lululemon athletica inc
For the period ended Jan 28, 2024. Filed Mar 21, 2024.
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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 21, 2024
LULU$110.37-1.9%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
(Amounts in thousands)
| Fiscal Year Ended | |||
|---|---|---|---|
| January 28,2024 | January 29,2023 | January 30,2022 | |
| Cash flows from operating activities | |||
| Net income | $1,550,190 | $854,800 | $975,322 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 379,384 | 291,791 | 224,206 |
| lululemon Studio obsolescence provision | 23,709 | 62,928 | — |
| Impairment of goodwill and other assets, restructuring costs | 74,501 | 407,913 | — |
| Gain on disposal of assets | — | (10,180) | — |
| Stock-based compensation expense | 93,560 | 78,075 | 69,137 |
| Derecognition of unredeemed gift card liability | (28,547) | (23,337) | (18,699) |
| Settlement of derivatives not designated in a hedging relationship | 32,527 | (38,649) | 15,191 |
| Deferred income taxes | (28,383) | 3,042 | (5,180) |
| Changes in operating assets and liabilities: | |||
| Inventories | 66,584 | (573,438) | (323,609) |
| Prepaid and receivable income taxes | 1,908 | (66,714) | 20,108 |
| Prepaid expenses and other current assets | 47,167 | (113,820) | (82,404) |
| Other non-current assets | (53,280) | (36,518) | (17,556) |
| Accounts payable | 177,367 | (107,280) | 117,655 |
| Accrued liabilities and other | (71,734) | 65,364 | 103,878 |
| Accrued compensation and related expenses | 70,327 | 47,254 | 75,273 |
| Current and non-current income taxes payable | (173,196) | 35,986 | 120,778 |
| Unredeemed gift card liability | 84,315 | 68,266 | 71,441 |
| Right-of-use lease assets and current and non-current lease liabilities | 37,535 | 23,905 | 13,494 |
| Other current and non-current liabilities | 12,230 | (2,925) | 30,073 |
| Net cash provided by operating activities | 2,296,164 | 966,463 | 1,389,108 |
| Cash flows from investing activities | |||
| Purchase of property and equipment | (651,865) | (638,657) | (394,502) |
| Settlement of net investment hedges | (1,609) | 47,804 | (23,389) |
| Other investing activities | (658) | 20,916 | (10,000) |
| Net cash used in investing activities | (654,132) | (569,937) | (427,891) |
| Cash flows from financing activities | |||
| Proceeds from settlement of stock-based compensation | 42,430 | 11,704 | 18,194 |
| Shares withheld related to net share settlement of stock-based compensation | (32,574) | (35,158) | (49,809) |
| Repurchase of common stock | (558,652) | (444,001) | (812,602) |
| Other financing activities | (32) | (32) | (770) |
| Net cash used in financing activities | (548,828) | (467,487) | (844,987) |
| Effect of foreign currency exchange rate changes on cash and cash equivalents | (4,100) | (34,043) | (6,876) |
| Increase (decrease) in cash and cash equivalents | 1,089,104 | (105,004) | 109,354 |
| Cash and cash equivalents, beginning of period | $1,154,867 | $1,259,871 | $1,150,517 |
| Cash and cash equivalents, end of period | $2,243,971 | $1,154,867 | $1,259,871 |
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