Astridis, Inc. reported the following statement of cash flows in its 2020 annual report. Amounts are shown
Question:
Astridis, Inc. reported the following statement of cash flows in its 2020 annual report. Amounts are shown in thousands of dollars.
Required
Analyze Astridis’s statement of cash flows by making at least two observations about each section of the statement.
Transcribed Image Text:
Astridis, Inc. Statement of Cash Flows For the Year Ending December 31 2020 2019 2018 Cash flows from operating activities Net income S(623,854) $(936,248) $(746,837) Adjustments to net income Depreciation Provision for doubtful accounts 98,555 100,670 9,082 105,749 7,613 4,011 Other non-cash items 181,206 460,013 177,536 Changes in operating assets and liabilities (42,600) (45,705) (6,329) (5,372) 245,052 Receivables (20,326) Inventory Prepaid expenses and other current assets Accounts payable and accrued expenses Other liabilities (20,246) (61,698) 133,519 4,965 23,568 166,169 125,255 (153,834) 62,886 85,694 Net cash provided (used) by operating activities (117,908) (245,930) 2020 2019 2018 Cash flows from investing activities Purchases of property and equipment Proceeds from sale of property and equipment (90,708) (130,387) (51,367) 641 827 928 Purchases of investments (4,310) (105,279) 255,015 (173,937) Sales of investments 40,191 48,555 Net cash provided (used) by investing activities (54,186) 20,176 (175,821) Cash flows from financing activities Proceeds from issuance of long-term debt Repayment of debt 244,079 453,661 (625) (57,609) 75,879 Other 4,897 25,787 Net cash provided (used) by financing activities 248,351 25,787 471,931 Change in cash Cash, beginning balance Cash, ending balance 76,257 (199,967) 142,276 678,200 878,167 753,891 $ 754,457 $ 678,200 $ 896,167
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