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
Cash Flows from Operating Activities
Net Income	10,836,354^†	8,315,876^†	5,609,932	15,119,870^†
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)^†
Depreciation and amortization	1,558,507^†	1,574,228^†	1,580,346	1,442,302^†
Distributions in excess of earnings from equity method investments	(48,328)^†	159,359^†	89,058	(26,528)^†
Non-cash patronage income	(12,297)^†	(12,296)^†	(260,582)	(12,297)^†
Changes in working capital components
Accounts receivable	42,225^†	(577,695)^†	(106,763)	880,498^†
Inventories	(3,268,636)^†	(1,240,062)^†	2,129,459	1,449,712^†
Derivative instruments	(211,888)^†	(34,600)^†	209,928	(140,764)^†
Prepaids and other	176,812^†	198,186^†	(10,175)	(467,564)^†
Tax credits	12,829,780^†	0^†	(229,780)	—
Accounts payable	(1,153,626)^†	(1,952,422)^†	(1,088,769)	2,971,538^†
Accrued expenses	245,809^†	242,640^†	(351,331)	161,068^†
Net cash provided by (used in) operating activities	15,994,712^†	3,273,214^†	4,271,323	10,977,835^†
Cash Flows from Investing Activities
Capital expenditures	(4,044,695)^†	(29,489)^†	(1,381,088)	(1,339,253)^†
Proceeds from investments	0^†	1,028^†	131,492	—
Net cash used in investing activities	(4,044,695)^†	(28,461)^†	(1,249,596)	(1,339,253)^†
Cash Flows from Financing Activities
Member unit repurchases	(10,000)^†	(20,000)^†	0	0^†
Payment on finance lease liability	(37,058)^†	(36,553)^†	(36,055)	(35,564)^†
Member distributions	0^†	0^†	(6,652,100)	0^†
Net cash used in financing activities	(47,058)^†	(56,553)^†	(6,688,155)	(35,564)^†
Net Increase (Decrease) in Cash and Cash Equivalents	11,902,959^†	3,188,200^†	(3,666,428)	9,603,018^†
Cash and Cash equivalents – Beginning of Period	22,972,399	19,784,199	23,450,627	13,847,609
Cash and Cash equivalents – End of Period	34,875,358	22,972,399	19,784,199	23,450,627
Supplemental Cash Flow Information
Cash paid for interest	7,642^†	8,147^†	8,645	9,136^†
Supplemental Disclosure of Noncash Financing and Investing Activities
Capital expenditures included in accounts payable	50,741^†	(7,729)^†	7,729	27,200^†

† 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.