Company: CNDT
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001677703-25-000029
Chunk: 72

Company: CONDUENT Inc
Filing Date: 2025-02-19
Form: 10-K
Item: Item 7
Chunk 72
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 accompanying Consolidated Financial Statements:

 Year Ended December 31,Change(in millions)202420232024 vs. 2023Net cash provided by (used in) operating activities$(50)$89 $(139)Net cash provided by (used in) investing activities795 (93)888 Net cash provided by (used in) financing activities(877)(81)(796)

Operating Activities 

The net decrease in cash flow provided by operating activities of $139 million was primarily related to lower Adjusted EBITDA due to divestitures and higher cash taxes, partially offset by improved accounts receivable Days Sales Outstanding and lower cash interest expense.

Investing Activities

The increase in cash provided by investing activities of $888 million was primarily due to the proceeds from our 2024 divestitures of $830 million and proceeds from the settlement of the Skyview matter related to notes receivable of $21 million. In addition, there was a planned decrease in capital spending in the current year.

Financing Activities 

The increase in cash used in financing activities was mainly driven by the $642 million early repayment of Term Loan B and Term Loan A utilizing funds received from our divestitures. In addition, $132 million was utilized to purchase all of the common shares owned by the Icahn Parties. 

Sales of Accounts Receivable

The net impact from the sales of accounts receivable on net cash provided by (used in) operating activities for the years ended December 31, 2024, 2023 and 2022 was $7 million, $(4) million and $54 million, respectively. The net impact from the sales of accounts receivable represents the difference between current and prior year fourth quarter accounts receivable sales adjusted for the effects of collections prior to the end of the year.

Financial Instruments

Refer to Note 11 – Financial Instruments to the Consolidated Financial Statements for additional information.

CNDT 2024 Annual Report41

Material Cash Requirements from Contractual Obligations

We believe our balances of cash and cash equivalents, which totaled $366 million as of December 31, 2024, along with cash generated by operations and amounts available for borrowing under our Revolving Credit Facility, will be sufficient to satisfy our cash requirements over the next 12 months and beyond.

At December 31, 2024, our material cash requirements include the following contractual and other obligations.

Debt

As of December 31, 2024, we had total outstanding debt, including Finance leases, with floating