LITTELFUSE INC DE
For the period ended Dec 30, 2023. Filed Feb 16, 2024.
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FY2023 · Filed Feb 16, 2024
LFUS$383.37-0.6%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
| Year Ended | |||
|---|---|---|---|
| (in thousands) | December 30, 2023 | December 31, 2022 | January 1, 2022 |
| OPERATING ACTIVITIES | |||
| Net income | $259,485 | $373,306 | $283,806 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation | 71,634 | 65,011 | 55,906 |
| Amortization of intangibles | 65,794 | 55,695 | 42,729 |
| Non-cash pension settlement charges | — | — | 19,855 |
| Impairment charges | 4,853 | 4,546 | — |
| Deferred revenue | 1,787 | 115 | (2,570) |
| Non-cash inventory charges | — | 15,593 | 8,397 |
| Stock-based compensation | 23,898 | 23,626 | 19,611 |
| Loss (gain) on investments and other assets | 291 | 14,024 | (8,907) |
| Deferred income taxes | 46 | (22,419) | (8,020) |
| Other | 5,473 | 32,680 | 20,275 |
| Changes in operating assets and liabilities: | |||
| Trade receivables | 24,517 | (19,334) | (10,234) |
| Inventories | 82,471 | (89,235) | (104,555) |
| Accounts payable | (36,277) | (22,403) | 40,481 |
| Accrued liabilities and income taxes | (61,022) | (9,495) | 30,793 |
| Prepaid expenses and other assets | 14,437 | (1,992) | (14,223) |
| Net cash provided by operating activities | 457,387 | 419,718 | 373,344 |
| INVESTING ACTIVITIES | |||
| Acquisitions of businesses, net of cash acquired | (198,810) | (532,670) | (423,633) |
| Purchases of property, plant, and equipment | (86,188) | (104,341) | (90,562) |
| Net proceeds from sale of property, plant, and equipment | 832 | 676 | 15,425 |
| Other | (151) | (62) | (390) |
| Net cash used in investing activities | (284,317) | (636,397) | (499,160) |
| FINANCING ACTIVITIES | |||
| Proceeds of term loan | — | 300,000 | — |
| Proceeds from senior notes payable | — | 100,000 | — |
| Payments of senior notes payable | (121,302) | (25,000) | — |
| Payments of revolving credit facility | — | — | (30,000) |
| Repayments of other debts | (2,697) | (1,552) | (2,619) |
| Payments of term loan | (7,500) | (3,750) | — |
| Net proceeds (payments) related to stock-based award activities | 7,934 | (862) | 13,365 |
| Debt issuance costs | — | (2,723) | — |
| Cash dividends paid | (62,161) | (55,911) | (49,730) |
| Net cash (used in) provided by financing activities | (185,726) | 310,202 | (68,984) |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | 4,840 | (11,420) | (9,889) |
| (Decrease) increase in cash, cash equivalents, and restricted cash | (7,816) | 82,103 | (204,689) |
| Cash, cash equivalents, and restricted cash at beginning of period | 564,939 | 482,836 | $687,525 |
| Cash, cash equivalents, and restricted cash at end of period | $557,123 | $564,939 | $482,836 |
| Supplementary Cash Flow Information | |||
| Reconciliation of cash and cash equivalents: | |||
| Cash and cash equivalents | $555,513 | $562,588 | $478,473 |
| Restricted cash included in prepaid expenses and other current assets | $— | $802 | $2,718 |
| Restricted cash included in other long-term assets | $1,610 | $1,549 | $1,645 |
| Cash paid during the period for interest | $37,167 | $25,439 | $17,420 |
| Cash paid during the period for income taxes, net of refunds | $73,932 | $93,622 | $55,561 |
| Capital expenditures, not yet paid | $9,191 | $11,725 | $11,872 |
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