BADGER METER INC
For the period ended Dec 31, 2023. Filed Feb 16, 2024.
View on SEC.govAbout 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 16, 2024
BMI$157.58-1.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 8. Consolidated Statements of Cash Flows
Consolidated Statem ents of Cash Flows
| Years ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| (In thousands) | |||
| Operating activities: | |||
| Net earnings | $92,598 | $66,496 | $60,884 |
| Adjustments to reconcile net earnings to net cash provided by operations: | |||
| Depreciation | 10,937 | 11,090 | 11,291 |
| Amortization | 17,173 | 15,151 | 16,571 |
| Deferred income taxes | (9,650) | (5,619) | (3,055) |
| Noncurrent employee benefits | (338) | (648) | (234) |
| Stock-based compensation expense | 5,188 | 3,148 | 2,330 |
| Changes in: | |||
| Receivables | (6,351) | (11,328) | (1,240) |
| Inventories | (32,467) | (21,021) | (13,633) |
| Payables | 8,506 | 28,007 | 7,005 |
| Prepaid expenses and other assets | (7,012) | (10,557) | (8,281) |
| Other liabilities | 31,533 | 7,732 | 15,872 |
| Total adjustments | 17,519 | 15,955 | 26,626 |
| Net cash provided by operations | 110,117 | 82,451 | 87,510 |
| Investing activities: | |||
| Property, plant and equipment expenditures | (12,003) | (5,891) | (6,746) |
| Acquisitions, net of cash acquired | (17,127) | - | (45,273) |
| Proceeds from company owned life insurance plans | - | - | 596 |
| Net cash used for investing activities | (29,130) | (5,891) | (51,423) |
| Financing activities: | |||
| Dividends paid | (29,052) | (24,881) | (22,155) |
| Proceeds from exercise of stock options | 967 | 703 | 2,036 |
| Repurchase of common stock for treasury stock | - | (427) | (460) |
| Issuance of treasury stock | - | - | 72 |
| Net cash used for financing activities | (28,085) | (24,605) | (20,507) |
| Effect of foreign exchange rates on cash | 828 | (1,077) | (679) |
| Increase in cash and cash equivalents | 53,730 | 50,878 | 14,901 |
| Cash and cash equivalents – beginning of period | 138,052 | 87,174 | 72,273 |
| Cash and cash equivalents – end of period | $191,782 | $138,052 | $87,174 |
| Supplemental disclosure of cash flow information: | |||
| Cash paid during the year for: | |||
| Income taxes | $38,934 | $24,038 | $19,981 |
| Interest | - | - | 118 |
| Property, plant and equipment acquired through operating lease | 830 | 2,283 | - |
| Property, plant and equipment accrued and unpaid | 450 | 1,517 | - |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.