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.
KLA Corp., consolidated cash flow statement
US$ in thousands
12 months ended:
Jun 30, 2023
Jun 30, 2022
Jun 30, 2021
Jun 30, 2020
Jun 30, 2019
Jun 30, 2018
Net income
3,387,351)
3,322,060)
2,077,353)
1,215,025)
1,175,017)
802,265)
Goodwill impairment
—)
—)
—)
256,649)
—)
—)
Depreciation and amortization
415,113)
363,344)
333,335)
348,049)
233,224)
62,684)
Loss on extinguishment of debt
13,286)
—)
—)
22,538)
—)
—)
Unrealized foreign exchange (gain) loss and other
(17,825)
46,531)
(19,441)
13,860)
3,830)
195)
Asset impairment charges
9,905)
5,962)
842)
13,341)
221)
1,000)
Disposal of non-controlling interest
8,270)
—)
—)
—)
—)
—)
Stock-based compensation expense
171,424)
126,918)
111,836)
111,381)
94,194)
62,784)
Gain on sale of business
(29,687)
—)
(4,422)
—)
—)
—)
Deferred income taxes
(298,145)
(329,501)
(44,445)
(93,110)
(27,511)
98,760)
Gain on fair value adjustment of marketable equity securities
—)
—)
(26,719)
—)
—)
—)
Settlement of treasury lock agreement
—)
82,799)
—)
(21,518)
—)
—)
Accounts receivable
(48,534)
(510,326)
(203,155)
(118,362)
(146,151)
(76,497)
Inventories
(749,047)
(567,003)
(270,100)
(74,817)
(59,561)
(182,883)
Other assets
(121,018)
(217,070)
(96,218)
(11,147)
(47,123)
(37,632)
Accounts payable
(144,661)
101,632)
79,366)
61,144)
(21,627)
21,778)
Deferred system revenue
150,750)
213,368)
(44,674)
57,687)
(15,674)
98,720)
Deferred service revenue
88,223)
129,718)
45,845)
22,779)
15,064)
—)
Other liabilities
834,400)
544,270)
245,623)
(24,649)
(51,271)
377,946)
Changes in assets and liabilities, net of assets acquired and liabilities assumed in business acquisitions
10,113)
(305,411)
(243,313)
(87,365)
(326,343)
201,432)
Adjustments to reconcile net income to net cash provided by operating activities
282,454)
(9,358)
107,673)
563,825)
(22,385)
426,855)
Net cash provided by operating activities
3,669,805)
3,312,702)
2,185,026)
1,778,850)
1,152,632)
1,229,120)
Acquisition of non-marketable securities
—)
—)
—)
—)
(630)
(3,377)
Proceeds from sale of assets
—)
27,658)
1,855)
—)
—)
14)
Net proceeds from sale of business
75,358)
—)
16,833)
—)
—)
—)
Business acquisitions, net of cash acquired
(27,144)
(479,113)
—)
(90,143)
(1,818,283)
(17,403)
Capital expenditures
(341,591)
(307,320)
(231,628)
(152,675)
(130,498)
(66,961)
Purchases of available-for-sale securities
(1,441,933)
(987,660)
(1,018,744)
(798,493)
(81,533)
(466,330)
Proceeds from sale of available-for-sale securities
124,620)
113,538)
145,533)
148,969)
256,395)
233,259)
Proceeds from maturity of available-for-sale securities
1,134,182)
760,548)
581,679)
626,943)
589,324)
608,446)
Purchases of trading securities
(96,611)
(121,254)
(107,867)
(110,241)
(81,022)
(77,922)
Proceeds from sale of trading securities
89,528)
116,350)
111,321)
115,680)
85,265)
81,892)
Proceeds from other investments
1,020)
795)
614)
1,086)
—)
—)
Net cash (used in) provided by investing activities
(482,571)
(876,458)
(500,404)
(258,874)
(1,180,982)
291,618)
Payment of debt issuance costs
(6,515)
—)
—)
—)
—)
—)
Proceeds from issuance of debt, net of issuance costs
—)
2,967,409)
40,343)
741,832)
1,183,785)
—)
Proceeds from revolving credit facility, net of costs
300,000)
875,000)
—)
450,000)
900,000)
248,693)
Repayment of debt
(1,087,250)
(620,000)
(70,000)
(1,171,033)
(902,474)
(946,250)
Common stock repurchases
(1,311,864)
(3,967,806)
(938,607)
(829,084)
(1,095,202)
(203,169)
Forward contract for accelerated share repurchases
—)
(900,000)
—)
—)
—)
—)
Payment of dividends to stockholders
(732,556)
(638,528)
(559,353)
(522,421)
(472,263)
(402,065)
Payment of dividends to subsidiary’s non-controlling interest holders
—)
(602)
—)
(1,239)
—)
—)
Issuance of common stock
124,847)
113,014)
86,098)
75,634)
64,828)
61,444)
Tax withholding payments related to vested and released restricted stock units
(94,806)
(84,371)
(56,362)
(46,260)
(37,517)
(28,756)
Payment of contingent consideration payable
(17,850)
(1,121)
—)
2,936)
(1,162)
—)
Purchase of non-controlling interest
(4,295)
—)
—)
—)
—)
—)
Net cash used in financing activities
(2,830,289)
(2,257,005)
(1,497,881)
(1,299,635)
(360,005)
(1,270,103)
Effect of exchange rate changes on cash and cash equivalents
(13,988)
(28,941)
13,460)
(1,926)
(33)
696)
Net increase (decrease) in cash and cash equivalents
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.
KLA Corp. net cash provided by operating activities increased from 2021 to 2022 and from 2022 to 2023.
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.
KLA Corp. net cash (used in) provided by investing activities decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.
Net cash 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.
KLA Corp. net cash used in financing activities decreased from 2021 to 2022 and from 2022 to 2023.
