RE:Accounting Summary cash decreased $33.6 million primarily due to the payment of fiscal 2023 performance incentive plan awards, the timing of payments related to trade and non-trade payables, less cash generated from operations, and the investments made in property and equipment in the first quarter of 2024;
( over $20 million in 2023 incentive plan awards paid in Q1 )
deferred tax assets arise primarily due to temporary differences and operating losses carried forward relating to the Canadian operations as a result of management’s assessment that the Company has the ability to generate future profitable operations and that it is probable that future taxable profits will be available to utilize the tax benefits;
( $33.2 million in deferred tax sssets available to offset income taxes this year )
trade and other payables decreased by $27.4 million due to the timing of payments related to trade and non-trade payables and personnel-related liabilities (including performance incentive
Combined with remaining 2023 incentive awards, accounts for Q1 cash decrease