Varex Imaging Corp
For the period ended Dec 29, 2023. Filed Feb 6, 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.
Dec 29, 2023 · Filed Feb 6, 2024
VREX$18.450.0%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows
| Three Months Ended | ||
|---|---|---|
| (In millions) | December 29, 2023 | December 30, 2022 |
| Cash flows from operating activities: | ||
| Net (loss) income | $(0.4) | $3.2 |
| Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities: | ||
| Share-based compensation expense | 3.7 | 3.3 |
| Depreciation | 5.1 | 4.6 |
| Amortization of intangible assets | 3.6 | 3.4 |
| Deferred taxes | (0.8) | (0.2) |
| Income from equity method investments | (0.4) | (1.3) |
| Amortization of deferred loan costs | 0.7 | 0.6 |
| Gain on purchase of business | (2.1) | — |
| Inventory write-down | 0.9 | 2.0 |
| Other, net | (0.5) | — |
| Changes in assets and liabilities: | ||
| Accounts receivable | 25.3 | 15.6 |
| Inventories | (13.2) | (18.8) |
| Prepaid expenses and other assets | 2.2 | (0.4) |
| Accounts payable | 9.0 | 8.0 |
| Accrued liabilities and other current and long-term liabilities | (22.0) | (25.4) |
| Deferred revenues | (0.8) | 1.7 |
| Net cash provided by (used in) operating activities | 10.3 | (3.7) |
| Cash flows from investing activities: | ||
| Purchases of property, plant, and equipment | (10.4) | (5.5) |
| Loss on settlement of cash flow hedge | — | (0.3) |
| Proceeds from maturities of marketable debt securities | 14.2 | 4.0 |
| Purchase of marketable debt securities | (24.5) | (6.3) |
| Purchase of marketable equity securities | — | (2.7) |
| Settlement of net investment hedge | — | 7.0 |
| Acquisitions of businesses, net of cash acquired | 0.9 | — |
| Other, net | (0.1) | 0.1 |
| Net cash used in investing activities | (19.9) | (3.7) |
| Cash flows from financing activities: | ||
| Taxes related to net share settlement of equity awards | (1.0) | — |
| Repayments of borrowing under credit agreements | (0.4) | (0.5) |
| Other, net | (0.3) | 0.1 |
| Net cash used in financing activities | (1.7) | (0.4) |
| Net decrease in cash and cash equivalents and restricted cash | (11.3) | (7.8) |
| Cash and cash equivalents and restricted cash at beginning of period | 154.0 | 90.6 |
| Cash and cash equivalents and restricted cash at end of period | $142.7 | $82.8 |
| Supplemental cash flow information: | ||
| Cash paid for interest | $13.7 | $13.7 |
| Income taxes paid, net of (refunds) | 2.7 | 4.5 |
| Supplemental non-cash activities: | ||
| Purchases of property, plant, and equipment financed through accounts payable | $2.5 | $2.0 |
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