Knowles Corp
For the period ended Dec 31, 2024. Filed Feb 13, 2025.
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FY2024 · Filed Feb 13, 2025
KN$32.74-0.9%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 millions)
| Years Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Operating Activities | |||
| Net (loss) earnings | $(237.8) | $72.4 | $(430.1) |
| Adjustments to reconcile net (loss) earnings to cash from operating activities: | |||
| Goodwill impairment | 262.5 | — | 470.9 |
| Depreciation and amortization | 50.3 | 46.5 | 53.9 |
| Stock-based compensation | 22.8 | 29.0 | 28.6 |
| Deferred income taxes | 9.5 | (40.3) | 1.6 |
| Non-cash interest expense and amortization of debt issuance costs | 8.1 | 2.0 | 0.7 |
| Non-cash restructuring charges | 0.7 | (1.8) | 13.5 |
| Gain on sale of asset | (7.2) | — | — |
| Gain on sale of business | (6.8) | — | — |
| (Gain) loss on sale or disposal of fixed assets | (1.1) | (10.0) | 0.5 |
| Other, net | 1.8 | (0.9) | (5.9) |
| Changes in assets and liabilities (excluding effects of foreign exchange): | |||
| Receivables, net | 4.0 | 12.7 | 11.1 |
| Inventories | 1.6 | 11.5 | (22.8) |
| Prepaid and other current assets | 1.4 | (0.4) | 2.0 |
| Accounts payable | 25.0 | 6.2 | (41.2) |
| Accrued compensation and employee benefits | 3.5 | 4.0 | (15.0) |
| Other accrued expenses | (3.0) | (2.0) | (0.3) |
| Accrued taxes | 1.6 | (0.4) | 1.3 |
| Other non-current assets and non-current liabilities | (6.8) | (5.8) | 17.5 |
| Net cash provided by operating activities | 130.1 | 122.7 | 86.3 |
| Investing Activities | |||
| Proceeds from the sale of business | 58.0 | — | — |
| Payment to finance seller loan | (6.4) | — | — |
| Proceeds from the sale of asset | 7.2 | — | — |
| Acquisitions of businesses (net of cash acquired) | — | (136.9) | (0.7) |
| Acquisition of asset | — | (0.3) | — |
| Capital expenditures | (13.6) | (16.9) | (32.1) |
| Proceeds from the sale of property, plant, and equipment | — | 12.5 | 0.1 |
| Purchase of investments | (0.5) | (0.4) | (0.4) |
| Proceeds from the sale of investments | 0.5 | 0.4 | 0.4 |
| Net cash provided by (used in) investing activities | 45.2 | (141.6) | (32.7) |
| Financing Activities | |||
| Payments under revolving credit facility | (166.0) | (35.0) | (48.0) |
| Payments under Seller Note | (50.0) | — | — |
| Borrowings under revolving credit facility | 140.0 | 150.0 | 23.0 |
| Repurchase of common stock | (53.7) | (47.5) | (44.0) |
| Payments of debt issuance costs | — | (2.2) | — |
| Proceeds from the exercise of stock options | 5.8 | 1.6 | 7.5 |
| Tax on restricted and performance stock unit vesting and stock option exercises | (6.6) | (6.2) | (6.9) |
| Payments of finance lease obligations | (1.5) | (2.5) | (4.8) |
| Net cash (used in) provided by financing activities | (132.0) | 58.2 | (73.2) |
| Effect of exchange rate changes on cash and cash equivalents | (0.5) | (0.2) | (1.1) |
| Net increase (decrease) in cash and cash equivalents | 42.8 | 39.1 | (20.7) |
| Cash and cash equivalents at beginning of period | 87.3 | 48.2 | 68.9 |
| Cash and cash equivalents at end of period | $130.1 | $87.3 | $48.2 |
| Supplemental information - cash paid during the year for: | |||
| Income taxes | $14.9 | $10.6 | $6.2 |
| Interest | $12.0 | $5.4 | $3.6 |
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