II-VI Incorporated Reports Q4 and Full-Year Fiscal 2022 Results
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II-VI Incorporated and Subsidiaries | |
Condensed Consolidated Statements of Cash Flows (Unaudited) | |
($000) | |
Year Ended | | | |
June 30, | | | | |
2022 | | | |
2021 | | |
Cash Flows from Operating Activities | | | | | |
Net cash provided by operating activities | | $ | 413,332 | | | $ | 574,353 | | | | | | | | |
Cash Flows from Investing Activities | | | | | | Additions to property, plant & equipment | | | (314,332 | ) | | | (146,337 | ) | | Purchases of businesses, net of cash acquired | | | — | | | | (34,394 | ) | | Other investing activities | | | (5,750 | ) | | | 7,774 | | |
Net cash used in investing activities | | | (320,082 | ) | | | (172,957 | ) | | | | | | | |
Cash Flows from Financing Activities | | | | | | Proceeds from issuance of Senior Notes | | | 990,000 | | | | — | | | Proceeds from issuance of common shares | | | — | | | | 460,000 | | | Proceeds from issuance of Series A preferred shares | | | — | | | | 460,000 | | | Proceeds from issuance of Series B preferred shares | | | — | | | | 750,000 | | | Payment on Finisar Notes | | | (14,888 | ) | | | — | | | Payments on borrowings under Term A Facility | | | (62,050 | ) | | | (137,050 | ) | | Payments on borrowings under Term B Facility | | | — | | | | (714,600 | ) | | Payments on borrowings under Revolving Credit Facility | | | — | | | | (74,000 | ) | | Debt issuance costs | | | (10,197 | ) | | | — | | | Equity issuance costs | | | — | | | | (58,596 | ) | | Proceeds from exercises of stock options and purchases of stock under employee stock purchase plan | | | 17,858 | | | | 32,360 | | | Payments in satisfaction of employees' minimum tax obligations | | | (21,249 | ) | | | (19,701 | ) | | Payment of dividends | | | (34,508 | ) | | | (20,319 | ) | | Other financing activities | | | (2,013 | ) | | | (2,367 | ) | |
Net cash provided by financing activities | | | 862,953 | | | | 675,727 | | | | | | | | | Effect of exchange rate changes on cash, cash equivalents and restricted cash | | | 34,276 | | | | 21,723 | | | Net increase in cash, cash equivalents and restricted cash | | | 990,479 | | | | 1,098,846 | | | Cash, Cash Equivalents, and Restricted Cash at Beginning of Period | | | 1,591,892 | | | | 493,046 | | |
Cash, Cash Equivalents, and Restricted Cash at End of Period | | $ | 2,582,371 | | | $ | 1,591,892 | | | | | | | | | | | |
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