Grocery Outlet Holding Corp
For the period ended Sep 28, 2024. Filed Nov 6, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 28, 2024 · Filed Nov 6, 2024
GO$14.02+1.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
(in thousands)
| 39 Weeks Ended | ||
|---|---|---|
| September 28,2024 | September 30,2023 | |
| Cash flows from operating activities: | ||
| Net income | $37,154 | $65,331 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation of property and equipment | 66,730 | 56,012 |
| Amortization of intangible and other assets | 12,519 | 7,669 |
| Amortization of debt issuance costs and debt discounts | 683 | 856 |
| Non-cash rent | 3,561 | 4,144 |
| Loss on debt extinguishment and modification | — | 5,340 |
| Share-based compensation | 16,806 | 25,516 |
| Provision for independent operator and other accounts receivable reserves | 3,137 | 2,777 |
| Deferred income taxes | 13,822 | 15,350 |
| Other | 915 | 477 |
| Changes in operating assets and liabilities: | ||
| Independent operator and other accounts receivable | (2,035) | (13,928) |
| Merchandise inventories | (32,692) | 25,714 |
| Prepaid expenses and other assets | 4,740 | (11,812) |
| Income and other taxes payable | (3,425) | 6,760 |
| Trade accounts payable, accrued compensation and other liabilities | (59,664) | 70,808 |
| Operating lease liabilities | 10,214 | 15,204 |
| Net cash provided by operating activities | 72,465 | 276,218 |
| Cash flows from investing activities: | ||
| Advances to independent operators | (8,266) | (5,579) |
| Repayments of advances from independent operators | 3,884 | 4,770 |
| Business acquisition, net of cash and cash equivalents acquired | (60,526) | — |
| Purchases of property and equipment | (127,500) | (112,916) |
| Proceeds from sales of assets | 17 | 24 |
| Investments in intangible assets and licenses | (13,287) | (17,862) |
| Proceeds from insurance recoveries - property and equipment | — | 533 |
| Net cash used in investing activities | (205,678) | (131,030) |
| Cash flows from financing activities: | ||
| Proceeds from exercise of stock options | 8,260 | 5,851 |
| Tax withholding related to net settlement of employee share-based awards | — | (537) |
| Proceeds from senior term loan due 2028 | — | 300,000 |
| Proceeds from revolving credit facility | 140,000 | 25,000 |
| Principal payments on revolving credit facility | — | (25,000) |
| Principal payments on senior term loan due 2025 | — | (385,000) |
| Principal payments on senior term loan due 2028 | (3,750) | (3,750) |
| Principal payments on finance leases | (1,323) | (1,020) |
| Repurchase of common stock | (56,308) | (3,275) |
| Dividends paid | — | (9) |
| Debt issuance costs paid | — | (4,513) |
| Net cash provided by (used in) financing activities | 86,879 | (92,253) |
| Net (decrease) increase in cash and cash equivalents | (46,334) | 52,935 |
| Cash and cash equivalents at beginning of period | 114,987 | 102,728 |
| Cash and cash equivalents at end of period | $68,653 | $155,663 |
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