Designer Brands Inc
For the period ended Feb 3, 2024. Filed Mar 25, 2024.
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.
FY2024 · Filed Mar 25, 2024
DBI$6.750.0%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
| (in thousands) | 2023 | 2022 | 2021 |
|---|---|---|---|
| Cash flows from operating activities: | |||
| Net income | $29,216 | $162,666 | $154,481 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 66,140 | 81,315 | 77,923 |
| Stock-based compensation expense | 29,374 | 28,502 | 23,923 |
| Deferred income taxes | 9,124 | (51,891) | (1,001) |
| Income from equity investments | (9,390) | (8,864) | (8,986) |
| Distributions received from equity investments | 10,353 | 8,850 | 12,006 |
| Impairment charges | 4,834 | 4,317 | 1,720 |
| Loss on extinguishment of debt and write-off of debt issuance costs | — | 12,862 | — |
| Other | 333 | 2,017 | 2,775 |
| Change in operating assets and liabilities, net of acquired amounts: | |||
| Accounts receivables | 3,345 | 7,962 | 8,703 |
| Income tax receivable | (455) | 118,219 | (12,415) |
| Inventories | 76,223 | (15,995) | (113,248) |
| Prepaid expenses and other current assets | (29,203) | (5,398) | (3,859) |
| Accounts payable | 36,113 | (92,728) | 92,894 |
| Accrued expenses | (29,884) | (20,098) | 10,735 |
| Operating lease assets and liabilities, net | (33,724) | (30,310) | (74,222) |
| Net cash provided by operating activities | 162,399 | 201,426 | 171,429 |
| Cash flows from investing activities: | |||
| Cash paid for property and equipment | (54,997) | (54,974) | (33,030) |
| Cash paid for business acquisition | (127,496) | (19,062) | — |
| Equity investment in Le Tigre | — | (8,228) | — |
| Other | — | (5,853) | (1,998) |
| Net cash used in investing activities | (182,493) | (88,117) | (35,028) |
| Cash flows from financing activities: | |||
| Borrowing on revolving credit facility | 1,232,013 | 1,705,235 | 349,653 |
| Payments on revolving credit facility | (1,211,978) | (1,424,200) | (449,653) |
| Proceeds from the issuance of the Term Loan | 135,000 | — | — |
| Payments for borrowings under the Term Loan | (1,875) | — | — |
| Payments for borrowings and prepayment premium under Previous Term Loan | — | (238,196) | (12,500) |
| Payments of debt issuance costs | (10,701) | (2,316) | — |
| Cash paid for treasury shares | (102,188) | (147,549) | — |
| Dividends paid | (12,159) | (13,476) | — |
| Cash paid for taxes for stock-based compensation shares withheld | (17,481) | (7,915) | (8,694) |
| Other | (152) | (62) | (296) |
| Net cash provided by (used in) financing activities | 10,479 | (128,479) | (121,490) |
| Effect of exchange rate changes on cash balances | 22 | (523) | (33) |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | (9,593) | (15,693) | 14,878 |
| Cash, cash equivalents, and restricted cash, beginning of period | 58,766 | 74,459 | 59,581 |
| Cash, cash equivalents, and restricted cash, end of period | $49,173 | $58,766 | $74,459 |
| Supplemental disclosures of cash flow information: | |||
| Cash paid for interest on debt | $29,564 | $14,820 | $23,341 |
| Cash paid for operating lease liabilities | $230,059 | $222,956 | $273,080 |
| Non-cash investing and financing activities: | |||
| Property and equipment purchases not yet paid | $5,056 | $10,150 | $4,365 |
| Operating lease liabilities arising from lease asset additions | $22,826 | $23,496 | $15,123 |
| Net increase to operating lease assets and lease liabilities for modifications | $166,992 | $204,424 | $94,992 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.