← Quad/Graphics, Inc.
| 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 | $44.9m | $107.2m | $8.5m | ($156.3m) | ($128.3m) | $37.8m | — | — | — | — | |
| Net Income (Loss) Available to Common Stockholders, Basic | $44.9m | — | — | — | — | — | — | — | — | — | |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $44.9m | — | $7.9m | ($156.3m) | ($128.5m) | $37.8m | $9.3m | ($55.4m) | ($50.9m) | $27.0m | |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | — | — | — | ($55.7m) | ($106.4m) | $37.8m | — | — | — | — | |
| Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | — | — | — | ($55.7m) | ($106.6m) | $37.8m | $9.3m | ($55.4m) | ($50.9m) | $27.0m | |
| Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | — | — | — | ($100.6m) | ($21.9m) | $0 | — | — | — | — | |
| Net Income (Loss) Attributable to Noncontrolling Interest | $0 | — | ($600k) | $0 | ($200k) | $0 | — | — | — | — | |
| Depreciation and amortization | $277.1m | $232.5m | $230.7m | $209.5m | $181.6m | $157.3m | $141.3m | $128.8m | $102.5m | $78.6m | |
| Amortization of Debt Issuance Costs | $3.8m | $3.1m | $3.1m | $2.7m | $2.5m | $2.6m | $2.2m | $2.0m | $1.6m | $1.6m | |
| Amortization of Debt Issuance Costs and Discounts | $4.2m | $3.5m | $3.5m | $3.6m | $2.6m | $3.0m | $2.2m | $2.0m | $1.6m | $1.6m | |
| Amortization of Intangible Assets | $50.7m | $18.3m | $34.4m | $44.8m | $39.1m | $31.5m | $30.9m | $27.9m | $17.5m | $5.2m | |
| Depreciation | $226.4m | $214.2m | $196.3m | $164.7m | $142.5m | $125.8m | $110.4m | $100.9m | $85.0m | $73.4m | |
| Deferred Income Tax Expense (Benefit) | ($26.6m) | ($22.5m) | ($14.5m) | ($57.1m) | $48.5m | $5.3m | $2.4m | ($3.7m) | ($2.0m) | $600k | |
| Share-based Payment Arrangement, Noncash Expense | $15.2m | $16.4m | $15.6m | $13.6m | $10.6m | $6.2m | $6.0m | $5.6m | $7.3m | $6.6m | |
| Payment, Tax Withholding, Share-based Payment Arrangement | $1.4m | $6.0m | $9.0m | $6.6m | $1.0m | $1.1m | $2.5m | $1.7m | $2.1m | $3.6m | |
| Equity Method Investment, Other than Temporary Impairment | — | — | — | — | — | $32.1m | — | — | — | — | |
| Goodwill, Impairment Loss | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Impairment of Intangible Assets (Excluding Goodwill) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Equity Method Investment, Realized Gain (Loss) on Disposal | $0 | $0 | — | — | — | — | — | — | — | — | |
| Gain (Loss) on Disposition of Business | — | ($7.7m) | $0 | $8.4m | ($3.5m) | $20.9m | ($23.1m) | $0 | — | ($500k) | |
| Gain (Loss) on Disposition of Property Plant Equipment | $9.0m | $6.9m | $17.8m | $6.6m | $1.8m | $49.0m | $2.3m | $10.9m | $22.5m | $20.7m | |
| Gain (Loss) on Extinguishment of Debt | $14.1m | ($2.6m) | $0 | ($30.5m) | ($1.8m) | ($700k) | $0 | — | — | — | |
| Income (Loss) from Equity Method Investments | ($1.4m) | $0 | $1.0m | ($300k) | ($200k) | $300k | $0 | — | — | — | |
| Income Tax Expense (Benefit) | $13.0m | ($16.0m) | ($9.8m) | ($24.4m) | $300k | $9.5m | $8.4m | $12.8m | $6.4m | $5.5m | |
| Operating Lease, Expense | — | — | — | $42.6m | $32.6m | $28.4m | $29.7m | — | — | — | |
| Changes in operating assets and liabilities: | |||||||||||
| Additional Financial Items | |||||||||||
| Increase (Decrease) in Inventories | ($12.7m) | ($13.1m) | $54.3m | ($61.3m) | ($45.8m) | $58.3m | $41.1m | ($90.3m) | ($2.4m) | ($24.0m) | |
