UFP INDUSTRIES INC
For the period ended Dec 28, 2024. Filed Feb 26, 2025.
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FY2024 · Filed Feb 26, 2025
UFPI$80.79-2.3%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 of United States dollars) · · Year Ended | |||||||||
| · · December 28, · · December 30, · · December 31, | |||||||||
| · 2024 · 2023 · 2022 | |||||||||
| CASH FLOWS FROM OPERATING ACTIVITIES: · · · · · · · | |||||||||
| Net earnings | | $418,733 | $514,457 | $704,964 | |||||
| Adjustments to reconcile net earnings to net cash from operating activities: | | | | | | | | ||
| Depreciation | | 124,641 | | 110,563 | | 94,063 | |||
| Amortization of intangibles | | 23,521 | | 21,327 | | 19,499 | |||
| Expense associated with share-based and grant compensation arrangements | | 38,163 | | 34,899 | | 28,156 | |||
| Deferred income taxes | | (15,382) | | (5,573) | | (16,289) | |||
| Unrealized (gain) loss on investments and other | | (1,217) | | (2,435) | | 5,768 | |||
| Equity in (earnings) loss of investee | | | (89) | | | 2,367 | | | 2,183 |
| Net loss (gain) on sale, disposition and impairment of assets | | 678 | | (260) | | 1,285 | |||
| Impairment of goodwill and other intangibles | | | 5,479 | | | — | | | 4,261 |
| Gain from reduction of estimated earnout liability | | | (2,460) | | | (3,177) | | | — |
| Changes in: | | | | | | | | ||
| Accounts receivable | | 47,070 | | 81,659 | | 130,704 | |||
| Inventories | | 6,356 | | 250,561 | | 718 | |||
| Accounts payable and cash overdraft | | 22,394 | | (3,578) | | (137,907) | |||
| Accrued liabilities and other | | (25,316) | | (40,920) | | (5,838) | |||
| NET CASH FROM OPERATING ACTIVITIES | | 642,571 | | 959,890 | | 831,567 | |||
| CASH FLOWS USED IN INVESTING ACTIVITIES: | | | | | | | | ||
| Purchases of property, plant and equipment | | (232,274) | | (180,382) | | (174,124) | |||
| Proceeds from sale of property, plant and equipment | | 11,501 | | 3,291 | | 3,805 | |||
| Acquisitions, net of cash received and purchase of equity method investment | | (29,830) | | (52,383) | | (180,151) | |||
| Purchases of investments | | (55,397) | | (29,806) | | (19,875) | |||
| Proceeds from sale of investments | | 30,844 | | 29,935 | | 12,874 | |||
| Other | | 4,406 | | (10,819) | | 3,535 | |||
| NET CASH USED IN INVESTING ACTIVITIES | | (270,750) | | (240,164) | | (353,936) | |||
| CASH FLOWS USED IN FINANCING ACTIVITIES: | | | | | | | | ||
| Borrowings under revolving credit facilities | | 29,913 | | 28,462 | | 605,101 | |||
| Repayments under revolving credit facilities | | (32,256) | | (30,125) | | (607,549) | |||
| Repayments of debt | | | (40,000) | | | (29) | | | (38,719) |
| Repayment of debt on behalf of investee | | | (6,303) | | | — | | | — |
| Contingent consideration payments and other | | | (4,868) | | | (6,262) | | | (2,856) |
| Proceeds from issuance of common stock | | 2,811 | | 2,750 | | 2,769 | |||
| Dividends paid to shareholders | | (80,782) | | (68,238) | | (58,860) | |||
| Distributions to noncontrolling interest | | | (11,848) | | | (7,355) | | | (12,024) |
| Purchase of remaining noncontrolling interest of subsidiary | | | (4,902) | | | — | | | — |
| Payments to taxing authorities in connection with shares directly withheld from employees | | | (17,838) | | | — | | | — |
| Repurchase of common stock | | (141,120) | | (82,149) | | (95,774) | |||
| Other | | 73 | | 86 | | (2,298) | |||
| NET CASH USED IN FINANCING ACTIVITIES | | (307,120) | | (162,860) | | (210,210) | |||
| Effect of exchange rate changes on cash | | (7,363) | | 5,767 | | 979 | |||
| NET CHANGE IN CASH AND CASH EQUIVALENTS | | 57,338 | | 562,633 | | 268,400 | |||
| CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, BEGINNING OF YEAR | | 1,122,256 | | 559,623 | | 291,223 | |||
| CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, END OF PERIOD | | $1,179,594 | | $1,122,256 | | $559,623 | |||
| RECONCILIATION OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH: | | | | | | | | | |
| Cash and cash equivalents, beginning of period | | $1,118,329 | | $559,397 | | $286,662 | |||
| Restricted cash, beginning of period | | | 3,927 | | | 226 | | | 4,561 |
| Cash, cash equivalents, and restricted cash, beginning of period | | $1,122,256 | | $559,623 | | $291,223 | |||
| Cash and cash equivalents, end of period | | $1,171,828 | | $1,118,329 | | $559,397 | |||
| Restricted cash, end of period | | | 7,766 | | | 3,927 | | | 226 |
| Cash, cash equivalents, and restricted cash, end of period | | $1,179,594 | | $1,122,256 | | $559,623 | |||
| SUPPLEMENTAL INFORMATION: | | | | | | | | ||
| Interest paid | | $12,762 | | $12,736 | | $13,953 | |||
| Income taxes paid | | 128,115 | | 158,145 | | 274,616 | |||
| NON-CASH INVESTING ACTIVITIES: | | | | | | | | ||
| Capital expenditures included in accounts payable | | $3,485 | | $3,178 | | 3,185 | |||
| NON-CASH FINANCING ACTIVITIES: | | | | | | | | | |
| Common stock issued under deferred compensation plans | | $11,920 | | $10,978 | | $9,282 | |||
See notes to consolidated financial statements
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