GARMIN LTD (GRMN) FY2024 YTD Q3 Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2023-12-31 to 2024-09-28

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GARMIN LTD cash flow reconciliation, Dec 31, 2023 through Sep 28, 2024One connected Sankey reconciles operating, investing and financing net cash flows through a shared cash pool, from beginning cash to ending cash. Ribbons flow left to right on one dollar scale. Activity totals are dark gray; beginning and ending cash are blue. Cash basis for beginning and ending balances and net cash change: Cash, cash equivalents, and restricted cash. Intermediate calculation bars are lighter gray. Net income is green for profit and red for loss. Identified asset purchases, sales and maturities are blue in either cash direction. Orange marks positive customer-advance and deferred-revenue changes that add to operating cash in the reconciliation. These are net changes, not gross customer receipts. Negative changes are neutral reconciliation adjustments; they do not by themselves identify cash payments. Purple identifies capital transactions such as borrowing, repayments, share issuance and dividends. Free cash flow is a separate comparison, not an added cash flow. Read chart description and values below for full signed amounts, including zero items.Net income → Net cash from operating activities: $948,581,000.00Net income → Operating adjustments reconciliation: $27,122,000.00Accounts payable → Operating adjustments reconciliation: $124,315,000.00Depreciation → Operating adjustments reconciliation: $102,343,000.00Stock compensation expense → Operating adjustments reconciliation: $101,039,000.00Amortization → Operating adjustments reconciliation: $30,849,000.00Income Taxes → Operating adjustments reconciliation: $13,737,000.00Deferred revenue → Operating adjustments reconciliation: $5,885,000.00Realized loss on marketable securities → Operating adjustments reconciliation: $29,000.00Operating adjustments reconciliation → Inventories: $163,865,000.00Operating adjustments reconciliation → Accounts receivable, net of allowance for doubtful accounts: $103,567,000.00Operating adjustments reconciliation → Deferred income taxes: $53,966,000.00Operating adjustments reconciliation → Other current and non-current assets: $47,413,000.00Operating adjustments reconciliation → Unrealized foreign currency (gains) losses: $25,486,000.00Operating adjustments reconciliation → Other current and non-current liabilities: $6,987,000.00Operating adjustments reconciliation → Deferred costs: $3,987,000.00Operating adjustments reconciliation → Gain on sale or disposal of property and equipment: $48,000.00Redemption of marketable securities → investing reconciliation: $277,334,000.00Net cash from (payments for) acquisitions → investing reconciliation: $5,011,000.00investing reconciliation → Purchase of marketable securities: $363,783,000.00investing reconciliation → Purchases of property and equipment: $108,869,000.00investing reconciliation → Other investing activities, net: $458,000.00Net cash used in financing activities → financing reconciliation: $449,434,000.00Proceeds from issuance of treasury shares related to equity awards → financing reconciliation: $24,530,000.00financing reconciliation → Dividends: $428,373,000.00financing reconciliation → Purchase of treasury stock under share repurchase plan: $29,278,000.00financing reconciliation → Purchase of treasury stock related to equity awards: $16,313,000.00Net cash used in investing activities → investing reconciliation: $190,765,000.00Exchange-rate effect → Cash sources and uses: $7,536,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $1,694,156,000.00Net cash from operating activities → Cash sources and uses: $948,581,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $2,010,074,000.00Cash sources and uses → Net cash used in investing activities: $190,765,000.00Cash sources and uses → Net cash used in financing activities: $449,434,000.00Unrealized foreign currency (gains) losses: -$25,486,000.00Unrealized FX gain & loss−$25.49 MAmortization: $30,849,000.00Amortization expense+$30.85 MAccounts payable: $124,315,000.00Accounts payable+$124.32 MAccounts receivable, net of allowance for doubtful accounts: -$103,567,000.00Accounts receivable−$103.57 MGain on sale or disposal of property and equipment: -$48,000.00PP&E disposal gain & loss−$48.00 KDeferred income taxes: -$53,966,000.00Deferred taxes & credits−$53.97 MDeferred costs: -$3,987,000.00Deferred costs−$3.99 MInventories: -$163,865,000.00Inventories−$163.87 MOther current and non-current liabilities: -$6,987,000.00Other operating liabilities−$6.99 MIncome Taxes: $13,737,000.00Income tax balances+$13.74 MDepreciation: $102,343,000.00Depreciation expense+$102.34 MRealized loss on marketable securities: $29,000.00Investment sale gain & loss+$29.00 KDeferred revenue: $5,885,000.00Deferred revenue+$5.89 MOther current and non-current assets: -$47,413,000.00Other operating assets−$47.41 MNet income: $975,703,000.00Net income+$975.70 MStock compensation expense: $101,039,000.00Stock-based compensation+$101.04 MNet cash from operating activities: $948,581,000.00Operating cash+$948.58 MOperating adjustments reconciliation: $405,319,000.00Purchase of treasury stock under share repurchase plan: -$29,278,000.00Buyback treasury purchases−$29.28 MProceeds from issuance of treasury shares related to equity awards: $24,530,000.00Treasury stock sold+$24.53 MPurchase of treasury stock related to equity awards: -$16,313,000.00Equity award treasury purchases−$16.31 MDividends: -$428,373,000.00Dividends paid−$428.37 MNet cash used in financing activities: -$449,434,000.00. Cash required to fund net payments.Financing cash−$449.43 Mfinancing reconciliation: $473,964,000.00Purchase of marketable securities: -$363,783,000.00AFS securities purchases−$363.78 MNet cash from (payments for) acquisitions: $5,011,000.00Net cash from (payments for) acquisitions+$5.01 MOther investing activities, net: -$458,000.00Other investing activities, net−$458.00 KPurchases of property and equipment: -$108,869,000.00PP&E purchases−$108.87 MRedemption of marketable securities: $277,334,000.00AFS securities proceeds+$277.33 MNet cash used in investing activities: -$190,765,000.00. Cash required to fund net payments.Investing cash−$190.77 Minvesting reconciliation: $473,110,000.00Cash sources and uses: $2,650,273,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $1,694,156,000.00Beginning cash$1.69 BEnding cash: Cash, cash equivalents, and restricted cash: $2,010,074,000.00Ending cash$2.01 BExchange-rate effect: $7,536,000.00FX effect+$7.54 MCASH RECONCILIATIONOperatingflowsInvestingflowsFinancingflowsFree cash flow$839.71 MOperating cash − cash spent on PP&ECash flow / Net income0.97×Operating cash flow ÷ net incomeNet cash change+$315.92 MEnding cash − beginning cash
Chart details

