CURTISS WRIGHT CORP
For the period ended Mar 31, 2024. Filed May 2, 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.
Mar 31, 2024 · Filed May 2, 2024
CW$477.92-0.9%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows
| Three Months Ended | ||
|---|---|---|
| March 31, | ||
| (In thousands) | 2024 | 2023 |
| Cash flows from operating activities: | ||
| Net earnings | $76,495 | $56,846 |
| Adjustments to reconcile net earnings to net cash used for operating activities: | ||
| Depreciation and amortization | 26,983 | 28,927 |
| Loss on sale/disposal of long-lived assets | 21 | 93 |
| Deferred income taxes | (2,742) | (2,619) |
| Share-based compensation | 4,695 | 5,179 |
| Change in operating assets and liabilities, net of businesses acquired: | ||
| Receivables, net | (47,742) | 6,114 |
| Inventories, net | (45,851) | (42,897) |
| Accounts payable and accrued expenses | (34,816) | (85,442) |
| Deferred revenue | (5,776) | (8,252) |
| Pension and postretirement liabilities, net | (4,733) | (4,946) |
| Other current and long-term assets and liabilities | (12,167) | (44,602) |
| Net cash used for operating activities | (45,633) | (91,599) |
| Cash flows from investing activities: | ||
| Proceeds from sale/disposal of long-lived assets | 41 | 224 |
| Additions to property, plant, and equipment | (12,055) | (10,661) |
| Net cash used for investing activities | (12,014) | (10,437) |
| Cash flows from financing activities: | ||
| Borrowings under revolving credit facility | 4,879 | 465,025 |
| Payment of revolving credit facility | (4,879) | (286,825) |
| Principal payments on debt | — | (202,500) |
| Repurchases of common stock | (12,190) | (12,386) |
| Proceeds from share-based compensation | 5,472 | 5,225 |
| Other | (288) | (268) |
| Net cash used for financing activities | (7,006) | (31,729) |
| Effect of exchange-rate changes on cash | (4,180) | 7,450 |
| Net decrease in cash and cash equivalents | (68,833) | (126,315) |
| Cash and cash equivalents at beginning of period | 406,867 | 256,974 |
| Cash and cash equivalents at end of period | $338,034 | $130,659 |
| See notes to condensed consolidated financial statements | ||
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