AMERICOLD REALTY TRUST
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
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FY2024 · Filed Feb 27, 2025
COLD$16.14+0.5%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
| Americold Realty Trust, Inc. and Subsidiaries | |||
|---|---|---|---|
| Consolidated Statements of Cash Flows | |||
| (In thousands) | |||
| Years Ended December 31, | |||
| 2024 | 2023 | 2022 | |
| Operating activities: | |||
| Net loss | $(94,749) | $(336,269) | $(19,474) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | |||
| Depreciation and amortization | 360,817 | 353,743 | 331,446 |
| Amortization of deferred financing costs and pension withdrawal liability | 5,329 | 5,095 | 4,833 |
| Loss on debt extinguishment, modifications and termination of derivative instruments, non-cash | 116,082 | 2,482 | 3,217 |
| Loss from investments in partially owned entities | 3,702 | 5,553 | 9,300 |
| Gain on extinguishment of new market tax credit structure | — | — | (3,410) |
| Loss on deconsolidation of subsidiary contributed | — | — | 4,148 |
| Stock-based compensation expense | 28,233 | 23,592 | 27,137 |
| Deferred income tax benefit | (13,210) | (10,781) | (22,561) |
| Impairment of indefinite and long-lived assets | 33,126 | 236,515 | 7,380 |
| Provision for doubtful accounts receivable | 7,633 | 6,422 | 7,394 |
| Impairment of related party loan receivable | — | 21,972 | — |
| Loss on put option | — | 56,576 | — |
| Loss on classification of Comfrio as held for sale | — | 4,616 | — |
| Non-cash operating lease expenses | 42,751 | 42,841 | 52,330 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | 22,748 | (2,748) | (68,629) |
| Accounts payable and accrued expenses | 17,349 | 23,545 | 13,291 |
| Other assets | (62,710) | (49,635) | (25,057) |
| Operating lease liabilities | (40,345) | (37,605) | (34,162) |
| Other, net | (14,879) | 20,241 | 12,813 |
| Net cash provided by operating activities | 411,877 | 366,155 | 299,996 |
| Investing activities: | |||
| Additions to property, buildings, and equipment | (309,458) | (264,467) | (308,365) |
| Business combinations, net of cash acquired | — | (46,653) | (15,829) |
| Acquisitions of property, buildings, equipment, and other assets, net of cash acquired | — | (65,771) | (14,581) |
| Investments in and advances to partially owned entities and other | (13,049) | (20,533) | (14,427) |
| Net payments for sale of business (discontinued operations) | — | (4,616) | — |
| Proceeds from sale of property, buildings, and equipment | 9,324 | 8,071 | 4,713 |
| Proceeds from sale of investments in partially owned entities | — | 36,896 | — |
| Net cash used in investing activities | (313,183) | (357,073) | (348,489) |
| Financing activities: | |||
| Distributions paid on common stock, restricted stock units and noncontrolling interests in OP | (252,119) | (242,221) | (238,709) |
| Proceeds from stock options exercised | 2,828 | 2,952 | 3,974 |
| Proceeds from employee stock purchase plan | 3,069 | 3,047 | 3,879 |
| Remittance of withholding taxes related to employee stock-based transactions | (3,646) | (3,375) | (8,308) |
| Proceeds from revolving line of credit | 827,224 | 716,326 | 529,354 |
| Repayment on revolving line of credit | (942,183) | (832,519) | (413,860) |
| Repayment of sale-leaseback financing obligations | (7,091) | (17,891) | (7,835) |
| Termination of sale-leaseback financing obligations | (190,954) | — | — |
| Repayment of financing lease obligations | (37,921) | (39,214) | (33,860) |
| Payment of debt issuance and extinguishment costs | (5,992) | — | (11,651) |
| Repayment of term loans, mortgage notes, and notes payable | — | — | (269,659) |
| Proceeds from senior unsecured notes and term loans | — | — | 470,000 |
| Proceeds from public senior unsecured notes offering | 500,000 | — | — |
