Wright medical group n.v. (WMGI)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jul'18Apr'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Jan'12Sep'11Jun'11Mar'11
Operating activities:
Net loss

-14,906

-16,023

-43,789

-17,812

-36,601

-33,768

-42,525

-67,698

-25,514

29,133

-131,870

-41,162

-58,699

-44,870

-110,145

-229,366

-47,992

-105,777

-98,861

-44,315

-49,748

-8,465

-5,321

-10,448

-5,237

-10,699

-6,292

-12,537

-6,898

-4,803

-11,681

-5,084

-176

-1,981

-1,637

-2,869

-23,969

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

10,029

10,332

10,439

9,823

9,763

9,022

8,950

8,831

8,834

7,051

7,360

6,987

7,069

7,147

6,798

7,093

Non-cash foreign currency loss

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-911

-137

-210

171

-750

-293

-705

-81

278

594

-620

243

89

216

30

-633

Depreciation

16,038

-

-

-

15,501

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation

-

-

-

-

-

-

14,604

13,883

14,499

-

15,000

13,678

13,446

14,716

14,749

14,095

13,222

12,515

6,268

5,418

5,280

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Share-based compensation expense

7,330

9,088

8,235

7,623

7,621

7,784

7,257

6,061

5,018

5,262

5,445

4,732

3,954

4,515

3,528

3,056

3,317

17,258

2,025

3,344

2,337

2,832

2,348

2,741

1,780

3,547

1,684

1,436

1,633

1,722

1,712

1,452

1,944

1,806

1,831

1,615

1,295

Amortization of intangible assets

8,124

8,164

8,308

7,862

7,587

7,699

5,881

6,009

7,141

6,822

7,178

6,999

7,397

7,434

7,464

7,655

6,627

9,181

2,562

2,565

2,614

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of deferred financing costs and debt discount

13,690

13,884

13,629

13,401

13,547

13,989

13,655

13,684

13,302

13,006

12,730

12,459

12,184

11,811

11,550

9,182

7,944

7,425

7,619

11,259

1,297

210

211

141

213

213

190

277

289

-

-

-

-

0

0

0

2,040

Deferred income taxes

-254

-607

-619

-619

-619

-1,567

-1,445

-751

-780

-11,732

-1,334

-725

0

30,117

-6,335

-3,184

-15

3,085

0

0

2

-2,639

-2,819

-1,264

-1,171

1,637

-399

1,116

1,212

-4,359

305

247

-699

-2,626

-2,828

1,904

-8,069

Inventory Write-down

1,573

2,982

4,128

2,510

3,506

3,555

6,333

6,005

5,020

5,401

6,151

3,969

3,650

5,875

5,693

6,464

4,014

3,292

6,763

2,369

1,794

3,044

2,711

2,492

3,186

2,065

2,203

1,819

2,360

5,258

857

566

1,490

1,182

1,348

870

1,596

Inventory Step Up Amortization Expense

0

-

-

-

352

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

InventoryStepUpAmortizationExpense

0

0

353

352

352

352

0

0

0

-

-

-

-

7,157

11,451

11,535

11,360

11,287

20

21

28

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash adjustment to derivative fair values

-15,697

-10,077

927

-816

-996

1,591

-230

32,879

1,694

-634

-199

-4,329

365

-1,813

-3,187

-16,632

-6,641

1,977

-4,652

-435

-6,935

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net loss on exchange of cash convertible notes

0

0

0

0

14,274

0

0

39,935

0

-

-

-

-

-

-

-

-

355

0

0

24,746

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Mark-to-market adjustment for CVRs

0

0

-20

20

-420

3,224

3,316

-2,476

-3,924

-1,401

4,485

-3,924

6,160

-280

2,241

1,403

5,324

-281

14,573

-8,409

-13,454

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on extinguishment of debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-29,475

