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.

Ross Stores Inc., consolidated cash flow statement (quarterly data)

US$ in thousands

3 months ended:	Oct 29, 2022	Jul 30, 2022	Apr 30, 2022	Jan 29, 2022	Oct 30, 2021	Jul 31, 2021	May 1, 2021	Jan 30, 2021	Oct 31, 2020	Aug 1, 2020	May 2, 2020	Feb 1, 2020	Nov 2, 2019	Aug 3, 2019	May 4, 2019	Feb 2, 2019	Nov 3, 2018	Aug 4, 2018	May 5, 2018	Feb 3, 2018	Oct 28, 2017	Jul 29, 2017	Apr 29, 2017	Jan 28, 2017	Oct 29, 2016	Jul 30, 2016	Apr 30, 2016
Net earnings (loss)	342,036)	384,517)	338,445)	366,822)	385,030)	494,258)	476,479)	237,980)	131,197)	22,047)	(305,842)	456,133)	370,932)	412,721)	421,142)	441,693)	338,108)	389,404)	418,252)	450,747)	274,449)	316,539)	321,018)	300,568)	244,546)	281,906)	290,634)
Depreciation and amortization	101,384)	97,073)	92,108)	98,525)	88,045)	86,584)	87,510)	96,052)	88,567)	89,028)	90,598)	95,803)	88,191)	84,141)	82,757)	84,206)	83,748)	82,606)	79,797)	85,908)	76,350)	75,085)	75,820)	78,379)	75,506)	74,752)	73,878)
Loss on early extinguishment of debt	—)	—)	—)	—)	—)	—)	—)	184)	239,769)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Stock-based compensation	29,493)	26,803)	36,071)	37,442)	38,517)	29,584)	28,674)	27,301)	27,370)	22,158)	24,739)	24,838)	25,987)	24,924)	19,689)	24,224)	23,781)	23,820)	23,760)	22,480)	22,218)	22,481)	20,238)	18,065)	20,283)	18,490)	17,716)
Gain on sale of assets	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(6,328)	—)	—)	—)	—)	—)	—)	—)
Deferred income taxes	17,242)	29,905)	29,233)	(19,302)	2,012)	7,613)	25,452)	(13,162)	(20,527)	(7,594)	13,471)	8,939)	1,202)	5,325)	16,543)	12,170)	(2,057)	4,822)	16,842)	(43,977)	648)	(2,421)	10,847)	(663)	(13,549)	(5,204)	10,713)
Merchandise inventory	222,876)	(43,327)	(411,278)	(31,031)	(480,215)	(53,035)	(189,010)	121,408)	(512,407)	639,280)	75,076)	336,457)	(332,927)	(22,096)	(63,331)	228,638)	(280,691)	197,067)	(253,721)	198,490)	(231,892)	(13,573)	(81,874)	250,859)	(203,536)	(61,760)	(79,345)
Other current assets	(789)	(959)	(70,331)	51,559)	13,281)	13,826)	(77,246)	(7,674)	20,192)	(140,210)	88,286)	35,846)	9,148)	(13,532)	(41,777)	31,292)	2,673)	(18,726)	(46,028)	30,814)	(6,090)	(19,352)	(37,168)	42,117)	(8,272)	(5,623)	(29,150)
Accounts payable	(164,514)	(98,566)	(189,888)	(286,966)	61,386)	11,351)	349,540)	(187,737)	1,416,284)	311,208)	(600,918)	(191,495)	118,598)	64,396)	122,654)	(217,579)	206,054)	(116,669)	238,677)	(230,204)	116,698)	(7,960)	162,788)	(130,083)	20,558)	68,724)	123,886)
