SIFCO INDUSTRIES INC
For the period ended Sep 30, 2023. Filed Jan 2, 2024.
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FY2023 · Filed Jan 2, 2024
SIF$16.64-3.0%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
| Years Ended September 30, | ||
|---|---|---|
| 2023 | 2022 | |
| Cash flows from operating activities: | ||
| Net (loss) | $(8,692) | $(9,640) |
| Adjustments to reconcile net (loss) to net cash (used in) provided by operating activities: | ||
| Depreciation and amortization | 6,404 | 6,348 |
| Amortization of debt issuance costs | 44 | 40 |
| (Gain) loss on disposal of operating assets | 1 | (7) |
| Loss on insurance proceeds received for damaged property | 60 | — |
| Gain on extinguishment of debt | — | (5,106) |
| Inventory valuation accounts | (1,149) | 1,639 |
| LIFO effect | (305) | 729 |
| Share transactions under employee stock plan | 304 | 322 |
| Deferred income taxes | 5 | (48) |
| Other long-term liabilities | 269 | 19 |
| Changes in operating assets and liabilities: | ||
| Receivables | (3,304) | 2,633 |
| Contract assets | 81 | 2,702 |
| Inventories | 1,872 | 443 |
| Refundable income taxes | 13 | 4 |
| Prepaid expenses and other current assets | (76) | (138) |
| Other assets | 60 | (4) |
| Accounts payable | 2,575 | 808 |
| Accrued liabilities | 322 | (419) |
| Accrued income tax and other | 153 | (27) |
| Net cash (used in) provided by operating activities | (1,363) | 298 |
| Cash flows from investing activities: | ||
| Proceeds from disposal of property, plant and equipment | 20 | 7 |
| Capital expenditures | (2,454) | (3,199) |
| Net cash used for investing activities | (2,434) | (3,192) |
| Cash flows from financing activities: | ||
| Proceeds from term note | — | 261 |
| Proceeds from long term debt | — | 2,245 |
| Repayments of long-term debt | (1,086) | (1,243) |
| Proceeds from revolving credit agreement | 80,041 | 79,802 |
| Repayments of revolving credit agreement | (74,915) | (77,569) |
| Proceeds from short-term debt borrowings | 5,483 | 4,132 |
| Repayments of short-term debt borrowings | (6,642) | (3,894) |
| Net cash provided by financing activities | 2,881 | 3,734 |
| Increase (decrease) in cash and cash equivalents | (916) | 840 |
| Cash and cash equivalents at beginning of year | 1,174 | 346 |
| Effects of exchange rate changes on cash and cash equivalents | 110 | (12) |
| Cash and cash equivalents at end of year | $368 | $1,174 |
Supplemental disclosure of Cash Flow Information
| Years Ended September 30, | ||
|---|---|---|
| 2023 | 2022 | |
| Cash paid during the year: | ||
| Cash paid for interest | $(1,324) | $(585) |
| Cash paid for income tax, net | $(16) | $(19) |
| Non-cash investing and financing activities: | ||
| Additions to property, plant & equipment - incurred but not yet paid | $230 | $372 |
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