| Schedule of Discontinued Operations |
The following table presents the summarized statements of operations of discontinued operations.
|
|
|
|
|
|
|
|
|
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|
Year Ended December 31, |
|
(in thousands) |
|
2024 |
|
|
2023 |
|
Revenues |
|
$ |
80,017 |
|
|
$ |
324,720 |
|
Cost of revenues (exclusive of depreciation and amortization shown separately below) |
|
|
59,605 |
|
|
|
245,420 |
|
Selling, general, and administrative expenses |
|
|
15,816 |
|
|
|
14,855 |
|
(Gain) loss on divestitures |
|
|
(95,099 |
) |
|
|
19,068 |
|
Depreciation and amortization |
|
|
4,695 |
|
|
|
15,841 |
|
Total operating expenses |
|
|
(14,983 |
) |
|
|
295,184 |
|
Operating income from discontinued operations |
|
|
95,000 |
|
|
|
29,536 |
|
Other expenses: |
|
|
|
|
|
|
Interest expense |
|
|
48 |
|
|
|
68 |
|
Total other expenses |
|
|
48 |
|
|
|
68 |
|
Income before income taxes from discontinued operations |
|
|
94,952 |
|
|
|
29,468 |
|
Provision for income taxes from discontinued operations |
|
|
41,318 |
|
|
|
8,639 |
|
Net income from discontinued operations, net of tax |
|
|
53,634 |
|
|
|
20,829 |
|
Less: net income from discontinued operations attributable to noncontrolling interest, net of tax |
|
|
2,192 |
|
|
|
594 |
|
Net income from discontinued operations attributable to stockholders of Advantage Solutions Inc. |
|
$ |
51,442 |
|
|
$ |
20,235 |
|
The following table provides a summary of the cash flows from continuing and discontinued operations:
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|
|
|
Year Ended December 31, |
|
(in thousands) |
|
2024 |
|
|
2023 |
|
Net cash provided by operating activities from continuing operations |
|
$ |
93,095 |
|
|
$ |
228,492 |
|
Net cash provided by operating activities from discontinued operations |
|
|
6,437 |
|
|
|
10,513 |
|
Net cash provided by operating activities |
|
|
99,532 |
|
|
|
239,005 |
|
|
|
|
|
|
|
|
Net cash provided by (used in) investing activities from continuing operations |
|
|
206,446 |
|
|
|
(50,515 |
) |
Net cash used in investing activities from discontinued operations |
|
|
(7,304 |
) |
|
|
(4,708 |
) |
Net cash provided by (used in) investing activities |
|
|
199,142 |
|
|
|
(55,223 |
) |
|
|
|
|
|
|
|
Net cash used in financing activities from continuing operations |
|
|
(211,417 |
) |
|
|
(178,396 |
) |
Net cash used in financing activities from discontinued operations |
|
|
(4,362 |
) |
|
|
(2,942 |
) |
Net cash used in financing activities |
|
|
(215,779 |
) |
|
|
(181,338 |
) |
|
|
|
|
|
|
|
Net effect of foreign currency changes on cash from continuing operations |
|
|
(4,575 |
) |
|
|
1,800 |
|
Net effect of foreign currency changes on cash from discontinued operations |
|
|
(412 |
) |
|
|
76 |
|
Net effect of foreign currency changes on cash |
|
|
(4,987 |
) |
|
|
1,876 |
|
|
|
|
|
|
|
|
Net change in cash, cash equivalents and restricted cash from continuing operations |
|
|
83,549 |
|
|
|
1,381 |
|
Net change in cash, cash equivalents and restricted cash from discontinued operations |
|
|
(5,641 |
) |
|
|
2,939 |
|
Net change in cash, cash equivalents and restricted cash |
|
$ |
77,908 |
|
|
$ |
4,320 |
|
|