Company: CVCO
Filing Date: 2025-01-31
Form Type: 10-Q
Source: 0000278166-25-000007
Chunk: 23

Company: CAVCO INDUSTRIES, INC.
Filing Date: 2025-01-31
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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62 22 Applicable income tax benefit (expense) (2)(3)(13)(5)Comprehensive income56,391 36,228 134,892 124,224 Less: comprehensive income attributable to redeemable noncontrolling interest— — — 88 Comprehensive income attributable to Cavco common stockholders$56,391 $36,228 $134,892 $124,136 Net income per share attributable to Cavco common stockholdersBasic$6.97 $4.31 $16.42 $14.47 Diluted$6.90 $4.27 $16.25 $14.34 Weighted average shares outstandingBasic8,096,538 8,358,389 8,203,448 8,561,209 Diluted8,186,814 8,432,471 8,291,647 8,640,288 

See accompanying Notes to Consolidated Financial Statements

2

Table of Contents

CAVCO INDUSTRIES, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Dollars in thousands)

(Unaudited)

Nine Months EndedDecember 28,2024December 30,2023OPERATING ACTIVITIESNet income$134,706 $123,971 Adjustments to reconcile net income to net cash provided by operating activitiesDepreciation and amortization14,304 13,854 Provision for credit losses(874)(121)Deferred income taxes17 (1,861)Stock-based compensation expense6,653 4,698 Non-cash interest income, net(787)(1,230)(Gain) loss on sale or retirement of property, plant and equipment, net(19)186 Gain on investments and sale of loans, net(1,901)(5,958)Changes in operating assets and liabilities, net of acquisitionsAccounts receivable(14,762)18,161 Consumer loans receivable originated(54,155)(74,306)Proceeds from sales of consumer loans receivable4,408 81,752 Principal payments received on consumer loans receivable42,618 5,480 Inventories(1,960)51,182 Prepaid expenses and other current assets4,997 9,909 Commercial loans receivable originated(87,543)(83,509)Principal payments received on commercial loans receivable85,