ADVANCED ENERGY INDUSTRIES INC

For the period ended Dec 31, 2023. Filed Feb 20, 2024.

About this filing

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 Feb 20, 2024

AEIS$221.69+1.1%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

Consolidated Statements of Cash Flows


· · Years Ended December 31,
· 2023 · 2022 · 2021
CASH FLOWS FROM OPERATING ACTIVITIES: · · ·
Net income	$128,284	$199,676	$134,780
Less: income (loss) from discontinued operations, net of income tax	(2,465)	(2,215)	73
Income from continuing operations, net of income tax	130,749	201,891	134,707
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization	66,533	60,296	52,893
Stock-based compensation	31,001	19,849	15,739
Deferred income tax provision (benefit)	(33,940)	(5,736)	1,326
(Gain) loss from discount on notes receivable	—	—	(638)
Loss (gain) on disposal and sale of assets	439	(3,962)	1,496
Changes in operating assets and liabilities, net of assets acquired
Accounts receivable, net	23,282	(59,630)	5,271
Inventories	39,300	(32,244)	(115,737)
Other assets	5,015	(19,673)	(2,910)
Accounts payable	(26,080)	(28,703)	67,111
Other liabilities and accrued expenses	(23,374)	51,643	(18,344)
Net cash from operating activities from continuing operations	212,925	183,731	140,914
Net cash from operating activities from discontinued operations	(3,988)	(144)	(669)
Net cash from operating activities	208,937	183,587	140,245

CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of long-term investments	(3,746)	—	—
Proceeds from the sale of assets	—	—	3,050
Purchases of property and equipment	(61,005)	(58,885)	(28,817)
Acquisitions, net of cash acquired	—	(149,387)	(21,535)
Net cash from investing activities	(64,751)	(208,272)	(47,302)

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from long-term borrowings	575,000	—	85,000
Payment of fees for long-term borrowings	(13,880)	—	(1,350)
Payments on long-term borrowings	(20,000)	(20,000)	(13,750)
Dividend payments	(15,222)	(15,204)	(15,385)
Payment for purchase of note hedges	(115,000)	—	—
Proceeds from sale of warrants	74,865	—	—
Purchase and retirement of common stock	(40,000)	(26,635)	(78,125)
Net payments related to stock-based awards	(79)	(26)	(1,762)
Net cash from financing activities	445,684	(61,865)	(25,372)

EFFECT OF CURRENCY TRANSLATION ON CASH AND CASH EQUIVALENTS	(4,132)	996	(3,567)

NET CHANGE IN CASH AND CASH EQUIVALENTS	585,738	(85,554)	64,004
CASH AND CASH EQUIVALENTS, beginning of period	458,818	544,372	480,368
CASH AND CASH EQUIVALENTS, end of period	$1,044,556	$458,818	$544,372

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for interest	$14,429	$6,608	$4,040
Cash paid for income taxes	$47,937	$17,546	$32,543

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