UPBOUND GROUP INC
For the period ended Dec 31, 2024. Filed Feb 25, 2025.
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FY2024 · Filed Feb 25, 2025
UPBD$24.68+1.8%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Statements of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| (in thousands) | 2024 | 2023 | 2022 |
| Cash flows from operating activities | |||
| Net earnings (loss) | $123,478 | $(5,179) | $12,357 |
| Adjustments to reconcile net earnings (loss) to net cash provided by operating activities | |||
| Depreciation of rental merchandise | 1,302,571 | 1,160,579 | 1,229,136 |
| Bad debt expense | 19,350 | 25,869 | 24,658 |
| Stock-based compensation expense | 36,074 | 162,116 | 159,358 |
| Depreciation of property assets | 71,995 | 75,450 | 67,981 |
| (Gain) loss on sale or disposal of property assets | (2,158) | 568 | 6,080 |
| Amortization of intangibles | 46,382 | 58,022 | 65,890 |
| Amortization of financing fees | 5,322 | 6,374 | 6,409 |
| Write-off of debt financing fees | 4,817 | — | — |
| Deferred income taxes | (27,147) | (17,944) | (41,209) |
| Changes in operating assets and liabilities, net of effects of acquisitions | |||
| Rental merchandise | (1,328,899) | (1,272,043) | (1,047,687) |
| Receivables | (62,283) | (25,009) | (10,145) |
| Prepaid expenses and other assets | (3,946) | (4,188) | 17,398 |
| Operating lease right-of-use assets and lease liabilities | 3,713 | 487 | (1,952) |
| Accounts payable — trade | (61,770) | 21,800 | 19,783 |
| Accrued liabilities | (22,778) | 13,388 | (39,597) |
| Net cash provided by operating activities | 104,721 | 200,290 | 468,460 |
| Cash flows from investing activities | |||
| Purchase of property assets | (56,275) | (53,402) | (61,387) |
| Proceeds from sale of assets | 18,683 | 2,484 | 52 |
| Promissory loan issuance | (2,500) | — | — |
| Acquisitions of businesses | (1,413) | (39) | (995) |
| Net cash used in investing activities | (41,505) | (50,957) | (62,330) |
| Cash flows from financing activities | |||
| Share repurchases | — | (50,000) | (75,052) |
| Excise tax related to share repurchases(1) | (392) | — | — |
| Exercise of stock options | 1,799 | 2,386 | 1,786 |
| Shares withheld for payment of employee tax withholdings | (3,689) | (2,850) | (9,509) |
| Debt issuance costs | (5,186) | — | — |
| Proceeds from debt | 320,000 | 70,000 | 90,000 |
| Repayments of debt | (323,750) | (138,604) | (298,750) |
| Dividends paid | (82,299) | (83,056) | (79,188) |
| Net cash used in financing activities | (93,517) | (202,124) | (370,713) |
| Effect of exchange rate changes on cash | (2,544) | 2,355 | 391 |
| Net (decrease) increase in cash and cash equivalents | (32,845) | (50,436) | 35,808 |
| Cash and cash equivalents at beginning of year | 93,705 | 144,141 | 108,333 |
| Cash and cash equivalents at end of year | $60,860 | $93,705 | $144,141 |
| Supplemental cash flow information: | |||
| Cash paid during the year for: | |||
| Interest | $108,509 | $106,161 | $71,195 |
| Income taxes (excludes $751, $20,714, and $725 of income taxes refunded in 2024, 2023, and 2022, respectively) | $103,110 | $89,241 | $72,307 |
(1)Excise tax cash payment of$0.4 million during the year ended December 31, 2024 is related to share repurchases of$50.0 million during the year ended December 31, 2023.
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