45
THE CATO CORPORATION
CONDENSED CONSOLIDATED STATEMENTS
OF CASH FLOWS
(UNAUDITED)
ThreeNine Months Ended
April 29,October 28, 2023
April 30,October 29, 2022
(Dollars in thousands)
Operating Activities:
Net income (loss)
$
4,428(523)
$
9,7483,020
Adjustments to reconcile net income (loss) to net cash provided (used)
2,3577,371
2,7438,418
Provision for customer credit losses
98397
72217
Purchase premium and premium amortization of investments
(18)(226)
388606
9583,189
6241,517
(832)(1,981)
-
(Gain) Loss on disposal of property and equipment
(33)13
16106
Changes in operating assets and liabilities which provided
(1,793)(1,815)
(4,382)29,916
5,24313,184
(2,669)8,189
(618)(1,716)
4741,704
Operating lease right-of-use assets and liabilities
(532)(1,499)
(590)(1,895)
2,0661,375
1,1421,918
Accounts payable, accrued expenses and other liabilities
(1,429)(6,099)
(8,331)(34,418)
Net cash provided (used) by operating activities
9,89511,670
(765)19,298
Investing Activities:
Expenditures for property and equipment
(6,170)(10,271)
(4,440)(14,382)
Purchase of short-term investments
(5,914)(44,595)
(1,529)(53,765)
Sales of short-term investments
27,42160,999
25,56668,348
Net cash provided (used) by investing activities
15,3376,133
19,597201
Financing Activities:
Dividends paid
(3,455)(10,457)
(3,638)(10,870)
Repurchase of common stock
(2,267)(2,563)
(9,162)(11,561)
Proceeds from employee stock purchase plan
166357
91279
Net cash provided (used) byused in financing activities
(5,556)(12,663)
(12,709)(22,152)
Net increase (decrease) in cash, cash equivalents, and restricted cash
19,6765,140
6,123(2,653)
Cash, cash equivalents, and restricted cash at beginning of period
23,792
23,678
Cash, cash equivalents, and restricted cash at end of period
$
43,46828,932
$
29,80121,025
Non-cash activity:
Accrued other assets and property and equipment
$
6441,100
$
2,9712,311
See notes to condensed consolidated financial statements (unaudited).