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SEC Filings

10-Q
IHS MARKIT LTD. filed this Form 10-Q on 06/26/2018
Entire Document
 


IHS MARKIT LTD.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
(In millions)
 
 
Six months ended May 31,
 
2018
 
2017
Operating activities:

 

Net income
$
354.9

 
$
164.8

Reconciliation of net income to net cash provided by operating activities:

 

Depreciation and amortization
261.6

 
243.6

Stock-based compensation expense
119.6

 
139.8

Net periodic pension and postretirement expense
0.5

 
0.8

Undistributed earnings of affiliates, net

 
0.6

Pension and postretirement contributions
(1.3
)
 
(1.3
)
Deferred income taxes
(184.2
)
 
(22.5
)
Change in assets and liabilities:
 
 
 
Accounts receivable, net
(47.7
)
 
(10.4
)
Other current assets
(16.7
)
 
(41.4
)
Accounts payable
(10.5
)
 
(13.8
)
Accrued expenses
(38.8
)
 
(96.1
)
Income tax
18.1

 
(11.0
)
Deferred revenue
91.0

 
94.0

Other liabilities
39.1

 
4.2

Net cash provided by operating activities
585.6

 
451.3

Investing activities:

 

Capital expenditures on property and equipment
(114.7
)
 
(130.5
)
Acquisitions of businesses, net of cash acquired
(8.8
)
 

Change in other assets
(7.9
)
 
(0.3
)
Settlements of forward contracts
(2.0
)
 
9.0

Net cash used in investing activities
(133.4
)
 
(121.8
)
Financing activities:

 

Proceeds from borrowings
1,427.6

 
1,790.0

Repayment of borrowings
(1,159.9
)
 
(1,185.2
)
Payment of debt issuance costs
(14.6
)
 
(9.5
)
Payments for purchase of noncontrolling interests
(7.7
)
 

Proceeds from the exercise of employee stock options
111.9

 
187.5

Payments related to tax withholding for stock-based compensation
(79.1
)
 
(70.3
)
Repurchases of common shares
(672.5
)
 
(1,005.7
)
Net cash used in financing activities
(394.3
)
 
(293.2
)
Foreign exchange impact on cash balance
(32.7
)
 
(12.7
)
Net increase in cash and cash equivalents
25.2

 
23.6

Cash and cash equivalents at the beginning of the period
133.8

 
138.9

Cash and cash equivalents at the end of the period
$
159.0

 
$
162.5


See accompanying notes.

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