Petco Health Wellness Company Inc

For the period ended Feb 3, 2024. Filed Apr 3, 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 Apr 3, 2024

WOOF$2.93-5.5%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

CONSOLIDATED STATEM ENTS OF CASH FLOWS

	Fiscal years ended
	February 3,2024	January 28,2023	January 29,2022
	(53 weeks)	(52 weeks)	(52 weeks)
Cash flows from operating activities:
Net (loss) income	$(1,280,210)	$89,910	$159,805
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	200,782	193,828	172,431
Amortization of debt discounts and issuance costs	4,972	4,940	5,796
Provision for deferred taxes	(53,549)	(893)	37,741
Equity-based compensation expense	81,859	60,784	49,265
Impairments, write-offs and losses on sale of fixed and other assets	2,833	1,992	10,918
Loss on extinguishment and modification of debt	920	—	20,838
Income from equity method investees	(16,188)	(12,976)	(10,883)
Amounts reclassified out of accumulated other comprehensive (loss) income (Note 8)	(488)	168	—
Goodwill impairment	1,222,524	—	—
Non-cash operating lease costs	429,056	422,792	422,465
Other non-operating (income) loss	(4,727)	12,667	(34,497)
Changes in assets and liabilities:
Receivables	5,211	6,038	(13,791)
Merchandise inventories	(32,072)	22,681	(136,404)
Prepaid expenses and other assets	(8,009)	(5,933)	(17,664)
Accounts payable and book overdrafts	103,919	(22,763)	71,775
Accrued salaries and employee benefits	11,347	(51,427)	10,679
Accrued expenses and other liabilities	(8,495)	13,616	42,899
Operating lease liabilities	(446,981)	(386,259)	(418,210)
Other long-term liabilities	3,015	(3,162)	(14,948)
Net cash provided by operating activities	215,719	346,003	358,215
Cash flows from investing activities:
Cash paid for fixed assets	(225,598)	(278,020)	(239,110)
Cash paid for acquisitions, net of cash acquired (Note 3)	(6,725)	(9,640)	(4,334)
Cash paid for interest in veterinary joint venture (Note 1)	—	(35,000)	—
Proceeds from investments	24,878	—	6,135
Proceeds from sale of assets	—	2,336	226
Net cash used in investing activities	(207,445)	(320,324)	(237,083)
Cash flows from financing activities:
Borrowings under long-term debt agreements	273,000	123,000	1,700,000
Repayments of long-term debt	(348,000)	(140,000)	(1,690,861)
Debt refinancing costs	—	—	(24,665)
Payments for finance lease liabilities	(5,925)	(5,083)	(3,564)
Proceeds from employee stock purchase plan and stock option exercises	4,223	3,796	4,185
Tax withholdings on stock-based awards	(8,650)	(15,555)	(33)
Payment of offering costs	—	—	(3,844)
Net cash used in financing activities	(85,352)	(33,842)	(18,782)
Net (decrease) increase in cash, cash equivalents and restricted cash	(77,078)	(8,163)	102,350
Cash, cash equivalents and restricted cash at beginning of year	213,727	221,890	119,540
Cash, cash equivalents and restricted cash at end of year	$136,649	$213,727	$221,890
Supplemental cash flow disclosures:
Interest paid, net	$142,114	$89,285	$64,545
Capitalized interest	$1,260	$1,480	$1,003
Income taxes paid	$32,192	$14,443	$16,092
Supplemental non-cash investing and financing activities disclosures:
Accounts payable and accrued expenses for capital expenditures	$18,888	$29,051	$36,935
Accrued tax withholdings on stock-based awards	$809	$—	$6,552

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