RAMBUS INC. (RMBS) FY2023 Annual Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2023-01-01 to 2023-12-31

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RAMBUS INC. cash flow reconciliation, Jan 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. 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 (loss) → Net cash from operating activities: $195,786,000.00Net income (loss) → Operating adjustments reconciliation: $138,118,000.00Unbilled receivables → Operating adjustments reconciliation: $93,796,000.00Income taxes payable → Operating adjustments reconciliation: $59,643,000.00Stock-based compensation → Operating adjustments reconciliation: $45,011,000.00Depreciation → Operating adjustments reconciliation: $33,687,000.00Amortization of intangible assets → Operating adjustments reconciliation: $14,741,000.00Impairment of assets → Operating adjustments reconciliation: $10,045,000.00Change in fair value of earn-out liability → Operating adjustments reconciliation: $9,234,000.00Prepaid expenses and other assets → Operating adjustments reconciliation: $2,763,000.00Other → Operating adjustments reconciliation: $645,000.00Loss on fair value adjustment of derivatives, net → Operating adjustments reconciliation: $240,000.00Accrued salaries and benefits and other liabilities → Operating adjustments reconciliation: $41,000.00Non-cash interest expense and amortization of convertible debt issuance costs → Operating adjustments reconciliation: $3,000.00Operating adjustments reconciliation → Deferred income taxes: $145,350,000.00Operating adjustments reconciliation → Gain on divestiture: $90,784,000.00Operating adjustments reconciliation → Income taxes receivable: $87,704,000.00Operating adjustments reconciliation → Accounts receivable: $28,931,000.00Operating adjustments reconciliation → Gain on sale of non-marketable equity security: $23,924,000.00Operating adjustments reconciliation → Inventories: $15,254,000.00Operating adjustments reconciliation → Accounts payable: $5,768,000.00Operating adjustments reconciliation → Operating lease liabilities: $5,204,000.00Operating adjustments reconciliation → Deferred revenue: $5,048,000.00Maturities of marketable securities → investing reconciliation: $175,854,000.00Proceeds from sale of marketable securities → investing reconciliation: $117,798,000.00Proceeds from divestiture → investing reconciliation: $106,347,000.00investing reconciliation → Purchases of marketable securities: $434,155,000.00investing reconciliation → Purchases of property, plant and equipment: $23,240,000.00Net cash used in financing activities → financing reconciliation: $169,623,000.00Proceeds received from issuance of common stock under employee stock plans → financing reconciliation: $8,950,000.00financing reconciliation → Repurchase and retirement of common stock, including prepayment under accelerated share repurchase program: $100,525,000.00financing reconciliation → Payments of taxes on restricted stock units: $38,328,000.00financing reconciliation → Payments under installment payment arrangements: $16,192,000.00financing reconciliation → Payments for settlement of warrants: $10,697,000.00financing reconciliation → Payments for settlement and repurchase of convertible senior notes: $10,381,000.00financing reconciliation → Payment of deferred purchase consideration from acquisition: $2,450,000.00Net cash used in investing activities → investing reconciliation: $57,396,000.00Exchange-rate effect → Cash sources and uses: $306,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $125,694,000.00Net cash from operating activities → Cash sources and uses: $195,786,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $94,767,000.00Cash sources and uses → Net cash used in investing activities: $57,396,000.00Cash sources and uses → Net cash used in financing activities: $169,623,000.00Net income (loss): $333,904,000.00Net income (loss)+$333.90 MStock-based compensation: $45,011,000.00Stock-based compensation+$45.01 MDepreciation: $33,687,000.00Operating lease amortization+$33.69 MAmortization of intangible assets: $14,741,000.00Intangible amortization+$14.74 MNon-cash interest expense and amortization of convertible debt issuance costs: $3,000.00Debt cost amortization+$3.00 KLoss on extinguishment of debt: $0.00Loss on fair value adjustment of derivatives, net: $240,000.00Derivative gain & loss, net+$240.00 KDeferred income taxes: -$145,350,000.00Deferred income taxes−$145.35 MGain on divestiture: -$90,784,000.00Disposal group gain & loss−$90.78 MGain on sale of non-marketable equity security: -$23,924,000.00Gain on sale of non-marketable equity security−$23.92 MImpairment of assets: $10,045,000.00Other asset impairments+$10.05 MGain on sale of equity security: $0.00Change in fair value of earn-out liability: $9,234,000.00Contingent consideration change+$9.23 MOther: $645,000.00Other operating, net+$645.00 KAccounts receivable: -$28,931,000.00Accounts receivable−$28.93 MUnbilled receivables: $93,796,000.00Contract assets+$93.80 MPrepaid expenses and other assets: $2,763,000.00Prepaid & other assets+$2.76 MInventories: -$15,254,000.00Inventories−$15.25 MIncome taxes receivable: -$87,704,000.00Income taxes receivable−$87.70 MAccounts payable: -$5,768,000.00Accounts payable−$5.77 MAccrued salaries and benefits and other liabilities: $41,000.00Other operating liabilities+$41.00 KIncome taxes payable: $59,643,000.00Income taxes payable+$59.64 MDeferred revenue: -$5,048,000.00Unearned revenue−$5.05 MOperating lease liabilities: -$5,204,000.00Operating lease liabilities−$5.20 MNet cash from operating activities: $195,786,000.00Operating cash+$195.79 MOperating adjustments reconciliation: $407,967,000.00Proceeds received from issuance of common stock under employee stock plans: $8,950,000.00Employee stock plans & options+$8.95 MRepurchase and retirement of common stock, including prepayment under accelerated share repurchase program: -$100,525,000.00Common stock repurchases−$100.53 MProceeds from retirement of convertible senior note hedges: $0.00Payments under installment payment arrangements: -$16,192,000.00Installment payments−$16.19 MPayments of taxes on restricted stock units: -$38,328,000.00Stock-award tax withholding−$38.33 MPayments for settlement and repurchase of convertible senior notes: -$10,381,000.00Senior debt repaid−$10.38 MPayments for settlement of warrants: -$10,697,000.00Payments for settlement of warrants−$10.70 MPayment of deferred purchase consideration from acquisition: -$2,450,000.00Payment of deferred purchase consideration fromacquisition−$2.45 MNet cash used in financing activities: -$169,623,000.00. Cash required to fund net payments.Financing cash−$169.62 Mfinancing reconciliation: $178,573,000.00Purchases of property, plant and equipment: -$23,240,000.00PP&E purchases−$23.24 MAcquisition of intangible assets: $0.00Purchases of marketable securities: -$434,155,000.00AFS securities purchases−$434.16 MMaturities of marketable securities: $175,854,000.00AFS securities maturities+$175.85 MProceeds from sale of marketable securities: $117,798,000.00AFS securities sales+$117.80 MProceeds from divestiture: $106,347,000.00Business sales, net of cash+$106.35 MProceeds from sale of equity security: $0.00Acquisition of businesses, net of cash acquired: $0.00Net cash used in investing activities: -$57,396,000.00. Cash required to fund net payments.Investing cash−$57.40 Minvesting reconciliation: $457,395,000.00Cash sources and uses: $321,786,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $125,694,000.00Beginning cash$125.69 MEnding cash: Cash, cash equivalents, and restricted cash: $94,767,000.00Ending cash$94.77 MExchange-rate effect: $306,000.00FX effect+$306.00 KCASH RECONCILIATIONOperatingflowsInvestingflowsFinancingflowsFree cash flow$172.55 MOperating cash − cash spent on PP&ECash flow / Net income0.59×Operating cash flow ÷ net incomeNet cash change−$30.93 MEnding cash − beginning cash
Chart details

