CLARIVATE PLC
For the period ended Jun 30, 2024. Filed Aug 6, 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.
Jun 30, 2024 · Filed Aug 6, 2024
CLVT$2.39+0.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Comprehensive Income (Loss)
Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited)
| Three Months Ended June 30, | ||
|---|---|---|
| (In millions) | 2024 | 2023 |
| Net income (loss) | $(304.3) | $(123.1) |
| Other comprehensive income (loss), net of tax: | ||
| Interest rate swaps, net of tax of $(0.2) and $2.4 | (0.4) | 7.3 |
| Foreign currency translation adjustment | 15.7 | 82.6 |
| Other comprehensive income (loss), net of tax | 15.3 | 89.9 |
| Comprehensive income (loss) | $(289.0) | $(33.2) |
| Six Months Ended June 30, | ||
|---|---|---|
| (In millions) | 2024 | 2023 |
| Net income (loss) | $(379.3) | $(79.6) |
| Other comprehensive income (loss), net of tax: | ||
| Interest rate swaps, net of tax of $0.7 and $(1.7) | 2.2 | (5.1) |
| Foreign currency translation adjustment | (3.9) | 183.4 |
| Other comprehensive income (loss), net of tax | (1.7) | 178.3 |
| Comprehensive income (loss) | $(381.0) | $98.7 |
Condensed Consolidated Statements of Changes in Equity (Unaudited)
| Ordinary Shares · Preferred Shares · Accumulated Other Comprehensive Loss · Accumulated Deficit · TotalShareholders’ Equity | |||||||
|---|---|---|---|---|---|---|---|
| (In millions) · Shares · Amount · Shares · Amount | |||||||
| Balance at December 31, 2023 | 666.1 | $11,740.5 | 14.4 | $1,392.6 | $(495.3) | $(6,645.5) | $5,992.3 |
| Vesting of restricted stock units | 3.3 | — | — | — | — | — | — |
| Share-based award activity | (1.2) | 6.9 | — | — | — | — | 6.9 |
| Dividends to preferred shareholders | — | — | — | — | — | (18.8) | (18.8) |
| Net income (loss) | — | — | — | — | — | (75.0) | (75.0) |
| Other comprehensive income (loss) | — | — | — | — | (17.0) | — | (17.0) |
| Balance at March 31, 2024 | 668.2 | $11,747.4 | 14.4 | $1,392.6 | $(512.3) | $(6,739.3) | $5,888.4 |
| Vesting of restricted stock units | 0.7 | — | — | — | — | — | — |
| Share-based award activity | (0.1) | 17.7 | — | — | — | — | 17.7 |
| Conversion of preferred shares into ordinary shares | 55.3 | 1,392.6 | (14.4) | (1,392.6) | — | — | — |
| Dividends to preferred shareholders | — | — | — | — | — | (12.5) | (12.5) |
| Net income (loss) | — | — | — | — | — | (304.3) | (304.3) |
| Other comprehensive income (loss) | — | — | — | — | 15.3 | — | 15.3 |
| Balance at June 30, 2024 | 724.1 | $13,157.7 | — | $— | $(497.0) | $(7,056.1) | $5,604.6 |
| Ordinary Shares · Preferred Shares · Accumulated Other Comprehensive Loss · Accumulated Deficit · TotalShareholders’ Equity | |||||||
|---|---|---|---|---|---|---|---|
| (In millions) · Shares · Amount · Shares · Amount | |||||||
| Balance at December 31, 2022 | 674.4 | $11,744.7 | 14.4 | $1,392.6 | $(665.9) | $(5,658.9) | $6,812.5 |
| Vesting of restricted stock units | 1.8 | — | — | — | — | — | — |
| Share-based award activity | (0.6) | 33.7 | — | — | — | — | 33.7 |
| Dividends to preferred shareholders | — | — | — | — | — | (18.8) | (18.8) |
| Net income (loss) | — | — | — | — | — | 43.5 | 43.5 |
| Other comprehensive income (loss) | — | — | — | — | 88.4 | — | 88.4 |
| Balance at March 31, 2023 | 675.6 | $11,778.4 | 14.4 | $1,392.6 | $(577.5) | $(5,634.2) | $6,959.3 |
| Vesting of restricted stock units | 0.8 | — | — | — | — | — | — |
| Share-based award activity | (0.3) | 30.8 | — | — | — | — | 30.8 |
| Dividends to preferred shareholders | — | — | — | — | — | (18.6) | (18.6) |
| Net income (loss) | — | — | — | — | — | (123.1) | (123.1) |
| Other comprehensive income (loss) | — | — | — | — | 89.9 | — | 89.9 |
| Balance at June 30, 2023 | 676.1 | $11,809.2 | 14.4 | $1,392.6 | $(487.6) | $(5,775.9) | $6,938.3 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
| Six Months Ended June 30, | ||
|---|---|---|
| (In millions) | 2024 | 2023 |
| Cash Flows From Operating Activities | ||
| Net income (loss) | $(379.3) | $(79.6) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
| Depreciation and amortization | 363.8 | 350.7 |
| Share-based compensation | 33.9 | 71.6 |
| Restructuring and other impairments, including goodwill | 301.3 | 138.7 |
| Gain on legal settlement | — | (49.4) |
| Deferred income taxes | (24.6) | (47.8) |
| Amortization of debt issuance costs | 7.9 | 9.1 |
| Other operating activities | 14.3 | 17.0 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 103.2 | 121.7 |
| Prepaid expenses | 1.1 | (11.9) |
| Other assets | (5.4) | 38.6 |
| Accounts payable | (12.2) | 6.2 |
| Accrued expenses and other current liabilities | (38.3) | (74.2) |
| Deferred revenues | (59.7) | (18.4) |
| Operating leases, net | (4.8) | (4.5) |
| Other liabilities | 1.2 | (77.9) |
| Net cash provided by operating activities | 302.4 | 389.9 |
| Cash Flows From Investing Activities | ||
| Capital expenditures | (130.3) | (116.9) |
| Payments for acquisitions, net of cash acquired | (17.1) | (1.1) |
| Proceeds from divestitures, net of cash divested | (19.2) | 10.5 |
| Net cash provided by (used for) investing activities | (166.6) | (107.5) |
| Cash Flows From Financing Activities | ||
| Principal payments on term loans | (52.7) | (150.0) |
| Payment of debt issuance costs and discounts | (20.1) | 0.1 |
| Cash dividends on preferred shares | (37.7) | (37.7) |
| Payments related to finance lease | (0.4) | (0.5) |
| Payments related to tax withholding for share-based compensation | (9.9) | (9.7) |
| Net cash provided by (used for) financing activities | (120.8) | (197.8) |
| Effects of exchange rates | (9.3) | 1.7 |
| Net change in cash and cash equivalents, including restricted cash | $5.7 | $86.3 |
| Cash and cash equivalents, including restricted cash, beginning of period | $370.7 | $356.8 |
| Cash and cash equivalents, including restricted cash, end of period | $376.4 | $443.1 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.