Lineage Inc
For the period ended Dec 31, 2024. Filed Feb 26, 2025.
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FY2024 · Filed Feb 26, 2025
LINE$34.88-12.1%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
| Year Ended December 31, | |||
|---|---|---|---|
| (in millions) | 2024 | 2023 | 2022 |
| Cash flows from operating activities: | |||
| Net income (loss) | $(751) | $(96) | $(76) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
| Provision for credit losses | 5 | 6 | 5 |
| Impairment of long-lived and intangible assets | 98 | 9 | 1 |
| Gain on insurance recovery (see Note 20, Commitments and contingencies) | (76) | — | — |
| Loss on sale of a subsidiary (see Note 4, Business combinations, asset acquisitions, and divestitures) | — | 21 | — |
| Depreciation and amortization | 876 | 760 | 678 |
| (Gain) loss on extinguishment of debt, net | 17 | — | (2) |
| Amortization of deferred financing costs and above/below market debt | 19 | 21 | 17 |
| Stock-based compensation | 215 | 26 | 17 |
| (Gain) loss on foreign currency transactions, net | 25 | (4) | 24 |
| Deferred income tax | (105) | (58) | (42) |
| Vesting of Class D interests (see Note 2, Capital structure and noncontrolling interests) | 185 | — | — |
| One-time Internalization expense to Bay Grove (see Note 2, Capital structure and noncontrolling interests) | 200 | — | — |
| Put Options fair value adjustment | 31 | — | — |
| Other operating activities | 19 | 9 | 4 |
| Changes in operating assets and liabilities (excluding effects of acquisitions): | |||
| Accounts receivable | 64 | 43 | (156) |
| Prepaid expenses, other assets, and other long-term liabilities | (29) | (12) | (53) |
| Inventories | (18) | 8 | (13) |
| Accounts payable and accrued liabilities and deferred revenue | (85) | 51 | 84 |
| Right-of-use assets and lease obligations | 13 | 12 | 13 |
| Net cash provided by operating activities | 703 | 796 | 501 |
| Cash flows from investing activities: | |||
| Acquisitions, net of cash acquired | (346) | (283) | (1,640) |
| Deposits on pending acquisitions and related refunds, net | 3 | — | 93 |
| Purchase of property, plant, and equipment | (691) | (766) | (813) |
| Proceeds from sale of assets | 7 | 19 | 4 |
| Proceeds from insurance recovery on impaired long-lived assets | 105 | — | — |
| Investments in Emergent Cold LatAm Holdings, LLC | (20) | (31) | (12) |
| Proceeds from repayment of notes by related parties | 15 | — | — |
| Other investing activity | 8 | (5) | (1) |
| Net cash used in investing activities | (919) | (1,066) | (2,369) |
| Cash flows from financing activities: | |||
| Capital contributions, net of equity raise costs | — | 142 | 942 |
| Issuance of common stock in IPO, net of equity raise costs | 4,879 | (6) | — |
| Dividends and other distributions | (234) | (46) | (180) |
| Redemption of redeemable noncontrolling interests | (6) | — | (56) |
| Repurchase of common shares for employee income taxes on stock-based compensation | (46) | — | — |
| Repurchase of common stock pursuant to Put Option exercise | (17) | — | — |
| Financing fees | (45) | — | (9) |
| Proceeds from long-term debt | 2,481 | — | 946 |
| Repayments of long-term debt and finance leases | (7,112) | (96) | (103) |
| Payment of deferred and contingent consideration liabilities | (46) | (36) | (8) |
| Borrowings on revolving line of credit | 4,112 | 1,431 | 2,465 |
| Repayments on revolving line of credit | (3,512) | (1,216) | (2,152) |
| Redemption of units issued as stock compensation | (2) | (12) | (8) |
| Redemption of common stock | (25) | (12) | — |
| Redemption of OPEUs | (75) | — | — |
| Settlement of Put Option liability | (27) | — | — |
| Other financing activity | (5) | (13) | 3 |
| Net cash provided by financing activities | 320 | 136 | 1,840 |
| Impact of foreign exchange rates on cash, cash equivalents, and restricted cash | — | 3 | (10) |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 104 | (131) | (38) |
| Cash, cash equivalents, and restricted cash at the beginning of the period | 71 | 202 | 240 |
| Cash, cash equivalents, and restricted cash at the end of the period | $175 | $71 | $202 |
(in millions)
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Supplemental disclosures of cash flow information: | |||
| Cash paid for taxes | $36 | $31 | $74 |
| Cash paid for interest | $523 | $594 | $354 |
| Noncash activities: | |||
| Purchases of property, plant, and equipment in Accounts payable and accrued liabilities | $118 | $104 | $100 |
| Issuance of Put Option liability | $103 | $— | $— |
| Accrued dividends, distributions, and dividend equivalents | $135 | $109 | $11 |
| Debt assumed on acquisitions | $14 | $3 | $35 |
| Equity issued on acquisitions | $— | $6 | $96 |
| Net deferred and contingent consideration on acquisitions | $12 | $11 | $30 |
| Equity issued in exchange for redeemable noncontrolling interests | $— | $— | $10 |
| Redemptions of stock-based compensation not yet paid in cash | $— | $— | $7 |
| Noncash capital contributions | $— | $(3) | $(7) |
| Noncash common stock issuances | $1 | $— | $— |
| Equity raise costs | $6 | $— | $— |
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