Designer Brands Inc.
For the period ended Feb 1, 2025. Filed Mar 24, 2025.
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FY2025 · Filed Mar 24, 2025
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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Item 8. Consolidated Statements of Cash Flows
| (in thousands) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Cash flows from operating activities: | |||
| Net income (loss) | $(9,975) | $29,216 | $162,666 |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
| Depreciation and amortization | 63,821 | 66,140 | 81,315 |
| Stock-based compensation expense | 18,658 | 29,374 | 28,502 |
| Deferred income taxes | (4,313) | 9,124 | (51,891) |
| Income from equity investments | (13,145) | (9,390) | (8,864) |
| Distributions received from equity investments | 12,254 | 10,353 | 8,850 |
| Impairment charges | 18,336 | 4,834 | 4,317 |
| Loss on extinguishment of debt and write-off of debt issuance costs | — | — | 12,862 |
| Other | 1,423 | 333 | 2,017 |
| Change in operating assets and liabilities, net of acquired amounts: | |||
| Accounts receivables | (15,392) | 3,345 | 7,962 |
| Income tax receivable | 44,476 | (455) | 118,219 |
| Inventories | (24,773) | 76,223 | (15,995) |
| Prepaid expenses and other current assets | 34,868 | (29,203) | (5,398) |
| Accounts payable | (20,903) | 36,113 | (92,728) |
| Accrued expenses | (15,245) | (29,884) | (20,098) |
| Operating lease assets and liabilities, net | (7,854) | (33,724) | (30,310) |
| Net cash provided by operating activities | 82,236 | 162,399 | 201,426 |
| Cash flows from investing activities: | |||
| Cash paid for property and equipment | (50,891) | (54,997) | (54,974) |
| Cash paid for business acquisitions | (16,144) | (127,496) | (19,062) |
| Equity investment in Le Tigre | — | — | (8,228) |
| Other | 4,362 | — | (5,853) |
| Net cash used in investing activities | (62,673) | (182,493) | (88,117) |
| Cash flows from financing activities: | |||
| Borrowing on revolving credit facility | 1,337,556 | 1,232,013 | 1,705,235 |
| Payments on revolving credit facility | (1,268,536) | (1,211,978) | (1,424,200) |
| Proceeds from the issuance of the Term Loan | — | 135,000 | — |
| Payments for borrowings under the Term Loan | (6,750) | (1,875) | — |
| Payments for borrowings and prepayment premium under Previous Term Loan | — | — | (238,196) |
| Payments of debt issuance costs | — | (10,701) | (2,316) |
| Cash paid for treasury shares | (68,553) | (102,188) | (147,549) |
| Dividends paid | (10,452) | (12,159) | (13,476) |
| Cash paid for taxes for stock-based compensation shares withheld | (4,421) | (17,481) | (7,915) |
| Other | (938) | (152) | (62) |
| Net cash provided by (used in) financing activities | (22,094) | 10,479 | (128,479) |
| Effect of exchange rate changes on cash balances | (1,890) | 22 | (523) |
| Net decrease in cash and cash equivalents | (4,421) | (9,593) | (15,693) |
| Cash and cash equivalents, beginning of period | 49,173 | 58,766 | 74,459 |
| Cash and cash equivalents, end of period | $44,752 | $49,173 | $58,766 |
| Supplemental disclosures of cash flow information: | |||
| Cash paid for interest on debt | $40,443 | $29,564 | $14,820 |
| Cash paid for operating lease liabilities | $205,226 | $230,059 | $222,956 |
| Non-cash investing and financing activities: | |||
| Property and equipment purchases not yet paid | $5,038 | $5,056 | $10,150 |
| Operating lease liabilities arising from lease asset additions | $13,703 | $22,826 | $23,496 |
| Net increase to operating lease assets and lease liabilities for modifications | $133,284 | $166,992 | $204,424 |
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