SWCH Stock Cash Flow Statements

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Quarterly

Annual

Operating Cash Flow

Investing Cash Flow

Financing Cash Flow

Free Cash Flow

Capital Expenditure

Switch Quarterly Cash Flow Statements Table

Quarterly

Annual

Unit: USD	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31

cash flows from operating activities:
net income	-232,000	380,740,000	23,934,000	-18,460,000	-867,000	9,684,000	24,394,000	15,295,000	13,233,000	13,336,000	-3,489,000	16,167,000	7,098,000	4,606,000	3,671,000	11,166,000	4,663,000	9,539,000	3,950,000	-60,346,000
adjustments to reconcile net income to net cash from operating activities:
depreciation and amortization of property and equipment	50,544,000	49,509,000	47,833,000	47,336,000	45,138,000	41,285,000	38,791,000	37,416,000	36,791,000	36,013,000	32,518,000	31,348,000	30,236,000	29,803,000	28,558,000	27,356,000	28,989,000	25,718,000	24,603,000	24,448,000
amortization of customer relationships	1,562,000	1,563,000	1,562,000	1,563,000	1,562,000
loss on disposal of property and equipment	348,000			193,000	32,000			79,000	185,000	38,000	60,000	438,000	41,000	64,000	43,000	397,000	182,000	413,000	214,000	545,000
deferred income taxes	409,000	1,803,000	4,240,000	-1,629,000	-278,000	1,911,000	2,654,000	1,908,000	1,515,000	1,380,000	-273,000	1,464,000	610,000	442,000	197,000
amortization of debt issuance costs and original issue discount	663,000	662,000	662,000	661,000	689,000	620,000	583,000	583,000
credit loss expense	-3,000	53,000	157,000					223,000	-5,000	295,000	18,000
unrealized gain on swaps	-10,237,000	-4,091,000	-15,994,000
loss on extinguishment of debt				0				0												0
equity in net incomees on investments				281,000	326,000	379,000	220,000
gain on termination of tax receivable agreement	0
gain on sale of equity method investment				0	0	0	-5,374,000
equity-based compensation	7,104,000	6,980,000	6,681,000	8,005,000	7,053,000	7,528,000	7,297,000	6,583,000	7,116,000	7,510,000	7,524,000	6,626,000	7,310,000	7,443,000	8,145,000	7,539,000	7,628,000	8,209,000	12,357,000	79,911,000
amortization of portfolio energy credits	442,000	435,000	384,000	277,000				-65,000	616,000	498,000	267,000	608,000	551,000	326,000	359,000	468,000
cost of revenue for sales-type leases				0	0	1,000	149,000	0	0	633,000	2,803,000
changes in operating assets and liabilities:
accounts receivable	-9,776,000	3,609,000	-6,603,000	10,317,000	516,000	-6,635,000	169,000	-4,235,000	216,000	-1,910,000	5,944,000	-3,485,000	-2,977,000	-4,194,000	5,164,000	-1,688,000	-3,360,000	7,938,000	-3,077,000	-3,072,000
prepaid expenses	-2,652,000	2,987,000	-1,192,000	-1,576,000	-1,372,000	3,328,000	-514,000	-2,722,000	-1,367,000	2,601,000	454,000	-594,000	-2,462,000	2,231,000	50,000	-2,849,000	43,000	1,187,000	-125,000	-950,000
other current assets	-226,000	-370,000	62,000	253,000	-267,000	-440,000	108,000	529,000	431,000	1,248,000	-626,000	-449,000	-69,000	-20,000	-7,000	-41,000	-90,000	430,000	-530,000	-137,000
other assets	499,000	1,900,000	872,000	645,000	-995,000	-753,000	-444,000	593,000	-313,000	748,000	411,000	5,509,000	-453,000	-1,029,000	-580,000	-2,245,000	-2,255,000	-724,000	-129,000	-473,000
accounts payable	6,294,000	5,762,000	-8,848,000	-2,630,000	6,448,000	3,433,000	1,001,000	-2,895,000	2,645,000	-1,923,000	1,987,000	-3,583,000	3,184,000	1,708,000	-2,201,000	-1,250,000	1,370,000	-694,000	262,000	3,344,000
accrued salaries and benefits	4,537,000	1,759,000	1,530,000	-7,423,000	4,703,000	1,833,000	2,245,000	-8,524,000	4,206,000	2,349,000	1,025,000	-6,798,000	2,729,000	4,390,000	249,000	-4,713,000	1,546,000	3,746,000	-532,000
accrued interest	-526,000	824,000	-755,000	374,000	-458,000	7,110,000	-5,581,000
accrued expenses and other	10,827,000	5,976,000	-1,705,000	-2,374,000	4,520,000	277,000	965,000
deferred revenue	8,355,000	-1,421,000	3,844,000	102,000	2,571,000	-3,051,000	4,472,000	692,000	1,596,000	-4,138,000	-2,261,000	-5,063,000	13,092,000	3,326,000	1,082,000	2,227,000	648,000	-779,000	100,000	1,673,000
customer deposits	-22,000	291,000	372,000	104,000	487,000	493,000	456,000	520,000	173,000	527,000	298,000	388,000	380,000	-129,000	229,000	258,000	308,000	392,000	370,000	695,000
operating lease liabilities	-938,000	-575,000	-537,000	-118,000	-1,461,000	-963,000	-1,141,000	-1,310,000	-1,302,000	-1,300,000	-1,281,000
other long-term liabilities	17,000	-185,000	-180,000	-184,000	-141,000	-125,000	-121,000	-119,000	-116,000	-112,000	-92,000	-971,000	-115,000	817,000	-61,000	-60,000
