GENTHERM Inc
For the period ended Sep 30, 2024. Filed Oct 30, 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.
Sep 30, 2024 · Filed Oct 30, 2024
THRM$29.78-2.0%Stored close · as of Nov 10, 2026
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Consolidated Condensed Statements of Cash Flows
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Operating Activities: | ||
| Net income | $49,626 | $22,256 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 40,085 | 38,531 |
| Deferred income taxes | 1,568 | (3,017) |
| Stock based compensation | 10,291 | 8,451 |
| (Gain) loss on disposition of property and equipment | (1,702) | 873 |
| Provisions for inventory | 502 | 6,597 |
| Impairment of goodwill | — | 19,509 |
| Other | (1,057) | 81 |
| Changes in assets and liabilities: | ||
| Accounts receivable, net | (16,179) | (19,813) |
| Inventory | (27,826) | 3,733 |
| Other assets | (35,959) | (19,218) |
| Accounts payable | 38,501 | 32,158 |
| Other liabilities | 15,239 | (10,099) |
| Net cash provided by operating activities | 73,089 | 80,042 |
| Investing Activities: | ||
| Purchases of property and equipment | (50,354) | (26,526) |
| Proceeds from the sale of property and equipment | 7,537 | 72 |
| Proceeds from deferred purchase price of factored receivables | 10,266 | 10,139 |
| Cost of technology investments | (590) | (630) |
| Net cash used in investing activities | (33,141) | (16,945) |
| Financing Activities: | ||
| Borrowings on debt | 53,000 | — |
| Repayments of debt | (53,520) | (27,166) |
| Proceeds from the exercise of Common Stock options | 4,650 | 263 |
| Taxes withheld and paid on employees' stock based compensation | (3,157) | (2,754) |
| Cash paid for the repurchase of Common Stock | (41,578) | (31,094) |
| Net cash used in financing activities | (40,605) | (60,751) |
| Foreign currency effect | 1,565 | (1,883) |
| Net increase in cash and cash equivalents | 908 | 463 |
| Cash and cash equivalents at beginning of period | 149,673 | 153,891 |
| Cash and cash equivalents at end of period | $150,581 | $154,354 |
| Supplemental disclosure of cash flow information: | ||
| Cash paid for taxes | $19,470 | $18,893 |
| Cash paid for interest | 10,022 | 9,737 |
| Non-Cash Investing Activities: | ||
| Period-end balance of accounts payable for property and equipment | $7,646 | $4,501 |
| Deferred purchase price of receivables factored in the period | 9,276 | 11,344 |
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