Matson Inc
For the period ended Sep 30, 2024. Filed Oct 31, 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 30, 2024 · Filed Oct 31, 2024
MATX$207.00-0.4%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows
| | | | | | | | |
|---|---|---|---|---|---|---|---|
| · · Nine Months Ended September 30, · | |||||||
| (In millions) · 2024 · 2023 | |||||||
| Cash Flows From Operating Activities: | | | | | | | |
| Net income | | $348.4 | | $234.7 | | ||
| Reconciling adjustments: | | | | | | | |
| Depreciation and amortization | | 114.7 | | 108.1 | | ||
| Amortization of operating lease right of use assets | | | 102.1 | | | 108.2 | |
| Deferred income taxes | | 16.2 | | (9.3) | | ||
| Share-based compensation expense | | 19.1 | | 17.6 | | ||
| (Income) loss from SSAT | | (8.5) | | 1.9 | | ||
| Distributions from SSAT | | | 14.0 | | | — | |
| Other | | | (9.1) | | | (1.7) | |
| Changes in assets and liabilities: | | | | | | | |
| Accounts receivable, net | | (31.7) | | (37.1) | | ||
| Deferred dry-docking payments | | (20.2) | | (17.3) | | ||
| Deferred dry-docking amortization | | 21.0 | | 18.6 | | ||
| Prepaid expenses and other assets | | 116.9 | | 65.8 | | ||
| Accounts payable, accruals and other liabilities | | 27.6 | | 34.4 | | ||
| Operating lease liabilities | | | (104.0) | | | (109.9) | |
| Other long-term liabilities | | (13.4) | | (14.9) | | ||
| Net cash provided by operating activities | | 593.1 | | 399.1 | | ||
| | | | | | | | |
| Cash Flows From Investing Activities: | | | | | | | |
| Capitalized vessel construction expenditures | | | (39.8) | | | (52.1) | |
| Capital expenditures (excluding vessel construction expenditures) | | (144.9) | | (135.4) | | ||
| Proceeds from disposal of property and equipment, net | | 4.4 | | | 0.1 | | |
| Payments for asset acquisitions | | | (0.7) | | | (12.4) | |
| Cash and interest deposited into the Capital Construction Fund | | (63.6) | | (120.8) | | ||
| Withdrawals from Capital Construction Fund | | | 35.8 | | | 49.9 | |
| Net cash used in investing activities | | (208.8) | | (270.7) | | ||
| | | | | | | | |
| Cash Flows From Financing Activities: | | | | | | | |
| Repayments of debt | | (30.0) | | (67.2) | | ||
| Dividends paid | | | (33.5) | | (33.8) | | |
| Repurchase of Matson common stock | | | (167.4) | | (108.2) | | |
| Tax withholding related to net share settlements of restricted stock units | | | (17.0) | | | (12.5) | |
| Net cash used in financing activities | | (247.9) | | (221.7) | | ||
| | | | | | | | |
| Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash | | 136.4 | | (93.3) | | ||
| Cash and Cash Equivalents, and Restricted Cash, Beginning of the Period | | 136.3 | | 253.7 | | ||
| Cash and Cash Equivalents, and Restricted Cash, End of the Period | | $272.7 | | $160.4 | | ||
| | | | | | | | |
| Reconciliation of Cash, Cash Equivalents and Restricted Cash, End of the Period: | | | | | | | |
| Cash and Cash Equivalents | | $270.3 | | $156.5 | | ||
| Restricted Cash | | | 2.4 | | | 3.9 | |
| Total Cash and Cash Equivalents, and Restricted Cash, End of the Period | | $272.7 | | $160.4 | | ||
| | | | | | | | |
| Supplemental Cash Flow Information: | | | | | | | |
| Interest paid, net of capitalized interest | | $5.3 | | $9.6 | | ||
| Income tax payments (refunds), net | | $(85.1) | | $(5.3) | | ||
| | | | | | | | |
| Non-cash Information: | | | | | | | |
| Capital expenditures included in accounts payable, accruals and other liabilities | | $26.9 | | $7.8 | | ||
| Non-cash payments for asset acquisitions | | $— | | $4.1 | | ||
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