Garmin Ltd Cash Flow
Concept
Operating Cash Flow
Net Income
Depreciation & Amortization
Stock based compensation
Other non cash items
Change in working capital
Investing Cash Flow
Capital Expenditures
Financing Cash Flow
Dividends Paid
Payout Ratio
Share Issuance / Repurchase
Debt Issued / Paid
Other Investing Activities
End Cash Position
Changes in Cash
Beginning Cash Position
Free Cash Flow
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1,376M
1,290M
178M
101M
-25M
174M
-94M
195M
-637M
559M
43.37 %
-99M
0M
21M
1,694M
414M
1,280M
1,181M
788M
974M
164M
77M
-7M
-276M
112M
246M
-841M
679M
69.84 %
-201M
0M
-23M
1,280M
-219M
1,499M
542M
1,012M
1,082M
155M
93M
36M
-348M
-146M
310M
-487M
491M
45.45 %
-31M
0M
36M
1,499M
40M
1,459M
703M
1,135M
992M
127M
81M
-13M
-59M
74M
187M
-462M
451M
45.45 %
-26M
0M
15M
1,459M
431M
1,028M
948M
699M
952M
106M
63M
18M
-353M
-31M
120M
-416M
417M
43.89 %
-26M
0M
27M
1,028M
-174M
1,202M
578M
920M
694M
96M
56M
41M
-7M
-120M
160M
-286M
296M
42.62 %
-17M
0M
-17M
1,202M
310M
892M
759M
661M
695M
86M
45M
54M
-128M
48M
152M
-448M
383M
55.16 %
-75M
0M
9M
891M
45M
847M
509M
706M
511M
86M
41M
43M
23M
52M
97M
-562M
481M
94.07 %
-93M
0M
2M
847M
14M
833M
609M
280M
456M
78M
26M
58M
-345M
3M
84M
-500M
378M
82.85 %
-131M
0M
9M
833M
-363M
1,196M
196M
523M
364M
77M
24M
26M
-58M
228M
78M
-600M
360M
98.4 %
-242M
0M
0M
1,196M
17M
1,179M
445M
630M
612M
79M
23M
-24M
-67M
-76M
57M
-407M
352M
57.37 %
-58M
0M
5M
1,179M
-52M
1,231M
573M
685M
542M
90M
29M
52M
2M
-444M
45M
-250M
253M
46.74 %
-19M
0M
-1M
1,231M
-56M
1,287M
640M
822M
521M
95M
40M
30M
179M
-393M
41M
-307M
311M
59.55 %
-22M
0M
3M
1,287M
26M
1,261M
781M
771M
585M
95M
40M
66M
-15M
-26M
36M
-511M
299M
51.19 %
-226M
0M
14M
1,261M
169M
1,092M
735M
1,094M
704M
96M
44M
65M
211M
-491M
57M
-161M
150M
21.14 %
-20M
0M
1M
1,092M
395M
696M
1,038M
862M
733M
78M
39M
22M
-61M
0M
127M
-808M
150M
20.4 %
-672M
0M
14M
696M
-11M
708M
736M
682M
855M
64M
12M
43M
-234M
0M
160M
-136M
163M
19.02 %
-8M
0M
17M
708M
370M
337M
522M
362M
514M
44M
-4M
36M
-194M
0M
96M
-133M
108M
20.85 %
-50M
0M
10M
337M
3M
334M
266M
247M
311M
44M
0M
2M
-119M
0M
27M
-71M
54M
17.48 %
-27M
0M
-91M
334M
84M
250M
220M
209M
206M
35M
0M
-6M
-18M
0M
78M
-51M
54M
26.6 %
-3M
0M
6M
250M
-24M
274M
131M
175M
179M
20M
