Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Hubbell Inc., consolidated cash flow statement

US$ in thousands

12 months ended:	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Net income from continuing operations	516,800)	371,100)	356,000)	407,400)	366,100)
Depreciation and amortization	148,500)	149,100)	157,600)	151,000)	148,400)
Deferred income taxes	(27,800)	9,200)	3,300)	6,100)	49,000)
Stock-based compensation	24,500)	17,500)	23,900)	16,400)	24,200)
Provision for bad debt expense	7,400)	1,300)	6,700)	1,700)	—)
(Gain) loss on disposition of business	—)	6,900)	—)	(21,700)	—)
Loss on extinguishment of debt	—)	16,800)	—)	—)	—)
Pension charge	7,000)	—)	7,600)	8,500)	—)
(Gain) loss on sale of assets	3,500)	(4,700)	300)	(400)	(4,000)
(Increase) decrease in accounts receivable	(74,200)	(124,800)	55,500)	44,500)	(75,400)
(Increase) decrease in inventories	(66,500)	(138,900)	50,700)	12,200)	34,200)
Increase (decrease) in accounts payable	(15,300)	195,100)	22,600)	(41,200)	21,500)
Increase (decrease) in current liabilities	108,300)	27,600)	(39,900)	5,000)	(5,900)
Changes in other assets and liabilities, net	13,200)	(14,900)	19,200)	900)	(20,400)
Changes in assets and liabilities, net of acquisitions	(34,500)	(55,900)	108,100)	21,400)	(46,000)
Contributions to qualified defined benefit pension plans	(12,500)	(100)	(23,200)	(10,400)	(27,900)
Other, net	3,300)	2,500)	7,700)	11,600)	7,300)
Adjustments to reconcile net income from continuing operations to net cash provided by operating activities, net of acquisitions	119,400)	142,600)	292,000)	184,200)	151,000)
Net cash provided by operating activities	636,200)	513,700)	648,000)	591,600)	517,100)
Capital expenditures	(129,300)	(90,200)	(88,400)	(93,900)	(96,200)
Acquisitions, net of cash acquired	(177,100)	100)	(239,600)	(70,800)	(1,118,000)
Proceeds from disposal of business, net of cash	332,800)	8,500)	—)	33,400)	—)
Purchases of available-for-sale investments	(33,700)	(11,400)	(35,100)	(14,100)	(16,600)
Proceeds from sales of available-for-sale investments	23,000)	11,500)	28,900)	12,500)	20,500)
Other, net	2,400)	9,400)	5,400)	4,000)	8,900)
Net cash (used in) provided by investing activities	18,100)	(72,100)	(328,800)	(128,900)	(1,201,400)
Issuance of long-term debt	—)	298,700)	225,000)	—)	947,500)
Payment of long-term debt	—)	(300,000)	(331,300)	(225,000)	(168,800)
Issuance of short-term debt	—)	8,100)	125,500)	700)	800)
Payment of short-term debt	(4,800)	(151,600)	(3,600)	(800)	(38,000)
Payment of dividends	(229,600)	(216,900)	(201,400)	(186,600)	(172,300)
Make whole payment for retirement of long-term debt	—)	(16,000)	—)	—)	—)
Debt issuance cost	—)	(4,500)	—)	—)	(7,600)
Acquisition of common shares	(182,000)	(11,200)	(41,300)	(35,000)	(40,000)
Other	(20,700)	(39,600)	(17,100)	(24,300)	(15,100)
Net cash provided by (used in) financing activities	(437,100)	(433,000)	(244,200)	(471,000)	506,500)
Cash provided by (used in) operating activities	(53,000)	30,100)	—)	—)	—)
Cash used in investing activities	(1,700)	(5,700)	—)	—)	—)
Cash provided by (used in) discontinued operations	(54,700)	24,400)	—)	—)	—)
Effect of foreign currency exchange rate changes on cash and cash equivalents	(8,800)	(3,000)	2,600)	1,300)	(8,200)
Increase (decrease) in cash, cash equivalents, and restricted cash	153,700)	30,000)	77,600)	(7,000)	(186,000)
Cash and cash equivalents, beginning of year	286,200)	258,600)	182,000)	189,000)	375,000)
Cash and cash equivalents within assets held for sale, beginning of year	700)	1,000)	—)	—)	—)
Restricted cash, included in other assets, beginning of year	2,700)	—)	—)	—)	—)
Restricted cash, included in Other assets	(2,800)	(2,700)	—)	—)	—)
Cash and cash equivalents within assets held for sale, end of year	—)	(700)	—)	—)	—)
Cash and cash equivalents, end of year	440,500)	286,200)	259,600)	182,000)	189,000)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

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Cash flow statement item	Description	The company
Net cash provided by operating activities	Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.	Hubbell Inc. net cash provided by operating activities decreased from 2020 to 2021 but then increased from 2021 to 2022 not reaching 2020 level.
Net cash (used in) provided by investing activities	Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.	Hubbell Inc. net cash (used in) provided by investing activities increased from 2020 to 2021 and from 2021 to 2022.
Net cash provided by (used in) financing activities	Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.	Hubbell Inc. net cash provided by (used in) financing activities decreased from 2020 to 2021 and from 2021 to 2022.

Hubbell Inc. (NYSE:HUBB)

Cash Flow Statement