← HAWKINS INC
| Annual Trend | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | |||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Net Income (Loss) Attributable to Parent | $22.6m | ($9.2m) | $24.4m | $28.4m | $41.0m | $51.5m | $60.0m | $75.4m | $84.3m | $81.5m | |
| Depreciation, Depletion and Amortization | $20.9m | $22.4m | $21.8m | $21.6m | $22.7m | $24.1m | $27.4m | $31.8m | $39.9m | $52.5m | |
| Amortization of Debt Issuance Costs | $136k | $136k | $122k | — | — | — | — | — | — | — | |
| Amortization of Debt Issuance Costs and Discounts | $100k | — | — | — | — | — | — | — | — | — | |
| Amortization of Intangible Assets | $6.1m | $5.7m | $5.5m | — | $5.8m | $6.5m | $6.9m | $8.5m | $12.8m | $21.3m | |
| Depreciation | $20.9m | $22.4m | $21.8m | $21.6m | $16.8m | $17.7m | $20.5m | $23.3m | $27.2m | $31.3m | |
| Deferred Income Tax Expense (Benefit) | ($525k) | ($14.8m) | ($607k) | — | ($689k) | ($1.5m) | ($232k) | ($1.5m) | $461k | $3.1m | |
| Deferred income taxes | ($525k) | ($14.8m) | ($607k) | ($1.4m) | ($689k) | ($1.5m) | ($232k) | ($1.5m) | $461k | $3.1m | |
| Share-based Payment Arrangement, Noncash Expense | $2.1m | $1.4m | $2.0m | — | $3.3m | $3.8m | $3.8m | $4.9m | $6.5m | $8.6m | |
| Goodwill, Impairment Loss | $0 | $39.1m | $0 | — | — | — | — | — | — | $0 | |
| Stock compensation expense | $2.1m | $1.4m | $2.0m | $2.3m | $3.3m | $3.8m | $3.8m | $4.9m | $6.5m | $8.6m | |
| Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property | ($322k) | $46k | ($415k) | — | ($203k) | ($545k) | ($87k) | — | — | — | |
| Gain (Loss) on Disposition of Other Assets | — | — | — | — | — | — | $3.0m | $85k | $61k | $202k | |
| Income Tax Expense (Benefit) | $13.5m | ($5.9m) | $9.1m | — | $14.9m | $18.4m | $22.5m | $25.8m | $30.0m | $27.8m | |
| Operating Lease, Expense | — | — | — | — | — | $2.9m | $3.1m | $4.0m | $4.6m | $5.2m | |
| Other Nonoperating Income (Expense) | — | $91k | $73k | — | $1.4m | $189k | ($334k) | $1.4m | $641k | $1.6m | |
| Operating leases | — | $0 | $0 | $2.0m | $1.9m | $1.9m | $2.0m | $2.7m | $3.5m | $4.0m | |
| Changes in operating assets and liabilities: | |||||||||||
| Additional Financial Items | |||||||||||
| Increase (Decrease) in Accounts Receivable | ($2.3m) | $6.2m | $487k | — | $21.3m | $30.5m | $6.4m | ($21.4m) | $11.2m | $2.5m | |
| Increase (Decrease) in Inventories | $3.5m | $8.5m | $746k | — | $8.0m | $30.0m | ($4.7m) | ($19.9m) | $6.6m | ($10.1m) | |
| Increase (Decrease) in Accounts Payable | $562k | $4.2m | ($4.1m) | — | $2.6m | $25.1m | ($11.6m) | ($828k) | $2.4m | ($5.8m) | |
| Asset Acquisition Contingent Consideration Liability | — | — | — | — | — | — | — | $11.2m | $12.6m | — | |
| Environmental Remediation Expense | — | $600k | $600k | — | — | — | — | — | — | — | |
| Gain (Loss) on Investments | — | — | — | — | — | $189k | ($334k) | $1.4m | $641k | $1.6m | |
| Goodwill | $97.6m | $58.4m | $58.4m | — | $70.7m | $77.4m | $77.4m | $103.4m | $135.4m | $223.0m | |
| Proceeds from Stock Options Exercised | — | — | — | — | — | — | — | — | — | — | |
| Unrealized Gain (Loss) on Derivatives | — | — | — | — | — | $1.3m | $1.6m | $175k | ($1.4m) | ($800k) | |
| Change in fair value of earnout liability | — | — | — | — | — | $0 | $0 | $571k | $1.4m | ($6.2m) | |
| Gain on deferred compensation assets | $0 | ($92k) | ($73k) | $233k | ($1.4m) | ($189k) | $334k | ($1.4m) | ($641k) | ($1.6m) | |
| Gain from asset disposals | — | — | — | — | $110k | $452k | ($3.0m) | ($85k) | ($61k) | ($202k) | |
| Other, net | — | — | — | — | — | ($93k) | ($87k) | ($87k) | ($87k) | $147k | |
| Trade receivables | $2.3m | ($6.2m) | ($487k) | ($3.4m) | ($21.3m) | ($30.5m) | ($6.4m) | $21.4m | ($11.2m) | ($2.5m) | |
| Inventories | ($3.5m) | ($8.5m) | ($746k) | $6.0m | ($8.0m) | ($30.0m) | $4.7m | $19.9m | ($6.6m) | $10.1m | |