net cash from operating activities	66,989,000	85,472,000	56,512,000	64,518,000	64,445,000	67,325,000	64,497,000	46,905,000	67,844,000	58,933,000	62,558,000	36,217,000	64,241,000	57,033,000	51,922,000	37,415,000	44,684,000	56,802,000	39,429,000	39,312,000
capex	-152,404,000	-135,514,000	-150,433,000	-124,029,000	-135,873,000	-95,362,000	-100,424,000	-97,944,000	-82,644,000	-85,554,000	-80,898,000	-86,416,000	-121,165,000	-54,185,000	-45,946,000	-54,380,000	-60,371,000	-99,386,000	-61,387,000	-118,550,000
free cash flows	-85,415,000	-50,042,000	-93,921,000	-59,511,000	-71,428,000	-28,037,000	-35,927,000	-51,039,000	-14,800,000	-26,621,000	-18,340,000	-50,199,000	-56,924,000	2,848,000	5,976,000	-16,965,000	-15,687,000	-42,584,000	-21,958,000	-79,238,000
cash flows from investing activities:
acquisition of a business, net of cash acquired	0			-2,680,000	0
acquisition of property and equipment	-152,404,000	-135,514,000	-150,433,000	-124,029,000	-135,873,000	-95,362,000	-100,424,000	-97,944,000	-82,644,000	-85,554,000	-80,898,000	-86,416,000	-121,165,000	-54,185,000	-45,946,000	-54,380,000	-60,371,000	-99,386,000	-61,387,000	-118,550,000
purchase of portfolio energy credits	-576,000	-840,000	-542,000	-515,000	-496,000	-256,000	-1,500,000	-645,000	-480,000	-300,000	-601,000	-608,000	-551,000	-245,000	-299,000	-609,000	-1,932,000	-35,000	-32,000	-105,000
purchase of equity method investment				0	0	0	-2,200,000
proceeds from sale of equity method investment				0	0	0	4,900,000
proceeds from sale of property and equipment	31,000	0	378,000	0	0			0	0			0	15,000	2,000	16,000	37,000				0
net cash from investing activities	-152,949,000	-140,032,000	-150,597,000	-127,224,000	-136,369,000	-502,679,000	-99,224,000	-98,589,000	-83,124,000	-85,852,000	-81,499,000	-87,024,000	-121,701,000	-54,428,000	-46,229,000	-54,952,000	-58,770,000	-101,907,000	-62,466,000	-111,023,000
cash flows from financing activities:
proceeds from borrowings, net of original issue discount	110,000,000	70,000,000	100,000,000	90,000,000
payment of debt issuance costs				0
repayment of borrowings, including finance lease liabilities	-1,032,000	-1,032,000	-1,031,000	-1,034,000	-30,000	-20,029,000	-46,000	-28,000	-462,028,000	-1,522,000	-1,671,000
change in long-term deposit	-1,216,000	-2,431,000	-3,218,000	-3,200,000	-3,450,000	-1,262,000	877,000	-419,000	-127,000	-41,000	1,659,000	-1,223,000	-393,000	-6,000	2,543,000	0
payment of tax withholdings upon settlement of restricted stock unit awards	-820,000	-609,000	-12,104,000	-301,000	-550,000	-160,000	-5,782,000	-61,000	-342,000	-126,000	-4,040,000	-7,000	-98,000	-5,000	-1,338,000	-5,000	-7,000	-7,000	-1,213,000
proceeds from exercise of stock options	1,915,000	3,328,000	2,445,000	1,325,000	3,658,000			0	125,000
dividends paid to class a common stockholders	-8,237,000	-7,911,000	-7,811,000	-7,618,000	-7,214,000	-6,546,000	-6,377,000	-5,952,000	-5,447,000	-3,135,000	-2,795,000	-2,639,000	-2,480,000			-812,000	-765,000
distributions paid to noncontrolling interest	-4,625,000	-4,942,000	-5,028,000	-5,369,000	-5,652,000	-5,659,000	-5,782,000	-6,128,000	-6,590,000	-4,114,000	-4,222,000	-4,364,000	-4,652,000
net cash from financing activities	95,985,000	56,403,000	73,253,000	73,713,000	22,348,000	485,256,000	-17,110,000	-13,678,000	139,631,000	-6,062,000	58,931,000	23,050,000	49,769,000	-29,394,000	-295,000	-5,414,000	-65,407,000	-9,452,000	-3,068,000	328,385,000
net decrease in cash, cash equivalents, and restricted cash	10,025,000	1,843,000	-20,832,000
cash, cash equivalents, and restricted cash—beginning of period	0	0	50,215,000		0
cash, cash equivalents, and restricted cash—end of period	10,025,000	1,843,000	29,383,000		-49,576,000
supplemental disclosures of cash flow information:
cash paid for interest, net of amounts capitalized	16,524,000	12,861,000	13,449,000	12,639,000	15,054,000	2,567,000	13,852,000	2,818,000	5,514,000	6,326,000	7,106,000	6,196,000	6,487,000			6,318,000	6,905,000			6,651,000
supplemental disclosures of non-cash investing and financing information:
increase in liabilities incurred to acquire property and equipment	11,048,000	4,336,000	-23,114,000	22,013,000	-14,371,000	21,756,000	3,141,000	1,737,000	-558,000			13,719,000	7,840,000			-4,089,000	7,354,000			-34,043,000
increase in accrued construction payables incurred related to long-term deposit	-904,000			-1,222,000	578,000			-466,000	410,000			179,000	68,000
increase in liabilities related to remaining purchase price for the acquisition of a business				-2,829,000	0
