RH
For the period ended Feb 3, 2024. Filed Mar 28, 2024.
View on SEC.govAbout this filing
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 28, 2024
RH$134.82-1.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|
| · · YEAR ENDED | |||||||||
| · · FEBRUARY 3, · · JANUARY 28, · · JANUARY 29, | |||||||||
| · · 2024 · 2023 · 2022 | |||||||||
| · · (in thousands) | |||||||||
| CASH FLOWS FROM OPERATING ACTIVITIES | | | | | | | | | |
| Net income | | $127,561 | | $528,642 | | $688,546 | |||
| Adjustments to reconcile net income to net cash provided by operating activities: | | | | | | | |||
| Depreciation and amortization | | 118,989 | | | 108,588 | | | 96,022 | |
| Non-cash operating lease cost | | | 86,699 | | | 75,185 | | | 72,479 |
| Asset impairments | | | 8,339 | | | 24,186 | | | 9,630 |
| Amortization of debt discount | | — | | | — | | | 28,816 | |
| Stock-based compensation expense | | 39,384 | | | 43,546 | | | 48,478 | |
| Non-cash compensation related to consolidated variable interest entities | | | — | | | 4,470 | | | — |
| Non-cash finance lease interest expense | | | 33,822 | | | 32,051 | | | 26,412 |
| Deferred income taxes | | | 25,266 | | | (91,988) | | | (6,921) |
| Loss on extinguishment of debt | | | — | | | 169,578 | | | 29,138 |
| Share of equity method investments loss | | | 10,875 | | | 2,055 | | | 8,214 |
| Other non-cash items | | 7,362 | | | 5,809 | | | (4,709) | |
| Cash paid attributable to accretion of debt discount upon settlement of debt | | | — | | | — | | | (55,243) |
| Change in assets and liabilities: | | | | | | | | | |
| Accounts receivable | | 4,690 | | | (1,846) | | | 1,564 | |
| Merchandise inventories | | 47,274 | | | (77,193) | | | (190,074) | |
| Prepaid expense and other assets | | (65,658) | | | (102,521) | | | (49,555) | |
| Landlord assets under construction—net of tenant allowances | | (25,368) | | | (51,369) | | | (68,454) | |
| Accounts payable and accrued expenses | | (41,070) | | | (56,264) | | | 43,435 | |
| Deferred revenue and customer deposits | | (42,974) | | | (62,086) | | | 107,306 | |
| Other current liabilities | | (5,937) | | | (37,653) | | | (9,778) | |
| Current and non-current operating lease liabilities | | (95,634) | | | (76,968) | | | (77,252) | |
| Other non-current obligations | | (31,406) | | | (32,535) | | | (35,940) | |
| Net cash provided by operating activities | | 202,214 | | 403,687 | | 662,114 | |||
| CASH FLOWS FROM INVESTING ACTIVITIES | | | | | | | | ||
| Capital expenditures | | (269,356) | | | (173,642) | | | (185,383) | |
| Equity method investments | | (38,075) | | | (2,713) | | | (8,970) | |
| Proceeds from sale of asset | | — | | | 5,287 | | | — | |
| Net cash used in investing activities | | (307,431) | | (171,068) | | (194,353) | |||
| | |
|---|
RH
CONSOLIDATED STATEMENTS OF CASH FLOWS (continued)
| | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|
| · · YEAR ENDED | |||||||||
| · · FEBRUARY 3, · · JANUARY 28, · · JANUARY 29, | |||||||||
| · · 2024 · 2023 · 2022 | |||||||||
| · · (in thousands) | |||||||||
| CASH FLOWS FROM FINANCING ACTIVITIES · · · | |||||||||
| Borrowings under term loans | | | — | | | 500,000 | | | 2,000,000 |
| Repayments under term loans | | | (25,000) | | | (21,250) | | | (5,000) |
| Borrowings under real estate loans | | | — | | | 16,000 | | | — |
| Repayments under real estate loans | | | (26) | | | (10) | | | — |
| Repayments under promissory and equipment security notes | | (1,160) | | | (13,863) | | | (22,949) | |
| Repayments of convertible senior notes | | | (1,696) | | | (13,064) | | | (335,729) |
| Repayment under convertible senior notes repurchase obligation | | | — | | | (395,372) | | | — |
