Abercrombie & Fitch 2002 Annual Report Download - page 20

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Abercrombie &Fitch
(Thousands)2002 2001 2000
Operating Activities
Net Income $194,935 $168,672 $158,133
Impact of Other Operating Activities on Cash Flows
Depreciation and Amortization 56,925 41,155 30,731
Noncash Charge for Deferred Compensation 2,295 3,936 4,340
Change in Assets and Liabilities
Inventories (35,342) 12,121 (45,735)
Accounts Payable and Accrued Expenses 41,766 5,272 21,626
Income Taxes 38,235 13,787 (8,420)
Other Assets and Liabilities (5,668) (11,741) (9,486)
Net Cash Provided by Operating Activities 293,146 233,202 151,189
Investing Activities
Capital Expenditures (92,976) (126,515) (153,481)
Proceeds from Maturities of Marketable Securities 61,220 – 45,601
Purchase of Marketable Securities –(71,220) –
Collection (Issuances) of Note Receivable 4,954 (454) (3,000)
Net Cash Used for Investing Activities (26,802) (198,189) (110,880)
Financing Activities
Purchase of Treasury Stock (42,691) (11,069) (43,929)
Other Changes in Shareholders’ Equity (282) 6,139 (6,707)
Net Cash Used for Financing Activities (42,973) (4,930) (50,636)
Net Increase/(Decrease) in Cash and Equivalents 223,371 30,083 (10,327)
Cash and Equivalents, Beginning of Year 167,664 137,581 147,908
Cash and Equivalents, End of Year $391,035 $167,664 $137,581
Significant Noncash Investing Activities
Construction Allowance Receivables $ 8,778 $ 14,030 $ 8,668
Accrual for Construction in Progress $ 12,680 $ 25,338 $ 24,371
CONSOLIDATED STATEMENTS OF CASH FLOWS
The accompanying Notes are an integral part of these Consolidated Financial Statements.
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