MICROCHIP TECHNOLOGY INCORPORATED (MCHP) FY2024 Q3 Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2023-10-01 to 2023-12-31

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MICROCHIP TECHNOLOGY INCORPORATED cash flow reconciliation, Oct 1, 2023 through Dec 31, 2023One 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. Calculated remaining financing cash flows are purple; remaining operating and investing bundles are gray. Their underlying inflows and outflows are not separately identified. Net income is green for profit and red for loss. Identified asset purchases, sales and maturities are blue in either cash direction. 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: $419,200,000.00Increase in accounts receivable → Operating adjustments reconciliation: $308,100,000.00Depreciation and amortization → Operating adjustments reconciliation: $219,400,000.00Share-based compensation expense related to equity incentive plans → Operating adjustments reconciliation: $44,800,000.00Decrease (increase) in inventories → Operating adjustments reconciliation: $21,300,000.00Deferred income taxes → Operating adjustments reconciliation: $17,100,000.00Amortization of debt discount → Operating adjustments reconciliation: $14,000,000.00Amortization of debt issuance costs → Operating adjustments reconciliation: $1,700,000.00Impairment of intangible assets → Operating adjustments reconciliation: $200,000.00Operating adjustments reconciliation → Net cash from operating activities: $434,100,000.00Operating adjustments reconciliation → (Decrease) increase in accounts payable and accrued liabilities: $88,000,000.00Operating adjustments reconciliation → Change in income tax payable: $72,400,000.00Operating adjustments reconciliation → Change in other assets and liabilities: $20,500,000.00Operating adjustments reconciliation → Remaining operating cash flows, net (calculated): $11,600,000.00Proceeds from capital-related government incentives → investing reconciliation: $1,100,000.00investing reconciliation → Capital expenditures: $59,500,000.00investing reconciliation → Investments in other assets: $27,800,000.00Net cash used in financing activities → financing reconciliation: $742,700,000.00Proceeds from issuance of Commercial Paper → financing reconciliation: $2,563,300,000.00Proceeds from sale of common stock → financing reconciliation: $17,100,000.00financing reconciliation → Remaining financing cash flows, net (calculated): $2,164,700,000.00financing reconciliation → Proceeds from borrowings on Revolving Credit Facility: $750,000,000.00financing reconciliation → Payment of cash dividends: $237,400,000.00financing reconciliation → Repurchase of common stock: $114,600,000.00financing reconciliation → Proceeds from borrowings on Revolving Credit Facility: $39,000,000.00financing reconciliation → Tax payments related to shares withheld for vested RSUs: $16,500,000.00financing reconciliation → Deferred financing costs: $500,000.00financing reconciliation → Capital lease payments: $400,000.00Net cash used in investing activities → investing reconciliation: $86,200,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $256,600,000.00Net cash from operating activities → Cash sources and uses: $853,300,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $281,000,000.00Cash sources and uses → Net cash used in investing activities: $86,200,000.00Cash sources and uses → Net cash used in financing activities: $742,700,000.00Decrease (increase) in inventories: $21,300,000.00Inventories+$21.30 MLoss on settlement of debt: -$0.00Net income: $419,200,000.00Net income+$419.20 MAmortization of debt discount: $14,000,000.00Discount & premium amortization+$14.00 MAmortization of debt issuance costs: $1,700,000.00Debt issuance cost amortization+$1.70 MDeferred income taxes: $17,100,000.00Deferred income taxes+$17.10 MDepreciation and amortization: $219,400,000.00Depreciation & amortization+$219.40 M(Decrease) increase in accounts payable and accrued liabilities: -$88,000,000.00Payables & accrued liabilities−$88.00 MIncrease in accounts receivable: $308,100,000.00Accounts receivable+$308.10 MShare-based compensation expense related to equity incentive plans: $44,800,000.00Stock-based compensation+$44.80 MImpairment of intangible assets: $200,000.00Intangible impairments+$200.00 KChange in other assets and liabilities: -$20,500,000.00Other working capital, net−$20.50 MChange in income tax payable: -$72,400,000.00Income taxes payable−$72.40 MRemaining operating cash flows, net (calculated): -$11,600,000.00Remaining operating (calculated)−$11.60 MNet cash from operating activities: $853,300,000.00Operating cash+$853.30 MOperating adjustments reconciliation: $626,600,000.00Deferred financing costs: -$500,000.00Financing costs paid−$500.00 KProceeds from borrowings on Revolving Credit Facility: -$39,000,000.00Credit line repayments−$39.00 MRepurchase of common stock: -$114,600,000.00Common stock repurchases−$114.60 MRepayment of senior notes: -$0.00Tax payments related to shares withheld for vested RSUs: -$16,500,000.00Stock-award tax withholding−$16.50 MProceeds from issuance of Commercial Paper: $2,563,300,000.00Commercial paper issued+$2.56 BProceeds from sale of common stock: $17,100,000.00Common stock issued+$17.10 MProceeds from borrowings on Revolving Credit Facility: -$750,000,000.00Credit line borrowings−$750.00 MCapital lease payments: -$400,000.00Finance lease payments−$400.00 KPayment of cash dividends: -$237,400,000.00Ordinary dividends paid−$237.40 MPayments on settlement of convertible debt: -$0.00Remaining financing cash flows, net (calculated): -$2,164,700,000.00Remaining financing (calculated)−$2.16 BNet cash used in financing activities: -$742,700,000.00. Cash required to fund net payments.Financing cash−$742.70 Mfinancing reconciliation: $3,323,100,000.00Proceeds from sales of assets: $0.00Capital expenditures: -$59,500,000.00PP&E purchases−$59.50 MInvestments in other assets: -$27,800,000.00Other capital spending−$27.80 MProceeds from capital-related government incentives: $1,100,000.00Capital incentives received+$1.10 MNet cash used in investing activities: -$86,200,000.00. Cash required to fund net payments.Investing cash−$86.20 Minvesting reconciliation: $87,300,000.00Cash sources and uses: $1,109,900,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $256,600,000.00Beginning cash$256.60 MEnding cash: Cash, cash equivalents, and restricted cash: $281,000,000.00Ending cash$281.00 MCASH RECONCILIATIONOperatingflowsInvestingflowsFinancingflowsFree cash flow$793.80 MOperating cash − cash spent on PP&ECash flow / Net income2.04×Operating cash flow ÷ net incomeNet cash change+$24.40 MEnding cash − beginning cash
Chart details

