Company: CVCO
Filing Date: 2025-01-31
Form Type: 10-Q
Source: 0000278166-25-000007
Chunk: 24

Company: CAVCO INDUSTRIES, INC.
Filing Date: 2025-01-31
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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008 87,591 Accounts payable, accrued expenses and other liabilities9,141 (23,695)Net cash provided by operating activities139,851 206,104 INVESTING ACTIVITIESPurchases of property, plant and equipment(15,288)(13,237)Payments for acquisitions, net— (19,702)Proceeds from sale of property, plant and equipment194 4,514 Purchases of investments(21,588)(7,408)Proceeds from sale of investments22,706 9,290 Net cash used in investing activities(13,976)(26,543)FINANCING ACTIVITIESPayments for taxes on stock option exercises and releases of equity awards(3,425)(1,898)Proceeds from exercise of stock options2,130 3,098 Payments on finance leases and other secured financings(261)(442)Payments for common stock repurchases(114,446)(96,781)Distributions to noncontrolling interest— (420)Net cash used in financing activities(116,002)(96,443)Net increase in cash, cash equivalents and restricted cash9,873 83,118 Cash, cash equivalents and restricted cash at beginning of the fiscal year368,753 283,490 Cash, cash equivalents and restricted cash at end of the period$378,626 $366,608 Supplemental disclosures of cash flow informationCash paid for income taxes$34,173 $28,776 Cash paid for interest$30 $612 Supplemental disclosures of noncash activityChange in GNMA loans eligible for repurchase$730 $(3,812)

See accompanying Notes to Consolidated Financial Statements

3

CAVCO INDUSTRIES, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

1. Basis of Presentation

The accompanying unaudited Consolidated Financial Statements of Cavco Industries, Inc. and its subsidiaries (collectively, "we," "us," "our," the "Company" or "Cavco") have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the "SEC") for Quarterly Reports on Form 10-Q and Article 10 of SEC Regulation S-X. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles ("GAAP") have been condensed or omitted pursuant to such rules and regulations. In addition, references