Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.23.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Jan. 28, 2023
Jan. 29, 2022
Jan. 30, 2021
Operating activities      
Net income $ 1,242,408 $ 985,837 $ 175,835
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 241,372 268,460 297,772
Non-cash lease expense 301,912 276,229 268,071
Long-lived asset impairment charge     72,533
Deferred income taxes 15,653 (25,666) (24,008)
Stock-based compensation expense 43,044 47,259 27,583
Loss on disposal of property and equipment 6,688 5,358 6,827
Change in operating assets and liabilities:      
Receivables 34,260 (40,573) (53,772)
Merchandise inventories (104,233) (331,003) 125,486
Prepaid expenses and other current assets (19,432) (3,412) (4,363)
Income taxes (45,182) (35,652) 58,916
Accounts payable 8,309 66,156 62,324
Accrued liabilities 48,249 58,598 58,599
Deferred revenue 41,098 79,196 36,848
Operating lease liabilities (324,500) (303,914) (297,513)
Other assets and liabilities (7,731) 12,392 (783)
Net cash provided by operating activities 1,481,915 1,059,265 810,355
Investing activities      
Proceeds from short-term investments     110,000
Capital expenditures (312,126) (172,187) (151,866)
Acquisitions, net of cash acquired     (1,220)
Other investments (2,458) (4,297) (5,665)
Net cash used in investing activities (314,584) (176,484) (48,751)
Financing activities      
Proceeds from long-term debt     800,000
Payments on long-term debt     (800,000)
Repurchase of common shares (900,033) (1,521,925) (114,895)
Stock options exercised 46,011 40,386 12,229
Purchase of treasury shares (6,992) (15,677) (3,353)
Debt issuance costs     (1,915)
Net cash used in financing activities (861,014) (1,497,216) (107,934)
Effect of exchange rate changes on cash and cash equivalents   (56) 56
Net increase (decrease) in cash and cash equivalents 306,317 (614,491) 653,726
Cash and cash equivalents at beginning of year 431,560 1,046,051 392,325
Cash and cash equivalents at end of year 737,877 431,560 1,046,051
Supplemental information      
Cash paid for interest 2,138 2,132 6,987
Income taxes paid, net of refunds 429,846 370,646 19,454
Non-cash capital expenditures $ 69,591 $ 39,874 $ 20,487