WD 40 CO
For the period ended Nov 30, 2023. Filed Jan 9, 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.
Nov 30, 2023 · Filed Jan 9, 2024
WDFC$225.18+0.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
(Unaudited and in thousands)
| Three Months Ended November 30, | |||
|---|---|---|---|
| 2023 · 2022 | |||
| Operating activities: | |||
| Net income | $17,482 | $13,997 | |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 2,261 | 1,896 | |
| Net (gains) losses on sales and disposals of property and equipment | (58) | 122 | |
| Deferred income taxes | 625 | 271 | |
| Stock-based compensation | 2,271 | 2,719 | |
| Unrealized foreign currency exchange losses (gains) | 322 | (1,481) | |
| Provision for credit losses | 42 | 30 | |
| Write-off of inventories | 811 | 65 | |
| Changes in assets and liabilities: | |||
| Trade and other accounts receivable | 2,886 | 2,847 | |
| Inventories | 4,042 | (14,268) | |
| Other assets | 196 | 4,573 | |
| Operating lease assets and liabilities, net | (8) | 26 | |
| Accounts payable and accrued liabilities | (4,697) | (3,336) | |
| Accrued payroll and related expenses | (998) | 2,627 | |
| Other long-term liabilities and income taxes payable | 1,739 | 349 | |
| Net cash provided by operating activities | 26,916 | 10,437 | |
| Investing activities: | |||
| Purchases of property and equipment | (786) | (1,458) | |
| Proceeds from sales of property and equipment | 115 | 158 | |
| Net cash used in investing activities | (671) | (1,300) | |
| Financing activities: | |||
| Treasury stock purchases | (2,414) | (4,072) | |
| Dividends paid | (11,297) | (10,634) | |
| Repayments of long-term senior notes | (400) | (400) | |
| Net (repayments) proceeds from revolving credit facility | (9,713) | 3,364 | |
| Shares withheld to cover taxes upon conversions of equity awards | (678) | (600) | |
| Net cash used in financing activities | (24,502) | (12,342) | |
| Effect of exchange rate changes on cash and cash equivalents | 431 | 2,244 | |
| Net increase (decrease) in cash and cash equivalents | 2,174 | (961) | |
| Cash and cash equivalents at beginning of period | 48,143 | 37,843 | |
| Cash and cash equivalents at end of period | $50,317 | $36,882 | |
| Supplemental disclosure of noncash investing activities:Accrued capital expenditures | $190 | $315 | |
| Finance lease obligation settled with prepaid deposit | $3,855 | $ | - |
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