Sotera Health Co

For the period ended Dec 31, 2023. Filed Feb 27, 2024.

About 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.

FY2023 · Filed Feb 27, 2024

SHC$16.27-1.0%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

Consolidated Statements of Cash Flows

	Year Ended December 31,
	2023	2022	2021
Operating activities:
Net income (loss)	$51,376	$(233,570)	$117,121
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation	76,577	64,000	64,160
Amortization of intangible assets	81,348	81,554	86,742
Impairment of investment in unconsolidated affiliate	—	9,613	—
Loss on extinguishment of debt	—	—	20,681
Deferred income taxes	3,449	(73,960)	(3,716)
Share-based compensation expense	32,238	21,211	13,870
Accretion of asset retirement obligations	2,413	2,194	2,252
Unrealized foreign exchange loss (gain)	6,057	(3,984)	788
Unrealized loss (gain) on derivatives not designated as hedging instruments	(1,637)	2,977	(1,195)
Amortization of debt issuance costs	9,051	5,681	6,161
Other	(5,319)	(6,989)	(12,728)
Changes in operating assets and liabilities:
Accounts receivable	(21,724)	(12,555)	(15,509)
Inventories	(9,972)	14,441	(20,245)
Other current assets	4,003	(5,816)	(3,552)
Accounts payable	(5,333)	1,107	19,761
Accrued liabilities	3,500	20,595	1,596
Illinois EO litigation settlement	(407,712)	408,000	—
Georgia EO litigation settlement	35,000	—	—
Income taxes payable / receivable, net	924	(12,332)	10,103
Other liabilities	(1,733)	383	(369)
Other long-term assets	(238)	(4,589)	(4,376)
Net cash provided by (used in) operating activities	(147,732)	277,961	281,545
Investing activities:
Purchases of property, plant and equipment	(214,975)	(182,378)	(102,162)
Purchase of BioScience Laboratories, LLC, net of cash acquired	—	—	(13,530)
Purchase of mandatorily redeemable noncontrolling interest in Nelson Laboratories Fairfield, Inc.	—	—	(12,425)
Purchase of Regulatory Compliance Associates Inc., net of cash acquired	—	450	(31,015)
Other investing activities	69	32	(701)
Net cash used in investing activities	(214,906)	(181,896)	(159,833)
Financing activities:
Proceeds from revolving credit facility and long-term borrowings	500,000	200,000	—
Payment of revolving credit facility	(200,000)	—	—
Purchase of noncontrolling interests in China subsidiaries	—	—	(8,418)
Payments of debt issuance costs and prepayment premium	(25,645)	(31)	(6,792)
Payments of long-term borrowings	(2,500)	—	(100,000)
Shares withheld for employee taxes on equity awards	(4,089)	(393)	(1,434)
Other financing activities	(1,807)	(1,815)	(642)
Net cash provided by (used in) financing activities	265,959	197,761	(117,286)
Effect of exchange rate changes on cash and cash equivalents	2,039	(4,456)	44
Net increase (decrease) in cash and cash equivalents, including restricted cash	(94,640)	289,370	4,470
Cash and cash equivalents, including restricted cash, at beginning of period	396,294	106,924	102,454
Cash and cash equivalents, including restricted cash, at end of period	$301,654	$396,294	$106,924
Supplemental disclosures of cash flow information:
Cash paid during the period for interest	$173,842	$75,849	$58,772
Cash paid during the period for income taxes, net of tax refunds received	50,210	75,496	52,007
Purchases of property, plant and equipment included in accounts payable	16,720	16,413	14,524

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