Seneca Foods Corp
For the period ended Sep 28, 2024. Filed Nov 6, 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 28, 2024 · Filed Nov 6, 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)
SENECA FOODS CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)
| Six Months Ended | |||
|---|---|---|---|
| September 28, 2024 · September 30, 2023 | |||
| Cash flows from operating activities: | |||
| Net earnings | $25,964 | $47,890 | |
| Adjustments to reconcile net earnings to net cash from operating activities: | |||
| Depreciation and amortization | 22,030 | 21,769 | |
| Non-cash lease expense | 2,932 | 3,656 | |
| LIFO charge | 12,059 | 7,616 | |
| Deferred income tax expense | (3,609) | (41) | |
| Gain on the sale of assets | (332) | (1,785) | |
| Stock-based compensation expense | 81 | 169 | |
| Pension expense | 376 | 798 | |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (28,766) | (31,279) | |
| Inventories | (84,254) | (350,165) | |
| Other assets | (498) | 7 | |
| Accounts payable | 172,689 | 252,347 | |
| Accrued expenses and other | 8,314 | 16,723 | |
| Income taxes | (1,118) | 6,016 | |
| Net cash provided by (used in) operating activities | 125,868 | (26,279) | |
| Cash flows from investing activities: | |||
| Additions to property, plant and equipment | (17,657) | (26,452) | |
| Proceeds from the sale of assets | 407 | 7,566 | |
| Increase in non-current deposits | (2,666) | - | |
| Net cash used in investing activities | (19,916) | (18,886) | |
| Cash flows from financing activities: | |||
| Borrowings under revolving credit facility | 231,744 | 370,528 | |
| Repayments under revolving credit facility | (322,548) | (416,255) | |
| Borrowings under term loans, finance obligation and note payable | 12,394 | 124,433 | |
| Payments on term loans | (9,500) | (9,500) | |
| Payments on financing leases | (2,825) | (4,560) | |
| Purchase of treasury stock | (9,991) | (19,644) | |
| Dividends | (12) | (12) | |
| Net cash (used in) provided by financing activities | (100,738) | 44,990 | |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 5,214 | (175) | |
| Cash, cash equivalents and restricted cash, beginning of the period | 11,853 | 12,256 | |
| Cash, cash equivalents and restricted cash, end of the period | $17,067 | $12,081 | |
| Supplemental disclosures of cash flow information: | |||
| Cash paid for interest, net of capitalized interest | $19,780 | $12,749 | |
| Cash paid for income taxes, net | $12,406 | $8,481 | |
| Non-cash transactions: | |||
| Reduction of note payable and non-current deposits associated with finance obligation | $21,320 | $ | - |
| Right-of-use assets obtained in exchange for lease obligations | $2,117 | $4,136 | |
| Right-of-use assets derecognized upon early lease termination | $8,230 | $2,298 | |
| Assets acquired from exercise of finance lease purchase options, net of accumulated depreciation | $1,739 | $2,987 | |
| Property, plant and equipment purchased on account | $421 | $934 | |
The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.
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