Kontoor Brands Inc
For the period ended Dec 30, 2023. Filed Feb 28, 2024.
View on SEC.govAbout this filing
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 28, 2024
KTB$82.79+1.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 8. Consolidated Statements of Cash Flows
| Year Ended December | |||
|---|---|---|---|
| (In thousands) | 2023 | 2022 | 2021 |
| OPERATING ACTIVITIES | |||
| Net income | $230,994 | $245,493 | $195,423 |
| Adjustments to reconcile net income to cash provided by operating activities: | |||
| Depreciation and amortization | 38,046 | 37,126 | 36,599 |
| Stock-based compensation | 16,725 | 21,891 | 38,516 |
| Provision for doubtful accounts | (807) | (44) | 330 |
| Deferred income taxes | (3,750) | 127 | 3,637 |
| Other | 5,359 | (592) | 9,087 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | 14,905 | 56,696 | (60,957) |
| Inventories | 101,284 | (236,166) | (24,928) |
| Accounts payable | (19,916) | (4,117) | 47,662 |
| Income taxes | (29,335) | 6,916 | 15,987 |
| Accrued liabilities | (1,858) | (31,108) | 18,859 |
| Other assets and liabilities | 4,902 | (12,637) | 3,647 |
| Cash provided by operating activities | 356,549 | 83,585 | 283,862 |
| INVESTING ACTIVITIES | |||
| Property, plant and equipment expenditures | (27,366) | (18,375) | (10,551) |
| Capitalized computer software | (10,018) | (10,022) | (26,322) |
| Proceeds from sales of assets | 510 | 64 | 669 |
| Other | (2,264) | (1,785) | (3,167) |
| Cash used by investing activities | (39,138) | (30,118) | (39,371) |
| FINANCING ACTIVITIES | |||
| Borrowings under revolving credit facility | 288,000 | 163,000 | — |
| Repayments under revolving credit facility | (288,000) | (163,000) | — |
| Proceeds from issuance of senior notes | — | — | 400,000 |
| Payment of deferred financing costs | — | (298) | (8,010) |
| Repayments of term loans | (10,000) | — | (523,000) |
| Repurchases of Common Stock | (30,111) | (62,494) | (75,462) |
| Dividends paid | (108,574) | (103,661) | (95,081) |
| Proceeds from issuance of Common Stock, net of shares withheld for taxes | 284 | (11,700) | (1,951) |
| Other | (7,297) | 7,246 | (562) |
| Cash used by financing activities | (155,698) | (170,907) | (304,066) |
| Effect of foreign currency rate changes on cash and cash equivalents | (5,842) | (8,703) | (3,241) |
| Net change in cash and cash equivalents | 155,871 | (126,143) | (62,816) |
| Cash and cash equivalents - beginning of period | 59,179 | 185,322 | 248,138 |
| Cash and cash equivalents - end of period | $215,050 | $59,179 | $185,322 |
| Supplemental cash flow information: | |||
| Interest paid, net of amounts capitalized | $36,405 | $31,955 | $27,074 |
| Income taxes paid | 74,184 | 67,798 | 32,607 |
| Change in accrual for property, plant and equipment | (3,747) | 2,522 | (336) |
| Change in accrual for capitalized computer software | (981) | 2,958 | (2,669) |
Kontoor Brands, Inc. 2023 Form 10-K 49
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.