GENTHERM Inc
For the period ended Dec 31, 2023. Filed Feb 21, 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 21, 2024
THRM$29.78-2.0%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
CONSOLID ATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Operating Activities: | |||
| Net income | $40,343 | $24,441 | $93,434 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 50,948 | 44,394 | 38,780 |
| Deferred income taxes | (13,072) | (7,322) | (150) |
| Stock based compensation | 11,627 | 6,599 | 14,530 |
| Loss on disposition of property and equipment | 721 | 771 | 973 |
| Impairment of intangible assets and property and equipment | — | 6,291 | — |
| Impairment of goodwill | 19,509 | — | — |
| Provisions for inventory | 6,867 | 15,923 | 2,499 |
| Other | 2,920 | 721 | (271) |
| Changes in assets and liabilities: | |||
| Accounts receivable, net | (4,195) | (44,221) | 25,099 |
| Inventory | 6,907 | (40,322) | (42,372) |
| Other assets | (26,179) | (11,906) | 10,307 |
| Accounts payable | 31,029 | 28,314 | 8,166 |
| Other liabilities | (8,160) | (8,736) | (7,919) |
| Net cash provided by operating activities | 119,265 | 14,947 | 143,076 |
| Investing Activities: | |||
| Purchases of property and equipment | (37,602) | (39,703) | (38,468) |
| Proceeds from the sale of property and equipment | 391 | 248 | 22 |
| Acquisition of businesses, net of cash acquired | — | (205,487) | (2,827) |
| Proceeds from deferred purchase price of factored receivables | 13,903 | 5,538 | — |
| Cost of technology investments | (815) | (495) | (7,557) |
| Net cash used in investing activities | (24,123) | (239,899) | (48,830) |
| Financing Activities: | |||
| Borrowings on debt | 60,000 | 207,000 | — |
| Repayments of debt | (72,280) | (13,272) | (153,243) |
| Proceeds from the exercise of Common Stock options | 263 | 1,670 | 8,279 |
| Taxes withheld and paid on employees' share-based payment awards | (2,940) | (5,471) | (4,108) |
| Cash paid for the repurchase of Common Stock | (91,094) | — | (20,000) |
| Acquisition contingent consideration payment | — | — | (69) |
| Net cash (used in) provided by financing activities | (106,051) | 189,927 | (169,141) |
| Foreign currency effect | 6,691 | (1,690) | (2,844) |
| Net decrease in cash and cash equivalents | (4,218) | (36,715) | (77,739) |
| Cash and cash equivalents at beginning of period | 153,891 | 190,606 | 268,345 |
| Cash and cash equivalents at end of period | $149,673 | $153,891 | $190,606 |
| Supplemental disclosure of cash flow information: | |||
| Cash paid for taxes | $23,273 | $21,645 | $14,857 |
| Cash paid for interest | $13,242 | $6,338 | $2,378 |
| Non-Cash Investing Activities: | |||
| Period-end balance of accounts payable for property and equipment | $7,754 | $2,526 | $2,147 |
| Deferred purchase price of receivables factored in the period | $13,885 | $3,769 | $— |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.