| Foreign Currency Transaction Gain (Loss), before Tax | ($6.0m) | $1.5m | ($1.6m) | $1.2m | ($2.0m) | ($2.9m) | ($2.1m) | $4.4m | ($6.4m) | $4.3m | |
| Gain (Loss) on Sale of Properties | — | — | $17.3m | ($8.4m) | — | $20.9m | — | — | — | — | |
| Goodwill | $0 | $0 | $54.6m | $103.0m | $103.0m | $86.4m | $86.4m | $103.0m | $100.3m | $107.6m | |
| Insured Event, Gain (Loss) | — | $5.0m | $18.3m | $800k | $4.7m | $13.4m | $0 | — | — | — | |
| Payments of Financing Costs | $100k | — | $0 | — | — | — | $0 | $0 | — | $100k | |
| Proceeds from Stock Options Exercised | — | $2.6m | $4.2m | $0 | — | — | — | — | — | — | |
| Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement | — | — | — | — | $0 | ($900k) | $0 | — | $0 | ($12.8m) | |
| Net Cash Provided by (Used in) Operating Activities | $352.5m | $344.0m | $260.6m | $155.5m | $190.2m | $136.5m | $154.6m | $147.6m | $112.9m | $95.9m | |
| Cash flows from investing activities: | |||||||||||
| Payments to Acquire Property, Plant, and Equipment | $106.1m | $85.9m | $96.3m | $111.0m | $61.0m | $50.0m | $60.3m | $70.8m | $57.2m | $45.2m | |
| Payments to Acquire Businesses, Net of Cash Acquired | $0 | $0 | $71.4m | $121.0m | $2.2m | $0 | $2.6m | $1.5m | $0 | $16.3m | |
| Gain (Loss) on Sale of Investments | — | — | — | — | — | — | — | — | $4.1m | $0 | |
| Payments for (Proceeds from) Other Investing Activities | ($21.7m) | ($34.5m) | ($47.2m) | ($23.9m) | $100k | $200k | ($1.1m) | $4.5m | $1.2m | $2.7m | |
| Net Cash Provided by (Used in) Investing Activities | ($84.4m) | ($37.3m) | ($120.5m) | ($208.1m) | $9.7m | $129.4m | ($60.5m) | ($46.4m) | $12.7m | ($27.7m) | |
| Cash flows from financing activities: | |||||||||||
| Proceeds from Issuance of Long-term Debt | $19.7m | $375.0m | $7.8m | $1.3b | $1.0m | $15.9m | $3.1m | $600k | $53.1m | $20.0m | |
| Proceeds from Issuance of Common Stock | $30.3m | — | — | — | — | — | — | — | — | — | |
| Payments for Repurchase of Common Stock | $8.8m | $3.8m | $36.7m | $0 | — | — | $10.0m | $12.6m | $0 | $8.0m | |
| Dividends paid | $61.1m | $62.5m | $62.9m | $57.1m | $9.5m | $1.4m | $1.4m | $100k | $9.4m | $14.4m | |
| Proceeds from (Payments for) Other Financing Activities | $28.5m | ($4.3m) | $0 | ($5.3m) | ($2.6m) | ($8.6m) | ($600k) | ($600k) | ($200k) | $0 | |
| Net Cash Provided by (Used in) Financing Activities | ($269.3m) | ($251.7m) | ($133.5m) | $61.8m | ($223.6m) | ($140.9m) | ($248.7m) | ($73.6m) | ($149.1m) | ($36.1m) | |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | ($600k) | $300k | ($1.5m) | $0 | $200k | ($300k) | ($100k) | $100k | ($200k) | $300k | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | ($600k) | $300k | ($1.5m) | $0 | ($23.5m) | $124.7m | ($154.7m) | $27.7m | ($23.7m) | $32.4m | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | — | — | $55.2m | $179.9m | $25.2m | $52.9m | $29.2m | $63.3m | |
| Supplemental disclosure of cash flow information: | |||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | $65.9m | $57.8m | $60.5m | $77.1m | $52.3m | $41.8m | $44.0m | $55.9m | $52.9m | $40.2m | |
| Income Taxes Paid, Net | $34.0m | $6.5m | $12.5m | $9.2m | $2.7m | $4.3m | $6.2m | $12.2m | $10.7m | $3.8m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.