Dillard's 2003 Annual Report Download - page 38

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Consolidated Statements of Cash Flows
Dollars in Thousands
Years Ended
January 31, 2004 February 1, 2003 February 2, 2002
Operating Activities:
Net income (loss) $9,344 $(398,405) $71,798
Adjustments to reconcile net income (loss) to
net cash provided by operating activities:
Depreciation and amortization 297,201 305,545 313,711
Deferred income taxes 13,623 24,878 2,043
Loss (gain) on early extinguishments of debt - 6,834 (9,394)
Impairment charges 43,727 52,224 3,752
Gain on sale of joint venture (15,624) (64,295) __
Gain on sale of property and equipment (8,699) (1,103) (2,060)
Provision for loan losses 35,244 36,574 21,286
Cumulative effect of accounting change, net of taxes __ 530,331 __
Changes in operating assets and liabilities:
Decrease (increase) in accounts receivable 110,936 286 (116,985)
(Increase) decrease in merchandise inventories (38,069) (32,445) 54,323
Decrease (increase) in other current assets 16,121 (30,760) 28,794
(Increase) decrease in other assets (37,048) 31,559 53,504
(Decrease) increase in trade accounts payable
and accrued expenses, other liabilities and income taxes 5,350 (104,281) 196,209
Net cash provided by operating activities 432,106 356,942 616,981
Investing Activities:
Purchase of property and equipment (227,421) (233,268) (270,595)
Proceeds from sale of property and equipment 31,766 — —
Proceeds from sale of joint venture 34,579 68,295 —
Net cash used in investing activities (161,076) (164,973) (270,595)
Financing Activities:
Principal payments on long-term debt and capital lease obligations (272,702) (340,081) (402,941)
Increase in short-term borrowings and capital lease obligations 51,369 — —
Cash dividends paid (13,395) (13,529) (13,123)
Proceeds from issuance of common stock 1,130 11,037 983
Purchase of treasury stock (18,915) — (22,325)
Proceeds from receivable financing, net — 100,000 —
Proceeds from long-term borrowings — 40,000 50,000
Net cash used in financing activities (252,513) (202,573) (387,406)
Increase (decrease) in Cash and Cash Equivalents 18,517 (10,604) (41,020)
Cash and Cash Equivalents, Beginning of Year 142,356 152,960 193,980
Cash and Cash Equivalents, End of Year $160,873 $142,356 $152,960
See notes to consolidated financial statements.
F-6