Stock Analysis on Net
Stock Analysis on Net
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Illumina Inc. (NASDAQ:ILMN)

Cash Flow Statement

Beginner level

The cash flow statement provides information about a company’s 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’s 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.

Illumina Inc., consolidated cash flow statement

US$ in millions

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12 months ended: Dec 29, 2019 Dec 30, 2018 Dec 31, 2017 Jan 1, 2017 Jan 3, 2016
Consolidated net income 990  782  678  428  457 
Depreciation expense 151  140  110  90  73 
Amortization of intangible assets 37  39  46  51  54 
Share-based compensation expense 194  193  164  129  133 
Accretion of debt discount 46  41  30  30  39 
Incremental tax benefit related to share-based compensation —  —  —  (91) (127)
Deferred income taxes 11  (18) 81  94  81 
Payment of accreted debt discount (84) —  —  —  — 
Unrealized gains on marketable equity securities (53) (21) —  —  — 
Gains on deconsolidation (54) —  (453) —  — 
Loss on Continuation Advances —  —  —  — 
Impairment of intangible assets —  —  23  —  — 
Cost-method investment gain, net —  —  —  —  (16)
Other (1)
Accounts receivable (58) (105) (26) (96)
Inventory 25  (53) (33) (30) (81)
Prepaid expenses and other current assets (14) (1) (11)
Operating lease right-of-use assets and liabilities, net (5) —  —  —  — 
Other assets (30) (9) (5) (7) (1)
Accounts payable (35) 45  10  (2) 46 
Accrued liabilities (44) 103  81  (24) 99 
Other long-term liabilities (33) (4) 160  16 
Changes in operating assets and liabilities (194) (18) 195  (45) (38)
Adjustments to reconcile net income to net cash provided by operating activities 61  360  197  259  202 
Net cash provided by operating activities 1,051  1,142  875  687  660 
Maturities of available-for-sale securities 1,387  860  321  140  294 
Purchases of available-for-sale securities (1,010) (2,859) (742) (894) (797)
Sales of available-for-sale securities 629  597  322  543  583 
Purchases of property and equipment (209) (296) (310) (260) (143)
Net purchases of strategic investments (20) (15) (29) (14) (6)
Cash paid for Continuation Advances (18) —  —  —  — 
Deconsolidation of Helix and GRAIL cash (29) —  (52) —  — 
Proceeds from the deconsolidation of GRAIL 15  —  278  —  — 
Net cash paid for acquisitions —  (100) —  (18) (37)
Cash paid for intangible assets —  —  (2) (11) — 
Net cash (used in) provided by investing activities 745  (1,813) (214) (515) (106)
Payments on financing obligations (550) (4) (9) (66) (245)
Net proceeds from issuance of debt —  735  — 
Incremental tax benefit related to share-based compensation —  —  —  91  127 
Common stock repurchases (324) (201) (251) (249) (274)
Proceeds from issuance of common stock 59  46  71  48  72 
Taxes paid related to net share settlement of equity awards (82) (74) (68) (100) (127)
Contributions from noncontrolling interest owners —  92  79  89  32 
Payments on acquisition-related contingent consideration liability —  —  (3) (29) (3)
Proceeds from early exercise of equity awards from a subsidiary —  —  —  — 
Net cash provided by (used in) financing activities (897) 594  (176) (205) (419)
Effect of exchange rate changes on cash and cash equivalents (1) (4) (2) (2)
Net increase (decrease) in cash and cash equivalents 898  (81) 490  (34) 133 
Cash and cash equivalents at beginning of year 1,144  1,225  735  769  636 
Cash and cash equivalents at end of year 2,042  1,144  1,225  735  769 

Based on: 10-K (filing date: 2020-02-11), 10-K (filing date: 2019-02-12), 10-K (filing date: 2018-02-13), 10-K (filing date: 2017-02-14), 10-K (filing date: 2016-03-02).

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. Illumina Inc.’s net cash provided by operating activities increased from 2017 to 2018 but then slightly decreased from 2018 to 2019.
Net cash (used in) provided by 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. Illumina Inc.’s net cash (used in) provided by investing activities decreased from 2017 to 2018 but then increased from 2018 to 2019 exceeding 2017 level.
Net cash provided by (used in) 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. Illumina Inc.’s net cash provided by (used in) financing activities increased from 2017 to 2018 but then decreased significantly from 2018 to 2019.