Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Calculate the most current Days of Working Capital for Ulta Beauty. Consolidated Statements of Cash Flows - USD ($) $ in Thousands 6 Months Ended
Calculate the most current Days of Working Capital for Ulta Beauty.
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
---|---|---|
Jul. 29, 2023 | Jul. 30, 2022 | |
Operating activities | ||
Net income | $ 647,153 | $ 627,072 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 119,862 | 123,721 |
Non-cash lease expense | 152,867 | 146,251 |
Deferred income taxes | 666 | 336 |
Stock-based compensation expense | 21,539 | 22,875 |
Loss on disposal of property and equipment | 3,878 | 2,277 |
Change in operating assets and liabilities: | ||
Receivables | 24,978 | 53,168 |
Merchandise inventories | (212,088) | (166,912) |
Prepaid expenses and other current assets | 19,722 | (12,200) |
Income taxes | 8,194 | (45,906) |
Accounts payable | (38,752) | 40,051 |
Accrued liabilities | (102,763) | (49,364) |
Deferred revenue | (40,424) | (37,008) |
Operating lease liabilities | (163,527) | (163,302) |
Other assets and liabilities | (12,497) | (392) |
Net cash provided by operating activities | 428,808 | 540,667 |
Investing activities | ||
Capital expenditures | (204,748) | (120,500) |
Other investments | (1,687) | (1,249) |
Net cash used in investing activities | (206,435) | (121,749) |
Financing activities | ||
Repurchase of common shares | (559,011) | (434,448) |
Stock options exercised | 9,147 | 24,521 |
Purchase of treasury shares | (21,759) | (6,325) |
Net cash used in financing activities | (571,623) | (416,252) |
Net (decrease) increase in cash and cash equivalents | (349,250) | 2,666 |
Cash and cash equivalents at beginning of period | 737,877 | 431,560 |
Cash and cash equivalents at end of period | 388,627 | 434,226 |
Supplemental information | ||
Income taxes paid, net of refunds | 189,166 | 246,641 |
Non-cash capital expenditures | $ 51,860 | $ 42,451 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started