PHINIA INC
For the period ended Dec 31, 2024. Filed Feb 13, 2025.
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FY2024 · Filed Feb 13, 2025
PHIN$71.07+1.1%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
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| (in millions) | 2024 | 2023 | 2022 |
| OPERATING | |||
| Net cash provided by operating activities (see Note 23) | $308 | $250 | $303 |
| INVESTING | |||
| Capital expenditures, including tooling outlays | (105) | (150) | (107) |
| Insurance proceeds received for damage to property, plant and equipment | 3 | — | — |
| Payments for investment in equity securities | (1) | (2) | — |
| Proceeds from asset disposals and other, net | 2 | 2 | 2 |
| Net cash used in investing activities | (101) | (150) | (105) |
| FINANCING | |||
| Proceeds from issuance of long-term debt, net of discount | 975 | 708 | — |
| Payments for debt issuance costs | (15) | (14) | — |
| (Repayments) borrowings under Revolving Facility | (75) | 75 | — |
| Repayments of debt, including current portion | (722) | (4) | (1) |
| Cash outflows related to debt due to Former Parent | — | (728) | (117) |
| Cash inflows related to debt due from Former Parent | — | 36 | 140 |
| Purchase of noncontrolling interest | — | — | (3) |
| Dividends paid to PHINIA Inc. stockholders | (44) | (23) | — |
| Payments for purchase of treasury stock, including excise tax | (212) | (24) | — |
| Net transfers to Former Parent | — | (5) | (204) |
| Payments for stock-based compensation items | (3) | (1) | — |
| Net cash (used in) provided by financing activities | (96) | 20 | (185) |
| Effect of exchange rate changes on cash | 8 | (6) | (21) |
| Net increase (decrease) in cash and cash equivalents | 119 | 114 | (8) |
| Cash and cash equivalents at beginning of year | 365 | 251 | 259 |
| Cash and cash equivalents at end of year | $484 | $365 | $251 |
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