Other current liabilities	(42,803)	59,676)	(325,075)	37,611)	83,021)	149,586)	(71,623)	52,765)	163,350)	224,254)	(268,925)	(13,455)	52,497)	99,679)	(108,208)	1,322)	65,106)	66,618)	(95,966)	(2,499)	110,671)	(101,004)	41,900)	(23,709)	113,493)	(67,523)	54,415)
Income taxes	17,338)	(95,566)	81,625)	15,863)	(32,846)	(148,851)	121,255)	159,319)	25,488)	30,141)	(175,142)	7,380)	(11,426)	(87,399)	56,206)	9,044)	(3,719)	(91,941)	90,322)	—)	—)	—)	—)	—)	—)	—)	—)
Operating lease assets and liabilities, net	3,974)	1,758)	2,902)	2,880)	2,113)	100)	2,554)	4,690)	3,410)	2,568)	3,001)	2,720)	4,635)	5,421)	2,855)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Other long-term, net	2,695)	(1,312)	(79)	(38,207)	(2,086)	1,559)	(765)	(28,316)	28,009)	37,983)	(2,786)	(2,550)	630)	896)	457)	1,595)	2,885)	5,133)	115)	10,214)	4,651)	7,297)	7,269)	(5,910)	645)	6,712)	6,333)
Change in assets and liabilities	38,777)	(178,296)	(912,124)	(248,291)	(355,346)	(25,464)	134,705)	114,455)	1,144,326)	1,105,224)	(881,408)	174,903)	(158,845)	47,365)	(31,144)	54,312)	(7,692)	41,482)	(66,601)	6,815)	(5,962)	(134,592)	92,915)	133,274)	(77,112)	(59,470)	76,139)
Adjustments to reconcile net earnings (loss) to net cash provided by (used in) operating activities	186,896)	(24,515)	(754,712)	(131,626)	(226,772)	98,317)	276,341)	224,830)	1,479,505)	1,208,816)	(752,600)	304,483)	(43,465)	161,755)	87,845)	174,912)	97,780)	152,730)	53,798)	64,898)	93,254)	(39,447)	199,820)	229,055)	5,128)	28,568)	178,446)
Net cash provided by (used in) operating activities	528,932)	360,002)	(416,267)	235,196)	158,258)	592,575)	752,820)	462,810)	1,610,702)	1,230,863)	(1,058,442)	760,616)	327,467)	574,476)	508,987)	616,605)	435,888)	542,134)	472,050)	515,645)	367,703)	277,092)	520,838)	529,623)	249,674)	310,474)	469,080)
Additions to property and equipment	(174,555)	(133,498)	(109,848)	(179,924)	(123,479)	(117,500)	(136,937)	(65,888)	(89,498)	(110,318)	(139,729)	(154,232)	(150,937)	(154,685)	(95,629)	(120,532)	(114,731)	(98,842)	(79,793)	(104,560)	(97,547)	(93,345)	(75,971)	(77,438)	(73,016)	(67,702)	(79,724)
Proceeds from sale of property and equipment	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	15,981)	—)	—)	—)	—)	—)	—)	—)
(Increase) decrease in restricted cash and investments	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	1,482)	1,075)	(187)	(60)	(108)	3,639)	(99)	(44)
Proceeds from investments	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	517)	2,750)	234)	—)	505)	2)	19)	19)	—)	815)	400)	514)	—)
Net cash used in investing activities	(174,555)	(133,498)	(109,848)	(179,924)	(123,479)	(117,500)	(136,937)	(65,888)	(89,498)	(110,318)	(139,729)	(154,232)	(150,937)	(154,685)	(95,112)	(117,782)	(114,497)	(98,842)	(79,288)	(87,095)	(96,453)	(93,513)	(76,031)	(76,731)	(68,977)	(67,287)	(79,768)
