XML 24 R7.htm IDEA: XBRL DOCUMENT v3.24.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities    
Net income attributable to Consolidated Water Co. Ltd. stockholders $ 29,585,391 $ 5,856,294
Income from Continuing Operations Attributable to Non-Controlling Interests 573,791 1,112,913
Net income 30,159,182 6,969,207
Adjustments to reconcile net income to net cash provided by operating activities    
Impairment loss for Mexico assets - discontinued operations   377,326
Foreign currency transaction adjustment - discontinued operations (2,003) (102,507)
Loss from discontinued operations 1,088,747 2,096,230
Depreciation and amortization 6,576,454 6,187,308
Deferred income tax benefit (524,999) (4,220)
Provision for credit losses 408,489 0
Loss (gain) on net put/call option   (128,000)
Compensation expense relating to stock and stock option grants 1,933,666 1,417,172
Gain on Asset Dispositions and Impairments, Net 7,112 12,704
Profit-sharing and equity in earnings of OC-BVI (169,728) (102,225)
Distribution of earnings from OC-BVI 303,000 272,700
Accounts receivable (10,970,521) 303,125
Contract assets (18,639,335) (2,423,761)
Inventory (891,405) (3,387,011)
Prepaid expenses and other assets (755,391) (3,365,747)
Accounts payable (including related parties), accrued expenses and other current liabilities 3,161,386 6,756,433
Contract liabilities (2,566,910) 8,290,043
Operating lease liabilities (5,205) (5,208)
Deferred revenue 1,192 (267,821)
Net cash provided by operating activities - continuing operations 9,113,731 23,151,748
Net cash used in operating activities - discontinued operations (1,142,969) (1,819,943)
Net cash provided by operating activities 7,970,762 21,331,805
Cash flows from investing activities    
Purchase of certificate of deposit   (2,518,493)
Maturity of certificate of deposit   5,018,493
Additions to property, plant and equipment and construction in progress (5,047,884) (7,542,761)
Proceeds from asset dispositions 20,808 61,725
Acquisition of REC, net of cash acquired (3,419,916)  
Purchase of non-controlling interest in PERC (2,440,027)  
Net cash used in investing activities (10,887,019) (4,981,036)
Cash flows from financing activities    
Dividends paid to common shareholders (5,472,790) (5,145,742)
Dividends paid to preferred shareholders (14,228) (11,078)
Dividends paid to non-controlling interests   (1,102,475)
Buyback of redeemable preferred stock (1,830) (226)
Proceeds received from exercise of stock options 99,764 26,739
Principal repayments on long-term debt (135,481) (72,091)
Net cash used in financing activities (5,524,565) (6,304,873)
Net increase (decrease) in cash and cash equivalents (8,440,822) 10,045,896
Cash and cash equivalents at beginning of period 50,711,751 40,358,059
Cash and cash equivalents at beginning of period - discontinued operations 442,252 750,048
Less: cash and cash equivalents at end of period - discontinued operations (91,283) (442,252)
Cash and cash equivalents at end of period 42,621,898 50,711,751
Non-cash transactions:    
Issuance of 368,383 and 0, respectively, shares of common stock for the purchase of non-controlling interests in PERC 5,359,973 0
Right-of-use assets obtained in exchange for new operating lease liabilities 745,078 0
Purchase of equipment through issuance of long-term debt 0 188,645
Redeemable preferred stock [Member]    
Non-cash transactions:    
Conversion (on a one-to-one basis) of 8,848 and 6,585, respectively, shares of redeemable preferred stock to common stock 5,309 3,951
Common stock [Member]    
Non-cash transactions:    
Issuance of 68,864 and 72,597, respectively, shares of common stock for services rendered $ 1,015,177 $ 877,298