DECKERS OUTDOOR CORP

For the period ended Mar 31, 2025. Filed May 23, 2025.

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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.

FY2025 · Filed May 23, 2025

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,
	2025	2024	2023
OPERATING ACTIVITIES
Net income	$966,091	$759,563	$516,822
Reconciliation of net income to net cash provided by (used in) operating activities:
Depreciation, amortization, and accretion	69,353	57,587	47,858
Amortization on cloud computing arrangements	2,380	2,075	2,149
Loss on extinguishment of debt	—	—	226
Bad debt expense	5,032	789	1,983
Deferred tax benefit	(5,545)	(1,510)	(9,719)
Stock-based compensation	37,943	37,288	26,897
Loss on disposal of assets	3,183	407	2,691
Impairment of intangible assets	—	8,164	—
Impairment of cloud computing arrangements, operating lease, and other long-lived assets	4,290	1,015	2,817
Changes in operating assets and liabilities:
Trade accounts receivable, net	(41,339)	4,157	(806)
Inventories	(24,344)	58,541	(26,056)
Prepaid expenses and other current assets	20,946	(38,490)	(5,609)
Income tax receivable	6,945	(38,775)	13,459
Net operating lease assets and lease liabilities	(2,583)	(567)	(8,308)
Other assets	6,566	(9,989)	13,240
Trade accounts payable	35,636	119,601	(74,247)
Other accrued expenses	22,222	43,534	11,528
Income tax payable	(29,039)	35,016	4,897
Other long-term liabilities	(33,214)	(5,222)	17,600
Net cash provided by operating activities	1,044,523	1,033,184	537,422
INVESTING ACTIVITIES
Purchases of property and equipment	(86,171)	(89,365)	(81,025)
Proceeds from sale of assets	11,168	34	12
Net cash used in investing activities	(75,003)	(89,331)	(81,013)
FINANCING ACTIVITIES
Loan origination costs on revolving credit facilities	—	—	(1,537)
Proceeds from issuance of stock	3,804	2,444	2,170
Proceeds from exercise of stock options	968	4,786	4,396
Repurchases of common stock	(567,002)	(414,931)	(297,372)
Cash paid for excise taxes related to repurchases of common stock	(3,985)	—	—
Cash paid for shares withheld for taxes	(15,119)	(9,974)	(16,688)
Net cash used in financing activities	(581,334)	(417,675)	(309,031)
Effect of foreign currency exchange rates on cash and cash equivalents	(1,049)	(5,922)	(9,110)
Net change in cash and cash equivalents	387,137	520,256	138,268
Cash and cash equivalents at beginning of period	1,502,051	981,795	843,527
Cash and cash equivalents at end of period	$1,889,188	$1,502,051	$981,795

CONSOLIDATED STATEMENTS OF CASH FLOWS

(continued)

	Years Ended March 31,
	2025	2024	2023
SUPPLEMENTAL CASH FLOW DISCLOSURE
Cash paid during the period
Income taxes	$345,397	$234,062	$135,986
Interest	1,789	1,783	1,880
Operating leases	70,326	65,672	60,353
Non-cash investing activities
Changes in trade accounts payable and other accrued expenses for purchases of property and equipment	3,819	(6,705)	5,325
Accrued for asset retirement obligation assets related to leasehold improvements	2,233	2,278	8,203
Leasehold improvements acquired through tenant allowances	—	8,127	—
Non-cash financing activities
Accrued for shares withheld for taxes	17,148	22,287	5,371
Accrued excise taxes related to repurchases of common stock	5,043	3,416	569

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