← Grocery Outlet Holding Corp.

Annual Trend FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:
Net Income From Continuing Operations — — — — — $65.1m $79.4m $39.5m ($224.9m) —
Net Income (Loss) Attributable to Parent $20.6m $15.9m $15.4m $106.7m $106.7m $65.1m $79.4m $39.5m ($224.9m) ($224.9m)
Depreciation, Depletion and Amortization — $45.4m $47.9m $55.5m — $75.2m $76.6m $108.2m $107.6m —
Depreciation, Depletion and Amortization — $45.4m $47.9m $55.5m — $75.2m $76.6m $108.2m $107.6m —
Amortization of Debt Issuance Costs and Discounts $4.4m $4.1m $2.5m $2.5m $2.5m $2.3m $1.1m $910k — $928k
Amortization of Debt Issuance Costs $4.4m $4.0m $2.4m $2.3m $2.5m $2.5m $1.1m $910k — $928k
Amortization of Intangible Assets $11.3m $10.0m $6.7m $6.5m $7.3m $6.6m $10.1m $15.7m — $22.8m
Depreciation — $37.1m $42.9m $50.7m — $70.5m $76.6m $90.7m $107.6m —
Depreciation of property and equipment $31.8m $37.1m $42.9m — $50.7m $63.4m $76.6m $90.7m — $107.6m
Amortization of intangible and other assets $11.3m $10.0m $7.2m — $7.3m $7.7m $11.4m $17.5m — $22.8m
Amortization of debt issuance costs and debt discounts $4.4m $4.1m $2.5m — $2.5m $2.5m $1.1m $910k — $928k
Amortization Cash Flow — — — — — $7.8m $11.4m $17.5m $22.8m —
Amortization Of Intangibles — — — — — $7.8m $11.4m $17.5m $22.8m —
Depreciation Amortization Depletion — — — — — $78.3m $88.0m $108.2m $130.4m —
Deferred Income Tax Expense (Benefit) — $5.8m $872k ($19.6m) — $10.4m $18.8m $12.1m — —
Deferred income taxes $4.7m $5.8m $872k — ($19.6m) $12.9m $18.8m $12.1m — ($23.0m)
Deferred Income Tax — — — — — $10.4m $18.8m $12.1m ($23.0m) —
Deferred Tax — — — — — $10.4m $18.8m $12.1m ($23.0m) —
Share-based Payment Arrangement, Noncash Expense — $10.4m $31.4m $38.1m — $32.6m $31.1m $10.5m — —
Payment, Tax Withholding, Share-based Payment Arrangement $172k $34k $2.8m $483k $483k $0 $537k $0 — $0
Share-based Payment Arrangement, Expense — $10.4m $31.4m $38.1m — $32.6m $31.1m $26.4m — —
Goodwill and Intangible Asset Impairment — $0 $0 $0 — — — — — —
Goodwill, Impairment Loss — — — — — $0 $0 $0 — —
Impairment of Intangible Assets (Excluding Goodwill) — — — — — $0 $0 $0 — —
Impairment of long-lived assets — — — — — $0 $0 $15.9m — $121.5m
Goodwill impairment — — — — — — $0 $0 — $149.0m
Share-based compensation $1.7m $10.4m $31.4m — $38.1m $17.6m $31.1m $10.5m — $10.5m
Tax withholding related to net settlement of employee share-based awards ($172k) ($34k) ($2.8m) — ($483k) $0 ($537k) $0 — $0
Asset Impairment Charge — — — — — $0 $0 $15.9m $270.5m —
Income Tax Expense (Benefit) — $6.0m $1.4m ($19.6m) — $10.7m $24.6m $16.7m — —
Loss on debt extinguishment and modification — — — — $198k $1.3m $5.3m $0 — $0
Operating lease liabilities — — — — $12.3m $12.7m $10.8m $17.7m — $25.3m
Changes in operating assets and liabilities:
Additional Financial Items
Increase (Decrease) in Inventories — $15.3m $21.1m $25.7m — $58.8m $15.7m $30.0m — —
Accounts Receivable, Credit Loss Expense (Reversal) — $749k $2.6m ($456k) — $4.3m $3.7m $4.9m — —
Accrued capital expenditures — $64.8m $97.2m $124.9m — $130.5m $169.0m $186.6m — —
General and Administrative Expense — — — — — — — $210.0m — —
Goodwill — $747.9m $747.9m $747.9m — $747.9m $747.9m $782.7m — —
Insured Event, Gain (Loss) — — — — — $0 $0 — — —
Investment Income, Interest — $1.4m $2.0m $1.8m — $3.4m $7.6m $6.7m — —
Nonoperating Income (Expense) — ($60.6m) ($51.6m) ($20.2m) — ($19.2m) ($21.7m) ($22.2m) — —
Operating Expenses — $612.9m $718.8m $866.0m — $997.1m — — — —
Non-cash rent — — — — $10.7m $6.9m $5.2m $4.8m — $7.2m
