Compass Diversified Holdings

For the period ended Sep 30, 2024. Filed Oct 30, 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.

Sep 30, 2024 · Filed Oct 30, 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)
	Nine months ended September 30,
(in thousands)	2024	2023
Cash flows from operating activities:
Net income	$23,519	$122,964
Income from discontinued operations	—	21,790
Gain on sale of discontinued operations	3,345	103,495
Income (loss) from continuing operations	20,174	(2,321)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation expense	31,763	35,256
Amortization expense - intangibles	80,547	71,906
Amortization expense - inventory step-up	4,006	1,175
Amortization of debt issuance costs	3,014	3,034
Impairment expense	8,182	32,568
Loss on sale of Crosman	24,218	—
Noncontrolling stockholder stock based compensation	13,026	7,598
Provision for receivable and inventory reserves	(6,712)	(241)
Deferred taxes	(2,861)	(12,698)
Other	935	831
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	(90,997)	(24,841)
Inventories	(203,514)	(81,221)
Other current and non-current assets	4,227	(1,513)
Accounts payable and accrued expenses	36,382	(21,345)
Cash (used in) provided by operating activities - continuing operations	(77,610)	8,188
Cash provided by operating activities - discontinued operations	—	48,764
Cash (used in) provided by operating activities	(77,610)	56,952
Cash flows from investing activities:
Acquisitions, net of cash acquired	(380,049)	—
Purchases of property and equipment	(34,507)	(38,537)
Proceeds from sale of businesses	65,216	105,123
Other investing activities	(2,910)	(1,653)
Cash (used in) provided by investing activities - continuing operations	(352,250)	64,933
Cash provided by investing activities - discontinued operations	—	39,358
Cash (used in) provided by investing activities	(352,250)	104,291

COMPASS DIVERSIFIED HOLDINGS
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
	Nine months ended September 30,
(in thousands)	2024	2023
Cash flows from financing activities:
Proceeds and expenses from issuance of Trust common shares, net	8,045	(127)
Proceeds and expenses from issuance of Trust preferred shares, net	26,944	—
Purchase of treasury shares, net	—	(7,389)
Borrowings under credit facility	349,000	287,000
Repayments under credit facility	(239,000)	(330,000)
Principal payments - term loan	(7,500)	(7,500)
Distributions paid - common shares	(56,577)	(54,012)
Distributions paid - preferred shares	(18,491)	(18,136)
Distributions paid - allocation interests	(48,941)	(26,475)
Net proceeds provided by noncontrolling shareholders	55	350
Net proceeds provided by noncontrolling shareholders - acquisitions	41,674	—
Purchase of noncontrolling interest	(4,327)	(1,622)
Other	—	(16)
Net cash provided by (used in) financing activities	50,882	(157,927)
Foreign currency impact on cash	449	150
Net (decrease) increase in cash and cash equivalents	(378,529)	3,466
Cash and cash equivalents — beginning of period (1)	450,477	61,271
Cash and cash equivalents — end of period (2)	$71,948	$64,737

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

(2) Includes cash from discontinued operations of $0.2 million at September 30, 2023.

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