TORO CO
For the period ended Feb 2, 2024. Filed Mar 7, 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.
Feb 2, 2024 · Filed Mar 7, 2024
TTC$106.85-1.0%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)
(Dollars in millions)
| Three Months Ended | ||
|---|---|---|
| February 2, 2024 | February 3, 2023 | |
| Cash flows from operating activities: | ||
| Net earnings | $64.9 | $106.9 |
| Adjustments to reconcile net earnings to net cash used in operating activities: | ||
| Non-cash income from finance affiliate | (5.0) | (3.8) |
| Distributions from (contributions to) finance affiliate, net | 7.2 | (2.6) |
| Depreciation of property, plant, and equipment | 22.0 | 19.2 |
| Amortization of other intangible assets | 8.7 | 9.1 |
| Stock-based compensation expense | 8.4 | 5.2 |
| Other | 1.1 | — |
| Changes in operating assets and liabilities, net of the effect of acquisitions: | ||
| Receivables, net | (80.2) | (42.5) |
| Inventories, net | (86.4) | (76.8) |
| Other assets | 6.5 | (1.6) |
| Accounts payable | (10.3) | (103.6) |
| Other liabilities | (29.1) | 21.6 |
| Net cash used in operating activities | (92.2) | (68.9) |
| Cash flows from investing activities: | ||
| Purchases of property, plant, and equipment | (19.1) | (29.3) |
| Proceeds from insurance claim | — | 7.1 |
| Proceeds from asset disposals | — | 0.3 |
| Net cash used in investing activities | (19.1) | (21.9) |
| Cash flows from financing activities: | ||
| Net borrowings under the revolving credit facility1 | 155.0 | 100.0 |
| Proceeds from exercise of stock options | 1.5 | 14.0 |
| Payments of withholding taxes for stock awards | (2.2) | (2.6) |
| Dividends paid on TTC common stock | (37.6) | (35.5) |
| Other | (2.6) | (1.5) |
| Net cash provided by financing activities | 114.1 | 74.4 |
| Effect of exchange rates on cash and cash equivalents | 2.6 | 2.2 |
| Net increase (decrease) in cash and cash equivalents | 5.4 | (14.2) |
| Cash and cash equivalents as of the beginning of the fiscal period | 193.1 | 188.2 |
| Cash and cash equivalents as of the end of the fiscal period | $198.5 | $174.0 |
1 Presentation of prior year revolving credit facility and long-term debt activity has been conformed to the current year presentation. There was no change to net cash provided by financing activities.
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