ZIMMER BIOMET HOLDINGS, INC. ZBH Cash Flow

Zimmer biomet holdings, inc. (ZBH)
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	Dec'09	Sep'09	Jun'09	Mar'09
Cash flows provided by (used in) operating activities:
Net (loss) earnings
376,200	1,131,500	-92,400	-362,300	-309,300	-379,300	1,754,400	1,691,100	1,690,300	1,813,400	651,900	711,000	495,200	304,600	361,600	225,900	83,800	146,200	173,200	319,300	669,200	719,200	820,300	806,100	781,700	778,600	676,100	699,700	762,000	752,900	756,700	770,200	760,000	760,000	638,800	638,700	600,400	596,900	717,200	676,000	720,600	717,400	0	0	0
Adjustments to reconcile net (loss) earnings to cash provided by operating activities:
Depreciation and amortization
1,011,400	1,006,100	1,007,000	1,016,100	1,024,700	1,040,500	1,050,200	1,056,100	1,058,600	1,062,700	1,050,200	1,071,800	1,060,000	1,039,300	1,071,600	1,023,000	870,300	712,400	520,700	372,100	363,800	375,800	373,300	374,300	374,400	358,500	358,600	349,400	351,400	363,100	367,200	375,400	370,600	359,900	356,300	349,100	341,400	340,200	337,300	341,800	342,700	337,400	0	0	0
Share-based compensation
80,500	84,300	81,800	79,500	71,900	65,500	58,900	52,000	53,600	53,700	51,500	54,300	58,600	57,300	57,600	55,900	46,200	46,400	47,100	46,400	51,100	49,400	48,400	46,500	45,700	48,500	50,400	53,400	56,200	55,000	56,100	56,600	59,000	60,500	62,700	63,100	63,600	62,000	63,000	65,800	70,900	75,300	0	0	0
Goodwill impairment
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income tax benefit from stock option exercises
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	100,200	31,400	31,800	38,400	0	0	0	-	-	-15,100	-12,900	-12,900	11,400	10,800	8,700	4,200	6,200	6,200	5,100	3,500	0	0	0
Excess income tax benefit from stock option exercises
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	11,800	11,700	11,600	13,500	11,100	11,000	12,100	10,500	8,600	7,700	6,400	5,000	2,700	3,300	2,800	3,800	5,000	4,200	3,900	3,000	1,300	0	0	0	-	-	-	-
Inventory step-up
-	-	-	-	-	-	-	-	-	32,800	54,600	67,800	184,200	323,300	481,600	593,700	471,100	317,800	137,500	11,700	3,300	5,400	7,900	9,800	9,700	8,000	7,400	5,200	4,600	4,800	4,300	5,600	8,000	11,400	9,700	7,900	4,500	1,400	3,900	6,800	9,600	12,500	0	0	0
Changes in operating assets and liabilities, net of acquired assets and liabilities
Income taxes
41,500	111,400	-448,800	-152,600	-134,900	-150,800	337,300	318,200	245,700	150,200	-130,900	-234,900	-64,100	-10,900	89,400	162,400	223,600	244,700	156,900	197,100	49,800	-13,200	14,400	37,800	11,200	104,400	-20,700	800	29,000	59,200	37,500	36,700	44,300	14,600	83,800	66,700	23,500	7,700	-57,400	-68,300	-35,600	7,000	0	0	0
Receivables
-145,200	93,800	-85,700	-65,200	-118,100	-213,600	-52,400	-113,100	-280,900	-161,700	-285,400	-205,500	31,200	141,600	165,800	117,600	146,100	56,100	-31,300	85,000	39,100	40,400	83,600	-1,000	24,800	74,300	44,300	48,600	35,500	45,500	57,700	74,100	46,900	63,200	59,600	57,700	71,000	33,000	28,600	26,100	43,400	4,600	0	0	0
Inventories
170,500	125,200	140,300	183,200	210,600	199,500	161,400	149,700	146,400	120,100	90,200	52,000	-26,300	-77,900	-35,300	4,400	109,200	205,400	228,400	220,200	165,900	164,600	165,700	147,100	145,000	148,100	129,300	124,000	121,200	67,500	18,400	700	-15,000	-7,200	8,800	23,500	5,200	-25,800	-65,400	-115,500	-21,200	-36,200	0	0	0
Accounts payable and accrued liabilities
93,600	-42,000	-30,400	-86,800	-47,800	155,900	60,900	40,800	-23,800	-133,300	-62,000	-26,700	11,700	32,600	-34,200	-496,300	-216,900	-252,000	-174,800	220,200	20,700	116,100	34,400	23,100	8,900	33,600	40,100	72,300	46,400	47,800	65,300	46,500	13,100	20,000	-33,000	-5,600	13,300	-800	-8,100	-50,600	-58,200	-132,600	0	0	0
