NN INC
For the period ended Dec 31, 2023. Filed Mar 12, 2024.
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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.
FY2023 · Filed Mar 12, 2024
NNBR$3.04-1.6%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
Consolidated Statements of Cash Flows
| Years Ended December 31, | |||
|---|---|---|---|
| (in thousands) | 2023 | 2022 | 2021 |
| Cash flows from operating activities | |||
| Net loss | $(50,150) | $(26,098) | $(13,225) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | |||
| Depreciation and amortization | 46,120 | 47,231 | 46,195 |
| Amortization of debt issuance costs and discount | 1,941 | 1,361 | 1,381 |
| Paid-in-kind interest | 2,239 | — | — |
| Loss on extinguishment of debt and write-off of debt issuance costs | — | — | 2,390 |
| Total derivative loss (gain), net of cash settlements | 11,933 | (5,265) | (3,259) |
| Share of net income from joint venture, net of cash dividends received | (1,868) | (347) | (6,261) |
| Gain on disposal of discontinued operations, net of tax | — | — | (1,200) |
| Share-based compensation expense | 2,821 | 4,377 | 3,216 |
| Deferred income taxes | (1,273) | (1,814) | (4,845) |
| Other | (785) | (3,207) | (2,611) |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | 9,087 | (4,920) | 13,698 |
| Inventories | 9,997 | (6,672) | (12,959) |
| Accounts payable | 1,142 | 8,619 | 343 |
| Income taxes receivable and payable, net | (89) | (1,457) | (4,516) |
| Other | (1,771) | (4,091) | (2,761) |
| Net cash provided by operating activities | 29,344 | 7,717 | 15,586 |
| Cash flows from investing activities | |||
| Acquisition of property, plant and equipment | (20,496) | (17,952) | (18,221) |
| Proceeds from sale of property, plant, and equipment | 2,898 | 460 | 1,418 |
| Cash paid for post-closing adjustments on sale of business | — | — | (3,880) |
| Cash settlements of interest rate swap | — | — | (15,420) |
| Net cash used in investing activities | (17,598) | (17,492) | (36,103) |
| Cash flows from financing activities | |||
| Proceeds from long-term debt | 61,000 | 46,000 | 171,000 |
| Repayments of long-term debt | (65,395) | (47,958) | (93,729) |
| Cash paid for debt issuance costs | (169) | (136) | (7,360) |
| Proceeds from issuance of preferred stock | — | — | 61,793 |
| Redemption of preferred stock | — | — | (122,434) |
| Proceeds from (repayments of) short-term debt | 3,648 | — | (1,563) |
| Other | (1,967) | (3,092) | (5,150) |
| Net cash provided by (used in) financing activities | (2,883) | (5,186) | 2,557 |
| Effect of exchange rate changes on cash flows | 232 | (887) | (1,522) |
| Net change in cash and cash equivalents | 9,095 | (15,848) | (19,482) |
| Cash and cash equivalents at beginning of year | 12,808 | 28,656 | 48,138 |
| Cash and cash equivalents at end of year | $21,903 | $12,808 | $28,656 |
Consolidated Statements of Cash Flows
| Years Ended December 31, | |||
|---|---|---|---|
| (in thousands) | 2023 | 2022 | 2021 |
| Supplemental schedule of non-cash investing activities: | |||
| Non-cash additions to property, plant and equipment | 2,743 | 1,266 | 4,438 |
| Non-cash additions to debt issuance costs | 2,712 | — | — |
| Supplemental disclosures: | |||
| Cash paid for interest, net of capitalized interest | 15,272 | 13,344 | 10,739 |
| Cash paid for income taxes | 3,083 | 4,739 | 7,624 |
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