RH
For the period ended Jan 31, 2026. Filed Apr 1, 2026.
View on SEC.govAbout this filing
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.
FY2026 · Filed Apr 1, 2026
RH$134.82-1.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|
| · · YEAR ENDED | |||||||||
| · · JANUARY 31, · · FEBRUARY 1, · · FEBRUARY 3, | |||||||||
| · · 2026 · · 2025 · · 2024 | |||||||||
| · · (in thousands) | |||||||||
| CASH FLOWS FROM OPERATING ACTIVITIES | | | | | | | | | |
| Net income | | $124,787 | | $72,412 | | $127,561 | |||
| Adjustments to reconcile net income to net cash provided by operating activities: | | | | | | | |||
| Depreciation and amortization | | 148,500 | | | 130,191 | | | 118,989 | |
| Non-cash operating lease cost | | | 105,447 | | | 96,406 | | | 86,699 |
| Stock-based compensation expense | | 43,882 | | | 44,185 | | | 39,384 | |
| Asset impairments | | | 4,635 | | | 37,570 | | | 8,339 |
| Non-cash finance lease interest expense | | | 40,093 | | | 31,896 | | | 33,822 |
| Deferred income taxes | | | 25,632 | | | (1,494) | | | 25,266 |
| Share of equity method investments net (income) loss | | | (5,008) | | | 11,380 | | | 10,875 |
| Distribution of return on equity method investment | | | 4,630 | | | — | | | — |
| Other non-cash items | | 8,827 | | | 9,097 | | | 7,362 | |
| Change in assets and liabilities: | | | | | | | | | |
| Accounts receivable | | 250 | | | (8,484) | | | 4,690 | |
| Merchandise inventories | | 213,776 | | | (268,573) | | | 47,274 | |
| Prepaid expense and other assets | | (53,860) | | | (19,392) | | | (65,658) | |
| Landlord assets under construction—net of tenant allowances | | (89,028) | | | (51,538) | | | (25,368) | |
| Accounts payable and accrued expenses | | (13,553) | | | 46,778 | | | (41,070) | |
| Deferred revenue and customer deposits | | 41,411 | | | 9,352 | | | (42,974) | |
| Other current liabilities | | (4,953) | | | (1,798) | | | (5,937) | |
| Current and non-current operating lease liabilities | | (105,039) | | | (90,334) | | | (95,634) | |
| Other non-current liabilities | | (38,188) | | | (30,559) | | | (31,406) | |
| Net cash provided by operating activities | | 452,241 | | 17,095 | | 202,214 | |||
| CASH FLOWS FROM INVESTING ACTIVITIES | | | | | | | | ||
| Capital expenditures | | (199,843) | | | (230,788) | | | (269,356) | |
| Acquisition of business | | | (32,119) | | | — | | | — |
| Equity method investments | | (374) | | | (9,621) | | | (38,075) | |
| Acquisition of intangible asset | | | (3,102) | | | — | | | — |
| Receipt of promissory note repayment from equity method investee | | | 1,750 | | | — | | | — |
| Distribution of return of equity method investment | | | 7,916 | | | — | | | — |
| Proceeds from insurance recoveries | | | 2,079 | | | — | | | — |
| Net cash used in investing activities | | (223,693) | | (240,409) | | (307,431) | |||
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RH
CONSOLIDATED STATEMENTS OF CASH FLOWS (continued)
| | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|
| · · YEAR ENDED | |||||||||
| · · JANUARY 31, · · FEBRUARY 1, · · FEBRUARY 3, | |||||||||
| · · 2026 · · 2025 · · 2024 | |||||||||
| · · (in thousands) | |||||||||
| CASH FLOWS FROM FINANCING ACTIVITIES · · · · · · | |||||||||
| Borrowings under asset based credit facility | | | 325,000 | | | 235,000 | | | — |
| Repayments under asset based credit facility | | | (505,000) | | | (35,000) | | | — |
| Repayments under term loans | | | (25,000) | | | (25,000) | | | (25,000) |
| Repayments of convertible senior notes | | | — | | | (41,904) | | | (1,696) |
| Debt issuance costs | | (3,339) | | | — | | | — | |
| Principal payments under finance lease agreements—net of tenant allowances | | | (13,036) | | | (20,752) | | | (13,972) |
| Repurchases of common stock—inclusive of excise taxes paid | | | — | | | (11,988) | | | (1,252,899) |
| Proceeds from exercise of stock options | | 4,389 | | | 30,904 | | | 12,122 | |
| Other financing activities | | | (2,411) | | | (674) | | | (1,586) |
| Net cash provided by (used in) financing activities | | (219,397) | | 130,586 | | (1,283,031) | |||
| Effects of foreign currency exchange rate translation on cash | | 1,627 | | | (547) | | | 173 | |
| Net increase (decrease) in cash and cash equivalents | | 10,778 | | (93,275) | | (1,388,075) | |||
| Cash and cash equivalents, restricted cash and restricted cash equivalents | | | | | | | |||
| Beginning of period—cash and cash equivalents | | 30,413 | | 123,688 | | | 1,508,101 | ||
| Beginning of period—restricted cash | | — | | — | | | 3,662 | ||
| Beginning of period—cash and cash equivalents and restricted cash | | $30,413 | | $123,688 | | $1,511,763 | |||
| End of period—cash and cash equivalents | | $41,191 | | $30,413 | | | 123,688 | ||
| Cash paid for interest | | $217,113 | | $219,686 | | $246,210 | |||
| Cash paid for income taxes (Note 13) | | | 12,795 | | | 21,080 | | | 14,278 |
| Non-cash transactions | | | | | | | |||
| Property and equipment additions in accounts payable and accrued expenses at period-end | | $19,092 | | $47,748 | | $40,775 | |||
| Landlord asset additions in accounts payable and accrued expenses at period-end | | | 21,213 | | | 10,030 | | | 3,841 |
| Excise tax from share repurchases in accounts payable and accrued expenses at period-end | | | — | | | — | | | 11,988 |
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RH
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