Wayfair Inc
For the period ended Dec 31, 2023. Filed Feb 22, 2024.
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FY2023 · Filed Feb 22, 2024
W$112.52-3.7%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
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| (in millions) | |||
| Cash flows from (for) operating activities: | |||
| Net loss | $(738) | $(1,331) | $(131) |
| Adjustments to reconcile net loss to net cash provided by (used) in operating activities: | |||
| Depreciation and amortization | 417 | 371 | 322 |
| Equity-based compensation expense | 605 | 513 | 344 |
| Amortization of discount and issuance costs on convertible notes | 8 | 8 | 7 |
| Impairment and other related net charges | 14 | 39 | 12 |
| Gain on debt extinguishment | (100) | (96) | — |
| Other non-cash adjustments | (3) | 41 | 6 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable, net | 132 | (48) | (118) |
| Inventories | 16 | (21) | (17) |
| Prepaid expenses and other assets | 16 | 27 | (28) |
| Accounts payable and other liabilities | (18) | (177) | 13 |
| Net cash provided by (used in) operating activities | 349 | (674) | 410 |
| Cash flows (for) from investing activities: | |||
| Purchase of short- and long-term investments | (36) | (430) | (989) |
| Sale and maturities of short- and long-term investments | 233 | 889 | 749 |
| Purchase of property and equipment | (148) | (186) | (101) |
| Site and software development costs | (203) | (272) | (179) |
| Other investing activities, net | 2 | — | 5 |
| Net cash (used in) provided by investing activities | (152) | 1 | (515) |
| Cash flows from (for) financing activities: | |||
| Repurchase of common stock | — | (75) | (300) |
| Proceeds from issuance of convertible notes, net of issuance costs | 678 | 678 | — |
| Premiums paid for capped call confirmations | (87) | (80) | — |
| Payment of principal upon maturity of convertible debt | — | (3) | — |
| Payments to extinguish convertible debt | (514) | (504) | — |
| Other financing activities, net | — | — | (3) |
| Net cash provided by (used in) financing activities | 77 | 16 | (303) |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 2 | 1 | (16) |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 276 | (656) | (424) |
| Cash, cash equivalents and restricted cash | |||
| Beginning of year | $1,050 | $1,706 | $2,130 |
| End of year | $1,326 | $1,050 | $1,706 |
See notes to consolidated financial statements
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| (in millions) | |||
| Supplemental cash flow information: | |||
| Cash paid for interest on long-term debt | $53 | $27 | $27 |
| Non-cash impact to equity upon conversion of convertible notes, net of taxes | $— | $— | $265 |
| Purchase of property and equipment included in accounts payable and other liabilities | $19 | $(6) | $41 |
| Reconciliation of cash, cash equivalents and restricted cash to consolidated balance sheets | |||
| Cash and cash equivalents | $1,322 | $1,050 | $1,706 |
| Restricted cash included within prepaid expenses and other current assets | 4 | — | — |
| Total cash, cash equivalents and restricted cash | $1,326 | $1,050 | $1,706 |
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