MILLER INDUSTRIES INC TN
For the period ended Dec 31, 2024. Filed Mar 5, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 5, 2025
MLR$48.10-1.1%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
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|---|---|---|---|---|---|---|---|---|
| | Years Ended December 31, | |||||||
| (in thousands) · 2024 · 2023 · 2022 | ||||||||
| CASH FLOWS FROM OPERATING ACTIVITIES: · · · | ||||||||
| Net income | $63,494 | | $58,291 | | $20,346 | |||
| Adjustments to reconcile net income to net cash flows from operating activities: | | | | |||||
| Depreciation and amortization | 14,070 | | 13,243 | | 11,762 | |||
| (Gain) Loss on disposal of property, plant and equipment | 128 | | (251) | | (53) | |||
| Provision for credit losses | 325 | | 203 | | 174 | |||
| Issuance of common stock, net of shares withheld for employee taxes | (198) | | 123 | | 200 | |||
| Stock-based compensation | | 3,226 | | | 1,059 | | | 743 |
| Deferred tax provision | (1,170) | | (2,181) | | 1,061 | |||
| Changes in operating assets and liabilities: | | | | | | | | |
| Accounts receivable | (28,149) | | (105,599) | | (24,345) | |||
| Inventories | 2,180 | | (30,421) | | (40,748) | |||
| Prepaid expenses | (1,247) | | 50 | | 1,130 | |||
| Other assets | 364 | | 63 | | 24 | |||
| Accounts payable | (45,430) | | 64,936 | | 4,485 | |||
| Accrued liabilities | 9,594 | | 10,996 | | 5,137 | |||
| Income taxes payable | (317) | | 451 | | 929 | |||
| Net cash flows provided by (used in) operating activities | 16,870 | | 10,963 | | (19,155) | |||
| | | | | | | | | |
| CASH FLOWS FROM INVESTING ACTIVITIES: | | | ||||||
| Purchases of property, plant and equipment | (15,352) | | (12,097) | | (28,939) | |||
| Proceeds from sale of property, plant and equipment | 59 | | 398 | | 8 | |||
| Acquisition of business | | 24 | | (17,376) | | — | ||
| Net cash flows provided by (used in) investing activities | (15,269) | | (29,075) | | (28,931) | |||
| | | | | | | | | |
| CASH FLOWS FROM FINANCING ACTIVITIES: | | | ||||||
| Repurchase of common stock | | (2,898) | | — | | — | ||
| Net borrowings under credit facility | | 5,000 | | 15,000 | | 45,000 | ||
| Payments of cash dividends | (8,721) | | (8,249) | | (8,220) | |||
| Finance lease obligation payments | — | | — | | (15) | |||
| Net cash flows provided by (used in) financing activities | (6,619) | | 6,751 | | 36,765 | |||
| | | | | | | | | |
| EFFECTS OF EXCHANGE RATE CHANGES ON CASH AND TEMPORARY INVESTMENTS | (554) | | 1,117 | | (2,858) | |||
| NET CHANGE IN CASH AND TEMPORARY INVESTMENTS | (5,572) | | (10,244) | | (14,179) | |||
| CASH AND TEMPORARY INVESTMENTS, beginning of period | 29,909 | | 40,153 | | 54,332 | |||
| CASH AND TEMPORARY INVESTMENTS, end of period | $24,337 | | $29,909 | | $40,153 | |||
| SUPPLEMENTAL INFORMATION: | | | ||||||
| Cash payments for interest | $9,711 | | $8,092 | | $3,332 | |||
| Cash payments for income taxes, net of refunds | $23,699 | | $18,053 | | $1,806 | |||
The accompanying notes are an integral part of these consolidated statements.
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| | 43 |
| PART II | ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA |
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