TREDEGAR CORP
For the period ended Dec 31, 2024. Filed Mar 12, 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 Mar 12, 2025
TG$5.79-1.9%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Years Ended December 31 | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| (In thousands) | |||
| Cash flows from operating activities: | |||
| Net income (loss) | $(64,565) | $(105,905) | $28,455 |
| Adjustments for noncash items: | |||
| Depreciation | 23,681 | 25,786 | 23,882 |
| Amortization of identifiable intangibles | 1,856 | 1,897 | 2,520 |
| Goodwill impairment | 13,271 | 34,891 | — |
| Reduction of right-of-use lease asset | 2,259 | 2,220 | 2,098 |
| Deferred income taxes | (8,202) | (56,098) | 544 |
| Accrued pension and postretirement benefits | 217 | 10,844 | 14,602 |
| Pension settlement loss | — | 92,291 | — |
| Stock-based compensation expense | 2,498 | 1,978 | 3,619 |
| Gain on investment in kaléo | (144) | (262) | (1,406) |
| Loss on sale of divested business | 74,877 | — | — |
| Impairment of Richmond, Virginia Technical Center assets | — | 3,454 | — |
| Changes in assets and liabilities: | |||
| Accounts and other receivables | (14,785) | 17,400 | 18,569 |
| Inventories | (6,911) | 47,607 | (37,771) |
| Income taxes recoverable/payable | 137 | (406) | (6,423) |
| Prepaid expenses and other | (7,174) | 1,204 | (2,526) |
| Accounts payable and accrued expenses | 10,009 | (25,165) | (14,916) |
| Lease liability | (2,749) | (2,299) | (2,301) |
| Pension and postretirement benefit plan contributions | (587) | (28,269) | (50,660) |
| Other, net | 1,820 | 2,827 | 870 |
| Net cash provided by (used in) operating activities | 25,508 | 23,995 | (20,844) |
| Cash flows from investing activities: | |||
| Capital expenditures | (14,347) | (26,446) | (36,875) |
| Proceeds from the sale of kaléo | 144 | 262 | 1,406 |
| Net proceeds on sale of divested business (net of $20 million debt principal assumed by buyer) | 54,631 | — | — |
| Proceeds from the sale of assets | 83 | — | 10 |
| Net cash provided by (used in) investing activities | 40,511 | (26,184) | (35,459) |
| Cash flows from financing activities: | |||
| Borrowings | 615,201 | 116,134 | 313,500 |
| Debt principal payments | (679,590) | (107,713) | (249,500) |
| Dividends paid | — | (8,884) | (16,974) |
| Debt financing costs | (587) | (4,021) | (1,245) |
| Other | — | — | (396) |
| Net cash provided by (used in) financing activities: | (64,976) | (4,484) | 45,385 |
| Effect of exchange rate changes on cash | (7,436) | 896 | (371) |
| Increase (decrease) in cash, cash equivalents and restricted cash | (6,393) | (5,777) | (11,289) |
| Cash, cash equivalents and restricted cash at beginning of period | 13,455 | 19,232 | 30,521 |
| Cash, cash equivalents and restricted cash at end of period | $7,062 | $13,455 | $19,232 |
| Supplemental cash flow information: | |||
| Interest payments | $13,524 | $10,499 | $4,423 |
| Income tax payments, net | $12,228 | $2,282 | $10,814 |
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