ITRON INC
For the period ended Dec 31, 2024. Filed Feb 25, 2025.
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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 Feb 25, 2025
ITRI$99.58-0.4%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
| Year Ended December 31, | |||
|---|---|---|---|
| In thousands | 2024 | 2023 | 2022 |
| Operating activities | |||
| Net income (loss) | $241,124 | $98,318 | $(9,547) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
| Depreciation and amortization of intangible assets | 56,277 | 55,763 | 66,763 |
| Non-cash operating lease expense | 20,597 | 16,454 | 16,257 |
| Stock-based compensation | 43,874 | 28,357 | 21,881 |
| Amortization of prepaid debt fees | 5,489 | 3,664 | 3,499 |
| Deferred taxes, net | (38,791) | (34,646) | (32,635) |
| Loss on sale of business | 597 | 667 | 3,505 |
| Goodwill impairment | — | — | 38,480 |
| Restructuring, non-cash | (191) | 385 | (624) |
| Other adjustments, net | (895) | (169) | 11,678 |
| Changes in operating assets and liabilities, net of acquisitions and sale of business: | |||
| Accounts receivable | (49,138) | (19,494) | 5,064 |
| Inventories | 5,969 | (52,118) | (68,124) |
| Other current assets | 15,165 | (42,410) | (16,695) |
| Other long-term assets | (6,789) | 2,317 | (5,436) |
| Accounts payable, other current liabilities, and taxes payable | (35,388) | (43,657) | 45,085 |
| Wages and benefits payable | 3,784 | 44,700 | (21,749) |
| Unearned revenue | 29,319 | 28,329 | 18,466 |
| Warranty | 210 | (3,778) | (5,497) |
| Restructuring | (31,011) | 29,866 | (40,981) |
| Other operating, net | (22,027) | 12,423 | (4,890) |
| Net cash provided by operating activities | 238,175 | 124,971 | 24,500 |
| Investing activities | |||
| Net proceeds (payments) related to the sale of business | 405 | (772) | 55,933 |
| Acquisitions of property, plant, and equipment | (30,562) | (26,884) | (19,747) |
| Business acquisitions, net of cash and cash equivalents acquired | (34,105) | — | 23 |
| Other investing, net | 850 | 4,348 | 4,307 |
| Net cash provided by (used in) investing activities | (63,412) | (23,308) | 40,516 |
| Financing activities | |||
| Proceeds from borrowings | 805,000 | — | — |
| Issuance of common stock | 8,321 | 3,674 | 3,452 |
| Payments on call spread for convertible offering | (108,997) | — | — |
| Repurchase of common stock | (100,000) | — | (16,972) |
| Prepaid debt fees | (21,872) | (2,471) | (697) |
| Other financing, net | (2,879) | (4,711) | (4,520) |
| Net cash provided by (used in) financing activities | 579,573 | (3,508) | (18,737) |
| Effect of foreign exchange rate changes on cash and cash equivalents | (5,148) | 1,887 | (6,851) |
| Increase in cash and cash equivalents | 749,188 | 100,042 | 39,428 |
| Cash and cash equivalents at beginning of period | 302,049 | 202,007 | 162,579 |
| Cash and cash equivalents at end of period | $1,051,237 | $302,049 | $202,007 |
| Supplemental disclosure of cash flow information: | |||
| Cash paid during the period for: | |||
| Income taxes, net | $80,172 | $54,550 | $11,915 |
| Interest | 1,342 | 1,832 | 1,622 |
| Non-cash operating, investing and financing activities: | |||
| Deferred tax effect of call spread offerings | $26,693 | $— | $— |
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