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SEC Filings

10-Q
IHS MARKIT LTD. filed this Form 10-Q on 03/26/2019
Entire Document
 


IHS MARKIT LTD.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
(In millions)
 
 
Three months ended February 28,
 
2019
 
2018
Operating activities:

 

Net income
$
109.0

 
$
240.7

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

 

Depreciation and amortization
142.3

 
130.6

Stock-based compensation expense
59.7

 
61.9

Net periodic pension and postretirement expense
0.3

 
0.2

Pension and postretirement contributions
(0.5
)
 
(0.5
)
Deferred income taxes
(23.4
)
 
(187.9
)
Change in assets and liabilities:
 
 
 
Accounts receivable, net
(155.7
)
 
(110.6
)
Other current assets
(51.5
)
 
(20.7
)
Accounts payable
4.0

 
(1.1
)
Accrued expenses
(78.6
)
 
(67.2
)
Income tax
3.3

 
29.3

Deferred revenue
162.9

 
125.3

Other liabilities
16.2

 
2.9

Net cash provided by operating activities
188.0

 
202.9

Investing activities:

 

Capital expenditures on property and equipment
(63.2
)
 
(55.2
)
Intangible assets acquired

 
(3.1
)
Payments to acquire cost-method investments
(5.1
)
 

Change in other assets
(1.9
)
 
0.1

Settlements of forward contracts
1.4

 
3.1

Net cash used in investing activities
(68.8
)
 
(55.1
)
Financing activities:

 

Proceeds from borrowings
307.0

 
745.0

Repayment of borrowings
(392.9
)
 
(657.0
)
Payment of debt issuance costs

 
(7.0
)
Payments for purchase of noncontrolling interests

 
(7.7
)
Proceeds from noncontrolling interests
12.5

 

Contingent consideration payments
(2.2
)
 

Proceeds from the exercise of employee stock options
25.7

 
56.9

Payments related to tax withholding for stock-based compensation
(62.0
)
 
(76.6
)
Repurchases of common shares

 
(172.5
)
Net cash used in financing activities
(111.9
)
 
(118.9
)
Foreign exchange impact on cash balance
5.9

 
(6.7
)
Net increase in cash and cash equivalents
13.2

 
22.2

Cash and cash equivalents at the beginning of the period
120.0

 
133.8

Cash and cash equivalents at the end of the period
$
133.2

 
$
156.0


See accompanying notes.

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