REGAL REXNORD CORP
For the period ended Dec 31, 2023. Filed Feb 26, 2024.
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FY2023 · Filed Feb 26, 2024
RRX$179.96-0.5%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
(Dollars in Millions)
| For the Year Ended | |||
|---|---|---|---|
| December 31,2023 | December 31,2022 | January 1,2022 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||
| Net (Loss) Income | $(54.3) | $494.9 | $235.8 |
| Adjustments to Reconcile Net (Loss) Income to Net Cash Provided by Operating Activities (Net of Acquisitions and Divestitures): | |||
| Depreciation | 185.0 | 121.9 | 93.2 |
| Amortization | 307.8 | 185.5 | 77.4 |
| Goodwill Impairment | 57.3 | — | 33.0 |
| Asset Impairments | 7.8 | 0.9 | 5.6 |
| Loss on Assets Held for Sale | 87.7 | — | — |
| Noncash Lease Expense | 42.9 | 31.9 | 26.1 |
| Share-Based Compensation Expense | 58.2 | 22.5 | 24.9 |
| Financing Fee Expense | 32.8 | 19.6 | 19.2 |
| Early Debt Extinguishment Charge | — | — | 12.7 |
| Benefit from Deferred Income Taxes | (115.3) | (80.1) | (8.7) |
| Other Non-Cash Changes | 9.0 | 2.7 | 1.0 |
| Change in Operating Assets and Liabilities, Net of Acquisitions and Divestitures | |||
| Receivables | 51.7 | (38.1) | (154.5) |
| Inventories | 262.6 | (174.4) | (174.4) |
| Accounts Payable | (70.1) | (129.5) | 156.6 |
| Other Assets and Liabilities | (147.8) | (21.6) | 9.8 |
| Net Cash Provided by Operating Activities | 715.3 | 436.2 | 357.7 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||
| Additions to Property, Plant and Equipment | (119.1) | (83.8) | (54.5) |
| Business Acquisitions, Net of Cash Acquired | (4,870.2) | (35.0) | (125.5) |
| Proceeds Received from Sales of Property, Plant and Equipment | 6.3 | 5.5 | 4.3 |
| Net Cash Used in Investing Activities | (4,983.0) | (113.3) | (175.7) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||
| Borrowings Under Revolving Credit Facility | 2,294.1 | 2,119.6 | 1,475.7 |
| Repayments Under Revolving Credit Facility | (2,625.0) | (2,427.3) | (739.0) |
| Proceeds from Short-Term Borrowings | 58.0 | 10.2 | 17.2 |
| Repayments of Short-Term Borrowings | (61.2) | (9.1) | (15.7) |
| Proceeds from Long-Term Borrowings | 5,532.9 | 1,536.8 | — |
| Repayments of Long-Term Borrowings | (826.3) | (1,123.7) | (451.1) |
| Dividends Paid to Shareholders | (92.8) | (90.9) | (335.6) |
| Proceeds from the Exercise of Stock Options | 3.3 | 5.1 | 2.6 |
| Shares Surrendered for Taxes | (12.1) | (8.9) | (8.9) |
| Early Debt Extinguishment Payments | — | — | (12.7) |
| Financing Fees Paid | (51.1) | (40.6) | (19.8) |
| Repurchase of Common Stock | — | (239.2) | (25.8) |
| Distributions to Noncontrolling Interests | (16.2) | (6.2) | (4.5) |
| Net Cash Provided by (Used in) Financing Activities | 4,203.6 | (274.2) | (117.6) |
| EFFECT OF EXCHANGE RATES ON CASH and CASH EQUIVALENTS | 10.9 | (33.0) | (2.9) |
| Net (Decrease) Increase in Cash and Cash Equivalents | (53.2) | 15.7 | 61.5 |
| Cash and Cash Equivalents at Beginning of Period | 688.5 | 672.8 | 611.3 |
| Cash and Cash Equivalents at End of Period | $635.3 | $688.5 | $672.8 |
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | |||
| Cash Paid For: | |||
| Interest | $319.6 | $66.7 | $35.2 |
| Income Taxes | 206.9 | $187.6 | $103.1 |
| Non-Cash Investing: Issuance of Common Stock and Replacement Equity-Based Awards in Connection with Rexnord Transaction | — | $— | $3,943.4 |
| Cash and Cash Equivalents Presentation: | |||
| Cash and Cash Equivalents | $574.0 | $688.5 | 672.8 |
| Assets Held for Sale | 61.3 | — | — |
| Total Cash and Cash Equivalents | $635.3 | $688.5 | $672.8 |
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