Dollar General 2006 Annual Report Download - page 92

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For the year ended February 2, 2007
DOLLAR
GENERAL
CORPORATION GUARANTOR
SUBSIDIARIES ELIMINATIONS CONSOLIDATED
TOTAL
STATEMENTS OF CASH
FLOWS:
Cash flows from operating activities:
Net income $137,943 $86,160 $(86,160) $ 137,943
Adjustments to reconcile net income
to net cash provided by
operating activities:
Depreciation and amortization 21,436 179,172 - 200,608
Deferred income taxes (315) (37,903) - (38,218)
Noncash share-based
compensation 7,578 -- 7,578
Tax benefit from stock option
exercises (2,513) -- (2,513)
Noncash inventory adjustments
and asset impairments - 78,115 - 78,115
Equity in subsidiaries’
earnings, net (86,160) -86,160 -
Change in operating assets and
liabilities:
Merchandise inventories - (28,057) - (28,057)
Prepaid expenses and other
current assets (1,042) (4,369) - (5,411)
Accounts payable (4,247) 57,791 - 53,544
Accrued expenses and other (225) 38,578 - 38,353
Income taxes (2,570) (32,595) - (35,165)
Other 430 (1,850) - (1,420)
Net cash provided by operating
activities 70,315 335,042 - 405,357
Cash flows from investing activities:
Purchases of property and equipment (13,270) (248,245) - (261,515)
Purchases of short-term investments (38,700) (10,975) - (49,675)
Sales of short-term investments 38,700 12,825 - 51,525
Purchases of long-term investments - (25,756) - (25,756)
Insurance proceeds related to
property and equipment - 1,807 - 1,807
Proceeds from sale of property and
equipment 143 1,507 - 1,650
Net cash used in investing activities (13,127) (268,837) - (281,964)
Cash flows from financing activities:
Borrowings under revolving credit
facility 2,012,700 -- 2,012,700
Repayments of borrowings under
revolving credit facility (2,012,700) -- (2,012,700)
Repayments of long-term obligations 97 (14,215) - (14,118)
Payment of cash dividends (62,472) -- (62,472)
Proceeds from exercise of stock
options 19,894 -- 19,894
Repurchases of common stock (79,947) -- (79,947)
Tax benefit of stock options 2,513 -- 2,513
Changes in intercompany note
balances, net 66,588 (66,588) - -
Other financing activities 39 (623) - (584)
Net cash used in financing activities (53,288) (81,426) - (134,714)
Net increase (decrease) in cash and
cash equivalents 3,900 (15,221) - (11,321)
Cash and cash equivalents, beginning
of year 110,410 90,199 - 200,609
Cash and cash equivalents, end of
year $114,310 $74,978 $- $ 189,288
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