TORO CO
For the period ended Oct 31, 2024. Filed Dec 18, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Dec 18, 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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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
(Dollars in millions)
| Fiscal Years Ended October 31 | 2024 | 2023 | 2022 |
|---|---|---|---|
| Cash flows from operating activities: | |||
| Net earnings | $418.9 | $329.7 | $443.3 |
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||
| Non-cash income from finance affiliate | (20.8) | (19.2) | (8.8) |
| Distributions from (contributions to) finance affiliate, net | 22.2 | 7.9 | (9.9) |
| Depreciation of property, plant, and equipment | 93.7 | 83.5 | 74.9 |
| Amortization of other intangible assets | 34.5 | 35.7 | 33.9 |
| Stock-based compensation expense | 23.0 | 19.4 | 22.1 |
| Deferred income taxes | (27.9) | (47.9) | (12.3) |
| Non-cash impairment charges | — | 151.3 | — |
| Other | (2.9) | (0.2) | (0.1) |
| Changes in operating assets and liabilities, net of the effect of acquisitions: | |||
| Receivables, net | (53.1) | (71.6) | (19.3) |
| Inventories, net | 27.5 | (26.7) | (285.9) |
| Other assets | 19.9 | 17.8 | (30.2) |
| Accounts payable | 24.3 | (149.9) | 66.3 |
| Other liabilities | 10.6 | (23.0) | 23.2 |
| Net cash provided by operating activities | 569.9 | 306.8 | 297.2 |
| Cash flows from investing activities: | |||
| Purchases of property, plant and equipment | (103.5) | (149.5) | (143.5) |
| Proceeds from insurance claim | 4.3 | 7.1 | — |
| Business combinations, net of cash acquired | — | (21.0) | (402.4) |
| Asset acquisitions | (0.8) | — | (7.2) |
| Proceeds from asset disposals | 0.3 | 0.4 | 0.2 |
| Proceeds from divestitures | 40.0 | 5.3 | 4.6 |
| Net cash used in investing activities | (59.7) | (157.7) | (548.3) |
| Cash flows from financing activities: | |||
| Net (repayments) borrowings under the revolving credit facility | (40.0) | 40.0 | — |
| Long-term debt borrowings | — | — | 300.0 |
| Long-term debt repayments | (70.0) | — | — |
| Proceeds from exercise of stock options | 9.1 | 19.7 | 10.3 |
| Payments of withholding taxes for stock awards | (3.9) | (3.8) | (2.4) |
| Purchases of TTC common stock | (245.5) | (60.0) | (140.0) |
| Dividends paid on TTC common stock | (149.5) | (141.9) | (125.7) |
| Other | (5.3) | (1.5) | — |
| Net cash (used in) provided by financing activities | (505.1) | (147.5) | 42.2 |
| Effect of exchange rates on cash and cash equivalents | 1.3 | 3.3 | (8.5) |
| Net increase (decrease) in cash and cash equivalents | 6.4 | 4.9 | (217.4) |
| Cash and cash equivalents as of the beginning of the fiscal period | 193.1 | 188.2 | 405.6 |
| Cash and cash equivalents as of the end of the fiscal period | $199.5 | $193.1 | $188.2 |
| Supplemental disclosures of cash flow information: | |||
| Cash paid during the fiscal year for: | |||
| Interest | $63.0 | $61.1 | $30.5 |
| Income taxes | $91.7 | $165.2 | $120.5 |
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