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.

Deckers Outdoor Corp., consolidated cash flow statement

US$ in thousands

12 months ended:	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021	Mar 31, 2020	Mar 31, 2019	Mar 31, 2018
Net income	516,822)	451,949)	382,575)	276,142)	264,308)	114,394)
Depreciation, amortization, and accretion	47,858)	42,878)	40,530)	38,912)	44,941)	48,572)
Amortization on cloud computing arrangements	2,149)	1,552)	737)	—)	—)	—)
Loss on extinguishment of debt	226)	—)	—)	—)	447)	—)
Bad debt expense (benefit)	1,983)	(342)	3,053)	3,498)	2,849)	4,168)
Deferred tax expense (benefit)	(9,719)	(27,796)	(8,171)	2,934)	6,939)	8,138)
Stock-based compensation	26,897)	26,816)	22,701)	14,477)	14,774)	14,302)
Loss on disposal of long-lived assets	2,691)	107)	1,019)	698)	277)	387)
Impairment of intangible assets	—)	—)	3,522)	—)	—)	—)
Impairment of operating lease and other long-lived assets	2,817)	3,186)	14,084)	1,365)	180)	2,417)
Restructuring charges	—)	—)	—)	—)	295)	1,667)
Gain on settlement of asset retirement obligations	—)	—)	(207)	(705)	—)	—)
Trade accounts receivable, net	(806)	(86,627)	(33,173)	(10,493)	(16,157)	10,770)
Inventories	(26,056)	(228,554)	33,378)	(32,777)	8,827)	(751)
Prepaid expenses and other current assets	(5,609)	(19,095)	(22,128)	2,477)	(515)	11,124)
Income tax receivable	13,459)	(11,933)	1,842)	(5,811)	(165)	26,999)
Net operating lease assets and lease liabilities	(8,308)	3,189)	250)	(3,264)	—)	—)
Other assets	13,240)	(28,296)	(3,103)	(6,558)	2,630)	(1,714)
Trade accounts payable	(74,247)	89,184)	79,176)	23,312)	31,035)	(2,184)
Other accrued expenses	11,528)	(20,370)	53,785)	(11,112)	(7,160)	28,627)
Income tax payable	4,897)	(24,494)	25,817)	(8,179)	3,809)	(1,693)
Other long-term liabilities	17,600)	999)	530)	1,418)	2,191)	62,128)
Changes in operating assets and liabilities	(54,302)	(325,997)	136,374)	(50,987)	24,495)	133,306)
Reconciliation of net income to net cash provided by operating activities	20,600)	(279,596)	213,642)	10,192)	95,197)	212,957)
Net cash provided by operating activities	537,422)	172,353)	596,217)	286,334)	359,505)	327,351)
Purchases of property and equipment	(81,025)	(51,017)	(32,218)	(32,455)	(29,086)	(34,813)
Proceeds from sales of property and equipment	12)	8)	49)	491)	68)	116)
Net cash used in investing activities	(81,013)	(51,009)	(32,169)	(31,964)	(29,018)	(34,697)
Proceeds from short-term borrowings	—)	—)	9,100)	69,336)	162,001)	214,751)
Repayments of short-term borrowings	—)	—)	(9,478)	(69,197)	(161,621)	(214,889)
Debt issuance costs on short-term borrowings	—)	—)	—)	—)	(1,297)	—)
Loan origination costs on revolving credit facilities	(1,537)	—)	—)	—)	—)	—)
Proceeds from issuance of stock	2,170)	1,991)	1,502)	1,288)	1,024)	765)
Proceeds from exercise of stock options	4,396)	1,204)	6,775)	3,615)	—)	—)
Repurchases of common stock	(297,372)	(356,653)	(99,147)	(190,405)	(161,395)	(149,687)
Cash paid for shares withheld for taxes	(16,688)	(14,024)	(7,432)	(6,148)	(5,328)	(8,105)
Repayments of mortgage principal	—)	—)	(30,901)	(603)	(578)	(550)
Net cash used in financing activities	(309,031)	(367,482)	(129,581)	(192,114)	(167,194)	(157,715)
Effect of foreign currency exchange rates on cash and cash equivalents	(9,110)	304)	5,458)	(2,512)	(3,571)	3,267)
Net change in cash and cash equivalents	138,268)	(245,834)	439,925)	59,744)	159,722)	138,206)
Cash and cash equivalents at beginning of period	843,527)	1,089,361)	649,436)	589,692)	429,970)	291,764)
Cash and cash equivalents at end of period	981,795)	843,527)	1,089,361)	649,436)	589,692)	429,970)

Based on: 10-K (reporting date: 2023-03-31), 10-K (reporting date: 2022-03-31), 10-K (reporting date: 2021-03-31), 10-K (reporting date: 2020-03-31), 10-K (reporting date: 2019-03-31), 10-K (reporting date: 2018-03-31).

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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.	Deckers Outdoor Corp. net cash provided by operating activities decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 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.	Deckers Outdoor Corp. net cash used in investing activities decreased from 2021 to 2022 and from 2022 to 2023.
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.	Deckers Outdoor Corp. net cash used in financing activities decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.

Deckers Outdoor Corp. (NYSE:DECK)

Cash Flow Statement