Varex Imaging Corp
For the period ended Jun 28, 2024. Filed Aug 1, 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.
Jun 28, 2024 · Filed Aug 1, 2024
VREX$18.450.0%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows
| Nine Months Ended | ||
|---|---|---|
| (In millions) | June 28, 2024 | June 30, 2023 |
| Cash flows from operating activities: | ||
| Net income | $2.7 | $16.7 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Share-based compensation expense | 11.8 | 10.1 |
| Depreciation | 15.6 | 14.2 |
| Amortization of intangible assets | 8.9 | 10.2 |
| Deferred taxes | (14.3) | (1.1) |
| Loss from equity method investments | 0.8 | 0.1 |
| Amortization of deferred loan costs | 2.1 | 1.9 |
| Gain on purchase of business | (2.1) | — |
| Inventory write-down | 3.4 | 3.8 |
| Other, net | 2.0 | 2.2 |
| Changes in assets and liabilities: | ||
| Accounts receivable | 12.4 | 10.2 |
| Inventories | (8.0) | 1.7 |
| Prepaid expenses and other assets | 0.5 | 4.0 |
| Accounts payable | 6.9 | (3.7) |
| Accrued liabilities and other current and long-term liabilities | (19.2) | (12.5) |
| Deferred revenues | (2.1) | 3.5 |
| Net cash provided by operating activities | 21.4 | 61.3 |
| Cash flows from investing activities: | ||
| Purchases of property, plant, and equipment | (20.9) | (15.3) |
| Loss on settlement of cash flow hedge | — | (0.2) |
| Proceeds from maturities of marketable debt securities | 45.2 | 16.7 |
| Purchase of marketable debt securities | (37.1) | (33.6) |
| Purchase of marketable equity securities | (0.2) | (2.7) |
| Settlement of net investment hedge | — | 7.0 |
| Acquisitions of businesses, net of cash acquired | 0.9 | — |
| Other, net | (1.4) | (2.2) |
| Net cash used in investing activities | (13.5) | (30.3) |
| Cash flows from financing activities: | ||
| Taxes related to net share settlement of equity awards | (1.9) | (1.4) |
| Repayments of borrowing under credit agreements | (1.2) | (1.7) |
| Payment of debt issuance costs | (2.2) | — |
| Proceeds from shares issued under employee stock purchase plan | 2.0 | 2.0 |
| Other, net | (0.8) | (0.5) |
| Net cash used in financing activities | (4.1) | (1.6) |
| Effects of exchange rate changes on cash and cash equivalents and restricted cash | — | (0.1) |
| Net increase in cash and cash equivalents and restricted cash | 3.8 | 29.3 |
| 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 | $157.8 | $119.9 |
| Supplemental cash flow information: | ||
| Cash paid for interest | $27.6 | $27.4 |
| Income taxes paid, net of refunds | 16.7 | 9.8 |
| Supplemental non-cash activities: | ||
| Purchases of property, plant, and equipment financed through accounts payable | $1.4 | $1.3 |
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