Trade Desk Inc
For the period ended Dec 31, 2023. Filed Feb 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 Feb 15, 2024
TTD$15.42+3.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| OPERATING ACTIVITIES: | |||
| Net income | $178,940 | $53,385 | $137,762 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 80,418 | 54,425 | 42,219 |
| Stock-based compensation | 491,621 | 498,642 | 337,413 |
| Deferred income taxes | (61,597) | (11,507) | (16,777) |
| Noncash lease expense | 48,955 | 44,115 | 40,315 |
| Provision for expected credit losses on accounts receivable | 2,960 | 3,203 | 1,456 |
| Other | (20,379) | 622 | 5,803 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (554,012) | (291,747) | (444,342) |
| Prepaid expenses and other current and non-current assets | (26,815) | 50,655 | 1,648 |
| Accounts payable | 475,463 | 187,119 | 309,410 |
| Accrued expenses and other current and non-current liabilities | 35,681 | 8,168 | 7,596 |
| Operating lease liabilities | (52,913) | (48,346) | (43,990) |
| Net cash provided by operating activities | 598,322 | 548,734 | 378,513 |
| INVESTING ACTIVITIES: | |||
| Purchases of investments | (608,379) | (553,295) | (278,387) |
| Sales of investments | — | 1,977 | 4,539 |
| Maturities of investments | 555,806 | 338,829 | 253,444 |
| Purchases of property and equipment | (46,790) | (84,160) | (54,804) |
| Capitalized software development costs | (8,230) | (7,725) | (5,169) |
| Business acquisition | — | — | (13,261) |
| Net cash used in investing activities | (107,593) | (304,374) | (93,638) |
| FINANCING ACTIVITIES: | |||
| Repurchases of Class A common stock | (646,597) | — | — |
| Payment of debt financing costs | — | — | (1,924) |
| Proceeds from exercise of stock options | 60,525 | 47,525 | 61,476 |
| Proceeds from employee stock purchase plan | 38,482 | 33,062 | 29,229 |
| Taxes paid related to net settlement of restricted stock awards | (78,516) | (48,595) | (56,855) |
| Net cash provided by (used in) financing activities | (626,106) | 31,992 | 31,926 |
| Increase (decrease) in cash and cash equivalents | (135,377) | 276,352 | 316,801 |
| Cash and cash equivalents—Beginning of year | 1,030,506 | 754,154 | 437,353 |
| Cash and cash equivalents—End of year | $895,129 | $1,030,506 | $754,154 |
| SUPPLEMENTAL CASH FLOW INFORMATION: | |||
| Cash paid for income taxes | $151,899 | $4,211 | $3,608 |
| Cash paid for interest | $967 | $995 | $518 |
| Cash paid for operating lease liabilities | $63,256 | $57,862 | $52,974 |
| Operating lease assets obtained in exchange for operating lease liabilities | $27,237 | $29,881 | $25,356 |
| Capitalized assets financed by accounts payable | $4,684 | $2,166 | $5,907 |
| Tenant improvements paid by lessor | $— | $1,453 | $— |
| Asset retirement obligation | $1,076 | $438 | $1,705 |
| Stock-based compensation included in capitalized software development costs | $5,328 | $4,014 | $3,320 |
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