| 3D Systems Corporation | |||||||
| Unaudited Condensed Consolidated Statements of Cash Flows | |||||||
| Nine Months Ended September 30, 2022 and 2021 | |||||||
| (Unaudited) | |||||||
| Nine Months Ended September 30, | |||||||
| (in thousands) | 2022 | 2021 | |||||
| Cash flows from operating activities: | |||||||
| Net (loss) income | $ | (97,342 | ) | $ | 328,252 | ||
| Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: | |||||||
| Depreciation, amortization and accretion of debt discount | 28,264 | 26,292 | |||||
| Stock-based compensation | 31,508 | 43,991 | |||||
| Loss on short-term investments | 2,609 | — | |||||
| Provision for inventory obsolescence and revaluation | 646 | 1,100 | |||||
| Loss on hedge accounting de-designation and termination | — | 721 | |||||
| Provision for bad debts | 329 | 620 | |||||
| (Gain) on the disposition of businesses, property, equipment and other assets | (365 | ) | (351,981 | ) | |||
| Provision (benefit) for deferred income taxes and reserve adjustments | 1,666 | (9,380 | ) | ||||
| Asset impairment | 2,359 | — | |||||
| Changes in operating accounts: | |||||||
| Accounts receivable | (1,513 | ) | (2,151 | ) | |||
| Inventories | (30,342 | ) | 7,095 | ||||
| Prepaid expenses and other current assets | 2,562 | 5,338 | |||||
| Accounts payable | (1,666 | ) | 15,517 | ||||
| Deferred revenue and customer deposits | (3,468 | ) | 5,401 | ||||
| Accrued and other liabilities | 12,387 | (9,859 | ) | ||||
| All other operating activities | (83 | ) | 1,696 | ||||
| Net cash (used in) provided by operating activities | (52,449 | ) | 62,652 | ||||
| Cash flows from investing activities: | |||||||
| Purchases of property and equipment | (17,055 | ) | (14,814 | ) | |||
| Purchases of short-term investments | (384,406 | ) | — | ||||
| Sales and maturities of short-term investments | 112,050 | — | |||||
| Proceeds from sale of assets and businesses, net of cash sold | — | 427,664 | |||||
| Acquisitions and other investments, net of cash acquired | (84,705 | ) | (10,936 | ) | |||
| Other investing activities | — | (2,273 | ) | ||||
| Net cash (used in) provided by investing activities | (374,116 | ) | 399,641 | ||||
| Cash flows from financing activities: | |||||||
| Repayment of borrowings/long-term debt | — | (21,392 | ) | ||||
| Debt issuance cost | — | — | |||||
| Purchase of noncontrolling interest | (2,300 | ) | (4,000 | ) | |||
| Taxes paid related to net-shares settlement of equity awards | (10,195 | ) | (10,386 | ) | |||
| Other financing activities | (486 | ) | (424 | ) | |||
| Net cash used in financing activities | (12,981 | ) | (36,202 | ) | |||
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | (7,911 | ) | (7,737 | ) | |||
| Net (decrease) increase in cash, cash equivalents and restricted cash | (447,457 | ) | 418,354 | ||||
| Cash, cash equivalents and restricted cash at the beginning of the period(a) | 789,970 | 84,711 | |||||
| Cash, cash equivalents and restricted cash at the end of the period(a) | $ | 342,513 | $ | 503,065 | |||
- The amounts for cash and cash equivalents shown above include restricted cash of $1,216 and $313 as of September 30, 2022, and 2021, respectively, and $313, $540, as of December 31, 2021 and 2020, respectively, which were included in prepaid expenses and other assets net on the condensed consolidated balance sheet.
