FRP HOLDINGS, INC.
For the period ended Dec 31, 2024. Filed Mar 18, 2025.
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FY2024 · Filed Mar 18, 2025
FRPH$19.00-4.2%Stored close · as of Nov 10, 2026
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Consolidated statements of cash flows
CONSOLIDATED STATEMENTS OF CASH FLOWS – Years ended December 31
(In thousands)
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Cash flows from operating activities: | |||
| Net income | $6,460 | 4,882 | 4,047 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation, depletion and amortization | 10,390 | 10,975 | 11,462 |
| Deferred income taxes | (1,768) | 1,496 | 1,813 |
| Equity in loss of joint ventures | 11,359 | 11,937 | 5,721 |
| Gain on sale of equipment and property | (209) | (14) | (904) |
| Stock-based compensation | 1,957 | 1,738 | 1,569 |
| Net changes in operating assets and liabilities: | |||
| Accounts receivable | (306) | 120 | (373) |
| Deferred costs and other assets | 964 | (499) | (1,972) |
| Accounts payable and accrued liabilities | (795) | 3,028 | (276) |
| Income taxes payable and receivable | 948 | (355) | 1,121 |
| Other long-term liabilities | (14) | (337) | 130 |
| Net cash provided by operating activities | 28,986 | 32,971 | 22,338 |
| Cash flows from investing activities: | |||
| Investments in properties | (51,194) | (11,217) | (27,615) |
| Investments in joint ventures | (16,372) | (46,693) | (21,578) |
| Return of capital from investments in joint ventures | 17,176 | 9,210 | 20,770 |
| Proceeds from sales of investments available for sale | — | — | 4,317 |
| Cash held in escrow | (455) | (63) | (45) |
| Proceeds from sale of assets | 224 | 16 | 955 |
| Net cash (used in) provided by investing activities | (50,621) | (48,747) | (23,196) |
| Cash flows from financing activities: | |||
| Contribution from noncontrolling interest | 15,706 | — | 27,894 |
| Distribution to noncontrolling interests | (3,227) | (3,190) | (11,472) |
| Repurchase of Company stock | — | (2,000) | — |
| Exercise of employee stock options | 221 | 1,024 | 412 |
| Net cash (used in) provided by financing activities | 12,700 | (4,166) | 16,834 |
| Net (decrease) increase in cash and cash equivalents | (8,935) | (19,942) | 15,976 |
| Cash and cash equivalents at beginning of year | 157,555 | 177,497 | 161,521 |
| Cash and cash equivalents at end of the year | $148,620 | 157,555 | 177,497 |
| Supplemental disclosures of cash flow information: | |||
| Cash paid (received) during the year for: | |||
| Interest | $2,971 | 4,165 | 2,893 |
| Income taxes | $2,790 | 927 | (1,761) |
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