TORO CO
For the period ended Aug 2, 2024. Filed Sep 5, 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.
Aug 2, 2024 · Filed Sep 5, 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)
| Nine Months Ended | ||
|---|---|---|
| August 2, 2024 | August 4, 2023 | |
| Cash flows from operating activities: | ||
| Net earnings | $329.0 | $259.4 |
| Adjustments to reconcile net earnings to net cash provided by operating activities: | ||
| Non-cash income from finance affiliate | (15.8) | (14.1) |
| Distributions from finance affiliate, net | 20.0 | 4.9 |
| Depreciation of property, plant, and equipment | 65.5 | 56.6 |
| Amortization of other intangible assets | 26.3 | 26.8 |
| Stock-based compensation expense | 19.5 | 14.4 |
| Non-cash impairment charges | — | 151.3 |
| Other | 0.1 | 0.7 |
| Changes in operating assets and liabilities, net of the effect of acquisitions: | ||
| Receivables, net | (123.5) | (52.8) |
| Inventories, net | (1.9) | (46.6) |
| Other assets | 9.6 | (74.3) |
| Accounts payable | 5.1 | (174.7) |
| Other liabilities | (4.1) | 3.1 |
| Net cash provided by operating activities | 329.8 | 154.7 |
| Cash flows from investing activities: | ||
| Purchases of property, plant, and equipment | (63.6) | (105.7) |
| Proceeds from insurance claim | 4.3 | 7.1 |
| Business combinations, net of cash acquired | — | (21.0) |
| Asset acquisition | (0.8) | — |
| Proceeds from asset disposals | 0.2 | 0.4 |
| Proceeds from divestitures | 16.5 | — |
| Net cash used in investing activities | (43.4) | (119.2) |
| Cash flows from financing activities: | ||
| Net (repayments) borrowings under the revolving credit facility1 | (40.0) | 70.0 |
| Proceeds from exercise of stock options | 8.6 | 19.4 |
| Payments of withholding taxes for stock awards | (3.9) | (3.8) |
| Purchases of TTC common stock | (109.2) | (60.0) |
| Dividends paid on TTC common stock | (112.6) | (106.5) |
| Other | (3.4) | (1.5) |
| Net cash used in financing activities | (260.5) | (82.4) |
| Effect of exchange rates on cash and cash equivalents | 2.1 | 6.6 |
| Net increase (decrease) in cash and cash equivalents | 28.0 | (40.3) |
| 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 | $221.1 | $147.9 |
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 used in financing activities.
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