Acushnet Holdings Corp
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
View on SEC.govAbout this filing
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 Feb 27, 2025
GOLF$85.03+0.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 8. Consolidated Statements of Cash Flows
| Year ended December 31, | |||
|---|---|---|---|
| (in thousands) | 2024 | 2023 | 2022 |
| Cash flows from operating activities | |||
| Net income | $201,842 | $198,607 | $205,084 |
| Adjustments to reconcile net income to cash flows provided by (used in) operating activities | |||
| Depreciation and amortization | 55,888 | 51,356 | 41,706 |
| Unrealized foreign exchange (gain) loss | (2,856) | 1,507 | 13,568 |
| Amortization of debt issuance costs | 1,754 | 927 | 2,000 |
| Share-based compensation | 30,792 | 29,709 | 24,083 |
| Loss (gain) on disposals of property, plant and equipment | 902 | 99 | (3,294) |
| Deferred income taxes | 915 | 15,413 | 9,060 |
| Changes in operating assets and liabilities | |||
| Accounts receivable | (26,799) | 13,785 | (58,893) |
| Inventories | 21,659 | 58,897 | (275,973) |
| Accounts payable | 1,875 | (12,105) | 8,840 |
| Accrued taxes | (8,222) | 6,221 | (11,427) |
| Other assets and liabilities | (32,642) | 7,411 | (22,541) |
| Cash flows provided by (used in) operating activities | 245,108 | 371,827 | (67,787) |
| Cash flows from investing activities | |||
| Additions to property, plant and equipment | (74,624) | (75,364) | (61,364) |
| Additions to intangible assets (Note 9) | — | (25,235) | (65,000) |
| Business acquisitions | — | — | (18,400) |
| Other, net | — | (887) | 4,542 |
| Cash flows used in investing activities | (74,624) | (101,486) | (140,222) |
| Cash flows from financing activities | |||
| Proceeds from short-term borrowings, net (Note 11) | — | — | 3,362 |
| Proceeds from credit facilities (Note 11) | 1,243,120 | 1,527,896 | 976,953 |
| Repayments of credit facilities (Note 11) | (1,178,799) | (1,739,308) | (414,104) |
| Proceeds from senior unsecured notes (Note 11) | — | 350,000 | — |
| Repayments of term loan facility (Note 11) | — | — | (315,000) |
| Purchases of common stock | (172,799) | (334,088) | (189,111) |
| Payment of debt issuance costs | — | (6,328) | (2,583) |
| Dividends paid on common stock | (54,291) | (52,480) | (52,239) |
| Dividends paid to noncontrolling interests | — | — | (1,601) |
| Payment of employee restricted stock tax withholdings | (16,914) | (11,495) | (10,661) |
| Other, net | — | 1,078 | (3,600) |
| Cash flows used in financing activities | (179,683) | (264,725) | (8,584) |
| Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash | (3,177) | 915 | (6,180) |
| Net (decrease) increase in cash, cash equivalents and restricted cash | (12,376) | 6,531 | (222,773) |
| Cash, cash equivalents and restricted cash, beginning of year | 65,435 | 58,904 | 281,677 |
| Cash, cash equivalents and restricted cash, end of year | $53,059 | $65,435 | $58,904 |
| Supplemental information | |||
| Cash paid for interest | $53,449 | $36,391 | $11,632 |
| Cash paid for income taxes | 49,436 | 33,619 | 56,413 |
| Supplemental non-cash information | |||
| Purchases of property, plant and equipment, accrued not paid | 2,327 | 2,145 | 4,308 |
| Additions to right-of-use assets obtained in exchange for operating lease obligations | 10,439 | 51,825 | 28,038 |
| Additions to right-of-use assets obtained in exchange for finance lease obligations | 434 | 944 | 525 |
| Dividend equivalents rights ("DERs") declared not paid | 1,989 | 1,971 | 1,742 |
| Contingent consideration (Note 8) | 342 | — | 1,400 |
| Additions to redeemable noncontrolling interests (Note 8) | — | — | 4,600 |
| Share repurchase liability (Note 16) | 62,500 | — | 92,583 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.