Axalta Coating Systems Ltd
For the period ended Dec 31, 2024. Filed Feb 13, 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 13, 2025
AXTA$37.38-0.4%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 Statements of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Operating activities: | |||
| Net income | $391 | $269 | $192 |
| Adjustment to reconcile net income to cash provided by operating activities: | |||
| Depreciation and amortization | 280 | 276 | 303 |
| Amortization of deferred financing costs and original issue discount | 7 | 9 | 10 |
| Debt extinguishment and refinancing-related costs | 5 | 10 | 15 |
| Deferred income taxes | (17) | (8) | (3) |
| Realized and unrealized foreign exchange losses, net | 11 | 21 | 16 |
| Stock-based compensation | 28 | 26 | 22 |
| Impairment charges | — | 15 | 1 |
| Gains on sales of facilities | — | — | (2) |
| Interest income on swaps designated as net investment hedges | (15) | (10) | (20) |
| Commercial agreement restructuring charge | — | — | 25 |
| Other non-cash, net | 9 | 22 | 6 |
| Changes in operating assets and liabilities: | |||
| Trade accounts and notes receivable | (7) | (119) | (171) |
| Inventories | 12 | 103 | (195) |
| Prepaid expenses and other assets | (130) | (71) | (81) |
| Accounts payable | (49) | 9 | 138 |
| Other accrued liabilities | 36 | 29 | 45 |
| Other liabilities | 15 | (6) | (7) |
| Cash provided by operating activities | 576 | 575 | 294 |
| Investing activities: | |||
| Acquisitions, net of cash acquired | (301) | (106) | (3) |
| Purchase of property, plant and equipment | (140) | (138) | (151) |
| Interest proceeds on swaps designated as net investment hedges | 15 | 10 | 20 |
| Settlement proceeds on swaps designated as net investment hedges | — | 29 | 25 |
| Payments for loans to customers | (22) | (3) | (4) |
| Other investing activities, net | 8 | 2 | 7 |
| Cash used for investing activities | (440) | (206) | (106) |
| Financing activities: | |||
| Proceeds from short-term borrowings | — | 9 | — |
| Proceeds from long-term borrowings | 333 | 697 | 1,980 |
| Payments on short-term borrowings | (5) | (50) | (91) |
| Payments on long-term borrowings | (420) | (904) | (2,042) |
| Financing-related costs | (6) | (17) | (15) |
| Net cash flows associated with stock-based awards | 4 | 8 | — |
| Purchases of common stock | (100) | (50) | (200) |
| Deferred acquisition-related consideration | (6) | (8) | — |
| Other financing activities, net | (1) | — | (1) |
| Cash used for financing activities | (201) | (315) | (369) |
| (Decrease) increase in cash and cash equivalents | (65) | 54 | (181) |
| Effect of exchange rate changes on cash | (42) | (6) | (15) |
| Cash at beginning of period | 703 | 655 | 851 |
| Cash at end of period | $596 | $703 | $655 |
| Cash at end of period reconciliation: | |||
| Cash and cash equivalents | $593 | $700 | $645 |
| Restricted cash | 3 | 3 | 10 |
| Cash at end of period | $596 | $703 | $655 |
| Supplemental cash flow information: | |||
| Cash paid during the year for: | |||
| Interest, net of amounts capitalized | $198 | $213 | $127 |
| Income taxes, net of refunds | 131 | 97 | 63 |
| Non-cash investing activities: | |||
| Accrued capital expenditures | $18 | $13 | $32 |
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