Ulta Beauty Inc
For the period ended Feb 3, 2024. Filed Mar 26, 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 26, 2024
ULTA$664.41-0.1%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
| | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|
| · · Fiscal year ended | |||||||||
| · · February 3, · · January 28, · · January 29, | |||||||||
| (In thousands) · · 2024 · 2023 · 2022 | |||||||||
| Operating activities | | | | | | | | | |
| Net income | | $1,291,005 | | $1,242,408 | | $985,837 | |||
| Adjustments to reconcile net income to net cash provided by operating activities: | | | | | | | | | |
| Depreciation and amortization | | | 243,840 | | | 241,372 | | | 268,460 |
| Non-cash lease expense | | | 332,754 | | | 301,912 | | | 276,229 |
| Deferred income taxes | | | 30,575 | | | 15,653 | | | (25,666) |
| Stock-based compensation expense | | | 48,246 | | | 43,044 | | | 47,259 |
| Loss on disposal of property and equipment | | | 11,419 | | | 6,688 | | | 5,358 |
| Change in operating assets and liabilities: | | | | | | | | | |
| Receivables | | | (8,517) | | | 34,260 | | | (40,573) |
| Merchandise inventories | | | (138,685) | | | (104,233) | | | (331,003) |
| Prepaid expenses and other current assets | | | 14,648 | | | (19,432) | | | (3,412) |
| Income taxes | | | 45,367 | | | (45,182) | | | (35,652) |
| Accounts payable | | | (20,873) | | | 8,309 | | | 66,156 |
| Accrued liabilities | | | (62,238) | | | 48,249 | | | 58,598 |
| Deferred revenue | | | 41,914 | | | 41,098 | | | 79,196 |
| Operating lease liabilities | | | (338,105) | | | (324,500) | | | (303,914) |
| Other assets and liabilities | | | (15,084) | | | (7,731) | | | 12,392 |
| Net cash provided by operating activities | | | 1,476,266 | | | 1,481,915 | | | 1,059,265 |
| | | | | | | | | | |
| Investing activities | | | | | | | | | |
| Capital expenditures | | | (435,267) | | | (312,126) | | | (172,187) |
| Other investments | | | (6,158) | | | (2,458) | | | (4,297) |
| Net cash used in investing activities | | | (441,425) | | | (314,584) | | | (176,484) |
| | | | | | | | | | |
| Financing activities | | | | | | | | | |
| Borrowings from credit facility | | | 195,400 | | | — | | | — |
| Payments on credit facility | | | (195,400) | | | — | | | — |
| Repurchase of common shares | | | (995,738) | | | (900,033) | | | (1,521,925) |
| Stock options exercised | | | 12,176 | | | 46,011 | | | 40,386 |
| Purchase of treasury shares | | | (22,562) | | | (6,992) | | | (15,677) |
| Net cash used in financing activities | | | (1,006,124) | | | (861,014) | | | (1,497,216) |
| | | | | | | | | | |
| Effect of exchange rate changes on cash and cash equivalents | | | — | | | — | | | (56) |
| Net increase (decrease) in cash and cash equivalents | | | 28,717 | | | 306,317 | | | (614,491) |
| Cash and cash equivalents at beginning of year | | | 737,877 | | | 431,560 | | | 1,046,051 |
| Cash and cash equivalents at end of year | | $766,594 | | $737,877 | | $431,560 | |||
| | | | | | | | | | |
| Supplemental information | | | | | | | | | |
| Cash paid for interest | | $3,327 | | $2,138 | | $2,132 | |||
| Income taxes paid, net of refunds | | | 328,215 | | | 429,846 | | | 370,646 |
| Non-cash investing and financing activities: | | | | | | | | ||
| Non-cash capital expenditures | | | 61,757 | | | 69,591 | | | 39,874 |
| Repurchase of common shares in accrued liablities | | | 4,297 | | | — | | | — |
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