BlueLinx Holdings Inc
For the period ended Dec 30, 2023. Filed Feb 20, 2024.
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FY2023 · Filed Feb 20, 2024
BXC$63.42-2.7%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Fiscal Year Ended December 30, 2023 | Fiscal Year Ended December 31, 2022 | Fiscal Year Ended January 1, 2022 | |
|---|---|---|---|
| (In thousands) | |||
| Cash flows from operating activities: | |||
| Net income | $48,536 | $296,176 | $296,133 |
| Adjustments to reconcile net income to cash provided by operations: | |||
| Depreciation and amortization | 32,043 | 27,613 | 28,192 |
| Settlement of frozen defined benefit pension plan | 30,440 | — | — |
| Amortization of debt discount and issuance costs | 1,319 | 1,153 | 1,411 |
| Adjustment to debt issuance cost associated with term loan/revolver | — | — | 7,394 |
| Gains from sales of property | — | (144) | (8,427) |
| Provision for deferred income taxes | 7,756 | 5,289 | 356 |
| Share-based compensation | 12,055 | 9,617 | 6,590 |
| Amortization of deferred gains from real estate | (3,934) | (3,934) | (3,935) |
| Other income statement items | (909) | — | — |
| Changes in operating assets and liabilities, net of business acquisition: | |||
| Accounts receivable | 23,145 | 101,266 | (45,994) |
| Inventories | 140,875 | 20,759 | (146,350) |
| Accounts payable | 5,973 | (31,808) | 14,837 |
| Taxes payable | 9,584 | (6,138) | (1,709) |
| Employer contributions due to the single-employer defined benefit pension plan | (6,900) | (11,876) | (1,100) |
| Other current assets | 15,513 | (11,635) | 712 |
| Other assets and liabilities | (9,211) | 3,959 | (3,087) |
| Net cash provided by operating activities | 306,285 | 400,297 | 145,023 |
| Cash flows from investing activities: | |||
| Acquisition of business, net of cash acquired | 300 | (63,767) | — |
| Proceeds from sales of assets and properties | 357 | 964 | 10,327 |
| Property and equipment investments | (27,520) | (35,886) | (14,415) |
| Net cash used in investing activities | (26,863) | (98,689) | (4,088) |
| Cash flows from financing activities: | |||
| Borrowings on revolving credit facilities | — | — | 949,080 |
| Repayments on revolving credit facilities | — | — | (1,235,724) |
| Repayments on term loan | — | — | (43,204) |
| Proceeds from senior secured notes | — | — | 295,861 |
| Common stock repurchases | (42,135) | (66,427) | — |
| Debt financing costs | — | — | (5,459) |
| Repurchase of shares to satisfy employee tax withholdings | (5,279) | (10,534) | (5,193) |
| Principal payments on finance lease liabilities | (9,208) | (10,907) | (11,175) |
| Net cash used in financing activities | (56,622) | (87,868) | (55,814) |
| Net change in cash and cash equivalents | 222,800 | 213,740 | 85,121 |
| Cash and cash equivalents at beginning fiscal year | 298,943 | 85,203 | 82 |
| Cash and cash equivalents at end of fiscal year | $521,743 | $298,943 | $85,203 |
| Supplemental cash flow information: | |||
| Net income tax payments during the fiscal year | $19,239 | $111,197 | $98,855 |
| Interest paid during the fiscal year | $43,438 | $44,054 | $33,236 |
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