WillScot Holdings Corp
For the period ended Sep 30, 2024. Filed Oct 30, 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.
Sep 30, 2024 · Filed Oct 30, 2024
WSC$19.89-3.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows for the and
Condensed Consolidated Statements of Cash Flows
| Nine Months Ended September 30, | ||
|---|---|---|
| (in thousands) | 2024 | 2023 |
| Operating activities: | ||
| Net (loss) income | $(61,086) | $390,129 |
| Adjustments to reconcile net (loss) income to net cash provided by operating activities: | ||
| Depreciation and amortization | 285,894 | 242,927 |
| Provision for credit losses | 45,317 | 38,079 |
| Gain on sale of discontinued operations | — | (176,078) |
| Impairment loss on intangible asset | 132,540 | — |
| Gain on sale of rental equipment and other property, plant and equipment | (19,103) | (26,256) |
| Amortization of debt discounts and debt issuance costs | 9,192 | 8,281 |
| Stock-based compensation expense | 28,247 | 26,134 |
| Deferred income tax (benefit) expense | (47,789) | 118,455 |
| Loss on settlement of foreign currency forward contract | — | 7,715 |
| Unrealized currency gains, net | (157) | (943) |
| Other | 3,129 | 3,312 |
| Changes in operating assets and liabilities: | ||
| Trade receivables | (38,501) | (85,261) |
| Inventories | (5,398) | (600) |
| Prepaid expenses and other assets | (12,583) | (3,772) |
| Operating lease assets and liabilities | 1,073 | 707 |
| Accounts payable and other accrued expenses | 35,879 | (26,518) |
| Deferred revenue and customer deposits | 26,071 | 25,607 |
| Net cash provided by operating activities | 382,725 | 541,918 |
| Investing activities: | ||
| Acquisitions, net of cash acquired | (84,462) | (482,190) |
| Purchase of rental equipment and refurbishments | (206,989) | (166,097) |
| Proceeds from sale of rental equipment | 43,906 | 37,974 |
| Purchase of property, plant and equipment | (16,119) | (16,752) |
| Proceeds from sale of property, plant and equipment | 1,133 | 13,266 |
| Purchase of investments | (6,137) | — |
| Proceeds from sale of discontinued operations | — | 403,992 |
| Payment for settlement of foreign currency forward contract | — | (7,715) |
| Net cash used in investing activities | (268,668) | (217,522) |
| Financing activities: | ||
| Receipts from borrowings | 1,101,484 | 1,651,600 |
| Repayment of borrowings | (1,046,793) | (1,277,872) |
| Payment of financing costs | (6,932) | (6,377) |
| Payments on finance lease obligations | (14,815) | (12,549) |
| Receipts from issuance of Common Stock from the exercise of options | 121 | 453 |
| Repurchase and cancellation of Common Stock | (130,346) | (678,166) |
| Taxes paid on employee stock awards | (15,953) | (14,171) |
| Net cash used in financing activities | (113,234) | (337,082) |
| Effect of exchange rate changes on cash and cash equivalents | (735) | 701 |
| Net change in cash and cash equivalents | 88 | (11,985) |
| Cash and cash equivalents at the beginning of the period | 10,958 | 17,774 |
| Cash and cash equivalents at the end of the period | $11,046 | $5,789 |
| Supplemental cash flow information: | ||
| Interest paid, net | $141,702 | $135,301 |
| Income taxes paid, net | $42,693 | $22,764 |
| Capital expenditures accrued or payable | $13,326 | $15,615 |
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