V2X Inc
For the period ended Sep 27, 2024. Filed Nov 4, 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.
Sep 27, 2024 · Filed Nov 4, 2024
VVX$82.71+1.1%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
| Nine Months Ended | ||
|---|---|---|
| September 27, | September 29, | |
| (In thousands) | 2024 | 2023 |
| Operating activities | ||
| Net income (loss) | $9,651 | $(22,081) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
| Depreciation expense | 16,442 | 16,532 |
| Amortization of intangible assets | 68,252 | 67,818 |
| Amortization of cloud computing arrangements | 2,073 | 213 |
| Impairment of non-operating long-lived asset | 2,192 | — |
| Loss on disposal of property, plant, and equipment | 1,170 | 625 |
| Stock-based compensation | 12,874 | 26,809 |
| Deferred taxes | 72 | (9,887) |
| Amortization of debt issuance costs | 5,717 | 6,875 |
| Loss on extinguishment of debt | 1,998 | 22,052 |
| Changes in assets and liabilities: | ||
| Receivables | (25,614) | 9,647 |
| Other assets | (70,827) | 7,916 |
| Accounts payable | 66,101 | 28,094 |
| Compensation and other employee benefits | (42,417) | (28,620) |
| Other liabilities | (16,581) | 9,182 |
| Net cash provided by operating activities | 31,103 | 135,175 |
| Investing activities | ||
| Purchases of capital assets | (10,700) | (16,559) |
| Proceeds from the disposition of assets | 14 | 16 |
| Acquisitions of businesses | (16,939) | — |
| Distribution from joint venture | — | 834 |
| Net cash used in investing activities | (27,625) | (15,709) |
| Financing activities | ||
| Proceeds from issuance of long-term debt | — | 250,000 |
| Repayments of long-term debt | (7,669) | (428,763) |
| Proceeds from revolver | 1,009,250 | 719,750 |
| Repayments of revolver | (1,009,250) | (669,750) |
| Proceeds from stock awards and stock options | 154 | 7 |
| Payment of debt issuance costs | (1,188) | (7,507) |
| Prepayment premium on early redemption of debt | — | (1,600) |
| Payments of employee withholding taxes on stock-based compensation | (8,036) | (17,871) |
| Net cash used in financing activities | (16,739) | (155,734) |
| Exchange rate effect on cash | 467 | (1,540) |
| Net change in cash, cash equivalents and restricted cash | (12,794) | (37,808) |
| Cash, cash equivalents and restricted cash - beginning of period | 72,651 | 116,067 |
| Cash, cash equivalents and restricted cash - end of period | $59,857 | $78,259 |
| Supplemental disclosure of cash flow information: | ||
| Interest paid | $74,774 | $89,635 |
| Income taxes paid | $9,167 | $5,242 |
| Purchase of capital assets on account | $90 | $2,882 |
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