Company: STGW
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0000876883-25-000009
Chunk: 99

Company: Stagwell Inc
Filing Date: 2025-03-11
Form: 10-K
Item: Item 8
Chunk 99
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controlling Interests and Shareholders’ Equity$3,908,221 $3,767,047  

See Notes to the Audited Consolidated Financial Statements.

58

Table of ContentsSTAGWELL INC. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH FLOWS (amounts in thousands)

 Year Ended December 31,202420232022Cash flows from operating activities:Net income$25,044 $41,642 $50,044 Adjustments to reconcile net income to cash provided by operating activities:Stock-based compensation52,161 57,179 33,152 Depreciation and amortization151,652 142,831 131,273 Amortization of right-of-use lease assets and lease liability interest75,117 76,653 77,368 Impairment and other losses1,715 11,395 122,179 Deferred income taxes(10,686)19,443 (18,241)Adjustment to deferred acquisition consideration23,005 13,060 (13,405)Gain on sale of business— (94,505)— Other, net7,622 8,313 (22)Changes in working capital:Accounts receivable8,465 (58,704)37,780 Expenditures billable to clients(54,350)(21,477)(32,366)Other assets(6,200)1,153 (1,388)Accounts payable24,438 52,837 108,028 Accrued expenses and other liabilities(28,658)(24,647)(22,436)Advance billings(22,651)(41,137)(27,062)Current portion of lease liabilities - operating leases(83,905)(87,629)(86,525)Deferred acquisition related payments(19,910)(15,400)(10,793)Net cash provided by operating activities142,859 81,007 347,586 Cash flows from investing activities:Capital expenditures(18,912)(14,238)(22,663)Acquisitions, net of cash acquired(103,254)(23,339)(74,234)Capitalized software(35,094)(28,175)(12,774)Proceeds from sale of business, net— 229,484 — Other(5,212)(7,781)(6,604)Net cash (used in) provided