New Fortress Energy Inc
For the period ended Dec 31, 2024. Filed Mar 10, 2025.
View on SEC.govAbout this filing
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.
FY2024 · Filed Mar 10, 2025
NFE$3.58-10.9%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
Item 8. Consolidated Statements of Cash Flows
(in thousands of U.S. dollars)
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flows from operating activities | |||
| Net (loss) income | $(242,387) | $548,876 | $184,786 |
| Adjustments for: | |||
| Amortization of deferred financing costs and debt guarantee, net | 33,173 | 6,589 | 2,536 |
| Depreciation and amortization | 162,525 | 187,324 | 143,589 |
| (Earnings) losses of equity method investees | — | (9,972) | 472,219 |
| Current expected credit losses | 13,959 | 203 | 869 |
| Deferred taxes | 5,466 | 14,938 | (279,536) |
| Share-based compensation | 50,625 | 1,573 | 30,382 |
| Earnings recognized from vessels chartered to third parties transferred to Energos | (95,487) | (156,997) | (49,686) |
| Loss on the disposal of equity method investment | 7,222 | 37,401 | — |
| Loss (gain) on sale of assets, net | 77,562 | (29,378) | — |
| Loss on extinguishment of debt | 270,063 | — | 14,997 |
| Other | 153,338 | 34,819 | (60,243) |
| Changes in operating assets and liabilities, net of acquisitions: | |||
| Decrease (increase) in receivables | 64,726 | (41,019) | (139,938) |
| (Increase) in inventories | (2,751) | (39,790) | (7,933) |
| (Increase) decrease in other assets | (65,445) | 41,828 | (30,086) |
| Decrease in right-of-use assets | 164,136 | 83,537 | 63,593 |
| Increase in accounts payable/accrued liabilities | 187,792 | 78,065 | 67,741 |
| (Decrease) in lease liabilities | (160,604) | (74,576) | (63,493) |
| (Decrease) increase in other liabilities | (37,171) | 141,335 | 5,314 |
| Net cash provided by operating activities | 586,742 | 824,756 | 355,111 |
| Cash flows from investing activities | |||
| Capital expenditures | (2,621,234) | (3,029,834) | (1,174,008) |
| Proceeds from sale of net investment in lease | — | — | 593,000 |
| Sale of equity method investment | 136,365 | 100,000 | 500,076 |
| Asset sales | 328,999 | 16,464 | — |
| Sale of Miami Facility | 58,336 | — | — |
| Other investing activities | 22,887 | 9,227 | (1,794) |
| Net cash used in investing activities | (2,074,647) | (2,904,143) | (82,726) |
| Cash flows from financing activities | |||
| Proceeds from borrowings of debt | 5,865,299 | 3,005,387 | 2,032,020 |
| Payment of deferred financing costs | (146,722) | (37,806) | (17,598) |
| Repayment of debt | (3,801,034) | (686,508) | (1,520,813) |
| Issuance of Class A stock | 386,583 | — | — |
| Payment of dividends | (65,310) | (723,962) | (99,050) |
| Other financing activities | (14,248) | (28,161) | (72,602) |
| Net cash provided by financing activities | 2,224,568 | 1,528,950 | 321,957 |
| Impact of changes in foreign exchange rates on cash and cash equivalents | (81,900) | 6,168 | (3,289) |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 654,763 | (544,269) | 591,053 |
| Cash, cash equivalents and restricted cash – beginning of period | 310,814 | 855,083 | 264,030 |
| Cash, cash equivalents and restricted cash – end of period | $965,577 | $310,814 | $855,083 |
(in thousands of U.S. dollars)
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash paid for interest, net of capitalized interest | $105,784 | $100,304 | $160,618 |
| Cash paid for taxes | 27,932 | 52,897 | 151,210 |
| Year Ended December 31, | |||
| 2024 | 2023 | 2022 | |
| Supplemental disclosure of non-cash investing and financing activities: | |||
| Changes in accounts payable and accrued liabilities associated with construction in progress and property, plant and equipment additions | $(267,366) | $322,598 | $284,390 |
| Accounts payable and accrued liabilities associated with construction in progress and property, plant and equipment additions | 463,657 | 738,163 | 422,391 |
| Consideration received on asset sale | — | 27,704 | — |
| Principal payments on financing obligation paid to Energos by third party charters | (21,731) | (66,866) | (24,949) |
| Shares received in Hilli Exchange | — | (122,754) | — |
| Investment in Energos | — | 1,501 | 129,518 |
| Accrued dividend | 20,507 | — | 626,310 |
| Preferred shares issued and debt assumed in PortoCem acquisition | (125,198) | — | — |
| Fair value of contingent payments in the Lins acquisition | 8,080 | — | — |
| Deemed dividend related to Series B preferred stock | (17,605) | — | — |
| Non-cash financing costs | 181,928 | — | 46,371 |
The following table identifies the balance sheet line-items included in Cash and cash equivalents, Current restricted cash, and Non-current restricted cash presented in Other non-current assets, net on the Consolidated Balance Sheets (Note 17) presented in the Consolidated Statement of Cash Flows:
| Year Ended December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash and cash equivalents | 492,881 | 155,414 |
| Current restricted cash | 472,696 | 155,400 |
| Cash, cash equivalents and restricted cash – end of period | $965,577 | $310,814 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.