ZEBRA TECHNOLOGIES CORP
For the period ended Dec 31, 2024. Filed Feb 13, 2025.
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FY2024 · Filed Feb 13, 2025
ZBRA$321.38-1.6%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 · 2023 · 2022 | |||
| Cash flows from operating activities: | |||
| Net income | $528 | $296 | $463 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | |||
| Depreciation and amortization | 172 | 176 | 204 |
| Share-based compensation | 89 | 55 | 88 |
| Deferred income taxes | (94) | (36) | (210) |
| Unrealized gain on forward interest rate swaps | (31) | (9) | (83) |
| Other, net | 14 | 3 | 5 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable, net | (181) | 249 | (5) |
| Inventories, net | 105 | 50 | (341) |
| Other assets | 9 | (25) | (48) |
| Accounts payable | 176 | (365) | 92 |
| Accrued liabilities | 131 | (97) | (51) |
| Deferred revenue | (13) | 12 | 60 |
| Income taxes | 68 | (168) | 108 |
| Settlement liability | (45) | (180) | 225 |
| Cash receipts (payments) on forward interest rate swaps | 86 | 26 | (6) |
| Other operating activities | (1) | 9 | (13) |
| Net cash provided by (used in) operating activities | 1,013 | (4) | 488 |
| Cash flows from investing activities: | |||
| Acquisition of businesses, net of cash acquired | — | — | (881) |
| Purchases of property, plant and equipment | (59) | (87) | (75) |
| Proceeds from sale (purchases) of short-term investments | 5 | (4) | — |
| Purchases of long-term investments | (3) | (1) | (12) |
| Net cash used in investing activities | (57) | (92) | (968) |
| Cash flows from financing activities: | |||
| Proceeds from issuance of debt | 651 | 440 | 1,284 |
| Payments of debt | (694) | (245) | (247) |
| Payment of debt issuance costs, extinguishment costs and discounts | (9) | — | (8) |
| Payments for repurchases of common stock | (47) | (52) | (751) |
| Net payments related to share-based compensation plans | (30) | (8) | (14) |
| Change in unremitted cash collections from servicing factored receivables | (61) | (18) | (11) |
| Net cash (used in) provided by financing activities | (190) | 117 | 253 |
| Effect of exchange rate changes on cash and cash equivalents, including restricted cash | (3) | — | — |
| Net increase (decrease) in cash and cash equivalents, including restricted cash | 763 | 21 | (227) |
| Cash and cash equivalents, including restricted cash, at beginning of period | 138 | 117 | 344 |
| Cash and cash equivalents, including restricted cash, at end of period | $901 | $138 | $117 |
| Less restricted cash, included in Prepaid expenses and other current assets | — | (1) | (12) |
| Cash and cash equivalents at end of period | $901 | $137 | $105 |
| Supplemental disclosures of cash flow information: | |||
| Income taxes paid | $124 | $252 | $168 |
| Interest paid inclusive of forward interest rate swaps | $55 | $111 | $58 |
Certain prior period amounts included in Net cash provided by (used in) operating activities have been reclassified to conform with the current period presentation.
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