increase in noncontrolling interest as a result of exchanges for class a common stock
recognition of liabilities under tax receivable agreement	0	35,436,000	16,841,000	36,606,000	32,694,000	14,973,000	32,477,000	35,175,000	9,605,000	52,811,000	19,198,000	29,560,000	20,505,000			7,105,000	5,896,000
increase in deferred tax asset resulting from changes in outside basis difference on investment in switch, ltd.	47,056,000	23,439,000	15,294,000	30,137,000	27,576,000	10,691,000	26,752,000	27,440,000	4,915,000	44,394,000	16,610,000	25,774,000	15,671,000
right-of-use assets obtained in exchange for new operating lease liabilities	1,650,000			277,000	-459,000	4,405,000	3,434,000
decrease in distributions payable on unvested common units	0	0	-97,000		-165,000
increase in dividends payable on unvested restricted stock units	169,000	169,000	148,000	163,000	170,000	170,000	185,000	166,000	182,000	110,000	96,000	79,000	99,000
dividends payable settled with shares of class a common stock	33,000	16,000	555,000	7,000	27,000	7,000	308,000	2,000	11,000	5,000	129,000	0	2,000
increase in liabilities related to purchase of portfolio energy credits	38,000
reconciliation of cash, cash equivalents, and restricted cash:
cash and cash equivalents	10,025,000	3,733,000	27,493,000	13,085,000	-49,576,000
restricted cash			1,890,000	-2,078,000	0
total cash, cash equivalents, and restricted cash	10,025,000	1,843,000	29,383,000	11,007,000	-49,576,000
increase in liabilities incurred related to deferred debt issuance costs
decrease in noncontrolling interest as a result of exchanges for class a common stock		-4,245,000	-7,766,000	-15,976,000	-14,917,000	-9,201,000	-22,364,000	-26,198,000	-5,236,000	-31,840,000	-13,403,000	-15,538,000	-18,550,000
gain on disposal of property and equipment			193,000
decrease in accrued construction payables incurred related to long-term deposit			-1,500,000				-41,000				-882,000
increase in receivables due to sale of property and equipment							931,000
credit loss (benefit) expense
unrealized (gain) loss on swaps				-5,881,000	-4,293,000
litigation settlement expense
offering costs paid on issuance of class a shares upon litigation settlement
repurchase of common units								0	0			-66,341,000	-11,108,000			0
net increase in cash, cash equivalents, and restricted cash				11,007,000	-49,576,000
cash, cash equivalents, and restricted cash—beginning of year
cash, cash equivalents, and restricted cash—end of year
increase in accounts payable incurred related to long-term deposit
right-of-use assets obtained in exchange for new finance lease liabilities
increase in distributions payable on unvested common units							-86,000	-46,000	-7,000	-180,000	82,000	77,000	73,000
increase in property and equipment related to transfer from long-term deposit
decrease in accounts receivable due to refund of long-term deposit
proceeds from borrowings								0	620,000,000	20,000,000	70,000,000	100,000,000								0
payment of debt issuance costs and original issue discount								-1,090,000
(gain) loss on disposal of property and equipment							-193,000
credit (benefit) loss expense							-77,000
unrealized (gain) loss on interest rate swaps							-5,562,000
net increase in cash and cash equivalents							-51,837,000	-65,362,000	124,351,000	-32,981,000	39,990,000				5,398,000
cash and cash equivalents—beginning of period							90,719,000		0	0	24,721,000		0	0	81,560,000		0	0	264,666,000
cash and cash equivalents—end of period							38,882,000		124,351,000	-32,981,000	64,711,000		-7,691,000	-26,789,000	86,958,000		-79,493,000	-54,557,000	238,561,000
unrealized loss on interest rate swaps								-2,158,000	-811,000	2,151,000	16,745,000	-3,435,000	3,684,000	8,780,000	4,985,000
equity in losses on investments																			331,000
acquisition of intangible asset																0	0			0
settlement of option loans
cash and cash equivalents—beginning of year
cash and cash equivalents—end of year
right-of-use assets obtained in exchange for new finance leases
increase in accounts receivable due to refund of long-term deposit
settlement of liability incurred upon acquisition of capital lease asset
distributions used for payment of option loans and related interest																	0			1,000
net investment in sales-type leases
accrued expenses									2,351,000	-1,420,000	117,000	1,408,000	1,028,000	-1,891,000	1,653,000	438,000	1,459,000	98,000	1,314,000	-7,057,000
increase in property and equipment related to transfer of long-term deposit									0	0	244,000
