TransDigm Group Incorporated (TDG) FY2024 Annual Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2023-10-01 to 2024-09-30

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TransDigm Group Incorporated cash flow reconciliation, Oct 1, 2023 through Sep 30, 2024One connected Sankey reconciles operating, investing and financing net cash flows through a shared cash pool, from beginning cash to ending cash. Ribbons flow left to right on one dollar scale. Activity totals are dark gray; beginning and ending cash are blue. Cash basis for beginning and ending balances and net cash change: Cash, cash equivalents, and restricted cash. Intermediate calculation bars are lighter gray. Net income is green for profit and red for loss. Identified asset purchases, sales and maturities are blue in either cash direction. Purple identifies capital transactions such as borrowing, repayments, share issuance and dividends. Free cash flow is a separate comparison, not an added cash flow. Read chart description and values below for full signed amounts, including zero items.Net income → Net cash from operating activities: $1,715,000,000.00Non-cash stock and deferred compensation expense → Operating adjustments reconciliation: $217,000,000.00Amortization of intangible assets and product certification costs → Operating adjustments reconciliation: $163,000,000.00Depreciation → Operating adjustments reconciliation: $149,000,000.00Accrued interest → Operating adjustments reconciliation: $60,000,000.00Refinancing costs → Operating adjustments reconciliation: $58,000,000.00Amortization of debt issuance costs, original issue discount and premium → Operating adjustments reconciliation: $40,000,000.00Amortization of inventory step-up → Operating adjustments reconciliation: $21,000,000.00Foreign currency exchange losses (gains) → Operating adjustments reconciliation: $20,000,000.00Deferred income taxes → Operating adjustments reconciliation: $10,000,000.00Operating adjustments reconciliation → Net cash from operating activities: $330,000,000.00Operating adjustments reconciliation → Inventories: $104,000,000.00Operating adjustments reconciliation → Trade accounts receivable: $84,000,000.00Operating adjustments reconciliation → Income taxes (receivable) payable: $62,000,000.00Operating adjustments reconciliation → Other assets: $60,000,000.00Operating adjustments reconciliation → Accrued and other liabilities: $41,000,000.00Operating adjustments reconciliation → Amortization of loss contract reserves: $35,000,000.00Operating adjustments reconciliation → Gain on sale of businesses, net: $11,000,000.00Operating adjustments reconciliation → Accounts payable: $11,000,000.00Proceeds from issuance of senior secured notes, net → financing reconciliation: $7,373,000,000.00Proceeds from term loans, net → financing reconciliation: $6,815,000,000.00Proceeds from exercise of stock options → financing reconciliation: $245,000,000.00Proceeds from trade receivable securitization facility, net → financing reconciliation: $137,000,000.00financing reconciliation → Net cash from financing activities: $3,171,000,000.00financing reconciliation → Repayment on term loans: $4,403,000,000.00financing reconciliation → Repayments of senior secured notes: $4,400,000,000.00financing reconciliation → Dividends and dividend equivalent payments: $2,038,000,000.00financing reconciliation → Repayments of senior subordinated notes, net: $550,000,000.00financing reconciliation → Financing costs and other, net: $8,000,000.00Net cash used in investing activities → investing reconciliation: $2,441,000,000.00Other investing transactions → investing reconciliation: $71,000,000.00investing reconciliation → Acquisition of businesses, net of cash acquired: $2,347,000,000.00investing reconciliation → Capital expenditures: $165,000,000.00Exchange-rate effect → Cash sources and uses: $14,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $3,472,000,000.00Net cash from operating activities → Cash sources and uses: $2,045,000,000.00Net cash from financing activities → Cash sources and uses: $3,171,000,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $6,261,000,000.00Cash sources and uses → Net cash used in investing activities: $2,441,000,000.00Gain on sale of businesses, net: -$11,000,000.00Business sale gain & loss−$11.00 MAmortization of intangible assets and product certification costs: $163,000,000.00Intangible & certification amort.