USANA HEALTH SCIENCES INC

For the period ended Dec 30, 2023. Filed Feb 27, 2024.

About this filing

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.

FY2023 · Filed Feb 27, 2024

USNA$13.10-5.4%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

CONSOLIDATED STATEMENTS OF CASH FLOWS

	Year Ended
	2023	2022	2021
Cash flows from operating activities
Net earnings	$63,788	$69,350	$116,505
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities
Depreciation and amortization	12,702	13,393	13,036
Right-of-use asset amortization	7,693	8,017	9,157
(Gain) loss on sale of property and equipment	10	141	61
Equity-based compensation expense	14,595	13,331	14,298
Deferred income taxes	(2,749)	(7,183)	(2,970)
Inventory write-down	2,601	6,082	4,200
Changes in operating assets and liabilities, net of acquisitions:
Inventories	2,353	15,797	(14,701)
Prepaid expenses and other assets	110	(3,304)	(2,331)
Accounts payable	(428)	(2,656)	(4,572)
Other liabilities	(30,034)	(9,066)	(11,456)
Net cash provided by (used in) operating activities	70,641	103,902	121,227
Cash flows from investing activities
Receipts on notes receivable	—	—	116
Proceeds from the settlement of net investment hedges	3,775	4,555	—
Payments for net investment hedge	(1,271)	—	(1,555)
Payments to acquire businesses	—	(6,532)	—
Proceeds from sale of property and equipment	15	7	15
Purchases of property and equipment	(14,494)	(10,400)	(12,763)
Net cash provided by (used in) investing activities	(11,975)	(12,370)	(14,187)
Cash flows from financing activities
Repurchase of common stock	(11,599)	(25,382)	(177,837)
Borrowings on line of credit	1,542	11,000	—
Payments on line of credit	(750)	(11,000)	—
Payments related to tax withholding for net-share settled equity awards	(3,092)	(4,706)	(3,575)
Payments for contingent consideration	(338)	—	—
Net cash provided by (used in) financing activities	(14,237)	(30,088)	(181,412)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(2,503)	(13,777)	2,088
Net increase (decrease) in cash, cash equivalents, and restricted cash	41,926	47,667	(72,284)
Cash, cash equivalents, and restricted cash at beginning of period	291,320	243,653	315,937
Cash, cash equivalents, and restricted cash at end of period	$333,246	$291,320	$243,653
Reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheets
Cash and cash equivalents	$330,420	$288,420	$239,832
Restricted cash included in other assets	2,826	2,900	3,821

CONSOLIDATED STATEMENTS OF CASH FLOWS - CONTINUED

	Year Ended
	2023	2022	2021
Total cash, cash equivalents, and restricted cash	$333,246	$291,320	$243,653
Supplemental disclosures of cash flow information
Cash paid during the period for:
Interest	$68	$49	$10
Income taxes	44,247	45,863	59,524
Cash received during the period for:
Income tax refund	1,922	113	191
Non-cash investing and financing activities:
Right-of-use assets obtained in exchange for lease obligations	5,699	5,641	5,322
Accrued purchases of property and equipment	117	679	383
Contingent consideration given to acquire businesses	—	886	—
Accrued excise tax for repurchase of common stock	54	—	—

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