0M
17M
-37M
0M
33M
-70M
54M
30.49 %
4M
0M
-20M
274M
58M
217M
142M
175M
143M
16M
0M
2M
15M
0M
12M
-10M
0M
0 %
2M
0M
-12M
217M
24M
193M
163M
130M
113M
11M
0M
0M
1M
0M
15M
-22M
0M
0 %
-10M
0M
-14M
193M
-59M
252M
115M
88M
106M
8M
0M
8M
-37M
0M
25M
95M
29M
26.42 %
0M
0M
20M
252M
148M
104M
64M
44M
64M
6M
0M
3M
-29M
0M
32M
10M
8M
12.5 %
0M
0M
18M
104M
24M
80M
12M
Concept
Operating Cash Flow
Net Income
Depreciation & Amortization
Stock based compensation
Other non cash items
Change in working capital
Investing Cash Flow
Capital Expenditures
Financing Cash Flow
Dividends Paid
Payout Ratio
Share Issuance / Repurchase
Debt Issued / Paid
Other Investing Activities
End Cash Position
Changes in Cash
Beginning Cash Position
Free Cash Flow
4Q2023
3Q2023
2Q2023
1Q2023
4Q2022
3Q2022
2Q2022
1Q2022
4Q2021
3Q2021
2Q2021
1Q2021
4Q2020
3Q2020
2Q2020
1Q2020
4Q2019
3Q2019
2Q2019
1Q2019
4Q2018
3Q2018
2Q2018
1Q2018
4Q2017
3Q2017
2Q2017
1Q2017
4Q2016
3Q2016
2Q2016
1Q2016
4Q2015
3Q2015
2Q2015
1Q2015
4Q2014
3Q2014
2Q2014
1Q2014
4Q2013
3Q2013
2Q2013
1Q2013
4Q2012
3Q2012
2Q2012
1Q2012
4Q2011
3Q2011
2Q2011
1Q2011
4Q2010
3Q2010
2Q2010
1Q2010
4Q2009
3Q2009
2Q2009
1Q2009
4Q2008
3Q2008
2Q2008
1Q2008
4Q2007
3Q2007
2Q2007
1Q2007
4Q2006
3Q2006
2Q2006
1Q2006
4Q2005
3Q2005
2Q2005
1Q2005
4Q2004
3Q2004
2Q2004
1Q2004
4Q2003
3Q2003
2Q2003
1Q2003
4Q2002
3Q2002
2Q2002
1Q2002
4Q2001
3Q2001
2Q2001
1Q2001
4Q2000
3Q2000
2Q2000
1Q2000
466M
542M
45M
35M
-35M
129M
-65M
49M
-150M
140M
25.53 %
-19M
0M
9M
1,694M
271M
1,424M
417M
357M
257M
45M
23M
23M
31M
-198M
46M
-149M
140M
54.48 %
-9M
0M
-198M
1,424M
-3M
1,426M
312M
274M
288M
44M
23M
-12M
-16M
-62M
53M
-145M
140M
48.67 %
-27M
0M
-5M
1,426M
64M
1,362M
221M
279M
202M
43M
21M
-1M
29M
39M
47M
-192M
140M
69.52 %
-52M
0M
-52M
1,362M
82M
1,280M
232M
369M
293M
41M
19M
-52M
109M
233M
60M
-363M
280M
95.42 %
-96M
0M
13M
1,280M
197M
1,083M
309M
154M
211M
39M
18M
25M
-104M
131M
51M
-221M
141M
66.97 %
-80M
0M
0M
1,083M
-5M
1,088M
103M
80M
258M
42M
15M
27M
-221M
-186M
75M
-134M
129M
50.38 %
-80M
0M
-4M
1,088M
-330M
1,418M
4M
186M
212M
41M
25M
-6M
-60M
-66M
60M
-123M
129M
61.47 %
-15M
0M
20M
1,418M
-81M
1,499M
125M
169M
286M
41M
24M
12M
-180M
-39M
120M
-142M
129M
45.27 %
-13M
0M
-164M
1,499M
-141M
1,640M
49M
245M
259M
39M
23M
12M
-91M
-114M
