GoDaddy Inc
For the period ended Dec 31, 2023. Filed Feb 29, 2024.
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FY2023 · Filed Feb 29, 2024
GDDY$113.13+1.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Operating activities | |||
| Net income | $1,375.6 | $352.9 | $242.8 |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
| Depreciation and amortization | 171.3 | 194.6 | 199.6 |
| Equity-based compensation | 296.3 | 264.4 | 207.9 |
| Loss (gain) on derivative instruments | (12.0) | 27.6 | 6.3 |
| Non-cash restructuring and other charges | 6.1 | 10.4 | 15.1 |
| Deferred taxes | (993.2) | (18.4) | (16.1) |
| Loss on dispositions | 16.5 | — | — |
| Other | 56.5 | 66.8 | 30.7 |
| Changes in operating assets and liabilities, net of amounts acquired: | |||
| Prepaid domain name registry fees | (41.9) | (34.7) | (37.8) |
| Accounts payable | 28.3 | 35.1 | 34.2 |
| Accrued expenses and other current liabilities | 56.2 | 11.3 | 40.9 |
| Deferred revenue | 149.2 | 101.6 | 190.7 |
| Other operating assets and liabilities | (61.3) | (31.9) | (85.0) |
| Net cash provided by operating activities | 1,047.6 | 979.7 | 829.3 |
| Investing activities | |||
| Purchases of short-term investments | (40.0) | — | — |
| Business acquisitions, net of cash acquired | — | (72.5) | (367.7) |
| Purchases of intangible assets | (35.4) | (0.4) | (202.1) |
| Net proceeds received from dispositions | 12.7 | — | — |
| Purchases of property and equipment | (42.0) | (59.7) | (51.1) |
| Purchases of equity investments | (0.5) | — | (40.0) |
| Other investing activities, net | 2.8 | 0.6 | 25.3 |
| Net cash used in investing activities | (102.4) | (132.0) | (635.6) |
| Financing activities | |||
| Proceeds received from: | |||
| Issuance of term loans | 1,759.9 | 1,725.3 | — |
| Issuance of Senior Notes | — | — | 800.0 |
| Stock option exercises | 19.6 | 19.9 | 42.7 |
| Issuance of Class A common stock under employee stock purchase plan | 30.0 | 30.1 | 30.7 |
| Payments made for: | |||
| Repurchases of Class A common stock | (1,270.2) | (1,294.6) | (526.0) |
| Repayment of term loans | (1,786.3) | (1,789.9) | (32.4) |
| Financing-related costs | — | (4.2) | (9.6) |
| Contingent consideration for business acquisitions | (7.5) | (9.3) | (4.7) |
| Other financing obligations | (7.2) | (4.0) | (2.6) |
| Net cash provided by (used in) financing activities | (1,261.7) | (1,326.7) | 298.1 |
| Effect of exchange rate changes on cash and cash equivalents | 1.3 | (2.7) | (1.3) |
| Net increase (decrease) in cash and cash equivalents | (315.2) | (481.7) | 490.5 |
| Cash and cash equivalents, beginning of period | 774.0 | 1,255.7 | 765.2 |
| Cash and cash equivalents, end of period | $458.8 | $774.0 | $1,255.7 |
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash paid during the period for: | |||
| Interest on long-term debt, including impact of interest rate swaps | $169.8 | $127.3 | $104.2 |
| Income taxes, net of refunds received | $10.6 | $11.2 | $19.1 |
| Amounts included in the measurement of operating lease liabilities | $44.4 | $50.0 | $54.4 |
| Supplemental disclosure of non-cash transactions | |||
| Operating lease assets obtained in exchange for operating lease obligations | $8.3 | $14.9 | $14.8 |
| Acquisition date fair value of contingent consideration | $— | $— | $18.5 |
| Accrued purchases of property and equipment at period end | $1.9 | $12.4 | $1.2 |
| Share repurchases not yet settled | $— | $5.8 | $— |
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