KinderCare Learning Companies, Inc.
For the period ended Dec 28, 2024. Filed Mar 21, 2025.
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FY2024 · Filed Mar 21, 2025
KLC$2.21-5.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
| Fiscal Years Ended | |||
|---|---|---|---|
| December 28, | December 30, | December 31, | |
| 2024 | 2023 | 2022 | |
| Operating activities: | |||
| Net (loss) income | $(92,840) | $102,558 | $219,169 |
| Adjustments to reconcile net (loss) income to cash provided by operating activities: | |||
| Depreciation and amortization | 117,606 | 109,045 | 88,507 |
| Impairment losses | 10,535 | 13,560 | 15,434 |
| Change in deferred taxes | (29,828) | (17,414) | 26,338 |
| Loss (gain) on extinguishment of long-term debt, net | 25,652 | 3,957 | (193) |
| Loss on extinguishment of indebtedness to related party | — | 472 | — |
| Amortization of debt issuance costs | 6,830 | 8,482 | 4,918 |
| Equity-based compensation | 144,082 | 12,557 | 9,874 |
| Realized and unrealized (gains) losses from investments held in deferred compensation asset trusts | (2,242) | (3,010) | 4,584 |
| (Gain) loss on disposal of property and equipment | (2,838) | 2,151 | 104 |
| Changes in assets and liabilities, net of effects of acquisitions: | |||
| Accounts receivable | (16,346) | (18,050) | 4,451 |
| Prepaid expenses and other current assets | (6,518) | 22,053 | 1,899 |
| Other assets | (1,604) | (1,329) | (30,459) |
| Accounts payable and accrued liabilities | (8,794) | (1,321) | (2,348) |
| Leases | 1,091 | 1,110 | (13,797) |
| Deferred revenue | 569 | 633 | (18,255) |
| Other current liabilities | (14,580) | 20,560 | 18,505 |
| Other long-term liabilities | (15,007) | 49,192 | 12,520 |
| Related party payables | 119 | (1,666) | 358 |
| Cash provided by operating activities | 115,887 | 303,540 | 341,609 |
| Investing activities: | |||
| Purchases of property and equipment | (132,322) | (129,045) | (139,425) |
| Payments for acquisitions, net of cash acquired | (10,920) | (10,244) | (157,623) |
| Proceeds from the disposal of property and equipment | 2,872 | 906 | 299 |
| Investments in deferred compensation asset trusts | (8,701) | (6,767) | (4,994) |
| Proceeds from deferred compensation asset trust redemptions | 1,833 | 1,573 | 2,014 |
| Proceeds from sale and leaseback, net of transaction costs | — | 25,917 | — |
| Cash used in investing activities | (147,238) | (117,660) | (299,729) |
| Financing activities: | |||
| Proceeds from initial public offering, net of underwriting discounts | 625,968 | — | — |
| Payments of deferred offering costs | (9,587) | — | — |
| Distribution to parent | (320,000) | — | — |
| Proceeds from issuance of long-term debt | 264,338 | 1,258,750 | — |
| Repayment of long-term debt | (608,000) | (1,310,881) | (20,000) |
| Repayment of indebtedness to related party | — | (56,328) | — |
| Principal payments of long-term debt | (11,890) | (6,256) | (11,772) |
| Payments of debt issuance costs | (1,184) | (7,320) | (807) |
| Issuance of promissory notes | — | — | 2,275 |
| Repayments of promissory notes | (421) | (951) | (12,968) |
| Repurchase of common stock | — | — | (72,666) |
| Payments of financing lease obligations | (1,631) | (1,734) | (1,721) |
| Tax payments related to net settlement of restricted stock units | (224) | — | — |
| Payments of contingent consideration for acquisitions | — | (10,217) | — |
| Cash used in financing activities | (62,631) | (134,937) | (117,659) |
| Net change in cash, cash equivalents, and restricted cash | (93,982) | 50,943 | (75,779) |
| Cash, cash equivalents, and restricted cash at beginning of period | 156,412 | 105,469 | 181,248 |
| Cash, cash equivalents, and restricted cash at end of period | $62,430 | $156,412 | $105,469 |
Consolidated Statements of Cash Flows (continued)
| Fiscal Years Ended | |||
|---|---|---|---|
| December 28, | December 30, | December 31, | |
| 2024 | 2023 | 2022 | |
| Reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheets: | |||
| Cash and cash equivalents | $62,336 | $156,147 | $105,206 |
| Restricted cash included within other assets | 94 | 265 | 263 |
| Total cash, cash equivalents, and restricted cash at end of period | $62,430 | $156,412 | $105,469 |
| Supplemental cash flow information: | |||
| Cash paid for interest | $126,257 | $138,920 | $96,077 |
| Cash paid for income taxes, net of refunds | 47,667 | 29,445 | 70,480 |
| Cash paid for amounts included in the measurement of operating lease liabilities | 292,863 | 284,073 | 262,551 |
| Non-cash operating activities: | |||
| Operating lease right-of-use assets obtained in exchange for operating lease liabilities | $181,648 | $99,051 | $101,598 |
| Reclassification of liability-classified stock options and restricted stock units to equity-classified | 12,940 | — | — |
| Deferred cloud computing implementation costs included in accounts payable and accrued liabilities and other current liabilities | 6,228 | — | — |
| Reclassification of equity-classified stock options and restricted stock units to liability-classified | — | 6,750 | — |
| Non-cash investing and financing activities: | |||
| Property and equipment additions included in accounts payable and accrued liabilities | $5,694 | $3,217 | $5,816 |
| Finance lease right-of-use assets obtained in exchange for finance lease liabilities | 110 | 3,119 | 255 |
| Reductions to finance lease right-of-use assets resulting from reductions to finance lease liabilities | — | 512 | — |
| Deferred offering costs included in accounts payable and accrued liabilities | 275 | — | — |
| Measurement period and other adjustments to reduce contingent consideration payable | — | 38 | — |
| Contingent consideration payable for acquisitions | — | — | 10,255 |
| Conversion of member's interests to common stock | — | — | 944 |
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