Designer Brands Inc
For the period ended Nov 2, 2024. Filed Dec 10, 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.
Nov 2, 2024 · Filed Dec 10, 2024
DBI$6.750.0%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
| Nine months ended | ||
|---|---|---|
| (unaudited and in thousands) | November 2, 2024 | October 28, 2023 |
| Cash flows from operating activities: | ||
| Net income | $28,181 | $58,833 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 48,575 | 47,801 |
| Stock-based compensation expense | 14,990 | 25,167 |
| Deferred income taxes | (405) | 875 |
| Income from equity investments | (9,019) | (6,972) |
| Distributions received from equity investments | 11,532 | 8,552 |
| Impairment charges | 17,756 | 649 |
| Other | 875 | (1,977) |
| Change in operating assets and liabilities, net of acquired amounts: | ||
| Accounts receivables | (35,549) | (21,462) |
| Income tax receivable | 44,476 | 997 |
| Inventories | (60,254) | 44,782 |
| Prepaid expenses and other current assets | 16,384 | 5,998 |
| Accounts payable | (55,202) | 57,374 |
| Accrued expenses | (788) | (6,926) |
| Operating lease assets and liabilities, net | (9,415) | (11,170) |
| Net cash provided by operating activities | 12,137 | 202,521 |
| Cash flows from investing activities: | ||
| Cash paid for property and equipment | (38,910) | (42,315) |
| Cash paid for business acquisitions | (16,144) | (127,496) |
| Other | 4,362 | — |
| Net cash used in investing activities | (50,692) | (169,811) |
| Cash flows from financing activities: | ||
| Borrowing on revolving credit facility | 1,089,662 | 955,622 |
| Payments on revolving credit facility | (976,623) | (906,087) |
| Proceeds from the issuance of the Term Loan | — | 50,000 |
| Payments for borrowings under Term Loan | (5,065) | — |
| Payments of debt issuance costs | — | (8,313) |
| Cash paid for treasury shares | (68,553) | (102,134) |
| Dividends paid | (8,088) | (9,337) |
| Cash paid for taxes for stock-based compensation shares withheld | (4,275) | (15,732) |
| Other | (903) | (117) |
| Net cash provided by (used in) financing activities | 26,155 | (36,098) |
| Effect of exchange rate changes on cash balances | (546) | (740) |
| Net decrease in cash and cash equivalents | (12,946) | (4,128) |
| Cash and cash equivalents, beginning of period | 49,173 | 58,766 |
| Cash and cash equivalents, end of period | $36,227 | $54,638 |
| Supplemental disclosures of cash flow information: | ||
| Net cash paid (received) for income taxes | $(46,882) | $16,515 |
| Cash paid for interest on debt | $31,288 | $18,536 |
| Cash paid for operating lease liabilities | $157,435 | $158,240 |
| Non-cash investing and financing activities: | ||
| Property and equipment purchases not yet paid | $5,113 | $5,098 |
| Operating lease liabilities arising from lease asset additions | $10,818 | $16,217 |
| Net increase to operating lease assets and lease liabilities for modifications | $100,678 | $150,699 |
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