ALBANY INTERNATIONAL CORP DE
For the period ended Mar 31, 2024. Filed Apr 29, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed Apr 29, 2024
AIN$68.92-1.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated statements of cash flows – months ended
Index
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
| Three Months EndedMarch 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net income | $27,369 | $27,086 |
| Adjustments to reconcile net income to net cash provided by/(used in) operating activities: | ||
| Depreciation | 20,556 | 15,864 |
| Amortization | 1,748 | 1,503 |
| Change in deferred taxes and other liabilities | (675) | (887) |
| Impairment of property, plant and equipment | 49 | 100 |
| Non-cash interest expense | 256 | 280 |
| Compensation and benefits paid or payable in Class A Common Stock | 810 | 378 |
| Provision for credit losses from uncollected receivables and contract assets | 365 | 309 |
| Foreign currency remeasurement (gain) on intercompany loans | (792) | (1,732) |
| Fair value adjustment on foreign currency options | 280 | 58 |
| Changes in operating assets and liabilities that provided/(used) cash: | ||
| Accounts receivable | (17,061) | (13,702) |
| Contract assets | 2,982 | (4,403) |
| Inventories | 1,917 | (12,360) |
| Prepaid expenses and other current assets | (6,525) | (2,191) |
| Income taxes prepaid and receivable | (721) | (693) |
| Accounts payable | 7,730 | 5,214 |
| Accrued liabilities | (22,739) | (23,137) |
| Income taxes payable | (5,466) | (10,996) |
| Noncurrent receivables | (178) | 867 |
| Other noncurrent liabilities | 506 | 7 |
| Other, net | (814) | 2,042 |
| Net cash provided by/(used in) operating activities | 9,597 | (16,393) |
| Cash flows from investing activities: | ||
| Purchases of property, plant and equipment | (26,859) | (16,275) |
| Purchased software | (21) | — |
| Net cash used in investing activities | (26,880) | (16,275) |
| Cash flows from financing activities: | ||
| Proceeds from borrowings | 43,237 | 58,000 |
| Principal payments on debt | (60,750) | (6,000) |
| Taxes paid in lieu of share issuance | (2,446) | (3,136) |
| Dividends paid | (8,110) | (7,778) |
| Net cash (used in)/provided by financing activities | (28,069) | 41,086 |
| Effect of exchange rate changes on cash and cash equivalents | (2,656) | 4,064 |
| (Decrease)/increase in cash and cash equivalents | (48,008) | 12,482 |
| Cash and cash equivalents at beginning of period | 173,420 | 291,776 |
| Cash and cash equivalents at end of period | $125,412 | $304,258 |
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