| VISHAY INTERTECHNOLOGY, INC. | |||||||
| Consolidated Condensed Statements of Cash Flows | |||||||
| (Unaudited - In thousands) | |||||||
| Three fiscal months edned | |||||||
| March 30, 2024 | April 1, 2023 | ||||||
| Operating activities | |||||||
| Net earnings | $ | 31,443 | $ | 112,189 | |||
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||||||
| Depreciation and amortization | 49,527 | 43,301 | |||||
| Gain on disposal of property and equipment | (625 | ) | (64 | ) | |||
| Inventory write-offs for obsolescence | 8,179 | 8,986 | |||||
| Stock compensation expense | 5,344 | 2,965 | |||||
| Deferred income taxes | 4,376 | 7,329 | |||||
| Other | 426 | (2,696 | ) | ||||
| Changes in operating assets and liabilities | (18,459 | ) | (42,117 | ) | |||
| Net cash provided by operating activities | 80,211 | 129,893 | |||||
| Investing activities | |||||||
| Purchase of property and equipment | (53,084 | ) | (45,574 | ) | |||
| Proceeds from sale of property and equipment | 751 | 326 | |||||
| Purchase and deposits for businesses, net of cash acquired | (168,616 | ) | - | ||||
| Purchase of short-term investments | (19,232 | ) | (41 | ) | |||
| Maturity of short-term investments | 17,611 | 121,768 | |||||
| Other investing activities | (1,219 | ) | (892 | ) | |||
| Net cash provided by (used in) investing activities | (223,789 | ) | 75,587 | ||||
| Financing activities | |||||||
| Net proceeds on revolving credit facility | - | 65,000 | |||||
| Dividends paid to common stockholders | (12,542 | ) | (12,810 | ) | |||
| Dividends paid to Class B common stockholders | (1,210 | ) | (1,210 | ) | |||
| Repurchase of common stock held in treasury | (12,538 | ) | (20,173 | ) | |||
| Cash withholding taxes paid when shares withheld for vested equity awards | (4,053 | ) | (3,653 | ) | |||
| Net cash provided by (used in) financing activities | (30,343 | ) | 27,154 | ||||
| Effect of exchange rate changes on cash and cash equivalents | (2,257 | ) | 4,075 | ||||
| Net increase (decrease) in cash and cash equivalents | (176,178 | ) | 236,709 | ||||
| Cash and cash equivalents at beginning of period | 972,719 | 610,825 | |||||
| Cash and cash equivalents at end of period | $ | 796,541 | $ | 847,534 | |||
Vishay Intertechnology Reports First Quarter 2024 Results
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