GARMIN LTD cash flow reconciliation, Dec 31, 2023 through Sep 28, 2024

Cash flows for Dec 31, 2023 through Sep 28, 2024. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Dec 30, 2023. Ending cash: Sep 28, 2024. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Dec 30, 2023
1,694,156,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
948,581,000 US dollars. Net cash provided.
Unrealized foreign currency (gains) losses
negative 25,486,000 US dollars
Amortization
30,849,000 US dollars
Accounts payable
124,315,000 US dollars
Accounts receivable, net of allowance for doubtful accounts
negative 103,567,000 US dollars
Gain on sale or disposal of property and equipment
negative 48,000 US dollars
Deferred income taxes
negative 53,966,000 US dollars
Deferred costs
negative 3,987,000 US dollars
Inventories
negative 163,865,000 US dollars
Other current and non-current liabilities
negative 6,987,000 US dollars
Income Taxes
13,737,000 US dollars
Depreciation
102,343,000 US dollars
Realized loss on marketable securities
29,000 US dollars
Deferred revenue
5,885,000 US dollars
Other current and non-current assets
negative 47,413,000 US dollars
Net income
975,703,000 US dollars
Stock compensation expense
101,039,000 US dollars
Investing activities
negative 190,765,000 US dollars. Net cash used.
Purchase of marketable securities
negative 363,783,000 US dollars
Net cash from (payments for) acquisitions
5,011,000 US dollars
Other investing activities, net
negative 458,000 US dollars
Purchases of property and equipment
negative 108,869,000 US dollars
Redemption of marketable securities
277,334,000 US dollars
Financing activities
negative 449,434,000 US dollars. Net cash used.
Purchase of treasury stock under share repurchase plan
negative 29,278,000 US dollars
Proceeds from issuance of treasury shares related to equity awards
24,530,000 US dollars
Purchase of treasury stock related to equity awards
negative 16,313,000 US dollars
Dividends
negative 428,373,000 US dollars
Operating adjustment reconciliation
405,319,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
financing gross reconciliation
473,964,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
investing gross reconciliation
473,110,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
Exchange-rate effect
7,536,000 US dollars
Ending cash on Sep 28, 2024
2,010,074,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
2,650,273,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
315,918,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
0.97×. Operating cash flow divided by reconciliation net income for the same period. Black from 0.90× through 1.10×; green above 1.10×; red below 0.90×. Color uses the unrounded ratio.
Operating cash flow
948,581,000 US dollars. Operating cash flow used in the free cash flow calculation.
Cash purchases of property, plant and equipment
108,869,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
839,712,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.

Chart connections

  • Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
  • Financing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Investing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Operating reconciliation adjustments are not all independent cash receipts.
  • Net income exceeds operating cash. The diagram allocates $948.58M of net income directly to operating cash and $27.12M to the adjustment junction, where it combines with other additions to reconcile deductions. This is an accounting presentation, not a tracing of cash receipts.
  • Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
  • The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
  • Operating cash flow minus cash purchases of property, plant and equipment equals free cash flow: 948,581,000 US dollars minus 108,869,000 US dollars equals 839,712,000 US dollars.
GARMIN LTD (GRMN) FY2024 YTD Q3 Statement of Cash Flows Sankey chart
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