Arista Networks, Inc. (ANET) FY2024 Q1 Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2024-01-01 to 2024-03-31

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Arista Networks, Inc. cash flow reconciliation, Jan 1, 2024 through Mar 31, 2024One connected Sankey reconciles operating, investing and financing net cash flows through a shared cash pool, from beginning cash to ending cash. Ribbons flow left to right on one dollar scale. Activity totals are dark gray; beginning and ending cash are blue. Cash basis for beginning and ending balances and net cash change: Cash, cash equivalents, and restricted cash. Intermediate calculation bars are lighter gray. Net income is green for profit and red for loss. Identified asset purchases, sales and maturities are blue in either cash direction. Orange marks positive customer-advance and deferred-revenue changes that add to operating cash in the reconciliation. These are net changes, not gross customer receipts. Negative changes are neutral reconciliation adjustments; they do not by themselves identify cash payments. Purple identifies capital transactions such as borrowing, repayments, share issuance and dividends. Free cash flow is a separate comparison, not an added cash flow. Read chart description and values below for full signed amounts, including zero items.Net income → Net cash from operating activities: $513,805,000.00Net income → Operating adjustments reconciliation: $123,887,000.00Income taxes, net → Operating adjustments reconciliation: $157,537,000.00Deferred revenue → Operating adjustments reconciliation: $157,038,000.00Stock-based compensation → Operating adjustments reconciliation: $77,215,000.00Other assets → Operating adjustments reconciliation: $38,082,000.00Depreciation, amortization and other → Operating adjustments reconciliation: $15,614,000.00Other liabilities → Operating adjustments reconciliation: $5,571,000.00Noncash lease expense → Operating adjustments reconciliation: $4,580,000.00Operating adjustments reconciliation → Accounts payable: $207,234,000.00Operating adjustments reconciliation → Accrued liabilities: $136,554,000.00Operating adjustments reconciliation → Inventories: $80,024,000.00Operating adjustments reconciliation → Deferred income taxes: $77,822,000.00Operating adjustments reconciliation → Accounts receivable, net: $65,472,000.00Operating adjustments reconciliation → Amortization (accretion) of investment premiums (discounts): $12,418,000.00Proceeds from maturities of marketable securities → investing reconciliation: $590,436,000.00Proceeds from sale of marketable securities → investing reconciliation: $36,750,000.00investing reconciliation → Purchases of marketable securities: $912,441,000.00investing reconciliation → Purchases of property and equipment: $9,395,000.00investing reconciliation → Investments in notes and privately-held companies: $1,000,000.00Net cash used in financing activities → financing reconciliation: $63,050,000.00Proceeds from issuance of common stock under equity plans → financing reconciliation: $25,144,000.00financing reconciliation → Repurchases of common stock: $62,653,000.00financing reconciliation → Tax withholding paid on behalf of employees for net share settlement: $25,541,000.00Net cash used in investing activities → investing reconciliation: $295,650,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $1,939,464,000.00Net cash from operating activities → Cash sources and uses: $513,805,000.00Cash sources and uses → Exchange-rate effect: $1,608,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $2,092,961,000.00Cash sources and uses → Net cash used in investing activities: $295,650,000.00Cash sources and uses → Net cash used in financing activities: $63,050,000.00Deferred revenue: $157,038,000.00Deferred revenue+$157.04 MDepreciation, amortization and other: $15,614,000.00Depreciation & amortization+$15.61 MDeferred income taxes: -$77,822,000.00Deferred income taxes−$77.82 MAccounts receivable, net: -$65,472,000.00Accounts receivable−$65.47 MAccounts payable: -$207,234,000.00Accounts payable−$207.23 MOther assets: $38,082,000.00Other current assets+$38.08 MLoss on strategic investments: $0.00Inventories: -$80,024,000.00Inventories−$80.02 MStock-based compensation: $77,215,000.00Stock-based compensation+$77.22 MNet income: $637,692,000.00Net income+$637.69 MOther liabilities: $5,571,000.00Other operating liabilities+$5.57 MAccrued liabilities: -$136,554,000.00Accrued liabilities−$136.55 MAmortization (accretion) of investment premiums (discounts): -$12,418,000.00Securities accretion, net−$12.42 MNoncash lease expense: $4,580,000.00Noncash lease expense+$4.58 MIncome taxes, net: $157,537,000.00Income tax balances+$157.54 MNet cash from operating activities: $513,805,000.00Operating cash+$513.81 MOperating adjustments reconciliation: $579,524,000.00Proceeds from issuance of common stock under equity plans: $25,144,000.00Employee stock plans & options+$25.14 MTax withholding paid on behalf of employees for net share settlement: -$25,541,000.00Stock-award tax withholding−$25.54 MRepurchases of common stock: -$62,653,000.00Common stock repurchases−$62.65 MNet cash used in financing activities: -$63,050,000.00. Cash required to fund net payments.Financing cash−$63.05 Mfinancing reconciliation: $88,194,000.00Proceeds from sale of marketable securities: $36,750,000.00AFS securities sales+$36.75 MPurchases of property and equipment: -$9,395,000.00PP&E purchases−$9.40 MPurchases of marketable securities: -$912,441,000.00Marketable securities purchases−$912.44 MProceeds from maturities of marketable securities: $590,436,000.00Marketable securities proceeds+$590.44 MInvestments in notes and privately-held companies: -$1,000,000.00Investments in notes and privately-held companies−$1.00 MNet cash used in investing activities: -$295,650,000.00. Cash required to fund net payments.Investing cash−$295.65 Minvesting reconciliation: $922,836,000.00Cash sources and uses: $2,453,269,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $1,939,464,000.00Beginning cash$1.94 BEnding cash: Cash, cash equivalents, and restricted cash: $2,092,961,000.00Ending cash$2.09 BExchange-rate effect: -$1,608,000.00FX effect−$1.61 MCASH RECONCILIATIONOperatingflowsInvestingflowsFinancingflowsFree cash flow$504.41 MOperating cash − cash spent on PP&ECash flow / Net income0.81×Operating cash flow ÷ net incomeNet cash change+$153.50 MEnding cash − beginning cash
Chart details

