Company: CHEF
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001517175-25-000002
Chunk: 95

Company: Chefs' Warehouse, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 8
Chunk 95
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 activities:   Payment of debt and other financing obligations(22,995)(29,000)(327,741)Payment of finance leases(7,057)(4,327)(3,332)Proceeds from debt issuance— — 587,500 Payment of deferred financing fees— (1,739)(19,039)Common stock repurchases(17,393)— — Proceeds from exercise of stock options175 55 69 Surrender of shares to pay withholding taxes(7,412)(2,134)(2,674)Cash paid for contingent earn-out liabilities(3,800)(11,625)(3,788)Borrowings under asset-based loan and revolving credit facilities46,430 60,000 42,220 Payments under asset-based loan and revolving credit facilities(26,430)(2,220)(20,000)Net cash (used in) provided by financing activities(38,482)9,010 253,215 Effect of foreign currency on cash and cash equivalents19 (260)(681)Net change in cash and cash equivalents64,777 (108,922)43,645 Cash and cash equivalents at beginning of year49,878 158,800 115,155 Cash and cash equivalents at end of year$114,655 $49,878 $158,800 

See accompanying notes to the consolidated financial statements.

50

THE CHEFS’ WAREHOUSE, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

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

Note 1 - Operations and Basis of Presentation

 Description of Business and Basis of PresentationThe 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 is focused on serving the specific needs of chefs who own and/or operate restaurants, country clubs, hotels, caterers, culinary schools, bakeries, patisseries, chocolateries, cruise lines, casinos and specialty food stores. The Company’s quarterly periods end on the thirteenth Friday of each quarter. Every six to seven years, the Company will add a fourteenth week to its fourth quarter to more closely align its year end to the calendar year. The consolidated statement of operations for the fiscal year ended December 30, 2022 contained a 53rd week, while