CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Aug. 02, 2025	Aug. 03, 2024
Cash flows from operating activities:
Net income (loss)	$ 2,311	$ (71,306)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	98,649	99,305
Amortization of debt discounts and issuance costs	2,499	2,435
Provision for deferred taxes	1,113	(27,782)
Equity-based compensation	18,209	29,348
Impairments, write-offs and losses on sale of fixed and other assets	522	7,069
Income from equity method investees	(8,694)	(9,077)
Amounts reclassified out of accumulated other comprehensive loss	(413)	(2,274)
Non-cash operating lease costs	205,005	207,605
Other non-operating loss	0	2,665
Changes in assets and liabilities:
Receivables	5,783	(2,083)
Merchandise inventories	44,823	11,769
Prepaid expenses and other assets	(9,487)	(7,166)
Accounts payable and book overdrafts	(69,691)	(9,644)
Accrued salaries and employee benefits	(26,729)	34,591
Accrued expenses and other liabilities	14,508	3,015
Operating lease liabilities	(206,414)	(209,738)
Other long-term liabilities	(1,556)	2,224
Net cash provided by operating activities	70,438	60,956
Cash flows from investing activities:
Cash paid for fixed assets	(60,516)	(60,029)
Cash paid for acquisitions, net of cash acquired	0	(259)
Proceeds from investment	0	998
Proceeds from sale of assets	2,425	1,019
Cash received from partial surrender of officers' life insurance	0	206
Net cash used in investing activities	(58,091)	(58,065)
Cash flows from financing activities:
Borrowings under long-term debt agreements	0	201,000
Repayments of long-term debt	0	(201,000)
Debt refinancing costs	0	(3,028)
Payments for finance lease liabilities	(3,252)	(3,528)
Proceeds from employee stock purchase plan and stock option exercises	1,998	1,630
Tax withholdings on stock-based awards	(3,026)	(3,468)
Proceeds from issuance of common stock	0	2,500
Net cash used in financing activities	(4,280)	(5,894)
Net increase (decrease) in cash, cash equivalents and restricted cash	8,067	(3,003)
Cash, cash equivalents and restricted cash at beginning of period	181,665	136,649
Cash, cash equivalents and restricted cash at end of period	189,732	133,646
Supplemental cash flow disclosures:
Interest paid, net	62,441	69,399
Income taxes paid	3,022	15,581
Supplemental non-cash investing and financing activities disclosure:
Accounts payable and accrued expenses for capital expenditures	$ 13,415	$ 15,684

Petco Health & Wellness Company, Inc. 10-Q