Acquired inventory step up

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

157

158

262

463

1,769

1,921

1,755

-

-

-

-

-

-

-

-

Other

488

-11,184

-265

3,642

485

2,234

175

-577

-215

708

-623

-819

-651

-931

-1,442

-394

-1,658

-15

-2,463

-1,373

-929

-596

14

-244

-82

-476

687

-88

-1,218

-395

-190

-695

-556

-161

683

-231

-105

Changes in assets and liabilities (net of acquisitions):
Accounts receivable

-21,001

9,606

-928

737

-2,426

14,252

-2,160

-3,304

-565

16,324

-3,569

-2,654

-12,584

11,018

-2,447

-2,581

-4,872

15,956

1,808

-1,537

-3,149

10,085

-2,204

-1,285

4,504

6,484

-4,055

-2,956

1,611

6,721

-4,817

5,058

-4,774

5,207

-4,191

-2,235

5,892

Inventories

21,568

2,484

8,461

10,053

11,868

3,149

15,207

7,128

10,403

1,316

11,647

9,282

7,281

-3,475

693

2,837

132

-9,084

7,468

11,323

14,988

33

6,260

7,894

7,432

3,344

3,782

912

1,148

-417

1,493

1,608

373

18,954

-17,695

4,645

2,035

Prepaid expenses and other current assets

-4,133

-12,831

-4,871

10,310

286

-10,865

-5,180

-7,633

-22,034

28,595

3,120

-4,392

-4,579

-2,375

-18,515

-4,655

3,104

7,599

4,784

5,525

-7,437

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable

12,116

-3,807

-7,854

392

-4,597

2,291

2,910

-154

975

-2,000

139

5,485

2,636

8,154

-3,655

-2,518

-486

-4,785

-4,743

258

6,351

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued expenses and other liabilities

9,770

-12,288

-12,700

-6,226

3,392

-9,066

-6,395

9,822

20,478

491

-1,587

-3,567

26,497

-1,431

4,116

-4,190

-9,746

11,067

-7,833

16,109

3,915

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Metal-on-metal product liabilities

-1,991

-20,950

945

-1,027

-12,971

-31,093

-15,540

-28,251

-28,172

-66,633

-27,227

4,328

10,393

-

38,732

150,000

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) operating activities

19,331

23,328

16,178

9,522

-7,421

-51,180

-7,384

13,643

-18,808

-55,502

-118,490

3,660

-14,478

63,177

-2,087

-13,488

-9,778

-54,031

-90,839

-25,754

-25,246

5,525

-4,622

-3,262

3,367

6,661

580

1,323

16,418

3,295

-2,180

4,477

8,839

12,205

-1,504

5,513

6,952

Investing activities:
Additions of instruments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-18,666

18,729

0

20

849

1,635

391

60

0

3,253

-2,193

350

-

-

-

-

Additions of instruments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7,735

6,800

7,240

4,115

7,571

4,879

2,754

17,016

-11,693

3,922

4,692

6,586

5,582

2,874

Capital expenditures

24,501

35,437

15,842

22,559

25,448

21,547

20,188

17,846

11,886

13,998

18,121

19,206

12,149

12,299

13,039

15,682

9,079

9,653

8,259

13,900

11,854

2,366

3,248

3,116

1,764

3,307

2,740

1,949

2,829

3,025

10,570

-4,860

1,156

2,827

2,296

762

714

Purchase of intangible assets

2,126

1,561

3,273

1,764

1,850

195

1,683

52

553

691

464

69

875

84

538

2,759

1,464

0

0

3

79

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable and accruals

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

8,276

-3,954

557

7,610

7,110

-5,235

-3,251

8,797

3,516

-3,847

-4,267

4,685

6,022

-5,460

337

1,674

Other current assets and liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

477

-634

3,069

278

-2,301

-4,464

859

1,202

209

142

295

880

-431

-261

199

-3,494

Other non-current assets and liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,533

-193

-1,292

796

-36

2,298

973

-1,101

-1,259

763

7

424

-1,083

55

734

488

Acquisition of business

0

0

0

0

-722

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-5,602

5,622

1,980

2,993

0

2,700

2,972

-

-

-

-

-

-

-

481

Other investing

0

0

0

-4,266

500

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Sales and maturities of available-for-sale marketable securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

