COSTAR GROUP INC
For the period ended Sep 30, 2024. Filed Oct 23, 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 23, 2024
CSGP$30.33-2.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| Nine Months EndedSeptember 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Operating activities: | ||
| Net income | $78.9 | $278.2 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 107.6 | 78.8 |
| Amortization of deferred commissions costs | 86.1 | 69.8 |
| Amortization of Senior Notes discount and issuance costs | 2.3 | 1.8 |
| Non-cash lease expense | 25.1 | 22.1 |
| Stock-based compensation expense | 67.3 | 63.8 |
| Deferred income taxes, net | (15.4) | (13.0) |
| Credit loss expense | 25.8 | 25.7 |
| Other operating activities, net | (0.6) | 0.3 |
| Changes in operating assets and liabilities, net of acquisitions: | ||
| Accounts receivable | (13.7) | (64.6) |
| Prepaid expenses and other current assets | (8.3) | (20.7) |
| Deferred commissions | (91.7) | (93.1) |
| Accounts payable and other liabilities | 57.9 | 21.1 |
| Lease liabilities | (29.9) | (26.8) |
| Income taxes payable, net | (1.7) | 4.4 |
| Deferred revenue | 8.2 | (6.1) |
| Other assets | 0.1 | (0.7) |
| Net cash provided by operating activities | 298.0 | 341.0 |
| Investing activities: | ||
| Proceeds from sale of property and equipment and other assets | 1.4 | — |
| Purchases of property, equipment, and other assets for new campuses | (509.6) | (61.8) |
| Purchases of property, equipment, and other assets | (49.5) | (14.2) |
| Cash paid for acquisitions, net of cash acquired | (5.1) | — |
| Net cash used in investing activities | (562.8) | (76.0) |
| Financing activities: | ||
| Repurchase of restricted stock to satisfy tax withholding obligations | (28.7) | (23.4) |
| Proceeds from exercise of stock options and employee stock purchase plan | 21.7 | 20.4 |
| Payments of debt issuance costs | (3.4) | — |
| Principal repayments of finance lease obligations | (3.4) | — |
| Net cash used in financing activities | (13.8) | (3.0) |
| Effect of foreign currency exchange rates on cash and cash equivalents | 0.3 | (0.1) |
| Net (decrease) increase in cash and cash equivalents | (278.3) | 261.9 |
| Cash and cash equivalents at the beginning of period | 5,215.9 | 4,968.0 |
| Cash and cash equivalents at the end of period | $4,937.6 | $5,229.9 |
| Supplemental cash flow disclosures: | ||
| Interest paid | $29.8 | $30.0 |
| Income taxes paid | $63.4 | $108.1 |
| Supplemental non-cash investing and financing activities: | ||
| Accrued capital expenditures and non-cash landlord incentives | $47.8 | $36.9 |
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