ADVANCED ENERGY INDUSTRIES INC
For the period ended Dec 31, 2025. Filed Feb 13, 2026.
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FY2025 · Filed Feb 13, 2026
AEIS$221.69+1.1%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
| | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|
| · · Years Ended December 31, | |||||||||
| · · 2025 · · 2024 · · 2023 | |||||||||
| CASH FLOWS FROM OPERATING ACTIVITIES: · · · · · · | |||||||||
| Net income | | $148.4 | | $54.2 | | $128.3 | |||
| Less: loss from discontinued operations, net of income tax | | (0.9) | | (2.1) | | (2.5) | |||
| Income from continuing operations, net of income tax | | 149.3 | | 56.3 | | 130.8 | |||
| Adjustments to reconcile net income to net cash from operating activities: | | | | | | | |||
| Depreciation and amortization | | 62.0 | | 68.5 | | 66.5 | |||
| Stock-based compensation | | 55.7 | | 45.9 | | 31.0 | |||
| Amortization and write off of debt issuance costs and debt discount | | | 3.2 | | | 3.8 | | | 1.3 |
| Deferred income taxes | | (13.8) | | (20.5) | | (34.0) | |||
| Other | | | 0.8 | | | 1.2 | | | 0.5 |
| Changes in operating assets and liabilities, net of assets acquired | | | | | | | |||
| Accounts receivable, net | | (57.4) | | 14.6 | | 23.3 | |||
| Inventories | | (47.4) | | (27.9) | | 39.3 | |||
| Other assets | | (9.5) | | (2.1) | | 5.0 | |||
| Accounts payable | | 79.3 | | (0.6) | | (26.1) | |||
| Operating lease right-of-use assets and operating lease liabilities, net | | | 2.5 | | | (0.9) | | | 0.6 |
| Other liabilities and accrued expenses | | 10.0 | | (5.3) | | (25.3) | |||
| Net cash from operating activities from continuing operations | | 234.7 | | 133.0 | | 212.9 | |||
| Net cash from operating activities from discontinued operations | | (1.4) | | (2.2) | | (4.0) | |||
| Net cash from operating activities | | 233.3 | | 130.8 | | 208.9 | |||
| | | | | | | | | | |
| CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | | |||
| Purchases of long-term investments | | | (2.4) | | | (3.0) | | | (3.7) |
| Purchases of property and equipment | | (107.4) | | (56.8) | | (61.0) | |||
| Acquisitions, net of cash acquired | | | — | | | (13.8) | | | — |
| Net cash from investing activities | | (109.8) | | (73.6) | | (64.7) | |||
| | | | | | | | | | |
| CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | |||
| Proceeds from long-term borrowings | | | — | | | — | | | 575.0 |
| Payment of debt issuance costs | | | — | | | (0.1) | | | (13.9) |
| Dividend payments | | | (15.6) | | | (15.4) | | | (15.2) |
| Payments on long-term borrowings | | | (1.9) | | | (355.0) | | | (20.0) |
| Payment for purchase of note hedges | | | — | | | — | | | (115.0) |
| Payment of acquisition holdback | | | (1.5) | | | — | | | 74.9 |
| Purchase and retirement of common stock | | | (30.2) | | | (1.8) | | | (40.0) |
| Net payments related to stock-based awards | | (6.9) | | (4.8) | | (0.1) | |||
| Net cash from financing activities | | (56.1) | | (377.1) | | 445.7 | |||
| | | | | | | | | | |
| EFFECT OF CURRENCY TRANSLATION ON CASH AND CASH EQUIVALENTS | | 1.7 | | (2.6) | | (4.1) | |||
| | | | | | | | | | |
| NET CHANGE IN CASH AND CASH EQUIVALENTS | | 69.1 | | (322.5) | | 585.8 | |||
| CASH AND CASH EQUIVALENTS, beginning of period | | 722.1 | | 1,044.6 | | 458.8 | |||
| CASH AND CASH EQUIVALENTS, end of period | | $791.2 | | $722.1 | | $1,044.6 | |||
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