Krispy Kreme, Inc.
For the period ended Dec 28, 2025. Filed Mar 6, 2026.
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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.
FY2025 · Filed Mar 6, 2026
DNUT$3.85-4.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 7. Results of Operations
Consolidated Statements of Cash Flows
(in thousands)
| Fiscal Years Ended | |||
|---|---|---|---|
| December 28,2025 (52 weeks) | December 29,2024 (52 weeks) | December 31,2023 (52 weeks) | |
| CASH FLOWS PROVIDED BY OPERATING ACTIVITIES: | |||
| Net (loss)/income | $(523,779) | $3,815 | $(36,647) |
| Adjustments to reconcile net (loss)/income to net cash provided by operating activities: | |||
| Depreciation and amortization expense | 137,074 | 133,597 | 125,894 |
| Deferred and other income taxes | (35,552) | 3,067 | (18,486) |
| Goodwill impairment | 355,958 | — | — |
| Loss on extinguishment of debt | — | — | 472 |
| Long-lived asset impairment and lease termination charges | 76,464 | 4,464 | 24,909 |
| Loss on disposal of property and equipment | 1,643 | 1,250 | 110 |
| Loss/(gain) on divestiture of Insomnia Cookies | 11,501 | (90,455) | — |
| Gain on refranchising | (1,358) | — | — |
| Gain on remeasurement of equity method investment | — | (5,579) | — |
| Gain on sale-leaseback | (6,749) | (1,569) | (9,646) |
| Share-based compensation | 12,865 | 35,149 | 24,196 |
| Change in accounts and notes receivable allowances | 1,443 | 646 | 654 |
| Inventory write-off | 6,328 | 2,783 | 11,248 |
| Settlement of interest rate swap derivatives | — | — | 7,657 |
| Amortization related to settlement of interest rate swap derivatives | — | (5,910) | (10,289) |
| Other | 2,064 | (619) | 2,155 |
| Change in operating assets and liabilities, excluding business acquisitions and divestitures, and foreign currency translation adjustments: | |||
| Accounts, notes, and taxes receivable | 5,484 | (13,895) | (3,523) |
| Inventories | (19,870) | (2,011) | 780 |
| Other current and noncurrent assets | (4,405) | (873) | (2,395) |
| Operating lease assets and liabilities | (943) | (1,227) | 5,111 |
| Accounts payable and accrued liabilities | 15,079 | (20,156) | (74,471) |
| Other long-term obligations and deferred credits | 677 | 3,355 | (2,185) |
| Net cash provided by operating activities | 33,924 | 45,832 | 45,544 |
| CASH FLOWS (USED FOR)/PROVIDED BY INVESTING ACTIVITIES: | |||
| Purchase of property and equipment | (97,929) | (120,792) | (121,427) |
| Proceeds from disposals of assets | 3,077 | 183 | 218 |
| Proceeds from sale-leaseback | 10,882 | 6,308 | 10,025 |
| Acquisition of shops and franchise rights from franchisees, net of cash acquired | — | (31,938) | — |
| Purchase of equity method investment | (2,998) | (3,506) | (1,424) |
| Net proceeds from divestiture of Insomnia Cookies | 75,000 | 124,126 | — |
| Principal payment received from loan to Insomnia Cookies | — | 45,000 | — |
| Principal payments received from loans to franchisees | 1,202 | 985 | 20 |
| Disbursement for loan receivable | (1,379) | (1,086) | — |
| Net cash (used for)/provided by investing activities | (12,145) | 19,280 | (112,588) |
| CASH FLOWS (USED FOR)/PROVIDED BY FINANCING ACTIVITIES: | |||
| Proceeds from the issuance of debt | 778,538 | 676,250 | 1,175,698 |
| Repayment of long-term debt and lease obligations | (728,602) | (712,778) | (1,084,390) |
| Payment of financing costs | (825) | — | (5,175) |
| Proceeds from structured payables | 291,028 | 376,189 | 241,148 |
| Payments on structured payables | (334,576) | (345,327) | (214,574) |
| Payment of contingent consideration related to a business combination | — | — | (925) |
| Capital contribution from shareholders, net of loans issued | — | 919 | 764 |
| Proceeds from sale of noncontrolling interest in subsidiary | — | 1,562 | 292 |
| Distribution to shareholders | (11,934) | (23,692) | (23,558) |
| Payments for repurchase and retirement of common stock | (1,350) | (5,489) | (1,880) |
| Distribution to noncontrolling interest | (36) | (41,583) | (15,538) |
| Net cash (used for)/provided by financing activities | (7,757) | (73,949) | 71,862 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | (446) | (462) | (1,934) |
| Net increase/(decrease) in cash, cash equivalents and restricted cash | 13,576 | (9,299) | 2,884 |
| Cash, cash equivalents and restricted cash at beginning of the fiscal year | 29,315 | 38,614 | 35,730 |
| Cash, cash equivalents and restricted cash at end of the fiscal year | $42,891 | $29,315 | $38,614 |
| Supplemental schedule of non-cash investing and financing activities: | |||
| (Decrease)/increase in accrual for property and equipment | $(18,443) | $14,214 | $51,820 |
| Accrual for distribution to shareholders | — | (5,952) | (5,902) |
| Reconciliation of cash, cash equivalents and restricted cash at end of fiscal year: | |||
| Cash and cash equivalents | $42,390 | $28,962 | $38,185 |
| Restricted cash | 501 | 353 | 429 |
| Total cash, cash equivalents and restricted cash | $42,891 | $29,315 | $38,614 |
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