3,287	-424	3,500	-3,975	262	3,941	922	-2,892	3,170	-1,999	3,336	3,631	-667	3,823	-9,147	829
Net cash used in financing activities
32,918	-211,137	-366,807	-571,600	-723,134	-493,079	-256,212	-364,166	-1,006,065	-24,375	-17,208	-9,922	-12,364	-35,973	-11,310	-29,402	-39,016	-24,631	-9,366	11,722	-60,274	-2,437	-39,111	-25,374	-40,299	-2,531	-8,981	-18,495	-34,581	-13,139	-16,859	-24,542	-11,995	-22,469	-13,226	2,523	-27,250	-1,363	-18,732	-21,678	-18,479	-50,353	-34,052	8,158	-14,033
Effect of exchange rate changes on cash and cash equivalents
-32	6,947	-5,309	-3,420	2,006	-7,147	5,705	-21,411	8,588	2,467	9,700	12,485	14,017	-13,264	545	-12,672	4,056	-8,598	-6,083	8,458	-19,249	-14,470	-11,788	6,163	-921	4,398	11,575	-20	-11,751	3,771	10,540	-10,564	6,947	-6,267	-14,495	1,320	13,958	-7,940	18,463	-16,637	-12,588	-4,000	4,594	8,703	-5,663
Increase (decrease) in cash and cash equivalents
54,346	-68,934	-183,349	-96,972	-111,310	106,907	-52,831	25,682	74,203	38,512	36,552	-17,189	78,813	75,422	-33,173	46,995	-71,278	28,147	93,643	-74,923	18,621	65,209	-71,723	33,309	-45,414	9,795	-24,044	-17,003	-8,987	124,742	-13,136	-57,757	43,196	-39,936	79,012	48,054	-11,638	45,706	-48,092	13,872	-44,099	-49,306	31,972	-29,708	-40,369