Dollar General 2003 Annual Report Download - page 48

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For the year ended January 31, 2003
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––-
DOLLAR GENERAL GUARANTOR CONSOLIDATED
CORPORATION SUBSIDIARIES ELIMINATIONS TOTAL
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––-
STATEMENTS OF CASH FLOWS:
Cash flows from operating activities:
Net income $264,946 $ 253,720 $ (253,720) $ 264,946
Adjustments to reconcile net income to net cash
provided by operating activities:
Depreciation and amortization 15,222 119,737 - 134,959
Deferred income taxes 63,204 19,663 - 82,867
Tax benefit from stock option exercises 2,372 - - 2,372
Litigation settlement (162,000) - - (162,000)
Equity in subsidiaries’ earnings, net (253,720) - 253,720 -
Change in operating assets and liabilities:
Merchandise inventories - 7,992 - 7,992
Other current assets (5,605) (350,209) 368,380 12,566
Accounts payable 532,305 (147,694) (365,771) 18,840
Accrued expenses and other (20,113) 35,467 (744) 14,610
Income taxes (10,493) 66,951 - 56,458
Other 6,255 (3,960) (1,865) 430
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Net cash provided by operating activities 432,373 1,667 - 434,040
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Cash flows from investing activities:
Purchase of property and equipment (12,949) (121,366) - (134,315)
Proceeds from sale of property and equipment 270 211 - 481
Issuance of long-term notes receivable (130,152) - 130,152 -
Contribution of capital (317,602) - 317,602 -
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Net cash used in investing activities (460,433) (121,155) 447,754 (133,834)
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Cash flows from financing activities:
Issuance of long-term obligations - 130,152 (130,152) -
Repayments of long-term obligations (73,361) (323,733) - (397,094)
Payment of cash dividends (42,638) - - (42,638)
Proceeds from exercise of stock options 5,021 - - 5,021
Other financing activities (5,702) - - (5,702)
Issuance of common stock, net - 317,602 (317,602) -
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Net cash provided by (used in) financing activities (116,680) 124,021 (447,754) (440,413)
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Net increase (decrease) in cash and
cash equivalents (144,740) 4,533 - (140,207)
Cash and cash equivalents, beginning of year 217,539 43,986 - 261,525
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Cash and cash equivalents, end of year $ 72,799 $ 48,519 $ - $ 121,318
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Notes
46
$
cash