+$163.00 MDeferred income taxes: $10,000,000.00Deferred tax balances+$10.00 MNon-cash stock and deferred compensation expense: $217,000,000.00Non-cash stock and deferred compensation expense+$217.00 MAccounts payable: -$11,000,000.00Accounts payable−$11.00 MAmortization of inventory step-up: $21,000,000.00Amortization of inventory step-up+$21.00 MIncome from discontinued operations, net of tax: $0.00Foreign currency exchange losses (gains): $20,000,000.00FX transaction gain & loss+$20.00 MAmortization of loss contract reserves: -$35,000,000.00Amortization of loss contract reserves−$35.00 MAccrued and other liabilities: -$41,000,000.00Accrued liabilities−$41.00 MNet income: $1,715,000,000.00Net income+$1.72 BInventories: -$104,000,000.00Inventories−$104.00 MAccrued interest: $60,000,000.00Accrued interest+$60.00 MRefinancing costs: $58,000,000.00Refinancing costs+$58.00 MTrade accounts receivable: -$84,000,000.00Accounts receivable−$84.00 MIncome taxes (receivable) payable: -$62,000,000.00Income taxes, net−$62.00 MDepreciation: $149,000,000.00Depreciation expense+$149.00 MOther assets: -$60,000,000.00Other operating assets−$60.00 MAmortization of debt issuance costs, original issue discount and premium: $40,000,000.00Debt cost amortization+$40.00 M(Gain) loss on settlement of the Esterline Retirement Plan (the “ERP”): $0.00Cash refund (contribution) for the ERP settlement, net: $0.00Net cash from operating activities: $2,045,000,000.00Operating cash+$2.05 BOperating adjustments reconciliation: $738,000,000.00Dividends and dividend equivalent payments: -$2,038,000,000.00Dividends paid−$2.04 BFinancing costs and other, net: -$8,000,000.00Other financing, net−$8.00 MProceeds from issuance of senior secured notes, net: $7,373,000,000.00Proceeds from issuance of senior secured notes, net+$7.37 BProceeds from term loans, net: $6,815,000,000.00Debt issued+$6.82 BProceeds from trade receivable securitization facility, net: $137,000,000.00Securitization proceeds+$137.00 MRepayments of senior subordinated notes, net: -$550,000,000.00Other long-term debt repaid−$550.00 MRepurchases of common stock: $0.00Repayment on term loans: -$4,403,000,000.00Debt repaid, 90+ days−$4.40 BRepayment on revolving credit facility: $0.00Repayments of senior secured notes: -$4,400,000,000.00Senior debt repaid−$4.40 BProceeds from exercise of stock options: $245,000,000.00Stock option exercises+$245.00 MNet cash from financing activities: $3,171,000,000.00Financing cash+$3.17 Bfinancing reconciliation: $14,570,000,000.00Capital expenditures: -$165,000,000.00PP&E purchases−$165.00 MOther investing transactions: $71,000,000.00Business sales+$71.00 MAcquisition of businesses, net of cash acquired: -$2,347,000,000.00Acquisitions, net of cash−$2.35 BNet cash used in investing activities: -$2,441,000,000.00. Cash required to fund net payments.Investing cash−$2.44 Binvesting reconciliation: $2,512,000,000.00Cash sources and uses: $8,702,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $3,472,000,000.00Beginning cash$3.47 BEnding cash: Cash, cash equivalents, and restricted cash: $6,261,000,000.00Ending cash$6.26 BExchange-rate effect: $14,000,000.00FX effect+$14.00 MCASH RECONCILIATIONOperatingflowsFinancingflowsInvestingflowsFree cash flow$1.88 BOperating cash − cash spent on PP&ECash flow / Net income1.19×Operating cash flow ÷ net incomeNet cash change+$2.79 BEnding cash − beginning cash
Chart details

TransDigm Group Incorporated cash flow reconciliation, Oct 1, 2023 through Sep 30, 2024

