Additional Financial Information
Cash Flow
Cash provided by operating activities was $107.9 million for the second quarter of 2018, compared with $87.0 million. The higher cash provided by operating activities in the second quarter of 2018 primarily reflected the impact of higher operating income, partially offset by higher income tax payments. The second quarter of 2017 reflected the impact of transaction related payments for the e2v acquisition. At July 1, 2018, cash totaled $101.4 million and total debt, including capital lease obligations, was $952.0 million. At July 1, 2018, $50.0 million was outstanding under the $750.0 million credit facility. The company received $11.5 million from the exercise of stock options in the second quarter of 2018, compared with $5.4 million. Capital expenditures for the second quarter of 2018 were $27.4 million, compared with $12.3 million. Depreciation and amortization expense for the second quarter of 2018 was $27.6 million, compared with $33.2 million.
| Free Cash Flow (a) | Second Quarter | |||||||||||||||||
| (in millions, brackets indicate use of funds) | 2018 | 2017 | ||||||||||||||||
| Cash provided by operating activities | $ | 107.9 | $ | 87.0 | ||||||||||||||
| Capital expenditures for property, plant and equipment | (27.4 | ) | (12.3 | ) | ||||||||||||||
| Free cash flow | $ | 80.5 | $ | 74.7 | ||||||||||||||
| (a) | The company defines free cash flow as cash provided by operating activities (a measure prescribed by generally accepted accounting principles) less capital expenditures for property, plant and equipment. The company believes that this supplemental non-GAAP information is useful to assist management and the investment community in analyzing the company’s ability to generate cash flow. | ||
