Acushnet Holdings Corp
For the period ended Sep 30, 2024. Filed Nov 7, 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 Nov 7, 2024
GOLF$85.03+0.5%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 (unaudited)
| Nine months ended September 30, | ||
|---|---|---|
| (in thousands) | 2024 | 2023 |
| Cash flows from operating activities | ||
| Net income | $209,998 | $225,029 |
| Adjustments to reconcile net income to cash flows provided by operating activities | ||
| Depreciation and amortization | 41,716 | 38,181 |
| Unrealized foreign exchange loss (gain) | 159 | (2,495) |
| Amortization of debt issuance costs | 1,307 | 501 |
| Share-based compensation | 23,998 | 21,369 |
| Loss (gain) on disposals of property, plant and equipment | 760 | (19) |
| Deferred income taxes | 8,953 | 25,015 |
| Changes in operating assets and liabilities | ||
| Accounts receivable | (165,730) | (125,667) |
| Inventories | 116,687 | 136,828 |
| Accounts payable | 9,453 | (30,030) |
| Accrued taxes | 4,582 | 5,798 |
| Other assets and liabilities | (5,655) | 2,420 |
| Cash flows provided by operating activities | 246,228 | 296,930 |
| Cash flows from investing activities | ||
| Additions to property, plant and equipment | (42,522) | (42,432) |
| Additions to intangible assets (Note 17) | — | (25,235) |
| Other, net | — | (887) |
| Cash flows used in investing activities | (42,522) | (68,554) |
| Cash flows from financing activities | ||
| Repayments of short-term borrowings, net (Note 5) | — | (3,121) |
| Proceeds from credit facilities (Note 5) | 951,480 | 1,039,443 |
| Repayments of credit facilities (Note 5) | (922,666) | (1,010,387) |
| Purchases of common stock | (142,343) | (204,656) |
| Dividends paid on common stock | (41,282) | (40,099) |
| Payment of employee restricted stock tax withholdings | (16,864) | (11,460) |
| Other, net | — | 1,078 |
| Cash flows used in financing activities | (171,675) | (229,202) |
| Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash | 1,596 | (1,312) |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 33,627 | (2,138) |
| Cash, cash equivalents and restricted cash, beginning of year | 65,435 | 58,904 |
| Cash, cash equivalents and restricted cash, end of period | $99,062 | $56,766 |
| Supplemental non-cash information | ||
| Purchases of property, plant and equipment, accrued not paid | $6,999 | $6,007 |
| Additions to right-of-use assets obtained in exchange for operating lease obligations | 7,651 | 50,813 |
| Additions to right-of-use assets obtained in exchange for finance lease obligations | 434 | 711 |
| Dividend equivalents rights ("DERs") declared not paid | 1,521 | 1,411 |
| Share repurchase liability (Note 10) | 32,523 | 79,765 |
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