MICROCHIP TECHNOLOGY INCORPORATED cash flow reconciliation, Oct 1, 2023 through Dec 31, 2023

Cash flows for Oct 1, 2023 through Dec 31, 2023. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Sep 30, 2023. Ending cash: Dec 31, 2023. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Sep 30, 2023
256,600,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
853,300,000 US dollars. Net cash provided. The remaining amount is calculated by subtracting the other displayed items from the operating total. This quarter is the year to date less the prior quarter's year to date. The prior quarter reported part of this section under different lines (Other non-cash adjustment), so Other cannot be separated for this quarter. It may combine inflows and outflows.
Net income
419,200,000 US dollars
Decrease (increase) in inventories
21,300,000 US dollars
Loss on settlement of debt
0 US dollars
Amortization of debt discount
14,000,000 US dollars
Amortization of debt issuance costs
1,700,000 US dollars
Deferred income taxes
17,100,000 US dollars
Depreciation and amortization
219,400,000 US dollars
(Decrease) increase in accounts payable and accrued liabilities
negative 88,000,000 US dollars
Increase in accounts receivable
308,100,000 US dollars
Share-based compensation expense related to equity incentive plans
44,800,000 US dollars
Impairment of intangible assets
200,000 US dollars
Change in other assets and liabilities
negative 20,500,000 US dollars
Change in income tax payable
negative 72,400,000 US dollars
Remaining operating cash flows, net (calculated)
negative 11,600,000 US dollars
Investing activities
negative 86,200,000 US dollars. Net cash used.
Proceeds from sales of assets
0 US dollars
Capital expenditures
negative 59,500,000 US dollars
Investments in other assets
negative 27,800,000 US dollars
Proceeds from capital-related government incentives
1,100,000 US dollars
Financing activities
negative 742,700,000 US dollars. Net cash used. The remaining amount is calculated by subtracting the other displayed items from the financing total. This quarter is the year to date less the prior quarter's year to date. The prior quarter reported part of this section under different lines (Proceeds from lines of credit and Repayments of line of credit), so Proceeds from borrowings on 2025 Term Loan Facility and Repayments of Commercial Paper cannot be separated for this quarter. It may combine inflows and outflows.
Deferred financing costs
negative 500,000 US dollars
Proceeds from borrowings on Revolving Credit Facility
negative 39,000,000 US dollars
Repurchase of common stock
negative 114,600,000 US dollars
Repayment of senior notes
0 US dollars
Tax payments related to shares withheld for vested RSUs
negative 16,500,000 US dollars
Proceeds from issuance of Commercial Paper
2,563,300,000 US dollars
Proceeds from sale of common stock
17,100,000 US dollars
Proceeds from borrowings on Revolving Credit Facility
negative 750,000,000 US dollars
Capital lease payments
negative 400,000 US dollars
Payment of cash dividends
negative 237,400,000 US dollars
Payments on settlement of convertible debt
0 US dollars
Remaining financing cash flows, net (calculated)
negative 2,164,700,000 US dollars
Operating adjustment reconciliation
626,600,000 US dollars. Intermediate calculation joining the displayed items and the calculated net remainder. It does not establish gross cash receipts or payments and is not an additional cash flow.
financing displayed reconciliation
3,323,100,000 US dollars. Intermediate calculation joining the displayed items and the calculated net remainder. It does not establish gross cash receipts or payments and is not an additional cash flow.
investing gross reconciliation
87,300,000 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
0 US dollars
Ending cash on Dec 31, 2023
281,000,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
1,109,900,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
24,400,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
2.04×. 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
853,300,000 US dollars. Operating cash flow used in the free cash flow calculation.
Cash purchases of property, plant and equipment
59,500,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
793,800,000 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 enters operating cash directly in the reconciliation. The adjustment junction contributes the remaining $434.10M after reconciling the other positive and negative adjustments. These connections depict an accounting reconciliation, not traced 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: 853,300,000 US dollars minus 59,500,000 US dollars equals 793,800,000 US dollars.
MICROCHIP TECHNOLOGY INCORPORATED (MCHP) FY2024 Q3 Statement of Cash Flows Sankey chart
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