XML 18 R6.htm IDEA: XBRL DOCUMENT v3.24.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS UNAUDITED - USD ($)
$ in Thousands
 9 Months Ended
Sep. 28, 2024
Sep. 30, 2023
Operating Activities:    
Net income (loss) $ (95,087) $ (128,279)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation, amortization and accretion 12,241 14,487
Non-cash lease expense 49,158 56,515
Stock-based compensation 2,178 4,580
Decrease in allowance for returns and markdowns (6,932) (231)
Net gain on disposal of assets (4,182) (3,258)
Property, plant and equipment and other long-lived asset impairment losses 1,935 838
Non-cash restructuring charges 501 5,048
Bad debt expense 5,518 2,986
Other non-cash items 2,497 1,385
Changes in operating assets and liabilities:    
Accounts receivable 8,248 11,228
Inventories 26,602 45,879
Prepaid expenses and other current assets 79,620 16,490
Accounts payable 13,279 (31,124)
Accrued expenses (17,773) (23,732)
Income taxes (6,162) (15,535)
Operating lease liabilities (55,470) (65,239)
Net cash provided by (used in) operating activities 16,171 (107,962)
Investing Activities:    
Additions to property, plant and equipment (4,724) (7,172)
Decrease (increase) in intangible and other assets 1,048 (1,247)
Proceeds from the sale of property, plant and equipment 7,822 23
Net cash provided by (used in) investing activities 4,146 (8,396)
Financing Activities:    
Acquisition of common stock (111) (529)
Debt borrowings 69,708 162,615
Debt payments (102,981) (124,013)
Payment for shares of Fossil Accessories South Africa Pty. Ltd. (422) (2,316)
Net cash (used in) provided by financing activities (33,806) 35,757
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 2,643 (2,751)
Net decrease in cash, cash equivalents, and restricted cash (10,846) (83,352)
Cash, cash equivalents, and restricted cash:    
Beginning of period 121,583 204,075
End of period $ 110,737 $ 120,723