SPX Technologies Inc
For the period ended Sep 28, 2024. Filed Oct 31, 2024.
View on SEC.govAbout this filing
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.
Sep 28, 2024 · Filed Oct 31, 2024
SPXC$150.12-0.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Cash Flows
(Unaudited; in millions)
| Nine months ended | ||
|---|---|---|
| September 28,2024 | September 30,2023 | |
| Cash flows from (used in) operating activities: | ||
| Net income | $143.4 | $58.4 |
| Less: Loss from discontinued operations, net of tax | (1.9) | (54.7) |
| Income from continuing operations | 145.3 | 113.1 |
| Adjustments to reconcile income from continuing operations to net cash from operating activities: | ||
| Special charges, net | 0.9 | — |
| (Gain) loss on change in fair value of equity security | 4.2 | (3.6) |
| Deferred and other income taxes | (5.5) | (22.5) |
| Depreciation and amortization | 67.9 | 46.4 |
| Pension and other employee benefits | 9.8 | 8.2 |
| Long-term incentive compensation | 11.0 | 10.0 |
| Other, net | (4.2) | (4.5) |
| Changes in operating assets and liabilities, net of effects from acquisitions and divestitures: | ||
| Accounts receivable and other assets | (44.2) | (16.7) |
| Inventories | (14.1) | (21.6) |
| Accounts payable, accrued expenses and other | (23.8) | 11.2 |
| Cash spending on restructuring actions | (0.9) | — |
| Net cash from continuing operations | 146.4 | 120.0 |
| Net cash used in discontinued operations | (27.0) | (38.0) |
| Net cash from operating activities | 119.4 | 82.0 |
| Cash flows from (used in) investing activities: | ||
| Proceeds/borrowings related to company-owned life insurance policies, net | 42.9 | 2.6 |
| Business acquisitions, net of cash acquired | (292.0) | (547.3) |
| Capital expenditures | (28.2) | (16.5) |
| Net cash used in continuing operations | (277.3) | (561.2) |
| Net cash used in discontinued operations | — | — |
| Net cash used in investing activities | (277.3) | (561.2) |
| Cash flows from (used in) financing activities: | ||
| Borrowings under senior credit facilities | 610.2 | 851.3 |
| Repayments under senior credit facilities | (462.0) | (455.0) |
| Borrowings under trade receivables arrangement | 217.0 | 81.0 |
| Repayments under trade receivables arrangement | (186.0) | (49.0) |
| Net repayments under other financing arrangements | (0.8) | (0.4) |
| Minimum withholdings paid on behalf of employees for net share settlements, net of proceeds from the exercise of employee stock options | 1.1 | (1.5) |
| Financing fees paid | (2.6) | (1.3) |
| Net cash from continuing operations | 176.9 | 425.1 |
| Net cash from discontinued operations | — | — |
| Net cash from financing activities | 176.9 | 425.1 |
| Change in cash and equivalents due to changes in foreign currency exchange rates | 5.5 | (1.0) |
| Net change in cash and equivalents | 24.5 | (55.1) |
| Consolidated cash and equivalents, beginning of period | 104.9 | 157.1 |
| Consolidated cash and equivalents, end of period | $129.4 | $102.0 |
| Nine months ended | ||
|---|---|---|
| September 28,2024 | September 30,2023 | |
| Components of cash and equivalents: | ||
| Cash and equivalents | $124.8 | $100.9 |
| Cash and equivalents included in assets of DBT and Heat Transfer | 4.6 | 1.1 |
| Total cash and equivalents | $129.4 | $102.0 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.