Leonardo DRS Inc
For the period ended Dec 31, 2024. Filed Mar 3, 2025.
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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 Mar 3, 2025
DRS$36.53+0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| (Dollars in millions) | 2024 | 2023 | 2022 |
| Operating activities | |||
| Net earnings | $213 | $168 | $405 |
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||
| Depreciation and amortization | 91 | 85 | 65 |
| Deferred income taxes | 23 | (52) | (6) |
| Gain from sale of business | — | — | (354) |
| Share-based compensation expense | 22 | 17 | 5 |
| Other | 1 | 1 | — |
| Changes in assets and liabilities: | |||
| Accounts receivable | (102) | 15 | (1) |
| Contract assets | 36 | (36) | (134) |
| Inventories | (29) | (10) | (33) |
| Prepaid expenses | (6) | (1) | (1) |
| Other current assets | (13) | (18) | 3 |
| Other noncurrent assets | 17 | 19 | 24 |
| Defined benefit obligations | (2) | (8) | (4) |
| Accounts payable | 15 | (59) | (14) |
| Contract liabilities | 64 | 102 | 72 |
| Other current liabilities | (39) | (26) | 14 |
| Other noncurrent liabilities | (20) | 8 | (8) |
| Net cash provided by operating activities | 271 | 205 | 33 |
| Investing activities | |||
| Capital expenditures | (85) | (60) | (65) |
| Business acquisitions, net of cash acquired | — | — | 19 |
| Proceeds from sales of assets | 1 | 1 | — |
| Proceeds from sales of businesses | — | — | 482 |
| Net cash (used in) provided by investing activities | (84) | (59) | 436 |
| Financing activities | |||
| Net (decrease) increase in third party borrowings (maturities of 90 days or less) | (32) | 20 | (8) |
| Repayment of third party debt | (291) | (727) | — |
| Borrowings of third party debt | 280 | 715 | 223 |
| Repayment of related party debt | — | — | (992) |
| Borrowings from related parties | — | — | 775 |
| Dividend to US Holding | — | — | (396) |
| Dividend from investment | — | — | 3 |
| Proceeds from stock issuance | 16 | 12 | — |
| Cash outlay to reacquire equity instruments | (19) | (1) | — |
| Other | (10) | (4) | (8) |
| Net cash (used in) provided by financing activities | (56) | 15 | (403) |
| Effect of exchange rate changes on cash and cash equivalents | — | — | — |
| Net increase in cash and cash equivalents | 131 | 161 | 66 |
| Cash and cash equivalents at beginning of year | 467 | 306 | 240 |
| Cash and cash equivalents at end of year | $598 | $467 | $306 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.