|
3D Systems Corporation
Unaudited Condensed Consolidated Statements of Cash Flows Nine Months Ended September 30, 2016 and 2015 | ||||||||||
| Nine Months Ended September 30, | ||||||||||
| (In thousands) | 2016 | 2015 | ||||||||
| Cash flows from operating activities: | ||||||||||
| Net loss | $ | (44,448 | ) | $ | (59,469 | ) | ||||
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||||||||||
| Benefit of deferred income taxes | (5,464 | ) | (21,971 | ) | ||||||
| Depreciation and amortization | 45,731 | 63,905 | ||||||||
| Provision for arbitration award | — | 11,282 | ||||||||
| Impairment of assets | 8,590 | 1,111 | ||||||||
| Provision for bad debts | 1,488 | 4,123 | ||||||||
| Inventory reserve of discontinued products | 10,723 | — | ||||||||
| Stock-based compensation | 28,405 | 28,850 | ||||||||
| Loss on the disposition of property and equipment | 2,052 | 1,182 | ||||||||
| Changes in operating accounts: | ||||||||||
| Accounts receivable | 36,357 | 37,426 | ||||||||
| Inventories | (16,977 | ) | (40,987 | ) | ||||||
| Prepaid expenses and other current assets | (1,619 | ) | (10,136 | ) | ||||||
| Accounts payable | (9,938 | ) | (19,657 | ) | ||||||
| Accrued and other current liabilities | (8,452 | ) | (5,348 | ) | ||||||
| Customer deposits | (2,389 | ) | 566 | |||||||
| All other operating activities | (5,819 | ) | (1,485 | ) | ||||||
| Net cash provided by (used in) operating activities | 38,240 | (10,608 | ) | |||||||
| Cash flows from investing activities: | ||||||||||
| Purchases of property and equipment | (12,014 | ) | (18,064 | ) | ||||||
| Additions to license and patent costs | (790 | ) | (719 | ) | ||||||
| Cash paid for acquisitions, net of cash assumed | — | (91,799 | ) | |||||||
| Other investing activities | (1,000 | ) | (3,750 | ) | ||||||
| Net cash used in investing activities | (13,804 | ) | (114,332 | ) | ||||||
| Cash flows from financing activities: | ||||||||||
| Tax benefits from share-based payment arrangements | — | 467 | ||||||||
| Proceeds, repurchase and retirement of stock, net | (1,507 | ) | 748 | |||||||
| Repayment of capital lease obligations | (786 | ) | (788 | ) | ||||||
| Net cash provided by (used in) financing activities | (2,293 | ) | 427 | |||||||
| Effect of exchange rate changes on cash and cash equivalents | 1,572 | (2,896 | ) | |||||||
| Net increase (decrease) in cash and cash equivalents | 23,715 | (127,409 | ) | |||||||
| Cash and cash equivalents at the beginning of the period | 155,643 | 284,862 | ||||||||
| Cash and cash equivalents at the end of the period | $ | 179,358 | $ | 157,453 | ||||||
