Cash Flow Statement

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.

Super Micro Computer Inc., consolidated cash flow statement

US$ in thousands

12 months ended:	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021	Jun 30, 2020	Jun 30, 2019	Jun 30, 2018
Net income	639,998)	285,163)	111,865)	84,308)	71,918)	46,165)
Depreciation and amortization	34,904)	32,471)	28,185)	28,472)	24,202)	21,846)
Stock-based compensation expense	54,433)	32,816)	28,549)	20,189)	21,184)	24,656)
Impairment of investments	—)	—)	—)	—)	2,661)	—)
Share of (income) loss from equity investee	3,633)	(1,206)	(173)	(2,402)	2,721)	3,607)
Foreign currency exchange (gain) loss	(2,619)	(13,747)	2,482)	1,008)	(313)	171)
Deferred income taxes, net	(92,969)	(6,817)	(8,390)	(13,772)	(17,100)	13,570)
Other	(668)	368)	(1,044)	1,364)	733)	909)
Accounts receivable, net	(311,897)	(372,438)	(60,145)	(10,104)	92,085)	(127,178)
Inventories	100,042)	(504,642)	(189,466)	(181,310)	152,260)	(116,583)
Prepaid expenses and other assets	8,313)	(28,794)	(5,291)	(29,869)	8,410)	(15,714)
Accounts payable	127,135)	50,145)	189,309)	59,889)	(173,410)	132,533)
Income taxes payable	87,423)	29,002)	8,041)	(8,321)	5,831)	5,827)
Accrued liabilities	(50,311)	35,891)	24,705)	27,865)	11,456)	23,238)
Deferred revenue	70,587)	31,544)	(1,452)	350)	59,800)	67,775)
Other long-term liabilities	(4,424)	(10,557)	(4,220)	(8,001)	116)	3,525)
Changes in operating assets and liabilities	26,868)	(769,849)	(38,519)	(149,501)	156,548)	(26,577)
Reconciliation of net income to net cash provided by (used in) operating activities	23,582)	(725,964)	11,090)	(114,642)	190,636)	38,182)
Net cash provided by (used in) operating activities	663,580)	(440,801)	122,955)	(30,334)	262,554)	84,347)
Purchases of property, plant and equipment	(36,793)	(45,182)	(58,016)	(44,338)	(24,849)	(24,824)
Proceeds from redemption of auction rate security	—)	—)	—)	—)	—)	1,000)
Investment in a privately-held company	(500)	(1,100)	—)	—)	—)	(2,100)
Acquisition, net of cash acquired	(2,193)	—)	—)	—)	—)	—)
Proceeds from sale of investment in a privately-held company	—)	—)	—)	750)	—)	—)
Net cash used in investing activities	(39,486)	(46,282)	(58,016)	(43,588)	(24,849)	(25,924)
Proceeds from borrowings	1,093,860)	1,153,317)	127,059)	164,791)	41,760)	107,337)
Repayment of debt	(1,394,391)	(640,695)	(60,629)	(159,191)	(67,700)	(220,299)
Net borrowings (repayment) on asset-backed revolving line of credit, net of costs	—)	—)	—)	(1,116)	(65,945)	64,226)
Payment of other fees for debt financing	—)	(592)	(561)	(650)	(625)	(414)
Proceeds from exercise of stock options, net of taxes	30,466)	20,994)	28,387)	28,343)	—)	3,043)
Changes in obligations under capital leases	(33)	(72)	25)	(138)	(267)	(253)
Payment of withholding tax on vesting of restricted stock units	(28,197)	(10,081)	(8,721)	(8,243)	(3,051)	(4,472)
Stock repurchases	(149,998)	—)	(130,000)	—)	—)	—)
Net cash provided by (used in) financing activities	(448,293)	522,871)	(44,440)	23,796)	(95,828)	(50,832)
Effect of exchange rate fluctuations on cash	(3,400)	(678)	560)	376)	(119)	(6)
Net increase (decrease) in cash, cash equivalents and restricted cash	172,401)	35,110)	21,059)	(49,750)	141,758)	7,585)
Cash, cash equivalents and restricted cash at beginning of year	268,559)	233,449)	212,390)	262,140)	120,382)	112,797)
Cash, cash equivalents and restricted cash at end of year	440,960)	268,559)	233,449)	212,390)	262,140)	120,382)

Based on: 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30).

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Cash flow statement item	Description	The company
Net cash provided by (used in) operating activities	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.	Super Micro Computer Inc. net cash provided by (used in) operating activities decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.
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.	Super Micro Computer Inc. net cash used in investing activities increased from 2021 to 2022 and from 2022 to 2023.
Net cash provided by (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.	Super Micro Computer Inc. net cash provided by (used in) financing activities increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.

Super Micro Computer Inc. (NASDAQ:SMCI)

Cash Flow Statement