HORMEL FOODS CORP DE
For the period ended Jul 28, 2024. Filed Sep 4, 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.
Jul 28, 2024 · Filed Sep 4, 2024
HRL$22.21-0.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Condensed Statements of Cash Flows
| Nine Months Ended | ||
|---|---|---|
| In thousands | July 28, 2024 | July 30, 2023 |
| Operating Activities | ||
| Net Earnings | $584,671 | $597,437 |
| Adjustments to Reconcile to Net Cash Provided by (Used in) Operating Activities: | ||
| Depreciation and Amortization | 191,354 | 187,326 |
| Equity in Earnings of Affiliates | (39,250) | (42,213) |
| Distributions Received from Equity Method Investees | 32,997 | 28,160 |
| Provision for Deferred Income Taxes | (1,422) | (273) |
| Non-cash Investment Activities | (20,502) | (12,047) |
| Stock-based Compensation Expense | 20,112 | 20,946 |
| Operating Lease Cost | 27,869 | 16,497 |
| Other Non-cash, Net | 18,510 | 12,295 |
| Changes in Operating Assets and Liabilities: | ||
| Decrease (Increase) in Accounts Receivable | 89,428 | 81,423 |
| Decrease (Increase) in Inventories | 30,596 | (20,536) |
| Decrease (Increase) in Prepaid Expenses and Other Assets | (7,719) | (52,117) |
| Increase (Decrease) in Pension and Post-retirement Benefits | 32,042 | 29,571 |
| Increase (Decrease) in Accounts Payable and Accrued Expenses | (95,374) | (131,204) |
| Increase (Decrease) in Net Income Taxes Payable | (5,196) | 13,491 |
| Net Cash Provided by (Used in) Operating Activities | 858,117 | 728,756 |
| Investing Activities | ||
| Net Sale (Purchase) of Securities | (6,106) | (49) |
| Purchases of Property, Plant, and Equipment | (172,656) | (168,529) |
| Proceeds from Sales of Property, Plant, and Equipment | 432 | 5,306 |
| Proceeds from (Purchases of) Affiliates and Other Investments | (6,681) | (427,195) |
| Proceeds from Company-owned Life Insurance | 8,112 | 1,980 |
| Net Cash Provided by (Used in) Investing Activities | (176,899) | (588,489) |
| Financing Activities | ||
| Proceeds from Long-term Debt | 497,765 | 1,980 |
| Payment of Debt Issuance Costs | (1,105) | — |
| Repayments of Long-term Debt and Finance Leases | (956,797) | (6,584) |
| Dividends Paid on Common Stock | (459,978) | (442,560) |
| Share Repurchase | — | (12,303) |
| Proceeds from Exercise of Stock Options | 33,784 | 8,489 |
| Proceeds from Noncontrolling Interest | 6,508 | — |
| Net Cash Provided by (Used in) Financing Activities | (879,823) | (450,977) |
| Effect of Exchange Rate Changes on Cash | (453) | (2,273) |
| Increase (Decrease) in Cash and Cash Equivalents | (199,057) | (312,983) |
| Cash and Cash Equivalents at Beginning of Year | 736,532 | 982,107 |
| Cash and Cash Equivalents at End of Period | $537,476 | $669,124 |
| Supplemental Non-cash Financing and Investing Activities: | ||
| Purchases of property, plant, and equipment included in accounts payable | $18,635 | $2,527 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.