Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Abiomed Inc., consolidated cash flow statement

US$ in thousands

12 months ended:	Mar 31, 2022	Mar 31, 2021	Mar 31, 2020	Mar 31, 2019	Mar 31, 2018	Mar 31, 2017
Net income	136,505)	225,525)	203,009)	259,016)	112,170)	52,116)
Depreciation and amortization	28,089)	24,097)	20,430)	14,121)	11,005)	6,202)
Acquired in-process research & development	115,986)	—)	—)	—)	—)	—)
Bad debt expense (recoveries)	46)	(126)	487)	720)	38)	159)
Stock-based compensation expense	52,729)	47,006)	39,781)	54,494)	40,353)	32,866)
Write-down of inventory and other	17,993)	8,518)	4,249)	4,252)	3,946)	3,085)
Accretion on marketable securities	3,655)	1,977)	(2,731)	(2,744)	—)	—)
Change in fair value of investments	(22,873)	(50,983)	5,184)	(30,161)	—)	—)
Excess tax benefit from stock-based awards	—)	—)	—)	—)	—)	(12,038)
Deferred tax provision	2,413)	29,380)	32,953)	(7,745)	42,624)	25,803)
Change in fair value of contingent consideration	(862)	2,406)	(575)	(915)	1,337)	1,590)
Gain on previously held interest in preCARDIA	(20,980)	—)	—)	—)	—)	—)
Other non-cash operating activities	2,885)	4,164)	4,108)	—)	—)	—)
Accounts receivable, net	5,335)	(12,059)	5,551)	(22,023)	(15,289)	(11,550)
Inventories, net	(29,323)	2,535)	(13,237)	(37,181)	(15,686)	(12,284)
Prepaid expenses and other assets	(8,406)	(1,032)	(5,333)	(2,527)	(4,466)	(2,366)
Accounts payable	641)	2,629)	2,581)	7,976)	4,412)	7,565)
Accrued expenses and other liabilities	(760)	(14,632)	15,676)	13,406)	7,722)	22,223)
Deferred revenue	2,317)	5,173)	2,787)	1,508)	4,380)	1,745)
Changes in assets and liabilities	(30,196)	(17,386)	8,025)	(38,841)	(18,927)	5,333)
Adjustments to reconcile net income to net cash provided by operating activities	148,885)	49,053)	111,911)	(6,819)	80,376)	63,000)
Net cash provided by operating activities	285,390)	274,578)	314,920)	252,197)	192,546)	115,116)
Purchases of marketable securities	(787,150)	(556,199)	(611,280)	(361,602)	(325,408)	(278,501)
Proceeds from the sale and maturity of marketable securities	543,513)	396,643)	550,788)	331,886)	206,909)	205,482)
Acquisition of preCARDIA, net of cash acquired	(82,821)	—)	—)	—)	—)	—)
Acquisition of Breethe, net of cash acquired	—)	(52,183)	—)	—)	—)	—)
Purchases of other investments and intangible assets	(18,769)	(26,104)	(20,957)	(42,735)	(6,400)	(2,899)
Proceeds from sale of Shockwave Medical securities	—)	67,882)	—)	—)	—)	—)
Purchases of property and equipment	(35,763)	(53,383)	(44,006)	(44,004)	(55,863)	(50,415)
Net cash used for investing activities	(380,990)	(223,344)	(125,455)	(116,455)	(180,762)	(126,333)
Proceeds from the exercise of stock options	9,424)	9,075)	3,748)	12,949)	9,303)	10,660)
Excess tax benefit from stock-based awards	—)	—)	—)	—)	—)	12,038)
Taxes paid related to net share settlement upon vesting of stock awards	(16,526)	(11,311)	(41,687)	(71,776)	(20,317)	(20,105)
Payment of Breethe contingent consideration at acquisition date fair value	(2,334)	—)	—)	—)	—)	—)
Repurchase of common stock	—)	(11,310)	(84,879)	—)	—)	—)
Proceeds from the issuance of stock under employee stock purchase plan	7,234)	5,479)	5,103)	3,052)	2,394)	1,720)
Principal payments on capital lease obligation	—)	—)	—)	—)	(517)	(446)
Net cash provided by (used for) financing activities	(2,202)	(8,067)	(117,715)	(55,775)	(9,137)	3,867)
Effect of exchange rate changes on cash and cash equivalents	(2,090)	(2,798)	(430)	(1,921)	1,288)	(1,841)
Net increase (decrease) in cash and cash equivalents	(99,892)	40,369)	71,320)	78,046)	3,935)	(9,191)
Cash and cash equivalents at beginning of period	232,710)	192,341)	121,021)	42,975)	39,040)	48,231)
Cash and cash equivalents at end of period	132,818)	232,710)	192,341)	121,021)	42,975)	39,040)

Based on: 10-K (reporting date: 2022-03-31), 10-K (reporting date: 2021-03-31), 10-K (reporting date: 2020-03-31), 10-K (reporting date: 2019-03-31), 10-K (reporting date: 2018-03-31), 10-K (reporting date: 2017-03-31).

Download chart

Cash flow statement item	Description	The company
Net cash provided by operating activities	Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.	Abiomed Inc. net cash provided by operating activities decreased from 2020 to 2021 but then slightly increased from 2021 to 2022.
Net cash used for investing activities	Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.	Abiomed Inc. net cash used for investing activities decreased from 2020 to 2021 and from 2021 to 2022.
Net cash provided by (used for) financing activities	Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.	Abiomed Inc. net cash provided by (used for) financing activities increased from 2020 to 2021 and from 2021 to 2022.

Abiomed Inc. (NASDAQ:ABMD)

Cash Flow Statement