| Debt extinguishment costs | | | — | | | (8,059) | | | — |
| Debt issuance costs | | — | | | (28,069) | | | (26,411) | |
| Principal payments under finance lease agreements—net of tenant allowances | | | (13,972) | | | (10,146) | | | (14,158) |
| Proceeds from termination of convertible senior note hedges | | | — | | | 231,796 | | | — |
| Payments for termination of common stock warrants | | | — | | | (390,934) | | | — |
| Repurchases of common stock—inclusive of excise taxes paid | | | (1,252,899) | | | (1,000,000) | | | — |
| Proceeds from exercise of stock options | | 12,122 | | | 231,297 | | | 32,045 | |
| Tax withholdings related to issuance of stock-based awards | | | (400) | | | (803) | | | (20,671) |
| Net cash provided by (used in) financing activities | | (1,283,031) | | (902,477) | | 1,607,127 | |||
| Effects of foreign currency exchange rate translation | | 173 | | | (243) | | | (95) | |
| Net increase (decrease) in cash and cash equivalents, restricted cash and restricted cash equivalents | | (1,388,075) | | (670,101) | | 2,074,793 | |||
| Cash and cash equivalents, restricted cash and restricted cash equivalents | | | | | |||||
| Beginning of period—cash and cash equivalents | | 1,508,101 | | 2,177,889 | | | 100,446 | ||
| Beginning of period—restricted cash | | 3,662 | | — | | | — | ||
| Beginning of period—restricted cash equivalents (acquisition related escrow deposits) | | — | | | 3,975 | | | 6,625 | |
| Beginning of period—cash and cash equivalents, restricted cash and restricted cash equivalents | | $1,511,763 | | $2,181,864 | | $107,071 | |||
| End of period—cash and cash equivalents | | 123,688 | | 1,508,101 | | | 2,177,889 | ||
| End of period—restricted cash | | — | | 3,662 | | | — | ||
| End of period—restricted cash equivalents (acquisition related escrow deposits) | | — | | — | | | 3,975 | ||
| End of period—cash and cash equivalents, restricted cash and restricted cash equivalents | | $123,688 | | $1,511,763 | | $2,181,864 | |||
| Cash paid for interest | | $246,210 | | $133,821 | | $39,466 | |||
| Cash paid for taxes | | | 14,278 | | | 41,355 | | | 158,910 |
| | |
|---|
RH
CONSOLIDATED STATEMENTS OF CASH FLOWS (continued)
| | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|
| · · YEAR ENDED | |||||||||
| · · FEBRUARY 3, · · JANUARY 28, · · JANUARY 29, | |||||||||
| · · 2024 · 2023 · 2022 | |||||||||
| · · (in thousands) | |||||||||
| Non-cash transactions: · · · · · · | |||||||||
| Property and equipment additions in accounts payable and accrued expenses at period-end | | $40,775 | | $17,755 | | $14,651 | |||
| Landlord asset additions in accounts payable and accrued expenses at period-end | | | 3,841 | | | 1,229 | | | 13,180 |
| Excise tax from share repurchases in accounts payable and accrued expenses at period-end | | | 11,988 | | | 3,700 | | | — |
| Property and equipment additions acquired under real estate loans | | | — | | | 2,000 | | | — |
| Reclassification of assets from landlord assets under construction to finance lease right-of-use assets | | | — | | | 220,236 | | | 61,900 |
| Extinguishment of convertible senior notes related to repurchase obligation | | | — | | | (261,988) | | | — |
| Financing liability and embedded derivative arising from convertible senior notes repurchase | | | — | | | 405,577 | | | — |
| Shares issued on settlement of convertible senior notes | | | — | | | (14,705) | | | (901,379) |
| Shares received on exercise of call option under bond hedge upon settlement of convertible senior notes | | | — | | | 14,705 | | | 880,207 |
| Conversion of loan receivables into equity of consolidated variable interest entities | | | — | | | 27,096 | | | — |
| | |
|---|
RH
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.