COHERENT CORP. (COHR) FY2024 Annual Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2023-07-01 to 2024-06-30

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COHERENT CORP. cash flow reconciliation, Jul 1, 2023 through Jun 30, 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.Amortization → operating reconciliation: $288,160,000.00Depreciation → operating reconciliation: $271,601,000.00Accounts payable → operating reconciliation: $205,044,000.00Share-based compensation expense → operating reconciliation: $126,049,000.00Accounts receivable → operating reconciliation: $60,581,000.00Accrued compensation and benefits → operating reconciliation: $36,894,000.00Amortization of discount on convertible debt and debt issuance costs → operating reconciliation: $17,652,000.00Non-cash restructuring charges → operating reconciliation: $16,557,000.00Income taxes → operating reconciliation: $12,251,000.00Loss on debt extinguishment → operating reconciliation: $1,978,000.00Losses on disposals of property, plant & equipment → operating reconciliation: $758,000.00Loss (earnings) from equity investments → operating reconciliation: $51,000.00operating reconciliation → Net cash from operating activities: $545,731,000.00operating reconciliation → Net earnings (loss): $158,764,000.00operating reconciliation → Other operating net assets (liabilities): $114,415,000.00operating reconciliation → Deferred income taxes: $112,096,000.00operating reconciliation → Contract liabilities: $72,818,000.00operating reconciliation → Inventories: $23,196,000.00operating reconciliation → Unrealized losses (gains) on foreign currency remeasurements and transactions: $10,556,000.00Sale of shares to noncontrolling interests → financing reconciliation: $1,000,000,000.00Proceeds from exercises of stock options and purchases of stock under employee stock purchase plan → financing reconciliation: $42,297,000.00Proceeds from borrowings of revolving credit facilities → financing reconciliation: $18,966,000.00financing reconciliation → Net cash from financing activities: $758,272,000.00financing reconciliation → Payments on existing debt: $228,802,000.00financing reconciliation → Equity issuance costs: $31,840,000.00financing reconciliation → Payments in satisfaction of employees’ minimum tax obligations: $22,315,000.00financing reconciliation → Payments on borrowings under Revolving Credit Facilities: $19,027,000.00financing reconciliation → Other financing activities: $1,007,000.00Net cash used in investing activities → investing reconciliation: $350,713,000.00investing reconciliation → Additions to property, plant & equipment: $346,816,000.00investing reconciliation → Other investing activities: $3,897,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $837,566,000.00Net cash from operating activities → Cash sources and uses: $545,731,000.00Net cash from financing activities → Cash sources and uses: $758,272,000.00Cash sources and uses → Exchange-rate effect: $1,170,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $1,789,686,000.00Cash sources and uses → Net cash used in investing activities: $350,713,000.00Accounts receivable: $60,581,000.00Accounts receivable+$60.58 MLosses on disposals of property, plant & equipment: $758,000.00PP&E disposal gain & loss+$758.00 KAmortization: $288,160,000.00Deferred charges amortization+$288.16 MNon-cash restructuring charges: $16,557,000.00Restructuring charges+$16.56 MLoss (earnings) from equity investments: $51,000.00Equity-method results+$51.00 KDepreciation: $271,601,000.00Depreciation expense+$271.60 MAmortization of discount on convertible debt and debt issuance costs: $17,652,000.00Debt cost amortization+$17.65 MAccounts payable: $205,044,000.00Accounts payable+$205.04 MInventories: -$23,196,000.00Inventories−$23.20 MContract liabilities: -$72,818,000.00Deferred revenue−$72.82 MNet earnings (loss): -$158,764,000.00Net earnings (loss)−$158.76 MShare-based compensation expense: $126,049,000.00Stock-based compensation+$126.05 MAccrued compensation and benefits: $36,894,000.00Accrued compensation+$36.89 MUnrealized losses (gains) on foreign currency remeasurements and transactions: -$10,556,000.00FX transaction gain & loss−$10.56 MIncome taxes: $12,251,000.00Income taxes, net+$12.25 MDeferred income taxes: -$112,096,000.00Deferred taxes & credits−$112.10 MOther operating net assets (liabilities): -$114,415,000.00Other working capital, net−$114.42 MLoss on debt extinguishment: $1,978,000.00Debt extinguishment gain & loss+$1.98 MNet cash from operating activities: $545,731,000.00Operating cash+$545.73 Moperating reconciliation: $1,037,576,000.00Payments on existing debt: -$228,802,000.00Senior debt repaid−$228.80 MPayments on borrowings under Revolving Credit Facilities: -$19,027,000.00Long-term credit line repayments−$19.03 MEquity issuance costs: -$31,840,000.00Stock issuance costs−$31.84 MCash dividends paid: $0.00Payment of Finisar Notes: $0.00Debt issuance costs: $0.00Payments in satisfaction of employees’ minimum tax obligations: -$22,315,000.00Stock-award tax withholding−$22.32 MProceeds from issuance of Series B preferred shares: $0.00Sale of shares to noncontrolling interests: $1,000,000,000.00From noncontrolling interests+$1.00 BProceeds from borrowing of Term Facility - Term A Facility: $0.00Proceeds from borrowing of Term Facility - Term B Facility: $0.00Proceeds from borrowings of revolving credit facilities: $18,966,000.00Long-term credit line borrowings+$18.97 MProceeds from issuance of Senior Notes: $0.00Other financing activities: -$1,007,000.00Other financing, net−$1.01 MProceeds from exercises of stock options and purchases of stock under employee stock purchase plan: $42,297,000.00Employee stock plans & options+$42.30 MPayments on convertible notes: $0.00Net cash from financing activities: $758,272,000.00Financing cash+$758.27 Mfinancing reconciliation: $1,061,263,000.00Additions to property, plant & equipment: -$346,816,000.00PP&E purchases−$346.82 MOther investing activities: -$3,897,000.00Other investing, net−$3.90 MPurchases of businesses, net of cash acquired: $0.00Net cash used in investing activities: -$350,713,000.00. Cash required to fund net payments.Investing cash−$350.71 Minvesting reconciliation: $350,713,000.00Cash sources and uses: $2,141,569,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $837,566,000.00Beginning cash$837.57 MEnding cash: Cash, cash equivalents, and restricted cash: $1,789,686,000.00Ending cash$1.79 BExchange-rate effect: -$1,170,000.00FX effect−$1.17 MCASH RECONCILIATIONOperatingflowsFinancingflowsInvestingflowsNet loss −$158.76M + net operating adjustments $704.50M = operating cash +$545.73MFree cash flow$198.92 MOperating cash − cash spent on PP&ECash flow / Net incomeNot meaningfulOperating cash flow ÷ net incomeNet cash change+$952.12 MEnding cash − beginning cash
Chart details

