← Gates Industrial Corp plc
| 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 | $84.3m | $182.7m | $271.1m | $694.1m | — | $90.0m | $331.3m | $256.4m | $219.9m | $276.3m | |
| Net Income From Continuing Operations | — | — | — | — | — | — | $242.5m | $256.4m | $219.9m | $276.3m | |
| Net Income (Loss) Attributable to Parent | — | — | — | — | $79.4m | — | $220.8m | $232.9m | $194.9m | $251.4m | |
| Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | — | — | — | — | $90.3m | — | — | — | — | — | |
| Net Income (Loss) Attributable to Noncontrolling Interest | — | — | — | — | $10.6m | — | — | — | — | — | |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | — | — | — | — | $90.0m | — | — | — | — | — | |
| Amortization of Intangible Assets | — | — | — | — | $129.3m | — | — | — | — | — | |
| Depreciation | — | — | — | — | $89.3m | — | $217.2m | $217.5m | $216.9m | $213.8m | |
| Depreciation and amortization | $240.8m | $212.2m | $218.5m | $222.2m | — | $218.6m | $222.6m | $217.5m | $216.9m | $213.8m | |
| Depreciation, Depletion and Amortization | — | — | — | — | $218.6m | — | $217.2m | $217.5m | $216.9m | $213.8m | |
| Other Depreciation and Amortization | — | — | — | — | — | — | — | — | — | — | |
| Depreciation Amortization Depletion | — | — | — | — | — | — | $217.2m | $217.5m | $216.9m | $213.8m | |
| Deferred Income Tax Expense (Benefit) | — | — | — | — | ($47.7m) | — | — | — | — | — | |
| Deferred income taxes | ($54.3m) | ($162.8m) | ($64.9m) | ($648.4m) | — | ($47.7m) | ($94.3m) | ($65.7m) | ($12.1m) | ($26.0m) | |
| Deferred Income Tax | — | — | — | — | — | — | ($79.7m) | ($65.7m) | ($12.1m) | ($26.0m) | |
| Deferred Tax | — | — | — | — | — | — | ($79.7m) | ($65.7m) | ($12.1m) | ($26.0m) | |
| Asset impairments | — | — | $2.7m | $1.9m | — | $6.6m | $2.0m | $100k | $0 | $3.5m | |
| Goodwill, Impairment Loss | — | — | — | — | $0 | — | — | — | — | — | |
| Impairment of Intangible Assets (Excluding Goodwill) | — | — | — | — | $0 | — | — | — | — | — | |
| Payment, Tax Withholding, Share-based Payment Arrangement | — | — | — | — | — | — | — | — | — | — | |
| Restructuring Costs and Asset Impairment Charges | — | — | — | — | $9.0m | — | — | — | — | — | |
| Share-based Payment Arrangement, Noncash Expense | — | — | — | — | $19.8m | — | — | — | — | — | |
| Share-based compensation expense | $4.2m | $5.4m | $6.0m | $15.0m | — | $19.8m | $24.6m | $27.4m | $28.8m | $27.2m | |
| Asset Impairment Charge | — | — | — | — | — | — | $2.6m | $100k | $0 | $3.5m | |
| Gain (Loss) on Disposition of Property Plant Equipment | — | — | — | — | — | — | — | — | — | — | |
| Income Tax Expense (Benefit) | — | — | — | — | ($19.3m) | — | — | — | — | — | |
| Interest Expense Nonoperating | — | — | — | — | — | — | — | — | — | — | |
| Operating Lease, Expense | — | — | — | — | $29.9m | — | — | — | — | — | |
| Other Nonoperating Income (Expense) | — | — | — | — | $14.2m | — | — | — | — | — | |
| Income (Loss) from Equity Method Investments, Net of Dividends or Distributions | — | — | — | — | $0 | — | — | — | — | — | |
| Changes in operating assets and liabilities: | |||||||||||
