Knowles Corp
For the period ended Dec 31, 2025. Filed Feb 9, 2026.
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FY2025 · Filed Feb 9, 2026
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, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Operating Activities | |||
| Net earnings (loss) | $44.2 | $(237.8) | $72.4 |
| Adjustments to reconcile net earnings (loss) to cash from operating activities: | |||
| Goodwill impairment | — | 262.5 | — |
| Depreciation and amortization | 36.3 | 50.3 | 46.5 |
| Stock-based compensation | 28.4 | 22.8 | 29.0 |
| Non-cash interest expense and amortization of debt issuance costs | 4.8 | 8.1 | 2.0 |
| Impairment charges on fixed assets | 3.6 | — | — |
| Loss (gain) on sale of business | 2.8 | (6.8) | — |
| Loss (gain) on sale or disposal of fixed assets | 0.1 | (1.1) | (10.0) |
| Deferred income taxes | 8.9 | 9.5 | (40.3) |
| Non-cash restructuring charges | — | 0.7 | (1.8) |
| Dividend income | (6.2) | — | — |
| Gain on sale of technology | — | (7.2) | — |
| Other, net | 8.8 | 1.8 | (0.9) |
| Changes in assets and liabilities (excluding effects of foreign exchange): | |||
| Receivables, net | 1.1 | 4.0 | 12.7 |
| Inventories | (5.1) | 1.6 | 11.5 |
| Prepaid and other current assets | (0.7) | 1.4 | (0.4) |
| Accounts payable | (18.0) | 25.0 | 6.2 |
| Accrued compensation and employee benefits | (0.2) | 3.5 | 4.0 |
| Other accrued expenses | (6.2) | (3.0) | (2.0) |
| Accrued taxes | (2.3) | 1.6 | (0.4) |
| Other non-current assets and non-current liabilities | 13.7 | (6.8) | (5.8) |
| Net cash provided by operating activities | 114.0 | 130.1 | 122.7 |
| Investing Activities | |||
| Proceeds from the sale of business | — | 58.0 | — |
| Payment to finance seller loan | — | (6.4) | — |
| Proceeds from the sale of technology | — | 7.2 | — |
| Proceeds from seller loan repayment | 0.5 | — | — |
| Acquisitions of businesses (net of cash acquired) | — | — | (136.9) |
| Acquisition of asset | — | — | (0.3) |
| Capital expenditures | (32.1) | (13.6) | (16.9) |
| Proceeds from the sale of property, plant, and equipment | — | — | 12.5 |
| Purchase of investments | (1.6) | (0.5) | (0.4) |
| Proceeds from the sale of investments | 1.6 | 0.5 | 0.4 |
| Net cash (used in) provided by investing activities | (31.6) | 45.2 | (141.6) |
| Financing Activities | |||
| Payments under revolving credit facility | (55.0) | (166.0) | (35.0) |
| Payments under Seller Note | (72.7) | (50.0) | — |
| Borrowings under revolving credit facility | 35.0 | 140.0 | 150.0 |
| Repurchase of common stock | (65.0) | (53.7) | (47.5) |
| Payments of debt issuance costs | — | — | (2.2) |
| Proceeds from exercise of stock options | 6.7 | 5.8 | 1.6 |
| Tax on restricted and performance stock unit vesting and stock option exercises | (7.4) | (6.6) | (6.2) |
| Payments of finance lease obligations | (0.5) | (1.5) | (2.5) |
| Net cash (used in) provided by financing activities | (158.9) | (132.0) | 58.2 |
| Effect of exchange rate changes on cash and cash equivalents | 0.6 | (0.5) | (0.2) |
| Net (decrease) increase in cash and cash equivalents | (75.9) | 42.8 | 39.1 |
| Cash and cash equivalents at beginning of period | 130.1 | 87.3 | 48.2 |
| Cash and cash equivalents at end of period | $54.2 | $130.1 | $87.3 |
| Supplemental information - cash paid during the year for: | |||
| Income taxes | $8.4 | $14.9 | $10.6 |
| Interest | $8.3 | $12.0 | $5.4 |
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