COHERENT CORP. cash flow reconciliation, Jul 1, 2023 through Jun 30, 2024

Cash flows for Jul 1, 2023 through Jun 30, 2024. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Jun 30, 2023. Ending cash: Jun 30, 2024. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Jun 30, 2023
837,566,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
545,731,000 US dollars. Net cash provided.
Accounts receivable
60,581,000 US dollars
Losses on disposals of property, plant & equipment
758,000 US dollars
Amortization
288,160,000 US dollars
Non-cash restructuring charges
16,557,000 US dollars
Loss (earnings) from equity investments
51,000 US dollars
Depreciation
271,601,000 US dollars
Amortization of discount on convertible debt and debt issuance costs
17,652,000 US dollars
Accounts payable
205,044,000 US dollars
Inventories
negative 23,196,000 US dollars
Contract liabilities
negative 72,818,000 US dollars
Net earnings (loss)
negative 158,764,000 US dollars
Share-based compensation expense
126,049,000 US dollars
Accrued compensation and benefits
36,894,000 US dollars
Unrealized losses (gains) on foreign currency remeasurements and transactions
negative 10,556,000 US dollars
Income taxes
12,251,000 US dollars
Deferred income taxes
negative 112,096,000 US dollars
Other operating net assets (liabilities)
negative 114,415,000 US dollars
Loss on debt extinguishment
1,978,000 US dollars
Investing activities
negative 350,713,000 US dollars. Net cash used.
Additions to property, plant & equipment
negative 346,816,000 US dollars
Other investing activities
negative 3,897,000 US dollars
Purchases of businesses, net of cash acquired
0 US dollars
Financing activities
758,272,000 US dollars. Net cash provided.
Payments on existing debt
negative 228,802,000 US dollars
Payments on borrowings under Revolving Credit Facilities
negative 19,027,000 US dollars
Equity issuance costs
negative 31,840,000 US dollars
Cash dividends paid
0 US dollars
Payment of Finisar Notes
0 US dollars
Debt issuance costs
0 US dollars
Payments in satisfaction of employees’ minimum tax obligations
negative 22,315,000 US dollars
Proceeds from issuance of Series B preferred shares
0 US dollars
Sale of shares to noncontrolling interests
1,000,000,000 US dollars
Proceeds from borrowing of Term Facility - Term A Facility
0 US dollars
Proceeds from borrowing of Term Facility - Term B Facility
0 US dollars
Proceeds from borrowings of revolving credit facilities
18,966,000 US dollars
Proceeds from issuance of Senior Notes
0 US dollars
Other financing activities
negative 1,007,000 US dollars
Proceeds from exercises of stock options and purchases of stock under employee stock purchase plan
42,297,000 US dollars
Payments on convertible notes
0 US dollars
Operating adjustment reconciliation
1,037,576,000 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
1,061,263,000 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
350,713,000 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 1,170,000 US dollars
Ending cash on Jun 30, 2024
1,789,686,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
2,141,569,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
952,120,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
Not meaningful. Operating cash flow divided by reconciliation net income for the same period. The ratio is not meaningful when net income is zero or negative.
Operating cash flow
545,731,000 US dollars. Operating cash flow used in the free cash flow calculation.
Cash purchases of property, plant and equipment
346,816,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
198,915,000 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 loss −$158.76M + net operating adjustments $704.50M = operating cash +$545.73M. The loss reduces the earnings basis of the reconciliation; it is not a cash payment. The signed loss remains a deduction at the operating reconciliation junction.
  • 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: 545,731,000 US dollars minus 346,816,000 US dollars equals 198,915,000 US dollars.
COHERENT CORP. (COHR) FY2024 Annual Statement of Cash Flows Sankey chart
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