DECKERS OUTDOOR CORP

For the period ended Mar 31, 2024. Filed May 24, 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 May 24, 2024

DECK$89.79-0.7%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

CONSOLIDATED STATEMENTS OF CASH FLOWS

	Years Ended March 31,
	2024	2023	2022
OPERATING ACTIVITIES
Net income	$759,563	$516,822	$451,949
Reconciliation of net income to net cash provided by (used in) operating activities:
Depreciation, amortization, and accretion	57,587	47,858	42,878
Amortization on cloud computing arrangements	2,075	2,149	1,552
Loss on extinguishment of debt	—	226	—
Bad debt expense (benefit)	789	1,983	(342)
Deferred tax benefit	(1,510)	(9,719)	(27,796)
Stock-based compensation	37,288	26,897	26,816
Loss on disposal of long-lived assets	407	2,691	107
Impairment of intangible assets	8,164	—	—
Impairment of operating lease and other long-lived assets	1,015	2,817	3,186
Changes in operating assets and liabilities:
Trade accounts receivable, net	4,157	(806)	(86,627)
Inventories	58,541	(26,056)	(228,554)
Prepaid expenses and other current assets	(38,490)	(5,609)	(19,095)
Income tax receivable	(38,775)	13,459	(11,933)
Net operating lease assets and lease liabilities	(567)	(8,308)	3,189
Other assets	(9,989)	13,240	(28,296)
Trade accounts payable	119,601	(74,247)	89,184
Other accrued expenses	43,534	11,528	(20,370)
Income tax payable	35,016	4,897	(24,494)
Other long-term liabilities	(5,222)	17,600	999
Net cash provided by operating activities	1,033,184	537,422	172,353
INVESTING ACTIVITIES
Purchases of property and equipment	(89,365)	(81,025)	(51,017)
Proceeds from sales of property and equipment	34	12	8
Net cash used in investing activities	(89,331)	(81,013)	(51,009)
FINANCING ACTIVITIES
Loan origination costs on revolving credit facilities	—	(1,537)	—
Proceeds from issuance of stock	2,444	2,170	1,991
Proceeds from exercise of stock options	4,786	4,396	1,204
Repurchases of common stock	(414,931)	(297,372)	(356,653)
Cash paid for shares withheld for taxes	(9,974)	(16,688)	(14,024)
Net cash used in financing activities	(417,675)	(309,031)	(367,482)
Effect of foreign currency exchange rates on cash and cash equivalents	(5,922)	(9,110)	304
Net change in cash and cash equivalents	520,256	138,268	(245,834)
Cash and cash equivalents at beginning of period	981,795	843,527	1,089,361
Cash and cash equivalents at end of period	$1,502,051	$981,795	$843,527

CONSOLIDATED STATEMENTS OF CASH FLOWS

(continued)

	Years Ended March 31,
	2024	2023	2022
SUPPLEMENTAL CASH FLOW DISCLOSURE
Cash paid during the period
Income taxes	$234,062	$135,986	$192,090
Interest	1,783	1,880	1,842
Operating leases	65,672	60,353	55,588
Non-cash investing activities
Changes in accounts payable and other accrued expenses for purchases of property and equipment	(6,705)	5,325	2,797
Accrued for asset retirement obligation assets related to leasehold improvements	2,278	8,203	3,900
Leasehold improvements acquired through tenant allowances	8,127	—	4,061
Non-cash financing activities
Accrued for shares withheld for taxes	22,287	5,371	8,435
Accrued excise taxes related to repurchases of common stock	3,416	569	—

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