Mirion Technologies Inc
For the period ended Dec 31, 2023. Filed Feb 28, 2024.
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FY2023 · Filed Feb 28, 2024
MIR$19.26-1.1%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
(In millions)
| Successor · Predecessor | |||||
|---|---|---|---|---|---|
| Fiscal Year Ended December 31, 2023 | Fiscal Year Ended December 31, 2022 | From October 20, 2021 through December 31, 2021 | From July 1, 2021 through October 19, 2021 | Fiscal Year Ended June 30, 2021 | |
| OPERATING ACTIVITIES: | |||||
| Net loss | $(98.7) | $(288.4) | $(23.0) | $(105.7) | $(158.4) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | |||||
| Accrual of in-kind interest on notes payable to related parties | — | — | — | 40.2 | 121.2 |
| Depreciation and amortization expense | 162.8 | 174.5 | 37.3 | 25.9 | 83.6 |
| Stock-based compensation expense | 21.9 | 31.8 | 5.3 | 9.3 | — |
| Loss on debt extinguishment | 2.6 | — | — | 15.9 | — |
| Amortization of debt issuance costs | 3.1 | 3.5 | 0.7 | 1.1 | 3.2 |
| Provision for doubtful accounts | 1.8 | 0.3 | (0.8) | 0.3 | 2.1 |
| Inventory obsolescence write down | 2.3 | 0.9 | 0.3 | — | 0.7 |
| Change in deferred income taxes | (30.9) | (37.2) | (11.2) | (8.4) | (16.6) |
| Loss (gain) on disposal of property, plant and equipment | 0.6 | 3.4 | 0.8 | 1.6 | (0.1) |
| (Gain) loss on foreign currency transactions | (0.3) | 4.9 | 1.6 | (0.6) | 13.4 |
| Increase (decrease) in fair values of warrant liabilities | 24.8 | (37.6) | (1.2) | — | — |
| Amortization of deferred revenue step-down | — | — | 2.3 | 4.5 | 8.0 |
| Amortization of inventory step-up | — | 6.3 | 15.8 | — | 5.2 |
| Goodwill impairment | — | 211.8 | — | — | — |
| Loss on disposal of business | 6.5 | — | — | — | — |
| Other | (0.6) | 3.6 | (0.1) | — | 1.4 |
| Changes in operating assets and liabilities: | |||||
| Accounts receivable | (5.0) | (14.8) | (42.5) | 18.2 | (4.2) |
| Costs in excess of billings on uncompleted contracts | 1.9 | (4.5) | 6.3 | (5.7) | (3.8) |
| Inventories | (0.5) | (34.8) | 5.1 | (10.2) | (4.2) |
| Deferred cost of revenue | 0.7 | (0.8) | (0.3) | (0.4) | 6.6 |
| Prepaid expenses and other current assets | (14.0) | (2.4) | (2.5) | 2.6 | (10.1) |
| Accounts payable | (9.9) | 4.5 | (8.9) | 19.2 | 2.6 |
| Accrued expenses and other current liabilities | 2.6 | 5.5 | (8.4) | 0.4 | (2.2) |
| Deferred contract revenue | 23.9 | 6.9 | 10.6 | 4.5 | (2.8) |
| Other assets | 0.3 | 5.4 | (6.1) | (2.2) | 0.5 |
| Other liabilities | (0.7) | (3.4) | 6.7 | 2.6 | 7.5 |
| Net cash provided by (used in) operating activities | 95.2 | 39.4 | (12.2) | 13.1 | 53.6 |
| INVESTING ACTIVITIES: | |||||
| Acquisition of Mirion, net of cash and cash equivalents acquired | — | — | (2,124.8) | — | — |
| Acquisitions of businesses, net of cash and cash equivalents acquired | (31.4) | (6.6) | (58.6) | (0.9) | (290.1) |
| Purchases of property, plant, and equipment and badges | (37.1) | (34.2) | (6.0) | (11.6) | (23.2) |
| Sales of property, plant, and equipment | — | 0.8 | — | — | — |
| Proceeds from net investment hedge derivative contracts | 3.8 | 0.5 | — | — | — |
| Proceeds from business disposal | 1.0 | — | — | — | — |
| Other investing | (1.0) | — | — | — | — |
| Net cash used in investing activities | (64.7) | (39.5) | (2,189.4) | (12.5) | (313.3) |
| FINANCING ACTIVITIES: | |||||
| Issuances of common stock | 150.0 | — | 900.0 | — | — |
| Common stock issuance costs | (0.3) | — | (13.3) | — | — |
| Stock repurchased to satisfy tax withholding for vesting restricted stock units | (1.0) | — | — | — | — |
| Transaction fees reimbursed by Sellers | — | — | 18.7 | — | — |
| Payment of deferred underwriting costs | — | — | (26.3) | — | — |
| SPAC share redemption | — | — | (146.3) | — | — |
| Borrowings from third-parties, net of discount and issuance costs | — | — | 807.3 | 1.9 | 218.8 |
| Principal repayments | (127.3) | (6.6) | (1.7) | (2.4) | (14.8) |
| Deferred financing costs | — | — | (0.9) | — | — |
| Borrowings from notes payable – related parties | — | — | — | — | 70.0 |
| Payment on revolving term loan | — | — | — | — | (35.0) |
| Proceeds from net cash flow hedge derivative contracts | 0.6 | — | — | — | — |
| Other financing | 0.6 | (0.4) | 0.2 | 1.5 | — |
| Net cash provided by (used in) financing activities | 22.6 | (7.0) | 1,537.7 | 1.0 | 239.0 |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | 2.4 | (3.2) | (1.0) | (0.9) | 3.1 |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 55.5 | (10.3) | (664.9) | 0.7 | (17.6) |
| Cash, cash equivalents, and restricted cash at beginning of period | 75.0 | 85.3 | 750.2 | 102.4 | 120.0 |
| Cash, cash equivalents, and restricted cash at end of period | $130.5 | $75.0 | $85.3 | $103.1 | $102.4 |
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