Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.19.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Mar. 31, 2017
Statement of Cash Flows [Abstract]      
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents $ 207,918 $ 286,846 $ 109,774
Restricted Cash 0 0 0
Operating activities:      
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest 206,587 254,127 47,157
Adjustments to reconcile net income to net cash provided by (used in) operating activities, net of effect of acquisitions:      
Depreciation and amortization (1) 52,628 50,661 38,151
Stock-based compensation expense 3,304 (76,192) (41,643)
Business combination bargain purchase, gain recognized 0 (130,880) 0
Non-cash debt and financing costs 1,872 2,467 761
Loss on early extinguishment of debt 15,946 486 0
Change in value of TOKIN options 0 0 (10,700)
Net (gain) loss on sales and disposals of assets 700 (1,200) 400
Stock-based compensation expense 12,866 7,657 4,720
Pension and other post-retirement benefits 4,938 4,717 2,543
Change in deferred income taxes (1) (49,757) 564 (15)
Disposal Group, Not Discontinued Operation, Loss (Gain) on Write-down 1,660 (992) 10,671
Rent receivable 0 2,645 0
Other, net (1) (285) (680) (392)
Changes in assets and liabilities, net of the effect of acquisitions:      
Accounts receivable (1) (8,910) 30,217 (2,630)
Inventories (42,806) (13,827) 16,805
Prepaid expenses and other assets (4,381) 4,330 (1,769)
Accounts payable 7,650 (16,053) 6,170
Accrued income taxes 1,046 1,317 144
Other operating liabilities (1) (70,627) 197 1,694
Net cash provided by (used in) operating activities 131,731 120,761 71,667
Investing activities:      
Capital expenditures (146,056) (65,004) (25,617)
Contributions to equity method investments (4,000) (3,000) 0
Proceeds from dividend 776 2,745 0
Acquisitions, net of cash received 0 (163,985) 0
Proceeds from sale of discontinued operations   3,400  
Proceeds from sale of assets 2,268 3,638 19
Net cash provided by (used in) investing activities (147,012) 102,364 (25,598)
Financing activities:      
Proceeds from revolving line of credit 0 0 12,000
Payments of revolving line of credit 0 (33,881) (12,000)
Proceeds from issuance of debt 298,336 334,978 2,314
Payment of long-term debt (344,461) (365,938) (2,428)
Payment for Debt Extinguishment or Debt Prepayment Cost (3,234) 0 0
Debt issuance costs (2,021) (5,002) 0
Proceeds from exercise of stock options 485 5,207 1,133
Proceeds from exercise of stock warrants 0 8,838 0
Purchase of treasury stock 0 0 (1,144)
Payments of Ordinary Dividends, Common Stock (5,762) 0 0
Net cash provided by (used in) financing activities (56,657) (55,798) (125)
Net increase (decrease) in cash, cash equivalents, and restricted cash (71,938) 167,327 45,944
Effect of foreign currency fluctuations on cash (2) (6,990) 9,745 (1,174)
Cash, cash equivalents, and restricted cash at end of fiscal year 207,918 286,846 109,774
Supplemental Cash Flow Statement Information:      
Interest paid, net of capitalized interest 11,965 44,905 38,922
Income taxes paid $ 10,863 $ 7,120 $ 4,153