XML 17 R6.htm IDEA: XBRL DOCUMENT v3.24.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities    
Net income attributable to Consolidated Water Co. Ltd. stockholders $ 26,779,069 $ 19,742,526
Income from Continuing Operations Attributable to Non-Controlling Interests 448,724 463,775
Net income 27,227,793 20,206,301
Adjustments to reconcile net income to net cash provided by operating activities    
Gain on sale of land and project documentation (12,134,766)  
Foreign currency transaction adjustment - discontinued operations 60,915 (966)
Loss from discontinued operations 1,435,925 700,824
Depreciation and amortization 5,020,410 4,862,781
Deferred income tax benefit (303,527) (94,021)
Provision for credit losses 390,108 9,215
Compensation expense relating to stock and stock option grants 910,652 1,447,093
Loss (gain) on asset dispositions and impairments, net (198,452) (6,916)
Profit-sharing and equity in earnings of OC-BVI (199,983) (146,487)
Distribution of earnings from OC-BVI 227,250 303,000
Accounts receivable 637,162 (11,080,886)
Contract assets 19,594,696 (6,059,018)
Inventory 1,529,545 (2,671,769)
Prepaid expenses and other assets (1,269,737) (1,978,213)
Accounts payable (including related parties), accrued expenses and other current liabilities (3,908,157) 2,957,670
Contract liabilities (218,291) 724,828
Operating lease liabilities (3,905) (3,905)
Deferred revenue (108,042) 75,733
Net cash provided by operating activities - continuing operations 38,689,596 9,245,264
Net cash used in operating activities - discontinued operations (1,432,041) (849,639)
Net cash provided by operating activities 37,257,555 8,395,625
Cash flows from investing activities    
Additions to property, plant and equipment and construction in progress (3,747,250) (4,123,770)
Proceeds from asset dispositions 446,337 21,410
Proceeds from Mexican settlement agreement 33,261,664  
Purchase of non-controlling interest in PERC   (2,440,027)
Net provided by in investing activities 29,960,751 (6,542,387)
Cash flows from financing activities    
Dividends paid to common shareholders (4,519,412) (3,977,676)
Dividends paid to preferred shareholders (13,051) (9,933)
Dividends paid to non-controlling interests (232,100)  
Buyback of redeemable preferred stock (10,815) (1,830)
Proceeds received from exercise of stock options 23,753 99,764
Principal repayments on long-term debt (140,387) (82,347)
Net cash used in financing activities (4,892,012) (3,972,022)
Net increase (decrease) in cash and cash equivalents 62,326,294 (2,118,784)
Cash and cash equivalents at beginning of period 42,621,898 50,711,751
Cash and cash equivalents at beginning of period - discontinued operations 91,283 442,252
Less: cash and cash equivalents at end of period - discontinued operations (169,848) (189,613)
Cash and cash equivalents at end of period 104,869,627 48,845,606
Non-cash transactions:    
Issuance of 5,904 and 13,309, respectively, shares of redeemable preferred stock for services rendered 148,485 287,922
Issuance of 57,384 and 44,783, respectively, shares of common stock for services rendered 730,524 621,811
Dividends declared but not paid 1,746,702 1,500,218
Issuance of 0 and 368,383, respectively, shares of common stock for the purchase of non-controlling interest in PERC   5,359,973
Conversion (on a one-to-one basis) of 5,530 and 7,936, respectively, shares of redeemable preferred stock to common stock 3,318 4,762
Transfers from inventory to property, plant and equipment and construction in progress 451,477 224,952
Transfers from construction in progress to property, plant and equipment 875,580 525,673
Right-of-use assets obtained in exchange for new operating lease liabilities 1,604,702 249,145
Transfers from prepaids to property, plant and equipment $ 67,136 255,379
Transfers from prepaids to inventory   $ 238,032