Latham Group Inc
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
SWIM$8.28-1.4%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
(in thousands)
| | | | | | | | |
|---|---|---|---|---|---|---|---|
| · · Three Fiscal Quarters Ended · | |||||||
| · · September 28, · · September 30, · | |||||||
| · · 2024 · 2023 · | |||||||
| Cash flows from operating activities: | | | | | | | |
| Net income (loss) | | $11,310 | | $(2,500) | | ||
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | | | | ||||
| Depreciation and amortization | | 32,291 | | 29,784 | | ||
| Amortization of deferred financing costs and debt discount | | 1,290 | | 1,290 | | ||
| Non-cash lease expense | | 5,349 | | 5,874 | | ||
| Change in fair value of interest rate swaps | | 887 | | 1,790 | | ||
| Stock-based compensation expense | | 5,187 | | 14,887 | | ||
| Bad debt expense | | | 1,817 | | | 4,984 | |
| Other non-cash, net | | | 1,666 | | | 34 | |
| Earnings from equity method investment | | | (2,785) | | | (2,468) | |
| Distributions received from equity method investment | | | 3,293 | | | 2,330 | |
| Changes in operating assets and liabilities: | | | | ||||
| Trade receivables | | (35,639) | | (28,652) | | ||
| Inventories | | 25,518 | | 61,738 | | ||
| Prepaid expenses and other current assets | | (2,318) | | (25) | | ||
| Income tax receivable | | (6,554) | | (1,539) | | ||
| Other assets | | | 645 | | | (4,289) | |
| Accounts payable | | 10,385 | | 2,085 | | ||
| Accrued expenses and other current liabilities | | 3,430 | | (169) | | ||
| Other long-term liabilities | | (622) | | 2,969 | | ||
| Net cash provided by operating activities | | 55,150 | | 88,123 | | ||
| Cash flows from investing activities: | | | | ||||
| Purchases of property and equipment | | (13,861) | | (28,273) | | ||
| Acquisition of business, net of cash acquired | | (64,046) | | — | | ||
| Net cash used in investing activities | | (77,907) | | (28,273) | | ||
| Cash flows from financing activities: | | | | ||||
| Payments on long-term debt borrowings | | (19,625) | | (12,437) | | ||
| Proceeds from borrowings on revolving credit facility | | | — | | | 48,000 | |
| Payments on revolving credit facilities | | | — | | | (48,000) | |
| Repayments of finance lease obligations | | | (573) | | | (437) | |
| Net cash used in financing activities | | (20,198) | | (12,874) | | ||
| Effect of exchange rate changes on cash | | 54 | | (1,489) | | ||
| Net (decrease) increase in cash | | (42,901) | | 45,487 | | ||
| Cash at beginning of period | | 102,763 | | 32,626 | | ||
| Cash at end of period | | $59,862 | | $78,113 | | ||
| Supplemental cash flow information: | | | | ||||
| Cash paid for interest | | $20,481 | | $18,538 | | ||
| Income taxes paid, net | | | 8,919 | | | 2,990 | |
| Supplemental disclosure of non-cash investing and financing activities: | | | | | |||
| Purchases of property and equipment included in accounts payable and accrued expenses | | $1,201 | | $484 | | ||
| Right-of-use operating and finance lease assets obtained in exchange for lease liabilities | | | 3,538 | | | 5,766 | |
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