NCR Atleos Corp
For the period ended Dec 31, 2023. Filed Mar 26, 2024.
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FY2023 · Filed Mar 26, 2024
NATL$48.20+0.6%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
| For the years ended December 31 (in millions) | 2023 | 2022 | 2021 |
|---|---|---|---|
| Operating activities | |||
| Net income (loss) | $(132) | $107 | $187 |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
| Depreciation expense | 126 | 127 | 72 |
| Amortization expense | 128 | 132 | 87 |
| Stock-based compensation expense | 68 | 66 | 82 |
| Deferred income taxes | 74 | (28) | 19 |
| Loss on disposal of property, plant and equipment and other assets | 3 | — | — |
| Changes in assets and liabilities: | |||
| Receivables | (52) | (78) | 70 |
| Related party receivables and payables | (22) | (26) | 4 |
| Inventories | 53 | (10) | (136) |
| Settlement assets | (7) | (10) | (21) |
| Current payables and accrued expenses | 140 | (78) | 127 |
| Contract liabilities | — | 44 | 21 |
| Employee benefit plans | (170) | 62 | (88) |
| Other assets and liabilities | 146 | (34) | 25 |
| Net cash provided by operating activities | $355 | $274 | $449 |
| Investing activities | |||
| Expenditures for property, plant and equipment | $(108) | $(58) | $(80) |
| Additions to capitalized software | (24) | (39) | (31) |
| Business acquisitions, net of cash acquired | (1) | (78) | (2,346) |
| Amounts advanced for related party notes receivable | (217) | (274) | (40) |
| Repayments received from related party receivable | 44 | 32 | 4 |
| Purchases of investments | (10) | — | — |
| Net cash used in investing activities | $(316) | $(417) | $(2,493) |
| Financing activities | |||
| Proceeds from related party borrowings | $412 | $68 | $1,188 |
| Payments on related party borrowings | (314) | (604) | (7) |
| Proceeds from issuance of senior secured notes | 1,333 | — | — |
| Proceeds from borrowings on term credit facilities | 1,561 | — | — |
| Borrowings on revolving credit facilities | 330 | — | — |
| Payments on revolving credit facilities | (175) | — | — |
| Debt issuance costs | (51) | — | — |
| Principal payments for finance lease obligations | (1) | (2) | (3) |
| Net transfers from (to) NCR Corporation | (60) | 721 | 1,167 |
| Tax withholding payments on behalf of employees | (7) | — | — |
| Consideration paid to NCR Corporation in connection with the Separation | (2,996) | — | — |
| Other financing activities | (1) | — | — |
| Net cash provided by (used in) financing activities | $31 | $183 | $2,345 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 17 | (11) | (1) |
| Increase (decrease) in cash, cash equivalents and restricted cash | 87 | 29 | 300 |
| Cash, cash equivalents and restricted cash at beginning of period | 499 | 470 | 170 |
| Cash, cash equivalents and restricted cash at end of period | $586 | $499 | $470 |
| Supplemental data | |||
| Cash paid during the year for: | |||
| Income taxes | $69 | $32 | $42 |
| External interest | $36 | $— | $— |
| Related party interest | $36 | $55 | $17 |
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