PYXUS INTERNATIONAL INC
For the period ended Dec 31, 2023. Filed Feb 14, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Dec 31, 2023 · Filed Feb 14, 2024
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Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| Pyxus International, Inc. and SubsidiariesCondensed Consolidated Statements of Cash Flows (Unaudited) | ||
|---|---|---|
| Nine Months Ended | ||
| (in thousands) | December 31, 2023 | December 31, 2022 |
| Operating Activities: | ||
| Net income (loss) | $12,845 | $(18,292) |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
| Depreciation and amortization | 14,228 | 14,678 |
| Debt amortization/interest | 6,653 | 15,339 |
| Loss on foreign currency transactions | 5,500 | 3,657 |
| Asset impairment charges | — | 4,035 |
| Loss on deconsolidation/disposition of subsidiaries | — | 648 |
| Loss on pension settlement | 12,008 | 2,588 |
| Income from unconsolidated affiliates, net of dividends | 7,129 | 814 |
| Changes in operating assets and liabilities, net | ||
| Trade and other receivables | (170,076) | (91,242) |
| Inventories and advances to tobacco suppliers | (50,256) | 18,493 |
| Deferred items | (2,695) | (14,670) |
| Recoverable income taxes | (263) | 2,369 |
| Payables and accrued expenses | (41,526) | (29,808) |
| Advances from customers | 6,751 | (22,236) |
| Prepaid expenses | 4,357 | 9,041 |
| Income taxes | (9,676) | 1,301 |
| Other operating assets and liabilities | 2,948 | 4,442 |
| Other, net | (14,761) | (11,756) |
| Net cash used in operating activities | (216,834) | (110,599) |
| Investing Activities: | ||
| Purchases of property, plant, and equipment | (14,351) | (9,931) |
| Proceeds from sale of property, plant, and equipment | 3,602 | 2,213 |
| Collections from beneficial interests in securitized trade receivables | 127,298 | 122,638 |
| Proceeds from settlement of debt claims from deconsolidated subsidiaries | — | 2,011 |
| Other, net | 329 | 486 |
| Net cash provided by investing activities | 116,878 | 117,417 |
| Financing Activities: | ||
| Net proceeds from short-term borrowings | 93,411 | 116,492 |
| Repayment of DDTL facility | — | (110,250) |
| Proceeds from term loan facility | — | 100,000 |
| Proceeds from revolving loan facilities | 216,000 | 80,000 |
| Repayment of revolving loan facilities | (241,000) | (170,000) |
| Debt issuance costs | (5,091) | (6,074) |
| Fees paid to refinance the DDTL facility | — | (4,000) |
| Other, net | (758) | 309 |
| Net cash provided by financing activities | 62,562 | 6,477 |
| Effect of exchange rate changes on cash | (6,828) | 3,776 |
| (Decrease) increase in cash, cash equivalents, and restricted cash | (44,222) | 17,071 |
| Cash and cash equivalents at beginning of period | 136,733 | 198,777 |
| Restricted cash at beginning of period | 2,176 | 2,537 |
| Cash, cash equivalents, and restricted cash at end of period | $94,687 | $218,385 |
| Pyxus International, Inc. and SubsidiariesCondensed Consolidated Statements of Cash Flows (Unaudited) | ||
|---|---|---|
| Nine Months Ended | ||
| (in thousands) | December 31, 2023 | December 31, 2022 |
| Other information: | ||
| Cash paid for income taxes, net | $18,336 | $14,455 |
| Cash paid for income taxes related to debt exchange | 12,543 | — |
| Cash paid for interest, net | 79,219 | 54,840 |
| Noncash investing activities: | ||
| Noncash amounts obtained as a beneficial interest in exchange for transferring trade receivables in a securitization transaction | 127,502 | 130,421 |
| See "Notes to Condensed Consolidated Financial Statements" | ||
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