| Additional Financial Items | |||||||||||
| Accrued capital expenditures | $3.9m | $1.7m | $1.0m | $1.8m | — | $1.0m | $1.0m | $600k | $1.2m | $3.0m | |
| Cash Flow From Continuing Operating Activities | $376.7m | $319.9m | $313.5m | $348.9m | — | $309.0m | $265.8m | $481.0m | $379.6m | $478.1m | |
| Cash deconsolidated from previously controlled subsidiary | — | — | — | — | — | — | — | $0 | ($12.5m) | $0 | |
| Cash paid under company-owned life insurance policies | ($5.1m) | ($6.4m) | ($7.4m) | ($10.7m) | — | ($10.9m) | ($11.2m) | ($18.2m) | ($5.4m) | ($11.5m) | |
| Cash received under company-owned life insurance policies | — | $3.1m | $2.9m | $12.0m | — | $1.5m | $2.4m | $6.6m | $14.5m | $4.9m | |
| Deconsolidation, Gain (Loss), Amount | — | — | — | — | — | — | — | — | — | — | |
| Decrease in postretirement benefit obligations, net | ($5.8m) | ($7.4m) | ($4.6m) | ($9.4m) | — | ($12.4m) | ($14.7m) | ($9.9m) | ($9.0m) | ($17.4m) | |
| Foreign Currency Transaction Gain (Loss), before Tax | — | — | — | — | ($46.9m) | — | — | — | — | — | |
| Goodwill | — | — | — | — | $2.1b | — | — | — | — | — | |
| Increase (Decrease) in Accounts Payable | — | — | — | — | $28.6m | — | — | — | — | — | |
| Increase (Decrease) in Accounts Receivable | — | — | — | — | ($9.7m) | — | — | — | — | — | |
| Increase (Decrease) in Inventories | — | — | — | — | $22.1m | — | — | — | — | — | |
| Issuance of shares | $1.1m | $600k | $799.7m | $1.8m | — | $3.1m | $4.6m | $18.7m | $14.9m | $10.4m | |
| Loss on deconsolidation of Russian subsidiary | — | — | — | — | — | — | $0 | $0 | $12.7m | $0 | |
| Other operating activities | $800k | $1.6m | $3.6m | $6.0m | — | $9.1m | $3.7m | $5.3m | ($100k) | $4.3m | |
| Proceeds from Stock Options Exercised | — | — | — | — | $3.1m | — | — | — | — | — | |
| Purchases of intangible assets | ($9.1m) | ($10.0m) | ($16.6m) | ($11.0m) | — | ($9.2m) | ($9.3m) | ($10.2m) | ($23.6m) | ($40.7m) | |
| Repurchase of shares | ($2.0m) | ($1.6m) | $0 | $0 | — | $0 | ($10.6m) | ($251.7m) | ($176.1m) | ($119.3m) | |
| —Accounts payable | $50.2m | $49.9m | $42.1m | ($48.2m) | — | $28.6m | $99.6m | ($17.8m) | ($27.6m) | $4.3m | |
| —Accounts receivable | ($44.8m) | ($24.6m) | ($49.6m) | $41.8m | — | $9.7m | ($22.3m) | $45.6m | $8.4m | $18.4m | |
| —Inventories | $39.5m | ($45.4m) | ($96.1m) | $65.1m | — | ($22.1m) | ($192.4m) | $24.5m | ($64.0m) | $14.3m | |
| —Other liabilities | $19.0m | ($9.4m) | ($18.1m) | ($43.5m) | — | $31.2m | ($8.3m) | $14.6m | $20.8m | ($26.8m) | |
| —Prepaid expenses and other assets | ($2.1m) | $2.3m | ($27.5m) | ($2.6m) | — | $6.8m | ($41.3m) | $22.3m | $37.3m | $29.7m | |
| —Taxes payable | $35.0m | $6.5m | ($15.3m) | $46.2m | — | ($48.1m) | $38.7m | ($14.5m) | ($900k) | ($18.6m) | |
| Beginning Cash Position | — | — | — | — | — | — | $660.9m | $581.4m | $724.0m | $684.8m | |
| Cash Flow From Continuing Financing Activities | — | — | — | — | — | — | ($253.1m) | ($258.3m) | ($286.7m) | ($251.1m) | |
| Cash Flow From Continuing Investing Activities | — | — | — | — | — | — | ($90.7m) | ($81.8m) | ($104.4m) | ($119.0m) | |