Other assets and liabilities
-31,800	17,900	-20,000	-9,100	-35,300	-8,400	-117,700	-98,000	-64,800	-5,700	-33,400	31,100	37,100	-18,500	152,600	16,300	100,700	21,800	12,300	-8,100	-118,100	-114,400	-44,600	22,800	-1,300	49,700	-39,000	-24,700	12,500	57,400	23,300	21,800	10,400	-18,300	63,800	82,600	-8,500	-58,900	-87,200	-151,000	-35,400	-44,600	0	0	0
Net cash provided by operating activities
1,753,100	1,585,800	1,542,000	1,448,200	1,540,500	1,747,400	1,770,800	1,750,200	1,797,400	1,582,300	1,806,600	1,695,700	1,634,800	1,632,200	1,467,500	1,213,500	1,031,100	849,800	749,200	906,300	963,200	1,060,500	998,800	1,035,800	971,400	963,100	1,030,900	1,083,200	1,125,000	1,151,900	1,177,000	1,182,600	1,202,100	1,176,900	1,124,800	1,094,500	1,116,200	1,193,500	1,238,000	1,270,000	1,192,400	1,117,500	0	0	0
Cash flows provided by (used in) investing activities:
Additions to instruments
337,900	315,900	312,100	295,000	279,600	276,300	285,000	290,500	311,000	337,000	349,900	360,800	346,800	345,500	331,700	319,700	289,100	266,400	220,500	189,400	210,400	197,400	189,700	188,600	184,800	192,900	210,300	196,900	177,600	148,900	131,200	138,500	137,900	155,400	188,300	194,600	278,100	192,500	359,500	282,700	129,700	123,700	0	0	0
Additions to other property, plant and equipment
209,500	207,100	202,800	205,700	173,800	162,700	161,400	135,900	139,600	156,000	164,400	184,800	200,200	184,700	179,200	176,600	160,900	167,700	167,800	146,300	147,900	144,900	118,500	123,100	113,500	100,000	120,500	110,700	113,100	114,700	117,400	124,100	116,200	113,800	106,400	86,500	84,700	79,200	68,900	77,100	85,800	105,100	0	0	0
Purchases of investments
-	-	-	-	-	-	-	-	-	-	-	-	-	1,500	37,200	63,400	62,500	214,800	379,800	720,200	902,800	1,350,900	1,302,500	1,150,000	1,238,600	732,700	908,700	958,600	969,300	1,130,100	1,060,000	1,012,900	852,400	662,100	716,500	596,000	474,600	413,300	0	0	0	-	-	-	-
Sales of investments
-	-	-	-	-	-	-	-	-	-	-	-	-	286,200	497,400	677,300	706,100	802,900	941,600	989,700	1,019,400	1,282,200	1,119,000	1,046,800	1,181,900	830,800	842,600	931,200	935,900	878,500	836,900	647,700	494,400	394,800	236,000	200,300	122,500	67,500	0	0	0	-	-	-	-
Net investment hedge settlements
53,900	48,100	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition of intellectual property rights
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	35,800	0	0	0
Investments in other assets
16,800	19,700	52,600	25,900	31,400	31,500	16,000	17,600	24,800	13,800	23,900	-12,700	-8,100	3,000	-5,700	39,700	33,400	21,700	0	0	0	-	-	-	-	13,500	41,000	37,600	-8,200	17,900	52,300	59,400	52,800	31,100	36,300	29,600	28,600	18,300	-7,200	8,000	13,000	10,700	0	0	0
Net cash used in investing activities
-745,000	-729,300	-673,700	-649,000	-420,400	-416,600	-462,400	-444,000	-479,400	-510,800	-529,400	-1,783,200	-1,920,400	-1,691,500	-1,476,000	-7,600	-7,530,000	-7,557,900	-7,597,900	-7,921,400	-303,100	-469,400	-508,300	-429,600	-433,900	-282,500	-496,900	-431,600	-374,900	-592,100	-580,800	-744,000	-721,700	-624,400	-902,600	-797,500	-756,000	-726,900	-368,700	-298,800	-334,600	-381,200	0	0	0
Cash flows provided by (used in) financing activities:
Proceeds from senior notes
0	-	-	-	-	749,500	0	0	0	-	-	-	-	-	-	-	-	7,628,200	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from multicurrency revolving facility
-	-	-	-	-	400,000	400,000	400,000	400,000	400,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from term loans
-	200,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments on term loans
