Orion S.A.
For the period ended Dec 31, 2025. Filed Feb 17, 2026.
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FY2025 · Filed Feb 17, 2026
OEC$4.18+3.2%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
| Years Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| (In millions) | |||
| Cash flows from operating activities: | |||
| Net income (loss) | $(70.1) | $44.2 | $103.5 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | |||
| Depreciation of property, plant and equipment and amortization of intangible assets and right of use assets | 131.9 | 125.3 | 113.0 |
| Impairment of property, plant and equipment and intangible assets | 80.8 | — | — |
| Amortization of debt issuance costs | 2.0 | 1.5 | 2.7 |
| Stock based compensation | 13.6 | 15.3 | 15.4 |
| Deferred tax (benefit) provision | (6.8) | (19.7) | 6.3 |
| Foreign currency transactions | (9.3) | (1.7) | 5.0 |
| Reclassification of actuarial gains from AOCI | — | — | (8.9) |
| Other operating non-cash items, net | 1.4 | 1.8 | 0.8 |
| Changes in operating assets and liabilities, net: | |||
| Trade receivables | 17.4 | 13.8 | 131.2 |
| Inventories | 36.5 | (19.6) | (7.7) |
| Trade payables | 15.3 | (14.8) | 1.6 |
| Other provisions | 8.0 | 1.4 | (4.4) |
| Income tax liabilities | 1.4 | (17.8) | (2.1) |
| Other assets and liabilities, net | (6.3) | (4.4) | (10.5) |
| Net cash provided by operating activities | 215.8 | 125.3 | 345.9 |
| Cash flows from investing activities: | |||
| Acquisition of property, plant and equipment | (161.0) | (206.7) | (172.8) |
| Net cash used in investing activities | (161.0) | (206.7) | (172.8) |
| Cash flows from financing activities: | |||
| Proceeds from long-term debt borrowings | — | — | 12.6 |
| Repayments of long-term debt | (8.9) | (4.1) | (3.0) |
| Payments for debt issue costs | (4.6) | (0.2) | (2.7) |
| Cash inflows related to current financial liabilities | 153.4 | 263.1 | 284.4 |
| Cash outflows related to current financial liabilities | (151.6) | (138.1) | (417.9) |
| Dividends paid to stockholders | (4.7) | (4.8) | (4.9) |
| Repurchases of Common stock | (24.8) | (26.6) | (65.6) |
| Net cash provided by (used in) financing activities | (41.2) | 89.3 | (197.1) |
| Increase (decrease) in cash, cash equivalents and restricted cash | 13.6 | 7.9 | (24.0) |
| Cash, cash equivalents and restricted cash at the beginning of the period | 44.7 | 40.2 | 63.4 |
| Effect of exchange rate changes on cash | 2.9 | (3.4) | 0.8 |
| Cash, cash equivalents and restricted cash at the end of the period | 61.2 | 44.7 | 40.2 |
| Less restricted cash at the end of the period | 0.5 | 0.5 | 2.7 |
| Cash and cash equivalents at the end of the period | $60.7 | $44.2 | $37.5 |
| Supplemental Cash flow information: | |||
| Cash paid for interest, net | $(54.3) | $(48.8) | $(38.9) |
| Cash paid for income taxes | $(41.2) | $(47.3) | $(56.1) |
| Non-cash activity: | |||
| Lease liabilities | $30.8 | $28.9 | $30.0 |
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