AAR CORP
For the period ended Feb 29, 2024. Filed Mar 21, 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.
Feb 29, 2024 · Filed Mar 21, 2024
AIR$115.61-0.9%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows
For the Nine Months Ended February 29/28, 2024 and 2023
| | | | | | | |
|---|---|---|---|---|---|---|
| · · Nine Months Ended | ||||||
| · · February 29/28, | ||||||
| | 2024 | 2023 | ||||
| Cash flows provided by (used in) operating activities: | | | | | | |
| Net income | | $37.2 | | $67.0 | ||
| Less: Income from discontinued operations | | | — | | | (0.4) |
| Income from continuing operations | | | 37.2 | | | 66.6 |
| Adjustments to reconcile income from continuing operations to net cash provided by (used in) operating activities: | | | | | | |
| Depreciation and amortization | | 25.9 | | 20.2 | ||
| Stock-based compensation | | 11.5 | | 10.4 | ||
| Pension settlement charge | | | 26.7 | | | — |
| Loss from joint ventures | | | 0.5 | | | 3.0 |
| Provision for credit losses | | | 0.5 | | | 1.8 |
| Deferred taxes | | | (4.8) | | | (5.8) |
| Changes in certain assets and liabilities: | | | | | | |
| Accounts receivable | | (17.3) | | (26.4) | ||
| Contract assets | | | 0.5 | | | (18.5) |
| Inventories | | | (97.3) | | | (20.2) |
| Rotable assets and equipment on or available for short-term lease | | (23.8) | | 1.9 | ||
| Prepaid expenses and other current assets | | | (11.3) | | | (8.8) |
| Rotable assets supporting long-term programs | | (6.9) | | (13.2) | ||
| Accounts payable | | 73.7 | | 2.8 | ||
| Accrued and other liabilities | | 19.8 | | | (15.9) | |
| Deferred revenue on long-term programs | | | (13.6) | | | 2.2 |
| Other | | | (2.0) | | (21.6) | |
| Net cash provided by (used in) operating activities - continuing operations | | 19.3 | | (21.5) | ||
| Net cash used in operating activities - discontinued operations | | (0.2) | | (0.4) | ||
| Net cash provided by (used in) operating activities | | | 19.1 | | | (21.9) |
| Cash flows used in investing activities: | | | | | | |
| Property, plant, and equipment expenditures | | | (22.2) | | | (22.5) |
| Other | | | (4.6) | | | (4.8) |
| Net cash used in investing activities – continuing operations | | | (26.8) | | | (27.3) |
| Cash flows provided by financing activities: | | | | | | |
| Short-term borrowings on Revolving Credit Facility, net | | | 5.0 | | | 88.0 |
| Purchase of treasury stock | | | (5.1) | | | (50.1) |
| Financing costs | | (0.8) | | (1.9) | ||
| Stock compensation activity | | | 10.4 | | | 8.5 |
| Net cash provided by financing activities – continuing operations | | 9.5 | | 44.5 | ||
| Effect of exchange rate changes on cash | | — | | | (0.1) | |
| Increase (Decrease) in cash, cash equivalents, and restricted cash | | | 1.8 | | | (4.8) |
| Cash, cash equivalents, and restricted cash at beginning of period | | 81.8 | | | 58.9 | |
| Cash, cash equivalents, and restricted cash at end of period | | $83.6 | | $54.1 | ||
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