SCANSOURCE INC
For the period ended Jun 30, 2024. Filed Aug 27, 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.
FY2024 · Filed Aug 27, 2024
SCSC$45.43+3.1%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
(in thousands)
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Cash flows from operating activities: | |||
| Net income | $77,060 | $89,809 | $88,798 |
| Net income from discontinued operations | — | 1,717 | 100 |
| Net income from continuing operations | 77,060 | 88,092 | 88,698 |
| Adjustments to reconcile net income to net cash (used in) provided by operating activities of continuing operations: | |||
| Gain on sale of a business | (14,155) | — | — |
| Depreciation and amortization | 28,009 | 28,614 | 29,884 |
| Amortization of debt issue costs | 386 | 577 | 417 |
| Provision for doubtful accounts | 8,317 | 2,785 | 1,514 |
| Share-based compensation | 9,537 | 11,219 | 11,663 |
| Deferred income taxes | (2,472) | (1,496) | 5,737 |
| Finance lease interest | 101 | 44 | 34 |
| Changes in operating assets and liabilities, net of acquisitions: | |||
| Accounts receivable | 138,264 | (17,368) | (165,939) |
| Inventories | 239,157 | (138,313) | (145,962) |
| Prepaid expenses and other assets | (17,804) | 32,653 | (27,371) |
| Other non-current assets | (10,689) | (7,582) | 1,123 |
| Accounts payable | (78,167) | (30,656) | 82,969 |
| Accrued expenses and other liabilities | (3,872) | (14,195) | (4,869) |
| Income taxes payable | (2,025) | 9,857 | (2,252) |
| Net cash (used in) provided by operating activities of continuing operations | 371,647 | (35,769) | (124,354) |
| Cash flows from investing activities of continuing operations: | |||
| Capital expenditures | (8,555) | (9,979) | (6,849) |
| Cash received for business disposal | 17,600 | 1,717 | 3,125 |
| Net cash (used in) provided by investing activities of continuing operations | 9,045 | (8,262) | (3,724) |
| Cash flows from financing activities of continuing operations: | |||
| Borrowings on revolving credit, net of expenses | 1,259,728 | 2,499,166 | 2,166,409 |
| Repayments on revolving credit, net of expenses | (1,438,658) | (2,456,025) | (2,030,569) |
| Debt issuance costs | — | (1,407) | — |
| Borrowings (repayments) on long-term debt | (6,915) | 15,590 | (7,843) |
| Repayments of finance lease obligations | (964) | (589) | (1,238) |
| Exercise of stock options | 4,813 | 910 | 2,304 |
| Taxes paid on settlement of equity awards | (2,876) | (2,463) | (2,754) |
| Repurchase of common stock | (42,895) | (15,651) | (18,203) |
| Net cash provided by (used in) financing activities of continuing operations | (227,767) | 39,531 | 108,106 |
| Net cash flows used in by discontinued operations | — | — | — |
| Effect of exchange rate changes on cash and cash equivalents | (3,643) | 2,691 | (4,759) |
|---|---|---|---|
| (Decrease) increase in cash and cash equivalents | 149,282 | (1,809) | (24,731) |
| Cash and cash equivalents at beginning of period | 36,178 | 37,987 | 62,718 |
| Cash and cash equivalents at end of period | 185,460 | 36,178 | 37,987 |
| Cash and cash equivalents of discontinued operations | — | — | — |
| Cash and cash equivalents of continuing operations | $185,460 | $36,178 | $37,987 |
| Supplemental disclosure of consolidated cash flow information: | |||
|---|---|---|---|
| Interest paid during the year | $12,953 | $18,789 | $6,066 |
| Income taxes paid during the year | $27,129 | $28,547 | $29,418 |
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