← ASTRONICS CORP

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:
Net Income (Loss) Attributable to Parent $48.4m $19.7m $46.8m $52.0m ($115.8m) ($25.6m) ($35.7m) ($26.4m) ($16.2m) $29.4m
Depreciation, Depletion and Amortization $25.8m $27.1m $35.0m $33.0m $31.9m $29.0m $27.8m $26.1m $24.5m $21.8m
Amortization of Debt Issuance Costs — — — — — — — $3.0m $2.6m $2.5m
Amortization of Debt Issuance Costs and Discounts — — — — — — — $3.0m $3.2m $3.0m
Amortization of Intangible Assets $10.8m $12.3m $19.4m $17.6m $17.1m $15.4m $14.9m $13.9m $12.9m $11.5m
Depreciation $14.3m $14.1m $15.0m $13.7m $13.3m $12.7m $12.0m $12.2m $11.5m $10.2m
Amortization of Deferred Financing Fees — — — — — $0 $0 $3.0m $3.2m $3.0m
Deferred Income Tax Expense (Benefit) ($4.8m) ($5.5m) ($2.7m) ($14.4m) $15.6m ($441k) $19k $146k ($20k) ($1.4m)
Deferred Tax (Benefit) Expense ($4.8m) ($5.5m) ($2.7m) ($14.4m) $15.6m ($441k) $19k $146k ($20k) ($1.4m)
Share-based Payment Arrangement, Noncash Expense $2.3m $2.6m $3.1m $3.8m $5.2m $6.5m $6.5m $7.2m $8.6m $6.8m
Share-based Payment Arrangement, Expense $2.3m $2.6m $3.1m $3.8m $5.2m $6.5m $6.5m $7.2m $8.6m $6.8m
Equity Securities without Readily Determinable Fair Value, Impairment Loss, Annual Amount — — — $5.0m $3.5m $0 $0 — — —
Goodwill, Impairment Loss $0 $16.2m $0 $1.6m $86.3m $0 $0 $0 $0 $0
Impairment of Intangible Assets (Excluding Goodwill) $0 $0 $0 — $0 — — — $0 $0
Operating Lease, Impairment Loss — — — $1.0m $691k $0 — $53k $0 —
Restructuring Costs and Asset Impairment Charges — — — — $92.3m $798k $195k — — —
Gain (Loss) on Extinguishment of Debt — — — — — — — — ($10.1m) —
Gain (Loss) on Disposition of Business — — — $78.8m $0 $10.7m $11.3m $3.4m $0 $0
Gain (Loss) on Disposition of Other Assets — — — — — $5.1m $0 $0 — —
Gain (Loss) on Disposition of Property Plant Equipment — — — — — $5.0m $0 $0 — —
Income Tax Expense (Benefit) $20.4m $5.3m $5.5m $16.3m $3.4m ($1.4m) $6.0m $110k $8.3m $2.6m
Other Nonoperating Income (Expense) — — — — — — — — ($2.2m) $738k
Operating Lease Liabilities — — $0 ($3.8m) ($4.6m) ($6.0m) ($7.3m) ($4.9m) ($5.1m) ($4.6m)
Changes in operating assets and liabilities:
Additional Financial Items
Increase (Decrease) in Accounts Receivable $14.6m $9.8m $47.3m ($34.1m) ($53.9m) $14.8m $41.6m $31.9m $22.0m $8.1m
Increase (Decrease) in Inventories $2.7m $18.1m $14.7m $12.7m $13.6m $5.2m $34.1m $13.3m $21.6m $4.4m
Increase (Decrease) in Accounts Payable ($2.0m) $10.4m $9.2m ($16.6m) ($9.9m) $8.6m $27.8m ($4.5m) ($17.7m) ($3.1m)
Proceeds from Stock Options Exercised $3.8m $441k $2.2m — — — — — — —
Gain (Loss) Related to Litigation Settlement — — — ($19.6m) $0 ($8.4m) ($500k) $1.3m — —
Goodwill $115.2m $125.6m $125.0m $145.0m $58.3m $58.3m $58.2m $58.2m $58.1m $62.9m
