Company name:

Switch Inc

  • IPO SHARE PRICE:
    $17.00
  • IPO DATE:
    October 06, 2017
  • TICKER:
    SWCH
  • MAIN STOCK EXCHANGE:
    NYSE
  • CURRENT HQ LOCATION:
    7135 S Decatur Boulevard Las Vegas NV 89118
  • FISCAL YEAR END:
    December 31
  • INCORPORATION JURISDICTION:
    NV
  • ORGANIZED AS THE FOLLOWING LEGAL TYPE:
    Corporation
  • Investor Relations Webpage:
    Coming soon!
  • TAX RATE:
    USA federal corporate nominal income tax rate is 21%

Short Description

Switch Inc

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Statement of Cash Flow

Quarterly Annual
(USD in thousand)
Selected Year:
31-Dec
2020
OPERATING ACTIVITIES
Cash received and spent on operating activites of business — buying materials, paying salaries, receiving payments from clients, etc
57.6% - Depreciation and amortization
15.5% - Net income (loss)
11.6% - Stock-based compensation
6.4% - Unrealized loss on interest rate swap contracts
2.7% - Accrued interest
1.8% - Deferred income taxes
1.4% - Cost of revenue for sales-type lease
0.7% - Amortization of debt original issue discount and issuance cost
0.6% - Customer deposits
0.6% - Other assets
0.5% - Amortization of portfolio energy credits
0.2% - Credit loss
0.1% - (Gain) loss on sale of property and equipment
0.1% - (Gain) loss on repayment of debt
0.0% - Accounts receivable
SOURCEs
57.6% 6.4% 11.6% 15.5%
100 %
0%
USES
94.7%
2.1% - Operating lease liabilities
1.7% - Deferred revenue
0.4% - Accrued expenses
0.4% - Prepaid expenses and other assets
0.4% - Accrued compensation and employee benefits
0.2% - Other liabilities
0.1% - Accounts payable
Selected Year:
Last Twelve Months LTM
Last Quarter Annualized LQA
Net income (loss)
$45,679
$45,679
$45,679
 $29,318 $31,542 $38,375 $38,375 $61,180
Depreciation and amortization
$45,679
$45,679
$45,679
 106,666 119,945 142,738 142,738 149,664
Amortization of portfolio energy credits
-
$45,679
$45,679
 2,467 1,844 1,316 1,316 (260)
Amortization of debt issuance costs
$45,679
$45,679
$45,679
 1,636 1,636 - - -
Amortization of debt original issue discount and issuance cost Amortization of debt original issue discount and issuance cost
-
-
-
 - - 1,840 1,840 2,332
Amortization of notes receivable discount
$45,679
$45,679
$45,679
 - - - - -
Stock-based compensation
$45,679
$45,679
$45,679
 35,733 29,524 28,733 28,733 26,332
(Recovery of) provision for doubtful accounts
-
-
-
 - (73) - - -
Provision for (recovery of) bad debt expense
$45,679
$45,679
$45,679
 207 - - - -
Income tax benefit
$45,679
-
-
 - - - - -
Other non-cash (income) expense
$45,679
-
-
 - - - - -
Deferred income taxes
-
$45,679
$45,679
 1,943 2,713 4,530 4,530 7,632
(Income) loss from equity method investments
$45,679
$45,679
$45,679
 331 - - - -
(Gain) loss on sale of property and equipment
$45,679
$45,679
$45,679
 1,206 586 362 362 316
(Gain) loss on sale of assets
$45,679
-
-
 - - - - -
Planet3 impairment
$45,679
-
-
 - - - - -
Credit loss
-
-
-
 - - 531 531 892
Impairment of equity method investment
-
$45,679
$45,679
 - - - - -
(Gain) loss on repayment of debt
$45,679
$45,679
$45,679
 - - 245 245 -
Unrealized loss on interest rate swaps
-
-
-
 - 14,014 - - -
Unrealized loss on interest rate swap contracts
-
-
-
 - - 15,927 15,927 (8,632)
Accrued interest
-
-
-
 - - 6,665 6,665 26,660
Cost of revenue for sales-type lease
-
-
-
 - 1,082 3,436 3,436 -
Accounts receivable
$45,679
$45,679
$45,679
 (187) (5,492) 15 15 (16,940)
Prepaid expenses and other assets
$45,679
$45,679
$45,679
 (1,744) (775) (1,034) (1,034) (10,888)
Other assets
$45,679
$45,679
$45,679
 (5,353) 3,447 1,439 1,439 2,372
Accounts payable
$45,679
$45,679
$45,679
 (312) (892) (186) (186) (11,580)
Accrued interest capital lease obligations
$45,679
-
-
 - - - - -
Accrued expenses
$45,679
$45,679
$45,679
 3,309 2,198 (1,105) (1,105) (8,612)
Accrued compensation and employee benefits
$45,679
$45,679
$45,679
 47 570 (944) (944) (34,096)
Accrued impact fee expense
$45,679
$45,679
$45,679
 - - - - -
Deferred revenue
$45,679
$45,679
$45,679
 2,196 12,437 (4,111) (4,111) 2,768
Operating lease liabilities
-
-
-
 - (4,886) (5,193) (5,193) (5,240)
Customer funds
$45,679
$45,679
$45,679
 1,328 868 - - -
Customer deposits
-
-
-
 - - 1,518 1,518 2,080
Other liabilities
-
$45,679
$45,679
 (230) (330) (439) (439) (476)
Net cash provided by (used in) operating activities
$45,679
$45,679
$45,679
