APOGEE ENTERPRISES INC
For the period ended Jun 1, 2024. Filed Jul 9, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 1, 2024 · Filed Jul 9, 2024
APOG$48.05+5.0%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows
| Three Months Ended | ||
|---|---|---|
| (In thousands) | June 1, 2024 | May 27, 2023 |
| Operating Activities | ||
| Net earnings | $31,011 | $23,576 |
| Adjustments to reconcile net earnings to net cash provided by operating activities: | ||
| Depreciation and amortization | 9,976 | 10,282 |
| Share-based compensation | 2,704 | 2,178 |
| Deferred income taxes | 3,466 | (165) |
| Loss (gain) on disposal of property, plant and equipment | 22 | (27) |
| Non-cash lease expense | 2,895 | 2,714 |
| Other, net | (925) | (432) |
| Changes in operating assets and liabilities: | ||
| Receivables | (9,845) | (13,476) |
| Inventories | (11,337) | (2,068) |
| Contract assets | 5,511 | 14,368 |
| Accounts payable | (1,871) | (8,390) |
| Accrued compensation and benefits | (24,850) | (13,312) |
| Contract liabilities | 1,648 | 8,158 |
| Operating lease liability | (3,007) | (3,101) |
| Accrued income taxes | 6,535 | 7,590 |
| Other current assets and liabilities | (6,480) | (6,608) |
| Net cash provided by operating activities | 5,453 | 21,287 |
| Investing Activities | ||
| Capital expenditures | (7,229) | (7,398) |
| Proceeds from sales of property, plant and equipment | 40 | 66 |
| Purchases of marketable securities | (740) | — |
| Sales/maturities of marketable securities | 600 | 400 |
| Net cash used by investing activities | (7,329) | (6,932) |
| Financing Activities | ||
| Proceeds from revolving credit facilities | 30,000 | 105,852 |
| Repayments on revolving credit facilities | (15,000) | (105,000) |
| Repurchase of common stock | (15,061) | (5,193) |
| Dividends paid | — | (5,245) |
| Other, net | (4,865) | (1,677) |
| Net cash used by financing activities | (4,926) | (11,263) |
| Effect of exchange rates on cash | (51) | 77 |
| (Decrease) increase in cash and cash equivalents | (6,853) | 3,169 |
| Cash and cash equivalents at beginning of period | 37,216 | 21,473 |
| Cash and cash equivalents at end of period | $30,363 | $24,642 |
| Non-cash Activity | ||
| Capital expenditures in accounts payable | $472 | $2,115 |
| Dividends declared but not yet paid | $5,409 | $— |
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