Seneca Foods Corp
For the period ended Jun 29, 2024. Filed Aug 8, 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 29, 2024 · Filed Aug 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.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Cash Flows (Unaudited)
SENECA FOODS CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)
| Three Months Ended | ||
|---|---|---|
| June 29, 2024 | July 1, 2023 | |
| Cash flows from operating activities: | ||
| Net earnings | $12,661 | $23,111 |
| Adjustments to reconcile net earnings to net cash from operating activities: | ||
| Depreciation and amortization | 10,819 | 10,680 |
| Non-cash lease expense | 1,627 | 1,923 |
| LIFO credit | (2,918) | (1,700) |
| Deferred income tax expense | (159) | 32 |
| Gain on the sale of assets | (299) | (304) |
| Stock-based compensation expense | 37 | 80 |
| Pension expense | 188 | 399 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (16,681) | 12,137 |
| Inventories | 33,763 | (62,526) |
| Other assets | (1,112) | 80 |
| Accounts payable | 22,134 | 48,468 |
| Accrued expenses and other | (14,325) | (14,301) |
| Income taxes | 4,597 | 6,945 |
| Net cash provided by operating activities | 50,332 | 25,024 |
| Cash flows from investing activities: | ||
| Additions to property, plant and equipment | (12,073) | (14,744) |
| Proceeds from the sale of assets | 371 | 3,073 |
| Increase in non-current deposits | (1,675) | - |
| Net cash used in investing activities | (13,377) | (11,671) |
| Cash flows from financing activities: | ||
| Borrowings under revolving credit facility | 104,270 | 124,675 |
| Repayments under revolving credit facility | (132,306) | (253,159) |
| Borrowings under term loans and note payable | 4,995 | 124,433 |
| Payments on term loans | (4,750) | (4,750) |
| Payments on financing leases | (1,390) | (2,328) |
| Purchase of treasury stock | (6,640) | (2,177) |
| Dividends | (12) | (12) |
| Net cash used in financing activities | (35,833) | (13,318) |
| Net increase in cash, cash equivalents and restricted cash | 1,122 | 35 |
| Cash, cash equivalents and restricted cash, beginning of the period | 11,853 | 12,256 |
| Cash, cash equivalents and restricted cash, end of the period | $12,975 | $12,291 |
| Supplemental disclosures of cash flow information: | ||
| Cash paid for interest, net of capitalized interest | $10,217 | $6,118 |
| Cash received for income taxes, net | $509 | $258 |
| Non-cash transactions: | ||
| Right-of-use assets obtained in exchange for lease obligations | $1,391 | $2,266 |
| Right-of-use assets derecognized upon early lease termination | $5,627 | $1,931 |
| Assets acquired from exercise of finance lease purchase options, net of accumulated depreciation | $565 | $128 |
| Property, plant and equipment purchased on account | $190 | $837 |
The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.