Getty Images Holdings Inc

For the period ended Dec 31, 2023. Filed Mar 15, 2024.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Mar 15, 2024

GETY$0.08-41.0%Stored close · as of Sep 28, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

	Year Ended December 31,
	2023	2022	2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$19,577	$(77,643)	$117,397
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation	54,374	49,574	51,099
Amortization	24,069	43,645	49,361
Unrealized exchange gains on foreign denominated debt	16,579	(26,636)	(39,173)
Equity-based compensation	37,652	9,292	6,440
Non-cash fair value adjustment for common stock warrants	—	160,728	—
Deferred income taxes – net	(76,624)	15,801	5,793
Uncertain tax positions	(12,561)	(5,368)	(20,507)
Non-cash fair value adjustment for swaps and foreign currency exchange contracts	7,573	(22,005)	(20,196)
Amortization of debt issuance costs	3,965	6,096	6,741
Non cash operating lease costs	12,173	9,760	—
Impairment of right of use assets	—	2,563	—
Loss on extinguishment of debt	—	2,693	—
Transaction costs allocated to common stock warrants	—	4,262	—
Non-cash fair value adjustment of contingent consideration	—	(4,039)	1,373
Other	4,458	3,428	(725)
Changes in assets and liabilities:
Accounts receivable	(11,704)	6,016	(16,075)
Accounts payable	9,799	6,001	(555)
Accrued expenses	(6,808)	(14,231)	18,712
Insurance recovery receivable	(48,615)	—	—
Litigation reserves	98,149	—	—
Lease liabilities, non-current	(13,187)	(11,408)	—
Income taxes receivable/payable	8,027	(188)	320
Deferred revenue	4,532	9,140	24,783
Other	1,288	(4,364)	4,102
Net cash provided by operating activities	132,716	163,117	188,890
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of property and equipment	(56,999)	(59,291)	(49,317)
Purchase of a minority investment	—	(2,000)	—
Acquisition of a business, net of cash acquired	—	—	(89,206)
Other investing activities	—	—	1,597
Net cash used in investing activities	(56,999)	(61,291)	(136,926)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayment of debt	(50,400)	(310,400)	(17,449)
Payment of contingent consideration	—	(10,000)	—
Payment of Redeemable Preferred Stock	—	(614,996)	—
Cash contributions from business combination	—	864,164	—
Cash paid for debt issuance costs	(1,137)	—	—
Proceeds from common stock issuance	15,050	—	—
Cash paid for settlement of employee taxes related to exercise of equity-based awards	(8,713)	(6,267)	—
Cash paid for equity issuance costs	(150)	(106,917)	(1,851)
Proceeds from option and warrant exercises	—	313	35
Redemption of warrants for cash	—	(244)	—
Net cash used in financing activities	(45,350)	(184,347)	(19,265)
EFFECTS OF EXCHANGE RATE FLUCTUATIONS	8,089	(6,614)	(2,479)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	38,456	(89,135)	30,220
CASH, CASH EQUIVALENTS AND RESTRICTED CASH - Beginning of period	102,394	191,529	161,309
CASH, CASH EQUIVALENTS AND RESTRICTED CASH - End of period	$140,850	$102,394	$191,529
SUPPLEMENTAL DISCLOSURES:
Interest paid	$122,826	$110,909	$115,258
Income taxes paid, including foreign taxes withheld	$31,700	$30,800	$32,300

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.