42M
-129M
129M
50 %
0M
0M
-114M
1,640M
0M
1,640M
204M
230M
317M
38M
23M
5M
-157M
16M
110M
-99M
117M
37.2 %
0M
0M
18M
1,640M
40M
1,600M
120M
368M
220M
37M
23M
7M
81M
-51M
38M
-116M
117M
53.51 %
-17M
0M
18M
1,600M
141M
1,459M
331M
436M
334M
37M
27M
-14M
60M
-32M
49M
-130M
117M
35.26 %
-13M
0M
0M
1,459M
235M
1,224M
387M
274M
313M
33M
22M
-13M
-94M
-114M
39M
-118M
117M
37.42 %
-1M
0M
-294M
1,224M
-131M
1,355M
235M
199M
184M
29M
16M
0M
-20M
253M
57M
-94M
109M
59.38 %
0M
0M
15M
1,355M
306M
1,049M
142M
226M
161M
28M
16M
15M
-4M
-32M
42M
-120M
109M
67.86 %
-12M
0M
-79M
1,049M
21M
1,028M
184M
234M
361M
29M
16M
-30M
-34M
-31M
27M
-107M
108M
30.16 %
-13M
0M
14M
1,028M
50M
977M
207M
189M
228M
27M
17M
36M
-129M
10M
32M
0M
0M
0 %
0M
0M
-21M
977M
157M
820M
157M
111M
224M
27M
16M
0M
-154M
-7M
31M
-95M
108M
48.72 %
0M
0M
13M
820M
-296M
1,116M
80M
165M
140M
24M
15M
11M
-35M
-2M
31M
-213M
201M
141.89 %
-13M
0M
-33M
1,116M
-86M
1,202M
134M
218M
190M
25M
14M
18M
-48M
-34M
35M
2M
0M
0 %
-10M
0M
-24M
1,202M
145M
1,057M
183M
264M
184M
23M
14M
9M
24M
-3M
30M
-100M
100M
54.64 %
0M
0M
0M
1,057M
110M
947M
233M
224M
190M
25M
14M
10M
-27M
-7M
68M
-88M
100M
53 %
0M
0M
12M
947M
48M
899M
156M
214M
129M
23M
13M
4M
44M
-75M
28M
-101M
96M
75 %
-7M
0M
-5M
899M
8M
892M
186M
198M
139M
23M
12M
19M
-47M
30M
58M
-93M
96M
69.86 %
75M
0M
2M
891M
0M
891M
141M
199M
147M
21M
12M
-3M
5M
-18M
48M
-106M
96M
65.38 %
-11M
0M
0M
891M
32M
860M
151M
143M
171M
21M
12M
-12M
-61M
21M
19M
-122M
96M
56.04 %
-36M
0M
10M
860M
26M
834M
124M
120M
238M
22M
8M
49M
-25M
13M
27M
-127M
96M
40.48 %
-28M
0M
-3M
834M
-13M
847M
94M
213M
137M
24M
12M
1M
32M
19M
50M
-218M
192M
141.67 %
-28M
0M
1M
847M
-66M
913M
164M
213M
125M
21M
10M
22M
36M
24M
15M
-115M
96M
77.27 %
-20M
0M
2M
913M
111M
801M
198M
150M
161M
21M
11M
18M
-52M
-77M
16M
-113M
97M
60 %
-25M
0M
9M
801M
-56M
858M
134M
129M
88M
20M
8M
2M
7M
86M
16M
-116M
97M
110.87 %
-20M
0M
0M
858M
25M
833M
114M
158M
132M
20M
7M
20M
-21M
-68M
28M
-120M
97M
72.86 %
-23M
0M
-3M
833M
-82M
915M
130M
138M
119M
20M
5M
-26M
4M
10M
14M
-148M
97M
80.95 %
-51M
0M
0M
915M
-23M
938M
123M
-97M
138M
19M
7M
13M
-269M
61M
23M
-124M
92M
66.67 %
-41M
0M
9M
938M
-233M
1,171M
-120M
82M
67M
19M
8M
51M
-59M
0M
19M
-108M
92M
137.14 %
-16M
0M
1M
1,171M
-25M
1,196M
63M
145M
210M
