Groupon Inc
For the period ended Dec 31, 2023. Filed Mar 15, 2024.
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FY2023 · Filed Mar 15, 2024
GRPN$12.51-23.0%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
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Operating activities | |||
| Net income (loss) | $(52,934) | $(234,380) | $120,348 |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | |||
| Depreciation and amortization of property, equipment and software | 43,401 | 54,170 | 63,925 |
| Amortization of acquired intangible assets | 7,817 | 8,493 | 8,894 |
| Impairment of goodwill | — | 35,424 | — |
| Impairment of long-lived assets | — | 12,259 | — |
| Restructuring-related impairment | — | 2,949 | 7,651 |
| Stock-based compensation | 14,481 | 30,006 | 33,169 |
| Changes in fair value of investments | 25,751 | — | (95,623) |
| Deferred income taxes | 1,735 | 49,099 | (33,985) |
| (Gain) loss on early lease termination | (729) | (4,471) | — |
| Foreign currency translation adjustments reclassified into earnings | — | — | (32,273) |
| Foreign currency (gains) losses, net | (5,105) | 10,934 | 26,730 |
| Change in assets and liabilities: | |||
| Accounts receivable | (4,482) | (10,088) | 5,432 |
| Prepaid expenses and other current assets | 21,364 | 9,812 | (13,472) |
| Right-of-use assets - operating leases | 9,747 | 16,986 | 19,919 |
| Accounts payable | (44,594) | 37,540 | (10,302) |
| Accrued merchant and supplier payables | (18,286) | (39,428) | (133,849) |
| Accrued expenses and other current liabilities | (37,851) | (71,804) | (45,015) |
| Operating lease obligations | (27,149) | (30,295) | (31,801) |
| Payments for early lease terminations | (9,724) | — | — |
| Other, net | (1,427) | (13,193) | (13,706) |
| Net cash provided by (used in) operating activities | (77,985) | (135,987) | (123,958) |
| Investing activities | |||
| Purchases of property and equipment and capitalized software | (19,285) | (36,168) | (49,630) |
| Proceeds from sale or divestment of investment | 18,924 | — | 6,950 |
| Proceeds from sale of fixed assets | 1,489 | — | — |
| Acquisitions of intangible assets and other investing activities | (2,525) | (2,677) | (3,131) |
| Net cash provided by (used in) investing activities | (1,397) | (38,845) | (45,811) |
| Financing activities | |||
| Proceeds from borrowings under revolving credit agreement | — | 40,000 | — |
| Payments of borrowings under revolving credit agreement | (32,224) | (65,000) | (100,000) |
| Proceeds from issuance of 2026 convertible notes | — | — | 230,000 |
| Issuance costs for 2026 convertible notes and revolving credit agreement | (559) | (490) | (7,747) |
| Purchase of capped call transactions | — | — | (27,416) |
| Payments for the repurchase of Atairos convertible notes | — | — | (254,000) |
| Proceeds from the settlement of convertible note hedges | — | — | 2,315 |
| Payments for the settlement of warrants | — | — | (1,345) |
| Taxes paid related to net share settlements of stock-based compensation awards | (3,299) | (6,065) | (19,834) |
| Proceeds from stock option exercises and employee stock purchase plan | 2,932 | 1,105 | 1,128 |
| Payments of finance lease obligations | — | (687) | (5,302) |
| Other financing activities | (2,540) | (3,270) | (1,649) |
| Net cash provided by (used in) financing activities | (35,690) | (34,407) | (183,850) |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 1,014 | (8,548) | 2,017 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | (114,058) | (217,787) | (351,602) |
| Cash, cash equivalents and restricted cash, beginning of period (1) | 281,696 | 499,483 | 851,085 |
| Cash, cash equivalents and restricted cash, end of period (1) | $167,638 | $281,696 | $499,483 |
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Supplemental disclosure of cash flow information | |||
| Cash paid for interest | 6,624 | 5,940 | 13,866 |
| Income tax payments | $7,904 | $5,184 | $11,145 |
| Increase (decrease) in liabilities related to purchases of property and equipment and capitalized software | $(1,770) | $3,325 | $672 |
| Supplemental cash flow information on our leasing obligations | |||
| Cash paid for amounts included in the measurement of operating lease liabilities | 26,686 | 31,508 | 33,079 |
| Right-of-use assets obtained in exchange for operating lease liabilities | $973 | $2,635 | $683 |
(1)The following table provides a reconciliation of cash, cash equivalents and restricted cash shown above to amounts reported within the Consolidated Balance Sheets as of December 31, 2023, 2022 and 2021 (in thousands):
| December 31, 2023 | December 31, 2022 | December 31, 2021 | |
|---|---|---|---|
| Cash and cash equivalents | $141,563 | $281,279 | $498,726 |
| Restricted cash included in prepaid expenses and other current assets | 26,075 | 417 | 757 |
| Cash, cash equivalents and restricted cash | $167,638 | $281,696 | $499,483 |
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