| Change In Account Payable | — | — | — | — | — | — | ($15.9m) | ($17.8m) | ($27.6m) | $4.3m | |
| Change In Income Tax Payable | — | — | — | — | — | — | ($24.4m) | ($14.5m) | ($900k) | ($18.6m) | |
| Change In Inventory | — | — | — | — | — | — | $2.9m | $24.5m | ($64.0m) | $14.3m | |
| Change In Other Current Liabilities | — | — | — | — | — | — | ($41.1m) | $14.6m | $20.8m | ($26.8m) | |
| Change In Payable | — | — | — | — | — | — | ($40.3m) | ($32.3m) | ($28.5m) | ($14.3m) | |
| Change In Payables And Accrued Expense | — | — | — | — | — | — | ($40.3m) | ($32.3m) | ($28.5m) | ($14.3m) | |
| Change In Prepaid Assets | — | — | — | — | — | — | $50.3m | $22.3m | $37.3m | $29.7m | |
| Change In Receivables | — | — | — | — | — | — | ($129.3m) | $45.6m | $8.4m | $18.4m | |
| Change In Tax Payable | — | — | — | — | — | — | ($24.4m) | ($14.5m) | ($900k) | ($18.6m) | |
| Change In Working Capital | — | — | — | — | — | — | ($157.5m) | $74.7m | ($26.0m) | $21.3m | |
| Changes In Account Receivables | — | — | — | — | — | — | ($129.3m) | $45.6m | $8.4m | $18.4m | |
| Changes In Cash | — | — | — | — | — | — | ($78.0m) | $140.9m | ($11.5m) | $108.0m | |
| End Cash Position | — | — | — | — | — | — | $581.4m | $724.0m | $684.8m | $815.0m | |
| Financing Cash Flow | — | — | — | — | — | — | ($253.1m) | ($258.3m) | ($286.7m) | ($251.1m) | |
| Free Cash Flow | — | — | — | — | — | — | $178.8m | $409.6m | $272.9m | $364.2m | |
| Gain Loss On Sale Of Business | — | — | — | — | — | — | $0 | $0 | $12.7m | $0 | |
| Gain Loss On Sale Of PPE | — | — | — | — | — | — | $0 | $0 | ($7.3m) | $300k | |
| Investing Cash Flow | — | — | — | — | — | — | ($90.7m) | ($81.8m) | ($104.4m) | ($119.0m) | |
| Issuance Of Capital Stock | — | — | — | — | — | — | $15.9m | $18.7m | $14.9m | $10.4m | |
| Net Business Purchase And Sale | — | — | — | — | — | — | — | $0 | ($12.5m) | $0 | |
| Net Foreign Currency Exchange Gain Loss | — | — | — | — | — | — | $5.8m | ($24.8m) | ($44.2m) | ($25.2m) | |
| Net Intangibles Purchase And Sale | — | — | — | — | — | — | ($9.4m) | ($10.2m) | ($23.6m) | ($40.7m) | |
| Net PPE Purchase And Sale | — | — | — | — | — | — | ($77.6m) | ($60.0m) | ($71.1m) | ($70.9m) | |
| Operating Gains Losses | — | — | — | — | — | — | ($10.2m) | ($34.7m) | ($47.8m) | ($42.3m) | |
| Other Non Cash Items | — | — | — | — | — | — | $6.6m | $5.3m | ($100k) | $4.3m | |
| Pension And Employee Benefit Expense | — | — | — | — | — | — | ($16.0m) | ($9.9m) | ($9.0m) | ($17.4m) | |
| Purchase Of Business | — | — | — | — | — | — | — | $0 | ($12.5m) | $0 | |
| Purchase Of Intangibles | — | — | — | — | — | — | ($9.4m) | ($10.2m) | ($23.6m) | ($40.7m) | |
| Purchase Of PPE | — | — | — | — | $58.2m | $77.7m | ($77.6m) | ($61.2m) | ($83.1m) | ($73.2m) | |
| Repurchase Of Capital Stock | — | — | — | — | — | — | ($175.9m) | ($251.7m) | ($176.1m) | ($119.3m) | |
| Sale Of PPE | — | — | — | — | — | — | $0 | $1.2m | $12.0m | $2.3m | |
| Stock Based Compensation | — | — | — | — | — | — | $44.3m | $27.4m | $28.8m | $27.2m | |
| Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | — | — | — | — | ($300k) | — | — | — | — | — | |
