Tecnoglass Inc
For the period ended Dec 31, 2024. Filed Feb 28, 2025.
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FY2024 · Filed Feb 28, 2025
TGLS$45.45-3.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated statements of Cash Flows
(In thousands)
| Year ended December 31, | |||||
|---|---|---|---|---|---|
| 2024 · 2023 · 2022 | |||||
| CASH FLOWS FROM OPERATING ACTIVITIES | |||||
| Net income | $161,309 | $183,510 | $156,412 | ||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||
| Provision for bad debts | 857 | 2,809 | 643 | ||
| Provision for obsolete inventory | 98 | 67 | 19 | ||
| Depreciation and amortization | 26,470 | 21,878 | 19,686 | ||
| Deferred income taxes | (1,870) | 8,345 | 5,484 | ||
| Equity method income | (5,397) | (5,013) | (6,680) | ||
| Deferred cost of financing | 1,214 | 1,243 | 1,370 | ||
| Other non-cash adjustments | 34 | 120 | (36) | ||
| Unrealized currency translation losses | 11,984 | (25,854) | 15,385 | ||
| Changes in operating assets and liabilities: | |||||
| Trade accounts receivable | (44,388) | (780) | (54,179) | ||
| Inventories | (2,880) | (522) | (63,937) | ||
| Prepaid expenses | (4,017) | (2,849) | (2,405) | ||
| Other assets | (2,996) | (27,547) | (483 | ||
| Other liabilities | 94 | (62) | (1,862) | ||
| Trade accounts payable and accrued expenses | 14,660 | (17,428) | 7,220 | ||
| Accrued interest expense | 1 | (1) | (1) | ||
| Taxes payable | (4,344) | (12,851) | 45,250) | ||
| Labor liabilities | 1,090 | 1,109 | 927 | ||
| Contract assets and liabilities | 14,322 | 13,871 | 16,174 | ||
| Related parties | 4,291 | (1,218) | 2,933 | ||
| CASH PROVIDED BY OPERATING ACTIVITIES | $170,532 | $138,827 | $141,920 | ||
| CASH FLOWS FROM INVESTING ACTIVITIES | |||||
| Dividends received | 2,703 | 2,282 | - | ||
| Purchase of investments | (429) | (339) | (1,257) | ||
| Acquisition of property and equipment | (79,563) | (77,960) | (71,327) | ||
| CASH USED IN INVESTING ACTIVITIES | $(77,289) | $(76,017) | $(72,584) | ||
| CASH FLOWS FROM FINANCING ACTIVITIES | |||||
| Cash dividend | (19,743) | (16,427) | (12,869) | ||
| Stock buyback | (291) | (23,537) | - | ||
| Non controlling interest purchase | (2,500) | (3,000) | - | ||
| Proceeds from debt | 2,532 | 196 | 49 | ||
| Repayments of debt | (64,547) | - | (31,981) | ||
| CASH USED IN FINANCING ACTIVITIES | $(84,549) | $(42,768) | $(44,801) | ||
| Effect of exchange rate changes on cash and cash equivalents | $(3,320) | $5,795 | $(5,875) | ||
| NET INCREASE IN CASH | 5,374 | 25,837 | 18,660 | ||
| CASH – Beginning of period | 129,508 | 103,671 | 85,011 | ||
| CASH – End of period | $134,882 | $129,508 | $103,671 | ||
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION | |||||
| Cash paid during the period for: | |||||
| Interest | $9,977 | $11,624 | $6,421 | ||
| Income Tax | $86,602 | $107,150 | $27,191 | ||
| NON-CASH INVESTING AND FINANCING ACTIVITIES: | |||||
| Assets acquired under credit or debt | $6,410 | $9,311 | $11,800 | ||
| Unpaid portion of non-controlling interest purchase | $ | - | $2,500 | $ | - |
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