STATEMENT OF CASH FLOWS SUPPLEMENTAL INFORMATION

12 Months Ended

Jul. 31, 2023

Supplemental Cash Flow Elements [Abstract]

STATEMENT OF CASH FLOWS SUPPLEMENTAL INFORMATION

STATEMENT OF CASH FLOWS SUPPLEMENTAL INFORMATION

The amount of cash, cash equivalents and restricted cash as of July 31, 2023 and 2022 in the consolidated statements of cash flows is reconciled to the Company's consolidated balance sheets as follows:

	Successor		Predecessor
	July 31, 2023		July 31, 2022
	(In thousands)
Cash and cash equivalents	$	121,372	$	53,142
Funds held for clients	2,031		4,903
Cash, cash equivalents and restricted cash	$	123,403	$	58,045

Cash used for operating activities reflect cash payments for interest and income taxes as follows:

	Successor		Predecessor
	May 1 to July 31,		August 1, 2022 to April 30,		Fiscal Year Ended July 31,
	2023		2023		2022
			(In thousands)
Cash paid for interest	$	9	$	1,145	$	1,237
Cash paid for income taxes	$	3,008	$	—	$	2,364

Cash paid for taxes can be lower than income tax expense as shown on the Company's consolidated statements of operations due to the timing of required payments in relation to recorded expense, which can cross fiscal years.

Non-Cash Activities

Non-cash investing activities during the Successor Period included $154.5 million for unsettled proceeds from the disposition of the Aerojet shares. The proceeds were received in August 2023.

Non-cash financing activities during the Successor Period included the issuance of $202.7 million of Series E Preferred Stock in exchange for 3.6 million shares of common stock, par value $0.10 per share, of Aerojet held by Steel Holdings in the Exchange Transaction. Additionally, non-cash financing activities during the fiscal years ended July 31, 2023 and 2022 included the issuance of approximately 0.1 million and 0.1 million shares, respectively, of non-vested common stock, valued at approximately $0.7 million and $0.7 million, respectively, to certain employees and non-employees of the Company. The Company also approved $57.4 thousand of accelerated compensation cost related to unvested shares that were approved to vest.