Blue Bird Corp
For the period ended Dec 30, 2023. Filed Feb 7, 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.
Dec 30, 2023 · Filed Feb 7, 2024
BLBD$57.34-4.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| Three Months Ended | ||
|---|---|---|
| (in thousands of dollars) | December 30, 2023 | December 31, 2022 |
| Cash flows from operating activities | ||
| Net income (loss) | $26,150 | $(11,294) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
| Depreciation and amortization expense | 3,618 | 3,361 |
| Non-cash interest expense | 132 | 417 |
| Share-based compensation expense | 2,051 | 589 |
| Equity in net income of non-consolidated affiliate | (1,962) | (69) |
| Dividend from equity investment in affiliate | 2,991 | — |
| Loss on disposal of fixed assets | 4 | — |
| Deferred income tax expense (benefit) | 1,143 | (2,986) |
| Amortization of deferred actuarial pension losses | 172 | 299 |
| Loss on debt refinancing or modification | 1,558 | 537 |
| Changes in assets and liabilities: | ||
| Accounts receivable | 1,467 | 3,409 |
| Inventories | (7,171) | 13,857 |
| Other assets | (3,095) | (5,227) |
| Accounts payable | (23,103) | 16,572 |
| Accrued expenses, pension and other liabilities | (3,738) | 461 |
| Total adjustments | $(25,933) | $31,220 |
| Total cash provided by operating activities | $217 | $19,926 |
| Cash flows from investing activities | ||
| Cash paid for fixed assets | $(2,904) | $(1,146) |
| Proceeds from sale of fixed assets | — | — |
| Total cash used in investing activities | $(2,904) | $(1,146) |
| Cash flows from financing activities | ||
| Revolving credit facility borrowings (Note 4) | $36,220 | $5,000 |
| Revolving credit facility repayments | — | (20,000) |
| Term loan borrowings - new credit agreement (Note 4) | 100,000 | — |
| Term loan repayments - previous credit agreement (Note 4) | (131,800) | (4,950) |
| Principal payments on finance leases | (145) | (141) |
| Cash paid for debt costs (Note 4) | (3,128) | (3,211) |
| Repurchase of common stock in connection with stock award exercises | (301) | (57) |
| Cash received from stock option exercises | 149 | — |
| Total cash provided by (used in) financing activities | $995 | $(23,359) |
| Change in cash, cash equivalents, and restricted cash | (1,692) | (4,579) |
| Cash, cash equivalents, and restricted cash at beginning of period | 78,988 | 10,479 |
| Cash, cash equivalents, and restricted cash at end of period | $77,296 | $5,900 |
| Three Months Ended | ||
|---|---|---|
| (in thousands of dollars) | December 30, 2023 | December 31, 2022 |
| Supplemental disclosures of cash flow information | ||
| Cash paid or received during the period: | ||
| Interest paid, net of interest received | $1,807 | $3,170 |
| Income tax paid (received), net of tax refunds | 2 | (90) |
| Non-cash investing and financing activities: | ||
| Changes in accounts payable for capital additions to property, plant and equipment | $953 | $672 |
| Accrue debt modification costs | — | 61 |
| Right-of-use assets obtained in exchange for operating lease obligations | 1,241 | 199 |
| Warrants issued for equity investment in affiliate | 7,416 | — |
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