Provision for independent operator and other accounts receivable reserves $3.0m $749k $2.6m — ($456k) $4.8m $3.7m $4.9m — $12.8m
Other $549k $1.3m $2.0m — $2.0m $1.3m $487k $1.0m — $2.7m
Independent operator and other accounts receivable ($2.6m) ($642k) ($3.6m) — ($4.9m) ($21k) ($11.0m) ($7.5m) — ($11.2m)
Merchandise inventories ($18.2m) ($15.3m) ($21.1m) — ($25.7m) ($30.3m) ($15.7m) ($30.0m) — $12.2m
Prepaid expenses and other assets ($1.3m) ($1.5m) $498k — ($6.6m) $3.3m ($10.7m) $7.6m — $1.9m
Income and other taxes payable $881k $159k $1.2m — $2.9m ($362k) $5.9m ($3.8m) — $1.2m
Trade accounts payable $13.2m $16.3m $22.6m — $4.8m $3.2m $91.0m ($36.9m) — $2.1m
Accrued and other liabilities — — — — — $251k $19.7m ($25.2m) — $5.5m
Accrued compensation — — — — — $18.7m ($2.4m) ($7.8m) — ($1.9m)
Advances to independent operators ($8.5m) ($10.5m) ($12.8m) — ($10.4m) ($10.0m) ($8.6m) ($11.4m) — ($13.6m)
Repayments of advances from independent operators $3.5m $3.7m $4.5m — $6.8m $4.6m $5.7m $4.8m — $4.2m
Proceeds from sales of assets $1.3m $1.1m $586k — $269k $37k $24k $0 — $39k
Investments in intangible assets and licenses ($3.1m) ($3.2m) ($3.1m) — ($5.9m) ($9.8m) ($23.0m) ($20.3m) — ($22.0m)
Proceeds from insurance recoveries - property and equipment — $0 $0 — $305k $1.9m $632k $0 — $0
Proceeds from exercise of stock options $0 $29k $4.4m — $32.6m $7.2m $6.0m $8.8m — $700k
Proceeds from senior term loan due 2028 $0 $871.7m $0 — $0 $0 $300.0m $0 — $0
Proceeds from revolving credit facility — $0 $0 — $90.0m $0 $25.0m $190.0m — $70.0m
Principal payments on revolving credit facility — $0 $0 — ($90.0m) $0 ($25.0m) $0 — ($40.0m)
Principal payments on senior term loans ($5.3m) ($725.0m) ($414.8m) — ($188k) $0 ($390.6m) ($5.6m) — ($15.0m)
Principal payments on finance leases ($89k) ($94k) ($865k) — ($1.0m) ($1.2m) ($1.4m) ($2.0m) — ($1.4m)
Purchases of property and equipment accrued at end of period $6.9m $7.9m $10.5m — $15.6m $15.0m $7.3m $12.8m — $16.3m
Investments in intangible assets accrued at end of period — — $0 — $1.1m $1.6m $5.5m $1.3m — $1.3m
Beginning Cash Position — — — — — $140.1m $102.7m $115.0m $62.8m —
Cash Flow From Continuing Financing Activities — — — — — ($72.9m) ($97.0m) $109.9m $14.3m —
Cash Flow From Continuing Investing Activities — — — — — ($149.9m) ($194.2m) ($274.0m) ($229.7m) —
Change In Account Payable — — — — — $16.1m $73.8m ($36.9m) $2.1m —
Change In Accrued Expense — — — — — $19.0m $17.3m ($33.0m) $3.5m —
Change In Income Tax Payable — — — — — $705k $5.9m ($3.8m) $1.2m —
Change In Inventory — — — — — ($58.8m) ($15.7m) ($30.0m) $12.2m —
Change In Other Current Liabilities — — — — — $12.7m $10.8m $17.7m $25.3m —
Change In Payable — — — — — $16.8m $79.7m ($40.7m) $3.3m —
Change In Payables And Accrued Expense — — — — — $35.8m $97.0m ($73.7m) $6.8m —
Change In Prepaid Assets — — — — — $841k ($10.7m) $7.6m $1.9m —
Change In Receivables — — — — — ($7.2m) ($11.0m) ($7.5m) ($11.2m) —
Change In Tax Payable — — — — — $705k $5.9m ($3.8m) $1.2m —
Change In Working Capital — — — — — ($16.7m) $70.3m ($85.8m) $35.0m —
Changes In Cash — — — — — ($37.4m) $12.3m ($52.2m) $6.8m —
End Cash Position — — — — — $102.7m $115.0m $62.8m $69.6m —
Financing Cash Flow — — — — — ($72.9m) ($97.0m) $109.9m $14.3m —
Free Cash Flow — — — — — $38.4m $111.5m ($95.0m) $1.8m —
Investing Cash Flow — — — — — ($149.9m) ($194.2m) ($274.0m) ($229.7m) —
Net Business Purchase And Sale — — — — — $0 $0 ($60.5m) $0 —
Net Intangibles Purchase And Sale — — — — — ($16.6m) ($23.0m) ($20.3m) ($22.0m) —
Net PPE Purchase And Sale — — — — — ($130.5m) ($169.0m) ($186.6m) ($198.3m) —
