TRACTOR SUPPLY CO DE
For the period ended Dec 30, 2023. Filed Feb 23, 2024.
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FY2023 · Filed Feb 23, 2024
TSCO$37.50+0.3%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
| Fiscal Year | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| (52 weeks) | (53 weeks) | (52 weeks) | |
| Cash flows from operating activities: | |||
| Net income | $1,107,226 | $1,088,712 | $997,114 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 393,049 | 343,062 | 270,158 |
| (Gain)/loss on disposition of property and equipment | (48,013) | 2,158 | 4,045 |
| Share-based compensation expense | 57,015 | 53,832 | 47,649 |
| Deferred income taxes | 6,172 | 51,693 | 29,149 |
| Change in assets and liabilities: | |||
| Inventories | 40,872 | (349,742) | (407,922) |
| Prepaid expenses and other current assets | 22,380 | (64,060) | (30,459) |
| Accounts payable | (218,829) | 162,335 | 179,534 |
| Accrued employee compensation | (31,498) | 6,433 | (10,083) |
| Other accrued expenses | (13,082) | (13,137) | 137,833 |
| Income taxes | (11,931) | 26,570 | (37,038) |
| Other | 30,672 | 49,123 | (41,260) |
| Net cash provided by operating activities | 1,334,033 | 1,356,979 | 1,138,720 |
| Cash flows from investing activities: | |||
| Capital expenditures | (753,883) | (773,369) | (628,431) |
| Proceeds from sale of property and equipment | 86,504 | 1,044 | 1,091 |
| Acquisition of Orscheln, net of cash acquired | — | (390,765) | — |
| Proceeds from sale of business assets | 14,310 | 69,364 | — |
| Net cash used in investing activities | (653,069) | (1,093,726) | (627,340) |
| Cash flows from financing activities: | |||
| Borrowings under debt facilities | 1,767,000 | 1,010,000 | — |
| Repayments under debt facilities | (1,195,000) | (832,000) | — |
| Debt discounts and issuance costs | (9,729) | — | — |
| Principal payments under finance lease liabilities | (4,808) | (4,058) | (4,580) |
| Repurchase of shares to satisfy tax obligations | (24,245) | (28,592) | (14,876) |
| Repurchase of common stock | (594,390) | (700,063) | (798,893) |
| Net proceeds from issuance of common stock | 24,397 | 25,535 | 82,249 |
| Cash dividends paid to stockholders | (449,620) | (409,603) | (239,006) |
| Net cash used in financing activities | (486,395) | (938,781) | (975,106) |
| Net increase/(decrease) in cash and cash equivalents | 194,569 | (675,528) | (463,726) |
| Cash and cash equivalents at beginning of period | 202,502 | 878,030 | 1,341,756 |
| Cash and cash equivalents at end of period | $397,071 | $202,502 | $878,030 |
| Supplemental disclosures of cash flow information: | |||
| Cash paid during the period for: | |||
| Interest, net of amounts capitalized | $56,315 | $26,367 | $23,601 |
| Income taxes cash paid | 325,222 | 239,129 | 291,665 |
| Supplemental disclosures of non-cash activities: | |||
| Non-cash accruals for property and equipment | $60,055 | $45,742 | $24,408 |
| Increase of operating lease assets and liabilities from new or modified leases | 628,991 | 416,457 | 678,092 |
| Increase of finance lease assets and liabilities from new or modified leases | 450 | 5,143 | 3,675 |
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