Seneca Foods Corp
For the period ended Dec 30, 2023. Filed Feb 8, 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.
Dec 30, 2023 · Filed Feb 8, 2024
SENEB$148.31-2.5%Stored close · as of Nov 4, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows (Unaudited)
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
| Nine Months Ended | ||||
|---|---|---|---|---|
| December 30, 2023 · December 31, 2022 | ||||
| Cash flows from operating activities: | ||||
| Net earnings | $65,565 | $42,288 | ||
| Adjustments to reconcile net earnings to net cash from operating activities: | ||||
| Depreciation and amortization | 38,070 | 39,721 | ||
| LIFO charge | 19,643 | 79,333 | ||
| Gain on the sale of assets | (1,843) | (2,191) | ||
| Deferred income taxes | (661) | 1,418 | ||
| Stock-based compensation expense | 207 | 109 | ||
| Pension expense | 300 | 1,110 | ||
| Changes in operating assets and liabilities: | ||||
| Accounts receivable | 7,173 | 24,722 | ||
| Inventories | (317,634) | (449,459) | ||
| Other current assets | (1,112) | 910 | ||
| Income taxes | 11,790 | 7,873 | ||
| Accounts payable | 55,950 | 68,463 | ||
| Accrued expenses and other | (5,574) | (3,777) | ||
| Net cash used in operating activities | (128,126) | (189,480) | ||
| Cash flows from investing activities: | ||||
| Additions to property, plant and equipment | (31,843) | (56,509) | ||
| Proceeds from the sale of assets | 7,987 | 5,013 | ||
| Net cash used in investing activities | (23,856) | (51,496) | ||
| Cash flows from financing activities: | ||||
| Borrowings under revolving credit facility | 657,476 | 783,346 | ||
| Repayments under revolving credit facility | (579,966) | (490,046) | ||
| Borrowings under term loans | 124,433 | - | ||
| Principal payments on term loans | (14,252) | (2,976) | ||
| Payments on financing leases | (6,401) | (6,515) | ||
| Purchase of treasury stock | (27,133) | (41,209) | ||
| Dividends | (12) | (12) | ||
| Net cash provided by financing activities | 154,145 | 242,588 | ||
| Net increase in cash, cash equivalents and restricted cash | 2,163 | 1,612 | ||
| Cash, cash equivalents and restricted cash, beginning of the period | 12,256 | 10,904 | ||
| Cash, cash equivalents and restricted cash, end of the period | $14,419 | $12,516 | ||
| Supplemental disclosures of cash flow information: | ||||
| Cash paid for: | ||||
| Interest, net of capitalized interest | $22,112 | $7,228 | ||
| Income taxes | $8,791 | $3,082 | ||
| Noncash transactions: | ||||
| Right-of-use assets obtained in exchange for lease obligations | $4,268 | $8,237 | ||
| Right-of-use assets derecognized upon early lease termination | $2,392 | $2,874 | ||
| Assets acquired from exercise of finance lease purchase options, net of accumulated depreciation | $5,183 | $ | - | |
| Property, plant and equipment purchased on account | $95 | $970 | ||
| Sale of property, plant and equipment in exchange for note receivable | $ | - | $750 | |
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