Company: HGBL
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0000950170-25-038691
Chunk: 112

Company: Heritage Global Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 1B
Chunk 112
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    Cash flows from operating activities:

    Net income
     
    $
    5,182

    $
    12,475

    Adjustments to reconcile net income to net cash provided by operating   activities:

    Amortization of deferred issuance costs and fees, net

    (90
    )

    (273
    )

    Earnings of equity method investments

    (2,688
    )

    (1,059
    )

    Noncash credit loss (recovery) expense

    (267
    )

    530

    Amortization of right-of-use assets

    657

    642

    Depreciation and amortization

    591

    514

    Deferred taxes

    3,107

    418

    Stock-based compensation expense

    1,253

    776

    Changes in operating assets and liabilities:

    Accounts receivable

    351

    (931
    )

    Inventory – equipment

    (274
    )

    (455
    )

    Other assets

    (605
    )

    662

    Accounts payable and accrued liabilities

    (1,257
    )

    (1,440
    )

    Payables to sellers

    2,442

    1,787

    Lease liabilities

    (657
    )

    (625
    )

    Net cash provided by operating activities

    7,745

    13,021

    Cash flows from investing activities:

    Investment in notes receivable

    (5,675
    )

    (29,826
    )

    Payments received on notes receivable

    11,041

    11,876

    Investment in equity method investments

    (343
    )

    (17,224
    )

    Return of investment in equity method investments

    3,299

    9,652

    Cash distributions from equity method investments

    2,688

    1,059

    Purchase of property and equipment

    (137
    )

    (257
    )

    Cash received on transfer of notes receivable to partners

    —

    8,851

    Net cash provided by (used in) investing activities

    10,873

    (15,869
    )

    Cash flows from financing activities:

    Proceeds from debt payable to third parties

    —

    13,