Stock Analysis on Net

Hershey Co. (NYSE:HSY)

This company has been moved to the archive! The financial data has not been updated since July 27, 2023.

Cash Flow Statement
Quarterly Data

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Hershey Co., consolidated cash flow statement (quarterly data)

US$ in thousands

Microsoft Excel
3 months ended: Jul 2, 2023 Apr 2, 2023 Dec 31, 2022 Oct 2, 2022 Jul 3, 2022 Apr 3, 2022 Dec 31, 2021 Oct 3, 2021 Jul 4, 2021 Apr 4, 2021 Dec 31, 2020 Sep 27, 2020 Jun 28, 2020 Mar 29, 2020 Dec 31, 2019 Sep 29, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jul 1, 2018 Apr 1, 2018
Net income including noncontrolling interest 406,983 587,185 396,296 399,487 315,556 533,478 339,791 444,927 301,230 396,871 291,330 447,258 268,042 268,783 204,418 325,182 313,271 303,881 331,600 265,413 223,319 350,719
Depreciation and amortization 101,588 98,199 99,877 94,200 93,846 91,036 83,049 78,024 76,032 77,897 77,218 75,165 71,900 70,624 72,703 74,495 72,017 72,329 69,341 74,807 76,580 74,416
Stock-based compensation expense 16,849 18,992 15,351 18,079 17,224 15,337 15,702 18,527 16,826 15,656 19,687 12,407 12,915 12,575 12,320 15,867 13,156 10,556 13,618 12,122 13,088 10,458
Deferred income taxes (16,044) (11,250) 46,640 (17,139) 2,324 5,064 12,612 (5,027) 6,502 (713) 19,643 3,928 10,312 (7,003) (21,523) (2,332) 7,483 1,300 34,912 263 (1,441) 2,521
Impairment of long-lived assets 1,600 7,543 107,744 4,741 28,912 1,649 27,168
Write-down of equity investments 77,360 117,532 43,314 14,848 12,592 85,022 20,963 4,880 2,891 96,322 10,707 7,447 11,103 31,893 8,779 8,633 1,152 27,262 3,303 19,330 434
Other 32,350 22,347 28,186 26,397 42,192 24,043 18,468 26,193 29,328 22,027 70,847 15,312 11,907 15,404 23,040 10,269 15,620 8,497 14,845 8,221 5,157 9,055
Accounts receivable, trade, net 97,459 (140,962) 220,899 (278,280) 208,837 (189,621) 208,222 (311,809) 111,044 (22,099) 220,112 (287,443) 164,880 (153,086) 280,709 (295,856) 155,390 (99,991) 220,778 (313,057) 110,746 (9,882)
Inventories (198,643) (3,263) 14,462 18,646 (182,751) (37,320) 60,321 30,104 (122,291) 53,323 1 42,477 (166,489) (27,907) 153,320 (1,440) (166,664) (6,410) 99,155 35,189 (135,824) (11,266)
Prepaid expenses and other current assets (4,285) (172) 26,058 (36,977) 7,663 (11,251) (3,289) (2,524) (13,840) 28,272 (5,136) (8,101) 19,643 (3,913) 17,138 (21,720) 26,915 (8,740) 19,283 (33,216) (33,275) 7,309
Accounts payable and accrued liabilities (36,325) 16,054 (31,751) 124,895 25,308 98,027 (36,714) 109,684 23,662 (56,900) (90,795) 151,569 (19,940) 636 (67,068) 141,966 (30,999) (2,798) (98,587) 160,389 (15,431) (146,623)
Accrued income taxes (177,875) 174,201 (119,960) 73,038 (75,331) 127,258 (121,918) 23,919 (36,360) 104,677 (94,128) 12,801 (6,094) 71,263 (49,415) 55,370 (71,781) 56,282 (50,130) 71,619 (28,152) 82,231
Contributions to pension and other benefit plans (8,241) (6,532) (61,908) (2,308) (5,873) (8,458) (12,524) (29,238) (4,325) (5,013) 567 (3,905) (4,224) (4,109) (6,275) (4,940) (4,258) (4,661) 841 (12,626) (6,630) (7,449)
Other assets and liabilities 3,235 598 15,961 (16,931) (6,537) (3,718) 30,425 (17,678) 15,324 (7,249) (1,277) 9,044 (3,945) (15,820) 11,482 8,419 5,844 (1,437) (4,698) 15,903 (3,810) (9,866)
Changes in assets and liabilities, net of business acquisition (324,675) 39,924 63,761 (117,917) (28,684) (25,083) 124,523 (197,542) (26,786) 95,011 29,344 (83,558) (16,169) (132,936) 339,891 (118,201) (85,553) (67,755) 186,642 (75,799) (112,376) (95,546)
Adjustments to reconcile net income to net cash provided by operating activities (112,572) 168,212 371,347 46,934 141,750 122,989 339,376 (58,862) 106,782 212,769 313,061 33,961 99,912 (22,690) 566,068 (11,123) 36,097 26,079 375,532 24,566 27,506 1,338
Net cash provided by operating activities 294,411 755,397 767,643 446,421 457,306 656,467 679,167 386,065 408,012 609,640 604,391 481,219 367,954 246,093 770,486 314,059 349,368 329,960 707,132 289,979 250,825 352,057
Capital additions, including software (154,412) (176,093) (159,488) (119,033) (99,897) (141,063) (148,427) (119,843) (113,136) (114,471) (149,575) (106,267) (86,567) (99,217) (81,593) (60,329) (83,456) (92,814) (87,387) (105,295) (75,786) (60,133)
Proceeds from sales of businesses, net of cash and cash equivalents divested (4,902) 171,950
