Company: CRL
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001100682-25-000011
Chunk: 116

Company: CHARLES RIVER LABORATORIES INTERNATIONAL, INC.
Filing Date: 2025-02-19
Form: 10-K
Item: Item 7
Chunk 116
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 to the impact of the non-deductible goodwill impairment of the Biologic Solutions reporting unit, as well as the non-taxable gain on Noveprim of $98.5 million in fiscal year 2023.

Liquidity and Capital Resources

Liquidity and Cash Flows

We currently require cash to fund our working capital needs, capital expansion, acquisitions, debt payments, lease, venture capital and strategic equity investments, and pension obligations. Our principal sources of liquidity have been our cash flows from operations and recent divestitures, 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 and cash equivalents and short-term investments:

December 28, 2024December 30, 2023(in thousands)Cash and cash equivalents:Held in U.S. entities$4,219 $2,234 Held in non-U.S. entities190,387 274,537 Total cash and cash equivalents194,606 276,771 Short-term investments:Held in non-U.S. entities62 68 Total cash, cash equivalents and short-term investments$194,668 $276,839 

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

Fiscal Year20242023(in thousands)Net income$25,291 $480,370 Adjustments to reconcile net income to net cash provided by operating activities739,615 305,908 Changes in assets and liabilities(30,329)(102,380)Net cash provided by operating activities$734,577 $683,898 

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 items including, but not limited to (1) non-cash operating items such as depreciation and amortization, stock-based compensation, 

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CHARLES RIVER LABORATORIES INTERNATIONAL, INC.

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