XML 16 R7.htm IDEA: XBRL DOCUMENT v3.23.3
Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Oct. 01, 2022
Operating Activities    
Net Income Attributable to Kadant $ 88,673 $ 94,849
Net income attributable to noncontrolling interest 571 672
Net Income 89,244 95,521
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 24,917 26,387
Stock-based compensation expense 7,243 6,576
Gain on sale of assets (Note 2) 0 (20,190)
Other items, net 2,346 9,127
Changes in assets and liabilities, net of effects of acquisitions:    
Accounts receivable (10,676) (20,700)
Contract assets 2,465 (8,528)
Inventories (1,461) (33,784)
Other assets 667 (947)
Accounts payable (12,913) (262)
Customer deposits (1,463) 16,163
Other liabilities 5,942 (1,901)
Net cash provided by operating activities 106,311 67,462
Investing Activities    
Acquisitions, net of cash acquired 277 138
Purchases of property, plant, and equipment (22,094) (16,191)
Proceeds from sale of property, plant, and equipment 535 2,091
Other investing activities 1,222 39
Net cash used in investing activities (20,060) (13,923)
Financing Activities    
Proceeds from issuance of short- and long-term obligations 0 21,554
Repayment of short- and long-term obligations (71,868) (69,460)
Tax withholding payments related to stock-based compensation (3,915) (4,607)
Dividends paid (9,825) (8,969)
Dividend paid to noncontrolling interest 0 (630)
Other financing activities (63) 0
Net cash used in financing activities (85,671) (62,112)
Exchange Rate Effect on Cash, Cash Equivalents, and Restricted Cash (1,252) (10,474)
Decrease in Cash, Cash Equivalents, and Restricted Cash (672) (19,047)
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period 79,725 94,161
Cash, Cash Equivalents, and Restricted Cash at End of Period $ 79,053 $ 75,114