HAVERTY FURNITURE COMPANIES INC
For the period ended Dec 31, 2023. Filed Mar 7, 2024.
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FY2023 · Filed Mar 7, 2024
HVT$26.18+4.1%Stored close · as of Nov 9, 2026
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Item 8. Consolidated Statements of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| (In thousands) | 2023 | 2022 | 2021 |
| Cash Flows from Operating Activities | |||
| Net income | $56,319 | $89,358 | $90,803 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 18,603 | 16,926 | 16,304 |
| Stock-based compensation | 8,010 | 7,195 | 8,213 |
| Deferred income taxes | (1,171) | 584 | 234 |
| Net (gain) loss on sale of land, property and equipment | 71 | 128 | (77) |
| Other | 1,160 | 960 | 869 |
| Changes in operating assets and liabilities: | |||
| Inventories | 24,377 | (6,303) | (22,123) |
| Customer deposits | (12,132) | (50,928) | 12,714 |
| Other assets and liabilities | 8,643 | (923) | (3,244) |
| Accounts payable and accrued liabilities | (6,677) | (5,982) | (6,451) |
| Net cash provided by operating activities | 97,203 | 51,015 | 97,242 |
| Cash Flows from Investing Activities | |||
| Capital expenditures | (53,115) | (28,411) | (34,090) |
| Proceeds from sale of property and equipment | 53 | 86 | 88 |
| Net cash used in investing activities | (53,062) | (28,325) | (34,002) |
| Cash Flows from Financing Activities | |||
| Dividends paid | (35,240) | (33,948) | (52,446) |
| Common stock repurchased | (6,895) | (29,998) | (41,809) |
| Taxes on vested restricted shares | (4,159) | (1,676) | (2,894) |
| Net cash used in financing activities | (46,294) | (65,622) | (97,149) |
| Decrease in Cash, Cash Equivalents and Restricted | |||
| Cash Equivalents | (2,153) | (42,932) | (33,909) |
| Cash, Cash Equivalents and Restricted Cash Equivalents at | |||
| Beginning of Year | 129,930 | 172,862 | 206,771 |
| Cash and Cash Equivalents and Restricted Cash Equivalents at | |||
| End of Year | $127,777 | $129,930 | $172,862 |
| Supplemental Disclosures | |||
| Cash paid during the period for income taxes, net of refunds | $23,264 | $27,957 | $32,395 |
| Cash paid for interest | $162 | $127 | $126 |
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