lululemon athletica inc.
For the period ended Feb 2, 2025. Filed Mar 27, 2025.
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FY2025 · Filed Mar 27, 2025
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 | |||
|---|---|---|---|
| February 2,2025 | January 28,2024 | January 29,2023 | |
| Cash flows from operating activities | |||
| Net income | $1,814,616 | $1,550,190 | $854,800 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 446,524 | 379,384 | 291,791 |
| 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 | 90,011 | 93,560 | 78,075 |
| Derecognition of unredeemed gift card liability | (36,231) | (28,547) | (23,337) |
| Settlement of derivatives not designated in a hedging relationship | (47,763) | 32,527 | (38,649) |
| Deferred income taxes | 57,451 | (28,383) | 3,042 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | 1,626 | 6,580 | (58,987) |
| Inventories | (156,085) | 66,584 | (573,438) |
| Prepaid and receivable income taxes | (2,031) | 1,908 | (66,714) |
| Prepaid expenses and other current assets | (71,789) | 40,587 | (54,833) |
| Other non-current assets | (73,205) | (53,280) | (36,518) |
| Accounts payable | (57,044) | 177,367 | (107,280) |
| Accrued liabilities and other | 193,139 | (71,734) | 65,364 |
| Accrued compensation and related expenses | (112,110) | 70,327 | 47,254 |
| Current and non-current income taxes payable | 157,205 | (173,196) | 35,986 |
| Unredeemed gift card liability | 42,410 | 84,315 | 68,266 |
| Right-of-use lease assets and current and non-current lease liabilities | 23,501 | 37,535 | 23,905 |
| Other current and non-current liabilities | 2,488 | 12,230 | (2,925) |
| Net cash provided by operating activities | 2,272,713 | 2,296,164 | 966,463 |
| Cash flows from investing activities | |||
| Purchase of property and equipment | (689,232) | (651,865) | (638,657) |
| Settlement of net investment hedges | 50,213 | (1,609) | 47,804 |
| Acquisition, net of cash acquired | (154,146) | — | — |
| Other investing activities | (5,009) | (658) | 20,916 |
| Net cash used in investing activities | (798,174) | (654,132) | (569,937) |
| Cash flows from financing activities | |||
| Proceeds from settlement of stock-based compensation | 19,813 | 42,430 | 11,704 |
| Taxes paid related to net share settlement of stock-based compensation | (35,410) | (32,574) | (35,158) |
| Repurchase of common stock | (1,636,879) | (558,652) | (444,001) |
| Other financing activities | (32) | (32) | (32) |
| Net cash used in financing activities | (1,652,508) | (548,828) | (467,487) |
| Effect of foreign currency exchange rate changes on cash and cash equivalents | (81,666) | (4,100) | (34,043) |
| Increase (decrease) in cash and cash equivalents | (259,635) | 1,089,104 | (105,004) |
| Cash and cash equivalents, beginning of period | $2,243,971 | $1,154,867 | $1,259,871 |
| Cash and cash equivalents, end of period | $1,984,336 | $2,243,971 | $1,154,867 |
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