TREDEGAR CORP
For the period ended Dec 31, 2023. Filed Mar 15, 2024.
View on SEC.govAbout this filing
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.
FY2023 · Filed Mar 15, 2024
TG$5.79-1.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Years Ended December 31 | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| (In thousands) | |||
| Cash flows from operating activities: | |||
| Net income (loss) | $(105,905) | $28,455 | $57,826 |
| Adjustments for noncash items: | |||
| Depreciation | 25,786 | 23,882 | 22,080 |
| Amortization of identifiable intangibles | 1,897 | 2,520 | 1,704 |
| Goodwill impairment | 34,891 | — | — |
| Reduction of right-of-use lease asset | 2,220 | 2,098 | 2,086 |
| Deferred income taxes | (56,098) | 544 | (4,944) |
| Accrued pension and postretirement benefits | 10,844 | 14,602 | 14,160 |
| Pension settlement loss | 92,291 | — | — |
| Stock-based compensation expense | 1,978 | 3,619 | 5,167 |
| Gain on investment in kaléo | (262) | (1,406) | (12,462) |
| Impairment of Richmond, Virginia Technical Center assets | 3,454 | — | — |
| Changes in assets and liabilities: | |||
| Accounts and other receivables | 17,400 | 18,569 | (16,993) |
| Inventories | 47,607 | (37,771) | (23,132) |
| Income taxes recoverable/payable | (406) | (6,423) | 8,956 |
| Prepaid expenses and other | 1,204 | (2,526) | 3,612 |
| Accounts payable and accrued expenses | (25,165) | (14,916) | 19,835 |
| Lease liability | (2,299) | (2,301) | (1,935) |
| Pension and postretirement benefit plan contributions | (28,269) | (50,660) | (5,687) |
| Other, net | 2,827 | 870 | 310 |
| Net cash provided by (used in) operating activities | 23,995 | (20,844) | 70,583 |
| Cash flows from investing activities: | |||
| Capital expenditures | (26,446) | (36,875) | (27,361) |
| Proceeds from the sale of kaléo | 262 | 1,406 | 47,062 |
| Proceeds from the sale of assets and other | — | 10 | 4,749 |
| Net cash provided by (used in) investing activities | (26,184) | (35,459) | 24,450 |
| Cash flows from financing activities: | |||
| Borrowings | 116,134 | 313,500 | 75,500 |
| Debt principal payments | (107,713) | (249,500) | (136,500) |
| Dividends paid | (8,884) | (16,974) | (16,167) |
| Debt financing costs | (4,021) | (1,245) | — |
| Other | — | (396) | 325 |
| Net cash provided by (used in) financing activities: | (4,484) | 45,385 | (76,842) |
| Effect of exchange rate changes on cash | 896 | (371) | 484 |
| Increase (decrease) in cash, cash equivalents and restricted cash | (5,777) | (11,289) | 18,675 |
| Cash, cash equivalents and restricted cash at beginning of period | 19,232 | 30,521 | 11,846 |
| Cash, cash equivalents and restricted cash at end of period | $13,455 | $19,232 | $30,521 |
| Supplemental cash flow information: | |||
| Interest payments | $10,499 | $4,423 | $2,923 |
| Income tax payments, net | $2,282 | $10,814 | $4,706 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.