ALAMO GROUP INC
For the period ended Dec 31, 2023. Filed Feb 22, 2024.
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FY2023 · Filed Feb 22, 2024
ALG$139.73-0.9%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 December 31, | |||
|---|---|---|---|
| (in thousands) | 2023 | 2022 | 2021 |
| Operating Activities | |||
| Net income | $136,161 | $101,928 | $80,245 |
| Adjustments to reconcile net income to cash provided by operating activities: | |||
| Provision for doubtful accounts | 253 | 424 | 506 |
| Depreciation - PP&E | 23,665 | 23,673 | 21,229 |
| Depreciation - Rental | 8,789 | 7,739 | 8,613 |
| Amortization of intangibles | 15,519 | 15,277 | 14,637 |
| Amortization of debt issuance | 703 | 667 | 667 |
| Stock-based compensation expense | 7,424 | 5,561 | 5,987 |
| Provision for deferred income tax benefit | (4,253) | (2,337) | (1,182) |
| Gain on sale of property, plant and equipment | (6,621) | (161) | (3,779) |
| Changes in operating assets and liabilities, net of acquisitions: | |||
| Accounts receivable | (35,293) | (85,055) | (27,571) |
| Inventories | (10,844) | (37,739) | (78,463) |
| Rental equipment | (13,930) | (9,196) | 1,138 |
| Prepaid expenses and other | (835) | (6,146) | (6,994) |
| Trade accounts payable and accrued liabilities | 4,813 | (2,879) | 32,532 |
| Income taxes payable | 6,705 | 2,934 | 4,648 |
| Long term tax payable | (1,147) | (635) | 462 |
| Other assets and liabilities, net | 45 | 475 | (3,008) |
| Net cash provided by operating activities | 131,154 | 14,530 | 49,667 |
| Investing Activities | |||
| Acquisitions, net of cash acquired | (27,560) | (2,000) | (17,798) |
| Purchase of property, plant and equipment | (37,745) | (31,141) | (25,263) |
| Proceeds from sale of property, plant and equipment | 12,682 | 1,566 | 9,667 |
| Purchase of patents | — | (163) | (44) |
| Net cash used in investing activities | (52,623) | (31,738) | (33,438) |
| Financing Activities | |||
| Borrowings on bank revolving credit facility | 183,000 | 222,000 | 188,000 |
| Repayment on bank revolving credit facility | (235,000) | (174,000) | (189,000) |
| Principal payments on long-term debt and capital leases | (14,948) | (15,031) | (15,093) |
| Dividends paid | (10,485) | (8,549) | (6,627) |
| Proceeds from exercise of stock options | 1,586 | 803 | 1,676 |
| Common stock repurchased | (1,034) | (768) | (1,957) |
| Net cash (used in) provided by financing activities | (76,881) | 24,455 | (23,001) |
| Effect of exchange rate changes on cash | 3,253 | (2,346) | (1,308) |
| Net change in cash and cash equivalents | 4,903 | 4,901 | (8,080) |
| Cash and cash equivalents at beginning of the year | 47,016 | 42,115 | 50,195 |
| Cash and cash equivalents at end of the year | $51,919 | $47,016 | $42,115 |
| Cash paid during the year for: | |||
| Interest | $25,358 | $14,575 | $10,248 |
| Income taxes | $37,330 | $35,102 | $32,865 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.