Ownership / Allison Transmission Holdings, Inc. | Tables in SEC filings

ALSN Allison Transmission Holdings, Inc.

Annual report

	Years ended December 31,
	2024		2023		2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	731	$	673	$	531
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of property, plant and equipment		111		109		109
Stock-based compensation		26		22		18
Deferred income taxes		(17)		(17)		(4)
Amortization of intangible assets		10		45		46
Unrealized loss on marketable securities		9		1		22
Pension plan settlement loss		4		—		—
Amortization of deferred financing costs		3		4		4
Technology-related investments loss (gain)		2		(3)		(6)
Unrealized loss on foreign exchange		1		—		6
Other		(2)		1		2
Changes in assets and liabilities:
Accounts receivable		(8)		7		(70)
Inventories		(44)		(52)		(25)
Accounts payable		1		21		15
Other assets and liabilities		(26)		(27)		9
Net cash provided by operating activities		801		784		657
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions of long-lived assets		(143)		(125)		(167)
Investment in equity method investee		(6)		(1)		(1)
Proceeds from sale of assets		4		—		2
Investment in equities without a readily determinable fair value		(2)		(5)		—
Proceeds from technology-related investments		—		2		6
Business acquisitions		—		—		(23)
Net cash used for investing activities		(147)		(129)		(183)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repurchases of common stock		(254)		(263)		(278)
Payments on long-term debt		(104)		(7)		(7)
Dividend payments		(87)		(83)		(80)
Proceeds from exercise of stock options		32		28		2
Taxes paid related to net share settlement of equity awards		(10)		(7)		(4)
Debt financing fees		(4)		—		—
Repayments on revolving credit facility		—		—		(95)
Borrowings on revolving credit facility		—		—		95
Net cash used for financing activities		(427)		(332)		(367)
Effect of exchange rate changes on cash		(1)		—		(2)
Net increase in cash and cash equivalents		226		323		105
Cash and cash equivalents at beginning of period		555		232		127
Cash and cash equivalents at end of period	$	781	$	555	$	232
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Income taxes paid	$	(190)	$	(194)	$	(102)
Interest paid	$	(124)	$	(131)	$	(117)
Interest received from interest rate swaps	$	12	$	12	$	1
Non-cash investing activities:
Capital expenditures in liabilities	$	9	$	4	$	11

	December 31, 2024						December 31, 2023
	Intangible assets, gross		Accumulated amortization		Intangible assets, net		Intangible assets, gross		Accumulated amortization		Intangible assets, net
Other intangible assets:
Trade name	$	791	$	—	$	791	$	791	$	—	$	791
In-process research and development		—		—		—		25		—		25
Customer relationships – commercial		839		(837)		2		839		(833)		6
Proprietary technology		507		(481)		26		484		(479)		5
Customer relationships – defense		62		(59)		3		62		(56)		6
Non-compete agreement		1		(1)		—		1		(1)		—
Total	$	2,200	$	(1,378)	$	822	$	2,202	$	(1,369)	$	833

	December 31, 2024		December 31, 2023
Long-term debt:
Senior Secured Credit Facility Term Loan, variable, due 2026	$	—	$	618
Senior Notes, fixed 4.75%, due 2027		400		400
Senior Notes, fixed 5.875%, due 2029		500		500
Senior Notes, fixed 3.75%, due 2031		1,000		1,000
Senior Secured Credit Facility Term Loan, variable, due 2031		514		—
Total long-term debt	$	2,414	$	2,518
Less: current maturities of long-term debt		5		6
deferred financing costs, net (see Note 2)		14		15
Total long-term debt, net	$	2,395	$	2,497

	Years ended December 31,
	2024		2023		2022
Current income taxes:
U.S. federal	$	161	$	144	$	98
U.S. state and local		13		16		11
Foreign		9		11		9
Total Current		183		171		118
Deferred income tax (benefit) expense, net:
U.S. federal		(13)		(15)		5
U.S. state and local		(3)		2		(3)
Foreign		(1)		(4)		(6)
Total Deferred		(17)		(17)		(4)
Total income tax expense	$	166	$	154	$	114

	Pension and OPEB liability adjustments		Interest rate swaps		Foreign currency items		Total
AOCL as of December 31, 2021	$	(17)	$	(24)	$	(32)	$	(73)
Other comprehensive income (loss) before reclassifications		39		44		(10)		73
Amounts reclassified from AOCL		(10)		6		—		(4)
Income tax expense		(7)		(11)		—		(18)
Net current period other comprehensive income (loss)	$	22	$	39	$	(10)	$	51
AOCL as of December 31, 2022	$	5	$	15	$	(42)	$	(22)
Other comprehensive income before reclassifications		3		7		2		12
Amounts reclassified from AOCL		(12)		(12)		—		(24)
Income tax benefit		2		1		—		3
Net current period other comprehensive (loss) income	$	(7)	$	(4)	$	2	$	(9)
AOCL as of December 31, 2023	$	(2)	$	11	$	(40)	$	(31)
Other comprehensive income (loss) before reclassifications		8		5		(13)		—
Amounts reclassified from AOCL		(9)		(12)		—		(21)
Income tax benefit		—		1		—		1
Net current period other comprehensive loss	$	(1)	$	(6)	$	(13)	$	(20)
AOCL as of December 31, 2024	$	(3)	$	5	$	(53)	$	(51)

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