Aramark
For the period ended Dec 29, 2023. Filed Feb 6, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Dec 29, 2023 · Filed Feb 6, 2024
ARMK$54.22-0.9%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
Condensed Consolidated Statements of Cash Flows
| Three Months Ended | ||
|---|---|---|
| December 29, 2023 | December 30, 2022 | |
| Cash flows from operating activities of Continuing Operations: | ||
| Net income from Continuing Operations | $28,517 | $37,998 |
| Adjustments to reconcile Net income from Continuing Operations to Net cash used in operating activities of Continuing Operations | ||
| Depreciation and amortization | 105,544 | 102,597 |
| Asset write-downs | — | 18,316 |
| Reduction of contingent consideration liability (see Note 13) | — | (29,941) |
| Deferred income taxes | 1,175 | 12,806 |
| Share-based compensation expense | 13,654 | 20,574 |
| Changes in operating assets and liabilities: | ||
| Receivables | (209,339) | (100,528) |
| Inventories | 33,303 | 6,868 |
| Prepayments and Other Current Assets | (7,864) | 4,549 |
| Accounts Payable | (180,799) | (254,225) |
| Accrued Expenses | (460,413) | (415,251) |
| Payments made to clients on contracts | (45,075) | (33,868) |
| Other operating activities | 64,220 | 14,357 |
| Net cash used in operating activities of Continuing Operations | (657,077) | (615,748) |
| Cash flows from investing activities of Continuing Operations: | ||
| Purchases of property and equipment and other | (115,621) | (88,904) |
| Disposals of property and equipment | 4,420 | 3,347 |
| Acquisition of certain businesses, net of cash acquired | (83,316) | (3,505) |
| Other investing activities | (3,451) | 17,874 |
| Net cash used in investing activities of Continuing Operations | (197,968) | (71,188) |
| Cash flows from financing activities of Continuing Operations: | ||
| Proceeds from long-term borrowings | 228,221 | 301,790 |
| Payments of long-term borrowings | (1,538,997) | (19,415) |
| Net change in funding under the Receivables Facility | 600,000 | 395,065 |
| Payments of dividends | (24,915) | (28,566) |
| Proceeds from issuance of common stock | 4,496 | 28,198 |
| Other financing activities | (47,808) | (14,538) |
| Net cash (used in) provided by financing activities of Continuing Operations | (779,003) | 662,534 |
| Discontinued Operations: | ||
| Net cash provided by operating activities | — | 8,543 |
| Net cash used in investing activities | — | (12,936) |
| Net cash used in financing activities | — | (5,476) |
| Net cash used in Discontinued Operations | — | (9,869) |
| Effect of foreign exchange rates on cash and cash equivalents and restricted cash | 5,334 | 11,661 |
| Decrease in cash and cash equivalents and restricted cash | (1,628,714) | (22,610) |
| Cash and cash equivalents and restricted cash, beginning of period | 1,972,367 | 365,431 |
| Cash and cash equivalents and restricted cash, end of period | $343,653 | $342,821 |
| Supplemental disclosure of cash flow information | Three Months Ended | |
|---|---|---|
| (in millions) | December 29, 2023 | December 30, 2022 |
| Interest paid | $111.5 | $113.5 |
| Income taxes paid | 45.4 | 12.0 |
The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the consolidated Balance Sheets:
| Balance Sheet classification | Three Months Ended | |
|---|---|---|
| (in thousands) | December 29, 2023 | December 30, 2022 |
| Cash and cash equivalents | $295,597 | $288,228 |
| Restricted cash in Prepayments and other current assets | 48,056 | 37,771 |
| Cash and cash equivalents in Current assets of discontinued operations | — | 16,822 |
| Total cash and cash equivalents and restricted cash | $343,653 | $342,821 |
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