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.

Williams-Sonoma Inc., consolidated cash flow statement

US$ in thousands

12 months ended:	Jan 28, 2024	Jan 29, 2023	Jan 30, 2022	Jan 31, 2021	Feb 2, 2020	Feb 3, 2019
Net earnings	949,762)	1,127,904)	1,126,337)	680,714)	356,062)	333,684)
Depreciation and amortization	232,590)	214,153)	196,087)	188,655)	187,759)	188,808)
Loss on disposal/impairment of assets	21,869)	25,116)	1,015)	32,365)	1,755)	10,209)
Non-cash lease expense	255,286)	231,350)	216,888)	216,368)	215,810)	—)
Deferred income taxes	(29,085)	(23,823)	2,535)	(13,061)	(2,557)	23,639)
Stock-based compensation expense	84,754)	90,268)	95,240)	73,185)	64,163)	59,802)
Other	(2,796)	(2,339)	(3,994)	(6,047)	(7,740)	(26,778)
Accounts receivable	(7,461)	15,687)	11,896)	(31,503)	(5,034)	(15,329)
Merchandise inventories	209,168)	(208,908)	(239,981)	99,144)	24,219)	(70,331)
Prepaid expenses and other assets	1,016)	(11,823)	(2,060)	(16,388)	(3,189)	(54,691)
Accounts payable	99,043)	(113,521)	56,674)	25,489)	(11,051)	62,377)
Accrued expenses and other liabilities	4,935)	(61,995)	49,460)	129,142)	13,259)	45,976)
Gift card and other deferred revenue	95,005)	31,839)	75,460)	82,841)	(640)	38,899)
Deferred rent and lease incentives	—)	—)	—)	—)	—)	24,929)
Operating lease liabilities	(269,162)	(242,855)	(224,567)	(232,989)	(226,257)	—)
Income taxes payable	35,349)	(18,231)	10,157)	46,933)	735)	(35,208)
Changes in operating assets and liabilities	167,893)	(609,807)	(262,961)	102,669)	(207,958)	(3,378)
Adjustments to reconcile net earnings to net cash provided by operating activities	730,511)	(75,082)	244,810)	594,134)	251,232)	252,302)
Net cash provided by operating activities	1,680,273)	1,052,822)	1,371,147)	1,274,848)	607,294)	585,986)
Purchases of property and equipment	(188,458)	(354,117)	(226,517)	(169,513)	(186,276)	(190,102)
Other	201)	162)	270)	629)	728)	2,203)
Net cash used in investing activities	(188,257)	(353,955)	(226,247)	(168,884)	(185,548)	(187,899)
Repurchases of common stock	(313,001)	(880,038)	(899,433)	(150,000)	(148,834)	(295,304)
Payment of dividends	(232,475)	(217,345)	(187,539)	(157,645)	(150,640)	(140,325)
Tax withholdings related to stock-based awards	(52,831)	(81,290)	(104,235)	(31,729)	(27,752)	(14,437)
Repayment of long-term debt	—)	—)	(300,000)	—)	—)	—)
Debt issuance costs	—)	—)	(778)	(3,645)	—)	—)
Borrowings under revolving line of credit	—)	—)	—)	487,823)	100,000)	60,000)
Repayments under the revolving line of credit	—)	—)	—)	(487,823)	(100,000)	(60,000)
Net cash used in financing activities	(598,307)	(1,178,673)	(1,491,985)	(343,019)	(327,226)	(450,066)
Effect of exchange rates on cash and cash equivalents	954)	(3,188)	(2,914)	5,230)	(1,312)	797)
Net increase (decrease) in cash and cash equivalents	894,663)	(482,994)	(349,999)	768,175)	93,208)	(51,182)
Cash and cash equivalents at beginning of year	367,344)	850,338)	1,200,337)	432,162)	338,954)	390,136)
Cash and cash equivalents at end of year	1,262,007)	367,344)	850,338)	1,200,337)	432,162)	338,954)

Based on: 10-K (reporting date: 2024-01-28), 10-K (reporting date: 2023-01-29), 10-K (reporting date: 2022-01-30), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-02-02), 10-K (reporting date: 2019-02-03).

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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.	Williams-Sonoma Inc. net cash provided by operating activities decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.
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.	Williams-Sonoma Inc. net cash used in investing activities decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.
Net cash 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.	Williams-Sonoma Inc. net cash used in financing activities increased from 2022 to 2023 and from 2023 to 2024.

Williams-Sonoma Inc. (NYSE:WSM)

Cash Flow Statement