Bed, Bath and Beyond 2000 Annual Report Download - page 15

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BED BATH & BEYOND ANNUAL REPORT 2000
13
FISCAL YEAR ENDED
March 3, February 26, February 27,
(in thousands) 2001 2000 1999
Cash Flows from Operating Activities:
Net earnings $ 171,922)$ 131,229)$ 97,346)
Adjustments to reconcile net earnings to net
cash provided by operating activities:
Depreciation and amortization 46,650)31,625)23,217)
Tax benefit from exercise of stock options 48,295)8,932)11,546)
Deferred income taxes (3,939) (8,197) (5,166)
(Increase) decrease in assets:
Merchandise inventories (136,271) (110,096) (89,980)
Prepaid expenses and other current assets 2,627)(2,347) (2,223)
Other assets (1,124) 96)(1,276)
Increase (decrease) in liabilities:
Accounts payable 47,287)45,744)34,652)
Accrued expenses and other current liabilities 20,721)18,354)16,115)
Income taxes payable (1,602) 16,980)4,595)
Deferred rent 3,370)3,616)3,766)
Net cash provided by operating activities 197,936)135,936)92,592)
Cash Flows from Investing Activities:
Capital expenditures (140,395) (90,098) (62,274)
Net cash used in investing activities (140,395) (90,098) (62,274)
Cash Flows from Financing Activities:
Proceeds from exercise of stock options 37,756)7,797)6,798)
Net cash provided by financing activities 37,756)7,797)6,798)
Net increase in cash and cash equivalents 95,297)53,635)37,116)
Cash and cash equivalents:
Beginning of period 144,031)90,396)53,280)
End of period $ 239,328)$ 144,031)$ 90,396)
See accompanying Notes to Consolidated Financial Statements.
Consolidated Statements of Cash Flows
Bed Bath & Beyond Inc. and Subsidiaries