Payments of Financing Costs — — — — — — $2.4m — $12.2m $10.4m
Restructuring Costs — — — $6.5m $1.2m $267k $0 — — $6.2m
Provisions for Non-Cash Losses on Inventory and Receivables $2.4m $3.0m $3.3m $16.9m $6.1m $3.9m $3.4m $16.0m $13.8m $10.0m
Equity-based Compensation Expense $2.3m $2.6m $3.1m $3.8m $5.2m $6.5m $6.5m $7.2m $8.6m $6.8m
Loss on Settlement of Debt — — — — — — — $0 $10.1m $32.6m
Simplification Initiative-related Non-cash Charges — $0 $0 $6.5m $1.2m $267k $0 $0 $0 $6.2m
Net Gain on Sale of Business, Before Taxes — $0 $0 ($78.8m) $0 ($10.7m) ($11.3m) ($3.4m) $0 $0
Non-cash 401K Contribution and Quarterly Bonus Accrual — — — — — $4.2m $4.5m $5.1m $3.5m $0
Non-cash Annual Stock Bonus Accrual — — — — — — $0 $2.8m $0 $0
Non-cash Litigation Provision Adjustment — — — — — $8.4m $500k ($1.3m) $4.5m $0
Non-cash Deferred Liability Recovery — — — — — $0 $0 ($5.8m) $0 $0
Other ($1.6m) ($2.0m) ($3.4m) $1.6m $2.2m $3.9m $3.1m $1.9m ($145k) ($141k)
Accounts Receivable ($14.6m) ($9.8m) ($47.3m) $34.1m $53.9m ($14.8m) ($41.6m) ($31.9m) ($22.0m) ($8.1m)
Inventories ($2.7m) ($18.1m) ($14.7m) ($12.7m) ($13.6m) ($5.2m) ($34.1m) ($13.3m) ($21.6m) ($4.4m)
Accounts Payable ($2.0m) $10.4m $9.2m ($16.6m) ($9.9m) $8.6m $27.8m ($4.5m) ($17.7m) ($3.1m)
Accrued Expenses ($174k) ($702k) $9.2m ($10.7m) ($17.7m) ($5.0m) $787k $4.6m $22.0m ($15.0m)
Income Taxes $7.9m ($376k) ($4.5m) $3.4m ($10.4m) $156k $16.1m ($1.9m) $4.5m ($7.9m)
Tenant Improvement Allowance Refund — — — — — — — $0 $0 $8.1m
Cloud Computing Implementation Costs — — — — — — — $0 $0 ($1.1m)
Customer Advanced Payments and Deferred Revenue ($15.5m) ($4.9m) $15.7m ($11.9m) ($7.0m) ($235k) $5.3m ($4.8m) $5.7m ($4.2m)
Other Assets and Liabilities — — — — — $327k ($145k) $1.3m $2.3m $1.6m
Proceeds from Sale of Businesses and Assets — $0 $0 $104.9m $0 $9.2m $22.1m $3.5m $0 $0
Partial Repurchase of 2030 Convertible Notes — — — — — — — $0 $0 ($285.8m)
Payments for Capped Call Transactions — — — — — — — $0 $0 ($26.9m)
Financing-Related Costs — — — — ($360k) $0 ($2.4m) ($6.8m) ($12.2m) ($10.4m)
Financing Settlement Costs — — — — — — — $0 ($4.5m) $0
Stock Award and Employee Stock Purchase Plan (“ESPP”) activity — $441k $2.2m ($545k) $666k $3.4m $97k $2.5m ($241k) $753k
Proceeds from At-the-Market (“ATM”) Stock Sales — — — — — $0 $0 $21.3m $0 $0
Capital Expenditures in Accounts Payable — — — — $0 $0 $490k $0 $0 $2.0m
Other Operating Income (Expense), Net — — ($1.7m) ($6.1m) ($5.0m) ($2.2m) ($1.6m) $261k — —
Net Cash Provided by (Used in) Operating Activities $48.9m $37.8m $54.9m $42.7m $37.3m ($5.5m) ($28.3m) ($23.9m) $30.6m $74.8m
Cash flows from investing activities:
Capital Expenditures ($13.0m) ($13.5m) ($16.3m) ($12.1m) ($7.5m) ($6.0m) ($7.7m) ($7.6m) ($8.4m) ($31.7m)
