Clean Energy Fuels Corp
For the period ended Dec 31, 2024. Filed Feb 24, 2025.
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FY2024 · Filed Feb 24, 2025
CLNE$1.83-5.2%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
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
| | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|
| · · Year Ended December 31, | |||||||||
| | 2022 | 2023 | 2024 | ||||||
| Cash flows from operating activities: | | | | | | | | | |
| Net loss | | $(59,590) | | $(100,098) | | $(83,689) | |||
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | | | | | | | |||
| Depreciation and amortization | | 54,674 | | 45,674 | | 44,737 | |||
| Provision for credit losses and inventory | | 2,035 | | 1,773 | | 2,682 | |||
| Stock-based compensation expense | | 26,473 | | 23,336 | | 10,803 | |||
| Stock-based sales incentive charges | | | 24,302 | | | 60,609 | | | 60,764 |
| Change in fair value of derivative instruments | | (517) | | 158 | | 131 | |||
| Amortization of debt issuance costs | | | 58 | | | 1,571 | | | 4,775 |
| Amortization of discounts and Section 30C tax credit | | (1,770) | | (6,279) | | (6,343) | |||
| Loss (gain) on disposal of property and equipment | | 12 | | 863 | | 468 | |||
| Loss on extinguishment of debt | | 3,413 | | 5,367 | | — | |||
| Asset impairments and other charges | | — | | 634 | | 380 | |||
| Impairment of investments in equity securities | | — | | — | | 8,102 | |||
| Loss from equity method investments | | 4,824 | | 12,510 | | 26,576 | |||
| Non-cash lease expense | | | 3,400 | | | 6,854 | | | 9,385 |
| Deferred income taxes | | | 173 | | | (515) | | | 2,630 |
| Changes in operating assets and liabilities: | | | | | | | |||
| Accounts and other receivables | | (1,072) | | (7,711) | | (8,177) | |||
| Inventory | | (9,318) | | (11,391) | | (57) | |||
| Prepaid expenses and other assets | | (1,366) | | 510 | | 6,033 | |||
| Operating lease liabilities | | | (3,314) | | | (3,957) | | | (6,087) |
| Accounts payable | | 9,324 | | 14,770 | | (18,784) | |||
| Deferred revenue | | (1,281) | | (883) | | 2,205 | |||
| Accrued liabilities and other | | 16,271 | | (18) | | 8,045 | |||
| Net cash provided by operating activities | | 66,731 | | 43,777 | | 64,579 | |||
| Cash flows from investing activities: | | | | | |||||
| Purchases of short-term investments | | (410,027) | | (491,253) | | (914,210) | |||
| Maturities and sales of short-term investments | | 401,639 | | 479,288 | | 950,644 | |||
| Payment and deposits on equipment and manure rights for ADG RNG production projects | | (8,986) | | (20,348) | | (14,959) | |||
| Purchases of and deposits on property and equipment | | (44,518) | | (100,934) | | (64,997) | |||
| Grant proceeds for capital projects | | | — | | | 1,947 | | | 952 |
| Proceeds received for joint development and construction of station projects | | — | | 3,224 | | 6,980 | |||
| Disbursements for loans receivable | | (2,310) | | (3,500) | | (10,398) | |||
| Proceeds from paydowns, maturities, and sales of loans receivable | | 1,116 | | 2,256 | | 310 | |||
| Cash received from sale of certain assets of subsidiary, net | | 3,885 | | — | | — | |||
| Investments in other entities | | (89,700) | | (73,450) | | (32,892) | |||
| Advance to DR JV | | | — | | (5,500) | | — | ||
| Proceeds from repayment of advance by DR JV | | | — | | 5,500 | | — | ||
| Proceeds from settlement of insurance claims | | | — | | 495 | | 314 | ||
| Proceeds from disposal of property and equipment | | 360 | | 262 | | 576 | |||
| Net cash (used in) investing activities | | (148,541) | | (202,013) | | (77,680) | |||
| Cash flows from financing activities: | | | | | |||||
| Issuance of common stock | | 1,365 | | 242 | | 64 | |||
| Payment of tax withholdings on net settlement of equity awards | | | — | | | (175) | | | (340) |
| Fees paid for lender and debt issuance costs | | | (486) | | | (9,484) | | | (890) |
| Proceeds for Adopt-A-Port program | | | 1,410 | | | 955 | | | 3,390 |
| Repayment of proceeds for Adopt-A-Port program | | | (1,163) | | | (1,441) | | | (1,934) |
| Proceeds from debt instruments | | 159,883 | | 300,255 | | — | |||
| Proceeds from revolving line of credit | | | 1,700 | | | — | | | — |
| Repayments of borrowing under revolving line of credit | | (1,700) | | — | | — | |||
| Repayments of debt instruments and finance lease obligations | | (49,999) | | (151,148) | | (2,234) | |||
| Payments of debt extinguishment costs | | | (3,239) | | | (83) | | | — |
| Net cash provided by (used in) financing activities | | 101,649 | | 139,121 | | (1,944) | |||
| Effect of exchange rates on cash, cash equivalents and restricted cash | | (345) | | 128 | | (356) | |||
| Net increase (decrease) in cash, cash equivalents and restricted cash | | 19,494 | | (18,987) | | (15,401) | |||
| Cash, cash equivalents and restricted cash, beginning of period | | 106,456 | | 125,950 | | 106,963 | |||
| Cash, cash equivalents and restricted cash, end of period | | $125,950 | | $106,963 | | $91,562 | |||
| Supplemental disclosure of cash flow information: | | | | ||||||
| Income taxes paid | | $68 | | $77 | | $60 | |||
| Interest paid, net of $0, $2,587 and $2,057 capitalized, respectively | | $1,873 | | $16,360 | | $27,402 | |||
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
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