DYCOM INDUSTRIES INC
For the period ended Jan 25, 2025. Filed Feb 28, 2025.
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FY2025 · Filed Feb 28, 2025
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 25, 2025 | January 27, 2024 | January 28, 2023 | |
| Cash flows from operating activities: | |||
| Net income | $233,413 | $218,923 | $142,213 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 198,571 | 163,092 | 144,181 |
| Non-cash lease expense | 41,030 | 35,181 | 32,069 |
| Deferred income tax (benefit) provision | (17,390) | (10,643) | 4,532 |
| Stock-based compensation | 40,320 | 25,457 | 17,927 |
| (Recovery of) provision for bad debt, net | (1,184) | 274 | 2,600 |
| Gain on sale of fixed assets | (36,461) | (28,348) | (16,759) |
| Loss on debt extinguishment | 965 | — | — |
| Amortization of debt issuance costs and other | 4,431 | 2,984 | 2,835 |
| Change in operating assets and liabilities, net of acquisitions: | |||
| Accounts receivable, net | (117,766) | (142,383) | (173,714) |
| Contract assets/liabilities, net | 31,191 | 23,034 | (18,394) |
| Other current assets and inventories | 4,284 | 3,085 | (41,270) |
| Other assets | (20,956) | 408 | 5,666 |
| Income taxes receivable/payable | 26,476 | (14,205) | 23,463 |
| Accounts payable | (16,810) | 6,989 | 49,396 |
| Accrued liabilities, insurance claims, operating lease liabilities, and other liabilities | (21,018) | (24,872) | (9,956) |
| Net cash provided by operating activities | 349,096 | 258,976 | 164,789 |
| Cash flows from investing activities: | |||
| Capital expenditures | (250,457) | (218,492) | (200,955) |
| Proceeds from sale of assets | 39,135 | 35,231 | 17,372 |
| Cash paid for acquisitions, net of cash acquired | (183,876) | (122,902) | (350) |
| Net cash used in investing activities | (395,198) | (306,163) | (183,933) |
| Cash flows from financing activities: | |||
| Proceeds from borrowings on senior credit agreement, including term loans | 987,375 | 763,000 | — |
| Principal payments on senior credit agreement, including term loans | (852,375) | (780,500) | (17,500) |
| Debt issuance costs | (6,671) | — | — |
| Repurchase of common stock | (65,640) | (49,659) | (48,732) |
| Exercise of stock options | (7,959) | 1,149 | 4,557 |
| Restricted stock tax withholdings | (17,044) | (9,903) | (5,752) |
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Continued)
| Fiscal Year Ended | |||
|---|---|---|---|
| January 25, 2025 | January 27, 2024 | January 28, 2023 | |
| Net cash provided by (used in) financing activities | 37,686 | (75,913) | (67,427) |
| Net decrease in cash, cash equivalents and restricted cash | (8,416) | (123,100) | (86,571) |
| Cash, cash equivalents and restricted cash at beginning of period (Note 8) | 102,890 | 225,990 | 312,561 |
| Cash, cash equivalents and restricted cash at end of period (Note 8) | $94,474 | $102,890 | $225,990 |
| Supplemental disclosure of other cash flow activities and non-cash investing and financing activities: | |||
| Cash paid for interest | $57,924 | $50,679 | $37,928 |
| Cash paid for taxes, net | $61,542 | $96,616 | $6,915 |
| Purchases of capital assets included in accounts payable or other accrued liabilities at period end | $16,059 | $7,338 | $8,256 |
| See notes to the consolidated financial statements. | |||
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