RAMBUS INC. cash flow reconciliation, Jan 1, 2023 through Dec 31, 2023

Cash flows for Jan 1, 2023 through Dec 31, 2023. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Dec 31, 2022. 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 Dec 31, 2022
125,694,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
195,786,000 US dollars. Net cash provided.
Net income (loss)
333,904,000 US dollars
Stock-based compensation
45,011,000 US dollars
Depreciation
33,687,000 US dollars
Amortization of intangible assets
14,741,000 US dollars
Non-cash interest expense and amortization of convertible debt issuance costs
3,000 US dollars
Loss on extinguishment of debt
0 US dollars
Loss on fair value adjustment of derivatives, net
240,000 US dollars
Deferred income taxes
negative 145,350,000 US dollars
Gain on divestiture
negative 90,784,000 US dollars
Gain on sale of non-marketable equity security
negative 23,924,000 US dollars
Impairment of assets
10,045,000 US dollars
Gain on sale of equity security
0 US dollars
Change in fair value of earn-out liability
9,234,000 US dollars
Other
645,000 US dollars
Accounts receivable
negative 28,931,000 US dollars
Unbilled receivables
93,796,000 US dollars
Prepaid expenses and other assets
2,763,000 US dollars
Inventories
negative 15,254,000 US dollars
Income taxes receivable
negative 87,704,000 US dollars
Accounts payable
negative 5,768,000 US dollars
Accrued salaries and benefits and other liabilities
41,000 US dollars
Income taxes payable
59,643,000 US dollars
Deferred revenue
negative 5,048,000 US dollars
Operating lease liabilities
negative 5,204,000 US dollars
Investing activities
negative 57,396,000 US dollars. Net cash used.
Purchases of property, plant and equipment
negative 23,240,000 US dollars
Acquisition of intangible assets
0 US dollars
Purchases of marketable securities
negative 434,155,000 US dollars
Maturities of marketable securities
175,854,000 US dollars
Proceeds from sale of marketable securities
117,798,000 US dollars
Proceeds from divestiture
106,347,000 US dollars
Proceeds from sale of equity security
0 US dollars
Acquisition of businesses, net of cash acquired
0 US dollars
Financing activities
negative 169,623,000 US dollars. Net cash used.
Proceeds received from issuance of common stock under employee stock plans
8,950,000 US dollars
Repurchase and retirement of common stock, including prepayment under accelerated share repurchase program
negative 100,525,000 US dollars
Proceeds from retirement of convertible senior note hedges
0 US dollars
Payments under installment payment arrangements
negative 16,192,000 US dollars
Payments of taxes on restricted stock units
negative 38,328,000 US dollars
Payments for settlement and repurchase of convertible senior notes
negative 10,381,000 US dollars
Payments for settlement of warrants
negative 10,697,000 US dollars
Payment of deferred purchase consideration from acquisition
negative 2,450,000 US dollars
Operating adjustment reconciliation
407,967,000 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
178,573,000 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
457,395,000 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
306,000 US dollars
Ending cash on Dec 31, 2023
94,767,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
321,786,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
negative 30,927,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
0.59×. 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
195,786,000 US dollars. Operating cash flow used in the free cash flow calculation.
Cash purchases of property, plant and equipment
23,240,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
172,546,000 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 $195.79M of net income directly to operating cash and $138.12M 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: 195,786,000 US dollars minus 23,240,000 US dollars equals 172,546,000 US dollars.
RAMBUS INC. (RMBS) FY2023 Annual Statement of Cash Flows Sankey chart
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