Savers Value Village Inc
For the period ended Dec 30, 2023. Filed Mar 8, 2024.
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FY2023 · Filed Mar 8, 2024
SVV$10.07-5.1%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
(All amounts in thousands)
| Fiscal Year | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash flows from operating activities: | |||
| Net income | $53,115 | $84,720 | $83,394 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Stock-based compensation expense | 72,604 | 1,943 | 732 |
| Amortization of debt issuance costs and debt discount | 6,051 | 4,005 | 4,444 |
| Depreciation and amortization | 61,144 | 55,753 | 47,385 |
| Operating lease expense | 119,908 | 114,788 | — |
| Deferred income taxes, net | (35,249) | 20,261 | (21,870) |
| Loss on extinguishment of debt | 16,626 | 1,023 | 47,541 |
| Noncash interest expense | — | — | 3,417 |
| Other items | (15,055) | 22,795 | 1,351 |
| Changes in operating assets and liabilities: | |||
| Trade receivables | 740 | (8,053) | 3,878 |
| Inventories | (10,926) | 2,246 | 6,091 |
| Prepaid expenses and other current assets | 3,659 | (16,928) | (17,998) |
| Accounts payable and accrued liabilities | 8,154 | 6,887 | 2,732 |
| Accrued payroll and related taxes | 2,428 | (12,632) | 17,984 |
| Operating lease liabilities | (110,438) | (104,685) | — |
| Other liabilities | 2,404 | (2,690) | (3,319) |
| Net cash provided by operating activities | 175,165 | 169,433 | 175,762 |
| Cash flows from investing activities: | |||
| Purchases of property and equipment | (91,743) | (110,173) | (40,544) |
| Purchase of trade name | (650) | — | — |
| Settlement of derivative instruments, net | 28 | (329) | (2,321) |
| Acquisition of 2nd Ave, net of cash acquired | — | — | (220,307) |
| Net cash used in investing activities | (92,365) | (110,502) | (263,172) |
| Cash flows from financing activities: | |||
| Proceeds from issuance of long-term debt, net | 529,247 | — | 817,149 |
| Principal payments on long-term debt | (547,931) | (10,991) | (422,755) |
| Principal payments on long-term debt to related parties | — | — | (222,910) |
| Payment of debt issuance costs | (4,359) | (626) | (20,676) |
| Prepayment premium on extinguishment of debt | (1,650) | (1,023) | (14,687) |
| Prepayment premium on extinguishment of debt to related parties | — | — | (8,122) |
| Advances on revolving line of credit | 42,000 | 102,000 | — |
| Repayments of revolving line of credit | (84,000) | (60,000) | — |
| Dividends paid | (262,235) | (69,433) | (75,000) |
| Proceeds from initial public offering, net | 314,719 | — | — |
| Payment of offering costs | (9,061) | — | — |
| Repurchase of shares and shares withheld to cover taxes | (849) | (292) | — |
| Settlement of derivative instrument, net | 8,601 | 147 | — |
| Principal payments on finance lease liabilities | (1,526) | — | — |
| Net cash (used in) provided by financing activities | (17,044) | (40,218) | 52,999 |
| Effect of exchange rate changes on cash and cash equivalents | 2,067 | (4,496) | (5,533) |
| Net change in cash and cash equivalents | 67,823 | 14,217 | (39,944) |
| Cash and cash equivalents at beginning of period | 112,132 | 97,915 | 137,859 |
| Cash and cash equivalents at end of period | $179,955 | $112,132 | $97,915 |
| Supplemental disclosures of cash flow information: | |||
| Interest paid on debt | $79,133 | $62,157 | $45,250 |
| Income taxes paid, net | $22,480 | $31,168 | $29,654 |
| Supplemental disclosure of noncash investing activities: | |||
| Noncash capital expenditures | $5,276 | $6,414 | $2,891 |
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