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.
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GameStop Corp., consolidated cash flow statement (quarterly data)
US$ in thousands
Based on: 10-Q (reporting date: 2024-05-04), 10-K (reporting date: 2024-02-03), 10-Q (reporting date: 2023-10-28), 10-Q (reporting date: 2023-07-29), 10-Q (reporting date: 2023-04-29), 10-K (reporting date: 2023-01-28), 10-Q (reporting date: 2022-10-29), 10-Q (reporting date: 2022-07-30), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-29), 10-Q (reporting date: 2021-10-30), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-05-01), 10-K (reporting date: 2021-01-30), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-08-01), 10-Q (reporting date: 2020-05-02), 10-K (reporting date: 2020-02-01), 10-Q (reporting date: 2019-11-02), 10-Q (reporting date: 2019-08-03), 10-Q (reporting date: 2019-05-04), 10-K (reporting date: 2019-02-02), 10-Q (reporting date: 2018-11-03), 10-Q (reporting date: 2018-08-04), 10-Q (reporting date: 2018-05-05).
- Net Income (Loss)
- The company's net income exhibits significant volatility across the periods, with large losses recorded particularly between late 2018 and 2020. Notable losses were seen in November 2018 (-488.6 million) and August 2019 (-415.3 million). Positive net income occurred sporadically, with the highest quarter in May 2018 (28.2 million) and January 2021 (80.5 million). The trend indicates continued instability in profitability up to mid-2024, with somewhat improved but still inconsistent earnings.
- Depreciation and Amortization
- This expense decreases gradually over the periods, from 34.4 million in May 2018 to a low around 11.3 million in late 2023, then slightly increasing to 18.6 million by May 2024. The general decline suggests reduced capital asset base or changes in accounting estimates.
- Stock-based Compensation Expense
- Expenses exhibit fluctuations, initially low (2 to 3 million range) with occasional negative amounts indicating reversals. There is an upward trend starting in early 2021 with peaks around 11 million in early 2022, followed by variable but generally lower values thereafter. This volatility may reflect changes in equity compensation programs or accounting treatment.
- Asset Impairments and Gains/Losses on Disposal
- Significant impairments were recognized notably in November 2018 (587.5 million) and August 2019 (363.9 million), indicating large write-downs of assets during these periods. Gains and losses on disposal of property and equipment fluctuate without a clear trend, showing both gains (negative losses) and losses sporadically, with notable losses in late 2020.
- Changes in Operating Assets and Liabilities
- These changes show pronounced volatility, with large positive and negative swings, such as a large negative change of -694.1 million in May 2019 and a positive 325.4 million in February 2019. This variable pattern indicates uneven working capital management and likely reflects inventory, payables, and receivables fluctuations.
- Net Cash Flows from Operating Activities
- Consistent with net income volatility, operating cash flows are highly inconsistent. There are periods of strong inflows (e.g., February 2019 with 504.3 million) and significant outflows (e.g., May 2019 with -665 million). The pattern suggests unstable operating performance and cash conversion issues over the reviewed timeframe.
- Merchandise Inventories, Net
- Inventories vary widely, reflecting erratic inventory management or large write-downs. Negative values appear in periods such as November 2018 (-807.9 million) and October 2020 (-382.6 million), indicating inventory reductions or impairments, while positive spikes suggest restocking or accumulation.
- Accounts Payable and Accrued Liabilities
- These liabilities exhibit substantial fluctuations. Extremely large negative balances in May 2018 (-678.2 million) contrast with large positive values in November 2018 (946.9 million) and October 2022 (672.7 million), signifying inconsistent payables management or timing differences in expenses recognition.
- Investing Activities
- Cash flows from investing activities show variability, including an unusually large inflow of 701.7 million in February 2019, likely linked to divestiture proceeds. Capital expenditures remain relatively steady, averaging about 10 to 25 million per quarter with a slight declining trend over time. Proceeds from sales of assets and marketable securities fluctuate greatly, indicating sporadic investment and divestment activity.
- Financing Activities
- There is a significant surge in proceeds from issuance of common stock starting in late 2020, with over one billion raised in some quarters, reflecting equity financing efforts. Repurchases of common shares are notable during mid to late 2019, indicating active share buybacks. Borrowings and repayments on revolver and term loans show fluctuating balances, consistent with ongoing debt management. Dividend payments appear sporadic and decrease over time.
- Cash Position Variability
- The company’s cash, cash equivalents, and restricted cash show marked volatility with large decreases such as -612.7 million in May 2018 and increases including 1.17 billion in February 2019. This reflects the combined effects of fluctuating operational, investing, and financing cash flows, reinforcing the pattern of inconsistent liquidity management.