Equity investments in tax credit qualifying partnerships (6,768) (12,309) (115,821) (43,522) (93,688) (22,503) (52,500) (18,472) (32,381) (25,064) (40,773) (20,046) (14,919) (11,473) (27,572) (22,388) (11,386) (18,884) (18,471) (5,143) (22,746) (6,281)
Business acquisitions, net of cash and cash equivalents acquired (165,818) (1,181,572) (1,310) (418,191) (699) (401,461) (423,002) (915,457)
Other investing activities (714) 85 (2,091) 3,564 6,566 (400) (590) 6 593 2,530 322 (5,139) 2,353 21 27,025 (7,077) 79 75 3,107 30,529 16,011 112
Net cash used in investing activities (327,712) (188,317) (277,400) (158,991) (187,019) (163,966) (1,383,089) (139,619) (563,115) (137,005) (190,026) (131,452) (99,133) (110,669) (82,839) (491,255) (94,763) (111,623) (530,655) 92,041 (82,521) (981,759)
Net increase (decrease) in short-term debt 256,684 (90,700) (100,081) (121,045) 41,133 (65,640) 529,049 202,954 143,106 (6,079) 28,361 (152,619) (641,273) 807,290 (1,248,912) 391,890 (282,193) (28,990) (247,560) 402,265 (1,195,716) 1,686,816
Long-term borrowings, net of debt issuance costs 744,092 989,876 984,502 96 3,650 1,370 (46) (30) 1,199,921
Repayment of long-term debt and finance leases (751,180) (1,187) (1,420) (848) (1,423) (1,050) (1,415) (1,072) (351,094) (85,863) (351,331) (1,032) (351,018) (1,086) (1,256) (841) (919) (3,135) 7 (304,311) 1,382 (607,922)
Repayment of tax receivable obligation (29,500) (42,500)
Cash dividends paid (206,190) (207,356) (207,041) (207,005) (179,900) (181,084) (180,793) (180,890) (161,565) (162,739) (162,714) (163,739) (156,476) (157,803) (157,102) (157,727) (149,020) (146,463) (147,343) (147,299) (133,579) (134,300)
Repurchase of common stock (239,910) (33,693) (151,921) (203,350) (23,600) (193,987) (240,359) (42,020) (169,176) (81,341) (191,441) (55,929) (198,500) (47,835) (21,592) (178,073)
Proceeds from exercised stock options 6,827 15,194 3,334 9,054 5,059 16,711 10,322 7,750 16,632 15,117 6,421 1,567 1,144 16,400 5,478 73,929 126,826 34,573 29,869 25,232 6,338 1,884
Taxes withheld and paid on employee stock awards (4,664) (28,289) (793) (782) (4,899) (29,041) (473) (1,277) (2,921) (11,939)
Net cash provided by (used in) financing activities 45,569 (552,248) (339,694) (320,626) (291,951) (463,454) 356,690 3,865 (549,829) (491,862) (479,263) (315,823) (199,767) 495,625 (498,631) 115,906 (357,585) (341,145) (412,908) (24,143) (172,746) 725,905
Effect of exchange rate changes on cash and cash equivalents (26,453) (18,375) (14,401) 21,215 23,331 (20,258) 982 (996) (1,109) (3,952) 3,747 6,614 1,320 (18,671) 1,610 (2,037) 2,978 775 642 (1,442) (4,640) 52
Increase (decrease) in cash and cash equivalents, including cash classified as held for sale (14,185) (3,543) 136,148 (11,981) 1,667 8,789 (346,250) 249,315 (706,041) (23,179) (61,151) 40,558 70,374 612,378 190,626 (63,327) (100,002) (122,033) (235,789) 356,435 (9,082) 96,255
(Increase) decrease in cash and cash equivalents classified as held for sale 11,434 (751) 161 (10,844)
Net increase (decrease) in cash and cash equivalents (14,185) (3,543) 136,148 (11,981) 1,667 8,789 (346,250) 249,315 (706,041) (11,745) (61,902) 40,558 70,535 601,534 190,626 (63,327) (100,002) (122,033) (235,789) 356,435 (9,082) 96,255

Based on: 10-Q (reporting date: 2023-07-02), 10-Q (reporting date: 2023-04-02), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-02), 10-Q (reporting date: 2022-07-03), 10-Q (reporting date: 2022-04-03), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-03), 10-Q (reporting date: 2021-07-04), 10-Q (reporting date: 2021-04-04), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-29), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-07-01), 10-Q (reporting date: 2018-04-01).

Cash flow statement item Description The company
Net cash provided by operating activities Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Hershey Co. net cash provided by operating activities decreased from Q4 2022 to Q1 2023 and from Q1 2023 to Q2 2023.
Net cash used in investing activities Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Hershey Co. net cash used in investing activities increased from Q4 2022 to Q1 2023 but then decreased significantly from Q1 2023 to Q2 2023.
Net cash provided by (used in) financing activities Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Hershey Co. net cash provided by (used in) financing activities decreased from Q4 2022 to Q1 2023 but then increased from Q1 2023 to Q2 2023 exceeding Q4 2022 level.