G III APPAREL GROUP LTD /DE/

For the period ended Jan 31, 2025. Filed Mar 24, 2025.

About 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.

FY2025 · Filed Mar 24, 2025

GIII$32.20-0.6%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows


· · Year Ended January 31,
· 2025 · 2024 · 2023
· · (In thousands)
Cash flows from operating activities
Net income (loss) attributable to G-III Apparel Group, Ltd.	$193,566	$176,168	$(133,061)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities, net of assets and liabilities acquired:
Depreciation and amortization	27,444	27,523	27,762
Loss on disposal of fixed assets	388	102	210
Non-cash operating lease costs	58,485	58,804	54,492
Asset impairments	8,195	6,758	349,686
Equity loss (gain) in unconsolidated affiliates	1,930	5,607	(674)
Change in fair value of equity investment	—	(1,009)	(1,258)
Share-based compensation	28,894	17,164	32,475
Deferred financing charges and debt discount amortization	2,315	7,090	10,239
Extinguishment of deferred financing costs	1,598	—	—
Deferred income taxes	11,981	3,744	(55,147)
Non-cash gain on fair value of prior minority ownership of Karl Lagerfeld	—	—	(27,071)
Changes in operating assets and liabilities:
Accounts receivable, net	(62,389)	112,600	(40,990)
Inventories	42,340	188,919	(163,671)
Income taxes, net	(5,121)	4,331	12,588
Prepaid expenses and other current assets	19,964	3,588	(11,398)
Other assets, net	(1,131)	5,860	1,520
Customer refund liabilities	(4,069)	(5,706)	2,972
Operating lease liabilities	(58,112)	(58,928)	(56,092)
Accounts payable, accrued expenses and other liabilities	50,123	34,967	(107,181)
Net cash provided by (used in) operating activities	316,401	587,582	(104,599)

Cash flows from investing activities
Operating lease assets initial direct costs	(1,772)	(52)	(84)
Investment in equity interest of private companies	(105,591)	(3,600)	(25,000)
Investment in equity securities	—	—	(22,378)
Sale of equity securities	—	—	22,434
Proceeds from sale of assets	729	—	—
Capital expenditures	(41,517)	(24,679)	(21,528)
Acquisition of KLH, net of cash acquired	—	—	(168,592)
Acquisition of other foreign business, net of cash acquired	—	—	(2,810)
Net cash used in investing activities	(148,151)	(28,331)	(217,958)

Cash flows from financing activities
Repayment of borrowings - revolving credit facility	(485,106)	(112,826)	(507,166)
Proceeds from borrowings - revolving credit facility	485,106	32,738	587,254
Repayment of borrowings - foreign facilities	(152,539)	(139,429)	(75,496)
Proceeds from borrowings - foreign facilities	138,979	136,850	83,794
Repayment of borrowings - senior secured notes	(400,000)	—	—
Repayment of borrowings - LVMH Note	—	(125,000)	—
Payment of financing costs	(4,400)	—	—
Purchase of treasury shares	(59,973)	(26,100)	(26,949)
Taxes paid for net share settlements	(7,576)	(10,866)	(9,805)
Net cash provided by (used in) financing activities	(485,509)	(244,633)	51,632

Foreign currency translation adjustments	(9,130)	1,559	(3,407)
Net increase (decrease) in cash and cash equivalents	(326,389)	316,177	(274,332)
Cash and cash equivalents at beginning of year	507,829	191,652	465,984
Cash and cash equivalents at end of year	$181,440	$507,829	$191,652
Supplemental disclosures of cash flow information
Cash payments:
Interest, net	$27,439	$30,237	$44,108
Income tax payments, net	$66,952	$57,856	$38,071
Excise tax liability related to stock repurchases	$636	$—	$—

G-III Apparel Group, Ltd. And Subsidiaries

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

January 31, 2025, 2024 and 2023

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.