Company: CRL
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001100682-25-000021
Chunk: 35

Company: CHARLES RIVER LABORATORIES INTERNATIONAL, INC.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 2
Chunk 35
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 presents our net cash used in investing activities:

Three Months EndedMarch 29, 2025March 30, 2024(in thousands)Capital expenditures$(59,324)$(79,144)Investments, net(3,700)(6,365)Proceeds from sale of businesses and assets, net17,441 — Other, net104 (283)Net cash used in investing activities$(45,479)$(85,792)

Investing activities primarily consist of cash used to fund capital expenditures to support the growth of our business, purchases and sales of investments related to our venture capital and strategic equity investment portfolios, and asset and business acquisitions, periodically offset by cash from divestitures.

For the three months ended March 29, 2025, cash used in investing activities was primarily driven by capital expenditures partially offset by proceeds from divestitures of certain site and business assets. Capital expenditures decreased for the three months ended March 29, 2025 as compared to the same period in 2024, as a result of disciplined spend management in light of the global economic environment.

For the three months ended March 30, 2024, cash used in investing activities was primarily driven by capital expenditures to support the growth of the business.

The following table presents our net cash (used in) provided by financing activities:

Three Months EndedMarch 29, 2025March 30, 2024(in thousands)Proceeds from long-term debt and revolving credit facility$416,341 $300,882 Payments on long-term debt, revolving credit facility, and finance lease obligations(149,394)(292,482)Proceeds from exercises of stock options — 21,505 Purchase of treasury stock(353,132)(9,351)Purchase of remaining equity interest of other redeemable noncontrolling interest(19,140)— Other, net— (2,208)Net cash (used in) provided by financing activities$(105,325)$18,346 

Financing activities primarily consist of the proceeds and repayments of debt and certain equity related transactions including treasury stock purchases and employee stock option exercises. 

For the three months ended March 29, 2025, net cash used in financing activities was primarily driven by the following activity:

•Net proceeds of $267.5 million from our Credit Facility

•Treasury stock purchases of $350.0 million associated with our stock repurchase program and $3.1 million due to the netting