PYXUS INTERNATIONAL, INC.
For the period ended Mar 31, 2026. Filed Jun 4, 2026.
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FY2026 · Filed Jun 4, 2026
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Consolidated Statements of Cash Flows
| Years Ended March 31, | |||
|---|---|---|---|
| (in thousands) | 2026 | 2025 | 2024 |
| Operating activities: | |||
| Net income | $15,657 | $16,533 | $3,184 |
| Adjustments to reconcile net income to net cash used in operating activities: | |||
| Depreciation and amortization | 20,893 | 20,334 | 19,250 |
| Debt amortization/interest | 10,567 | 11,235 | 8,559 |
| Gain on debt retirement | — | (8,178) | (15,914) |
| Loss on foreign currency transactions | 6,554 | 4,922 | 4,009 |
| (Gain) loss on pension settlement | (283) | — | 12,008 |
| Equity-based compensation | 1,022 | 4,110 | — |
| Income from unconsolidated affiliates, net of dividends | (8,935) | 4,317 | (506) |
| Changes in operating assets and liabilities, net: | |||
| Trade and other receivables | (254,881) | (208,374) | (167,600) |
| Inventories and advances to suppliers | (60,350) | 156,309 | (136,010) |
| Deferred items | 11,539 | 1,052 | 3,240 |
| Recoverable income taxes | (1,486) | (4,721) | (2,689) |
| Payables and accrued expenses | 31,512 | (49,190) | 17,531 |
| Advances from customers | 34,798 | 45,937 | 55,302 |
| Prepaid expenses | (1,642) | 8,943 | (4,506) |
| Income taxes | (2,182) | 2,719 | (8,207) |
| Other operating assets and liabilities | (1,221) | (8,419) | 4,114 |
| Other, net | (10,013) | (10,915) | (6,735) |
| Net cash used in operating activities | $(208,451) | $(13,386) | $(214,970) |
| Investing activities: | |||
| Purchases of property, plant, and equipment | $(22,051) | $(23,028) | $(21,043) |
| Proceeds from sale of property, plant, and equipment | 5,215 | 3,770 | 4,312 |
| Collections from beneficial interests in securitized trade receivables | 200,684 | 188,312 | 175,911 |
| Other, net | 7,575 | 1,584 | 269 |
| Net cash provided by investing activities | $191,423 | $170,638 | $159,449 |
| Financing activities: | |||
| Net proceeds (repayments) from short-term borrowings | $77,293 | $(102,550) | $122,483 |
| Proceeds from revolving loan facilities | 281,000 | 363,000 | 331,000 |
| Repayment of revolving loan facilities | (281,000) | (363,000) | (356,000) |
| Repayment of long-term borrowings | — | (55,822) | (60,342) |
| Debt issuance costs | (5,350) | (9,106) | (11,751) |
| Other, net | 580 | 217 | 171 |
| Net cash provided by (used in) financing activities | $72,523 | $(167,261) | $25,561 |
| Effect of exchange rate changes on cash | (3,386) | (4,240) | (9,156) |
| Increase (decrease) in cash, cash equivalents, and restricted cash | 52,109 | (14,249) | (39,116) |
| Cash and cash equivalents at beginning of period | 78,254 | 92,569 | 136,733 |
| Restricted cash at beginning of period | 7,290 | 7,224 | 2,176 |
| Cash, cash equivalents, and restricted cash at end of period | $137,653 | $85,544 | $99,793 |
| Other information: | |||
| Cash paid for income taxes, net | $20,440 | $31,101 | $22,501 |
| Cash paid for income taxes related to debt exchange | — | — | 12,543 |
| Cash paid for interest, net | 119,470 | 115,009 | 109,518 |
| Noncash investing activities: | |||
| Noncash amounts obtained as a beneficial interest in exchange for transferring trade receivables in a securitization transaction | 198,567 | 241,069 | 160,041 |
| See accompanying notes to consolidated financial statements. | |||
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