Quad/Graphics, Inc.
For the period ended Sep 30, 2026. Filed Oct 29, 2026.
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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 30, 2026 · Filed Oct 29, 2026
QUAD$7.40-0.9%Stored close · as of Nov 10, 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 September 30, | ||
|---|---|---|
| 2026 | 2025 | |
| OPERATING ACTIVITIES | ||
| Net earnings | $15.4 | $15.9 |
| Adjustments to reconcile net earnings to net cash used in operating activities: | ||
| Depreciation and amortization | 53.4 | 59.7 |
| Impairment charges | 9.1 | 5.1 |
| Amortization of debt issuance costs and original issue discount | 1.2 | 1.2 |
| Stock-based compensation | 5.9 | 5.1 |
| Loss on the sale of a business | — | 0.5 |
| Gain on the sale or disposal of property, plant and equipment, net | (13.7) | (4.7) |
| Provision for credit losses | 13.1 | 2.5 |
| Deferred income taxes | 1.2 | 1.4 |
| Changes in operating assets and liabilities - net of acquisitions and divestitures | (148.0) | (136.7) |
| Net cash used in operating activities | (62.4) | (50.0) |
| INVESTING ACTIVITIES | ||
| Purchases of property, plant and equipment | (37.6) | (36.5) |
| Cost investment in unconsolidated entities | — | (0.3) |
| Proceeds from the sale of property, plant and equipment | 18.1 | 12.5 |
| Acquisition of a business | (1.9) | (16.3) |
| Other investing activities | 0.2 | (2.7) |
| Net cash used in investing activities | (21.2) | (43.3) |
| FINANCING ACTIVITIES | ||
| Payments of current and long-term debt | (27.6) | (19.6) |
| Payments of finance lease obligations | (0.4) | (0.9) |
| Borrowings on revolving credit facilities | 901.4 | 953.8 |
| Payments on revolving credit facilities | (803.6) | (862.8) |
| Proceeds from issuance of long-term debt | 0.6 | 20.0 |
| Purchases of treasury stock | (8.4) | (7.8) |
| Equity awards redeemed to pay employees’ tax obligations | (3.8) | (3.6) |
| Payment of cash dividends | (14.9) | (10.9) |
| Net cash provided by financing activities | 43.3 | 68.2 |
| Effect of exchange rates on cash and cash equivalents | (0.2) | 0.4 |
| Net decrease in cash and cash equivalents, including cash classified as held for sale | (40.5) | (24.7) |
| Less: net decrease in cash classified as held for sale | — | (1.7) |
| Net decrease in cash and cash equivalents | (40.5) | (23.0) |
| Cash and cash equivalents at beginning of period | 63.3 | 29.2 |
| Cash and cash equivalents at end of period | $22.8 | $6.2 |
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