This company has been moved to the archive! The financial data has not been updated since May 26, 2023.
Cash Flow Statement
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.
RH, consolidated cash flow statement
US$ in thousands
12 months ended:
Jan 28, 2023
Jan 29, 2022
Jan 30, 2021
Feb 1, 2020
Feb 2, 2019
Feb 3, 2018
Net income
528,642)
688,546)
271,815)
220,375)
150,639)
2,180)
Depreciation and amortization
108,588)
96,022)
100,040)
100,739)
74,346)
70,135)
Non-cash operating lease cost
75,185)
72,479)
64,132)
65,195)
—)
—)
Goodwill and tradename impairment
—)
—)
20,459)
—)
32,086)
33,700)
Asset impairments
24,186)
9,630)
6,484)
15,168)
5,634)
6,481)
(Gain) loss on sale leaseback transaction
—)
—)
9,352)
(1,196)
—)
—)
Amortization of debt discount
—)
28,816)
42,372)
46,245)
41,868)
30,457)
Stock-based compensation expense
43,546)
48,478)
145,704)
21,832)
23,983)
50,709)
Non-cash compensation related to consolidated variable interest entities
4,470)
—)
—)
—)
—)
—)
Non-cash finance lease interest expense
32,051)
26,412)
24,011)
22,608)
—)
—)
Product recalls
560)
1,940)
7,370)
(3,517)
6,874)
7,707)
Amortization of purchase premiums and accretion of purchase discount, net
—)
—)
—)
—)
—)
99)
Deferred income taxes
(91,988)
(6,921)
(4,920)
(7,709)
263)
6,572)
(Gain) loss on extinguishment of debt
169,578)
29,138)
(152)
6,472)
917)
1,880)
Share of equity method investments losses
2,055)
8,214)
888)
—)
—)
—)
Other non-cash items
5,213)
(6,649)
3,998)
4,001)
4,790)
7,852)
Cash paid attributable to accretion of debt discount upon settlement of debt
—)
(55,243)
(84,003)
(70,482)
—)
—)
Accounts receivable
(1,846)
1,564)
(10,485)
(7,309)
(8,883)
2,758)
Merchandise inventories
(77,193)
(190,074)
(104,621)
93,266)
(7,399)
220,767)
Prepaid expense and other assets
(102,521)
(49,555)
(67,349)
28,404)
(78,454)
45,537)
Landlord assets under construction, net of tenant allowances
(51,369)
(68,454)
(69,508)
(64,300)
—)
—)
Accounts payable and accrued expenses
(56,264)
43,435)
63,583)
7,445)
(452)
64,460)
Deferred revenue and customer deposits
(62,086)
107,306)
116,205)
9,799)
8,413)
3,366)
Other current liabilities
(37,653)
(9,778)
43,856)
(45,767)
51,215)
680)
Current and non-current operating lease liabilities
(76,968)
(77,252)
(58,920)
(77,004)
—)
—)
Deferred rent and lease incentives
—)
—)
—)
—)
(1,111)
1,059)
Other non-current obligations
(32,499)
(35,940)
(19,541)
(25,077)
(4,173)
(1,297)
Change in assets and liabilities
(498,399)
(278,748)
(106,780)
(80,543)
(40,844)
337,330)
Adjustments to reconcile net income to net cash provided by operating activities
(124,955)
(26,432)
228,955)
118,813)
149,917)
552,922)
Net cash provided by operating activities
403,687)
662,114)
500,770)
339,188)
300,556)
555,102)
Capital expenditures
(173,642)
(185,383)
(111,126)
(93,623)
(136,736)
(112,455)
Proceeds from sale of asset
5,287)
—)
25,006)
24,078)
—)
15,123)
Equity method investments
(2,713)
(8,970)
(80,723)
—)
—)
—)
Acquisition of business and assets
—)
—)
(17,900)
—)
—)
(39)
Deposits on asset under construction
—)
—)
(12,857)
(53,000)
—)
(14,387)
Purchase of investments
—)
—)
—)
—)
—)
(16,109)
Maturities of investments
—)
—)
—)
—)
—)
46,890)
Sales of investments
—)
—)
—)
—)
—)
145,020)
Net cash (used in) provided by investing activities
(171,068)
(194,353)
(197,600)
(122,545)
(136,736)
64,043)
Borrowings under asset based credit facility
—)
—)
359,401)
322,500)
866,500)
600,000)
Repayments under asset based credit facility
—)
—)
(359,401)
(380,000)
(1,008,970)
(400,030)
Borrowings under term loans
500,000)
2,000,000)
—)
320,000)
—)
180,000)
Repayments under term loans
(21,250)
(5,000)
—)
(324,000)
(80,000)
(100,000)
Borrowings under real estate loans
16,000)
—)
—)
—)
—)
—)
Repayments under real estate loans
(10)
—)
—)
—)
—)
—)
Borrowings under promissory and equipment security notes
—)
—)
12,857)
122,000)
—)
34,000)
Repayments under promissory and equipment security notes
(13,863)
(22,949)
(34,456)
(16,520)
(31,974)
(2,319)
Proceeds from issuance of convertible senior notes
—)
—)
—)
350,000)
335,000)
—)
Proceeds from issuance of warrants
—)
—)
—)
50,225)
51,021)
—)
Purchase of convertible note hedges
—)
—)
—)
(91,350)
(91,857)
—)
Debt issuance costs related to convertible senior notes
—)
—)
—)
(4,818)
(6,349)
—)
Repayments of convertible senior notes
(13,064)
(335,729)
(215,846)
(278,560)
—)
—)
Repayment under convertible senior notes repurchase obligation
(395,372)
—)
—)
—)
—)
—)
Debt extinguishment costs
(8,059)
—)
—)
—)
—)
—)
Debt issuance costs
(28,069)
(26,411)
—)
(4,636)
—)
(8,298)
Principal payments under finance lease agreements, net of tenant allowances
(10,146)
(14,158)
(12,498)
(9,682)
—)
(377)
Proceeds from termination of convertible senior note hedges
231,796)
—)
—)
—)
—)
—)
Payments for termination of common stock warrants
(390,934)
—)
—)
—)
—)
—)
Repurchases of common stock
(1,000,000)
—)
—)
(250,032)
(250,000)
(1,000,326)
Borrowing on build-to-suit lease transactions
—)
—)
—)
—)
7,077)
—)
Payments on build-to-suit lease transactions
—)
—)
—)
—)
(7,452)
(10,200)
Proceeds from exercise of stock options
231,297)
32,045)
14,377)
27,138)
44,024)
24,896)
Tax withholdings related to issuance of stock-based awards
(803)
(20,671)
(8,348)
(7,069)
(9,502)
(5,759)
Other financing activities
—)
—)
—)
—)
(719)
—)
Net cash provided by (used in) financing activities
(902,477)
1,607,127)
(243,914)
(174,804)
(183,201)
(688,413)
Effects of foreign currency exchange rate translation
(243)
(95)
157)
16)
(130)
152)
Net increase (decrease) in cash and cash equivalents, restricted cash and restricted cash equivalents
(670,101)
2,074,793)
59,413)
41,855)
(19,511)
(69,116)
Cash and cash equivalents, restricted cash and restricted cash equivalents, beginning of period
2,181,864)
107,071)
47,658)
5,803)
25,314)
87,023)
Cash and cash equivalents, restricted cash and restricted cash equivalents, end of period
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.
RH net cash provided by operating activities increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Net cash (used in) provided by 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.
RH net cash (used in) provided by investing activities increased from 2021 to 2022 and from 2022 to 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.
RH net cash provided by (used in) financing activities increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