increase in accounts payable related to long-term deposit
right-of-use assets obtained in exchange for new operating leases
property and equipment obtained in exchange for new finance leases									0	-7,000	145,000
amortization of debt issuance costs										409,000	409,000	409,000	409,000	409,000	409,000	409,000	409,000	409,000	409,000	402,000
decrease in liabilities incurred to acquire property and equipment											-13,532,000
dividends and distributions declared but not paid
benefit for doubtful accounts												34,000	-35,000	-49,000	-23,000
equity in net incomees of investments																0	0
cost of revenue for sales-type lease
accrued impact fee expense																				0
proceeds from notes receivable																				0
proceeds from issuance of class a common stock, net of offering costs
payment of debt issuance and extinguishment costs
distributions declared but not paid																				-6,067,000
repayment of borrowings, including capital lease obligations													-1,500,000	-1,500,000	-1,500,000	-1,833,000	-1,500,000	-1,500,000	-1,500,000	-233,691,000
net decrease in cash and cash equivalents													-7,691,000						-26,105,000
escrow deposit																		-2,461,000	-1,047,000
bad debt expense																124,000
amortization of notes receivable discount
impairment of equity method investment
purchase of notes receivable
distributions paid to noncontrolling interest/members
settlement of unit option loans
repurchase of unit options
taxes paid on behalf of employees for unit option exercises
(settlement of) liability incurred upon acquisition of capital lease asset
increase in accounts receivable related to refund of long-term deposit
dividends payable on unvested restricted stock units																30,000	34,000
distributions used for payment of unit option loans and related interest
increase in deferred tax asset as a result of exchanges for class a common stock																7,575,000	1,588,000
net settlement of outstanding vested unit options
forgiveness of note receivable in exchange for capital lease asset
income tax expense																	1,212,000
debt issuance costs on new loan																				-142,000
deferred offering costs paid
distributions paid to non-controlling interest/members																	-2,805,000
decrease in non-controlling interest as a result of exchanges for class a common stock																	-7,466,000
increase in liabilities incurred related to deferred offering costs
reimbursement of costs in property and equipment related to substation agreement
reimbursement of costs in long-term deposits related to substation agreement
bad debts																		9,000	83,000	251,000
other long term liabilities
change in long term deposit																		-641,000	-355,000
increase in liabilities incurred related to debt refinancing
income tax benefit																			-115,000
accrued interest, capital lease obligations																			-56,000	-54,000
distributions paid to members
equity in net incomees (earnings) on investments
gain on sale of asset
planet3 impairment
other income
purchase of investments
proceeds from issuance of common stock sold in initial public offering, net of offering costs
long-term deposit
issuance of membership units upon exercise of unit options
taxes paid for net settlement of exercised options
distributions paid to members and non-controlling interests
repurchase of member options
net increase in cash
cash — beginning of year
cash — end of year
liability incurred upon acquisition of capital lease asset
liability incurred related to investment in planet3
net settlement of recourse notes including interest issued to members
net settlement of outstanding vested options
cash distributions
net decrease in cash
cash - beginning of period
cash - end of period

We provide you with 20 years of cash flow statements for Switch stock, allowing you to gain comprehensive visibility into the fundamentals of the company. Our detailed breakdowns include key financial metrics such as operating cash flows, cash levels, capital expenditures, profits, stock-based compensations and profit margins. This in-depth information is essential for making informed investment decisions and understanding the financial health and performance of Switch stock. Explore the full financial landscape of Switch stock with our expertly curated income statements.

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