| Net proceeds from issuance of common stock | — | 412,610 | — |
| Net cash (used in) provided by financing activities | (106,785) | (285) | 23,325 |
| Net (decrease) increase in cash, cash equivalents and restricted cash | (8,091) | 8,797 | (25,168) |
| Effect of foreign currency translation on cash, cash equivalents and restricted cash | (4,649) | (1,468) | (4,727) |
| Cash, cash equivalents and restricted cash: | |||
| Beginning of period | 60,392 | 53,063 | 82,958 |
| End of period | $47,652 | $60,392 | $53,063 |
| See accompanying Notes to Consolidated Financial Statements. | |||
| Americold Realty Trust, Inc. and Subsidiaries | |||
|---|---|---|---|
| Consolidated Statements of Cash Flows (Continued) | |||
| (In thousands) | |||
| Years Ended December 31, | |||
| 2024 | 2023 | 2022 | |
| Supplemental disclosures of non-cash investing and financing activities: | |||
| Addition of property, buildings and equipment on accrual | $32,538 | $34,034 | $49,378 |
| Right-of-use assets obtained in exchange for lease obligations: | |||
| Operating leases | $11,186 | $6,244 | $7,889 |
| Finance leases | $38,989 | $59,276 | $18,694 |
| Supplemental disclosures of cash flows information: | |||
| Interest paid – net of amounts capitalized | $122,023 | $134,513 | $118,161 |
| Income taxes paid – net of refunds | $6,718 | $5,828 | $7,885 |
| As of December 31, | |||
| Allocation of purchase price of property, buildings, equipment, and other assets, net of cash acquired to: | 2024 | 2023 | 2022 |
| Land | $— | $15,551 | $3,628 |
| Building and improvements | — | 35,551 | 8,289 |
| Machinery and equipment | — | 14,430 | 2,664 |
| Other assets and liabilities, net | — | 239 | — |
| Cash paid for acquisitions of property, buildings, equipment, and other assets, net | $— | $65,771 | $14,581 |
| As of December 31, | |||
| 2024 | 2023 | 2022 | |
| Allocation of purchase price of business combinations, net of cash acquired to: | |||
| Land | $— | $— | $514 |
| Buildings and improvements | — | — | 8,218 |
| Machinery and equipment | — | — | 3,676 |
| Goodwill | — | — | 3,107 |
| Other assets | — | — | 25 |
| Accounts payable and accrued expenses(1) | — | 46,653 | 289 |
| Assets of discontinued operations - held for sale | — | 86,085 | — |
| Liabilities of discontinued operations - held for sale | — | (86,085) | — |
| Total consideration | $— | $46,653 | $15,829 |
| (1)Accounts payable and accrued expenses activity as of December 31, 2023 represents the relief of the remaining put option liability for Comfrio. | |||
| See accompanying Notes to Consolidated Financial Statements. | |||
| Americold Realty Trust, Inc. and Subsidiaries | |||
|---|---|---|---|
| Consolidated Statements of Cash Flows (Continued) | |||
| (In thousands) | |||
| As of December 31, | |||
| 2024 | 2023 | 2022 | |
| Deconsolidation of Chile upon contribution to LATAM JV | |||
| Land | $— | $— | $(19,574) |
| Buildings and improvements | — | — | (10,118) |
| Machinery and equipment | — | — | (8,395) |
| Assets under construction | — | — | (20) |
| Accumulated depreciation | — | — | 1,959 |
| Cash, cash equivalents and restricted cash | — | — | (2,483) |
| Accounts receivable | — | — | (1,422) |
| Goodwill | — | — | (6,653) |
| Other assets | — | — | (309) |
| Accounts payable and accrued expenses | — | — | 1,105 |
| Mortgage notes, senior unsecured notes and term loans – net of unamortized deferred financing costs | — | — | 9,633 |
| Accumulated other comprehensive loss | — | — | (4,766) |
| Net carrying value of Chile assets and liabilities deconsolidated | $— | $— | $(41,043) |
| Recognition of investment in unconsolidated LATAM joint venture | $— | $— | $36,896 |
| See accompanying Notes to Consolidated Financial Statements. | |||
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