Build-A-Bear Workshop 2012 Annual Report Download - page 57

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BUILD-A-BEAR WORKSHOP, INC. 2012 FORM 10-K
Build-A-Bear Workshop, Inc. and Subsidiaries
Consolidated Statements of Cash Flows
Fiscal Year
(in thousands) 2012 2011 2010
Cash flows from operating activities:
Net (loss) income $(49,295) $(17,062) $ 104
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization 21,422 24,232 26,976
Goodwill impairment 33,670 ——
Asset impairment 4,486 416 924
Deferred taxes 109 14,560 (2,437)
Losses from investment in affiliate 475 ——
Loss on disposal of property and equipment 292 624 1,259
Excess tax benefit from share-based payments (123) (266) (33)
Stock-based compensation 3,611 4,605 4,818
Trade credit utilization 515 253 —
Change in assets and liabilities:
Inventories 5,298 (5,477) (7,030)
Receivables (1,520) 35 (1,803)
Prepaid expenses and other assets 1,263 1,013 691
Accounts payable and accrued expenses (3,918) 45 7,084
Lease related liabilities (3,120) (4,743) (5,983)
Gift cards and customer deposits 2,445 (561) (325)
Deferred revenue (746) (1,664) (2,224)
Net cash provided by operating activities 14,864 16,010 22,021
Cash flows from investing activities:
Purchases of property and equipment, net (16,633) (12,035) (14,086)
Purchases of other assets and other intangible assets (635) (213) (563)
Proceeds from sale or maturity of short term investments 2,647 4,829 —
Purchases of short term investments —(5,899) —
Proceeds from sale of assets —— 883
Investment in unconsolidated affiliate (475) ——
Cash flow used in investing activities (15,096) (13,318) (13,766)
Cash flows from financing activities:
Exercise of employee stock options and employee stock purchases —149 25
Purchases of Company’s common stock (1,347) (15,002) (7,274)
Excess tax benefit from share-based payments 123 266 33
Cash flow used in financing activities (1,224) (14,587) (7,216)
Effect of exchange rates on cash 260 (493) (2,683)
Net decrease in cash and cash equivalents (1,196) (12,388) (1,644)
Cash and cash equivalents, beginning of period 46,367 58,755 60,399
Cash and cash equivalents, end of period $ 45,171 $ 46,367 $ 58,755
Supplemental disclosure of cash flow information:
Net cash paid (received) during the period for income taxes $ 182 $ (98) $ (3,218)
Noncash Transactions:
Return of common stock in lieu of tax withholdings and option exercises $ 1,432 $ 692 $ 712
Exchange of inventory for trade credits $—$ — $ 4,867
See accompanying notes to consolidated financial statements.
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