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.

Amphenol Corp., consolidated cash flow statement

US$ in thousands

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income from continuing operations	1,945,500)	1,916,800)	1,580,100)	1,213,300)	1,164,000)
Depreciation and amortization	406,400)	392,900)	395,600)	308,100)	312,100)
Stock-based compensation expense	99,000)	89,500)	83,000)	70,500)	63,000)
Loss on early extinguishment of debt	—)	—)	—)	—)	14,300)
Deferred income tax provision (benefit)	(58,800)	(4,700)	(29,600)	30,800)	15,200)
Gain on bargain purchase acquisition	(5,400)	—)	—)	—)	—)
Accounts receivable, net	146,400)	(273,100)	(398,400)	(146,300)	117,300)
Inventories	71,400)	(278,500)	(263,000)	(102,000)	(3,400)
Prepaid expenses and other current assets	(34,100)	49,700)	(20,200)	(88,600)	(6,000)
Accounts payable	(34,600)	62,500)	131,700)	204,300)	(60,200)
Accrued income taxes	7,700)	77,600)	(6,900)	(54,800)	(91,700)
Other accrued liabilities	(7,000)	168,700)	60,400)	148,500)	(37,600)
Accrued pension and postretirement benefits	(300)	(400)	5,800)	9,400)	7,200)
Other long-term assets and liabilities	(7,500)	(26,400)	(14,600)	(1,200)	8,100)
Net change in operating assets and liabilities, excluding effects of acquisitions	142,000)	(219,900)	(505,200)	(30,700)	(66,300)
Adjustments to reconcile net income from continuing operations to net cash provided by operating activities	583,200)	257,800)	(56,200)	378,700)	338,300)
Net cash provided by operating activities	2,528,700)	2,174,600)	1,523,900)	1,592,000)	1,502,300)
Capital expenditures	(372,800)	(383,800)	(360,400)	(276,800)	(295,000)
Proceeds from disposals of property, plant and equipment	4,000)	5,600)	3,700)	12,700)	7,400)
Purchases of investments	(305,700)	(309,400)	(164,500)	(141,600)	(65,400)
Sales and maturities of investments	246,300)	228,200)	155,900)	123,200)	61,600)
Acquisitions, net of cash acquired	(970,400)	(288,200)	(2,225,400)	(50,400)	(937,400)
Other, net	4,900)	16,500)	(13,700)	(600)	—)
Net cash used in investing activities	(1,393,700)	(731,100)	(2,604,400)	(333,500)	(1,228,800)
Proceeds from issuance of senior notes and other long-term debt	354,900)	5,800)	752,100)	942,300)	1,398,800)
Repayments of senior notes and other long-term debt	(15,700)	(10,300)	(912,600)	(404,400)	(1,111,500)
Borrowings under credit facilities	—)	—)	—)	1,567,400)	—)
Repayments under credit facilities	—)	—)	—)	(1,568,100)	—)
Proceeds from short-term borrowings	—)	44,900)	—)	—)	—)
Repayments of short-term borrowings	—)	(44,900)	—)	—)	—)
Borrowings (repayments) under commercial paper programs, net	(632,600)	(159,300)	796,300)	(385,800)	(229,000)
Payment of costs related to debt financing	(2,300)	(400)	(9,300)	(8,700)	(14,900)
Payment of premiums and fees related to early extinguishment of debt	—)	—)	—)	—)	(13,400)
Payment of acquisition-related contingent consideration	—)	—)	—)	(75,000)	—)
Payment of deferred purchase price related to acquisitions	(1,500)	—)	(4,100)	(16,200)	—)
Purchase of treasury stock	(585,100)	(730,500)	(661,700)	(641,300)	(601,700)
Proceeds from exercise of stock options	394,500)	185,300)	288,500)	385,700)	246,100)
Distributions to and purchases of noncontrolling interests	(24,000)	(9,900)	(18,900)	(14,900)	(43,300)
Dividend payments	(500,600)	(477,400)	(346,700)	(297,600)	(279,500)
Transfers to discontinued operations	—)	—)	(28,700)	—)	—)
Net cash used in financing activities	(1,012,400)	(1,196,700)	(145,100)	(516,600)	(648,400)
Net cash provided by operating activities from discontinued operations	—)	—)	16,200)	—)	—)
Net cash provided by investing activities from discontinued operations	—)	—)	716,900)	—)	—)
Net cash used in financing activities from discontinued operations	—)	—)	(100)	—)	—)
Net cash provided by discontinued operations	—)	—)	733,000)	—)	—)
Effect of exchange rate changes on cash and cash equivalents	(20,700)	(70,800)	(12,300)	68,900)	(13,200)
Net increase (decrease) in cash and cash equivalents	101,900)	176,000)	(504,900)	810,800)	(388,100)
Cash and cash equivalents balance, beginning of year	1,373,100)	1,197,100)	1,702,000)	891,200)	1,279,300)
Cash and cash equivalents balance, end of year	1,475,000)	1,373,100)	1,197,100)	1,702,000)	891,200)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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Cash flow statement item	Description	The company
Net cash provided by 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.	Amphenol Corp. net cash provided by operating activities increased from 2021 to 2022 and from 2022 to 2023.
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.	Amphenol Corp. net cash used in investing activities increased from 2021 to 2022 but then slightly decreased from 2022 to 2023.
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.	Amphenol Corp. net cash used in financing activities decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.

Amphenol Corp. (NYSE:APH)

Cash Flow Statement