Element Solutions Inc
For the period ended Dec 31, 2023. Filed Feb 21, 2024.
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FY2023 · Filed Feb 21, 2024
ESI$32.75-0.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows F-
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash flows from operating activities: | |||
| Net income | $118.2 | $188.0 | $203.7 |
| Income from discontinued operations, net of tax | 2.1 | 1.8 | 0.3 |
| Net income from continuing operations | 116.1 | 186.2 | 203.4 |
| Reconciliations of net income to net cash flows provided by operating activities: | |||
| Depreciation and amortization | 166.7 | 161.3 | 163.9 |
| Deferred income taxes | (69.9) | 15.1 | (46.7) |
| Foreign exchange (gain) loss | (10.6) | 3.4 | (6.9) |
| Incentive stock compensation | 9.4 | 17.7 | 40.1 |
| Goodwill impairment | 80.0 | — | — |
| Other, net | 42.2 | 11.4 | 18.0 |
| Changes in assets and liabilities, net of acquisitions: | |||
| Accounts receivable | (6.8) | 6.4 | (48.7) |
| Inventories | (9.5) | (31.2) | (46.5) |
| Accounts payable | 0.3 | (0.1) | 16.8 |
| Accrued expenses | 9.9 | (33.0) | 42.6 |
| Prepaid expenses and other current assets | 1.9 | (26.6) | (25.1) |
| Other assets and liabilities | 3.9 | (14.7) | 15.1 |
| Net cash flows provided by operating activities | 333.6 | 295.9 | 326.0 |
| Cash flows from investing activities: | |||
| Capital expenditures | (52.7) | (47.8) | (46.3) |
| Proceeds from disposal of property, plant and equipment | 1.4 | 4.8 | — |
| Acquisitions, net of cash acquired | (214.8) | (22.6) | (536.5) |
| Other, net | 15.9 | (9.6) | 13.9 |
| Net cash flows used in investing activities | (250.2) | (75.2) | (568.9) |
| Cash flows from financing activities: | |||
| Debt proceeds, net of discount | 1,297.1 | — | 398.0 |
| Repayments of borrowings | (1,264.1) | (16.4) | (10.0) |
| Repurchases of common stock | — | (151.0) | (19.6) |
| Dividends | (77.4) | (78.4) | (61.9) |
| Payment of financing fees | (6.3) | (1.9) | (5.1) |
| Other, net | (8.0) | (27.9) | (11.4) |
| Net cash flows (used in) provided by financing activities | (58.7) | (275.6) | 290.0 |
| Net cash flows provided by (used in) operating activities of discontinued operations | 2.2 | 1.8 | (3.5) |
| Effect of exchange rate changes on cash and cash equivalents | (3.2) | (11.4) | (5.4) |
| Net increase (decrease) in cash and cash equivalents | 23.7 | (64.5) | 38.2 |
| Cash and cash equivalents at beginning of period | 265.6 | 330.1 | 291.9 |
| Cash and cash equivalents at end of period | $289.3 | $265.6 | $330.1 |
| Supplemental disclosure information of continuing operations: | |||
| Cash paid for interest | $56.1 | $46.9 | $50.6 |
| Cash paid for income taxes | $73.7 | $66.5 | $71.2 |
| Supplemental disclosure information of discontinued operations: | |||
| Cash paid for income taxes | $— | $— | $3.1 |
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