ADVANCED DRAINAGE SYSTEMS INC
For the period ended Dec 31, 2023. Filed Feb 8, 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 31, 2023 · Filed Feb 8, 2024
WMS$128.75-1.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 1. Condensed Consolidated Financial Statements (Unaudited)
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited) (In thousands, except par value)
| December 31, 2023 | March 31, 2023 | |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash | $560,744 | $217,128 |
| Receivables (less allowance for doubtful accounts of $6,058 and $8,227, respectively) | 240,810 | 306,945 |
| Inventories | 405,409 | 463,994 |
| Other current assets | 31,459 | 29,422 |
| Total current assets | 1,238,422 | 1,017,489 |
| Property, plant and equipment, net | 810,887 | 733,059 |
| Other assets: | ||
| Goodwill | 617,397 | 620,193 |
| Intangible assets, net | 365,631 | 407,627 |
| Other assets | 129,622 | 122,757 |
| Total assets | $3,161,959 | $2,901,125 |
| LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS’ EQUITY | ||
| Current liabilities: | ||
| Current maturities of debt obligations | $12,275 | $14,693 |
| Current maturities of finance lease obligations | 12,844 | 8,541 |
| Accounts payable | 207,902 | 210,111 |
| Other accrued liabilities | 162,275 | 142,400 |
| Accrued income taxes | 13,829 | 3,057 |
| Total current liabilities | 409,125 | 378,802 |
| Long-term debt obligations (less unamortized debt issuance costs of $10,270 and $11,804, respectively) | 1,261,742 | 1,269,391 |
| Long-term finance lease obligations | 37,947 | 32,272 |
| Deferred tax liabilities | 159,296 | 159,056 |
| Other liabilities | 71,980 | 66,744 |
| Total liabilities | 1,940,090 | 1,906,265 |
| Commitments and contingencies (see Note 9) | ||
| Mezzanine equity: | ||
| Redeemable common stock: $0.01 par value; 7,488 and 9,429 shares outstanding, respectively | 121,686 | 153,220 |
| Total mezzanine equity | 121,686 | 153,220 |
| Stockholders’ equity: | ||
| Common stock; $0.01 par value: 1,000,000 shares authorized; 81,415 and 79,057 shares issued, respectively; 70,200 and 69,518 shares outstanding, respectively | 11,670 | 11,647 |
| Paid-in capital | 1,195,893 | 1,134,864 |
| Common stock in treasury, at cost | (1,110,670) | (920,999) |
| Accumulated other comprehensive loss | (26,601) | (27,580) |
| Retained earnings | 1,008,270 | 626,215 |
| Total ADS stockholders’ equity | 1,078,562 | 824,147 |
| Noncontrolling interest in subsidiaries | 21,621 | 17,493 |
| Total stockholders’ equity | 1,100,183 | 841,640 |
| Total liabilities, mezzanine equity and stockholders’ equity | $3,161,959 | $2,901,125 |
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