The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
KLA Corp., consolidated cash flow statement
US$ in thousands
12 months ended:
Jun 30, 2024
Jun 30, 2023
Jun 30, 2022
Jun 30, 2021
Jun 30, 2020
Jun 30, 2019
Net income
2,761,896)
3,387,351)
3,322,060)
2,077,353)
1,215,025)
1,175,017)
Impairment of goodwill and purchased intangible assets
289,474)
9,905)
5,962)
842)
269,990)
221)
Depreciation and amortization
401,730)
415,113)
363,344)
333,335)
348,049)
233,224)
Loss on extinguishment of debt
—)
13,286)
—)
—)
22,538)
—)
Unrealized foreign exchange (gain) loss and other
(12,533)
(17,825)
46,531)
(19,441)
13,860)
3,830)
Asset impairment charges
11,307)
—)
—)
—)
—)
—)
Disposal of non-controlling interest
—)
8,270)
—)
—)
—)
—)
Stock-based compensation expense
212,695)
171,424)
126,918)
111,836)
111,381)
94,194)
Gain on sale of business
—)
(29,687)
—)
(4,422)
—)
—)
Deferred income taxes
(155,228)
(298,145)
(329,501)
(44,445)
(93,110)
(27,511)
Gain on fair value adjustment of marketable equity securities
—)
—)
—)
(26,719)
—)
—)
Settlement of treasury lock agreement
415)
—)
82,799)
—)
(21,518)
—)
Accounts receivable
(80,894)
(48,534)
(510,326)
(203,155)
(118,362)
(146,151)
Inventories
(164,092)
(749,047)
(567,003)
(270,100)
(74,817)
(59,561)
Other assets
(289,509)
(121,018)
(217,070)
(96,218)
(11,147)
(47,123)
Accounts payable
24,976)
(144,661)
101,632)
79,366)
61,144)
(21,627)
Deferred system revenue
334,136)
150,750)
213,368)
(44,674)
57,687)
(15,674)
Deferred service revenue
203,106)
88,223)
129,718)
45,845)
22,779)
15,064)
Other liabilities
(228,904)
834,400)
544,270)
245,623)
(24,649)
(51,271)
Changes in assets and liabilities, net of assets acquired and liabilities assumed in business acquisitions
(201,181)
10,113)
(305,411)
(243,313)
(87,365)
(326,343)
Adjustments to reconcile net income to net cash provided by operating activities
546,679)
282,454)
(9,358)
107,673)
563,825)
(22,385)
Net cash provided by operating activities
3,308,575)
3,669,805)
3,312,702)
2,185,026)
1,778,850)
1,152,632)
Acquisition of non-marketable securities
—)
—)
—)
—)
—)
(630)
Proceeds from sale of assets
5,079)
—)
27,658)
1,855)
—)
—)
Net proceeds from sale of business
—)
75,358)
—)
16,833)
—)
—)
Business acquisitions, net of cash acquired
(3,682)
(27,144)
(479,113)
—)
(90,143)
(1,818,283)
Capital expenditures
(277,384)
(341,591)
(307,320)
(231,628)
(152,675)
(130,498)
Purchases of available-for-sale securities
(2,756,987)
(1,441,933)
(987,660)
(1,018,744)
(798,493)
(81,533)
Proceeds from sale of available-for-sale securities
107,773)
124,620)
113,538)
145,533)
148,969)
256,395)
Proceeds from maturity of available-for-sale securities
1,459,864)
1,134,182)
760,548)
581,679)
626,943)
589,324)
Purchases of trading securities
(134,098)
(96,611)
(121,254)
(107,867)
(110,241)
(81,022)
Proceeds from sale of trading securities
121,020)
89,528)
116,350)
111,321)
115,680)
85,265)
Proceeds from other investments
1,430)
1,020)
795)
614)
1,086)
—)
Net cash used in investing activities
(1,476,985)
(482,571)
(876,458)
(500,404)
(258,874)
(1,180,982)
Payment of debt issuance costs
—)
(6,515)
—)
—)
—)
—)
Proceeds from issuance of debt, net of issuance costs
735,043)
—)
2,967,409)
40,343)
741,832)
1,183,785)
Proceeds from revolving credit facility, net of costs
—)
300,000)
875,000)
—)
450,000)
900,000)
Repayment of debt
—)
(1,087,250)
(620,000)
(70,000)
(1,171,033)
(902,474)
Common stock repurchases
(1,735,746)
(1,311,864)
(3,967,806)
(938,607)
(829,084)
(1,095,202)
Forward contract for accelerated share repurchases
—)
—)
(900,000)
—)
—)
—)
Payment of dividends to stockholders
(773,041)
(732,556)
(638,528)
(559,353)
(522,421)
(472,263)
Payment of dividends to subsidiary’s non-controlling interest holders
—)
—)
(602)
—)
(1,239)
—)
Issuance of common stock
144,934)
124,847)
113,014)
86,098)
75,634)
64,828)
Tax withholding payments related to vested and released restricted stock units
(143,024)
(94,806)
(84,371)
(56,362)
(46,260)
(37,517)
Contingent consideration payable and other, net
(4,183)
(17,850)
(1,121)
—)
2,936)
(1,162)
Purchase of non-controlling interest
—)
(4,295)
—)
—)
—)
—)
Net cash used in financing activities
(1,776,017)
(2,830,289)
(2,257,005)
(1,497,881)
(1,299,635)
(360,005)
Effect of exchange rate changes on cash and cash equivalents
(6,309)
(13,988)
(28,941)
13,460)
(1,926)
(33)
Net increase (decrease) in cash and cash equivalents
Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.
KLA Corp. net cash provided by operating activities increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.
Net cash used in investing activities
Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.
KLA Corp. net cash used in investing activities increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.
Net cash used in financing activities
Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.
KLA Corp. net cash used in financing activities decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.
