Verisk Analytics Inc
For the period ended Jun 30, 2024. Filed Jul 31, 2024.
View on SEC.govAbout this filing
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
VRSK$204.02+1.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Cash Flows
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| (in millions) | ||||
| Cash flows from operating activities: | ||||
| Net income | $307.8 | $196.8 | $527.2 | $253.2 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||
| Depreciation and amortization of fixed assets | 59.0 | 46.5 | 116.4 | 91.1 |
| Amortization of intangible assets | 18.2 | 18.8 | 36.7 | 36.5 |
| Amortization of debt issuance costs and original issue discount, net of original issue premium | 0.9 | 0.5 | 1.3 | 0.6 |
| Provision for doubtful accounts | 3.5 | 2.9 | 6.9 | 5.5 |
| Net gain on early extinguishment of debt | (3.6) | — | (3.6) | — |
| Loss on sale of assets | — | 6.9 | — | 135.3 |
| Impairment of cost-based investments | — | 6.5 | 1.0 | 6.5 |
| Stock-based compensation expense | 12.4 | 10.0 | 25.6 | 33.9 |
| Net gain upon settlement of investment in non-public companies | (98.3) | — | (98.3) | — |
| Deferred income taxes | (9.5) | 2.3 | (17.8) | (16.7) |
| Loss on disposal of fixed assets | 0.2 | — | 0.2 | (0.1) |
| Acquisition related liability adjustment | — | (22.0) | — | (22.0) |
| Changes in assets and liabilities, net of effects from acquisitions: | ||||
| Accounts receivable | 4.1 | 58.2 | (151.8) | (127.2) |
| Prepaid expenses and other assets | 16.4 | (4.5) | 25.2 | (37.4) |
| Operating lease right-of-use assets, net | 7.1 | 10.0 | 13.7 | 12.9 |
| Income taxes | (40.7) | (74.2) | 17.3 | 8.0 |
| Accounts payable and accrued liabilities | 0.4 | 31.5 | (99.0) | (0.9) |
| Deferred revenues | (62.9) | (86.6) | 197.9 | 174.7 |
| Operating lease liabilities | (4.5) | (10.5) | (11.8) | (13.1) |
| Other liabilities | 1.2 | (0.2) | 5.3 | 17.4 |
| Net cash provided by operating activities | 211.7 | 192.9 | 592.4 | 558.2 |
| Cash flows from investing activities: | ||||
| Acquisitions and purchase of additional controlling interest, net of cash acquired of $0.0, $7.0, $1.8, and $8.0, respectively | — | (46.1) | (23.4) | (83.3) |
| Proceeds from sale of assets | — | — | — | 3,066.4 |
| Investments in non-public companies | 1.8 | — | 0.5 | (0.8) |
| Proceeds received upon settlement of investment in non-public companies | 112.1 | — | 112.1 | — |
| Capital expenditures | (57.8) | (58.2) | (113.0) | (119.4) |
| Escrow funding associated with acquisitions | — | (3.8) | — | (3.8) |
| Other investing activities, net | — | (0.2) | — | (0.3) |
| Net cash provided by (used in) investing activities | 56.1 | (108.3) | (23.8) | 2,858.8 |
| Cash flows from financing activities: | ||||
| Proceeds from issuance of long-term debt, net of original issue discount | 590.2 | — | 590.2 | 495.2 |
| Payment of debt issuance costs | (5.6) | (1.2) | (5.6) | (6.7) |
| Payment on early extinguishment of debt | (396.4) | — | (396.4) | — |
| Repayment of short-term debt | — | — | — | (1,265.0) |
| Repayment of short-term debt with original maturities greater than three months | — | — | — | (125.0) |
| Repurchases of common stock | (127.5) | — | (327.5) | (2,000.0) |
| Share repurchases not yet settled | (22.5) | — | (22.5) | (500.0) |
| Payment of contingent liability related to acquisition | — | — | (8.5) | — |
| Proceeds from stock options exercised | 35.0 | 56.5 | 63.2 | 114.9 |
| Net share settlement of taxes from restricted stock and performance share awards | (0.5) | (1.4) | (12.6) | (13.7) |
| Dividends paid | (55.5) | (49.5) | (111.3) | (98.7) |
| Other financing activities, net | (3.1) | (1.2) | (5.9) | (2.8) |
| Net cash provided by (used in) financing activities | 14.1 | 3.2 | (236.9) | (3,401.8) |
| Effect of exchange rate changes | (2.2) | (11.0) | (2.3) | 0.8 |
| Net increase in cash and cash equivalents | 279.7 | 76.8 | 329.4 | 16.0 |
| Cash and cash equivalents, beginning of period | 352.4 | 231.9 | 302.7 | 292.7 |
| Cash and cash equivalents, end of period | $632.1 | $308.7 | $632.1 | $308.7 |
| Supplemental disclosures: | ||||
| Income taxes paid | $135.3 | $134.9 | $141.4 | $144.9 |
| Interest paid | $46.0 | $36.1 | $55.1 | $52.4 |
| Noncash investing and financing activities: | ||||
| Deferred tax liability established on date of acquisition | $— | $7.2 | $1.4 | $10.3 |
| Net assets sold as part of disposition | $— | $— | $— | $3,211.8 |
| Finance lease additions | $10.1 | $6.9 | $22.5 | $13.1 |
| Operating lease additions, net | $1.1 | $(0.5) | $3.8 | $25.8 |
| Fixed assets included in accounts payable and accrued liabilities | $— | $0.1 | $— | $0.3 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.