AZZ INC
For the period ended Feb 28, 2025. Filed Apr 21, 2025.
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FY2025 · Filed Apr 21, 2025
AZZ$130.81-1.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
| Year Ended | |||
|---|---|---|---|
| February 28,2025 | February 29,2024 | February 28,2023 | |
| Cash flows from operating activities | |||
| Net income (loss) available to common shareholders | $52,435 | $87,207 | $(61,214) |
| Less: Net loss from discontinued operations | — | — | 119,313 |
| Plus: Dividends on Series A Preferred Stock | 1,200 | 14,400 | 8,240 |
| Plus: Redemption premium on Series A Preferred Stock | 75,198 | ||
| Net income from continuing operations | 128,833 | 101,607 | 66,339 |
| Adjustments to reconcile net income from continuing operations to net cash provided by operating activities: | |||
| Bad debt expense (recovery) | 5,058 | (67) | (58) |
| Depreciation and amortization | 82,205 | 79,423 | 74,590 |
| Deferred income taxes | 7,969 | 4,685 | 7,007 |
| Equity in earnings of unconsolidated entities | (16,163) | (15,407) | (2,597) |
| Distribution on investment in AVAIL joint venture | 12,565 | 3,113 | — |
| Loss on abandonment of long-lived assets | — | — | 135 |
| Net loss (gain) on sale of property, plant and equipment | (368) | 61 | (1,032) |
| Amortization of debt financing costs | 12,513 | 12,171 | 11,271 |
| Share-based compensation expense | 13,261 | 9,510 | 8,382 |
| Changes in current assets and current liabilities | 17,110 | 54,002 | (67,075) |
| Changes in other long-term assets and long-term liabilities | (13,074) | (4,630) | (5,532) |
| Net cash provided by operating activities of continuing operations | 249,909 | 244,468 | 91,430 |
| Cash flows from investing activities | |||
| Purchase of property, plant and equipment | (115,883) | (95,119) | (57,120) |
| Proceeds from sale of subsidiaries, net | — | — | 106,808 |
| Acquisition of subsidiaries, net of cash acquired | — | — | (1,282,730) |
| Proceeds from sale or insurance settlements of property, plant and equipment | 886 | 55 | 4,121 |
| Net cash used in investing activities of continuing operations | (114,997) | (95,064) | (1,228,921) |
| Cash flows from financing activities | |||
| Proceeds from issuance of common stock | 311,463 | 2,364 | 2,372 |
| Redemption of Series A Preferred Stock | (308,920) | — | — |
| Payments for taxes related to net share settlement of equity awards | (5,239) | (1,711) | (3,000) |
| Proceeds from Revolving Credit Facility | 326,000 | 249,000 | 380,000 |
| Payments on Revolving Credit Facility | (326,000) | (314,000) | (362,000) |
| Proceeds from long term debt | — | — | 1,540,000 |
| Payments of debt financing costs | (1,903) | (1,699) | (87,548) |
| Payments on long term debt and finance lease liabilities | (110,988) | (50,424) | (419,750) |
| Payments of dividends | (23,108) | (31,418) | (22,739) |
| Net cash provided by (used in) financing activities of continuing operations | (138,695) | (147,888) | 1,027,335 |
| Effect of exchange rate changes on cash | 922 | 13 | 505 |
| Net cash used in operating activities from discontinued operations | — | — | (21,275) |
| Net cash used in investing activities from discontinued operations | — | — | (1,336) |
| Net cash provided by financing activities from discontinued operations | — | — | 120,000 |
| Net cash provided by discontinued operations | — | — | 97,389 |
| Net increase (decrease) in cash and cash equivalents | (2,861) | 1,529 | (12,262) |
| Cash and cash equivalents at beginning of period | 4,349 | 2,820 | 15,082 |
| Cash and cash equivalents from continuing operations at end of period | $1,488 | $4,349 | $2,820 |
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