Company: SSUP
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0000950170-25-034599
Chunk: 64

Company: SUPERIOR INDUSTRIES INTERNATIONAL INC
Filing Date: 2025-03-06
Form: 10-K
Item: Item 1B
Chunk 64
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 )

    (34,230
    )

    Effect of exchange rate changes on cash

    (3,187
    )

    3,990

    Net changes in cash and cash equivalents
     
    $
    (161,496
    )
     
    $
    (11,416
    )

Operating Activities 

Net cash provided by operating activities was $18.3 million in 2024 compared to net cash provided by operating activities of $64.4 million for 2023. The $46.1 million decrease in cash flow provided by operating activities was primarily driven by lower earnings after taking into account the effect of the loss on deconsolidation of subsidiary in 2023 and changes in working capital. 

Investing Activities 

Net cash used in investing activities was $28.2 million in 2024 compared to net cash used in investing activities of $45.6 million in 2023. The $17.4 million decrease in cash used in investing activities was primarily due to lower capital expenditures and the deconsolidation of subsidiary cash in 2023. 

Financing Activities 

Net cash used in financing activities was $148.3 million in 2024 compared to net cash used by financing activities of $34.2 million in 2023. This increase was primarily due to an increase in debt repayments on term loans and notes of $451.2 million, an increase in financing costs paid of $8.8 million, and a redemption premium paid on term loan repayment of $3.7 million, which was partially offset by proceeds from issuance of long-term debt of $337.3 million and a decrease in cash dividends paid as preferred stock dividends of $10.1 million were paid-in-kind during 2024.

NON-GAAP FINANCIAL MEASURES

In this Annual Report, we discuss three important measures that are not calculated according to U.S. GAAP, value added sales, value added sales adjusted for foreign exchange and adjusted EBITDA. 

Value added sales represents net sales less the value of aluminum and other costs, as well as outsourced service provider (“OSPs”) costs that are included in net sales. Contractual arrangements with our customers allow us to pass on changes in aluminum and certain other costs. Value added sales adjusted for foreign exchange represents value added sales on a constant currency basis. For entities reporting in currencies other than the U.S. dollar, the current period amounts are translated using the prior year comparative period exchange rates, rather than the actual