OLIN Corp
For the period ended Dec 31, 2023. Filed Feb 22, 2024.
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FY2023 · Filed Feb 22, 2024
OLN$17.50-0.3%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
(In millions)
| Years Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Operating Activities | |||
| Net income | $452.0 | $1,326.9 | $1,296.7 |
| Adjustments to reconcile net income to net cash and cash equivalents provided by (used for) operating activities: | |||
| Depreciation and amortization | 533.4 | 598.8 | 582.5 |
| Gains on disposition of property, plant and equipment | (27.0) | (13.0) | (1.4) |
| Stock-based compensation | 18.6 | 14.1 | 8.3 |
| Loss on debt extinguishment | — | — | 152.2 |
| Write-off of equipment and facility included in restructuring charges | 17.7 | — | — |
| Deferred income taxes | (55.6) | (32.4) | (42.7) |
| Qualified pension plan contributions | (1.1) | (1.3) | (1.1) |
| Qualified pension plan income | (21.0) | (33.1) | (27.8) |
| Change in assets and liabilities: | |||
| Receivables | 65.4 | 160.8 | (360.0) |
| Income taxes receivable/payable | 45.8 | (2.9) | 105.1 |
| Inventories | 94.4 | (86.3) | (206.0) |
| Other current assets | (3.1) | 15.9 | (22.3) |
| Accounts payable and accrued liabilities | (133.9) | (22.3) | 240.1 |
| Other assets | (23.4) | (2.6) | (13.3) |
| Other noncurrent liabilities | 15.8 | (0.7) | 26.2 |
| Other operating activities | (3.7) | — | 4.5 |
| Net operating activities | 974.3 | 1,921.9 | 1,741.0 |
| Investing Activities | |||
| Capital expenditures | (236.0) | (236.9) | (200.6) |
| Business acquired in purchase transaction, net of cash acquired | (63.9) | — | — |
| Payments under other long-term supply contracts | (64.5) | (37.7) | — |
| Proceeds from disposition of property, plant and equipment | 28.8 | 14.9 | 3.2 |
| Other investing activities | (5.2) | — | — |
| Net investing activities | (340.8) | (259.7) | (197.4) |
| Financing Activities | |||
| Long-term debt: | |||
| Borrowings | 707.7 | 415.0 | 540.0 |
| Repayments | (621.8) | (616.1) | (1,643.1) |
| Debt early redemption premiums | — | — | (137.7) |
| Common stock repurchased and retired | (711.3) | (1,350.7) | (251.9) |
| Stock options exercised | 25.4 | 25.7 | 72.4 |
| Dividends paid | (101.0) | (116.2) | (127.8) |
| Debt issuance costs | — | (4.4) | (3.9) |
| Contributions received from noncontrolling interests | 44.1 | — | — |
| Net financing activities | (656.9) | (1,646.7) | (1,552.0) |
| Effect of exchange rate changes on cash and cash equivalents | (0.3) | (2.0) | (0.8) |
| Net (decrease) increase in cash and cash equivalents | (23.7) | 13.5 | (9.2) |
| Cash and cash equivalents, beginning of year | 194.0 | 180.5 | 189.7 |
| Cash and cash equivalents, end of year | $170.3 | $194.0 | $180.5 |
| Cash paid for interest and income taxes: | |||
| Interest, net | $176.8 | $141.7 | $345.2 |
| Income taxes, net of refunds | 111.7 | 356.6 | 169.6 |
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