2,566

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-26,627

-36,998

-19,115

-20,057

-27,076

-457,531

-21,871

-18,398

-12,439

-58,537

-18,585

-19,275

-13,024

8,320

-13,577

-18,441

-10,543

20,464

-13,164

-13,903

-9,367

-5,431

-1,860

-16,473

-10,564

-14,389

-8,490

-12,611

-10,740

-105,008

-5,223

-10,136

-5,428

-8,608

-9,300

-7,498

-4,069

Financing activities:
Issuance of ordinary shares

4,234

36,455

1,607

3,013

11,001

10,643

5,262

3,074

2,639

2,723

5,158

5,022

14,648

2,806

4,880

10

764

429

1,213

1,798

73

1,132

777

1,845

222

1,498

10,597

6,847

2,539

602

982

3,056

3,070

-

-

-

-

Repayment of notes payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-116,108

Proceeds from long-term debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

115,873

136

-307

5,343

-

-

-

-

Deferred financing costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

58

1

52

-

-

-

-

-

-

-

-

Payment of equity offering costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

102

215

2,414

Issuance of stock warrants

0

0

0

0

21,210

0

0

102,137

0

0

0

0

0

-

-

-

-

672

0

0

86,400

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of notes premium

-146

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-49,152

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of notes hedge options

0

0

0

0

30,144

0

0

141,278

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments of long term borrowings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

144,843

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repurchase of stock warrants

0

0

0

0

11,026

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

59,803

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of equity issuance costs

0

0

0

0

350

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from notes hedge options

351

0

0

0

16,849

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

69,764

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from other debt

0

-193

1,153

577

2,974

1,809

0

21,392

2,042

-

-

-

-

-

0

0

821

-

0

-632,500

632,500

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in short-term debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-17,359

6,298

61

2,991

-2,328

8,579

-3,832

-12,932

Payments of debt

58,383

1,229

835

1,361

1,270

4,570

11,795

21,006

1,266

795

1,348

-3,418

12,792

-

-

-

-

-

-

-

-

-

-

189

374

407

359

50,950

2,379

20,451

12,184

-5,993

2,042

1,689

2,443

1,945

2,070

Payment of financing costs

0

3

-176

565

2,589

609

13,173

919

0

-

-

-

-

-

-

-

-

0

0

0

20,081

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repurchase of stock warrants

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

240,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of contingent consideration

-

-

-

-

-

0

0

0

-919

0

-442

0

-987

-371

-664

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments of finance lease obligations

1,874

1,963

1,970

2,111

1,793

1,603

1,346

1,171

1,388

827

798

583

482

692

707

782

333

91

132

212

186

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of ordinary shares

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1

155

0

129

82

0

78,767

103

-

-

-5

50

3,320

-51

51

168,257

Excess tax benefit from stock-based compensation arrangements

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

136

-136

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash (used in) provided by financing activities

-55,818

32,860

131

-447

4,862

5,340

411,017

180,675

1,108

4,002

34,570

7,857

387

28,953

3,509

236,839

1,116

-80,357

-69,039

1,586

274,672

611

-21

2,133

-23

1,486

10,180

33,663

211

73,269

3,089

896

9,412

-3,374

10,183

-2,432

34,733

Effect of exchange rates on cash and cash equivalents

-905

403

-505

40

-200

-181

-73

-757

450

-12

1,399

671

832

-2,499

218

-63

805

-707

-388

687

-2,136

1,305

662

-40

-151

474

1,567

495

-1,152

1,053

1,389

-2,880

1,538

-1,365

-3,264

36

1,660

Net decrease in cash and cash equivalents

-64,019

19,593

-3,311

-10,942

-29,835

-503,552

381,689

175,163

-29,689

-110,049

-101,106

-7,087

-26,283

97,951

-11,937

204,847

-18,400

-114,631

-173,430

-37,384

237,923

2,010

-5,841

-17,642

-7,371

-5,768

3,837

22,870

4,737

-27,391

-2,925

-7,643

14,361

-1,142

-3,885

-4,381

39,276

Supplemental disclosure:
Fixed assets acquired pursuant to capital lease

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-6

0

126

520