TAPESTRY INC
For the period ended Dec 28, 2024. Filed Feb 6, 2025.
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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.
Dec 28, 2024 · Filed Feb 6, 2025
TPR$135.62-0.3%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
| Six Months Ended | ||
|---|---|---|
| December 28,2024 | December 30,2023 | |
| (millions) | ||
| (unaudited) | ||
| CASH FLOWS PROVIDED BY (USED IN) OPERATING ACTIVITIES | ||
| Net income (loss) | $497.0 | $517.3 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||
| Depreciation and amortization | 81.8 | 85.8 |
| Provision for bad debt | 1.3 | 2.2 |
| Loss on extinguishment of debt | 120.1 | — |
| Share-based compensation | 40.9 | 42.2 |
| Amortization of cloud computing arrangements | 28.6 | 26.8 |
| Deferred income taxes | 22.6 | 79.5 |
| Changes to lease related balances, net | (20.6) | (23.5) |
| Other non-cash charges, net | (37.8) | 20.6 |
| Changes in operating assets and liabilities: | ||
| Trade accounts receivable | (68.2) | (48.0) |
| Inventories | (116.7) | 103.8 |
| Accounts payable | 61.4 | 56.3 |
| Accrued liabilities | (11.7) | 87.0 |
| Other liabilities | 8.8 | (29.8) |
| Other assets | 18.0 | (18.4) |
| Net cash provided by (used in) operating activities | 625.5 | 901.8 |
| CASH FLOWS PROVIDED BY (USED IN) INVESTING ACTIVITIES | ||
| Purchases of investments | (1,885.5) | (611.3) |
| Proceeds from maturities and sales of investments | 2,921.4 | — |
| Purchases of property and equipment | (56.5) | (43.7) |
| Net cash provided by (used in) investing activities | 979.4 | (655.0) |
| CASH FLOWS PROVIDED BY (USED IN) FINANCING ACTIVITIES | ||
| Payment of dividends | (153.8) | (160.4) |
| Repurchase of common stock | (1,613.0) | — |
| Share repurchase not yet settled | (400.0) | — |
| Proceeds from issuance of debt, net of discount | 2,248.1 | 6,089.5 |
| Payment of debt issuance costs | (12.3) | (78.2) |
| Payment of debt extinguishment costs | (63.5) | — |
| Repayment of debt | (6,859.9) | (12.5) |
| Proceeds from share-based awards | 114.2 | 3.3 |
| Taxes paid to net settle share-based awards | (35.0) | (31.9) |
| Proceeds from revolving credit facility | 1,000.0 | — |
| Repayment of revolving credit facility | (1,000.0) | — |
| Payments of finance lease liabilities | (0.6) | (0.6) |
| Net cash provided by (used in) financing activities | (6,775.8) | 5,809.2 |
| Effect of exchange rate changes on cash and cash equivalents | 12.3 | 51.0 |
| Net (decrease) increase in cash and cash equivalents | (5,158.6) | 6,107.0 |
| Cash and cash equivalents at beginning of period | 6,142.0 | 726.1 |
| Cash and cash equivalents at end of period | $983.4 | $6,833.1 |
| Supplemental information: | ||
| Cash paid for income taxes, net | $106.0 | $93.0 |
| Cash paid for interest | $324.9 | $45.8 |
| Non-cash investing activity - property and equipment obligations | $19.3 | $19.0 |
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