CARLISLE COMPANIES INC
For the period ended Dec 31, 2023. Filed Feb 16, 2024.
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FY2023 · Filed Feb 16, 2024
CSL$395.23-0.3%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
| Years Ended December 31, | |||
|---|---|---|---|
| (in millions) | 2023 | 2022 | 2021 |
| Operating activities: | |||
| Net income | $767.4 | $924.0 | $421.7 |
| Reconciliation of net income to cash flows provided by operating activities: | |||
| Depreciation | 84.3 | 96.7 | 92.1 |
| Amortization | 120.4 | 154.6 | 134.1 |
| Lease expense | 28.7 | 27.9 | 27.1 |
| Stock-based compensation | 41.5 | 31.2 | 19.4 |
| Deferred taxes | (71.7) | (33.3) | (5.4) |
| Loss (gain) on sale of discontinued operations | 82.5 | (7.0) | 8.0 |
| Other operating activities, net | 28.8 | 46.2 | 14.7 |
| Changes in assets and liabilities, excluding effects of acquisitions: | |||
| Receivables | 1.5 | (25.9) | (206.9) |
| Inventories | 158.0 | (165.2) | (136.8) |
| Contract assets | 13.7 | (18.9) | 13.1 |
| Prepaid expenses and other assets | (24.7) | 21.6 | (34.6) |
| Accounts payable | (27.0) | (60.5) | 85.4 |
| Accrued and other current liabilities | (10.1) | 20.0 | 4.6 |
| Contract liabilities | 23.4 | 27.4 | 13.1 |
| Other long-term liabilities | (15.4) | (37.9) | (27.9) |
| Net cash provided by operating activities | 1,201.3 | 1,000.9 | 421.7 |
| Investing activities: | |||
| Proceed from sale of discontinued operation, net of cash disposed | 510.6 | 132.0 | 247.7 |
| Capital expenditures | (142.2) | (183.5) | (134.8) |
| Acquisitions, net of cash acquired | (36.1) | (24.7) | (1,571.3) |
| Investment in securities | 1.1 | 10.3 | (30.2) |
| Other investing activities, net | 19.0 | 4.8 | 2.2 |
| Net cash provided by (used in) investing activities | 352.4 | (61.1) | (1,486.4) |
| Financing activities: | |||
| Proceeds from notes | — | — | 842.6 |
| Repayments of notes | (300.0) | (350.0) | — |
| Borrowings from revolving credit facility | 84.0 | — | 650.0 |
| Repayments of revolving credit facility | (84.0) | — | (650.0) |
| Repurchases of common stock | (900.0) | (400.0) | (315.6) |
| Dividends paid | (160.3) | (134.4) | (112.5) |
| Proceeds from exercise of stock options | 25.7 | 40.4 | 85.9 |
| Withholding tax paid related to stock-based compensation | (11.7) | (14.7) | (8.5) |
| Financing costs | — | — | (1.7) |
| Other financing activities, net | (3.4) | (3.3) | (2.1) |
| Net cash (used in) provided by financing activities | (1,349.7) | (862.0) | 488.1 |
| Effect of foreign currency exchange rate changes on cash and cash equivalents | 1.5 | (2.2) | (1.2) |
| Change in cash and cash equivalents | 205.5 | 75.6 | (577.8) |
| Less: change in cash and cash equivalents of discontinued operations | (6.4) | 9.9 | (26.0) |
| Cash and cash equivalents at beginning of period | 364.8 | 299.1 | 850.9 |
| Cash and cash equivalents at end of period | $576.7 | $364.8 | $299.1 |
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