Andersons Inc
For the period ended Dec 31, 2023. Filed Feb 21, 2024.
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FY2023 · Filed Feb 21, 2024
ANDE$54.48-1.3%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
(In thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Operating Activities | |||
| Net income from continuing operations | $132,529 | $154,954 | $131,542 |
| Income from discontinued operations, net of income taxes | — | 12,025 | 4,324 |
| Net income | 132,529 | 166,979 | 135,866 |
| Adjustments to reconcile net income to cash provided by (used in) operating activities: | |||
| Depreciation and amortization | 125,106 | 134,742 | 178,934 |
| Bad debt expense, net | 11,519 | 6,001 | 237 |
| Stock-based compensation expense | 12,857 | 11,192 | 11,038 |
| Deferred federal income tax | (1,596) | (20,009) | (104,618) |
| Gain on sale of business from continuing operations | (5,643) | — | (14,619) |
| Asset impairment | 87,156 | 11,818 | 8,947 |
| (Gain) loss on sale of business from discontinued operations | — | (27,091) | 1,491 |
| Damaged inventory | — | 17,328 | — |
| Other | (10,698) | 14,073 | (481) |
| Changes in operating assets and liabilities: | |||
| Accounts and notes receivable | 468,968 | (391,403) | (184,002) |
| Inventories | 572,235 | 56,859 | (528,073) |
| Commodity derivatives | 111,506 | 65,399 | (107,188) |
| Other current and non-current assets | 6,529 | 10,936 | (116,403) |
| Payables and other current and non-current liabilities | (563,718) | 230,293 | 667,821 |
| Net cash provided by (used in) operating activities | 946,750 | 287,117 | (51,050) |
| Investing Activities | |||
| Acquisition of businesses, net of cash acquired | (24,698) | (20,245) | (11,425) |
| Purchases of property, plant and equipment and capitalized software | (150,443) | (108,284) | (75,766) |
| Proceeds from sale of assets | 3,506 | 5,307 | 4,508 |
| Purchase of investments | (1,730) | (2,105) | (6,243) |
| Proceeds from sale of business from continuing operations | 10,318 | 5,171 | 18,130 |
| Proceeds from sale of Rail assets | 2,871 | 36,706 | 19,150 |
| Proceeds from sale of business from discontinued operations | — | 56,302 | 543,102 |
| Purchases of Rail assets | — | (31,458) | (6,039) |
| Other | 6,297 | 5,704 | 1,831 |
| Net cash (used in) provided by investing activities | (153,879) | (52,902) | 487,248 |
| Financing Activities | |||
| Net (payments) receipts under short-term lines of credit | (233,696) | (21,273) | (105,895) |
| Proceeds from issuance of short-term debt | — | 350,000 | 608,250 |
| Payments of short-term debt | — | (550,000) | (408,250) |
| Proceeds from issuance of long-term debt | 100,000 | — | 203,000 |
| Payments of long-term debt | (49,620) | (30,045) | (530,733) |
| Distributions to noncontrolling interest owner | (46,418) | (44,910) | (25) |
| Dividends paid | (25,373) | (24,609) | (23,746) |
| Common stock repurchased | (1,747) | (12,721) | — |
| Other | (7,139) | (1,172) | 8,630 |
| Net cash used in financing activities | (263,993) | (334,730) | (248,769) |
| Effect of exchange rates on cash and cash equivalents | (293) | (660) | (108) |
| Increase (decrease) in Cash and cash equivalents | 528,585 | (101,175) | 187,321 |
| Cash and cash equivalents at beginning of year | 115,269 | 216,444 | 29,123 |
| Cash and cash equivalents at end of year | $643,854 | $115,269 | $216,444 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.