Company: MATV
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001000623-25-000024
Chunk: 3

Company: Mativ Holdings, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 1
Chunk 3
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— — (5.7)— (5.7)Issuances of common stock under stock-based compensation plan183,866 0.1 — — — 0.1 Stock-based employee compensation expense— — 3.6 — — 3.6 Stock issued to directors as compensation8,598 — 0.2 — — 0.2 Deferred compensation directors stock trust46,303 — — — — — Shares withheld for employee taxes— — (1.1)— — (1.1)Balance, March 31, 202554,574,597 $5.5 $678.4 $(266.9)$11.2 $428.2 (1)Includes the impact of the equity-to-liability modification of certain restricted stock awards.

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

5

MATIV HOLDINGS, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(in millions)(Unaudited)

 Three Months EndedMarch 31, 20252024Operating  Net loss$(425.5)$(28.0)Adjustments to reconcile Net loss to Net cash used in operations:  Depreciation and amortization35.3 36.3 Amortization of deferred issuance costs2.0 2.0 Goodwill impairment411.9 — Other impairments5.3 — Deferred income tax(27.3)(9.4)Pension and other postretirement benefits(0.5)(1.4)Stock-based compensation3.6 2.7 (Gain) loss on foreign currency transactions1.8 (0.7)Other non-cash items0.2 (1.2)Other operating(0.6)(0.6)Changes in operating working capital, net of assets acquired:Accounts receivable(43.3)(49.3)Inventories10.8 9.0 Prepaid expenses(4.0)(6.7)Accounts payable and other current liabilities12.8 27.0 Accrued income taxes1.6 7.3 Net changes in operating working capital(22.1)(12.7)Net cash used in operations(15.9)(13.0