Science Applications International Corp
For the period ended Feb 2, 2024. Filed Mar 20, 2024.
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FY2024 · Filed Mar 20, 2024
SAIC$152.53+1.0%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
SCIENCE APPLICATIONS INTERNATIONAL CORPORATIONCONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended | |||
|---|---|---|---|
| February 2,2024 | February 3,2023 | January 28,2022 | |
| (in millions) | |||
| Cash flows from operating activities: | |||
| Net income | $477 | $303 | $279 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 142 | 157 | 165 |
| Amortization of off-market customer contracts | (5) | (14) | (33) |
| Amortization of debt issuance costs | 7 | 9 | 7 |
| Deferred income taxes | (17) | (17) | 59 |
| Stock-based compensation expense | 68 | 48 | 46 |
| Gain on divestitures | (247) | — | (2) |
| Impairment of assets | — | 4 | 18 |
| Other | (8) | — | — |
| Increase (decrease) resulting from changes in operating assets and liabilities, net of the effect of the acquisitions and divestitures: | |||
| Receivables | (46) | 79 | (31) |
| Inventory, prepaid expenses, and other current assets | (43) | (10) | 14 |
| Other assets | (14) | 6 | (3) |
| Accounts payable and accrued liabilities | 13 | (9) | 30 |
| Accrued payroll and employee benefits | 49 | (36) | 10 |
| Operating lease assets and liabilities, net | (4) | (3) | 5 |
| Other long-term liabilities | 24 | 15 | (46) |
| Net cash provided by operating activities | 396 | 532 | 518 |
| Cash flows from investing activities: | |||
| Expenditures for property, plant, and equipment | (27) | (25) | (36) |
| Purchases of marketable securities | (8) | (7) | (9) |
| Sales of marketable securities | 6 | 4 | 6 |
| Cash paid for acquisitions, net of cash acquired | — | — | (255) |
| Proceeds from divestitures | 356 | — | 8 |
| Cash divested upon deconsolidation of joint venture | (8) | — | — |
| Other | (5) | (8) | (6) |
| Net cash provided by (used in) investing activities | 314 | (36) | (292) |
| Cash flows from financing activities: | |||
| Dividend payments to stockholders | (79) | (83) | (86) |
| Principal payments on borrowings | (441) | (990) | (119) |
| Issuances of stock | 17 | 16 | 16 |
| Stock repurchased and retired or withheld for taxes on equity awards | (382) | (267) | (226) |
| Proceeds from borrowings | 160 | 840 | 116 |
| Debt issuance costs | — | (6) | — |
| Distributions to non-controlling interest | — | (3) | (2) |
| Net cash used in financing activities | (725) | (493) | (301) |
| Net (decrease) increase in cash, cash equivalents and restricted cash | (15) | 3 | (75) |
| Cash, cash equivalents and restricted cash at beginning of period | 118 | 115 | 190 |
| Cash, cash equivalents and restricted cash at end of period | $103 | $118 | $115 |
| See accompanying notes to consolidated financial statements. | |||
| Supplementary cash flow disclosure: | |||
| Cash paid for interest | $125 | $111 | $98 |
| Cash paid for income taxes | $165 | $70 | $7 |
| Non-cash investing and financing activities: | |||
| Increase (decrease) in accrued plan share repurchases | $4 | $(2) | $2 |
| Decrease in accrued property, plant, and equipment | $(1) | $(1) | $(2) |
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