Cash flows for Oct 1, 2023 through Sep 30, 2024. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Sep 30, 2023. Ending cash: Sep 30, 2024. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Sep 30, 2023
3,472,000,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
2,045,000,000 US dollars. Net cash provided.
Gain on sale of businesses, net
negative 11,000,000 US dollars
Amortization of intangible assets and product certification costs
163,000,000 US dollars
Deferred income taxes
10,000,000 US dollars
Non-cash stock and deferred compensation expense
217,000,000 US dollars
Accounts payable
negative 11,000,000 US dollars
Amortization of inventory step-up
21,000,000 US dollars
Income from discontinued operations, net of tax
0 US dollars
Foreign currency exchange losses (gains)
20,000,000 US dollars
Amortization of loss contract reserves
negative 35,000,000 US dollars
Accrued and other liabilities
negative 41,000,000 US dollars
Net income
1,715,000,000 US dollars
Inventories
negative 104,000,000 US dollars
Accrued interest
60,000,000 US dollars
Refinancing costs
58,000,000 US dollars
Trade accounts receivable
negative 84,000,000 US dollars
Income taxes (receivable) payable
negative 62,000,000 US dollars
Depreciation
149,000,000 US dollars
Other assets
negative 60,000,000 US dollars
Amortization of debt issuance costs, original issue discount and premium
40,000,000 US dollars
(Gain) loss on settlement of the Esterline Retirement Plan (the “ERP”)
0 US dollars
Cash refund (contribution) for the ERP settlement, net
0 US dollars
Investing activities
negative 2,441,000,000 US dollars. Net cash used.
Capital expenditures
negative 165,000,000 US dollars
Other investing transactions
71,000,000 US dollars
Acquisition of businesses, net of cash acquired
negative 2,347,000,000 US dollars
Financing activities
3,171,000,000 US dollars. Net cash provided.
Dividends and dividend equivalent payments
negative 2,038,000,000 US dollars
Financing costs and other, net
negative 8,000,000 US dollars
Proceeds from issuance of senior secured notes, net
7,373,000,000 US dollars
Proceeds from term loans, net
6,815,000,000 US dollars
Proceeds from trade receivable securitization facility, net
137,000,000 US dollars
Repayments of senior subordinated notes, net
negative 550,000,000 US dollars
Repurchases of common stock
0 US dollars
Repayment on term loans
negative 4,403,000,000 US dollars
Repayment on revolving credit facility
0 US dollars
Repayments of senior secured notes
negative 4,400,000,000 US dollars
Proceeds from exercise of stock options
245,000,000 US dollars
Operating adjustment reconciliation
738,000,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
financing gross reconciliation
14,570,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
investing gross reconciliation
2,512,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
Exchange-rate effect
14,000,000 US dollars
Ending cash on Sep 30, 2024
6,261,000,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
8,702,000,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
2,789,000,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
1.19×. Operating cash flow divided by reconciliation net income for the same period. Black from 0.90× through 1.10×; green above 1.10×; red below 0.90×. Color uses the unrounded ratio.
Operating cash flow
2,045,000,000 US dollars. Operating cash flow used in the free cash flow calculation.
Cash purchases of property, plant and equipment
165,000,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
1,880,000,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.

Chart connections

  • Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
  • Financing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Investing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Operating reconciliation adjustments are not all independent cash receipts.
  • Net income enters operating cash directly in the reconciliation. The adjustment junction contributes the remaining $330.00M after reconciling the other positive and negative adjustments. These connections depict an accounting reconciliation, not traced cash receipts.
  • Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
  • The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
  • Operating cash flow minus cash purchases of property, plant and equipment equals free cash flow: 2,045,000,000 US dollars minus 165,000,000 US dollars equals 1,880,000,000 US dollars.
TransDigm Group Incorporated (TDG) FY2024 Annual Statement of Cash Flows Sankey chart
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