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.

Microchip Technology 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	1,285,500)	349,400)	570,600)	355,900)	255,400)	164,639)
Depreciation and amortization	1,143,500)	1,153,300)	1,215,600)	876,400)	615,900)	469,208)
Deferred income taxes	7,900)	(138,900)	(490,300)	(62,200)	51,200)	(126,888)
Share-based compensation expense related to equity incentive plans	210,200)	198,300)	170,200)	166,400)	93,200)	128,155)
Loss on settlement of debt	113,400)	299,600)	5,400)	12,600)	16,000)	43,879)
Amortization of debt discount	44,900)	71,100)	121,700)	114,600)	106,100)	56,075)
Amortization of debt issuance costs	11,500)	17,100)	17,100)	16,500)	6,600)	4,524)
Losses on equity method investments	—)	—)	—)	200)	200)	222)
Impairment of intangible assets	3,000)	—)	2,200)	3,100)	500)	11,904)
Realized gain on equity method investment	—)	—)	—)	—)	—)	(468)
Impairment of available-for-sale investment	—)	—)	—)	6,000)	15,500)	1,433)
Amortization of premium on available-for-sale investments	—)	—)	—)	(200)	300)	18)
Other non-cash adjustment	(11,400)	(6,400)	(2,000)	800)	(5,800)	2,582)
(Increase) decrease in accounts receivable	(74,900)	(63,700)	(53,300)	238,800)	(85,300)	(46,831)
(Increase) decrease in inventories	(177,800)	18,400)	28,800)	341,600)	(59,200)	223,711)
Increase (decrease) in deferred income on shipments to distributors	—)	—)	—)	—)	41,000)	109,383)
Increase (decrease) in accounts payable and accrued liabilities	192,700)	17,600)	11,400)	(180,700)	(13,900)	(16,070)
Change in other assets and liabilities	79,400)	(16,700)	(13,100)	(24,200)	14,000)	24,628)
Change in income tax payable	14,800)	17,400)	(40,500)	(190,800)	367,900)	—)
Changes in operating assets and liabilities, excluding impact of acquisitions	34,200)	(27,000)	(66,700)	184,700)	264,500)	294,821)
Adjustments to reconcile net income to net cash provided by operating activities	1,557,200)	1,567,100)	973,200)	1,318,900)	1,164,200)	885,465)
Net cash provided by operating activities	2,842,700)	1,916,500)	1,543,800)	1,674,800)	1,419,600)	1,050,104)
Purchases of available-for-sale investments	—)	—)	(2,000)	(167,700)	(1,594,800)	(500,309)
Maturities of available-for-sale investments	—)	—)	—)	78,000)	786,700)	400)
Sales of available-for-sale investments and marketable equity securities	—)	—)	4,700)	1,376,600)	—)	470,165)
Sale of equity method investment	—)	—)	—)	—)	—)	1,746)
Acquisition of Atmel, net of cash acquired	—)	—)	—)	—)	—)	(2,747,516)
Acquisition of Microsemi, net of cash acquired	—)	—)	—)	(7,850,600)	—)	—)
Proceeds from sales of assets	14,100)	8,300)	3,200)	200)	10,300)	23,069)
Investments in other assets	(121,700)	(89,000)	(71,500)	(18,600)	(7,100)	(10,218)
Capital expenditures	(370,100)	(92,600)	(67,600)	(228,900)	(206,800)	(75,310)
Net cash used in investing activities	(477,700)	(173,300)	(133,200)	(6,811,000)	(1,011,700)	(2,837,973)
Proceeds from borrowings on Revolving Credit Facility	4,176,000)	3,966,000)	1,026,000)	4,416,500)	187,000)	1,537,000)
Repayments of Revolving Credit Facility	(5,123,500)	(4,007,900)	(1,904,000)	(1,150,000)	(187,000)	(2,781,000)
Proceeds from issuance of senior notes	997,000)	3,577,800)	—)	1,989,500)	—)	2,645,000)
Repayment of senior notes	(1,000,000)	—)	—)	—)	—)	—)
Proceeds from borrowings on Bridge Loan Facility	—)	—)	611,900)	—)	—)	—)
Repayment of Bridge Loan Facility	—)	(615,000)	—)	—)	—)	—)
Proceeds from borrowings on Term Loan Facility	—)	—)	—)	3,000,000)	—)	—)
Repayments of Term Loan Facility	—)	(1,723,500)	(188,000)	(1,088,500)	—)	—)
Payments on settlement of convertible debt	(424,700)	(2,611,400)	(615,000)	—)	(73,400)	(436,205)
Repayment of debt assumed in Microsemi acquisition	—)	—)	—)	(2,056,900)	—)	—)
Deferred financing costs	(8,500)	(21,200)	(8,900)	(72,700)	(1,200)	(36,930)
Purchase of capped call options	—)	(35,800)	—)	—)	—)	—)
Proceeds from sale of common stock	70,500)	60,300)	58,800)	42,600)	42,000)	42,210)
Tax payments related to shares withheld for vested RSUs	(84,200)	(64,600)	(68,100)	(71,800)	(44,400)	(58,402)
Repurchase of common stock	(425,600)	—)	—)	—)	—)	—)
Payment of cash dividends	(503,800)	(388,300)	(350,100)	(344,400)	(337,500)	(315,429)
Capital lease payments	(800)	(600)	(800)	(800)	(800)	(783)
Net cash used in financing activities	(2,327,600)	(1,864,200)	(1,438,200)	4,663,500)	(415,300)	595,461)
Operating cash flows related to discontinued operations	—)	—)	—)	—)	—)	9,348)
Effect of foreign exchange rate changes on cash and cash equivalents	—)	—)	—)	—)	—)	(1,007)
Net increase (decrease) in cash and cash equivalents	37,400)	(121,000)	(27,600)	(472,700)	(7,400)	(1,184,067)
Cash and cash equivalents, and restricted cash at beginning of period	280,000)	401,000)	428,600)	901,300)	908,700)	2,092,751)
Cash and cash equivalents, and restricted cash at end of period	317,400)	280,000)	401,000)	428,600)	901,300)	908,684)

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.	Microchip Technology Inc. net cash provided by operating activities increased from 2020 to 2021 and from 2021 to 2022.
Net cash used in 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.	Microchip Technology Inc. net cash used in investing activities decreased from 2020 to 2021 and from 2021 to 2022.
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.	Microchip Technology Inc. net cash used in financing activities decreased from 2020 to 2021 and from 2021 to 2022.

Microchip Technology Inc. (NASDAQ:MCHP)

Cash Flow Statement