ALLEGRO MICROSYSTEMS INC
For the period ended Mar 29, 2024. Filed May 23, 2024.
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FY2024 · Filed May 23, 2024
ALGM$30.70-0.7%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 Statements of Cash Flows
| Fiscal Year Ended | |||
|---|---|---|---|
| March 29,2024 | March 31,2023 | March 25,2022 | |
| Cash flows from operating activities: | |||
| Net income | $152,888 | $187,494 | $119,555 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 71,382 | 50,808 | 48,527 |
| Amortization of deferred financing costs | 527 | 99 | 101 |
| Deferred income taxes | (18,613) | (40,116) | 7,498 |
| Stock-based compensation | 42,457 | 61,798 | 33,548 |
| Loss (gain) on disposal of assets | 70 | 285 | (349) |
| Change in fair value of contingent consideration | — | (2,800) | (2,000) |
| Impairment of long-lived assets | 13,218 | — | — |
| Provisions for inventory and expected credit losses | 10,286 | (1,438) | 6,297 |
| Change in fair value of marketable securities | 3,579 | (7,471) | (3,722) |
| Changes in operating assets and liabilities: | |||
| Trade accounts receivable | (7,964) | (12,484) | (18,347) |
| Accounts receivable - other | (1,035) | 2,226 | (2,668) |
| Inventories | (15,848) | (75,150) | (4,471) |
| Prepaid expenses and other assets | (40,231) | (23,263) | (19,450) |
| Trade accounts payable | (12,653) | 11,958 | (4,348) |
| Due to (from) related party | 5,231 | 18,326 | (659) |
| Accrued expenses and other current and long-term liabilities | (21,579) | 22,934 | (3,383) |
| Net cash provided by operating activities | 181,715 | 193,206 | 156,129 |
| Cash flows from investing activities: | |||
| Purchases of property, plant and equipment | (124,772) | (79,775) | (69,941) |
| Acquisition of business, net of cash acquired | (408,119) | (19,921) | (14,549) |
| Proceeds from sales of property, plant and equipment | — | — | 27,408 |
| Sales (purchases) in marketable securities | 16,175 | — | (9,189) |
| Net cash used in investing activities | (516,716) | (99,696) | (66,271) |
| Cash flows from financing activities: | |||
| Loans made to related party | — | (7,500) | (7,500) |
| Borrowings of 2023 Term Loan Facility, net of deferred financing costs | 245,452 | — | — |
| Repayment of 2020 Term Loan Facility | (25,000) | — | — |
| Repayment of 2023 Term Loan Facility | (625) | — | — |
| Repayments of other debt | (842) | — | — |
| Finance lease payments | (142) | — | — |
| Receipts on related party notes receivable | 3,750 | 2,812 | — |
| Payments for taxes related to net share settlement of equity awards | (25,900) | (18,061) | (638) |
| Proceeds from issuance of common stock under equity award and employee purchase plan awards | 3,635 | 2,793 | 2,831 |
| Dividends paid to non-controlling interest | — | (42) | — |
| Payments of debt issuance costs | (1,450) | — | — |
| Net cash provided by (used in) financing activities | 198,878 | (19,998) | (5,307) |
| Effect of exchange rate changes on cash and cash equivalents and restricted cash | (421) | (4,606) | 1,373 |
| Net (decrease) increase in cash and cash equivalents and restricted cash | (136,544) | 68,906 | 85,924 |
| Cash and cash equivalents and restricted cash at beginning of period | 358,705 | 289,799 | 203,875 |
| Cash and cash equivalents and restricted cash at end of period: | $222,161 | $358,705 | $289,799 |
| Reconciliation of cash and cash equivalents and restricted cash: | |||
| Cash and cash equivalents at beginning of period | $351,576 | $282,383 | $197,214 |
| Restricted cash at beginning of period | 7,129 | 7,416 | 6,661 |
| Cash and cash equivalents and restricted cash at beginning of period | $358,705 | $289,799 | $203,875 |
| Cash and cash equivalents at end of period | 212,143 | 351,576 | 282,383 |
| Restricted cash at end of period | 10,018 | 7,129 | 7,416 |
| Cash and cash equivalents and restricted cash at end of period | $222,161 | $358,705 | $289,799 |
Consolidated Statements of Cash Flows - continued
| Fiscal Year Ended | |||
|---|---|---|---|
| March 29,2024 | March 31,2023 | March 25,2022 | |
| Supplemental disclosures of cash flow information: | |||
| Cash paid for interest | $10,153 | $1,923 | $813 |
| Cash paid for income taxes, net of refunds | $89,927 | $58,209 | $22,195 |
| Non-cash transactions: | |||
| Property, plant and equipment purchases included in trade accounts payable and accrued expenses | $(4,157) | $(16,369) | $(2,021) |
| Right-of-use assets obtained in exchange for lease liabilities | $10,450 | $4,870 | $3,159 |
Notes to Consolidated Financial Statements
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