HERBALIFE LTD
For the period ended Sep 30, 2024. Filed Oct 30, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Oct 30, 2024
HLF$15.59-0.7%Stored close · as of Nov 10, 2026
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Unaudited Condensed Consolidated Statements of Cash Flows
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
| Nine Months Ended | ||
|---|---|---|
| September 30,2024 | September 30,2023 | |
| (in millions) | ||
| Cash flows from operating activities: | ||
| Net income | $76.4 | $132.0 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 92.4 | 85.1 |
| Share-based compensation expenses | 36.7 | 35.7 |
| Non-cash interest expense | 9.4 | 5.5 |
| Deferred income taxes | (52.7) | (25.9) |
| Inventory write-downs | 17.0 | 21.9 |
| Foreign exchange transaction loss (gain) | 11.9 | (2.7) |
| Loss (gain) on extinguishment of debt | 10.5 | (1.0) |
| Other | 3.8 | 2.9 |
| Changes in operating assets and liabilities: | ||
| Receivables | (3.6) | (11.8) |
| Inventories | (41.7) | 62.9 |
| Prepaid expenses and other current assets | (3.7) | (24.5) |
| Accounts payable | 0.9 | (12.1) |
| Royalty overrides | (2.3) | (8.8) |
| Other current liabilities | 62.1 | 13.6 |
| Other | (1.3) | (11.4) |
| Net cash provided by operating activities | 215.8 | 261.4 |
| Cash flows from investing activities: | ||
| Purchases of property, plant, and equipment | (96.3) | (99.7) |
| Proceeds from sale and leaseback transaction, net of related expenses | 37.9 | — |
| Other | (0.6) | 0.1 |
| Net cash used in investing activities | (59.0) | (99.6) |
| Cash flows from financing activities: | ||
| Borrowings from senior secured credit facility and other debt, net of discount | 1,117.7 | 195.0 |
| Principal payments on senior secured credit facility and other debt | (1,655.0) | (278.1) |
| Repayment of convertible senior notes | (197.0) | (64.3) |
| Proceeds from senior secured notes, net of discount | 778.4 | — |
| Repayment of senior notes | (344.3) | — |
| Debt issuance costs | (22.4) | (1.8) |
| Share repurchases | (5.7) | (9.7) |
| Other | 2.0 | 2.3 |
| Net cash used in financing activities | (326.3) | (156.6) |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | (8.1) | (5.5) |
| Net change in cash, cash equivalents, and restricted cash | (177.6) | (0.3) |
| Cash, cash equivalents, and restricted cash, beginning of period | 595.5 | 516.3 |
| Cash, cash equivalents, and restricted cash, end of period | $417.9 | $516.0 |
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