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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income $ 538,980 $ 402,424
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 40,531 26,498
Operating lease cost 56,880 47,945
Share-based compensation 23,507 25,463
Other non-cash items 7,411 12,568
Changes in operating assets and liabilities, net of acquired assets and assumed liabilities:    
Accounts receivable (99,912) (166,864)
Inventories 77,915 (139,682)
Prepaid expenses and other assets (30,714) (20,526)
Accounts payable, accrued expenses and other liabilities (4,935) 51,608
Right-of-use assets and operating lease liabilities (54,287) (45,824)
Income taxes 25,350 53,075
Cash provided by operating activities 580,726 246,685
Cash flows from investing activities:    
Purchases of property, equipment, and software (86,378) (89,588)
Acquisition of HEYDUDE, net of cash acquired 0 (2,046,881)
Other (90) (20)
Cash used in investing activities (86,468) (2,136,489)
Cash flows from financing activities:    
Proceeds from borrowings 214,634 2,240,677
Repayments of borrowings (603,703) (350,285)
Deferred debt issuance costs (1,736) (51,395)
Repurchases of common stock (150,013) 0
Repurchases of common stock for tax withholding (17,034) (11,439)
Other 0 95
Cash provided by (used in) financing activities (557,852) 1,827,653
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (262) (8,821)
Net change in cash, cash equivalents, and restricted cash (63,856) (70,972)
Cash, cash equivalents, and restricted cash—beginning of period 194,885 216,925
Cash, cash equivalents, and restricted cash—end of period $ 131,029 $ 145,953