Company: CHEF
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001517175-25-000008
Chunk: 13

Company: Chefs' Warehouse, Inc.
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 1
Chunk 13
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ortization of intangible assets6,094 6,171 Provision for allowance for credit losses2,702 4,361 Provision for deferred income taxes205 334 Loss on debt extinguishment— 289 Stock compensation4,763 4,199 Change in fair value of contingent earn-out liabilities— (613)Non-cash interest and other operating activities1,316 1,578 Changes in assets and liabilities, net of acquisitions:  Accounts receivable27,826 16,411 Inventories(774)13,148 Prepaid expenses and other current assets4,115 (454)Accounts payable, accrued liabilities and accrued compensation(19,591)(22,914)Other assets and liabilities378 (2,775)Net cash provided by operating activities49,566 30,900 Cash flows from investing activities:  Capital expenditures(12,344)(17,066)Cash paid for acquisitions, net of cash acquired— (315)Net cash used in investing activities(12,344)(17,381)Cash flows from financing activities:  Payment of debt and other financing obligations(750)(6,750)Payment of finance leases(3,253)(1,125)Common stock repurchases— (5,004)Surrender of shares to pay withholding taxes(11,409)(7,073)Cash paid for contingent earn-out liability— (1,300)Payments under asset-based loan facility (20,000)— Net cash used in financing activities(35,412)(21,252)Effect of foreign currency on cash and cash equivalents65 121 Net change in cash and cash equivalents1,875 (7,612)Cash and cash equivalents-beginning of period114,655 49,878 Cash and cash equivalents-end of period$116,530 $42,266 

See accompanying notes to the condensed consolidated financial statements.

7

THE CHEFS’ WAREHOUSE, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

(Amounts in thousands, except share and per share amounts)

Note 1 - Operations and Basis of Presentation

 Description of Business and Basis of Presentation The Chefs’ Warehouse, Inc. (the “Company”), and its wholly-owned subsidiaries, is a distributor of specialty food and center-of-the-plate products in the United States, the Middle East and Canada. The Company