Payments to Acquire Businesses, Net of Cash Acquired $0 $114.0m $0 $28.9m $0 $0 — $0 $0 $22.1m
Acquisitions of Businesses, Net of Cash Acquired $0 ($114.0m) $0 ($28.9m) $0 $0 — $0 $0 ($22.1m)
Payments for (Proceeds from) Other Investing Activities $1.6m $2.0m $3.4m ($743k) ($1.7m) $0 $0 — — —
Net Cash from Investing Activities — ($129.6m) ($19.7m) $64.6m ($5.8m) $3.2m $14.4m ($4.1m) ($8.4m) ($53.7m)
Net Cash Provided by (Used in) Investing Activities ($14.6m) ($129.6m) ($19.7m) $64.6m ($5.8m) $3.2m $14.4m ($4.1m) ($8.4m) ($53.7m)
Cash flows from financing activities:
Proceeds from Issuance of Long-term Debt $20.0m $147.1m $35.0m $117.0m $155.0m $20.0m $125.8m $139.7m $377.4m $186.1m
Proceeds from Long-term Debt $20.0m $147.1m $35.0m $117.0m $155.0m $20.0m $125.8m $139.7m $377.4m $186.1m
Proceeds from Issuance of Convertible Debt — — — — — — — $0 $0 $225.0m
Repayments of Long-term Debt $41.8m $23.7m $72.8m $156.1m $170.2m $30.0m $124.8m $131.2m $374.9m $111.1m
Principal Payments on Long-term Debt ($41.8m) ($23.7m) ($72.8m) ($156.1m) ($170.2m) ($30.0m) ($124.8m) ($131.2m) ($374.9m) ($111.1m)
Proceeds from Issuance of Common Stock — — — — — — — $21.3m $0 $0
Payments for Repurchase of Common Stock $17.6m $32.4m $0 $50.8m $7.7m $0 $0 — — —
Proceeds from (Payments for) Other Financing Activities — — — — — — — — ($145k) ($141k)
Net Cash from Financing Activities — $91.4m ($36.1m) ($92.2m) ($24.6m) ($7.5m) ($1.4m) $25.4m ($14.5m) ($22.4m)
Net Cash Provided by (Used in) Financing Activities — $91.4m ($36.1m) ($92.2m) ($24.6m) ($7.5m) ($1.4m) $25.4m ($14.5m) ($22.4m)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents ($86k) $366k ($372k) $147k $1.5m ($799k) ($641k) $156k ($493k) $1.1m
Effect of Exchange Rates on Cash ($86k) $366k ($372k) $147k $1.5m ($799k) ($641k) $156k ($493k) $1.1m
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect — $13k ($1.3m) $15.3m $8.5m ($10.7m) ($16.0m) ($2.5m) $7.1m ($248k)
(Decrease) Increase in Cash and Cash Equivalents and Restricted Cash — $13k ($1.3m) $15.3m $8.5m ($10.7m) ($16.0m) ($2.5m) $7.1m ($248k)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents — $13k ($1.3m) $31.9m $40.4m $29.8m $13.8m $11.3m $18.4m ($248k)
Cash and Cash Equivalents and Restricted Cash at Beginning of Year — — — — — $40.4m $29.8m $13.8m $11.3m $18.2m
Supplemental disclosure of cash flow information:
Supplemental Retirement Plan Liabilities $1.5m $1.3m $1.9m $1.5m ($403k) ($404k) ($405k) ($408k) ($410k) ($716k)
Interest Paid, Excluding Capitalized Interest, Operating Activities $4.5m $4.8m $9.7m $5.7m $5.8m $6.0m $7.6m $17.7m $19.2m $9.0m
Income Taxes Paid, Net $15.9m $10.8m $12.2m $27.3m ($1.5m) ($1.2m) ($10.0m) $2.0m $3.5m $11.6m

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.