Company: JBI
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001839839-25-000032
Chunk: 130

Company: Janus International Group, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 130
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Net cash provided by operating activities

Net cash provided by operating activities decreased by $61.0, or 28.4%, to $154.0 for the year ended December 28, 2024, compared to $215.0 for the year ended December 30, 2023. This decline was primarily driven by a $15.9 reduction in net cash activity from net working capital requirements, reflecting higher inventory levels and timing of receivables and payables. Additionally, a $45.1 decrease in net income adjusted for non-cash items contributed to the overall decline in operating cash flows. 

Net cash used in investing activities

Net cash used in investing activities increased by $53.2 or 267.3% for the year ended December 28, 2024, compared to the prior year. This increase was primarily due to the T.M.C. Acquisition, which resulted in $59.4 of cash outflows, partially offset by higher proceeds from sale of property, plant, and equipment during the year ended December 28, 2024, compared to the prior year.

Net cash used in financing activities

Net cash used in financing activities increased slightly by $0.6 or 0.6% for the year ended December 28, 2024, compared to the prior year. This was driven by debt payments, net of debt proceeds, of $24.9 during the year, compared to $90.9 in the prior year. The decrease in net borrowings was partially offset by share repurchases of $78.8. See Note 10, Long-term Debt, to our consolidated financial statements for additional discussion of the financing transactions.

Capital allocation strategy

We continually assess our capital allocation strategy, including but not limited to decisions relating to mergers and acquisitions, share repurchases, capital expenditures, and debt pay-downs. 

Contractual Obligations

The table below summarizes our approximate contractual obligations as of December 28, 2024 and their expected impact on our liquidity and cash flows in future periods:

(dollar amounts in millions)TotalLess than 1 year 1-3 years 3-5 years ThereafterNotes payable - First Lien$598.5 $7.5 $12.0 $12.0 $567.0 Finance lease obligations3.4 $1.4 $1.6 $0.4 $— Unconditional purchase obligations (1) 6.