Seneca Foods Corp
For the period ended Dec 28, 2024. Filed Feb 6, 2025.
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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 28, 2024 · Filed Feb 6, 2025
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)
| Nine Months Ended | |||
|---|---|---|---|
| December 28, 2024 · December 30, 2023 | |||
| Cash flows from operating activities: | |||
| Net earnings | $40,623 | $65,565 | |
| Adjustments to reconcile net earnings to net cash from operating activities: | |||
| Depreciation and amortization | 33,556 | 32,724 | |
| Non-cash lease expense | 4,017 | 5,346 | |
| LIFO charge | 22,978 | 19,643 | |
| Deferred income tax expense | (1,166) | (661) | |
| Loss (gain) on the sale of assets | 646 | (1,843) | |
| Stock-based compensation expense | 127 | 207 | |
| Pension expense | 20 | 300 | |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | 8,938 | 7,173 | |
| Inventories | 114,032 | (317,634) | |
| Other assets | (735) | (1,112) | |
| Accounts payable | 30,465 | 55,950 | |
| Accrued expenses and other | (10,994) | (5,574) | |
| Income taxes | 1,093 | 11,790 | |
| Net cash provided by (used in) operating activities | 243,600 | (128,126) | |
| Cash flows from investing activities: | |||
| Additions to property, plant and equipment | (26,731) | (31,843) | |
| Proceeds from the sale of assets | 519 | 7,987 | |
| Increase in non-current deposits | (2,666) | - | |
| Net cash used in investing activities | (28,878) | (23,856) | |
| Cash flows from financing activities: | |||
| Borrowings under revolving credit facility | 414,302 | 657,476 | |
| Repayments under revolving credit facility | (609,331) | (579,966) | |
| Borrowings under term loans, finance obligation and note payable | 12,394 | 124,433 | |
| Payments on term loans and finance obligation | (14,877) | (14,252) | |
| Payments on financing leases | (3,800) | (6,401) | |
| Purchase of treasury stock | (10,805) | (27,133) | |
| Payment of debt issuance costs | (1,535) | - | |
| Dividends | (12) | (12) | |
| Net cash (used in) provided by financing activities | (213,664) | 154,145 | |
| Net increase in cash, cash equivalents and restricted cash | 1,058 | 2,163 | |
| Cash, cash equivalents and restricted cash, beginning of the period | 11,853 | 12,256 | |
| Cash, cash equivalents and restricted cash, end of the period | $12,911 | $14,419 | |
| Supplemental disclosures of cash flow information: | |||
| Cash paid for interest, net of capitalized interest | $28,326 | $22,112 | |
| Cash paid for income taxes, net | $12,424 | $8,791 | |
| Non-cash transactions: | |||
| Exchange of note payable for finance obligation and non-current deposits for property, plant and equipment | $21,320 | $ | - |
| Right-of-use assets obtained in exchange for lease obligations | $2,389 | $4,268 | |
| Right-of-use assets derecognized upon early lease termination | $8,116 | $2,392 | |
| Assets acquired from exercise of finance lease purchase options, net of accumulated depreciation | $2,965 | $5,183 | |
| Property, plant and equipment purchased on account | $700 | $95 | |
The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.
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