AMERICAN VANGUARD CORP
For the period ended Sep 30, 2024. Filed Nov 12, 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 Nov 12, 2024
AVD$0.82+0.4%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows
(In thousands)
| For the Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net (loss) income | $(35,911) | $540 |
| Adjustments to reconcile net (loss) income to net cash used in operating activities: | ||
| Depreciation of property, plant and equipment | 6,655 | 6,396 |
| Amortization of intangibles assets | 9,947 | 10,009 |
| Amortization of other long-term assets | 199 | 1,445 |
| Amortization of deferred loan fees | 342 | 174 |
| Provision for bad debts | 1,278 | 952 |
| Stock-based compensation | 3,887 | 4,257 |
| Change in deferred income taxes | (9,110) | (977) |
| Changes in liabilities for uncertain tax positions or unrecognized tax benefits | 106 | 467 |
| Change in equity investment fair value | (513) | 324 |
| Other | 110 | 7 |
| Foreign currency transaction losses | 121 | 199 |
| Changes in assets and liabilities associated with operations: | ||
| Decrease (increase) in net receivables | 33,475 | (29,055) |
| Increase in inventories | (29,429) | (58,163) |
| Increase in prepaid expenses and other assets | (4,107) | (633) |
| Change in income tax receivable/payable, net | (6,216) | (4,046) |
| Increase (decrease) in net operating lease liability | (48) | 227 |
| Increase in accounts payable | 6,141 | 1,240 |
| Decrease in customer prepayments | (38,375) | (104,590) |
| Increase in accrued program costs | 17,721 | 29,779 |
| Increase (decrease) in other payables and accrued expenses | 13,878 | (4,406) |
| Net cash used in operating activities | (29,849) | (145,854) |
| Cash flows from investing activities: | ||
| Capital expenditures | (6,106) | (8,589) |
| Proceeds from disposal of property, plant and equipment | 66 | 200 |
| Intangible assets | (341) | (759) |
| Net cash used in investing activities | (6,381) | (9,148) |
| Cash flows from financing activities: | ||
| Payments under line of credit agreement | (168,188) | (62,800) |
| Borrowings under line of credit agreement | 208,037 | 228,500 |
| Receipt from the issuance of common stock under ESPP | 901 | 980 |
| Net receipt from the exercise of stock options | — | 46 |
| Net payment for tax withholding on stock-based compensation awards | (1,416) | (1,957) |
| Repurchase of common stock | — | (15,539) |
| Payment of cash dividends | (2,510) | (2,550) |
| Net cash provided by financing activities | 36,824 | 146,680 |
| Net increase (decrease) in cash and cash equivalents | 594 | (8,322) |
| Effect of exchange rate changes on cash and cash equivalents | (130) | (477) |
| Cash and cash equivalents at beginning of period | 11,416 | 20,328 |
| Cash and cash equivalents at end of period | $11,880 | $11,529 |
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