StandardAero, Inc.
For the period ended Dec 31, 2025. Filed Feb 26, 2026.
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FY2025 · Filed Feb 26, 2026
SARO$28.49-1.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Operating activities | |||
| Net income (loss) | $277,417 | $10,974 | $(35,061) |
| Adjustments to reconcile net loss from operations to net cash provided by operating activities: | |||
| Depreciation and amortization | 193,664 | 187,080 | 197,104 |
| Amortization of deferred finance charges and discounts | 6,535 | 11,921 | 15,312 |
| Amortization of loss on derivative instruments | — | (304) | (1,412) |
| Amortization of interest cap premiums | 9,855 | 10,156 | 6,301 |
| Payment of interest rate cap premiums | (10,097) | (10,211) | (5,948) |
| Stock compensation expense | 13,237 | 17,376 | — |
| Loss on debt extinguishment | — | 15,255 | 6,182 |
| Loss (gain) from disposals, net | 2,838 | 482 | (14) |
| Non-cash lease expense | 2,869 | 1,612 | 1,400 |
| Deferred income taxes | (15,786) | (22,514) | (19,847) |
| Foreign exchange gain (loss), net | (1,327) | (1,440) | 3,186 |
| Changes in operating assets and liabilities, net of effect of acquisitions: | |||
| Accounts receivable, net | (73,722) | (58,268) | 18,714 |
| Contract assets, net | (156,503) | (92,368) | (130,101) |
| Inventories, net | 19,327 | (138,008) | (91,245) |
| Prepaid expenses and other current assets | (15,816) | 5,231 | 26,262 |
| Accounts payable, accrued expenses and other current liabilities | 41,385 | 104,375 | (25,743) |
| Contract liabilities | 11,296 | 43,169 | 137,353 |
| Due to/from related parties | (907) | 1,483 | (276) |
| Income taxes payable and receivable | 12,440 | (9,671) | (34,274) |
| Net cash provided by operating activities | 316,705 | 76,330 | 67,893 |
| Investing activities | |||
| Acquisitions, net of cash and other | 1,285 | (114,073) | (31,054) |
| Purchase of property, plant and equipment | (82,408) | (102,935) | (55,129) |
| Payments for purchase of intangible assets | (30,403) | (20,250) | (30,180) |
| Proceeds from disposal of property, plant and equipment | 5,124 | 1,812 | 3,508 |
| Net cash used in investing activities | (106,402) | (235,446) | (112,855) |
| Financing activities | |||
| Proceeds from IPO, net | — | 1,202,802 | — |
| Proceeds from long-term debt | 715,000 | 3,247,000 | 1,479,568 |
| Repayment of long-term debt | (738,449) | (4,235,510) | (1,488,369) |
| Payment of deferred financing charges | — | (9,276) | (2,892) |
| Repayments of long-term agreements | (2,058) | (1,260) | (2,994) |
| Net cash (used in) provided by financing activities | (25,507) | 203,756 | (14,687) |
| Effect of exchange rate changes on cash | 2,340 | (41) | (2,434) |
| Net increase (decrease) in cash | 187,136 | 44,599 | (62,083) |
| Cash at beginning of the period | 102,581 | 57,982 | 120,065 |
| Cash at end of the period | $289,717 | $102,581 | $57,982 |
| Supplemental cash flow information: | |||
| Cash paid during the period | |||
| Interest | $166,783 | $291,150 | $297,334 |
| Income taxes, net of tax refunds | 102,470 | 101,652 | 99,506 |
| Supplemental disclosure of non-cash investing activities: | |||
| Portion of capital expenditures in accrued expenses and other current liabilities | $1,138 | $1,823 | $541 |
| Acquisition of intangible assets, liability incurred but not paid | — | 30,261 | — |
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