Amneal Pharmaceuticals Inc
For the period ended Dec 31, 2023. Filed Mar 14, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Mar 14, 2024
AMRX$21.38+0.5%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
Consolidated Statements of Cash Flows
| Years Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash flows from operating activities: | |||
| Net (loss) income | $(48,722) | $(254,789) | $20,170 |
| Adjustments to reconcile net (loss) income to net cash provided by operating activities: | |||
| Depreciation and amortization | 229,400 | 240,175 | 233,406 |
| Unrealized foreign currency (gain) loss | (768) | 15,190 | 175 |
| Amortization of debt issuance costs and discount | 8,182 | 8,595 | 9,203 |
| Loss on refinancing | 40,805 | 291 | — |
| Intangible asset impairment charges | 66,932 | 24,081 | 23,402 |
| Change in fair value of contingent consideration | (14,497) | 731 | 200 |
| Stock-based compensation | 26,822 | 31,847 | 28,412 |
| Inventory provision | 74,686 | 51,096 | 54,660 |
| Insurance recoveries for property and equipment losses | — | (1,000) | (5,000) |
| Non-cash property losses | — | — | 5,152 |
| Other operating charges and credits, net | 9,923 | 8,828 | 5,633 |
| Changes in assets and liabilities: | |||
| Trade accounts receivable, net | 126,289 | (79,717) | (23,621) |
| Inventories | (126,182) | (102,396) | (49,015) |
| Prepaid expenses, other current assets and other assets | 37,814 | 9,882 | (21,981) |
| Related party receivables | (490) | 646 | 7,311 |
| Accounts payable, accrued expenses and other liabilities | (94,446) | 109,568 | (43,932) |
| Related party payables | 9,829 | 2,072 | (2,355) |
| Net cash provided by operating activities | 345,577 | 65,100 | 241,820 |
| Cash flows from investing activities: | |||
| Purchases of property, plant and equipment | (43,216) | (46,407) | (47,728) |
| Acquisition of intangible assets | (22,388) | (41,800) | (1,700) |
| Deposits for future acquisition of property, plant, and equipment | (3,585) | (2,388) | (3,211) |
| Acquisitions of businesses, net of cash acquired | — | (84,714) | (146,543) |
| Proceeds from insurance recoveries for property and equipment losses | — | 1,000 | 5,000 |
| Net cash used in investing activities | (69,189) | (174,309) | (194,182) |
| Cash flows from financing activities: | |||
| Payments of deferred financing and refinancing costs | (162,415) | (1,663) | — |
| Payments of principal on debt, revolving credit facility, financing leases and other | (414,080) | (123,272) | (78,086) |
| Proceeds from issuance of debt | 217,732 | — | — |
| Borrowings on revolving credit facility | 219,000 | 85,000 | — |
| Proceeds from exercise of stock options | 451 | 662 | 853 |
| Employee payroll tax withholding on restricted stock unit vesting | (2,378) | (3,571) | (2,664) |
| Payments of deferred consideration for acquisitions - related party | — | (44,498) | — |
| Acquisition of redeemable non-controlling interests | — | (1,722) | — |
| Tax distributions to non-controlling interest | (70,883) | (17,556) | (57,132) |
| Payments of principal on financing lease - related party | — | — | (93) |
| Repayment of related party note | — | — | (1,000) |
| Net cash used in financing activities | (212,573) | (106,620) | (138,122) |
| Effect of foreign exchange rate on cash | 65 | (5,683) | 102 |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 63,880 | (221,512) | (90,382) |
| Cash, cash equivalents, and restricted cash - beginning of period | 35,227 | 256,739 | 347,121 |
| Cash, cash equivalents, and restricted cash - end of period | $99,107 | $35,227 | $256,739 |
| Cash and cash equivalents - end of period | $91,542 | $25,976 | $247,790 |
| Restricted cash - end of period | 7,565 | 9,251 | 8,949 |
| Cash, cash equivalents, and restricted cash - end of period | $99,107 | $35,227 | $256,739 |
Consolidated Statements of Cash Flows (continued)
| Years Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Supplemental disclosure of cash flow information: | |||
| Cash paid for interest | $192,806 | $142,722 | $121,747 |
| Cash paid, net for income taxes | $(2,496) | $(12,649) | $(15,558) |
| Supplemental disclosure of non-cash investing and financing activity: | |||
| Notes payable for acquisitions - related party | $— | $— | $14,162 |
| Deferred consideration for acquisition - related party | $— | $— | $30,099 |
| Contingent consideration for acquisition | $— | $8,796 | $— |
| Contingent consideration for acquisition - related party | $— | $— | $5,700 |
| Payable for acquisition of product rights and licenses | $2,100 | $— | $300 |
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