HARMONIC INC.

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:
Net Income (Loss) Attributable to Parent ($72.3m) ($83.0m) ($21.0m) ($5.9m) ($29.3m) $13.3m $28.2m $84.0m $39.2m ($43.3m)
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent $1.2m
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest ($44.5m)
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent ($44.5m)
Amortization $8.4m $8.3m
Amortization of Debt Issuance Costs $534k $591k $652k $743k ($672k) $0 $0 ($1.0m) ($332k) $0
Amortization of Debt Issuance Costs and Discounts $5.0m $5.5m $6.1m $6.8m $7.1m $6.3m $1.2m $899k ($332k) $0
Amortization of Intangible Assets $14.8m $8.3m $3.2m $3.1m $4.0m $507k $0 $0
Depreciation $18.8m $14.6m $13.0m $11.3m $11.7m $12.5m $12.3m $12.3m $12.1m $11.1m
Share-based Payment Arrangement, Noncash Expense $13.1m $16.6m $17.3m $12.1m $18.0m $24.1m $25.2m $27.3m $28.1m $31.9m
Payment, Tax Withholding, Share-based Payment Arrangement $6.3m $9.5m $7.5m $4.4m
Share-based Payment Arrangement, Expense $13.1m $16.6m $17.3m $12.1m $18.0m $24.1m $25.2m $27.3m $28.1m $21.6m
Goodwill, Impairment Loss $0 $0 $0 $0 $0 $0 $0 $0 $0
Impairment of Intangible Assets, Finite-lived $0 $0 $0 $0
Operating Lease, Impairment Loss $3.9m $400k
Restructuring Costs and Asset Impairment Charges $2.3m $1.9m $1.5m $124k $0 $0 $12.0m $1.6m
Gain (Loss) on Extinguishment of Debt ($5.7m) ($1.4m) $0 $0
Income Tax Expense (Benefit) ($8.1m) ($1.8m) $4.1m ($672k) $3.1m ($4.4m) $16.3m ($64.9m) $18.7m $7.6m
Interest Expense Nonoperating $7.3m $3.8m
Other Nonoperating Income (Expense) ($31k) ($2.2m) ($536k) ($2.3m) ($897k) $687k $4.0m ($335k) $2.1m ($1.4m)
Changes in operating assets and liabilities:
Additional Financial Items
Increase (Decrease) in Accounts Receivable $2.6m ($12.6m) $14.7m $8.4m ($21.2m) $26.7m $23.1m $35.5m $38.2m ($53.9m)
Increase (Decrease) in Inventories $4.1m ($11.7m) $2.0m $4.8m $8.2m $39.3m $54.4m ($35.4m) ($8.4m) $7.1m
Increase (Decrease) in Accounts Payable $5.8m $3.4m $1.0m $5.1m ($18.2m) $42.3m $5.8m ($29.4m) ($3.1m) ($6.0m)
Foreign Currency Transaction Gain (Loss), before Tax ($200k) ($2.4m) $1.9m $290k ($6.4m) $5.1m $2.7m ($1.5m) ($315k) ($847k)
Goodwill $237.3m $242.8m $240.6m $239.8m $243.7m $240.2m $237.7m $239.2m $236.9m $60.9m
Inventory Write-down $6.9m $6.0m $1.6m $1.5m $1.8m $3.5m $6.0m $7.4m $11.0m $3.3m
Nonoperating Income (Expense) ($13.4m) ($13.8m) ($11.9m) ($14.0m) ($12.4m) ($9.9m) ($1.0m) ($3.0m) ($5.2m) ($5.2m)
Operating Expenses $267.8m $240.7m $214.2m $209.9m $207.4m $240.9m $270.4m $290.4m $302.8m $160.7m
Net Cash Provided by (Used in) Operating Activities $438k $3.1m $12.3m $31.3m $39.2m $41.0m $5.5m $7.1m $61.9m $108.0m
Cash flows from investing activities:
Payments to Acquire Property, Plant, and Equipment $15.1m $11.4m $7.0m $10.3m $32.2m $13.0m $9.2m $8.5m $9.2m $11.1m
Payments to Acquire Businesses, Net of Cash Acquired $75.7m $0 $0
Payments to Acquire Investments $0 $0
Net Cash Provided by (Used in) Investing Activities ($70.5m) ($4.2m) ($6.9m) ($10.3m) ($32.2m) ($13.0m) ($1.3m) ($8.5m) ($9.2m) ($11.1m)
Cash flows from financing activities:
Proceeds from Issuance of Long-term Debt $0 $0 $115.0m $135.0m
Payments for Repurchase of Common Stock $0 $0 $0 $0 $5.1m $0 $30.0m $79.0m
Dividends paid $0 $0 $0 $0 $0 $0
Net Cash Provided by (Used in) Financing Activities ($152k) $895k $2.7m $6.3m ($2.1m) $7.9m ($43.1m) ($5.0m) ($33.3m) ($81.4m)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents $1.9m ($763k) ($203k) $738k ($1.2m) ($4.9m) $1.1m ($1.9m) $7.2m
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect $1.9m $7.2m $27.1m $5.6m $34.8m ($43.8m) ($5.3m) $17.5m $22.7m
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents $1.9m $66.0m $93.1m $98.6m $133.4m $89.6m $84.3m $101.8m $124.5m
Restricted Cash and Investments, Current $731k $0 $0 $332k $356k
Supplemental disclosure of cash flow information:
Interest Paid, Excluding Capitalized Interest, Operating Activities $4.3m $4.2m $4.1m $3.8m $1.6m $6.3m $4.1m
Income Taxes Paid, Net ($54k) $2.1m $2.0m $1.1m ($17k) $2.5m $9.0m $18.1m $27.3m $12.8m