Operating Gains Losses — — — — — $1.3m $5.3m — — —
Other Non Cash Items — — — — — $10.4m $6.8m $6.7m $10.9m —
Proceeds From Stock Option Exercised — — — — — $6.9m $6.0m $8.8m $700k —
Provisionand Write Offof Assets — — — — — $4.3m $3.7m $4.9m $12.8m —
Purchase Of Business — — — — — $0 $0 ($60.5m) $0 —
Purchase Of Intangibles — — — — — ($16.6m) ($23.0m) ($20.3m) ($22.0m) —
Purchase Of PPE — — — — — ($130.5m) ($169.0m) ($186.6m) ($198.3m) —
Repurchase Of Capital Stock — — — — — ($3.5m) ($5.9m) ($81.4m) $0 —
Stock Based Compensation — — — — — $32.6m $31.1m $10.5m $10.5m —
Net Cash Provided by (Used in) Operating Activities $84.7m $105.8m $132.8m $181.2m $181.2m $185.5m $303.4m $112.0m $222.1m $222.1m
Cash flows from investing activities:
Payments to Acquire Property, Plant, and Equipment ($71.1m) $64.8m $97.2m $124.9m ($124.9m) $130.5m $169.0m $186.6m ($220.3m) ($198.3m)
Payments to Acquire Businesses, Net of Cash Acquired — — — — — — — $60.5m — —
Business acquisition, net of cash and cash equivalents acquired — — — — — $0 $0 ($60.5m) — $0
Net Other Investing Changes — — — — — ($2.9m) ($2.2m) ($6.6m) ($9.4m) —
Net Cash Provided by (Used in) Investing Activities ($77.8m) ($73.5m) ($108.0m) ($133.8m) ($133.8m) ($149.9m) ($194.2m) ($274.0m) — ($229.7m)
Cash flows from financing activities:
Debt issuance costs paid ($1.1m) ($10.0m) ($690k) — ($701k) $0 ($4.5m) $0 — $0
Issuance Of Debt — — — — — $0 $325.0m $190.0m $70.0m —
Long Term Debt Issuance — — — — — $0 $325.0m $190.0m $70.0m —
Net Issuance Payments Of Debt — — — — — ($76.3m) ($92.0m) $182.4m $13.6m —
Net Long Term Debt Issuance — — — — — ($76.3m) ($92.0m) $182.4m $13.6m —
Net Short Term Debt Issuance — — — — $0 $0 $0 — — —
Short Term Debt Issuance — — — — $0 $0 $25.0m — — —
Long Term Debt Payments — — — — — ($76.3m) ($417.0m) ($7.6m) ($56.4m) —
Repayment Of Debt — — — — — ($76.3m) ($417.0m) ($7.6m) ($56.4m) —
Short Term Debt Payments — — — — $0 $0 ($25.0m) — — —
Net Common Stock Issuance — — — — — ($3.5m) ($5.9m) ($81.4m) $0 —
Payments for Repurchase of Common Stock — — — — $0 $3.5m $5.9m $81.4m — $0
Payments of Ordinary Dividends, Common Stock — $153.6m $3.6m $400k — $105k $15k $0 — —
Repurchase of common stock — — — — $0 ($3.5m) ($5.9m) ($81.4m) — $0
Common Stock Payments — — — — — ($3.5m) ($5.9m) ($81.4m) $0 —
Payments of Dividends — $153.6m $3.6m $434k — $105k $15k $0 — —
Dividends paid ($1.3m) ($153.6m) ($3.6m) — ($434k) ($186k) ($15k) $0 — $0
Cash Dividends Paid — — — — — ($105k) ($15k) $0 $0 —
Common Stock Dividend Paid — — — — — ($105k) ($15k) $0 $0 —
Net Cash Provided by (Used in) Financing Activities ($7.9m) ($17.0m) ($17.8m) $29.8m $29.8m ($72.9m) ($97.0m) $109.9m — $14.3m
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect ($1.1m) $15.3m $7.0m $77.2m — ($37.4m) $12.3m ($52.2m) — $6.8m
Net increase (decrease) in cash and cash equivalents ($1.1m) $15.3m $7.0m — $77.2m $34.8m $12.3m ($52.2m) — $6.8m
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents — $21.1m $28.1m $105.3m — $102.7m $115.0m $62.8m — —
Cash and cash equivalents at beginning of period $5.8m $21.1m $28.1m — $105.3m $140.1m $115.0m $62.8m — $69.6m
Supplemental disclosure of cash flow information:
Change In Cash Supplemental As Reported — — — — — ($37.4m) $12.3m ($52.2m) $6.8m —
Interest Paid, Excluding Capitalized Interest, Operating Activities $45.8m $47.3m $49.4m $20.3m $20.3m $19.1m $22.7m $26.2m $32.8m $32.8m
Income Taxes Paid, Net ($66k) $289k ($65k) $5.2m $5.2m ($1.7m) $7.6m $3.4m $2.3m $2.3m

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.