Issuance of common stock related to stock plans	6,406)	5,975)	5,917)	6,443)	6,092)	6,471)	6,063)	6,446)	6,013)	5,631)	5,444)	5,758)	5,545)	5,611)	5,295)	5,197)	5,098)	5,135)	4,682)	4,800)	4,511)	4,753)	4,404)	4,357)	4,320)	4,362)	5,500)
Treasury stock purchased	(6,738)	(521)	(38,113)	(253)	(8,077)	(1,637)	(47,378)	(131)	(12,745)	(29)	(32,317)	(3,745)	(4,571)	(1,469)	(50,880)	(704)	(2,619)	(6,263)	(44,798)	7)	(2,277)	(4,409)	(38,754)	(451)	(3,542)	(2,395)	(36,933)
Repurchase of common stock	(243,693)	(235,435)	(239,565)	(233,018)	(241,195)	(175,784)	—)	—)	—)	—)	(132,467)	(309,091)	(325,650)	(320,129)	(320,130)	(268,500)	(277,920)	(273,210)	(255,370)	(226,165)	(218,750)	(215,043)	(215,042)	(169,697)	(178,788)	(175,757)	(175,758)
Dividends paid	(107,455)	(108,285)	(108,908)	(100,603)	(101,136)	(101,865)	(101,519)	7)	3)	—)	(101,414)	(91,423)	(91,728)	(92,920)	(93,722)	(83,326)	(83,892)	(84,561)	(85,410)	(61,067)	(61,497)	(62,167)	(62,795)	(53,086)	(53,470)	(53,848)	(54,236)
Net proceeds from issuance of short-term debt	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	805,601)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Payments of short-term debt	—)	—)	—)	—)	—)	—)	—)	(629)	(801,878)	(2,479)	(615)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Net proceeds from issuance of long-term debt	—)	—)	—)	—)	—)	—)	—)	—)	989,085)	—)	1,976,030)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Payments of long-term debt	—)	—)	—)	(65,000)	—)	—)	—)	—)	(775,009)	—)	—)	—)	—)	—)	—)	(85,000)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Payments of debt extinguishment and debt issuance costs	—)	—)	—)	—)	—)	—)	—)	(688)	(228,746)	(119)	(3,135)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Excess tax benefit from stock-based compensation	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(1,227)	1,876)	2,144)	20,538)
Net cash provided by (used in) financing activities	(351,480)	(338,266)	(380,669)	(392,431)	(344,316)	(272,815)	(142,834)	5,005)	(823,277)	3,004)	2,517,127)	(398,501)	(416,404)	(408,907)	(459,437)	(432,333)	(359,333)	(358,899)	(380,896)	(282,425)	(278,013)	(276,866)	(312,187)	(220,104)	(229,604)	(225,494)	(240,889)
Net increase (decrease) in cash, cash equivalents, and restricted cash and cash equivalents	2,897)	(111,762)	(906,784)	(337,159)	(309,537)	202,260)	473,049)	401,927)	697,927)	1,123,549)	1,318,956)	207,883)	(239,874)	10,884)	(45,562)	66,490)	(37,942)	84,393)	11,866)	146,125)	(6,763)	(93,287)	132,620)	232,788)	(48,907)	17,693)	148,423)

