ADAMS RESOURCES & ENERGY, INC. Cashflow Statement

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Financial Statements

Income Statement Balance Sheet Cashflow Statement

Consolidated statements of cash flows

In millions of USD, except per-share amounts

	FY2023 12 months to Dec 31, 2023	FY2022 12 months to Dec 31, 2022	FY2021 12 months to Dec 31, 2021	FY2020 12 months to Dec 31, 2020	FY2019 12 months to Dec 31, 2019
Operating activities:
Net earnings
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:
Depreciation and amortization
Gains on sales of property
Impairment of oil and natural gas properties
Provision for doubtful accounts
Stock-based compensation expense
Change in contingent consideration liability
Deferred income taxes
Net change in fair value contracts
Gain on dissolution of AREC
Impairment of investments in unconsolidated affiliates
Loss on deconsolidation of subsidiary

Changes in assets and liabilities:
Accounts receivable
Accounts receivable/payable, affiliates
Inventories
Income tax receivable
Prepayments and other current assets
Accounts payable
Accrued liabilities
Other
Net cash provided by operating activities
Investing activities:
Property and equipment additions
Acquisition of Firebird and Phoenix, net of cash acquired
Asset acquisitions
Proceeds from property sales
Proceeds from sales of AREC assets
Proceeds from dissolution of AREC
Insurance and state collateral refunds
Net cash used in investing activities

Financing activities:
Borrowings under Credit Agreement
Repayments under Credit Agreement
Principal repayments of finance lease obligations
Cash paid for debt issuance costs
Payment for financed portion of VEX acquisition
Repurchase of common shares from KSA
Net proceeds from sale of equity
Payment of contingent consideration liability
Dividends paid on common stock
Net cash used in financing activities
Increase (Decrease) in cash and cash equivalents, including restricted cash
Cash and cash equivalents, including restricted cash, at beginning of period
Cash and cash equivalents, including restricted cash, at end of period

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