INTERFACE INC
For the period ended Dec 31, 2023. Filed Feb 28, 2024.
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FY2023 · Filed Feb 28, 2024
TILE$31.88-0.3%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
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
| FISCAL YEAR | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| OPERATING ACTIVITIES: | |||
| Net income | $44,517 | $19,560 | $55,234 |
| Adjustments to reconcile net income to cash provided by operating activities: | |||
| Depreciation and amortization | 40,774 | 40,337 | 46,345 |
| Share-based compensation expense | 10,265 | 8,527 | 5,467 |
| (Gain) loss on disposal of property, plant and equipment, net | (2,252) | 4,319 | 4,427 |
| Loss on foreign subsidiary liquidation | 6,221 | — | — |
| Bad debt expense | 53 | 26 | (263) |
| Deferred income taxes and other | (8,809) | 13,414 | (16,379) |
| Amortization of acquired intangible assets | 5,172 | 5,038 | 5,636 |
| Goodwill and intangible asset impairment | — | 36,180 | — |
| Working capital changes: | |||
| Accounts receivable | 21,798 | (17,489) | (36,096) |
| Inventories | 31,040 | (49,651) | (47,074) |
| Prepaid expenses and other current assets | (302) | 7,020 | (4,800) |
| Accounts payable and accrued expenses | (6,443) | (24,220) | 74,192 |
| Cash provided by operating activities | 142,034 | 43,061 | 86,689 |
| INVESTING ACTIVITIES: | |||
| Capital expenditures | (26,107) | (18,437) | (28,071) |
| Proceeds from sale of property, plant and equipment | 6,593 | — | — |
| Cash used in investing activities | (19,514) | (18,437) | (28,071) |
| FINANCING ACTIVITIES: | |||
| Revolving loan borrowing | 90,000 | 206,031 | 76,000 |
| Revolving loan repayments | (114,381) | (189,281) | (71,500) |
| Term loan repayments | (80,927) | (13,191) | (60,485) |
| Repurchase of common stock | — | (17,171) | — |
| Dividends paid | (2,323) | (2,355) | (2,362) |
| Tax withholding payments for share-based compensation | (1,514) | (402) | (193) |
| Debt issuance costs | — | (1,032) | (36) |
| Finance lease payments | (2,419) | (2,089) | (2,282) |
| Cash used in financing activities | (111,564) | (19,490) | (60,858) |
| Net cash provided by (used in) operating, investing and financing activities | 10,956 | 5,134 | (2,240) |
| Effect of exchange rate changes on cash | 1,978 | (4,822) | (3,561) |
| CASH AND CASH EQUIVALENTS: | |||
| Net increase (decrease) | 12,934 | 312 | (5,801) |
| Balance, beginning of year | 97,564 | 97,252 | 103,053 |
| Balance, end of year | $110,498 | $97,564 | $97,252 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.