MYERS INDUSTRIES INC
For the period ended Dec 31, 2023. Filed Mar 5, 2024.
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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 Mar 5, 2024
MYE$27.97-1.0%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statem ents of Cash Flows
For the Years Ended December 31, 2023, 2022 and 2021
| For the Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash Flows From Operating Activities | |||
| Net income | $48,867 | $60,267 | $33,538 |
| Adjustments to reconcile net income to net cash provided by (used for) operating activities | |||
| Depreciation and amortization | 22,786 | 21,216 | 20,422 |
| Amortization of deferred financing costs | 313 | 441 | 463 |
| Non-cash stock-based compensation expense | 6,671 | 7,436 | 3,196 |
| (Gain) loss on disposal of fixed assets | (195) | (667) | (1,382) |
| Deferred taxes | 1,039 | 2,072 | 2,826 |
| Other | 944 | 1,520 | (1,403) |
| Cash flows provided by (used for) working capital | |||
| Accounts receivable - trade and other, net | 2,656 | (23,625) | (15,273) |
| Inventories | 2,630 | 7,955 | (24,885) |
| Prepaid expenses and other current assets | 151 | (1,409) | (676) |
| Accounts payable and accrued expenses | 310 | (2,585) | 28,088 |
| Net cash provided by (used for) operating activities | 86,172 | 72,621 | 44,914 |
| Cash Flows From Investing Activities | |||
| Capital expenditures | (22,855) | (24,292) | (17,867) |
| Acquisition of business, net of cash acquired | (160) | (27,626) | (35,758) |
| Proceeds from sale of property, plant and equipment | 258 | 1,537 | 3,336 |
| Net cash provided by (used for) investing activities | (22,757) | (50,381) | (50,289) |
| Cash Flows From Financing Activities | |||
| Borrowings on revolving credit facility | 740,000 | 1,264,200 | 886,600 |
| Repayments on revolving credit facility | (776,000) | (1,261,200) | (833,600) |
| Repayments of long-term debt | — | — | (40,000) |
| Payments on finance lease | (542) | (500) | (402) |
| Cash dividends paid | (20,240) | (19,797) | (19,596) |
| Proceeds from issuance of common stock | 2,338 | 2,320 | 3,793 |
| Shares withheld for employee taxes on equity awards | (2,072) | (451) | (888) |
| Deferred financing fees | — | (889) | (1,095) |
| Net cash provided by (used for) financing activities | (56,516) | (16,317) | (5,188) |
| Foreign exchange rate effect on cash | 252 | (439) | (83) |
| Net increase (decrease) in cash | 7,151 | 5,484 | (10,646) |
| Cash at January 1 | 23,139 | 17,655 | 28,301 |
| Cash at December 31 | $30,290 | $23,139 | $17,655 |
| Supplemental Disclosures of Cash Flow Information | |||
| Cash paid during the year for: | |||
| Interest | $5,980 | $4,574 | $4,279 |
| Income taxes | $13,451 | $13,023 | $10,936 |
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