Compass Diversified Holdings
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
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FY2024 · Filed Feb 27, 2025
CODI$11.93+0.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
| Year ended December 31, | |||
|---|---|---|---|
| (in thousands) | 2024 | 2023 | 2022 |
| Cash flows from operating activities: | |||
| Net income | $47,350 | $262,405 | $51,438 |
| Income (loss) from discontinued operations, net of income tax | (6,905) | 24,208 | 25,831 |
| Gain on sale of discontinued operations, net of income tax | 11,957 | 283,025 | 9,393 |
| Income (loss) from continuing operations | 42,298 | (44,828) | 16,214 |
| Adjustments to reconcile net income to net cash (used in) provided by operating activities: | |||
| Depreciation expense | 43,891 | 45,960 | 39,475 |
| Amortization expense - intangibles | 99,760 | 88,396 | 77,237 |
| Amortization expense - inventory step-up | 5,295 | 1,175 | 6,113 |
| Amortization of debt issuance costs | 4,018 | 4,038 | 3,740 |
| Impairment expense | 8,182 | 89,400 | — |
| Loss on sale of Crosman | 24,218 | — | — |
| Loss on debt extinguishment | — | — | 534 |
| Noncontrolling stockholder stock based compensation | 16,345 | 9,451 | 10,519 |
| Provision for receivable and inventory reserves | (7,044) | (62) | (689) |
| Deferred taxes | (17,879) | (19,800) | 3,023 |
| Other | 1,171 | 1,658 | 2,342 |
| Changes in operating assets and liabilities, net of acquisitions: | |||
| Accounts receivable | (117,742) | (19,941) | (43,420) |
| Inventories | (229,365) | (65,492) | (146,220) |
| Other current and non-current assets | 3,132 | (1,945) | (12,772) |
| Accounts payable and accrued expenses | 51,091 | (72,903) | (7,299) |
| Net cash provided by (used in) operating activities - continuing operations | (72,629) | 15,107 | (51,203) |
| Net cash provided by operating activities - discontinued operations | 4,993 | 62,973 | 22,910 |
| Net cash provided by (used in) operating activities | (67,636) | 78,080 | (28,293) |
| Cash flows from investing activities: | |||
| Acquisitions, net of cash acquired | (517,856) | — | (569,028) |
| Purchases of property and equipment | (56,701) | (55,016) | (60,183) |
| Proceeds from sale of businesses | 74,719 | 500,305 | 9,393 |
| Other investing activities | (4,296) | (1,742) | (1,102) |
| Net cash provided by (used in) investing activities - continuing operations | (504,134) | 443,547 | (620,920) |
| Net cash provided by (used in) investing activities - discontinued operations | 81,684 | 126,956 | (5,803) |
| Net cash provided by (used in) investing activities | (422,450) | 570,503 | (626,723) |
| Year ended December 31, | |||
|---|---|---|---|
| (in thousands) | 2024 | 2023 | 2022 |
| Cash flows from financing activities: | |||
| Proceeds from the issuance of Trust common shares, net | 7,707 | 74,259 | 83,851 |
| Proceeds and expenses from issuance of Trust preferred shares, net | 114,914 | — | — |
| Purchase of treasury shares, net | (9,571) | (9,339) | — |
| Borrowings under credit facility | 585,000 | 360,000 | 268,000 |
| Repayments under credit facility | (475,000) | (515,000) | (113,000) |
| Issuance of Term Loan | — | — | 400,000 |
| Repayments - Term Loan | (10,000) | (10,000) | (5,000) |
| Distributions paid - common shares | (75,490) | (71,967) | (70,845) |
| Distributions paid - preferred shares | (25,458) | (24,181) | (24,181) |
| Net proceeds provided by noncontrolling shareholders | 41,947 | 15,599 | 1,312 |
| Net proceeds provided by noncontrolling shareholders - acquisitions | — | — | 35,263 |
| Purchase of noncontrolling interest | (4,490) | (41,297) | (1,957) |
| Distributions to noncontrolling shareholders | — | (11,745) | (11,292) |
| Distributions paid - Allocation Interests | (48,941) | (26,475) | — |
| Debt issuance costs | — | — | (5,276) |
| Other | (4) | (17) | 10 |
| Net cash provided by (used in) financing activities | 100,614 | (260,163) | 556,885 |
| Foreign currency impact on cash | (1,278) | 786 | (1,331) |
| Net increase (decrease) in cash and cash equivalents | (390,750) | 389,206 | (99,462) |
| Cash and cash equivalents — beginning of period (1) | 450,477 | 61,271 | 160,733 |
| Cash and cash equivalents — end of period | $59,727 | $450,477 | $61,271 |
(1)Includes cash from discontinued operations of $3.8 million at January 1, 2024, $8.5 million at January 1, 2023 and $14.3 million at January 1, 2022.
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