21M
5M
-19M
-108M
29M
14M
-96M
92M
44.04 %
0M
0M
-5M
1,196M
42M
1,155M
131M
142M
-147M
18M
6M
19M
195M
6M
26M
-169M
92M
-63.16 %
-79M
0M
2M
1,155M
-80M
1,235M
116M
164M
182M
19M
7M
37M
-78M
174M
22M
-217M
88M
48.39 %
-129M
0M
0M
1,235M
98M
1,137M
143M
71M
119M
18M
6M
-11M
-67M
20M
17M
-118M
88M
73.77 %
-33M
0M
3M
1,137M
-42M
1,179M
55M
150M
164M
18M
7M
-21M
-23M
62M
14M
-123M
88M
54.22 %
-31M
0M
4M
1,179M
110M
1,069M
136M
217M
188M
19M
5M
2M
6M
-150M
13M
-8M
88M
46.88 %
-14M
0M
5M
1,069M
-15M
1,083M
204M
204M
172M
20M
6M
-11M
13M
0M
18M
-102M
88M
51.14 %
-13M
0M
-1M
1,083M
-10M
1,093M
186M
59M
89M
22M
5M
5M
-63M
12M
12M
-174M
176M
200 %
0M
0M
2M
1,093M
-138M
1,231M
47M
175M
129M
28M
3M
22M
17M
-175M
13M
-3M
253M
195.45 %
-12M
0M
-2M
1,231M
-16M
1,247M
162M
165M
140M
12M
8M
7M
-1M
-93M
10M
-86M
88M
62.5 %
0M
0M
1M
1,247M
-21M
1,268M
155M
223M
186M
26M
8M
11M
-5M
-132M
13M
-86M
88M
47.37 %
-6M
0M
0M
1,268M
-18M
1,286M
209M
122M
87M
25M
10M
12M
-9M
-43M
9M
-74M
78M
90.91 %
0M
0M
1M
1,286M
-1M
1,287M
114M
225M
166M
34M
13M
35M
32M
-157M
6M
-159M
156M
94.12 %
-22M
0M
2M
1,287M
-102M
1,389M
219M
187M
150M
22M
10M
-14M
12M
21M
18M
-153M
155M
102.6 %
1M
0M
0M
1,389M
-29M
1,419M
168M
203M
109M
16M
9M
15M
48M
7M
7M
1M
0M
0 %
1M
0M
0M
1,419M
208M
1,211M
196M
208M
95M
22M
9M
-6M
86M
-265M
10M
4M
0M
0 %
3M
0M
1M
1,211M
-50M
1,261M
198M
184M
133M
22M
11M
15M
4M
-147M
5M
3M
0M
0 %
-3M
0M
6M
1,261M
25M
1,236M
179M
204M
280M
21M
10M
-6M
-100M
-4M
9M
-138M
299M
106.99 %
-139M
0M
1M
1,236M
63M
1,173M
195M
182M
135M
30M
9M
8M
-2M
54M
12M
-333M
299M
222.39 %
-37M
0M
-293M
1,173M
-118M
1,291M
169M
200M
37M
22M
10M
49M
84M
72M
9M
-43M
0M
0 %
-47M
0M
1M
1,291M
200M
1,092M
191M
246M
278M
31M
12M
71M
-122M
0M
14M
-165M
150M
53.62 %
-18M
0M
160M
1,092M
80M
1,012M
232M
293M
215M
24M
10M
-9M
53M
0M
16M
2M
0M
0 %
0M
0M
2M
1,012M
53M
959M
277M
256M
162M
21M
10M
-4M
65M
0M
13M
4M
0M
0 %
4M
0M
0M
959M
37M
922M
243M
299M
49M
22M
11M
7M
214M
0M
14M
-2M
0M
0 %
-2M
0M
0M
922M
226M
696M
285M
349M
158M
24M
39M
-1M
108M
0M
12M
-193M
150M
94.87 %
-47M
0M
17M
696M
175M
522M
337M
233M
171M
28M
-4M
23M
3M
0M
34M
-305M
0M
0 %
-306M
0M
1M
522M
-103M
624M
199M
88M
256M
9M
-42M
-36M
-101M
0M
52M
-222M
0M
0 %
-228M
0M
0M
624M
26M
599M
36M
192M
148M
18M
-5M
86M
-71M
0M
