| PTC Inc. | |||||||||||||||||||
| UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||||||||||||||
| (in thousands) | |||||||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||
| July 2, | July 4, | July 2, | July 4, | ||||||||||||||||
| 2016 | 2015 | 2016 | 2015 | ||||||||||||||||
| Cash flows from operating activities: | |||||||||||||||||||
| Net income (loss) | $ | 3,073 | $ | 17,435 | $ | (25,992 | ) | $ | 53,111 | ||||||||||
| Stock-based compensation | 13,796 | 14,071 | 51,821 | 38,135 | |||||||||||||||
| Depreciation and amortization | 21,817 | 21,250 | 64,721 | 63,455 | |||||||||||||||
| Accounts receivable | (5,118 | ) | 22,195 | 58,499 | 44,906 | ||||||||||||||
| Accounts payable and accruals | 7,831 | 7,169 | (9,861 | ) | (10,029 | ) | |||||||||||||
| Deferred revenue | 20,573 | 19,193 | 44,592 | 51,393 | |||||||||||||||
| Income taxes | (8,644 | ) | (9,043 | ) | (17,470 | ) | (25,608 | ) | |||||||||||
| Excess tax benefits from stock-based awards | (38 | ) | 234 | (94 | ) | 71 | |||||||||||||
| Other | 6,167 | (5,665 | ) | 3,380 | (22,971 | ) | |||||||||||||
| Net cash provided by operating activities (5) | 59,457 | 86,839 | 169,596 | 192,463 | |||||||||||||||
| Capital expenditures | (7,766 | ) | (6,530 | ) | (16,632 | ) | (20,637 | ) | |||||||||||
| Acquisitions of businesses, net of cash acquired (6) | - | (98,591 | ) | (164,191 | ) | (98,411 | ) | ||||||||||||
| Proceeds (payments) on debt, net | (60,000 | ) | 93,750 | 110,000 | 12,500 | ||||||||||||||
| Proceeds from issuance of common stock | 18 | 32 | 19 | 38 | |||||||||||||||
| Payments of withholding taxes in connection with | |||||||||||||||||||
| vesting of stock-based awards | (5,165 | ) | (7,253 | ) | (20,636 | ) | (29,117 | ) | |||||||||||
| Repurchases of common stock | - | (49,962 | ) | - | (49,962 | ) | |||||||||||||
| Excess tax benefits from stock-based awards | 38 | (234 | ) | 94 | (71 | ) | |||||||||||||
| Purchase of investments | (44,605 | ) | (10,000 | ) | (44,605 | ) | (11,000 | ) | |||||||||||
| Contingent consideration | (9,371 | ) | - | (10,621 | ) | - | |||||||||||||
| Other financing & investing activities | (5,709 | ) | - | (6,759 | ) | - | |||||||||||||
| Foreign exchange impact on cash | (727 | ) | (806 | ) | 4,944 | (14,397 | ) | ||||||||||||
| Net change in cash and cash equivalents | (73,830 | ) | 7,245 | 21,209 | (18,594 | ) | |||||||||||||
| Cash and cash equivalents, beginning of period | 368,456 | 267,815 | 273,417 | 293,654 | |||||||||||||||
| Cash and cash equivalents, end of period | $ | 294,626 | $ | 275,060 | $ | 294,626 | $ | 275,060 | |||||||||||
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PTC Announces Third Quarter FY’16 Results
 |  | More MCAD News
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(4) In the third quarter of 2016, we began a fixed income investment
plan for a portion of our offshore cash. In connection with the plan, we
invested $50 million in investment grade securities with a weighted
average maturity of less than 18 months.
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