Arista Networks, Inc. cash flow reconciliation, Jan 1, 2024 through Mar 31, 2024

Cash flows for Jan 1, 2024 through Mar 31, 2024. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Dec 31, 2023. Ending cash: Mar 31, 2024. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Dec 31, 2023
1,939,464,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
513,805,000 US dollars. Net cash provided.
Net income
637,692,000 US dollars
Deferred revenue
157,038,000 US dollars
Depreciation, amortization and other
15,614,000 US dollars
Deferred income taxes
negative 77,822,000 US dollars
Accounts receivable, net
negative 65,472,000 US dollars
Accounts payable
negative 207,234,000 US dollars
Other assets
38,082,000 US dollars
Loss on strategic investments
0 US dollars
Inventories
negative 80,024,000 US dollars
Stock-based compensation
77,215,000 US dollars
Other liabilities
5,571,000 US dollars
Accrued liabilities
negative 136,554,000 US dollars
Amortization (accretion) of investment premiums (discounts)
negative 12,418,000 US dollars
Noncash lease expense
4,580,000 US dollars
Income taxes, net
157,537,000 US dollars
Investing activities
negative 295,650,000 US dollars. Net cash used.
Proceeds from sale of marketable securities
36,750,000 US dollars
Purchases of property and equipment
negative 9,395,000 US dollars
Purchases of marketable securities
negative 912,441,000 US dollars
Proceeds from maturities of marketable securities
590,436,000 US dollars
Investments in notes and privately-held companies
negative 1,000,000 US dollars
Financing activities
negative 63,050,000 US dollars. Net cash used.
Proceeds from issuance of common stock under equity plans
25,144,000 US dollars
Tax withholding paid on behalf of employees for net share settlement
negative 25,541,000 US dollars
Repurchases of common stock
negative 62,653,000 US dollars
Operating adjustment reconciliation
579,524,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
financing gross reconciliation
88,194,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
investing gross reconciliation
922,836,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
Exchange-rate effect
negative 1,608,000 US dollars
Ending cash on Mar 31, 2024
2,092,961,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
2,453,269,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
153,497,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
0.81×. Operating cash flow divided by reconciliation net income for the same period. Black from 0.90× through 1.10×; green above 1.10×; red below 0.90×. Color uses the unrounded ratio.
Operating cash flow
513,805,000 US dollars. Operating cash flow used in the free cash flow calculation.
Cash purchases of property, plant and equipment
9,395,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
504,410,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.

Chart connections

  • Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
  • Financing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Investing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Operating reconciliation adjustments are not all independent cash receipts.
  • Net income exceeds operating cash. The diagram allocates $513.81M of net income directly to operating cash and $123.89M to the adjustment junction, where it combines with other additions to reconcile deductions. This is an accounting presentation, not a tracing of cash receipts.
  • Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
  • The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
  • Operating cash flow minus cash purchases of property, plant and equipment equals free cash flow: 513,805,000 US dollars minus 9,395,000 US dollars equals 504,410,000 US dollars.
Arista Networks, Inc. (ANET) FY2024 Q1 Statement of Cash Flows Sankey chart
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