| Other Operating Income (Expense), Net | — | — | — | — | $1.0m | — | — | — | — | — | |
| Net cash provided by operating activities | $376.7m | $319.9m | $313.5m | $348.9m | $309.0m | $309.0m | $382.4m | $481.0m | $379.6m | $478.1m | |
| Net Cash Provided by (Used in) Operating Activities | — | — | — | — | $309.0m | — | $265.8m | $481.0m | $379.6m | $478.1m | |
| Cash flows from investing activities: | |||||||||||
| Disposal of property, plant and equipment | $5.2m | $2.3m | $1.3m | — | — | — | $0 | $0 | ($7.3m) | $300k | |
| Payments to Acquire Property, Plant, and Equipment | — | — | — | — | $58.2m | — | ($87.0m) | ($71.4m) | ($106.7m) | ($113.9m) | |
| Proceeds from the sale of property, plant and equipment | $5.2m | $2.3m | $1.3m | — | — | — | $0 | $1.2m | $12.0m | $2.3m | |
| Purchases of property, plant and equipment | ($59.0m) | ($101.1m) | ($166.1m) | ($72.1m) | — | ($58.2m) | ($77.7m) | ($61.2m) | ($83.1m) | ($73.2m) | |
| Payments to Acquire Investments | — | — | — | — | — | — | — | — | — | — | |
| Purchases of investments | — | — | — | — | — | — | $0 | $0 | ($11.3m) | $0 | |
| Net Investment Purchase And Sale | — | — | — | — | — | — | $0 | $0 | ($6.3m) | $0 | |
| Purchase Of Investment | — | — | — | — | — | — | $0 | $0 | ($11.3m) | $0 | |
| Proceeds from sale of investments | — | — | — | — | — | — | $0 | $0 | $5.0m | $0 | |
| Sale Of Investment | — | — | — | — | — | — | $0 | $0 | $5.0m | $0 | |
| Other investing activities | $100k | ($1.1m) | ($3.9m) | $3.8m | — | ($700k) | $9.8m | $0 | $0 | ($800k) | |
| Payments for (Proceeds from) Other Investing Activities | — | — | — | — | $700k | — | — | — | — | — | |
| Net Other Investing Changes | — | — | — | — | — | — | ($3.7m) | ($11.6m) | $9.1m | ($7.4m) | |
| Net cash used in investing activities | ($67.9m) | ($227.0m) | ($243.6m) | ($78.0m) | — | ($77.5m) | ($86.0m) | ($81.8m) | ($104.4m) | ($119.0m) | |
| Net Cash Provided by (Used in) Investing Activities | — | — | — | — | ($77.5m) | — | — | — | — | — | |
| Cash flows from financing activities: | |||||||||||
| Debt issuance costs paid | $0 | ($18.8m) | $0 | ($8.3m) | — | ($300k) | ($11.7m) | ($1.3m) | ($21.6m) | $0 | |
| Proceeds from Issuance of Long-term Debt | — | — | — | — | $0 | — | — | — | — | — | |
| Proceeds from long-term debt | $100k | $644.7m | $0 | $568.0m | — | $0 | $0 | $100.0m | $1.8b | $0 | |
| Issuance Of Debt | — | — | — | — | — | — | $645.0m | $100.0m | $1.8b | $0 | |
| Long Term Debt Issuance | — | — | — | — | — | — | $645.0m | $100.0m | $1.8b | $0 | |
| Net Issuance Payments Of Debt | — | — | — | — | — | — | ($31.9m) | ($19.6m) | ($108.4m) | ($123.4m) | |
| Net Long Term Debt Issuance | — | — | — | — | — | — | ($31.9m) | ($19.6m) | ($108.4m) | ($123.4m) | |
| Payments of long-term debt | ($67.3m) | ($676.9m) | ($933.5m) | ($593.1m) | — | ($331.2m) | ($91.0m) | ($119.6m) | ($1.9b) | ($123.4m) | |
| Repayments of Long-term Debt | — | — | — | — | $331.2m | — | — | — | — | — | |
| Long Term Debt Payments | — | — | — | — | — | — | ($676.9m) | ($119.6m) | ($1.9b) | ($123.4m) | |
| Repayment Of Debt | — | — | — | — | — | — | ($676.9m) | ($119.6m) | ($1.9b) | ($123.4m) | |
