AMERICAN VANGUARD CORP
For the period ended Mar 31, 2024. Filed May 9, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 9, 2024
AVD$0.82+0.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
(In thousands)
| 2024 | 2023 | |
|---|---|---|
| Cash flows from operating activities: | ||
| Net income | $1,552 | $1,918 |
| Adjustments to reconcile net income to net cash used in operating activities: | ||
| Depreciation and amortization of property, plant and equipment and intangible assets | 5,441 | 5,539 |
| Amortization of other long-term assets | 189 | 714 |
| Provision for bad debts | 700 | 581 |
| Stock-based compensation | 2,005 | 1,474 |
| Change in deferred income taxes | (1,025) | 122 |
| Change in liabilities for uncertain tax positions or unrecognized tax benefits | 35 | 371 |
| Change in equity investment fair value | (638) | 22 |
| Other | (5) | 72 |
| Foreign currency transaction gains | (373) | (446) |
| Changes in assets and liabilities associated with operations: | ||
| Increase in net receivables | (5,579) | (8,779) |
| Increase in inventories | (9,353) | (33,731) |
| Increase (decrease) in prepaid expenses and other assets | (1,466) | 600 |
| Change in income tax receivable/payable, net | 1,014 | (2,965) |
| (Decrease) increase in accounts payable | (3,951) | 5,655 |
| Decrease in customer prepayments | (37,037) | (22,759) |
| Increase in accrued program costs | 6,399 | 10,660 |
| Decrease in other payables and accrued expenses | (332) | (500) |
| Net cash used in operating activities | (42,424) | (41,452) |
| Cash flows from investing activities: | ||
| Capital expenditures | (3,565) | (2,590) |
| Proceeds from disposal of property, plant and equipment | 23 | — |
| Acquisition of a product line | — | (703) |
| Intangible assets | (25) | (15) |
| Net cash used in investing activities | (3,567) | (3,308) |
| Cash flows from financing activities: | ||
| Payments under line of credit agreement | (35,346) | (27,300) |
| Borrowings under line of credit agreement | 83,463 | 72,000 |
| Net receipt from the issuance of common stock under ESPP | 430 | 480 |
| Net (payment) receipt from the exercise of stock options | — | 18 |
| Net payment from common stock purchased for tax withholding | (14) | (13) |
| Repurchase of common stock | — | (557) |
| Payment of cash dividends | (834) | (851) |
| Net cash provided by financing activities | 47,699 | 43,777 |
| Net increase (decrease) in cash | 1,708 | (983) |
| Effect of exchange rate changes on cash and cash equivalents | 585 | 223 |
| Cash at beginning of period | 11,416 | 20,328 |
| Cash at end of period | $13,709 | $19,568 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.