COTY INC
For the period ended Jun 30, 2024. Filed Aug 20, 2024.
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FY2024 · Filed Aug 20, 2024
COTY$4.22+4.2%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows F-
| Year EndedJune 30, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||
| Net income | $109.4 | $523.2 | $267.7 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 421.1 | 426.7 | 516.4 |
| Non-cash lease expense | 61.6 | 63.6 | 78.5 |
| Asset impairment charges | — | — | 31.4 |
| Deferred income taxes | (9.8) | 56.3 | 12.1 |
| Provision (release) for bad debts | 2.7 | (18.9) | 20.5 |
| Provision for pension and other post-employment benefits | 8.6 | 8.5 | 12.7 |
| Share-based compensation | 88.8 | 135.9 | 195.5 |
| Gain on sale of business in discontinued operations and other business divestiture | — | — | (6.1) |
| Losses (gains) on disposals of long-lived assets and license terminations, net | 3.9 | (99.7) | (115.8) |
| Realized and unrealized gains from equity investments, net | (21.7) | (226.3) | (400.3) |
| Foreign exchange effects | 14.8 | 29.9 | (16.8) |
| Realized and unrealized losses (gains) on forward repurchase contracts, net | 76.3 | (196.9) | (16.1) |
| Other | 46.5 | 8.9 | 21.3 |
| Change in operating assets and liabilities: | |||
| Trade receivables | (104.5) | 36.8 | (77.2) |
| Inventories | 67.2 | (180.3) | (48.3) |
| Prepaid expenses and other current assets | (11.0) | (15.2) | (12.7) |
| Accounts payable | (19.4) | 138.4 | 140.5 |
| Accrued expenses and other current liabilities | 34.4 | (21.9) | 129.6 |
| Operating lease liabilities | (58.4) | (61.0) | (70.7) |
| Income and other taxes payable | (77.3) | 59.9 | 91.7 |
| Other noncurrent assets | (4.3) | (7.5) | (6.7) |
| Other noncurrent liabilities | (14.3) | (34.7) | (20.6) |
| Net cash provided by operating activities | 614.6 | 625.7 | 726.6 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||
| Capital expenditures | (245.2) | (222.8) | (174.1) |
| Net proceeds from license terminations, contingent consideration and sale of other long-lived assets | 19.0 | 104.6 | 213.2 |
| Return of capital from equity investments | — | — | 230.6 |
| Net cash (used in) provided by investing activities | (226.2) | (118.2) | 269.7 |
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||
| Net proceeds of short-term debt, original maturity less than three months | — | — | 0.6 |
| Proceeds from revolving loan facilities | 2,458.6 | 1,558.0 | 943.0 |
| Repayments of revolving loan facilities | (2,673.7) | (1,600.1) | (1,338.8) |
| Proceeds from issuance of other long term debt | 1,824.1 | — | 542.4 |
| Repayments of term loans and other long term debt | (1,936.5) | (226.1) | (868.3) |
| Proceeds from issuance of Class A Common Stock in connection with Global Offering, net of offering costs | 342.4 | — | — |
| Dividend payments on Class A Common Stock and Convertible Series B Preferred Stock | (13.4) | (13.7) | (57.2) |
| Proceeds from issuance of Class A Common Stock | 13.5 | 0.9 | — |
| Net payments for foreign currency contracts | (7.3) | (128.1) | (178.5) |
| Distributions to redeemable noncontrolling interests and noncontrolling interests | (24.0) | (17.3) | (16.9) |
| Settlement and other payments related to forward repurchase contracts | (242.6) | (26.4) | — |
| Purchase of remaining mandatorily redeemable financial interest | — | — | (7.1) |
|---|---|---|---|
| Payment of deferred financing fees | (47.1) | — | (39.6) |
| All other | (30.7) | (16.5) | (13.6) |
| Net cash used in financing activities | (336.7) | (469.3) | (1,034.0) |
| EFFECT OF EXCHANGE RATES ON CASH, CASH EQUIVALENTS AND RESTRICTED CASH | (14.9) | (18.2) | (8.9) |
| NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | 36.8 | 20.0 | (46.6) |
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH—Beginning of period | 283.8 | 263.8 | 310.4 |
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH—End of period | $320.6 | $283.8 | $263.8 |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION: | |||
| Cash paid during the year for interest | $205.7 | $229.1 | $215.4 |
| Cash paid during the year for income taxes, net of refunds received | 172.6 | 58.6 | 97.2 |
| SUPPLEMENTAL DISCLOSURE OF NONCASH FINANCING AND INVESTING ACTIVITIES: | |||
| Accrued capital expenditure additions | $108.0 | $107.8 | $100.1 |
| Non-cash exchange of forward repurchase contracts for treasury stock | 150.6 | — | — |
| Redemption of Series B Preferred Stock in exchange for Wella Equity Investment | — | — | 603.3 |
| Conversion of Series B Preferred Stock into Class A Common Stock | — | — | 429.5 |
| Non-cash Series B Preferred Stock dividends and deemed (contributions) dividends | — | — | (1.1) |
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