nVent Electric plc
For the period ended Sep 30, 2024. Filed Nov 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.
Sep 30, 2024 · Filed Nov 1, 2024
NVT$112.48-1.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
Condensed Consolidated Statements of Cash Flows (Unaudited)
| Nine months ended | ||
|---|---|---|
| In millions | September 30,2024 | September 30,2023 |
| Operating activities | ||
| Net income | $321.1 | $312.2 |
| Less: Income from discontinued operations, net of tax | 63.8 | 64.9 |
| Net income from continuing operations | 257.3 | 247.3 |
| Adjustments to reconcile net income from continuing operations to net cash provided by (used for) operating activities of continuing operations | ||
| Depreciation | 37.8 | 30.2 |
| Amortization | 66.7 | 49.2 |
| Deferred income taxes | 0.3 | (4.6) |
| Share-based compensation | 20.1 | 16.3 |
| Gain on sale of investment | — | (10.2) |
| Amortization of bridge financing debt issuance costs | 2.2 | 3.6 |
| Changes in assets and liabilities, net of effects of business acquisitions | ||
| Accounts and notes receivable | (10.3) | (57.4) |
| Inventories | 0.3 | 8.5 |
| Other current assets | (28.1) | (22.3) |
| Accounts payable | (11.7) | (10.8) |
| Employee compensation and benefits | (13.1) | 2.0 |
| Other current liabilities | 2.6 | (18.4) |
| Other non-current assets and liabilities | — | (0.9) |
| Net cash provided by (used for) operating activities of continuing operations | 324.1 | 232.5 |
| Net cash provided by (used for) operating activities of discontinued operations | 94.4 | 59.1 |
| Net cash provided by (used for) operating activities | 418.5 | 291.6 |
| Investing activities | ||
| Capital expenditures | (47.5) | (44.8) |
| Proceeds from sale of property and equipment | 0.5 | — |
| Proceeds from sale of investment | — | 14.1 |
| Settlement of net investment hedge | — | 3.1 |
| Acquisitions, net of cash acquired | (677.7) | (1,119.7) |
| Net cash provided by (used for) investing activities of continuing operations | (724.7) | (1,147.3) |
| Net cash provided by (used for) investing activities of discontinued operations | (5.6) | 3.2 |
| Net cash provided by (used for) investing activities | (730.3) | (1,144.1) |
| Financing activities | ||
| Proceeds from long-term debt | 500.0 | 800.0 |
| Repayments of long-term debt | (22.5) | (20.0) |
| Settlement of cash flow hedge | — | 4.5 |
| Debt issuance costs | (3.9) | (11.2) |
| Dividends paid | (95.3) | (87.6) |
| Shares issued to employees, net of shares withheld | (0.2) | 1.6 |
| Repurchases of ordinary shares | (100.0) | (15.2) |
| Net cash provided by (used for) financing activities | 278.1 | 672.1 |
| Effect of exchange rate changes on cash and cash equivalents | (4.0) | (3.8) |
| Change in cash and cash equivalents | (37.7) | (184.2) |
| Cash and cash equivalents, beginning of period | 179.6 | 290.0 |
| Cash and cash equivalents within assets held for sale, beginning of period | 5.5 | 7.5 |
| Less: Cash and cash equivalents within assets held for sale, end of period | 10.3 | 5.4 |
| Cash and cash equivalents, end of period | $137.1 | $107.9 |
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