 $178,330 $209,413 $236,240 $236,240 $187,620
Selected Year:
31-Dec
2020
INVESTING ACTIVITIES
Cash spent on acquiring plant, equipment and other businesses, cash recei0 from sale of plant, equipment and subsidiaries as well cash parked temporarily in different securities - government bonds typically
0.1% - (Purchase) sale of property and equipment
SOURCEs
99.9%
100 %
0%
USES
100.0%
100.0% - Purchase of portfolio energy credits
Selected Year:
Last Twelve Months LTM
Last Quarter Annualized LQA
(Purchases) sale of investment securities
$45,679
-
-
 - - - - -
(Purchase) sale of property and equipment
$45,679
$45,679
$45,679
 62 33 2 2 -
Purchase of portfolio energy credits
$45,679
$45,679
$45,679
 (2,608) (1,703) (2,026) (2,026) (2,580)
Purchases of intangible assets
$45,679
$45,679
$45,679
 (25) - - - -
Issuances or purchases of notes receivable
$45,679
$45,679
$45,679
 - - - - -
Acquisition or sale of an equity method investment
-
$45,679
$45,679
 - - - - -
Net cash provided by (used in) investing activities
$45,679
$45,679
$45,679
 ($278,095) ($309,382) ($349,064) ($349,064) ($394,356)
Selected Year:
31-Dec
2020
FINANCING ACTIVITIES
Items in this group are concerned with borrowing funds, repaying debt, issuing equity, buying back shares, etc.
99.4% - Borrowing
0.4% - Issuance of common stock from exercise of stock options
0.2% - Change in long-term deposit
SOURCEs
99.4%
100 %
0%
USES
25.0% 65.2%
65.2% - Repayment of borrowings including finance lease liabilities
2.9% - Cash distributions to non-controlling interest
2.8% - Repurchase of common units
2.4% - Dividends on common stock - Class A
1.0% - Debt issuance costs and original issue discount
0.6% - Employee withholding taxes paid upon settlement of restricted stock units
Selected Year:
Last Twelve Months LTM
Last Quarter Annualized LQA
Initial Public Offering (IPO) net
$45,679
-
-
 - - - - -
Issuance of common stock - Class A
-
-
$45,679
 - - - - -
Issuance of common stock from exercise of stock options Issuance of common stock from exercise of stock options
-
-
-
 - - 3,001 3,001 -
Issuance of membership units upon exercise of unit options Issuance of membership units upon exercise of unit options
$45,679
-
-
 - - - - -
Settlement of unit option loans
-
$45,679
$45,679
 314 - - - -
Borrowing
$45,679
$45,679
$45,679
 - 170,000 710,000 710,000 -
Repayment of borrowings including finance lease liabilities Repayment of borrowings including finance lease liabilities
-
-
-
 - (6,876) (465,249) (465,249) (112)
Repayment of debt and capital leases
$45,679
$45,679
$45,679
 (6,333) - - - -
Debt issuance costs and original issue discount
-
-
-
 - - (7,050) (7,050) (4,360)
Debt issuance costs
-
$45,679
$45,679
 - - - - -
New loan issuance costs
$45,679
-
-
 - - - - -
Change in long-term deposit
$45,679
$45,679
$45,679
 (996) 921 1,072 1,072 (1,676)
Employee withholding taxes paid upon excercise of stock options Employee withholding taxes paid upon excercise of stock options
$45,679
$45,679
$45,679
 - - - - -
Employee withholding taxes paid upon settlement of restricted stock units Employee withholding taxes paid upon settlement of restricted stock units
-
$45,679
$45,679
 (1,232) (1,448) (4,569) (4,569) (244)
Dividends on common stock - Class A
$45,679
$45,679
$45,679
 (2,835) (9,051) (17,329) (17,329) (23,808)
Cash distributions to non-controlling interest
-
$45,679
$45,679
 (11,615) (19,370) (21,054) (21,054) (24,512)
Distributions paid to members and non-controlling interests Distributions paid to members and non-controlling interests
$45,679
-
-
 - - - - -
Repurchase of common units
-
$45,679
$45,679
 (60,644) (91,046) (20,000) (20,000) -
Repurchase of unit options
-
$45,679
$45,679
 - - - - -
Repurchase of member options
$45,679
-
-
 - - - - -
Net cash provided by (used in) financing activities
$45,679
$45,679
$45,679
 ($83,341) $43,130 $178,822 $178,822 ($54,712)
Selected Year:
31-Dec
2020
NET CHANGE IN CASH
Grand Total for sum of cash flows coming from operations, investing and financing
$65,998,000
Selected Year:
Last Twelve Months LTM
Last Quarter Annualized LQA
Cash and equivalents - Beginning of period
$45,679
$45,679
$45,679
 $264,666 $81,560 $24,721 - $624,324
(Decrease) increase in cash and cash equivalents
$45,679
$45,679
$45,679
 (183,106) (56,839) 65,998 - (261,448)
Cash and equivalents - End of period
$45,679
$45,679
$45,679
 $81,560 $24,721 $90,719 - $362,876