Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities      
Net earnings $ 815,632 $ 146,227 $ 427,252
Adjustments to reconcile net earnings to net cash provided by operating activities      
Depreciation and amortization 139,577 142,810 111,515
Provision for bad debts and returns 62,771 50,696 52,456
Stock compensation 60,108 65,240 41,076
Deferred income taxes (387,250) (19,568) (7,568)
Net settlement gain   (13,877)  
Net foreign currency adjustments 2,154 (13,854) 2,114
Other items, net     334
Changes in operating assets and liabilities      
Receivables (154,248) 13,259 (118,390)
Inventory (458,002) 78,632 (171,903)
Other assets (110,464) (153,092) (69,234)
Accounts payable 135,140 (37,714) 154,464
Other liabilities 106,734 72,694 4,436
Net cash provided by operating activities 212,152 331,453 426,552
Cash flows from investing activities      
Capital expenditures (309,674) (309,916) (236,111)
Acquisitions, net of cash acquired     (100,658)
Proceeds from sale of property, plant and equipment     5,547
Purchases of investments (215,164) (166,614) (189,624)
Proceeds from sales and maturities of investments 180,172 164,062 176,773
Net cash used in investing activities (344,666) (312,468) (344,073)
Cash flows from financing activities      
Net proceeds from the employee stock purchase plan 7,276 5,916 6,173
Repayments on long-term borrowings (487,441) (86,357) (4,108)
Proceeds from long-term borrowings 96,187 702,998 33,296
Net repayments on short-term borrowings (2,102) (2,492) (1,433)
Payments for employee taxes related to stock compensation (3,084) (5,658) (14,313)
Repurchases of common stock     (30,019)
Purchase of noncontrolling interest (9,928)   (82,894)
Contributions from noncontrolling interests 6,731    
Distributions to noncontrolling interests (41,557) (81,105) (38,675)
Net cash provided by (used in) financing activities (433,918) 533,302 (131,973)
Effect of exchange rates on cash and cash equivalents (8,111) (6,337) 2,133
Net change in cash and cash equivalents (574,543) 545,950 (47,361)
Cash and cash equivalents at beginning of the period 1,370,826 824,876 872,237
Cash and cash equivalents at end of the period 796,283 1,370,826 824,876
Cash paid during the period for:      
Interest 14,579 15,987 7,140
Income taxes, net 125,082 55,825 88,753
Non-cash transactions:      
Land and other assets contribution from noncontrolling interests     36,934
Note payable contribution from noncontrolling interest     2,150
Purchase price adjustment for Skechers Mexico   49,045  
ROU assets exchanged for lease liabilities $ 356,855 $ 318,713 $ 122,078