| Accounts payable | $562k | $4.2m | ($4.1m) | $4.2m | $2.6m | $25.1m | ($11.6m) | ($828k) | $2.4m | ($5.8m) | |
| Accrued liabilities | ($416k) | $1.7m | $4.8m | $663k | $7.6m | $2.7m | ($737k) | $10.7m | $476k | $2.2m | |
| Lease liabilities | — | $0 | $0 | $2.0m | $1.8m | $1.9m | $2.0m | $2.7m | $3.5m | $3.8m | |
| Income taxes | $569k | ($1.7m) | $2.1m | $586k | ($235k) | $214k | $3.3m | ($1.4m) | ($4.8m) | $2.1m | |
| Acquisitions | ($2.2m) | $0 | $0 | $0 | ($51.0m) | ($21.5m) | $0 | ($83.5m) | ($87.4m) | ($167.1m) | |
| Proceeds from asset disposals | $324k | $364k | $275k | $346k | $362k | $302k | $7.1m | $1.1m | $544k | $1.2m | |
| ESPP shares issued | $1.3m | $1.4m | $1.3m | $1.4m | $1.6m | $1.8m | $2.0m | $2.2m | $2.7m | $3.0m | |
| Shares surrendered for payroll taxes | ($631k) | $0 | ($266k) | ($343k) | ($54k) | ($1.5m) | ($1.6m) | ($2.1m) | ($2.5m) | ($3.0m) | |
| Shares repurchased | $0 | $0 | ($4.4m) | ($5.9m) | ($4.1m) | ($8.5m) | ($6.6m) | ($11.3m) | ($20.7m) | $0 | |
| Payments on senior secured revolving loan | ($21.0m) | ($21.0m) | ($24.0m) | ($44.0m) | ($37.0m) | ($15.0m) | ($59.0m) | ($98.0m) | ($60.0m) | ($75.0m) | |
| Borrowings on senior secured revolving loan | $0 | $27.0m | $93.0m | $19.0m | $76.0m | $42.0m | $45.0m | $85.0m | $110.0m | $170.0m | |
| Noncash investing activities - Capital expenditures in accounts payable | $958k | $468k | $495k | $1.0m | $626k | $3.7m | $2.3m | $2.7m | $1.8m | $2.5m | |
| Net Cash Provided by (Used in) Operating Activities | $44.9m | $27.3m | $48.0m | $58.9m | $43.8m | $42.8m | $77.4m | $159.5m | $111.1m | $144.3m | |
| Cash flows from investing activities: | |||||||||||
| Payments to Acquire Property, Plant, and Equipment | $21.6m | $19.7m | $12.6m | ($24.5m) | $20.8m | $28.5m | $48.3m | $40.2m | $41.1m | $58.2m | |
| Payments to Acquire Businesses, Net of Cash Acquired | $2.2m | $0 | — | — | $51.0m | $21.5m | $0 | $83.5m | $87.4m | $167.1m | |
| Payments to Acquire Investments | $0 | — | — | — | — | — | — | — | — | — | |
| Gain (Loss) on Sale of Investments | $0 | — | — | — | — | — | — | — | — | — | |
| Net Cash Provided by (Used in) Investing Activities | ($23.5m) | ($19.3m) | ($12.3m) | ($24.2m) | ($71.4m) | ($49.8m) | ($41.2m) | ($122.5m) | ($128.0m) | ($224.1m) | |
| Cash flows from financing activities: | |||||||||||
| Payments for debt issuance costs | $0 | $0 | ($183k) | $0 | $0 | ($287k) | $0 | $0 | $0 | ($764k) | |
| Proceeds from Issuance of Common Stock | $1.3m | $1.4m | $1.3m | — | $1.6m | $1.8m | $2.0m | $2.2m | $2.7m | $3.0m | |
| Payments of Ordinary Dividends, Common Stock | $9 | $9 | $12 | — | $10 | $11 | $12 | $13 | $15 | $16 | |
| Dividends Payable, Current | $4 | $5 | — | — | — | — | — | — | — | — | |
| Cash dividends paid | ($9) | ($9) | ($12) | ($10) | ($10) | ($11) | ($12) | ($13) | ($15) | ($16) | |
| Net Cash Provided by (Used in) Financing Activities | ($34.5m) | ($9.9m) | ($31.4m) | ($39.6m) | $26.4m | $7.4m | ($32.1m) | ($37.4m) | $14.8m | $78.6m | |
| NET DECREASE IN CASH AND CASH EQUIVALENTS | ($4.9m) | ($1.3m) | $498k | $4.1m | ($413k) | ($2.0m) | ($1.2m) | ||||
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | — | — | — | $3.5m | $7.6m | $7.2m | $5.1m | $3.9m | |
| CASH AND CASH EQUIVALENTS - beginning of year | $20.0m | $6.9m | $5.0m | $9.2m | $4.3m | $3.5m | $7.6m | $7.2m | $5.1m | $3.9m | |
| Supplemental disclosure of cash flow information: | |||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | $2.3m | $3.0m | $3.2m | $2.4m | $1.3m | $1.2m | $4.8m | $4.7m | $5.8m | $13.7m | |
| Income Taxes Paid, Net | $13.4m | $10.2m | $7.6m | $11.4m | $15.8m | $19.7m | $19.5m | $28.6m | $34.4m | $22.7m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.