MINERALS TECHNOLOGIES INC
For the period ended Dec 31, 2024. Filed Feb 21, 2025.
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FY2024 · Filed Feb 21, 2025
MTX$61.87-1.2%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| (millions of dollars) | 2024 | 2023 | 2022 |
| Operating Activities: | |||
| Net income | $170.9 | $88.3 | $126.3 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation, depletion and amortization | 94.9 | 95.0 | 94.2 |
| Loss (gain) on disposal of property, plant and equipment | (11.8) | 2.0 | (0.1) |
| Deferred income taxes | (7.6) | (34.8) | (17.2) |
| Pension amortization and settlement loss | 1.1 | 2.3 | 8.4 |
| Provision for bad debts | 1.4 | 2.8 | 4.1 |
| Stock-based compensation | 11.8 | 11.3 | 10.4 |
| Impairment of assets | — | 71.7 | — |
| Provision for credit losses | 30.0 | — | — |
| Reduction of right of use asset | 14.4 | 14.1 | 12.8 |
| Non-cash debt extinguishment expenses | 1.8 | — | 6.9 |
| Restructuring costs | — | 6.9 | — |
| Other non-cash items | (6.6) | (4.3) | (1.7) |
| Changes in operating assets and liabilities | |||
| Accounts receivable | 5.2 | 1.8 | (48.3) |
| Inventories | (26.2) | 18.7 | (66.1) |
| Pension plan funding | (11.7) | (9.9) | (9.1) |
| Accounts payable | 2.3 | (2.9) | 7.2 |
| Restructuring liabilities | (1.4) | (2.8) | (0.7) |
| Income taxes payable | 5.8 | 6.7 | 11.7 |
| Prepaid expenses and other | (37.9) | (33.3) | (33.1) |
| Net cash provided by operating activities | 236.4 | 233.6 | 105.7 |
| Investing Activities: | |||
| Purchases of property, plant and equipment | (89.5) | (93.5) | (82.3) |
| Cash paid for acquisitions, net of cash acquired | (4.0) | (1.8) | (22.4) |
| Proceeds from sale of assets | 12.3 | 0.2 | 1.0 |
| Purchases of short-term investments | (8.6) | (17.9) | (6.6) |
| Proceeds from sale of short-term investments | 8.0 | 20.0 | 6.7 |
| Other investing activities | (12.7) | 1.3 | 2.0 |
| Net cash used in investing activities | (94.5) | (91.7) | (101.6) |
| Financing Activities: | |||
| Long-term debt issuance | 575.0 | — | 550.0 |
| Debt issuance costs | (6.7) | — | (3.3) |
| Repayment of long-term debt | (533.6) | (14.8) | (552.3) |
| Proceeds from issuance of short-term debt | — | — | 39.3 |
| Repayment of short-term debt | (80.2) | (34.5) | — |
| Purchase of common stock for treasury | (63.6) | (14.2) | (56.0) |
| Proceeds from issuance of stock under option plan | 15.7 | 5.1 | 5.7 |
| Tax withholding payments for stock-based compensation | (2.8) | (2.8) | (3.3) |
| Dividends paid to non-controlling interests | (1.0) | (2.4) | (7.7) |
| Cash dividends paid | (13.2) | (8.1) | (6.5) |
| Net cash provided by (used in) financing activities | (110.4) | (71.7) | (34.1) |
| Effect of exchange rate changes on cash and cash equivalents | (15.6) | (0.2) | (22.3) |
| Net increase (decrease) in cash and cash equivalents | 15.9 | 70.0 | (52.3) |
| Cash and cash equivalents at beginning of period | 317.2 | 247.2 | 299.5 |
| Cash and cash equivalents at end of period | $333.1 | $317.2 | $247.2 |
| Supplemental disclosure of cash flow information: | |||
| Non-cash investing and financing activities | |||
| Property, plant and equipment additions related to asset retirement obligations | $7.0 | $— | $— |
| Treasury stock purchases settled after period end | $0.1 | $0.6 | $— |
| Excise tax charged to equity not paid | $0.4 | $— | $— |
CONSOLI
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