Stock Analysis on Net

Lam Research Corp. (NASDAQ:LRCX)

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.

Lam Research Corp., consolidated cash flow statement

US$ in thousands

Microsoft Excel
12 months ended: Jun 25, 2023 Jun 26, 2022 Jun 27, 2021 Jun 28, 2020 Jun 30, 2019 Jun 24, 2018
Net income 4,510,931 4,605,286 3,908,458 2,251,753 2,191,430 2,380,681
Depreciation and amortization 342,432 333,739 307,151 268,525 309,281 326,395
Deferred income taxes (172,061) (257,438) (151,477) (17,777) (4,980) 3,046
Equity-based compensation expense 286,600 259,064 220,164 189,197 187,234 172,216
Impairment of investments 42,456
Other, net 52,298 (44,751) (17,392) 6,628 1,524 48,146
Accounts receivable, net of allowance 1,452,256 (1,287,680) (928,928) (641,827) 732,138 (501,628)
Inventories (961,968) (1,351,344) (792,591) (411,608) 281,355 (701,008)
Prepaid expenses and other assets 136,016 (53,121) (59,189) (14,354) (17,864) (14,391)
Trade accounts payable (522,200) 167,884 184,615 208,478 (131,472) 35,655
Deferred profit 163,467 604,573 508,008 76,207 (178,074) 112,413
Accrued expenses and other liabilities (108,833) 123,462 409,344 211,229 (194,559) 751,766
Changes in operating asset and liability accounts 158,738 (1,796,226) (678,741) (571,875) 491,524 (317,193)
Adjustments to reconcile net income to net cash provided by operating activities 668,007 (1,505,612) (320,295) (125,302) 984,583 275,066
Net cash provided by operating activities 5,178,938 3,099,674 3,588,163 2,126,451 3,176,013 2,655,747
Capital expenditures and intangible assets (501,568) (546,034) (349,096) (203,239) (303,491) (273,469)
Business acquisition, net of cash acquired (119,955) (115,697)
Purchases of available-for-sale securities (567,819) (3,389,388) (2,897,627) (2,930,049) (2,532,829)
Proceeds from maturities of available-for-sale securities 91,295 190,269 2,381,758 1,647,379 466,539 650,255
Proceeds from sales of available-for-sale securities 6,837 1,543,434 1,472,152 1,235,248 1,137,302 5,035,460
Transfer of restricted cash and investments (96)
Other, net (11,171) (7,575) (42,155) (25,845) (7,355) (15,184)
Net cash (used for) provided by investing activities (534,562) 612,275 73,271 (244,084) (1,637,054) 2,748,440
Principal payments on long-term debt and finance lease obligations and payments for debt issuance costs (23,206) (11,889) (862,060) (667,537) (117,653) (755,694)
Net proceeds from issuance of long-term debt 1,974,651 2,476,720
Net proceeds (repayment) from commercial paper (361,754) 359,604
Proceeds from borrowings on revolving credit facility 1,250,000 750,000
Repayment of borrowings on revolving credit facility (1,250,000) (750,000)
Treasury stock purchases (2,017,012) (3,865,663) (2,697,704) (1,369,649) (3,780,611) (2,653,249)
Dividends paid (907,907) (815,290) (726,992) (656,838) (678,348) (307,609)
Reissuances of treasury stock related to employee stock purchase plan 109,899 108,178 97,764 85,439 77,961 75,624
Proceeds from issuance of common stock 11,111 5,682 24,123 8,084 6,813 9,258
Other, net (3,552) 45 (2,113) 1,920 (13,208) 9
Net cash used for financing activities (2,830,667) (4,578,937) (4,166,982) (623,930) (2,390,080) (3,272,057)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 128 (30,227) 7,215 (2,750) (4,041) 2,593
Net increase (decrease) in cash, cash equivalents and restricted cash 1,813,837 (897,215) (498,333) 1,255,687 (855,162) 2,134,723
Cash, cash equivalents and restricted cash at beginning of year 3,773,535 4,670,750 5,169,083 3,913,396 4,768,558 2,377,534
Cash, cash equivalents and restricted cash at end of year 5,587,372 3,773,535 4,670,750 5,169,083 3,913,396 4,512,257

Based on: 10-K (reporting date: 2023-06-25), 10-K (reporting date: 2022-06-26), 10-K (reporting date: 2021-06-27), 10-K (reporting date: 2020-06-28), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-24).

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. Lam Research Corp. net cash provided by operating activities decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.
Net cash (used for) 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. Lam Research Corp. net cash (used for) provided by investing activities increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Net cash 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. Lam Research Corp. net cash used for financing activities decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.