29M
-87M
0M
0 %
-90M
0M
2M
599M
-109M
708M
163M
126M
307M
22M
22M
-4M
-165M
0M
28M
-5M
0M
0 %
-8M
0M
2M
708M
4M
704M
98M
134M
194M
12M
14M
7M
-93M
0M
17M
-146M
163M
84.09 %
8M
0M
-154M
704M
36M
668M
116M
253M
214M
13M
3M
13M
13M
0M
100M
10M
0M
0 %
5M
0M
5M
668M
188M
479M
154M
169M
140M
16M
-13M
13M
10M
0M
14M
5M
0M
0 %
3M
0M
2M
479M
142M
337M
155M
113M
180M
9M
0M
31M
-103M
0M
49M
-100M
108M
59.04 %
0M
0M
2M
337M
-14M
352M
64M
117M
123M
8M
-3M
-11M
16M
0M
19M
-49M
0M
0 %
-50M
0M
-50M
352M
-22M
374M
97M
76M
123M
13M
0M
1M
-55M
0M
13M
5M
0M
0 %
-2M
0M
7M
374M
59M
315M
63M
56M
88M
14M
0M
14M
-52M
0M
15M
11M
54M
60 %
11M
0M
-87M
315M
-20M
334M
41M
72M
87M
9M
0M
4M
-39M
0M
7M
-49M
54M
62.5 %
0M
0M
54M
334M
3M
331M
65M
86M
102M
9M
0M
-29M
0M
0M
5M
-13M
0M
0 %
-15M
0M
-41M
331M
31M
300M
81M
47M
74M
16M
0M
9M
-47M
0M
4M
-11M
0M
0 %
-11M
0M
-12M
300M
51M
249M
43M
43M
47M
9M
0M
17M
-33M
0M
12M
1M
0M
0 %
1M
0M
-45M
249M
-1M
250M
31M
30M
48M
9M
0M
-20M
7M
0M
20M
-49M
54M
113.64 %
-3M
0M
60M
250M
-48M
298M
9M
79M
67M
10M
0M
4M
-8M
0M
16M
0M
0M
0 %
0M
0M
-24M
298M
55M
243M
63M
48M
56M
10M
0M
-2M
-17M
0M
24M
-3M
0M
0 %
-3M
0M
-3M
243M
-40M
282M
24M
52M
35M
5M
0M
12M
0M
0M
18M
1M
0M
0 %
1M
0M
-45M
282M
8M
274M
34M
49M
55M
5M
0M
6M
-15M
0M
15M
-52M
54M
100 %
3M
0M
-54M
274M
30M
245M
34M
38M
35M
5M
0M
10M
-11M
0M
10M
0M
0M
0 %
0M
0M
-60M
245M
-22M
266M
28M
46M
47M
5M
0M
0M
-6M
0M
3M
-19M
0M
0 %
1M
0M
-20M
266M
15M
251M
43M
42M
41M
5M
0M
1M
-5M
0M
5M
1M
0M
0 %
1M
0M
-9M
251M
34M
217M
38M
46M
45M
6M
0M
2M
-7M
0M
6M
2M
0M
0 %
2M
0M
0M
217M
22M
194M
40M
51M
38M
3M
0M
-1M
10M
0M
1M
0M
0M
0 %
0M
0M
0M
194M
48M
147M
50M
30M
32M
3M
0M
-1M
-4M
0M
2M
-9M
0M
0 %
0M
0M
-9M
147M
-79M
226M
29M
48M
27M
3M
0M
2M
17M
0M
4M
-3M
0M
0 %
-10M
0M
-3M
226M
33M
193M
45M
34M
28M
4M
0M
2M
-5M
0M
4M
-11M
0M
0 %
-10M
0M
-2M
193M
-120M
313M
30M
48M
25M
2M
0M
2M
19M
0M
2M
-3M
0M
0 %
0M
0M
-3M
313M
34M
279M
46M
41M
37M
3M
0M
-4M
7M
0M
4M
-6M
0M
0 %
0M
0M
-6M
279M
26M
253M
37M
7M
24M
2M
0M
0M
-19M
0M
5M
-2M
0M
0 %
0M
0M
-2M
253M
1M
252M
3M
88M
28M
0M
0M
0M
0M
0M
25M
95M
29M
100 %
0M
0M
0M
252M
0M
0M
0M
62M
28M
0M
0M
0M
0M
0M
16M
0M
29M
100 %
0M
0M
0M
0M
0M
0M
0M
0M
29M
0M
0M
0M
0M
0M
0M
0M
0M
0 %
0M
0M
0M
0M
0M
0M
0M
0M
21M
0M
0M
0M
0M
0M
0M
0M
0M
0 %
0M
0M
0M
0M
0M
0M
0M