Garrett Motion Inc
For the period ended Sep 30, 2024. Filed Oct 24, 2024.
View on SEC.govAbout this filing
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 Oct 24, 2024
GTX$20.68-0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Interim Statements of Cash Flows (Unaudited)
CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| (Dollars in millions) | ||
| Cash flows from operating activities: | ||
| Net income | $182 | $209 |
| Adjustments to reconcile net income to net cash provided by operating activities | ||
| Deferred income taxes | 16 | 13 |
| Depreciation | 67 | 66 |
| Amortization of deferred issuance costs | 35 | 17 |
| Loss on remeasurement of forward purchase contract | — | 13 |
| Gain on sale of equity investment | (27) | — |
| Foreign exchange gain | (10) | — |
| Stock compensation expense | 17 | 12 |
| Pension expense | 1 | 1 |
| Unrealized loss on derivatives | 39 | 21 |
| Other | 2 | 7 |
| Changes in assets and liabilities: | ||
| Accounts, notes and other receivables | 110 | (76) |
| Inventories | (10) | (30) |
| Other assets | 2 | 2 |
| Accounts payable | (154) | 57 |
| Accrued liabilities | 8 | 26 |
| Other liabilities | (1) | (8) |
| Net cash provided by operating activities | $277 | $330 |
| Cash flows from investing activities: | ||
| Expenditures for property, plant and equipment | (69) | (57) |
| Proceeds from cross-currency swap contracts | 24 | 9 |
| Proceeds from sale of equity investment | 46 | $— |
| Net cash provided by (used for) investing activities | $1 | $(48) |
| Cash flows from financing activities: | ||
| Proceeds from issuance of long-term debt, net of debt financing costs | 794 | 667 |
| Payments of long-term debt | (991) | (205) |
| Repurchases of Series A Preferred Stock | — | (580) |
| Repurchases of Common Stock | (226) | (178) |
| Payments of Additional Amounts for conversion of Series A Preferred Stock | — | (25) |
| Payments for preference dividends | — | (42) |
| Payments for debt and revolving facility financing costs | (7) | (2) |
| Other | (9) | (1) |
| Net cash used for financing activities | $(439) | $(366) |
| Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash | (2) | (1) |
| Net decrease in cash, cash equivalents and restricted cash | (163) | (85) |
| Cash, cash equivalents and restricted cash at beginning of the period | 260 | 248 |
| Cash, cash equivalents and restricted cash at end of the period | $97 | $163 |
| Supplemental cash flow disclosure: | ||
| Income taxes paid (net of refunds) | $43 | $38 |
| Interest paid | 49 | 45 |
The Notes to the Consolidated Interim Financial Statements are an integral part of this statement
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.