TAPESTRY INC
For the period ended Sep 28, 2024. Filed Nov 7, 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 28, 2024 · Filed Nov 7, 2024
TPR$135.62-0.3%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows
| Three Months Ended | ||
|---|---|---|
| September 28,2024 | September 30,2023 | |
| (millions) | ||
| (unaudited) | ||
| CASH FLOWS PROVIDED BY (USED IN) OPERATING ACTIVITIES | ||
| Net income (loss) | $186.6 | $195.0 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||
| Depreciation and amortization | 40.9 | 44.3 |
| Provision for bad debt | 0.3 | 0.4 |
| Share-based compensation | 19.1 | 19.7 |
| Amortization of cloud computing arrangements | 14.0 | 13.4 |
| Deferred income taxes | 12.2 | 36.6 |
| Changes to lease related balances, net | (10.3) | (11.5) |
| Other non-cash charges, net | (20.8) | 4.5 |
| Changes in operating assets and liabilities: | ||
| Trade accounts receivable | (53.7) | (55.6) |
| Inventories | (181.4) | (29.8) |
| Accounts payable | 92.9 | (28.4) |
| Accrued liabilities | 32.0 | (62.0) |
| Other liabilities | (0.8) | (8.2) |
| Other assets | (11.5) | (43.1) |
| Net cash provided by (used in) operating activities | 119.5 | 75.3 |
| CASH FLOWS PROVIDED BY (USED IN) INVESTING ACTIVITIES | ||
| Purchases of investments | (1,479.2) | (1.9) |
| Proceeds from maturities and sales of investments | 1,694.9 | — |
| Purchases of property and equipment | (25.6) | (20.9) |
| Net cash provided by (used in) investing activities | 190.1 | (22.8) |
| CASH FLOWS PROVIDED BY (USED IN) FINANCING ACTIVITIES | ||
| Payment of dividends | (81.4) | (80.2) |
| Payment of debt issuance costs | — | (31.4) |
| Proceeds from share-based awards | 41.7 | 0.4 |
| Repayment of debt | — | (6.3) |
| Taxes paid to net settle share-based awards | (34.5) | (31.6) |
| Payments of finance lease liabilities | (0.3) | (0.3) |
| Net cash provided by (used in) financing activities | (74.5) | (149.4) |
| Effect of exchange rate changes on cash and cash equivalents | 85.8 | (7.1) |
| Net (decrease) increase in cash and cash equivalents | 320.9 | (104.0) |
| Cash and cash equivalents at beginning of period | 6,142.0 | 726.1 |
| Cash and cash equivalents at end of period | $6,462.9 | $622.1 |
| Supplemental information: | ||
| Cash paid for income taxes, net | $64.8 | $41.9 |
| Cash paid for interest | $24.0 | $27.3 |
| Noncash investing activity - property and equipment obligations | $18.2 | $10.2 |
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