Garmin reports fourth quarter results

Free cash flow

Management believes that free cash flow is an important liquidity measure because it represents the amount of cash provided by operations that is available for investing and defines it as operating cash flows less capital expenditures for property and equipment. Management believes that excluding purchases of property and equipment provides a better understanding of the underlying trends in the Company’s operations and allows more accurate comparisons of the Company’s results between periods. This metric may also be useful to investors, but should not be considered in isolation as it is not a measure of cash flow available for discretionary expenditures. The most comparable GAAP measure is net cash provided by operating activities.

Garmin Ltd. And Subsidiaries

 

Free Cash Flow

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

13-Weeks Ended

 

 

52-Weeks Ended

 

 

 

December 26,

 

 

December 28,

 

 

December 26,

 

 

December 28,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Net cash provided by operating activities

 

$

435,818

 

 

$

234,379

 

 

$

1,135,267

 

 

$

698,549

 

Less: purchases of property and equipment

 

 

(48,329

)

 

 

(26,562

)

 

 

(185,401

)

 

 

(118,031

)

Free Cash Flow

 

$

387,489

 

 

$

207,817

 

 

$

949,866

 

 

$

580,518

 


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