Kontoor Brands Inc
For the period ended Dec 28, 2024. Filed Feb 25, 2025.
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FY2024 · Filed Feb 25, 2025
KTB$82.79+1.0%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
| Year Ended December | |||
|---|---|---|---|
| (In thousands) | 2024 | 2023 | 2022 |
| OPERATING ACTIVITIES | |||
| Net income | $245,802 | $230,994 | $245,493 |
| Adjustments to reconcile net income to cash provided by operating activities: | |||
| Depreciation and amortization | 42,635 | 38,046 | 37,126 |
| Stock-based compensation | 26,585 | 16,725 | 21,891 |
| Provision for doubtful accounts | 670 | (807) | (44) |
| Deferred income taxes | (6,706) | (3,750) | 127 |
| Other | (255) | 5,359 | (592) |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (35,412) | 14,905 | 56,696 |
| Inventories | 102,992 | 101,284 | (236,166) |
| Accounts payable | 1,869 | (19,916) | (4,117) |
| Income taxes | 9,348 | (29,335) | 6,916 |
| Accrued and other current liabilities | 4,613 | (1,858) | (31,108) |
| Other assets and liabilities | (23,911) | 4,902 | (12,637) |
| Cash provided by operating activities | 368,230 | 356,549 | 83,585 |
| INVESTING ACTIVITIES | |||
| Property, plant and equipment expenditures | (18,788) | (27,366) | (18,375) |
| Capitalized computer software | (3,334) | (10,018) | (10,022) |
| Proceeds from sales of assets | 3,603 | 510 | 64 |
| Other | (3,741) | (2,264) | (1,785) |
| Cash used by investing activities | (22,260) | (39,138) | (30,118) |
| FINANCING ACTIVITIES | |||
| Borrowings under revolving credit facility | — | 288,000 | 163,000 |
| Repayments under revolving credit facility | — | (288,000) | (163,000) |
| Payment of deferred financing costs | — | — | (298) |
| Repayments of term loan | (45,000) | (10,000) | — |
| Repurchases of Common Stock | (85,677) | (30,111) | (62,494) |
| Dividends paid | (112,060) | (108,574) | (103,661) |
| Proceeds from issuance of Common Stock, net of shares withheld for taxes | 2,382 | 284 | (11,700) |
| Other | — | (7,297) | 7,246 |
| Cash used by financing activities | (240,355) | (155,698) | (170,907) |
| Effect of foreign currency rate changes on cash and cash equivalents | 13,401 | (5,842) | (8,703) |
| Net change in cash and cash equivalents | 119,016 | 155,871 | (126,143) |
| Cash and cash equivalents - beginning of period | 215,050 | 59,179 | 185,322 |
| Cash and cash equivalents - end of period | $334,066 | $215,050 | $59,179 |
| Supplemental cash flow information: | |||
| Interest paid, net of amounts capitalized | $40,720 | $36,405 | $31,955 |
| Income taxes paid | 53,374 | 74,184 | 67,798 |
| Change in accrual for property, plant and equipment | (368) | (3,747) | 2,522 |
| Change in accrual for capitalized computer software | 196 | (981) | 2,958 |
Kontoor Brands, Inc. 2024 Form 10-K 49
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