TREDEGAR CORP
For the period ended Dec 31, 2025. Filed Mar 11, 2026.
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FY2025 · Filed Mar 11, 2026
TG$5.79-1.9%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Years Ended December 31 | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| (In thousands) | |||
| Cash flows from operating activities: | |||
| Net income (loss) | $33,476 | $(64,565) | $(105,905) |
| Adjustments for noncash items: | |||
| Depreciation | 19,971 | 23,681 | 25,786 |
| Amortization of identifiable intangibles | 1,758 | 1,856 | 1,897 |
| Goodwill impairment | — | 13,271 | 34,891 |
| Reduction of right-of-use lease asset | 2,115 | 2,259 | 2,220 |
| Deferred income taxes | 6,224 | (8,202) | (56,098) |
| Accrued pension and postretirement benefits | 161 | 217 | 10,844 |
| OPEB termination gain | (6,265) | — | — |
| Pension settlement loss | — | — | 92,291 |
| Stock-based compensation expense | 1,808 | 2,498 | 1,978 |
| Gain on investment in kaléo | — | (144) | (262) |
| (Gain) loss on sale of divested business | (9,657) | 74,877 | — |
| Production equipment asset impairment | 843 | — | — |
| Gain on the sale of assets | (1,497) | — | — |
| Impairment of Richmond, Virginia Technical Center assets | — | — | 3,454 |
| Changes in assets and liabilities: | |||
| Accounts and other receivables | (16,992) | (14,785) | 17,400 |
| Inventories | (13,563) | (6,911) | 47,607 |
| Income taxes recoverable/payable | 89 | 137 | (406) |
| Prepaid expenses and other | 2,068 | (7,174) | 1,204 |
| Accounts payable and accrued expenses | 13,568 | 10,009 | (25,165) |
| Lease liability | (2,422) | (2,749) | (2,299) |
| Pension and postretirement benefit plan contributions | (557) | (587) | (28,269) |
| Other, net | 1,849 | 1,820 | 2,827 |
| Net cash provided by (used in) operating activities | 32,977 | 25,508 | 23,995 |
| Cash flows from investing activities: | |||
| Capital expenditures | (17,241) | (14,347) | (26,446) |
| Proceeds from the sale of kaléo | — | 144 | 262 |
| Net proceeds on sale of divested business | 9,835 | 54,631 | — |
| Proceeds from the sale of assets | 1,904 | 83 | — |
| Net cash provided by (used in) investing activities | (5,502) | 40,511 | (26,184) |
| Cash flows from financing activities: | |||
| Borrowings | 123,390 | 615,201 | 116,134 |
| Debt principal payments | (150,273) | (679,590) | (107,713) |
| Dividends paid | — | — | (8,884) |
| Debt financing costs | (1,272) | (587) | (4,021) |
| Net cash provided by (used in) financing activities: | (28,155) | (64,976) | (4,484) |
| Effect of exchange rate changes on cash | 347 | (7,436) | 896 |
| Increase (decrease) in cash and cash equivalents | (333) | (6,393) | (5,777) |
| Cash and cash equivalents at beginning of period | 7,062 | 13,455 | 19,232 |
| Cash and cash equivalents at end of period | $6,729 | $7,062 | $13,455 |
| Supplemental cash flow information: | |||
| Interest payments | $3,901 | $13,524 | $10,499 |
| Income tax payments, net | $3,358 | $12,228 | $2,282 |
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