STATEMENT OF CASH FLOWS SUPPLEMENTAL INFORMATION

12 Months Ended

Jul. 31, 2024

Supplemental Cash Flow Elements [Abstract]

STATEMENT OF CASH FLOWS SUPPLEMENTAL INFORMATION

The amount of cash, cash equivalents and restricted cash as of July 31, 2024 and 2023 in the consolidated statements of cash flows is reconciled to the Company's consolidated balance sheets as follows:


	Successor
	July 31, 2024		July 31, 2023
	(In thousands)
Cash and cash equivalents	$	248,614	$	121,372
Funds held for clients	2,576		2,031
Cash, cash equivalents and restricted cash	$	251,190	$	123,403

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


	Successor				Predecessor
	Fiscal Year Ended July 31,		May 1 to July 31,		August 1, 2022 to April 30,
	2024		2023		2023
	(In thousands)
Cash paid for interest	$	1,009	$	9	$	1,145
Cash paid for income taxes	$	2,204	$	3,008	$	—

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

There were no non-cash investing activities for the fiscal year ended July 31, 2024. Non-cash investing activities during the May 1 to July 31, 2023 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 fiscal years ended July 31, 2024 and 2023 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 during the fiscal year ended July 31, 2023. Additionally, non-cash financing activities during the May 1 to July 31, 2023 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.