Blue Bird Corp

For the period ended Sep 28, 2024. Filed Nov 25, 2024.

About this filing

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.

FY2024 · Filed Nov 25, 2024

BLBD$57.34-4.9%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

Item 8. Consolidated Statements of Cash Flows

CONSOLIDATED STATEMENTS OF CASH FLOWS

	Fiscal Years Ended
(in thousands)	2024	2023	2022
Cash flows from operating activities
Net income (loss)	$105,547	$23,812	$(45,759)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization expense	14,820	15,978	14,050
Non-cash interest expense	390	1,470	3,400
Share-based compensation expense	8,609	4,173	3,690
Equity in net (income) loss of non-consolidated affiliate(s)	(11,839)	(6,960)	4,159
Dividend from equity investment in affiliate(s)	5,338	—	—
Loss on disposal of fixed assets	200	64	15
Impairment of fixed assets	—	—	1,354
Lower of cost or net realizable value loss	—	—	8,752
Deferred income tax (benefit) expense	(1,674)	8,065	(11,071)
Amortization of deferred actuarial pension losses	687	1,195	3,768
Loss on debt refinancing or modification	1,558	537	632
Changes in assets and liabilities:
Accounts receivable	(46,525)	(40)	(2,567)
Inventories	7,488	7,691	(26,523)
Other assets	971	453	1,913
Accounts payable	6,665	28,712	35,075
Accrued expenses, pension and other liabilities	18,877	34,778	(15,325)
Total adjustments	$5,565	$96,116	$21,322
Total cash provided by (used in) operating activities	$111,112	$119,928	$(24,437)
Cash flows from investing activities
Cash paid for fixed assets	$(15,263)	$(8,520)	$(6,453)
Equity investment in affiliate(s) (Note 17)	(552)	—	—
Total cash used in investing activities	$(15,815)	$(8,520)	$(6,453)
Cash flows from financing activities
Revolving credit facility borrowings (Note 8)	$36,220	$45,000	$135,000
Revolving credit facility repayments	(36,220)	(65,000)	(160,000)
Term loan borrowings - new credit agreement (Note 8)	100,000	—	—
Term loan repayments (Note 8)	(135,550)	(19,800)	(14,850)
Principal payments on finance leases	(589)	(570)	(1,132)
Cash paid for debt costs (Note 8)	(3,128)	(3,272)	(2,751)
Sale of common stock (Note 13)	—	—	75,000
Cash paid for common stock issuance costs (Note 13)	—	—	(202)
Repurchase of common stock in connection with repurchase program (Note 13)	(9,938)	—	—
Repurchase of common stock in connection with stock award exercises	(1,178)	(376)	(1,708)
Cash received from stock option exercises	3,785	1,119	303
Total cash (used in) provided by financing activities	$(46,598)	$(42,899)	$29,660
Change in cash and cash equivalents	48,699	68,509	(1,230)
Cash and cash equivalents, beginning of year	78,988	10,479	11,709
Cash and cash equivalents, end of year	$127,687	$78,988	$10,479

	Fiscal Years Ended
(in thousands)	2024	2023	2022
Supplemental disclosures of cash flow information
Cash paid or received during the period:
Interest paid	$9,932	$16,053	$15,180
Interest received	(3,783)	(1,004)	(9)
Income tax paid (received), net of tax refunds	29,401	(29)	(79)
Non-cash investing and financing activities:
Changes in accounts payable for capital additions to property, plant and equipment	$721	$941	$948
Right-of-use assets obtained in exchange for operating lease obligations	1,682	626	1,424
Finance lease right-of-use assets removed due to non-renewal of lease	—	—	(2,451)
Finance lease obligations removed due to non-renewal of lease	—	—	2,593
Warrants issued for equity investment in affiliate (Note 17)	7,416	—	—

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.