YETI Holdings Inc
For the period ended Dec 28, 2024. Filed Feb 24, 2025.
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FY2024 · Filed Feb 24, 2025
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 28,2024 | December 30,2023 | December 31,2022 | |
| Cash Flows from Operating Activities: | |||
| Net income | $175,689 | $169,885 | $89,693 |
| Adjustments to reconcile net income to cash provided by operating activities: | |||
| Depreciation and amortization | 48,132 | 46,434 | 39,847 |
| Amortization of deferred financing fees | 649 | 604 | 601 |
| Stock-based compensation | 40,719 | 29,800 | 17,799 |
| Deferred income taxes | (11,167) | 25,561 | (403) |
| Impairment of long-lived assets | 5,490 | 2,927 | 1,229 |
| Loss on prepayment, modification, or extinguishment of debt | — | 330 | — |
| Product recalls | 9,939 | 1,895 | 97,176 |
| Other | 9,872 | (6,163) | 2,039 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable, net | (23,655) | (15,683) | 30,448 |
| Inventory | 39,751 | 33,675 | (91,624) |
| Other current assets | 9,480 | (7,933) | (2,187) |
| Accounts payable and accrued expenses | (47,020) | (15,144) | (86,242) |
| Taxes payable | 669 | 18,156 | 439 |
| Other | 2,838 | 1,598 | 2,079 |
| Net cash provided by operating activities | 261,386 | 285,942 | 100,894 |
| Cash Flows from Investing Activities: | |||
| Purchases of property and equipment | (41,832) | (50,672) | (45,929) |
| Business acquisition, net of cash acquired | (36,164) | — | — |
| Additions of intangibles, net | (53,452) | (22,152) | (10,981) |
| Net cash used in investing activities | (131,448) | (72,824) | (56,910) |
| Cash Flows from Financing Activities: | |||
| Repayments of long‑term debt | (4,219) | (7,734) | (22,500) |
| Proceeds from employee stock transactions | 294 | 1,573 | 3,821 |
| Taxes paid in connection with employee stock transactions | (1,463) | (2,481) | (1,861) |
| Finance lease principal payment | (3,829) | (2,130) | (2,063) |
| Repurchase of common stock | (200,000) | — | (100,025) |
| Payments of deferred financing fees | — | (2,824) | — |
| Net cash used in financing activities | (209,217) | (13,596) | (122,628) |
| Effect of exchange rate changes on cash | (886) | 4,697 | 1,196 |
| Net (decrease) increase in cash | (80,165) | 204,219 | (77,448) |
| Cash, beginning of period | 438,960 | 234,741 | 312,189 |
| Cash, end of period | $358,795 | $438,960 | $234,741 |
| Supplemental cash flow information: | |||
| Interest paid | $5,806 | $6,688 | $2,961 |
| Income taxes paid, net of refunds | $65,204 | $14,131 | $58,822 |
| Supplemental non-cash investing activity: | |||
| Property and equipment additions included in accounts payable and accrued expenses | $2,794 | $2,647 | $3,801 |
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