| 3D Systems Corporation | ||||||||
| Unaudited Condensed Consolidated Statements of Cash Flows | ||||||||
| Full Year Ended December 31, 2017 and 2016 | ||||||||
| Full Year Ended December 31, | ||||||||
| (In thousands) | 2017 | 2016 | ||||||
| Cash flows from operating activities: | ||||||||
| Net loss | $ | (65,323 | ) | $ | (39,265 | ) | ||
| Adjustments to reconcile net loss to net cash provided by operating activities: | ||||||||
| Depreciation and amortization | 62,041 | 60,535 | ||||||
| Stock-based compensation | 27,260 | 31,295 | ||||||
| Lower of cost or market adjustment | 12,883 | 11,053 | ||||||
| Impairment of assets | 2,427 | 8,618 | ||||||
| Provision for bad debts | 1,051 | 1,552 | ||||||
| Benefit of deferred income taxes | (5,567 | ) | (6,566 | ) | ||||
| (Gain) loss on the disposition of property and equipment | — | 1,465 | ||||||
| Changes in operating accounts, net of acquisitions: | ||||||||
| Accounts receivable | 3,987 | 26,255 | ||||||
| Inventories | (17,716 | ) | (20,656 | ) | ||||
| Prepaid expenses and other current assets | (49,834 | ) | (3,895 | ) | ||||
| Accounts payable | 12,448 | (4,975 | ) | |||||
| Accrued and other current liabilities | 50,209 | (7,670 | ) | |||||
| All other operating activities | (7,925 | ) | (265 | ) | ||||
| Net cash provided by operating activities | 25,941 | 57,481 | ||||||
| Cash flows from investing activities: | ||||||||
| Cash paid for acquisitions, net of cash assumed | (34,291 | ) | — | |||||
| Purchases of property and equipment | (30,881 | ) | (16,567 | ) | ||||
| Additions to license and patent costs | (1,159 | ) | (1,132 | ) | ||||
| Proceeds from disposition of property and equipment | 273 | 350 | ||||||
| Purchase of noncontrolling interest | (2,250 | ) | (3,533 | ) | ||||
| Other investing activities | (2,351 | ) | (1,000 | ) | ||||
| Net cash used in investing activities | (70,659 | ) | (21,882 | ) | ||||
| Cash flows from financing activities: | ||||||||
| Payments related to net-share settlement of stock-based compensation | (5,545 | ) | (2,871 | ) | ||||
| Payments on earnout consideration | (3,206 | ) | — | |||||
| Repayment of capital lease obligations | (437 | ) | (1,055 | ) | ||||
| Net cash used in financing activities | (9,188 | ) | (3,926 | ) | ||||
| Effect of exchange rate changes on cash and cash equivalents | 5,303 | (2,369 | ) | |||||
| Net increase (decrease) in cash and cash equivalents | (48,603 | ) | 29,304 | |||||
| Cash and cash equivalents at the beginning of the period | 184,947 | 155,643 | ||||||
| Cash and cash equivalents at the end of the period | $ | 136,344 | $ | 184,947 | ||||
3D Systems Reports Fourth Quarter and Full Year 2017 Financial Results
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