XML 18 R6.htm IDEA: XBRL DOCUMENT v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 9 Months Ended
Oct. 03, 2020
Sep. 28, 2019
Operating Activities:    
Net Income (loss) $ (92,181) $ (43,309)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation, amortization and accretion 33,123 41,854
Non-cash lease expense 83,565 90,572
Stock-based compensation 9,152 13,894
Decrease in allowance for returns and markdowns (40,426) (8,801)
Gain on disposal of assets (1,456) (2,857)
Property, plant and equipment and other long-lived asset impairment losses 24,890 3,957
Trade name impairment losses 2,464 16,613
Non-cash restructuring charges 1,921 4,621
Bad debt expense 6,956 1,476
Loss on extinguishment of debt 0 3,044
Other non-cash items 3,982 574
Gain on asset divestitures 0 (23,134)
Changes in operating assets and liabilities:    
Accounts receivable 101,934 79,642
Inventories 94,389 (201,993)
Prepaid expenses and other current assets (17,120) (833)
Accounts payable 40,767 20,576
Accrued expenses 7,540 (48,754)
Income taxes (66,919) 5,529
Operating lease liabilities (96,722) (90,904)
Net cash provided by (used in) operating activities 95,859 (138,233)
Investing Activities:    
Additions to property, plant and equipment (7,097) (14,054)
Increase in intangible and other assets (2,149) (2,542)
Proceeds from the sale of property, plant and equipment 76 1,255
Proceeds from asset divestitures 0 41,570
Net cash (used in) provided by investing activities (9,170) 26,229
Financing Activities:    
Acquisition of common stock for employee tax withholdings (712) (3,976)
Distribution of noncontrolling interest earnings 0 (4,423)
Debt borrowings 315,224 386,880
Debt payments (278,845) (512,144)
Payment for shares of Fossil Accessories South Africa Pty. Ltd. 0 (1,045)
Debt issuance costs and other (10,000) (7,444)
Net cash provided by (used in) financing activities 25,667 (142,152)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 10,981 (1,674)
Net increase (decrease) in cash, cash equivalents, and restricted cash 123,337 (255,830)
Cash, cash equivalents, and restricted cash:    
Beginning of period 207,749 410,883
End of period $ 331,086 $ 155,053