Compass Diversified Holdings

For the period ended Jun 30, 2024. Filed Jul 31, 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.

Jun 30, 2024 · Filed Jul 31, 2024

CODI$11.93+0.6%Stored close · as of Nov 10, 2026

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Contents

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

COMPASS DIVERSIFIED HOLDINGS
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
	Six months ended June 30,
(in thousands)	2024	2023
Cash flows from operating activities:
Net income (loss)	$(7,942)	$126,724
Income from discontinued operations	—	12,840
Gain on sale of discontinued operations	3,345	102,221
Income (loss) from continuing operations	(11,287)	11,663
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation expense	21,397	23,262
Amortization expense - intangibles	53,749	47,951
Amortization expense - inventory step-up	4,006	1,174
Amortization of debt issuance costs	2,009	2,029
Impairment expense	8,182	—
Loss on sale of Crosman	24,606	—
Noncontrolling stockholder stock based compensation	8,257	4,848
Provision for receivable and inventory reserves	(5,268)	(2,002)
Deferred taxes	(407)	(7,899)
Other	497	1,047
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	(37,520)	14,385
Inventories	(109,277)	(69,021)
Other current and non-current assets	1,370	(1,251)
Accounts payable and accrued expenses	(8,697)	(36,227)
Cash used in operating activities - continuing operations	(48,383)	(10,041)
Cash provided by operating activities - discontinued operations	—	47,280
Cash provided by (used in) provided by operating activities	(48,383)	37,239
Cash flows from investing activities:
Acquisitions, net of cash acquired	(379,524)	—
Purchases of property and equipment	(18,919)	(28,604)
Proceeds from sale of businesses	64,828	105,123
Other investing activities	(2,458)	(911)
Cash provided by (used in) investing activities - continuing operations	(336,073)	75,608
Cash provided by investing activities - discontinued operations	—	42,221
Cash provided by (used in) investing activities	(336,073)	117,829

COMPASS DIVERSIFIED HOLDINGS
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
	Six months ended June 30,
(in thousands)	2024	2023
Cash flows from financing activities:
Proceeds and expenses from issuance of Trust common shares, net	4,493	(91)
Proceeds and expenses from issuance of Trust preferred shares, net	9,803	—
Purchase of treasury shares, net	—	(5,856)
Borrowings under credit facility	237,000	217,000
Repayments under credit facility	(183,000)	(280,000)
Principal payments - term loan	(5,000)	(5,000)
Distributions paid - common shares	(37,664)	(36,038)
Distributions paid - preferred shares	(12,146)	(12,091)
Distributions paid - allocation interests	(48,941)	(26,475)
Net proceeds provided by noncontrolling shareholders	6	57
Net proceeds provided by noncontrolling shareholders - acquisitions	41,674	—
Purchase of noncontrolling interest	(2,859)	(1,115)
Other	—	(10)
Net cash provided by (used in) financing activities	3,366	(149,619)
Foreign currency impact on cash	(1,017)	634
Net increase (decrease) in cash and cash equivalents	(382,107)	6,083
Cash and cash equivalents — beginning of period (1)	450,477	61,271
Cash and cash equivalents — end of period (2)	$68,370	$67,354

(1) Includes cash from discontinued operations of $4.7 million at January 1, 2023.

(2) Includes cash from discontinued operations of $3.1 million at June 30, 2023.

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