MONRO INC
For the period ended Mar 30, 2024. Filed May 28, 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 May 28, 2024
MNRO$10.80-3.1%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
| (thousands) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Operating activities | |||
| Net income | $37,571 | $39,048 | $61,568 |
| Adjustments to reconcile net income to cash provided by operating activities: | |||
| Depreciation and amortization | 72,204 | 77,037 | 81,169 |
| Share-based compensation expense | 4,308 | 5,651 | 4,330 |
| Gain on disposal of assets | (1,187) | (4,668) | (932) |
| Gain on divestiture | — | (2,394) | — |
| Impairment of long-lived assets | 1,915 | 982 | 759 |
| Deferred income tax expense | 9,031 | 4,242 | 14,019 |
| Change in operating assets and liabilities (excluding acquisitions and divestitures) | |||
| Accounts receivable | 1,556 | (2,483) | 527 |
| Inventories | (6,354) | (18,205) | (2,390) |
| Other current assets | (7,356) | (8,962) | (6,679) |
| Other non-current assets | 46,028 | 36,841 | 31,115 |
| Accounts payable | (9,784) | 129,735 | 19,611 |
| Accrued expenses | 14,929 | (2,651) | (3,984) |
| Federal and state income taxes payable | 339 | (2,380) | 13,765 |
| Other long-term liabilities | (37,827) | (36,403) | (38,674) |
| Long-term income taxes payable | (177) | (374) | (445) |
| Cash provided by operating activities | 125,196 | 215,016 | 173,759 |
| Investing activities | |||
| Capital expenditures | (25,480) | (38,990) | (27,830) |
| Acquisitions, net of cash acquired | — | (6,685) | (83,333) |
| Proceeds from divestiture | — | 56,586 | — |
| Deferred proceeds received from divestiture | 20,596 | 8,671 | — |
| Proceeds from the disposal of assets | 2,953 | 7,220 | 1,240 |
| Other | (25) | (256) | 122 |
| Cash (used for) provided by investing activities | (1,956) | 26,546 | (109,801) |
| Financing activities | |||
| Proceeds from borrowings | 155,568 | 156,795 | 166,276 |
| Principal payments on long-term debt, finance leases and financing obligations | (197,599) | (267,804) | (219,219) |
| Repurchase of stock | (44,044) | (96,919) | — |
| Exercise of stock options | 17 | 733 | 2,144 |
| Dividends paid | (35,505) | (36,404) | (34,674) |
| Deferred financing costs | — | (1,027) | (497) |
| Cash used for financing activities | (121,563) | (244,626) | (85,970) |
| Increase (decrease) in cash and equivalents | 1,677 | (3,064) | (22,012) |
| Cash and equivalents at beginning of period | 4,884 | 7,948 | 29,960 |
| Cash and equivalents at end of period | $6,561 | $4,884 | $7,948 |
| Supplemental information | |||
| Interest paid, net | $19,882 | $22,857 | $24,312 |
| Income taxes paid, net of (refund) | 5,283 | 16,936 | (11,611) |
| Leased assets (reduced) obtained in exchange for (reduced) new finance lease liabilities | (5,258) | (11,156) | 8,833 |
| Leased assets obtained in exchange for new operating lease liabilities | 28,652 | 30,142 | 12,401 |
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