Company: CRL
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001100682-25-000021
Chunk: 34

Company: CHARLES RIVER LABORATORIES INTERNATIONAL, INC.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 2
Chunk 34
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 capital investment, restructuring initiatives, and pension obligations. Our principal sources of liquidity have been our cash flows from operations supplemented by long-term borrowings. Based on our current business plan, we believe that our existing funds, when combined with cash generated from operations and our access to financing resources, are sufficient to fund our operations for the foreseeable future.

The following table presents our cash, cash equivalents and short-term investments: 

March 29, 2025December 28, 2024(in thousands)Cash and cash equivalents:Held in U.S. entities$2,382 $4,219 Held in non-U.S. entities226,974 190,387 Total cash and cash equivalents229,356 194,606 Short-term investments:Held in non-U.S. entities63 62 Total cash, cash equivalents and short-term investments$229,419 $194,668 

The following table presents our net cash provided by operating activities:

Three Months EndedMarch 29, 2025March 30, 2024(in thousands)Net income$25,878 $74,482 Adjustments to reconcile net income to net cash provided by operating activities144,532 103,498 Changes in assets and liabilities1,287 (48,092)Net cash provided by operating activities$171,697 $129,888 

Net cash provided by cash flows from operating activities represents the cash receipts and disbursements related to all of our activities other than investing and financing activities. Operating cash flow is derived by adjusting our net income for (1) non-cash operating items such as depreciation and amortization, stock-based compensation, goodwill impairment, debt financing costs, deferred income taxes, long-lived asset impairment changes, gains and/or losses on venture capital and strategic equity investments, gains and/or losses on divestitures, changes in fair value of contingent consideration, as well as (2) changes in operating assets and liabilities, which reflect timing differences between the receipt and payment of cash associated with transactions and when they are recognized in our results of operations. 

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CHARLES RIVER LABORATORIES INTERNATIONAL, INC.

For the three months ended March 29, 2025, compared to corresponding period in 2024, the increase in net cash provided by operating activities was primarily driven by lower payments of variable compensation and favorable timing of payments to our suppliers and vendors, partially offset by higher purchases of inventory to support our DSA reportable segment.

The following table