CHEMED CORP
For the period ended Dec 31, 2023. Filed Feb 29, 2024.
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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.
FY2023 · Filed Feb 29, 2024
CHE$544.49+1.2%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 | |||
|---|---|---|---|
| Chemed Corporation and Subsidiary Companies | |||
| (in thousands) | |||
| For the Years Ended December 31, | 2023 | 2022 | 2021 |
| Cash Flows from Operating Activities | |||
| Net income | $272,509 | $249,624 | $268,550 |
| Adjustments to reconcile net income to net cash provided by operations: | |||
| Depreciation and amortization | 60,865 | 59,172 | 59,051 |
| Stock option expense | 30,082 | 26,254 | 22,502 |
| Deferred payroll taxes | - | (18,175) | (18,175) |
| Noncash portion of long-term incentive compensation | 9,267 | 6,188 | 7,745 |
| (Benefit)/provision for deferred income taxes | (8,027) | 14,827 | 2,400 |
| Litigation settlements | 2,050 | 4,000 | (9,440) |
| Noncash directors' compensation | 1,444 | 1,170 | 1,173 |
| Amortization of debt issuance costs | 580 | 342 | 306 |
| Changes in operating assets and liabilities: | |||
| Increase in accounts receivable | (41,488) | (2,414) | (8,431) |
| Increase in inventories | (1,732) | (162) | (3,014) |
| Decrease/(increase) in prepaid expenses | 87 | 2,397 | (6,511) |
| (Decrease)/increase in accounts payable and other current liabilities | (9,348) | 15,343 | 9,832 |
| Change in current income taxes | 11,748 | (996) | (20,401) |
| Net change in lease assets and liabilities | (1,424) | 1,471 | (44) |
| Increase in other assets | (9,952) | (45,779) | (10,305) |
| Increase/(decrease) in other liabilities | 12,802 | (3,350) | 12,074 |
| Other sources/(uses) | 836 | (26) | 1,285 |
| Net cash provided by operating activities | 330,299 | 309,886 | 308,597 |
| Cash Flows from Investing Activities | |||
| Capital expenditures | (56,854) | (57,325) | (58,675) |
| Business combinations, net of cash acquired | (3,994) | (3,529) | - |
| Proceeds from sale of fixed assets | 640 | 2,330 | 904 |
| Other (uses)/sources | (434) | (878) | 14 |
| Net cash used by investing activities | (60,642) | (59,402) | (57,757) |
| Cash Flows from Financing Activities | |||
| Proceeds from exercise of stock options | 102,192 | 44,968 | 35,848 |
| Payments on other long-term debt | (97,500) | (2,500) | - |
| Proceeds from other long-term debt | - | 100,000 | - |
| Purchases of treasury stock | (67,697) | (114,515) | (576,042) |
| Dividends paid | (23,502) | (22,017) | (22,016) |
| Change in cash overdraft payable | 15,749 | (11,884) | 11,884 |
| Capital stock surrendered to pay taxes on stock-based compensation | (9,557) | (15,611) | (15,129) |
| Payments on revolving line of credit | - | (306,800) | (25,300) |
| Proceeds from revolving line of credit | - | 121,800 | 210,300 |
| Debt issuance costs | - | (1,586) | - |
| Other sources/(uses) | 490 | (1,108) | (165) |
| Net cash used by financing activities | (79,825) | (209,253) | (380,620) |
| Increase/(decrease) in cash and cash equivalents | 189,832 | 41,231 | (129,780) |
| Cash and cash equivalents at beginning of year | 74,126 | 32,895 | 162,675 |
| Cash and cash equivalents at end of year | $263,958 | $74,126 | $32,895 |
| The Notes to Consolidated Financial Statements are integral parts of these statements. | |||
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