• Entity registrant name: FORMULA SYSTEMS (1985) LTD (CIK: 0001045986)
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1045986/000121390018006332/0001213900-18-006332-index.htm
  • XBRL Instance: http://www.sec.gov/Archives/edgar/data/1045986/000121390018006332/forty-20171231.xml
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    • * * *

    Component: (Network and Table)
    Network
    008 - Statement - Consolidated Statements of Cash Flows
    (http://formulasystems.com/role/ConsolidatedStatementsOfCashFlows)
    Table (Implied)
    Slicers (applies to each fact value in each table cell)
    Reporting Entity [Axis] 0001045986 (http://www.sec.gov/CIK)
    Statement of cash flows [abstract] Period [Axis]
    2017-01-01 - 2017-12-31
    2016-01-01 - 2016-12-31
    2015-01-01 - 2015-12-31
    Statement of cash flows [abstract]
     
     
     
    Cash flows from operating activities:
     
     
     
    Net income
    39,440,000  
    56,100,000  
    50,354,000  
    Adjustments to reconcile net income to net cash provided by operating activities:
     
     
     
    Equity in losses (gains) of companies accounted for at equity
    (1,124,000) 
    (349,000) 
    142,000  
    Depreciation and amortization
    43,646,000  
    32,370,000  
    30,896,000  
    Changes in value of debentures
    5,277,000  
    1,371,000  
    195,000  
    Increase (decrease) in employee benefit liabilities
    752,000  
    (1,656,000) 
    (522,000) 
    Loss (gain) from sale of property, plants and equipment
    26,000  
    (3,147,000) 
    		  
    Stock-based compensation expenses
    4,552,000  
    4,394,000  
    4,866,000  
    Changes in value of short-term and long term loans from banks and others and deposits, net
    6,731,000  
    500,000  
    (120,000) 
    Changes in deferred taxes, net
    (12,819,000) 
    211,000  
    2,134,000  
    Change in liability in respect of business combinations
    1,531,000  
    2,023,000  
    654,000  
    Loss (gain) from sale and increase in value of marketable securities classified as trading
    149,000  
    (136,000) 
    (114,000) 
    Amortization of premium and accrued interest on marketable securities
    716,000  
    (260,000) 
    (230,000) 
    Realized loss (gain) from sale of available for sale securities
    (94,000) 
    16,000  
    (300,000) 
    Change in redeemable non-controlling interests' put option
    xsi:nil  
    1,779,000  
    905,000  
    Change in value of dividend preference derivative in TSG
    (260,000) 
    		    
    Decrease (increase) in inventories
    1,037,000  
    923,000  
    (2,387,000) 
    Increase in trade receivables
    (38,223,000) 
    (30,086,000) 
    (17,668,000) 
    Decrease (increase) in other current and long-term accounts receivable
    641,000  
    (513,000) 
    (4,154,000) 
    Increase in trade payables
    6,086,000  
    5,423,000  
    9,982,000  
    Increase in other accounts payable and employees and payroll accrual
    7,199,000  
    8,673,000  
    10,793,000  
    Increase (decrease) in deferred revenues
    15,718,000  
    (2,681,000) 
    1,693,000  
    Net cash provided by operating activities
    80,981,000  
     
    74,955,000  
     
    87,119,000  
     
    Cash flows from investing activities:
     
     
     
    Payments for business acquisitions, net of cash acquired (Appendix C)
    (119,103,000) 
    (44,832,000) 
    (17,000,000) 
    Payments to former shareholders of consolidated companies
    (6,225,000) 
    (1,784,000) 
    xsi:nil  
    Purchase of intangible assets
    xsi:nil  
    (391,000) 
    (211,000) 
    Purchase of property and equipment
    (9,573,000) 
    (9,137,000) 
    (6,766,000) 
    Proceeds from sale of (investment in) marketable securities, net
    40,622,000  
    8,450,000  
    (690,000) 
    Proceeds from sale of property, plants and equipment
    xsi:nil  
    2,347,000  
    		  
    Investment in and loans to affiliates and other companies
    (25,000) 
    (25,813,000) 
    xsi:nil  
    Change in restricted cash in other accounts receivable
    1,992,000  
    (544,000) 
    (888,000) 
    Change in short-term and long-term deposits, net
    (888,000) 
    2,665,000  
    3,942,000  
    Capitalization of software development and other costs
    (9,338,000) 
    (9,769,000) 
    (9,879,000) 
    Net cash used in investing activities
    (102,538,000) 
     
    (78,808,000) 
     
    (31,492,000) 
     
    Cash flows from financing activities:
     
     
     
    Exercise of employees stock options in subsidiaries
    3,240,000  
    931,000  
    1,987,000  
    Dividend paid to non-controlling interests and redeemable non-controlling interests in subsidiaries
    (31,231,000) 
    (24,131,000) 
    (19,088,000) 
    Dividend to Formula's shareholders
    (12,081,000) 
    (10,014,000) 
    (12,890,000) 
    Short-term bank credit, net
    (21,176,000) 
    20,720,000  
    2,862,000  
    Repayment of long-term loans from banks and others
    (46,065,000) 
    (37,415,000) 
    (26,902,000) 
    Receipt of long term loans
    52,734,000  
    49,582,000  
    32,160,000  
    Proceeds from issuance of debentures, net
    78,229,000  
    		  
    58,556,000  
    Repayment of long-term liabilities to office of the chief scientist
    (502,000) 
    (510,000) 
    (555,000) 
    Repayment of debentures
    (3,656,000) 
    xsi:nil  
    xsi:nil  
    Purchase of non-controlling interests
    xsi:nil  
    (3,166,000) 
    (5,396,000) 
    Cash paid in conjunction with acquisitions of activities
    (2,592,000) 
    (1,160,000) 
    (1,280,000) 
    Repayment of capital lease
    (480,000) 
    (443,000) 
    (399,000) 
    Distribution to ultimate parent for a business acquisition under common control
    xsi:nil  
    (1,440,000) 
    (8,482,000) 
    Net cash provided by (used in) financing activities
    16,420,000  
     
    (7,046,000) 
     
    20,573,000  
     
    Effect of exchange rate changes on cash and cash equivalents
    12,912,000  
    (81,000) 
    (6,990,000) 
    Increase (decrease) in cash and cash equivalents
    7,775,000  
    (10,980,000) 
    69,210,000  
    Cash and cash equivalents at beginning of year
    238,161,000  
    249,141,000  
    179,931,000  
    Cash and cash equivalents at end of year
    245,936,000  
     
    238,161,000  
     
    249,141,000  
     
    Supplemental cash flow information:
     
     
     
    Cash paid (received) in respect of:
     
     
     
    Interest paid
    6,448,000  
    6,770,000  
    6,158,000  
    Interest received
    (145,000) 
    (2,334,000) 
    (1,688,000) 
    Taxes paid (received), net
    19,680,000  
    19,176,000  
    23,014,000  
    Non-cash activities:
     
     
     
    Dividend payable to Formula's shareholders
    xsi:nil  
    7,070,000  
    xsi:nil  
    Purchase of property and equipment
    xsi:nil  
    (2,260,000) 
    xsi:nil  
    Deferred payment to former shareholders of consolidated companies
    652,000  
    xsi:nil  
    xsi:nil  
    Dividend payable to redeemable non-controlling interests
    692,000  
    xsi:nil  
    xsi:nil