Company: CRL
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001100682-25-000011
Chunk: 118

Company: CHARLES RIVER LABORATORIES INTERNATIONAL, INC.
Filing Date: 2025-02-19
Form: 10-K
Item: Item 7
Chunk 118
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 of remaining equity interest of other redeemable noncontrolling interest(12,000)(4,784)Payment of contingent considerations— (2,711)Other, net(31,442)(4,145)Net cash used in financing activities$(550,927)$(85,521)

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 fiscal year 2024, net cash used in financing activities was primarily driven by the following activity:

•Net repayments of $417.1 million towards our Credit Facility

•Treasury stock purchases of $100.7 million associated with our stock repurchase program and $18.5 million due to the netting of common stock upon vesting of stock-based awards in order to satisfy individual statutory tax withholding requirements

•Net proceeds from exercises of employee stock options of $23.9 million

•Net dividend payments to noncontrolling interest holders of $14.5 million

52

CHARLES RIVER LABORATORIES INTERNATIONAL, INC.

For fiscal year 2023, net cash used in financing activities was primarily driven by the following activity:

•Net repayments of $70.9 million towards our Credit Facility. 

•Treasury stock purchases of $24.2 million made due to the netting of common stock upon vesting of stock-based awards in order to satisfy individual statutory tax withholding requirements

•Initial payment to purchase the remaining 8% interest in our Vital River subsidiary of $4.8 million

•Dividends paid to noncontrolling interests $4.0 million

•Contingent consideration payments of $2.7 million

•Net proceeds from exercises of employee stock options of $25.6 million

Financing and Market Risk

We are exposed to market risk from changes in interest rates and currency exchange rates, which could affect our future results of operations and financial condition. We manage our exposure to these risks through our regular operating and financing activities.

Amounts outstanding under our revolving credit facility and our Senior Notes were as follows:

December 28, 2024December 30, 2023(in thousands)Revolving credit facility$714,948 $1,129,243 4.25% Senior Notes due 2028500,000 500,000 3.75% Senior Notes due 2029500,000 500,000 4.0% Senior Notes due