Vestis Corp
For the period ended Jun 28, 2024. Filed Aug 7, 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.
Jun 28, 2024 · Filed Aug 7, 2024
VSTS$14.37-0.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated and Combined Statements of Cash Flows
CONSOLIDATED AND COMBINED STATEMENTS OF CASH FLOWS (UNAUDITED)
| Nine months ended | ||
|---|---|---|
| June 28,2024 | June 30,2023 | |
| Cash flows from operating activities: | ||
| Net Income | $23,268 | $119,186 |
| Adjustments to reconcile Net Income to Net cash provided by operating activities: | ||
| Depreciation and amortization | 105,500 | 101,712 |
| Deferred income taxes | (10,166) | 1,551 |
| Share-based compensation expense | 13,303 | 11,580 |
| Asset write-down | 980 | 7,698 |
| Loss on disposals of property and equipment | 618 | — |
| Amortization of debt issuance costs | 1,478 | — |
| Loss on extinguishment of debt | 3,883 | — |
| Changes in operating assets and liabilities: | ||
| Receivables, net | (17,230) | (18,317) |
| Inventories, net | 21,136 | (25,183) |
| Rental merchandise in service, net | 178 | (1,207) |
| Other current assets | (6,230) | 2,335 |
| Accounts payable | 14,471 | (22,146) |
| Accrued expenses | 54,511 | (17,560) |
| Changes in other noncurrent liabilities | (16,900) | (1,440) |
| Changes in other assets | (10,932) | (6,845) |
| Other operating activities | (1,668) | (7,427) |
| Net cash provided by operating activities | 176,200 | 143,937 |
| Cash flows from investing activities: | ||
| Purchases of property and equipment and other | (50,787) | (52,641) |
| Disposals of property and equipment | — | 10,968 |
| Other investing activities | — | 75 |
| Net cash used in investing activities | (50,787) | (41,598) |
| Cash flows from financing activities: | ||
| Proceeds from long-term borrowings | 798,000 | — |
| Payments of long-term borrowings | (879,500) | — |
| Payments of financing lease obligations | (22,572) | (20,803) |
| Net cash distributions to Parent | (6,051) | (91,706) |
| Dividend payments | (9,199) | — |
| Debt issuance costs | (11,134) | — |
| Other financing activities | (1,853) | — |
| Net cash used in financing activities | (132,309) | (112,509) |
| Effect of foreign exchange rates on cash and cash equivalents | (57) | 682 |
| (Decrease) increase in cash and cash equivalents | (6,953) | (9,488) |
| Cash and cash equivalents, beginning of period | 36,051 | 23,736 |
| Cash and cash equivalents, end of period | $29,098 | $14,248 |
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