ARKO Corp
For the period ended Dec 31, 2024. Filed Feb 26, 2025.
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FY2024 · Filed Feb 26, 2025
ARKO$4.24+1.0%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 Statem ents of Cash Flows
| For the Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flows from operating activities: | |||
| Net income | $20,845 | $34,566 | $71,978 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 132,414 | 127,597 | 101,752 |
| Deferred income taxes | (12,796) | (4,680) | 22,300 |
| Loss on disposal of assets and impairment charges | 6,798 | 6,203 | 5,731 |
| Foreign currency loss | 35 | 29 | 227 |
| Gain from issuance of shares as payment of deferred consideration related to business acquisition (see Note 4) | (2,681) | — | — |
| Gain from settlement related to business acquisition (see Note 4) | (6,356) | — | — |
| Amortization of deferred financing costs and debt discount | 2,669 | 2,518 | 2,514 |
| Amortization of deferred income | (14,477) | (8,142) | (9,724) |
| Accretion of asset retirement obligation | 2,532 | 2,399 | 1,833 |
| Non-cash rent | 14,335 | 14,168 | 7,903 |
| Charges to allowance for credit losses | 845 | 1,265 | 659 |
| (Income) loss from equity investment | (124) | 39 | 74 |
| Share-based compensation | 12,339 | 15,015 | 12,161 |
| Fair value adjustment of financial assets and liabilities | (10,985) | (10,785) | (3,396) |
| Other operating activities, net | 125 | 2,631 | 775 |
| Changes in assets and liabilities: | |||
| Decrease (increase) in trade receivables | 38,058 | (17,937) | (50,229) |
| Decrease (increase) in inventory | 22,689 | (2,013) | (6,850) |
| Decrease (increase) in other assets | 13,893 | (29,386) | 1,476 |
| (Decrease) increase in accounts payable | (24,169) | (6,169) | 31,645 |
| (Decrease) increase in other current liabilities | (2,820) | 990 | 6,884 |
| Decrease in asset retirement obligation | (917) | (23) | (95) |
| Increase in non-current liabilities | 29,606 | 7,809 | 11,638 |
| Net cash provided by operating activities | $221,858 | $136,094 | $209,256 |
| For the Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flows from investing activities: | |||
| Purchase of property and equipment | $(113,914) | $(111,164) | $(98,595) |
| Purchase of intangible assets | — | (45) | (176) |
| Proceeds from sale of property and equipment | 53,549 | 310,240 | 287,901 |
| Business and asset acquisitions, net of cash | (54,549) | (494,871) | (419,726) |
| Prepayment for acquisitions | — | (1,000) | (4,000) |
| Decrease of investments | — | — | 58,934 |
| Loans to equity investment, net | 56 | 18 | 174 |
| Net cash used in investing activities | (114,858) | (296,822) | (175,488) |
| Cash flows from financing activities: | |||
| Receipt of long-term debt, net | 47,556 | 99,643 | 70,896 |
| Repayment of debt | (26,357) | (22,157) | (45,948) |
| Principal payments on financing leases | (4,940) | (5,497) | (6,543) |
| Early settlement of deferred consideration related to business acquisition (see Note 4) | (17,155) | — | — |
| Proceeds from sale-leaseback | — | 80,397 | 54,988 |
| Payment of Additional Consideration | (3,354) | (3,505) | (5,913) |
| Payment of Ares Put Option | — | (9,808) | — |
| Common stock repurchased | (31,989) | (33,694) | (40,042) |
| Dividends paid on common stock | (14,015) | (14,272) | (10,893) |
| Dividends paid on redeemable preferred stock | (5,750) | (5,750) | (5,750) |
| Distributions to non-controlling interests | — | — | (240) |
| Net cash (used in) provided by financing activities | (56,004) | 85,357 | 10,555 |
| Net increase (decrease) in cash and cash equivalents and restricted cash | 50,996 | (75,371) | 44,323 |
| Effect of exchange rate on cash and cash equivalents and restricted cash | (9) | 23 | (97) |
| Cash and cash equivalents and restricted cash, beginning of year | 241,421 | 316,769 | 272,543 |
| Cash and cash equivalents and restricted cash, end of year | $292,408 | $241,421 | $316,769 |
| Reconciliation of cash and cash equivalents and restricted cash | |||
| Cash and cash equivalents, beginning of year | $218,120 | $298,529 | $252,141 |
| Restricted cash, beginning of year | 23,301 | 18,240 | 20,402 |
| Cash and cash equivalents and restricted cash, beginning of year | $241,421 | $316,769 | $272,543 |
| Cash and cash equivalents, end of year | $261,758 | $218,120 | $298,529 |
| Restricted cash, end of year | 30,650 | 23,301 | 18,240 |
| Cash and cash equivalents and restricted cash, end of year | $292,408 | $241,421 | $316,769 |
| For the Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Supplementary cash flow information: | |||
| Cash received for interest | $9,485 | $7,944 | $1,964 |
| Cash paid for interest | 92,103 | 82,477 | 57,653 |
| Cash received for taxes | 763 | 836 | 283 |
| Cash paid for taxes | 10,422 | 29,456 | 6,747 |
| Supplementary noncash activities: | |||
| Prepaid insurance premiums financed through notes payable | 7,703 | 10,711 | 6,668 |
| Purchases of equipment in accounts payable and accrued expenses | 10,211 | 14,888 | 9,007 |
| Purchase of property and equipment under leases | 55,687 | 7,870 | 21,534 |
| Disposals of leases of property and equipment | 14,044 | 22,986 | 19,885 |
| Issuance of shares as payment of deferred consideration related to business acquisition | 22,319 | — | — |
| Deferred consideration related to business acquisitions | — | 47,100 | — |
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