Knowles Corp
For the period ended Mar 31, 2024. Filed May 1, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 1, 2024
KN$32.74-0.9%Stored close · as of Nov 10, 2026
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Consolidated Statements of Cash Flows (unaudited) for the
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in millions)
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Operating Activities | ||
| Net earnings (loss) | $2.5 | $(5.2) |
| Adjustments to reconcile net earnings (loss) to cash from operating activities: | ||
| Depreciation and amortization | 14.0 | 12.1 |
| Stock-based compensation | 6.7 | 7.8 |
| Deferred income taxes | 3.3 | 4.1 |
| Non-cash interest expense and amortization of debt issuance costs | 2.1 | 0.3 |
| Gain on sale of asset | (7.2) | — |
| Non-cash restructuring charges | 0.4 | — |
| Other, net | (0.2) | 1.8 |
| Changes in assets and liabilities (excluding effects of foreign exchange): | ||
| Receivables, net | 4.4 | 25.3 |
| Inventories, net | (9.3) | (38.0) |
| Prepaid and other current assets | (1.3) | (2.7) |
| Accounts payable | 17.2 | 27.8 |
| Accrued compensation and employee benefits | (7.6) | (5.9) |
| Other accrued expenses | (1.7) | (3.8) |
| Accrued taxes | (0.1) | (0.7) |
| Other non-current assets and non-current liabilities | (5.9) | (1.0) |
| Net cash provided by operating activities | 17.3 | 21.9 |
| Investing Activities | ||
| Proceeds from the sale of asset | 7.2 | — |
| Capital expenditures | (3.4) | (3.9) |
| Purchase of investments | (0.5) | — |
| Proceeds from the sale of investments | 0.5 | — |
| Net cash provided by (used in) investing activities | 3.8 | (3.9) |
| Financing Activities | ||
| Payments under revolving credit facility | (20.0) | — |
| Borrowings under revolving credit facility | 40.0 | — |
| Repurchase of common stock | — | (7.5) |
| Tax on restricted and performance stock unit vesting and stock option exercises | (5.8) | (6.0) |
| Payments of debt issuance costs | — | (1.6) |
| Payments of finance lease obligations | (0.6) | (0.6) |
| Proceeds from exercise of stock options | — | 1.4 |
| Net cash provided by (used in) financing activities | 13.6 | (14.3) |
| Effect of exchange rate changes on cash and cash equivalents | 0.1 | 0.1 |
| Net increase in cash and cash equivalents | 34.8 | 3.8 |
| Cash and cash equivalents at beginning of period | 87.3 | 48.2 |
| Cash and cash equivalents at end of period | $122.1 | $52.0 |
| Supplemental information - cash paid for: | ||
| Income taxes | $2.6 | $4.3 |
| Interest | $3.4 | $0.9 |
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