YETI Holdings Inc
For the period ended Dec 30, 2023. Filed Feb 26, 2024.
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FY2023 · Filed Feb 26, 2024
YETI$44.77-2.3%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
| Fiscal Year Ended | |||
|---|---|---|---|
| December 30,2023 | December 31,2022 | January 1,2022 | |
| Cash Flows from Operating Activities: | |||
| Net income | $169,885 | $89,693 | $212,602 |
| Adjustments to reconcile net income to cash provided by operating activities: | |||
| Depreciation and amortization | 46,434 | 39,847 | 32,070 |
| Amortization of deferred financing fees | 604 | 601 | 679 |
| Stock-based compensation | 29,800 | 17,799 | 15,474 |
| Deferred income taxes | 25,561 | (403) | 5,147 |
| Impairment of long-lived assets | 2,927 | 1,229 | 2,473 |
| Loss on prepayment, modification, or extinguishment of debt | 330 | — | — |
| Product recalls | 1,895 | 97,176 | — |
| Other | (6,163) | 2,039 | 1,022 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable, net | (15,683) | 30,448 | (44,681) |
| Inventory | 33,675 | (91,624) | (179,803) |
| Other current assets | (7,933) | (2,187) | (10,587) |
| Accounts payable and accrued expenses | (15,144) | (86,242) | 112,773 |
| Taxes payable | 18,156 | 439 | (3,781) |
| Other | 1,598 | 2,079 | 3,132 |
| Net cash provided by operating activities | 285,942 | 100,894 | 146,520 |
| Cash Flows from Investing Activities: | |||
| Purchases of property and equipment | (50,672) | (45,929) | (56,121) |
| Additions of intangibles, net | (22,152) | (10,981) | (9,635) |
| Net cash used in investing activities | (72,824) | (56,910) | (65,756) |
| Cash Flows from Financing Activities: | |||
| Repayments of long‑term debt | (7,734) | (22,500) | (22,500) |
| Proceeds from employee stock transactions | 1,573 | 3,821 | 4,095 |
| Taxes paid in connection with employee stock transactions | (2,481) | (1,861) | (3,506) |
| Finance lease principal payment | (2,130) | (2,063) | (1,108) |
| Repurchase of common stock | — | (100,025) | — |
| Payments of deferred financing fees | (2,824) | — | — |
| Net cash used in financing activities | (13,596) | (122,628) | (23,019) |
| Effect of exchange rate changes on cash | 4,697 | 1,196 | 1,161 |
| Net increase (decrease) in cash | 204,219 | (77,448) | 58,906 |
| Cash, beginning of period | 234,741 | 312,189 | 253,283 |
| Cash, end of period | $438,960 | $234,741 | $312,189 |
| Supplemental cash flow information:: | |||
| Interest paid | $6,688 | $2,961 | $2,365 |
| Income taxes paid, net of refunds | $14,131 | $58,822 | $58,819 |
| Supplemental non-cash investing activity: | |||
| Property and equipment additions included in accounts payable and accrued expenses | $2,647 | $3,801 | $9,865 |
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