Gentherm Inc
For the period ended Dec 31, 2024. Filed Feb 19, 2025.
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FY2024 · Filed Feb 19, 2025
THRM$29.78-2.0%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
CONSOLID ATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Operating Activities: | |||
| Net income | $64,947 | $40,343 | $24,441 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 52,975 | 50,948 | 44,394 |
| Deferred income taxes | 10,580 | (13,072) | (7,322) |
| Stock based compensation | 10,432 | 11,627 | 6,599 |
| Provisions for inventory | 6,437 | 6,867 | 15,923 |
| Impairment of intangible assets and property and equipment | 2,501 | — | 6,291 |
| (Gain) loss on disposition of property and equipment | (1,603) | 721 | 771 |
| Impairment of goodwill | — | 19,509 | — |
| Other | (1,156) | 2,920 | 721 |
| Changes in assets and liabilities: | |||
| Accounts receivable, net | (12,077) | (4,195) | (44,221) |
| Inventory | (34,195) | 6,907 | (40,322) |
| Other assets | (44,696) | (26,179) | (11,906) |
| Accounts payable | 16,222 | 31,029 | 28,314 |
| Other liabilities | 39,279 | (8,160) | (8,736) |
| Net cash provided by operating activities | 109,646 | 119,265 | 14,947 |
| Investing Activities: | |||
| Purchases of property and equipment | (73,314) | (37,602) | (39,703) |
| Proceeds from the sale of property and equipment | 7,862 | 391 | 248 |
| Acquisition of businesses, net of cash acquired | — | — | (205,487) |
| Proceeds from deferred purchase price of factored receivables | 12,876 | 13,903 | 5,538 |
| Cost of technology investments | (955) | (815) | (495) |
| Net cash used in investing activities | (53,531) | (24,123) | (239,899) |
| Financing Activities: | |||
| Borrowings on debt | 68,000 | 60,000 | 207,000 |
| Repayments of debt | (70,615) | (72,280) | (13,272) |
| Proceeds from the exercise of Common Stock options | 5,791 | 263 | 1,670 |
| Taxes withheld and paid on employees' share-based payment awards | (3,296) | (2,940) | (5,471) |
| Cash paid for the repurchase of Common Stock | (51,585) | (91,094) | — |
| Net cash (used in) provided by financing activities | (51,705) | (106,051) | 189,927 |
| Foreign currency effect | (19,949) | 6,691 | (1,690) |
| Net decrease in cash and cash equivalents | (15,539) | (4,218) | (36,715) |
| Cash and cash equivalents at beginning of period | 149,673 | 153,891 | 190,606 |
| Cash and cash equivalents at end of period | $134,134 | $149,673 | $153,891 |
| Supplemental disclosure of cash flow information: | |||
| Cash paid for taxes | $20,837 | $23,273 | $21,645 |
| Cash paid for interest | 13,007 | 13,242 | 6,338 |
| Non-Cash Investing Activities: | |||
| Period-end balance of accounts payable for property and equipment | $5,154 | $7,754 | $2,526 |
| Deferred purchase price of receivables factored in the period | 9,276 | 13,885 | 3,769 |
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