Company: ATMU
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001921963-25-000075
Chunk: 34

Company: Atmus Filtration Technologies Inc.
Filing Date: 2025-05-02
Form: 10-Q
Item: Item 1
Chunk 34
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 in financing activities(17.9)— 

22

Operating Cash Flow

Net cash provided by operating activities was $28.7 million for the three months ended March 31, 2025, an increase of $36.9 million compared to Net cash used in operating activities of $8.2 million for the three months ended March 31, 2024. The increase was driven primarily by lower working capital requirements of $37.0 million, partially offset by lower income from equity method investees of $2.7 million. During the three months ended March 31, 2025, lower working capital requirements resulted in a cash outflow of $22.1 million compared to a cash outflow of $59.1 million for the three months ended March 31, 2024, mainly due to higher trade payables, lower inventory and lower prepaids.

Dividends received from our unconsolidated equity investees were $5.7 million and $9.6 million for the three months ended March 31, 2025 and March 31, 2024, respectively.

Investing Cash Flow

Net cash used in investing activities for the three months ended March 31, 2025 and March 31, 2024 was primarily used for capital expenditures. Our capital expenditures were $12.4 million (of which approximately $3.5 million related to one-time separation costs) and $10.6 million (of which approximately $2.8 million related to one-time separation costs) for the three months ended March 31, 2025 and March 31, 2024, respectively, corresponding to approximately 3.0% and 2.5% of Net sales for the three months ended March 31, 2025 and March 31, 2024, respectively.

Financing Cash Flow

Net cash used in financing activities for the three months ended March 31, 2025 was $17.9 million compared to $0.0 million for the three months ended March 31, 2024. Net cash used in financing activities for the three months ended March 31, 2025 consisted primarily of repurchases of common stock, dividends paid and payments made on our term loan. 

Dividends

We paid dividends of $4.1 million in the first three months of 2025 and none in the first three months of 2024. The first quarter 2025 dividend of $0.05