SEC Filings

10-Q
CRAY INC filed this Form 10-Q on 10/30/2018
Entire Document
 


CRAY INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited and in thousands)
 
Nine Months Ended
September 30,
 
2018
 
2017
Operating activities:
 
 
 
Net loss
$
(58,351
)
 
$
(36,287
)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
 
 
 
Depreciation and amortization
12,158

 
12,134

Share-based compensation expense
9,648

 
7,643

Deferred income taxes
(115
)
 
(21,419
)
Gain on strategic transaction

 
(4,389
)
Gain on sale of equity investment
(429
)
 
(3,350
)
Other
232

 
741

Cash provided (used) due to changes in operating assets and liabilities:
 
 
 
Accounts and other receivables
84,583

 
137,559

Long-term investment in sales-type lease, net
9,888

 
7,065

Inventory
38,124

 
(107,621
)
Prepaid expenses and other assets
516

 
1,939

Accounts payable
(28,029
)
 
(3,512
)
Accrued payroll and related expenses and other liabilities
1,511

 
(3,982
)
Customer contract liabilities
(29,315
)
 
(25,205
)
Net cash provided by (used in) operating activities
40,421

 
(38,684
)
Investing activities:
 
 
 
Sales/maturities of available-for-sale investments
7,000

 
66,610

Purchases of available-for-sale investments

 
(94,902
)
Cash received in strategic transaction
1,584

 
8,000

Proceeds from sale of equity investment
429

 
4,481

Purchases of property and equipment
(3,813
)
 
(15,647
)
Net cash provided by (used in) investing activities
5,200

 
(31,458
)
Financing activities:
 
 
 
Proceeds from issuance of common stock through employee stock purchase plan

 
365

Purchase of employee restricted shares to fund related statutory tax withholding

(2,934
)
 
(1,869
)
Proceeds from exercises of stock options
1,801

 
693

Net cash used in financing activities
(1,133
)
 
(811
)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash
(627
)
 
1,152

Net increase (decrease) in cash, cash equivalents and restricted cash
43,861

 
(69,801
)
Cash, cash equivalents and restricted cash:
 
 
 
Beginning of period
140,320

 
224,617

End of period
$
184,181

 
$
154,816

 
 
 
 
Supplemental disclosure of cash flow information:
 
 
 
Cash paid for income taxes
$
741

 
$
1,202

Non-cash investing and financing activities:
 
 
 
Inventory transfers to fixed assets and service spares
$
6,572

 
$
1,248

Strategic transaction:
 
 
 
Non-cash assets acquired:
 
 
 
Receivable from Seagate
$

 
$
1,404


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