Company: CRL
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001100682-25-000011
Chunk: 117

Company: CHARLES RIVER LABORATORIES INTERNATIONAL, INC.
Filing Date: 2025-02-19
Form: 10-K
Item: Item 7
Chunk 117
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 associated with transactions and when they are recognized in our results of operations. 

During fiscal year 2024, our cash flows from operations was $734.6 million compared with $683.9 million for fiscal year 2023. The increase in net cash provided by operating activities was primarily due to favorable performance across our revenue related accounts, including collections on trade receivables, deferred revenue, and customer deposits; benefiting cash provided by operations by $46.7 million, lower purchases of inventory supporting our Safety Assessment business, benefiting our cash provided by operations by $16.8 million; partially offset by $27.6 million related to accrued compensation, and timing of payments to our suppliers and vendors reducing our cash provided by operations by $14.3 million. 

The following table presents our net cash used in investing activities:

Fiscal Year20242023(in thousands)Acquisitions of businesses and assets, net of cash acquired$(5,479)$(194,785)Capital expenditures(232,967)(318,528)Investments, net(11,189)(47,548)Other, net4,549 (2,294)Net cash used in investing activities$(245,086)$(563,155)

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 and divestitures.

During fiscal year 2024, cash used in investing activities was primarily driven by capital expenditures, an immaterial asset acquisition, and net purchases and sales in investments related to certain venture capital and strategic equity investments. Capital expenditures declined for the fiscal year 2024 compared to 2023, primarily as a result of disciplined spend management in light of the global economic and demand environment. Cash used in investing activities in fiscal year 2023 primarily related to the acquisitions of Noveprim and SAMDI, capital expenditures to support the growth of the business, and investments in certain venture capital and strategic equity investments.

The following table presents our net cash used in financing activities:

Fiscal Year20242023(in thousands)Proceeds from long-term debt and revolving credit facility$1,081,581 $776,353 Proceeds from exercises of stock options23,878 25,597 Payments on long-term debt, revolving credit facility, and finance lease obligations(1,493,769)(851,676)Purchase of treasury stock(119,175)(24,155)Purchase