-	960,000	1,675,000	1,625,000	1,510,000	1,425,000	800,000	1,015,000	1,015,000	940,000	740,000	450,000	550,000	800,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net proceeds (payments) under revolving credit facilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,700	2,900	2,300	3,200	3,100	2,800	-97,500	500	-4,500	-151,200	-50,100	-524,600	-145,400	1,300	500	0	0	0	-	-	-	-	-330,000	0	0	0
Net payments on other debt
-	-	-	-	-	-3,900	-3,900	-400	-400	-900	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends paid to stockholders
197,200	196,700	196,300	195,900	195,600	195,200	194,800	194,500	194,100	193,600	193,100	192,500	191,900	188,400	185,100	174,800	164,400	157,100	149,800	149,300	148,800	145,500	142,000	138,800	135,500	132,400	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from employee stock compensation plans
168,300	158,200	130,400	106,300	104,400	107,900	116,300	96,400	127,300	145,500	155,700	163,500	171,400	136,600	141,700	149,200	109,000	105,200	107,200	100,400	174,000	284,700	403,900	477,000	546,000	474,800	338,200	245,600	103,600	46,900	43,500	32,300	36,700	43,400	38,000	37,900	29,000	16,900	14,800	14,000	11,100	9,500	0	0	0
Net cash flows from unremitted collections from factoring programs
-16,600	12,200	-2,500	-600	-7,700	36,700	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Business combination contingent consideration payments
0	-	-	-	-	19,800	16,700	17,700	16,700	9,100	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Restricted stock withholdings
-	-	-	-	-	-	-	-	-	-	0	0	7,100	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess income tax benefit from stock option exercises
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	11,800	11,700	11,600	13,500	11,100	11,000	12,100	10,500	8,600	7,700	6,400	5,000	2,700	3,300	2,800	3,800	5,000	4,200	3,900	3,000	1,300	0	0	0	-	-	-	-
Debt issuance costs
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	58,400	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other financing activities
-12,000	-10,200	-1,200	-1,200	-800	-4,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition of noncontrolling interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8,600	0	0	0
Repurchase of common stock
-	-	-	-	-	-	-	-	-	-	-	-	-	415,500	0	0	0	-	-	-	-	400,900	643,000	660,500	729,300	720,800	618,200	698,300	736,000	485,600	489,200	940,900	955,500	1,050,000	1,007,500	683,900	648,200	505,600	923,900	764,800	715,800	923,700	0	0	0
Net cash provided by financing activities
848,100	-779,900	-872,700	-872,000	-2,279,200	-1,302,200	-1,259,600	-1,282,600	-624,800	-1,210,500	-1,286,700	-446,800	345,800	-743,200	-972,500	-1,635,900	-1,294,800	7,106,700	7,382,000	7,510,300	7,289,200	-570,100	-429,200	-353,000	-305,500	-467,300	-403,200	-579,800	-759,900	-436,500	-340,900	-393,600	-368,400	-455,800	-592,300	-644,100	-618,200	-489,600	-388,400	-289,900	-254,100	-262,100	0	0	0
Effect of exchange rates on cash and cash equivalents
-9,400	-1,500	-7,700	-5,300	-19,500	-10,200	-5,000	7,600	32,700	29,300	15,000	8,000	-17,500	-22,700	-10,600	-18,300	-3,000	-22,600	-33,700	-39,300	-38,500	-18,300	-11,400	5,600	-6,300	-17,000	-14,900	-12,900	-7,200	-7,300	-6,800	-18,100	-13,600	2,700	4,500	17,500	12,400	200	-2,000	-5,100	4,700	4,900	0	0	0
Increase in cash and cash equivalents
1,846,800	75,100	-12,100	-78,100	-1,178,600	18,400	43,800	31,200	725,900	-109,700	5,500	-526,300	42,700	-825,200	-991,600	-448,300	-7,796,700	376,000	499,600	455,900	7,910,800	2,700	49,900	258,800	225,700	196,300	115,900	58,900	-17,000	116,000	248,500	26,900	98,400	99,400	-365,600	-329,600	-245,600	-22,800	478,900	676,200	608,400	479,100	0	0	0