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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 30, 2023
Dec. 31, 2022
Jan. 01, 2022
Operating Activities:      
Net income (loss) $ (156,659) $ (43,526) $ 26,624
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation, amortization and accretion 19,099 23,333 29,606
Non-cash lease expense 74,813 79,274 90,250
Stock-based compensation 5,686 8,060 9,497
Decrease in allowance for returns and markdowns (2,604) (6,729) (6,420)
Gain on disposal of assets (6,398) (460) (5,218)
Property, plant and equipment and other long-lived asset impairment losses 2,159 2,642 9,223
Non-cash restructuring charges 7,563 779 655
Bad debt expense 3,535 6,305 3,070
Other non cash items (7,080) 12,456 17,861
Loss on extinguishment of debt 0 1,060 13,005
Contingent consideration remeasurement (348) 2,363 347
Changes in operating assets and liabilities:      
Accounts receivable 19,945 41,621 (35,453)
Inventories 125,766 (46,031) (62,261)
Prepaid expenses and other current assets 18,758 (3,954) 20,920
Accounts payable (42,889) (35,422) 53,934
Accrued expenses (24,473) (55,055) (12,927)
Income taxes (9,858) (4,496) 3,085
Operating lease liabilities (86,474) (93,076) (105,769)
Net cash (used in) provided by operating activities (59,459) (110,856) 50,029
Investing Activities:      
Additions to property, plant and equipment and other (8,528) (13,262) (10,293)
(Increase) decrease in intangible and other assets (1,365) 1,719 6,031
Proceeds from the sale of property, plant and equipment 23 2,990 11,369
Net cash (used in) provided by investing activities (9,870) (8,553) 7,107
Financing Activities:      
Acquisition of common stock (530) (12,447) (2,420)
Distribution of noncontrolling interest earnings 0 (5,686) 0
Debt borrowings 172,827 386,067 254,717
Debt payments (183,607) (314,200) (354,389)
Payment for shares of Fossil Accessories South Africa Pty. Ltd. (2,316) 0 0
Debt issuance costs and other 0 (744) (10,479)
Net cash (used in) provided by financing activities (13,626) 52,990 (112,571)
Effect of exchange rate changes on cash and cash equivalents, and restricted cash 463 5,922 (4,239)
Net decrease in cash and cash equivalents, and restricted cash (82,492) (60,497) (59,674)
Cash and cash equivalents, and restricted cash:      
Beginning of year 204,075 264,572 324,246
End of year $ 121,583 $ 204,075 $ 264,572