KLX Energy Services Holdings Inc
For the period ended Dec 31, 2023. Filed Mar 8, 2024.
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FY2023 · Filed Mar 8, 2024
KLXE$1.12+0.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows for the Years Ended
(In millions of U.S. dollars)
| Year Ended | ||
|---|---|---|
| December 31, 2023 | December 31, 2022 | |
| Cash flows from operating activities: | ||
| Net income (loss) | $19.2 | $(3.1) |
| Adjustments to reconcile net income (loss) to net cash flows from operating activities | ||
| Depreciation and amortization | 72.8 | 56.8 |
| Non-cash compensation | 3.0 | 3.0 |
| Amortization of deferred financing fees | 1.8 | 1.6 |
| Provision for inventory reserve | 0.5 | 2.8 |
| Gain on disposal of property, equipment and other | (10.0) | (13.2) |
| Bargain purchase gain | (1.9) | — |
| Other | (1.2) | (1.2) |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 44.0 | (51.0) |
| Inventories | (9.0) | (6.2) |
| Prepaid expenses and other current and non-current assets | 18.7 | 16.4 |
| Accounts payable | (4.2) | 11.7 |
| Other current and non-current liabilities | (18.1) | (1.9) |
| Net cash flows provided by operating activities | 115.6 | 15.7 |
| Cash flows from investing activities: | ||
| Purchases of property and equipment | (57.1) | (35.6) |
| Proceeds from sale of property and equipment | 16.3 | 16.9 |
| Cash from acquisition | 1.1 | — |
| Net cash flows used in investing activities | (39.7) | (18.7) |
| Cash flows from financing activities: | ||
| Borrowings on ABL Facility | — | 20.0 |
| Proceeds from stock issuance, net of costs | (0.4) | 24.8 |
| Payments on finance lease obligations | (14.6) | (9.7) |
| Payments of debt issuance costs | (0.5) | (1.7) |
| Change in financed payables | (4.6) | (2.1) |
| Other | (0.7) | 1.1 |
| Net cash flows (used in) provided by financing activities | (20.8) | 32.4 |
| Net change in cash and cash equivalents | 55.1 | 29.4 |
| Cash and cash equivalents, beginning of period | 57.4 | 28.0 |
| Cash and cash equivalents, end of period | $112.5 | $57.4 |
| Supplemental disclosures of cash flow information: | ||
| Cash paid during period for: | ||
| Income taxes paid, net of refunds | $0.6 | $0.6 |
| Interest | 35.0 | 33.7 |
| Supplemental schedule of non-cash activities: | ||
| Change in deposits on capital expenditures | $1.4 | $(0.2) |
| Change in accrued capital expenditures | 4.8 | 0.4 |
| Acquisition of Greene's Energy Group, LLC | (32.9) | — |
| Issuance of KLX stock for Acquisition of Greene's Energy Group, LLC | 34.0 | — |
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