HEOL · As filed with the SEC

Highwater Ethanol cash flow statement, by quarter

The statement as Highwater Ethanol presents it in its 10-Q and 10-K: its own lines, labels and order. Tables over time lines up standardized figures across every filing.

Condensed Unaudited Statements of Cash Flows · USD

USD	Q3 FY26^† 3 months ended Jul 31, 2026	Q2 FY26^† 3 months ended Apr 30, 2026	Q1 FY26 3 months ended Jan 31, 2026	Q4 FY25^† 3 months ended Oct 31, 2025	Q3 FY25^† 3 months ended Jul 31, 2025	Q2 FY25^† 3 months ended Apr 30, 2025	Q1 FY25 3 months ended Jan 31, 2025	Q4 FY24^† 3 months ended Oct 31, 2024
Cash Flows from Operating Activities
Net Income	10,836,354^†	8,315,876^†	5,609,932	15,119,870^†	1,678,195^†	(479,705)^†	8,308	2,089,096^†
Adjustments to reconcile net income to net cash provided by (used in) operations
Tax credit generation	(5,000,000)^†	(3,400,000)^†	(3,300,000)	(10,400,000)^†	0^†	0^†	—	—
Depreciation and amortization	1,558,507^†	1,574,228^†	1,580,346	1,442,302^†	1,429,639^†	1,419,381^†	1,372,181	1,292,985^†
Distributions in excess of earnings from equity method investments	(48,328)^†	159,359^†	89,058	(26,528)^†	(67,154)^†	(56,681)^†	157,590	137,668^†
Non-cash patronage income	(12,297)^†	(12,296)^†	(260,582)	(12,297)^†	(12,297)^†	(12,297)^†	(310,933)	(12,297)^†
Changes in working capital components
Accounts receivable	42,225^†	(577,695)^†	(106,763)	880,498^†	70,682^†	(157,184)^†	598,021	(1,676,918)^†
Inventories	(3,268,636)^†	(1,240,062)^†	2,129,459	1,449,712^†	(3,493,326)^†	2,713,215^†	(3,254,419)	(611,706)^†
Derivative instruments	(211,888)^†	(34,600)^†	209,928	(140,764)^†	45,060^†	126,599^†	205,729	(120,260)^†
Prepaids and other	176,812^†	198,186^†	(10,175)	(467,564)^†	264,113^†	107,488^†	130,584	(558,509)^†
Tax credits	12,829,780^†	0^†	(229,780)	—	0^†	0^†	—	—
Accounts payable	(1,153,626)^†	(1,952,422)^†	(1,088,769)	2,971,538^†	2,087,988^†	(3,793,450)^†	(8,176,995)	5,312,664^†
Accrued expenses	245,809^†	242,640^†	(351,331)	161,068^†	255,564^†	75,419^†	(438,529)	(99,379)^†
Net cash provided by (used in) operating activities	15,994,712^†	3,273,214^†	4,271,323	10,977,835^†	2,258,464^†	(57,215)^†	(9,708,463)	5,753,344^†
Cash Flows from Investing Activities
Capital expenditures	(4,044,695)^†	(29,489)^†	(1,381,088)	(1,339,253)^†	(1,928,034)^†	(1,914,995)^†	(555,144)	(2,086,508)^†
Proceeds from investments	0^†	1,028^†	131,492	—	0^†	125,374^†	—	—
Net cash used in investing activities	(4,044,695)^†	(28,461)^†	(1,249,596)	(1,339,253)^†	(1,928,034)^†	(1,789,621)^†	(555,144)	(2,190,542)^†
Cash Flows from Financing Activities
Member unit repurchases	(10,000)^†	(20,000)^†	0	0^†	0^†	(10,000)^†	(10,000)	0^†
Payment on finance lease liability	(37,058)^†	(36,553)^†	(36,055)	(35,564)^†	(35,080)^†	(34,602)^†	(34,130)	(33,665)^†
Member distributions	0^†	0^†	(6,652,100)	0^†	0^†	0^†	(8,079,250)	0^†
Net cash used in financing activities	(47,058)^†	(56,553)^†	(6,688,155)	(35,564)^†	(35,080)^†	(44,602)^†	(8,123,380)	(33,665)^†
Net Increase (Decrease) in Cash and Cash Equivalents	11,902,959^†	3,188,200^†	(3,666,428)	9,603,018^†	295,350^†	(1,891,438)^†	(18,386,987)	3,529,137^†
Cash and Cash equivalents – Beginning of Period	22,972,399	19,784,199	23,450,627	13,847,609	13,552,259	15,443,697	33,830,684	30,301,547
Cash and Cash equivalents – End of Period	34,875,358	22,972,399	19,784,199	23,450,627	13,847,609	13,552,259	15,443,697	33,830,684
Supplemental Cash Flow Information
Cash paid for interest	7,642^†	8,147^†	8,645	9,136^†	9,620^†	10,098^†	10,570	11,035^†
Supplemental Disclosure of Noncash Financing and Investing Activities
Capital expenditures included in accounts payable	50,741^†	(7,729)^†	7,729	27,200^†	(12,419)^†	12,419^†	0	(21,025)^†

† Derived: worked out from the filings, not stated in them. A fourth quarter is the 10-K year less the nine months in the third-quarter 10-Q; a quarter of cash flows is year to date less the prior year to date.

As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.