SEC Filings

10-Q
CIMPRESS N.V. filed this Form 10-Q on 11/03/2017
Entire Document
 

CIMPRESS N.V.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited in thousands)

Three Months Ended September 30,
 
2017

2016
Operating activities
 


 

Net income (loss)
$
23,406


$
(30,030
)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
 


 

Depreciation and amortization
42,384


35,405

Share-based compensation expense
6,912


11,571

Deferred taxes
(16,589
)

(18,163
)
Gain on sale of subsidiaries
(47,545
)
 

Change in contingent earn-out liability
827

 
16,020

Unrealized loss on derivatives not designated as hedging instruments included in net income (loss)
6,066


1,811

Effect of exchange rate changes on monetary assets and liabilities denominated in non-functional currency
8,386


3,027

Other non-cash items
23


670

Changes in operating assets and liabilities:
 


 

Accounts receivable
(8,839
)

2,917

Inventory
(8,985
)

(1,220
)
Prepaid expenses and other assets
(4,893
)

671

Accounts payable
(1,621
)

(7,952
)
Accrued expenses and other liabilities
16,847


(5,127
)
Net cash provided by operating activities
16,379


9,600

Investing activities
 


 

Purchases of property, plant and equipment
(20,457
)
 
(19,319
)
Proceeds from the sale of subsidiaries, net of transaction costs and cash divested
93,779



Business acquisitions, net of cash acquired
(110
)
 
(580
)
Purchases of intangible assets
(24
)
 
(26
)
Capitalization of software and website development costs
(8,934
)
 
(8,312
)
Other investing activities
(1,956
)
 
785

Net cash provided by (used in) investing activities
62,298


(27,452
)
Financing activities
 
 
 
Proceeds from borrowings of debt
179,532

 
87,000

Payments of debt and debt issuance costs
(237,929
)
 
(82,725
)
Payments of withholding taxes in connection with equity awards
(1,190
)
 
(7,549
)
Payments of capital lease obligations
(4,658
)
 
(3,276
)
Purchase of ordinary shares
(40,674
)
 

Proceeds from issuance of ordinary shares
6,070

 

Issuance of loans
(12,000
)


Proceeds from sale of noncontrolling interest
35,390

 

Net cash used in financing activities
(75,459
)
 
(6,550
)
Effect of exchange rate changes on cash
1,843

 
601

Change in cash held for sale
12,042

 

Net increase (decrease) in cash and cash equivalents
17,103

 
(23,801
)
Cash and cash equivalents at beginning of period
25,697

 
77,426

Cash and cash equivalents at end of period
$
42,800

 
$
53,625

See accompanying notes.





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