VIRTUSA CORP Cashflow Statement

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Financial Statements

Income Statement Balance Sheet Cashflow Statement

Consolidated Statements of Cash Flows

In millions of USD, except per-share amounts

	FY2020 12 months to Mar 31, 2020	FY2019 12 months to Mar 31, 2019	FY2018 12 months to Mar 31, 2018	FY2017 12 months to Mar 31, 2017	FY2016 12 months to Mar 31, 2016
Cash flows from operating activities:
Net income
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
Share-based compensation expense
Provision (recovery) for doubtful accounts
Gain on disposal of property and equipment
Impairment of long-lived asset classified as held for sale
Impairment of investment
Foreign currency transaction losses, net
Amortization of discounts and premiums on investments
Amortization of debt issuance cost
Excess tax (benefits) expense from stock option exercises
Deferred income taxes, net
Net changes in operating assets and liabilities
Accounts receivable and unbilled receivable
Prepaid expenses and other current assets
Other long-term assets
Accounts payable
Accrued employee compensation and benefits
Accrued expenses and other current liabilities
Operating lease liabilities
Income taxes payable
Other long-term liabilities

Net cash provided by operating activities
Cash flows from investing activities:
Proceeds from sale of property and equipment
Purchase of short-term investments
Proceeds from sale or maturity of short-term investments
Purchase of long-term investments
Proceeds from sale or maturity of long-term investments
(Increase) decrease in restricted cash
Payment for asset acquisitions
Payment of contingent consideration of asset acquisition
Business acquisitions, net of cash acquired
Payment of deferred consideration related to business acquisitions
Purchase of property and equipment
Net cash provided by (used in) investing activities
Net cash used in investing activities

Cash flows from financing activities:
Proceeds from exercise of common stock options
Parent
Subsidiaries
Total proceeds from exercise of common stock options

Proceeds from exercise of subsidiary stock options
Proceeds from debt
Payment of debt issuance costs
Borrowings on revolving credit facility
Proceeds from revolving credit facility
Payment of debt
Repayment of revolving credit facility
Payment of contingent consideration related to acquisitions
Acquisition of noncontrolling interest
Acquisition of other non controlling interest
Proceeds from subsidiary stock sale
Repurchase of common stock
Payments of withholding taxes related to net share settlements of restricted stock
Purchase of redeemable noncontrolling interest related to Polaris
Series A Convertible Preferred Stock proceeds, net of issuance costs of $1,154
Payment to acquire noncontrolling interest
Principal payments on capital lease obligation
Excess tax (expense) benefits from stock option exercises
Net cash (used in) provided by financing activities
Effect of exchange rate changes on cash and cash equivalents
Net (decrease) increase in cash and cash equivalents
Payment of dividend on Series A Convertible Preferred Stock
Net cash provided by financing activities

Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash, cash equivalents and restricted cash
Net increase (decrease) in cash and cash equivalents and restricted cash
Cash and cash equivalents, beginning of year
Cash and cash equivalents, end of year
Cash, cash equivalents and restricted cash, beginning of year
Cash, cash equivalents and restricted cash, end of year
Supplemental disclosure of cash flow information:
Cash paid for interest
Cash receipts from interest
Cash paid for income tax
Assets acquired under capital lease

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