WEYCO GROUP INC
For the period ended Dec 31, 2024. Filed Mar 14, 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 14, 2025
WEYS$60.68-0.1%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| | | | | | | |
|---|---|---|---|---|---|---|
| | | | | | | |
| · · 2024 · · 2023 | ||||||
| · · (Dollars in thousands) | ||||||
| CASH FLOWS FROM OPERATING ACTIVITIES: · · · · · | ||||||
| Net earnings | | $30,320 | | $30,188 | ||
| Adjustments to reconcile net earnings to net cash provided by operating activities - | | | | | ||
| Depreciation | | 2,483 | | 2,579 | ||
| Amortization | | 264 | | 271 | ||
| Bad debt expense | | 110 | | 519 | ||
| Deferred income taxes | | 1,057 | | 2,462 | ||
| Net foreign currency transaction (gains) losses | | (12) | | 99 | ||
| Share-based compensation expense | | 1,450 | | 1,352 | ||
| Pension expense | | 962 | | 1,293 | ||
| Impairment of trademark | | | 300 | | | 450 |
| Loss on disposal of fixed assets | | | 36 | | | 59 |
| Increase in cash surrender value of life insurance | | (738) | | (684) | ||
| Changes in operating assets and liabilities - | | | | | ||
| Accounts receivable | | 1,780 | | 13,531 | ||
| Inventories | | 821 | | 53,047 | ||
| Prepaid expenses and other assets | | 3,250 | | (358) | ||
| Accounts payable | | (419) | | (6,074) | ||
| Accrued liabilities and other | | (3,078) | | (982) | ||
| Income tax receivable | | (857) | | 879 | ||
| Net cash provided by operating activities | | 37,729 | | 98,631 | ||
| | | | | | | |
| CASH FLOWS FROM INVESTING ACTIVITIES: | | | ||||
| Proceeds from maturities of marketable securities | | 215 | | 1,960 | ||
| Proceeds from sale of investment securities | | | — | | | 107 |
| Purchases of property, plant and equipment | | (1,386) | | (3,309) | ||
| Net cash used for investing activities | | (1,171) | | (1,242) | ||
| | | | | | | |
| CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | ||
| Cash dividends paid | | (9,688) | | (9,286) | ||
| Prefunded dividend | | | (21,579) | | | — |
| Shares purchased and retired | | (586) | | (4,338) | ||
| Net proceeds from stock options exercised | | 51 | | | 103 | |
| Payment of contingent consideration | | — | | (500) | ||
| Taxes paid related to the net share settlement of equity awards | | (419) | | | (186) | |
| Proceeds from bank borrowings | | — | | 70,060 | ||
| Repayments of bank borrowings | | | — | | | (101,196) |
| Net cash used for financing activities | | (32,221) | | (45,343) | ||
| | | | | | | |
| Effect of exchange rate changes on cash and cash equivalents | | (2,686) | | 390 | ||
| | | | | | | |
| Net increase in cash and cash equivalents | | $1,651 | | $52,436 | ||
| | | | | | | |
| CASH AND CASH EQUIVALENTS at beginning of year | | 69,312 | | | 16,876 | |
| | | | | | | |
| CASH AND CASH EQUIVALENTS at end of year | | $70,963 | | $69,312 | ||
| | | | | | | |
| SUPPLEMENTAL CASH FLOW INFORMATION: | | | | | ||
| Income taxes paid, net of refunds | | $9,401 | | $7,115 | ||
| Interest paid | | $15 | | $977 | ||
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