DYCOM INDUSTRIES INC
For the period ended Jan 27, 2024. Filed Mar 1, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 1, 2024
DY$218.80-0.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Fiscal Year Ended | |||
|---|---|---|---|
| January 27, 2024 | January 28, 2023 | January 29, 2022 | |
| Cash flows from operating activities: | |||
| Net income | $218,923 | $142,213 | $48,574 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 163,092 | 144,181 | 152,652 |
| Non-cash lease expense | 35,181 | 32,069 | 31,838 |
| Deferred income tax (benefit) provision | (10,643) | 4,532 | 8,024 |
| Stock-based compensation | 25,457 | 17,927 | 9,866 |
| Provision for bad debt, net | 274 | 2,600 | 2,911 |
| Gain on sale of fixed assets | (28,348) | (16,759) | (4,203) |
| Loss on debt extinguishment | — | — | 62 |
| Amortization of debt discount | — | — | 1,665 |
| Amortization of debt issuance costs and other | 2,984 | 2,835 | 2,825 |
| Change in operating assets and liabilities, net of acquisitions: | |||
| Accounts receivable, net | (142,383) | (173,714) | (40,687) |
| Contract assets, net | 23,034 | (18,394) | 176,982 |
| Other current assets and inventories | 3,085 | (41,270) | (12,255) |
| Other assets | 408 | 5,666 | 2,220 |
| Income taxes receivable/payable | (14,205) | 23,463 | (17,177) |
| Accounts payable | 6,989 | 49,396 | (4,905) |
| Accrued liabilities, insurance claims, operating lease liabilities, and other liabilities | (24,872) | (9,956) | (49,737) |
| Net cash provided by operating activities | 258,976 | 164,789 | 308,655 |
| Cash flows from investing activities: | |||
| Capital expenditures | (218,492) | (200,955) | (157,042) |
| Proceeds from sale of assets | 35,231 | 17,372 | 5,363 |
| Cash paid for acquisitions, net of cash acquired | (122,902) | (350) | — |
| Net cash used in investing activities | (306,163) | (183,933) | (151,679) |
| Cash flows from financing activities: | |||
| Proceeds from 2029 Notes | — | — | 500,000 |
| Proceeds from borrowings on senior credit agreement, including term loans | 763,000 | — | 95,000 |
| Principal payments on senior credit agreement, including term loans | (780,500) | (17,500) | (271,875) |
| Debt issuance costs | — | — | (11,646) |
| Repurchase of common stock | (49,659) | (48,732) | (106,133) |
| Extinguishment of 2021 Convertible Notes | — | — | (58,264) |
| Purchase of warrants | — | — | (693) |
| Exercise of stock options | 1,149 | 4,557 | 2,261 |
| Restricted stock tax withholdings | (9,903) | (5,752) | (6,639) |
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Continued)
| Fiscal Year Ended | |||
|---|---|---|---|
| January 27, 2024 | January 28, 2023 | January 29, 2022 | |
| Net cash provided by (used in) financing activities | (75,913) | (67,427) | 142,011 |
| Net (decrease) increase in cash, cash equivalents and restricted cash | (123,100) | (86,571) | 298,987 |
| Cash, cash equivalents and restricted cash at beginning of period (Note 8) | 225,990 | 312,561 | 13,574 |
| Cash, cash equivalents and restricted cash at end of period (Note 8) | $102,890 | $225,990 | $312,561 |
| Supplemental disclosure of other cash flow activities and non-cash investing and financing activities: | |||
| Cash paid for interest | $50,679 | $37,928 | $22,076 |
| Cash paid for taxes, net | $96,616 | $6,915 | $8,601 |
| Purchases of capital assets included in accounts payable or other accrued liabilities at period end | $7,338 | $8,256 | $6,666 |
| See notes to the consolidated financial statements. | |||
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