HAWKINS INC
For the period ended Mar 31, 2024. Filed May 15, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed May 15, 2024
HWKN$153.00-1.1%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
| Fiscal Year Ended | |||
|---|---|---|---|
| March 31, 2024 | April 2, 2023 | April 3, 2022 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||
| Net income | $75,363 | $60,041 | $51,542 |
| Reconciliation to cash flows provided by operating activities: | |||
| Depreciation and amortization | 31,803 | 27,440 | 24,129 |
| Change in fair value of earnout liability | 571 | — | — |
| Operating leases | 2,708 | 1,971 | 1,899 |
| (Gain) loss on deferred compensation assets | (1,391) | 334 | (189) |
| Deferred income taxes | (1,459) | (232) | (1,501) |
| Stock compensation expense | 4,880 | 3,825 | 3,818 |
| (Gain) loss from asset disposals | (85) | (2,950) | 452 |
| Other | 87 | 87 | 93 |
| Changes in operating accounts (using) providing cash, net of acquisitions: | |||
| Trade receivables | 21,399 | (6,389) | (30,526) |
| Inventories | 19,921 | 4,717 | (30,034) |
| Accounts payable | (828) | (11,596) | 25,138 |
| Accrued liabilities | 10,708 | (737) | 2,723 |
| Lease liabilities | (2,676) | (1,958) | (1,907) |
| Income taxes | (1,390) | 3,290 | 214 |
| Other | (112) | (443) | (3,014) |
| Net cash provided by operating activities | 159,499 | 77,400 | 42,837 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||
| Additions to property, plant, and equipment | (40,151) | (48,321) | (28,512) |
| Acquisitions | (83,455) | — | (21,546) |
| Proceeds from asset disposals | 1,102 | 7,091 | 302 |
| Net cash used in investing activities | (122,504) | (41,230) | (49,756) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||
| Cash dividends paid | (13,238) | (12,001) | (11,056) |
| New shares issued | 2,242 | 2,008 | 1,772 |
| Shares surrendered for payroll taxes | (2,140) | (1,550) | (1,467) |
| Shares repurchased | (11,272) | (6,557) | (8,545) |
| Payments for debt issuance costs | — | — | (287) |
| Payments on senior secured revolving loan | (98,000) | (59,000) | (15,000) |
| Borrowings on senior secured revolving loan | 85,000 | 45,000 | 42,000 |
| Net cash (used in) provided by financing activities | (37,408) | (32,100) | 7,417 |
| NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | (413) | 4,070 | 498 |
| CASH AND CASH EQUIVALENTS - beginning of year | 7,566 | 3,496 | 2,998 |
| CASH AND CASH EQUIVALENTS - end of year | $7,153 | $7,566 | $3,496 |
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION- | |||
| Cash paid during the year for income taxes | $28,631 | $19,485 | $19,726 |
| Cash paid for interest | 4,654 | 4,759 | 1,197 |
| Noncash investing activities - Capital expenditures in accounts payable | 2,697 | 2,340 | 3,733 |
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