Net Earnings (Loss): The net earnings demonstrate notable volatility over the analyzed quarters. Earnings remained positive and relatively strong from 2016 through early 2020, with occasional peaks, notably over $450 million in early 2018 and early 2020. However, a sharp disruption occurred in Q2 2020, with a significant loss of over $300 million, likely linked to extraordinary circumstances. Earnings rebounded thereafter, recovering positive earnings above $300 million through the end of 2022, although the positive trend has some fluctuations.
Depreciation and Amortization: Depreciation and amortization expenses gradually increased from around $73.8 million in early 2016 to over $101 million by late 2022, indicating ongoing investments in fixed assets and amortizable intangibles over the period, with a steady upward trend and periodic increases.
Stock-Based Compensation: This expense rose steadily across the entire period, starting near $17.7 million in early 2016 and reaching just under $30 million by late 2022. The consistent increase highlights a growing trend in equity-based remuneration costs.
Deferred Income Taxes: Deferred income taxes reveal considerable fluctuation between positive and negative values, reflecting complex tax positions and timing differences. Large swings are apparent especially post-2017, with values shifting from gains to losses periodically, indicating volatility in tax liabilities and assets.
Merchandise Inventory: Inventory changes fluctuate between positive and negative values, with large magnitude swings, indicating inconsistent inventory management or shifts in purchasing and sales patterns. Positive values represent increases in inventory, whereas negative values reflect inventory reduction or sale of inventory. The swings suggest operational adjustments across quarters.
Accounts Payable: Accounts payable exhibit pronounced cyclicality with sharp increases and decreases quarter over quarter. There are instances of extremely high payables in certain quarters (e.g., over $1.4 billion in early 2021) and large negative values at other times, suggesting variable supplier payment timing and working capital management strategies.
Other Current Assets and Liabilities: Other current assets and liabilities display inconsistent and volatile changes over time, often mirroring each other’s movements inversely. This indicates fluctuating short-term operational balances affecting the working capital with irregular patterns.
Income Taxes: Income tax cash outflows and inflows reveal considerable variability, with some quarters showing tax payments exceeding $100 million, while others reflect tax refunds or credits. In particular, the 2020-2022 period reveals strong tax payments aligning with increased earnings.
Operating Lease Assets and Liabilities, Net: These balances introduced from 2018 onwards remain relatively stable with modest changes, reflective perhaps of lease accounting adjustments and stable lease portfolios.
Change in Assets and Liabilities: The changes in assets and liabilities demonstrate significant fluctuations, with both positive and negative extremes through the quarters. The largest movements coincide with periods of high cash flow volatility, evidencing the impacts of operational working capital adjustments on overall cash conversion cycles.
Net Cash Provided by (Used in) Operating Activities: Operating cash flows generally remain positive and robust, albeit reflecting some variability. Notable dips to negative cash flow occurred in Q2 2020, aligning with the net loss spike. The post-2020 period shows strong recovery and high positive cash flows supporting operational resilience.
Additions to Property and Equipment: Capital expenditures (additions to PP&E) steadily increased over the period, from approximately $79 million in early 2016 to above $174 million in late 2022, indicating substantial investments in physical assets aimed at supporting growth or store modernization efforts over time.
Net Cash Used in Investing Activities: Investing cash flows have consistently been negative, reflecting regular capital expenditures exceeding proceeds from disposals or investments. The trend highlights sustained investment activity through all quarters with no significant changes in strategy.
Stock Issuance and Treasury Stock Purchases: Issuance of common stock related to stock plans increased modestly over time, reflecting ongoing employee compensation issuance. Treasury stock purchases show irregular patterns with significant buybacks especially in earlier years and large-scale repurchases continuing through late 2019, indicating active capital return programs through share repurchases.
Repurchase of Common Stock: Large-scale repurchases of common stock dominated financing activities until early 2020, often exceeding $200 million per quarter, evidencing a strong commitment to returning capital to shareholders. Activity notably declined or ceased during the height of financial disruptions in 2020.
Dividends Paid: Dividends paid are relatively stable, generally increasing gradually from around $54 million quarterly to above $100 million by 2022. Dividends appear to be maintained even during periods of volatility, indicating a consistent shareholder return policy.
Debt Issuance and Repayment: There is evidence of significant long-term debt issuance in 2020 and 2021, with proceeds reaching nearly $2 billion at times, likely to bolster liquidity during the challenging environment. Correspondingly, large repayments and extinguishments occurred, reflecting active debt management and restructuring efforts.
Net Cash Provided by (Used in) Financing Activities: Financing activities cash flows are volatile, heavily influenced by debt transactions and share repurchases. While earlier years show consistent cash outflows due to stock repurchases and dividends, 2020 displays a remarkable inflow corresponding with debt issuances. Financing cash flow trends mirror capital structure adjustments and shareholder distributions.
Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash: The net cash position varies widely quarter to quarter, with increments often corresponding to positive operational cash flow and financing activity, but substantial declines seen during high investment outflows or loss periods. The notable spike in cash in mid-2020 aligns with large debt issuances, providing liquidity during uncertain periods.

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Ross Stores Inc. (NASDAQ:ROST)

Cash Flow Statement Quarterly Data

Cash Flow Statement
Quarterly Data