Accel Entertainment Inc
For the period ended Dec 31, 2024. Filed Mar 3, 2025.
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FY2024 · Filed Mar 3, 2025
ACEL$13.85-0.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
| ACCEL ENTERTAINMENT, INC.CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
|---|---|---|---|
| (in thousands) | Year Ended December 31, | ||
| 2024 | 2023 | 2022 | |
| Cash flows from operating activities: | |||
| Net income | $35,291 | $45,603 | $74,102 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization of property and equipment | 43,978 | 37,906 | 29,295 |
| Amortization of intangible assets and route and customer acquisition costs | 22,577 | 21,211 | 17,484 |
| Impairment of intangible assets | 846 | — | — |
| Amortization of debt issuance costs | 1,788 | 1,808 | 2,110 |
| Stock-based compensation | 12,204 | 9,416 | 6,840 |
| Loss (gain) on change in fair value of contingent earnout shares | 1,276 | 8,539 | (19,544) |
| Gain on disposal of property and equipment | 606 | (10) | (608) |
| Loss on write-off of route and customer acquisition costs and route and customer acquisition costs payable | 1,148 | 935 | 757 |
| Remeasurement of contingent consideration | 6,486 | (522) | (3,524) |
| Payments on consideration payable | (2,804) | (4,795) | (3,570) |
| Accretion of interest on route and customer acquisition costs payable, contingent consideration, and contingent stock consideration | 1,640 | 1,480 | 2,460 |
| Deferred income taxes | (2,388) | 7,346 | 13,433 |
| Changes in operating assets and liabilities, net of acquisition of businesses: | |||
| Prepaid expenses and other current assets | (788) | (987) | (1,610) |
| Accounts receivable, net | 5,011 | (2,301) | (1,651) |
| Inventories | (343) | (734) | (500) |
| Route and customer acquisition costs | (7,522) | (3,448) | (4,347) |
| Route and customer acquisition costs payable | 2,451 | (441) | 358 |
| Accounts payable and accrued expenses | (1,239) | 15,466 | 1,791 |
| Accrued compensation and related expenses | (531) | 2,041 | 95 |
| Other assets | 1,507 | (5,983) | (5,372) |
| Net cash provided by operating activities | 121,194 | 132,530 | 107,999 |
| Cash flows from investing activities: | |||
| Purchases of property and equipment | (66,542) | (81,744) | (47,379) |
| Proceeds from the sale of property and equipment | 984 | 1,681 | 2,144 |
| Investment in equity interest | (5,000) | — | — |
| Proceeds from the settlement of convertible notes | — | 32,065 | — |
| Advances against a portion of the purchase price on pending business acquisition | — | (4,600) | — |
| Business and asset acquisitions, net of cash acquired | (53,592) | (7,195) | (144,028) |
| Net cash used in investing activities | (124,151) | (59,793) | (189,263) |
| Cash flows from financing activities: | |||
| Proceeds from debt | 175,000 | 169,000 | 240,000 |
| Payments on debt | (123,000) | (169,000) | (44,625) |
| Payments for debt issuance costs | — | (300) | — |
| Payments for repurchase of common shares | (25,495) | (30,072) | (79,002) |
| Payments on interest rate caplets | (985) | (965) | (873) |
| Proceeds from exercise of stock-based awards | 289 | 375 | 366 |
| Payments on consideration payable | (588) | (3,178) | (9,197) |
| Payments on finance lease obligation | (221) | (17) | — |
| Tax withholding on stock-based payments | (2,349) | (1,082) | (78) |
| Net cash provided by (used in) financing activities | $22,651 | $(35,239) | $106,591 |
| Net increase in cash and cash equivalents | 19,694 | 37,498 | 25,327 |
| Cash and cash equivalents: | |||
| Beginning of year | 261,611 | 224,113 | 198,786 |
| End of year | $281,305 | $261,611 | $224,113 |
| ACCEL ENTERTAINMENT, INC.CONSOLIDATED STATEMENTS OF CASH FLOWS - (Continued) | |||
|---|---|---|---|
| (in thousands) | Year Ended December 31, | ||
| 2024 | 2023 | 2022 | |
| Supplemental disclosures of cash flow information: | |||
| Cash payments for: | |||
| Interest, net | $32,767 | $30,248 | $19,942 |
| Income taxes | $22,306 | $11,741 | $7,662 |
| Supplemental schedules of noncash investing and financing activities: | |||
| Purchases of property and equipment in accounts payable and accrued liabilities | $13,446 | $14,923 | $9,763 |
| Deferred premium on interest rate caplets | $1,076 | $2,059 | $3,025 |
| Fair value of treasury stock issued in business combination | $40,472 | $— | $5,584 |
| Acquisition of businesses and assets: | |||
| Total identifiable net assets acquired | $110,472 | $7,195 | $185,415 |
| Less cash acquired | (5,872) | — | (33,270) |
| Less contingent consideration | (5,935) | — | (2,533) |
| Less fair value of treasury stock issued | (40,472) | — | (5,584) |
| Less advances on purchase price paid in prior period | (4,600) | — | — |
| Cash purchase price | $53,592 | $7,195 | $144,028 |
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