Build-A-Bear Workshop 2009 Annual Report Download - page 55

Download and view the complete annual report

Please find page 55 of the 2009 Build-A-Bear Workshop annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 74

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74

BUILD-A-BEAR WORKSHOP, INC. 2009 FORM 10-K
Build-A-Bear Workshop, Inc. and Subsidiaries
Consolidated Statements of Cash Flows
Fiscal Year
(Dollars in thousands) 2009 2008 2007
Cash flows from operating activities:
Net income (loss) $(12,473) $ 4,564 $ 22,509
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization 28,487 28,883 26,292
Losses from investment in affiliate 9,615 ——
Impairment of Friends 2B Made assets —2,867 —
Impairment of store assets 5,321 1,825 —
Deferred taxes (5,090) (847) (2,844)
Loss on disposal of property and equipment 175 273 515
Tax benefit from stock option exercises —— (538)
Stock-based compensation 4,335 3,638 3,078
Change in assets and liabilities:
Inventories 6,628 (3,795) 1,738
Receivables 1,885 (1,639) 350
Prepaid expenses and other assets (3,852) (3,980) (3,445)
Accounts payable (4,923) (4,330) (1,025)
Accrued expenses and other liabilities (6,118) (3,844) 9,744
Net cash provided by operating activities 23,990 23,615 56,374
Cash flows from investing activities:
Purchases of property and equipment, net (5,727) (21,620) (32,101)
Purchases of other assets and other intangible assets (2,421) (1,595) (5,134)
Investment in unconsolidated affiliate (750) (3,414) (3,703)
Cash flow used in investing activities (8,898) (26,629) (40,938)
Cash flows from financing activities:
Exercise of employee stock options and employee stock purchases —322 1,080
Purchases of Company’s common stock —(14,346) (4,670)
Tax benefit from stock option exercises —— 538
Cash flow used in financing activities —(14,024) (3,052)
Effect of exchange rates on cash (1,693) (2,223) 768
Net increase (decrease) in cash and cash equivalents 13,399 (19,261) 13,152
Cash and cash equivalents, beginning of period 47,000 66,261 53,109
Cash and cash equivalents, end of period $ 60,399 $ 47,000 $ 66,261
Supplemental disclosure of cash flow information:
Cash (received) paid during the period for:
Income taxes $ (1,105) $ 7,348 $ 20,593
Noncash Transactions:
Return of common stock in lieu of tax withholdings and option exercises $ 318 $ 313 $ 501
See accompanying notes to consolidated financial statements.
45