PHOTRONICS INC
For the period ended Oct 31, 2024. Filed Dec 19, 2024.
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FY2024 · Filed Dec 19, 2024
PLAB$28.10-2.8%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
| Year Ended | |||||
|---|---|---|---|---|---|
| October 31, 2024 · October 31, 2023 · October 31, 2022 | |||||
| Cash flows from operating activities: | |||||
| Net income | $183,848 | $199,634 | $179,242 | ||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||
| Depreciation and amortization of property, plant and equipment | 82,433 | 80,473 | 79,971 | ||
| Amortization of intangible assets | 372 | 362 | 359 | ||
| Share-based compensation | 13,890 | 8,001 | 6,308 | ||
| Deferred income taxes | (1,389) | (927) | 809 | ||
| Changes in assets, liabilities, and other: | |||||
| Accounts receivable | (2,541) | 4,026 | (51,233) | ||
| Inventories | (6,154) | 1,236 | (2,039) | ||
| Other current assets | 628 | 9,665 | 1,204 | ||
| Accounts payable, accrued liabilities and other | (9,643) | (294) | 60,566 | ||
| Net cash provided by operating activities | 261,444 | 302,176 | 275,187 | ||
| Cash flows used in investing activities: | |||||
| Purchases of property, plant and equipment | (130,942) | (131,295) | (112,338) | ||
| Purchases of short-term investments | (100,558) | (20,192) | (38,854) | ||
| Proceeds from maturities of short-term investments | 72,836 | 47,537 | - | ||
| Government incentives | 2,229 | 2,522 | 3,615 | ||
| Purchases of intangible assets | (89) | (117) | (205) | ||
| Other | 59 | - | 25 | ||
| Net cash used in investing activities | (156,465) | (101,545) | (147,757) | ||
| Cash flows used in financing activities: | |||||
| Repayments of debt | (6,621) | (18,439) | (65,440) | ||
| Purchases of treasury stock | - | - | (2,522) | ||
| Contributions from noncontrolling interests | - | - | 24,995 | ||
| Proceeds from share-based arrangements | 1,916 | 1,248 | 5,749 | ||
| Net settlements of restricted stock awards | (3,025) | (1,302) | (1,471) | ||
| Net cash used in financing activities | (7,730) | (18,493) | (38,689) | ||
| Effects of exchange rate changes on cash, cash equivalents, and restricted cash | 2,127 | (2,680) | (46,012) | ||
| Net increase in cash, cash equivalents, and restricted cash | 99,376 | 179,458 | 42,729 | ||
| Cash, cash equivalents, and restricted cash at beginning of year | 501,867 | 322,409 | 279,680 | ||
| Cash, cash equivalents, and restricted cash at end of year | 601,243 | 501,867 | 322,409 | ||
| Less: Ending restricted cash | 2,758 | 2,575 | 2,729 | ||
| Cash and cash equivalents at end of year | $598,485 | $499,292 | $319,680 | ||
| Supplemental disclosure of non-cash information: | |||||
| Accruals for property, plant and equipment not yet paid | $5,217 | $18,607 | $3,266 | ||
| Expected refundable federal investment tax credit | $5,013 | $ | - | $ | - |
Notes to Consolidated Financial Statements
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