Metallus Inc
For the period ended Dec 31, 2023. Filed Feb 28, 2024.
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FY2023 · Filed Feb 28, 2024
MTUS$17.52+0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statem ents of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| (Dollars in millions) | |||
| CASH PROVIDED (USED) | |||
| Operating Activities | |||
| Net income (loss) | $69.4 | $65.1 | $171.0 |
| Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities: | |||
| Depreciation and amortization | 56.9 | 58.3 | 63.1 |
| Amortization of deferred financing fees | 0.5 | 0.7 | 1.0 |
| Loss on extinguishment of debt | 11.4 | 43.1 | — |
| Loss on sale of consolidated subsidiary | — | — | 1.1 |
| Loss (gain) on sale or disposal of assets, net | (2.5) | 1.9 | 1.3 |
| Impairment charges | — | — | 10.6 |
| Deferred income taxes | (9.7) | 24.9 | 1.2 |
| Stock-based compensation expense | 11.5 | 8.8 | 7.3 |
| Pension and postretirement (benefit) expense, net | 47.1 | (40.5) | (38.7) |
| Changes in operating assets and liabilities: | |||
| Accounts receivable, net | (33.4) | 21.3 | (37.2) |
| Inventories, net | (34.9) | 18.8 | (41.6) |
| Accounts payable | 15.3 | (33.2) | 53.5 |
| Other accrued expenses | 5.3 | (8.8) | 9.7 |
| Deferred charges and prepaid expenses | (3.9) | (2.6) | 0.1 |
| Pension and postretirement contributions and payments | (2.8) | (5.4) | (6.9) |
| Other, net | (4.9) | (17.9) | 1.4 |
| Net Cash Provided (Used) by Operating Activities | 125.3 | 134.5 | 196.9 |
| Investing Activities | |||
| Capital expenditures | (51.6) | (27.1) | (12.2) |
| Proceeds from sale of consolidated subsidiary, net | — | — | 6.2 |
| Proceeds from disposals of property, plant and equipment | 1.7 | 5.4 | 1.2 |
| Net Cash Provided (Used) by Investing Activities | (49.9) | (21.7) | (4.8) |
| Financing Activities | |||
| Purchase of treasury shares | (32.6) | (52.0) | — |
| Proceeds from exercise of stock options | 2.8 | 8.0 | 4.1 |
| Shares surrendered for employee taxes on stock compensation | (3.4) | (2.0) | (0.5) |
| Repayments on convertible notes | (18.7) | (67.6) | (38.9) |
| Debt issuance costs | — | (1.0) | — |
| Net Cash Provided (Used) by Financing Activities | (51.9) | (114.6) | (35.3) |
| Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash | 23.5 | (1.8) | 156.8 |
| Cash, Cash Equivalents, and Restricted Cash at Beginning of Period | 257.8 | 259.6 | 102.8 |
| Cash, Cash Equivalents, and Restricted Cash at End of Period | $281.3 | $257.8 | $259.6 |
| The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Consolidated Balance Sheets that sum to the total of the same such amounts shown in the Consolidated Statements of Cash Flows: | |||
| Cash and cash equivalents | $280.6 | $257.2 | $259.6 |
| Restricted cash reported in other current assets | 0.7 | 0.6 | — |
| Total cash, cash equivalents, and restricted cash shown in the Consolidated Statements of Cash Flows | $281.3 | $257.8 | $259.6 |
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