Dolby Laboratories Inc

For the period ended Sep 27, 2024. Filed Nov 19, 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.

FY2024 · Filed Nov 19, 2024

DLB$64.67-0.2%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

CONSOLIDATED STATEMENTS OF CASH FLOWS

	Fiscal Year Ended
	September 27,2024	September 29,2023	September 30,2022
Operating activities:
Net income including noncontrolling interest	$264,316	$201,644	$183,898
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	75,559	82,558	88,461
Stock-based compensation	119,825	118,486	114,925
Amortization of operating lease right-of-use assets	11,768	12,956	15,148
Amortization of premium on investments	(2,919)	(860)	1,440
Provision for/(benefit from) credit losses	(2,256)	(793)	5,460
Deferred income taxes	(21,612)	(18,337)	(29,465)
Impairment loss on internally developed software	—	16,225	—
Other non-cash items affecting net income	(10,828)	(2,800)	(5,037)
Changes in operating assets and liabilities:
Accounts receivable, net	(28,967)	47,779	(14,314)
Contract assets, net	(8,707)	347	6,300
Inventories	(2,654)	(13,226)	(11,759)
Operating lease right-of-use assets	(8,420)	(8,817)	266
Prepaid expenses and other assets	10,097	3,868	8,760
Accounts payable and accrued liabilities	(34,554)	(52,315)	(33,542)
Income taxes, net	(4,501)	(8,722)	8,446
Contract liabilities	(9,738)	(8,379)	(413)
Operating lease liabilities	(5,263)	(5,818)	(15,399)
Other non-current liabilities	(13,894)	3,285	(4,599)
Net cash provided by operating activities	327,252	367,081	318,576
Investing activities:
Purchases of marketable securities	(160,198)	(172,955)	(311,313)
Proceeds from sales of marketable securities	234,061	54,964	9,459
Proceeds from maturities of marketable securities	157,729	176,833	108,546
Purchases of property, plant, and equipment	(30,007)	(30,339)	(47,928)
Business combinations, net of cash and restricted cash acquired	(487,877)	25,703	(38,171)
Purchases of intangible assets	—	—	(11,528)
Purchases of other investments	—	—	(5,000)
Net cash provided by/(used in) investing activities	(286,292)	54,206	(295,935)
Financing activities:
Proceeds from issuance of common stock	40,203	47,781	57,848
Repurchase of common stock	(160,001)	(149,276)	(530,486)
Payment of cash dividend	(114,579)	(103,407)	(100,067)
Distributions to noncontrolling interest	(5,164)	(266)	(1,435)
Purchase of noncontrolling interest in business combinations	(9,920)	—	—
Equity issued in connection with business combination	722	—	—
Shares repurchased for tax withholdings on vesting of restricted stock	(39,075)	(31,144)	(36,418)
Payment of deferred consideration for prior business combinations	—	(500)	—
Net cash used in financing activities	(287,814)	(236,812)	(610,558)
Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash	6,640	5,120	(16,744)
Net increase/(decrease) in cash, cash equivalents, and restricted cash	(240,214)	189,595	(604,661)
Cash, cash equivalents, and restricted cash at beginning of period	817,966	628,371	1,233,032
Cash, cash equivalents, and restricted cash at end of period	$577,752	$817,966	$628,371
Supplemental disclosure:
Cash paid for income taxes, net of refunds received	$63,217	$61,481	$40,340
Non-cash investing and financing activities:
Change in property, plant, and equipment purchased, unpaid at period-end	$8,711	$3,882	$(1,481)
Accrual of unpaid stock repurchase excise tax	$261	$—	$—
Equity issued in connection with business combination	$—	$21,198	$—

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