AZZ INC
For the period ended Feb 29, 2024. Filed Apr 22, 2024.
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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 Apr 22, 2024
AZZ$130.81-1.5%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 | |||
|---|---|---|---|
| February 29, 2024 | February 28, 2023 | February 28, 2022 | |
| Cash flows from operating activities | |||
| Net income (loss) available to common shareholders | $87,207 | $(61,214) | $84,022 |
| Net (income) loss from discontinued operations | — | 119,313 | (34,205) |
| Plus: Dividends on preferred stock | 14,400 | 8,240 | — |
| Net income from continuing operations | 101,607 | 66,339 | 49,817 |
| Adjustments to reconcile net income from continuing operations to net cash provided by operating activities: | |||
| Depreciation and amortization | 79,423 | 74,590 | 32,081 |
| Deferred income taxes | 4,685 | 7,007 | 3,201 |
| Equity in earnings of unconsolidated entities | (15,407) | (2,597) | — |
| Distribution on investment in AVAIL joint venture | 3,113 | — | — |
| Net loss (gain) on sale of property, plant and equipment | 61 | (1,032) | 666 |
| Amortization of debt financing costs | 12,171 | 11,271 | 455 |
| Share-based compensation expense | 9,510 | 8,382 | 9,449 |
| Other non-cash items | (67) | 77 | 740 |
| Changes in current assets and current liabilities | 54,002 | (67,075) | (32,325) |
| Changes in other long-term assets and long-term liabilities | (4,630) | (5,532) | (3,486) |
| Net cash provided by operating activities of continuing operations | 244,468 | 91,430 | 60,598 |
| Cash flows from investing activities | |||
| Purchase of property, plant and equipment | (95,119) | (57,120) | (23,590) |
| Acquisition of subsidiaries, net of cash acquired | — | (1,282,730) | (61,219) |
| Proceeds from divestiture | — | 106,808 | — |
| Other investing activities | 55 | 4,121 | 2,666 |
| Net cash used in investing activities of continuing operations | (95,064) | (1,228,921) | (82,143) |
| Cash flows from financing activities | |||
| Proceeds from issuance of common stock | 2,364 | 2,372 | 2,788 |
| Payments for taxes related to net share settlement of equity awards | (1,711) | (3,000) | (2,187) |
| Proceeds from revolving loan | 249,000 | 380,000 | 296,000 |
| Payments on revolving loan | (314,000) | (362,000) | (248,000) |
| Proceeds from long term debt | — | 1,540,000 | — |
| Payments on long term debt and finance lease liabilities | (50,424) | (419,750) | — |
| Payments of debt financing costs | (1,699) | (87,548) | — |
| Repurchase and retirement of treasury stock | — | — | (30,815) |
| Payments of dividends | (31,418) | (22,739) | (16,874) |
| Net cash provided by (used in) financing activities of continuing operations | (147,888) | 1,027,335 | 912 |
| Effect of exchange rate changes on cash | 13 | 505 | 158 |
| Net cash provided by (used in) operating activities from discontinued operations | — | (21,275) | 25,412 |
| Net cash used in investing activities from discontinued operations | — | (1,336) | (4,692) |
| Net cash provided by financing activities from discontinued operations | — | 120,000 | — |
| Net cash provided by discontinued operations | — | 97,389 | 20,720 |
| Net increase (decrease) in cash and cash equivalents | 1,529 | (12,262) | 245 |
| Cash and cash equivalents at beginning of period | 2,820 | 15,082 | 14,837 |
| Cash and cash equivalents at end of period | $4,349 | $2,820 | $15,082 |
| Less: Cash and cash equivalents from discontinued operations at end of period | — | — | (3,000) |
| Cash and cash equivalents from continuing operations at end of period | $4,349 | $2,820 | $12,082 |
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