Varex Imaging Corp
For the period ended Jul 3, 2026. Filed Aug 10, 2026.
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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.
Jul 3, 2026 · Filed Aug 10, 2026
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) | July 3, 2026 | July 4, 2025 |
| Cash flows from operating activities: | ||
| Net income (loss) | $10.3 | $(82.1) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
| Share-based compensation expense | 11.6 | 11.6 |
| Depreciation | 17.3 | 17.6 |
| Amortization of intangible assets | 3.3 | 2.9 |
| Deferred taxes | 0.1 | (3.2) |
| Loss from equity method investments | 4.3 | 2.5 |
| Amortization of deferred loan costs | 1.1 | 2.3 |
| Impairment of goodwill | — | 93.9 |
| Inventory write-down | 4.3 | 3.0 |
| Loss on debt extinguishment | 9.4 | 0.1 |
| Other, net | 2.6 | 0.1 |
| Changes in assets and liabilities: | ||
| Accounts receivable | 11.0 | 20.2 |
| Inventories, net | (53.4) | (37.6) |
| Prepaid expenses and other assets | (7.3) | (5.3) |
| Accounts payable | 12.9 | 11.6 |
| Accrued liabilities and other current and long-term liabilities | (20.7) | (11.4) |
| Deferred revenues | (3.4) | 7.6 |
| Net cash provided by operating activities | 3.4 | 33.8 |
| Cash flows from investing activities: | ||
| Purchases of property, plant, and equipment | (25.9) | (17.3) |
| Proceeds from sales of marketable debt securities | 2.0 | 10.5 |
| Proceeds from maturities of marketable debt securities | 8.1 | 45.3 |
| Purchase of marketable debt securities | — | (30.6) |
| Proceeds from maturities of certificates of deposit | — | 3.4 |
| Settlement of net investment hedge | — | (0.8) |
| Other, net | (1.3) | 0.5 |
| Net cash (used in) provided by investing activities | (17.1) | 11.0 |
| Cash flows from financing activities: | ||
| Proceeds from issuance of term loans | 345.5 | — |
| Taxes related to net share settlement of equity awards | (1.5) | (1.9) |
| Proceeds from issuance of senior secured notes | — | 126.9 |
| Debt extinguishment costs | (7.2) | — |
| Repayments of borrowings | (377.8) | (201.5) |
| Proceeds from revolver borrowings | 26.2 | — |
| Repayments of revolver borrowings | (17.5) | — |
| Payment of debt issuance costs | (0.7) | (1.2) |
| Proceeds from shares issued under employee stock purchase plan | 1.7 | 1.7 |
| Other, net | (0.8) | (1.0) |
| Net cash used in financing activities | (32.1) | (77.0) |
| Effects of exchange rate changes on cash and cash equivalents and restricted cash | (0.2) | 0.3 |
| Net decrease in cash and cash equivalents and restricted cash | (46.0) | (31.9) |
| Cash and cash equivalents and restricted cash at beginning of period | 147.1 | 170.4 |
| Cash and cash equivalents and restricted cash at end of period | $101.1 | $138.5 |
| Supplemental cash flow information: | ||
| Cash paid for interest | $33.0 | $30.6 |
| Income taxes paid, net of refunds | 11.2 | 17.1 |
| Supplemental non-cash activities: | ||
| Purchases of property, plant, and equipment financed through accounts payable | $6.2 | $0.7 |
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