ALAMO GROUP INC
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
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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 Feb 27, 2025
ALG$139.73-0.9%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 thousands) | 2024 | 2023 | 2022 |
| Operating Activities | |||
| Net income | $115,930 | $136,161 | $101,928 |
| Adjustments to reconcile net income to cash provided by operating activities: | |||
| Provision for doubtful accounts | 1,718 | 253 | 424 |
| Depreciation - PP&E | 26,865 | 23,665 | 23,673 |
| Depreciation - Rental | 9,992 | 8,789 | 7,739 |
| Amortization of intangibles | 16,227 | 15,519 | 15,277 |
| Amortization of debt issuance | 703 | 703 | 667 |
| Stock-based compensation expense | 9,141 | 7,424 | 5,561 |
| Provision for deferred income tax benefit | (3,607) | (4,253) | (2,337) |
| Gain on sale of property, plant and equipment | (639) | (6,621) | (161) |
| Changes in operating assets and liabilities, net of acquisitions: | |||
| Accounts receivable | 47,012 | (35,293) | (85,055) |
| Inventories | 26,494 | (10,844) | (37,739) |
| Rental equipment | (23,830) | (13,930) | (9,196) |
| Prepaid expenses and other | (2,608) | (835) | (6,146) |
| Trade accounts payable and accrued liabilities | (15,673) | 4,813 | (2,879) |
| Income taxes payable | 1,000 | 6,705 | 2,934 |
| Long term tax payable | (2,007) | (1,147) | (635) |
| Other assets and liabilities, net | 3,060 | 45 | 475 |
| Net cash provided by operating activities | 209,778 | 131,154 | 14,530 |
| Investing Activities | |||
| Acquisitions, net of cash acquired | — | (27,560) | (2,000) |
| Purchase of property, plant and equipment | (24,993) | (37,745) | (31,141) |
| Proceeds from sale of property, plant and equipment | 3,045 | 12,682 | 1,566 |
| Purchase of patents | (233) | — | (163) |
| Net cash used in investing activities | (22,181) | (52,623) | (31,738) |
| Financing Activities | |||
| Borrowings on bank revolving credit facility | 195,000 | 183,000 | 222,000 |
| Repayment on bank revolving credit facility | (195,000) | (235,000) | (174,000) |
| Principal payments on long-term debt and capital leases | (15,069) | (14,948) | (15,031) |
| Contingent consideration payment after acquisition | (4,402) | — | — |
| Dividends paid | (12,442) | (10,485) | (8,549) |
| Proceeds from exercise of stock options | 1,912 | 1,586 | 803 |
| Common stock repurchased | (1,972) | (1,034) | (768) |
| Net cash (used in) provided by financing activities | (31,973) | (76,881) | 24,455 |
| Effect of exchange rate changes on cash | (10,269) | 3,253 | (2,346) |
| Net change in cash and cash equivalents | 145,355 | 4,903 | 4,901 |
| Cash and cash equivalents at beginning of the year | 51,919 | 47,016 | 42,115 |
| Cash and cash equivalents at end of the year | $197,274 | $51,919 | $47,016 |
| Cash paid during the year for: | |||
| Interest | $20,787 | $25,358 | $14,575 |
| Income taxes | $40,426 | $37,330 | $35,102 |
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