3D Systems Corporation

Unaudited Condensed Consolidated Statements of Cash Flows

Six Months Ended June 30, 2017 and 2016

Six Months Ended June 30,

(In thousands)

2017

2016

Cash flows from operating activities:

Net loss

$

(17,909)

$

(23,021)

Adjustments to reconcile net loss to net cash provided by operating activities:

Depreciation and amortization 

30,575

30,435

Stock-based compensation 

14,450

18,893

Provision for bad debts 

166

2,677

Benefit of deferred income taxes 

(1,580)

(2,201)

Changes in operating accounts, net of acquisitions:

Accounts receivable 

5,549

30,375

Inventories 

(9,766)

(16,153)

Prepaid expenses and other current assets 

(2,532)

(2,463)

Accounts payable 

4,343

(4,526)

Accrued and other current liabilities

(6,727)

(4,328)

Deferred revenue

8,032

8,198

All other operating activities

(6,209)

(6,846)

Net cash provided by operating activities 

18,392

31,040

Cash flows from investing activities:

Cash paid for acquisitions, net of cash assumed 

(34,291)

-

Purchases of property and equipment 

(11,243)

(7,597)

Additions to license and patent costs 

(571)

(790)

Other investing activities

(1,650)

(1,000)

Proceeds from disposition of property and equipment

271

-

Net cash used in investing activities 

(47,484)

(9,387)

Cash flows from financing activities:

Payments on earnout consideration

(3,206)

-

Repurchase of stock, net, and employer paid tax on employee awards

(1,970)

(1,307)

Repayment of capital lease obligations 

(290)

(524)

Net cash used in financing activities 

(5,466)

(1,831)

Effect of exchange rate changes on cash and cash equivalents

3,602

783

Net (decrease) increase in cash and cash equivalents 

20,605

Cash and cash equivalents at the beginning of the period 

184,947

155,643

Cash and cash equivalents at the end of the period 

$

153,991

$

176,248

Cash interest payments 

$

400

$

211

Cash income tax payments, net

$

3,367

$

5,933

Transfer of equipment from inventory to property and equipment, net (a) 

$

7,689

$

7,529

Transfer of equipment to inventory from property and equipment, net (b) 

$

907

$

2,075

Stock issued for acquisitions

$

3,208

$

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