TAPESTRY, INC.
For the period ended Jun 28, 2025. Filed Aug 14, 2025.
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FY2025 · Filed Aug 14, 2025
TPR$135.62-0.3%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Fiscal Year Ended | |||
|---|---|---|---|
| June 28,2025 | June 29,2024 | July 1,2023 | |
| (millions) | |||
| CASH FLOWS PROVIDED BY (USED IN) OPERATING ACTIVITIES | |||
| Net income (loss) | $183.2 | $816.0 | $936.0 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | |||
| Depreciation and amortization | 162.9 | 174.0 | 182.2 |
| Impairment charges | 854.8 | — | — |
| Provision for bad debt | 3.6 | 4.3 | 5.7 |
| Loss on extinguishment of debt | 120.1 | — | — |
| Share-based compensation | 87.3 | 85.9 | 78.8 |
| Amortization of cloud computing arrangements | 62.0 | 55.0 | 42.0 |
| Deferred income taxes | (139.8) | 2.5 | 41.2 |
| Changes to lease related balances, net | (35.0) | (42.6) | (36.0) |
| Other non-cash charges, net | (43.2) | (7.4) | (15.8) |
| Changes in operating assets and liabilities: | |||
| Trade accounts receivable | 8.8 | (37.3) | 44.1 |
| Inventories | (108.2) | 85.8 | 49.9 |
| Accounts payable | (15.0) | 49.1 | (98.1) |
| Accrued liabilities | 56.0 | 91.6 | (93.0) |
| Other liabilities | 3.9 | (21.2) | (61.1) |
| Other assets | 15.2 | (0.1) | (100.7) |
| Net cash provided by (used in) operating activities | 1,216.6 | 1,255.6 | 975.2 |
| CASH FLOWS PROVIDED BY (USED IN) INVESTING ACTIVITIES | |||
| Purchases of investments | (1,886.4) | (2,713.0) | (6.7) |
| Proceeds from maturities and sales of investments | 2,923.1 | 1,676.3 | 154.7 |
| Purchases of property and equipment | (122.7) | (108.9) | (184.2) |
| Settlement of net investment hedge | — | 103.7 | 41.9 |
| Net cash provided by (used in) investing activities | 914.0 | (1,041.9) | 5.7 |
| CASH FLOWS PROVIDED BY (USED IN) FINANCING ACTIVITIES | |||
| Payment of dividends | (299.3) | (321.4) | (283.3) |
| Repurchase of common stock | (1,718.7) | — | (703.5) |
| Share repurchase not yet settled | (300.0) | — | — |
| Proceeds from issuance of debt, net of discount | 2,248.1 | 6,089.5 | — |
| Payment of debt issuance costs | (13.4) | (78.3) | — |
| Payment of debt extinguishment costs | (63.5) | — | — |
| Proceeds from share-based awards | 156.1 | 27.3 | 38.8 |
| Repayment of debt | (7,163.3) | (468.8) | (31.2) |
| Taxes paid to net settle share-based awards | (36.5) | (32.7) | (55.6) |
| Proceeds from revolving credit facility | 1,016.5 | — | — |
| Repayment of revolving credit facility | (1,000.0) | — | — |
| Other financing activities | (1.2) | (1.2) | (1.1) |
| Net cash provided by (used in) financing activities | (7,175.2) | 5,214.4 | (1,035.9) |
| Effect of exchange rate changes on cash and cash equivalents | 26.3 | (12.2) | (8.7) |
| Net (decrease) increase in cash and cash equivalents, including cash classified within assets held for sale | (5,018.3) | 5,415.9 | (63.7) |
| Less: net (decrease) increase in cash classified within current assets held for sale | (23.7) | — | — |
| Net (decrease) increase in cash and cash equivalents | (5,042.0) | 5,415.9 | (63.7) |
| Cash and cash equivalents at beginning of year | 6,142.0 | 726.1 | 789.8 |
| Cash and cash equivalents at end of year | $1,100.0 | $6,142.0 | $726.1 |
| Supplemental information: | |||
| Cash paid for income taxes, net | $189.5 | $200.1 | $231.9 |
| Cash paid for interest | $394.9 | $262.8 | $82.6 |
| Non-cash investing activity – property and equipment obligations | $25.7 | $15.1 | $11.0 |
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