OPEN TEXT CORP
For the period ended Sep 30, 2024. Filed Oct 31, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Oct 31, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Cash Flows
| Three Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net income | $84,422 | $80,946 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization of intangible assets | 160,919 | 231,107 |
| Share-based compensation expense | 29,558 | 37,095 |
| Pension expense | 3,463 | 3,171 |
| Amortization of debt discount and issuance costs | 5,296 | 5,496 |
| Write-off of right of use assets | — | 4,715 |
| Loss on sale and write down of property and equipment, net | 2 | 458 |
| Deferred taxes | (42,150) | (88,630) |
| Share in net (income) loss of equity investees | (455) | 9,696 |
| Changes in financial instruments | 24,935 | (17,895) |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 57,607 | 31,304 |
| Contract assets | (33,849) | (22,566) |
| Prepaid expenses and other current assets | 22,151 | 19,326 |
| Income taxes | (193,509) | 29,597 |
| Accounts payable and accrued liabilities | (107,520) | (124,214) |
| Deferred revenue | (76,531) | (150,476) |
| Other assets | (4,742) | 4,104 |
| Operating lease assets and liabilities, net | (7,403) | (6,113) |
| Net cash provided by (used in) operating activities | (77,806) | 47,121 |
| Cash flows from investing activities: | ||
| Additions of property and equipment | (39,316) | (37,539) |
| Purchase of Micro Focus, net of cash acquired | — | (9,272) |
| Proceeds from net investment hedge derivative contracts | 2,519 | 1,966 |
| Other investing activities | 357 | (5,554) |
| Net cash used in investing activities | (36,440) | (50,399) |
| Cash flows from financing activities: | ||
| Proceeds from issuance of Common Shares from exercise ofstock options and ESPP | 9,449 | 11,453 |
| Repayment of long-term debt and Revolver | (8,963) | (186,463) |
| Net change in transition services agreement obligation | (4,295) | — |
| Debt issuance costs | — | (1,961) |
| Repurchase of Common Shares | (87,403) | — |
| Purchase of treasury stock | (25,000) | (53,085) |
| Payments of dividends to shareholders | (69,061) | (66,965) |
| Net cash used in financing activities | (185,273) | (297,021) |
| Foreign exchange gain (loss) on cash held in foreign currencies | 19,136 | (11,503) |
| Decrease in cash, cash equivalents and restricted cash during the period | (280,383) | (311,802) |
| Cash, cash equivalents and restricted cash at beginning of the period | 1,282,793 | 1,233,952 |
| Cash, cash equivalents and restricted cash at end of the period | $1,002,410 | $922,150 |
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
| Reconciliation of cash, cash equivalents and restricted cash: | September 30, 2024 | September 30, 2023 |
|---|---|---|
| Cash and cash equivalents | $1,000,219 | $919,850 |
| Restricted cash (1) | 2,191 | 2,300 |
| Total cash, cash equivalents and restricted cash | $1,002,410 | $922,150 |
(1)Restricted cash is classified under the Prepaid expenses and other current assets and Other assets line items on the Condensed Consolidated Balance Sheets (Note 7).
Supplemental cash flow disclosures (Note 4 and Note 19)
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.