| Proceeds from Issuance of Common Stock | — | — | — | — | $3.1m | — | — | — | — | — | |
| Common Stock Issuance | — | — | — | — | — | — | $15.9m | $18.7m | $14.9m | $10.4m | |
| Net Common Stock Issuance | — | — | — | — | — | — | ($160.0m) | ($233.0m) | ($161.2m) | ($108.9m) | |
| Payments for Repurchase of Common Stock | — | — | — | — | — | — | — | — | — | — | |
| Common Stock Payments | — | — | — | — | — | — | ($175.9m) | ($251.7m) | ($176.1m) | ($119.3m) | |
| Dividends paid to non-controlling interests | ($38.9m) | ($24.6m) | ($35.2m) | ($28.8m) | — | ($19.0m) | ($26.6m) | ($18.2m) | ($13.0m) | ($6.5m) | |
| Foreign exchange and other non-cash financing (income) expense | — | $57.4m | ($45.5m) | ($16.8m) | — | $46.9m | $33.2m | ($24.8m) | ($44.2m) | ($25.2m) | |
| Other financing activities | ($3.8m) | $3.6m | $5.7m | $1.1m | — | ($6.4m) | ($13.3m) | $13.8m | $17.5m | $8.7m | |
| Proceeds from (Payments for) Other Financing Activities | — | — | — | — | ($6.4m) | — | — | — | — | — | |
| Net Other Financing Charges | — | — | — | — | — | — | ($61.2m) | ($5.7m) | ($17.1m) | ($18.8m) | |
| Net cash used in financing activities | ($110.8m) | ($75.3m) | ($198.9m) | ($59.3m) | — | ($353.8m) | ($148.6m) | ($258.3m) | ($286.7m) | ($251.1m) | |
| Net Cash Provided by (Used in) Financing Activities | — | — | — | — | ($353.8m) | — | — | — | — | — | |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | — | — | $9.8m | — | — | — | — | — | |
| Effect of exchange rate changes on cash and cash equivalents and restricted cash | ($9.4m) | $19.6m | ($12.4m) | $400k | — | $9.8m | ($11.0m) | $1.7m | ($27.7m) | $22.2m | |
| Effect Of Exchange Rate Changes | — | — | — | — | — | — | ($1.5m) | $1.7m | ($27.7m) | $22.2m | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | — | — | — | ($112.5m) | — | — | — | — | — | |
| Net increase (decrease) in cash and cash equivalents and restricted cash | $188.6m | $37.2m | ($141.4m) | $212.0m | — | ($112.5m) | $136.8m | $142.6m | ($39.2m) | $130.2m | |
| Cash and cash equivalents and restricted cash at the beginning of the period | $528.8m | $566.0m | $424.6m | $636.6m | — | $524.1m | $660.9m | $724.0m | $684.8m | $815.0m | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | — | — | $524.1m | — | — | — | — | — | |
| Supplemental disclosure of cash flow information: | |||||||||||
| Change In Cash Supplemental As Reported | — | — | — | — | — | — | ($79.5m) | $142.6m | ($39.2m) | $130.2m | |
| Interest Paid, Excluding Capitalized Interest, Operating Activities | — | — | — | — | $135.7m | — | $118.7m | $155.1m | $132.6m | $120.7m | |
| Interest paid | $198.8m | $198.0m | $157.9m | $150.8m | — | $135.7m | $121.2m | $155.1m | $132.6m | $120.7m | |
| Employee taxes paid from shares withheld | $41.7m | $84.8m | $114.0m | $108.8m | — | $60.4m | $83.0m | ($3.3m) | ($4.7m) | ($21.0m) | |
| Income Taxes Paid, Net | — | — | — | — | $60.4m | — | $117.8m | $110.5m | $122.3m | $111.5m | |
| Income taxes paid | $41.7m | $84.8m | $114.0m | $108.8m | — | $60.4m | $83.0m | $110.5m | $122.3m | $111.5m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.