Dollar General 2006 Annual Report Download - page 94

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For the year ended January 28, 2005
DOLLAR
GENERAL
CORPORATION GUARANTOR
SUBSIDIARIES CONSOLIDATED
ELIMINATIONS TOTAL
STATEMENTS OF CASH
FLOWS:
Cash flows from operating activities:
Net income $344,190 $333,852 $(333,852) $344,190
Adjustments to reconcile net income
to net cash provided by operating
activities:
Depreciation and amortization 17,181 147,297 - 164,478
Deferred income taxes 5,516 20,235 - 25,751
Noncash share-based
compensation 1,779 - - 1,779
Tax benefit from stock option
exercises 9,657 - - 9,657
Equity in subsidiaries’ earnings,
net (333,852) - 333,852 -
Change in operating assets and
liabilities:
Merchandise inventories - (219,396) - (219,396)
Prepaid expenses and other
current assets 1,644 (4,996) - (3,352)
Accounts payable 10,665 11,593 - 22,258
Accrued expenses and
other (8,351) 43,399 - 35,048
Income taxes 4,751 19,042 - 23,793
Other (4,118) (8,573) - (12,691)
Net cash provided by operating
activities 49,062 342,453 -
391,515
Cash flows from investing activities:
Purchases of property and equipment (20,443) (267,851) - (288,294)
Purchases of short-term investments (220,200) (1,500) - (221,700)
Sales of short-term investments 245,000 2,501 - 247,501
Proceeds from sale of property and
equipment 3 3,321 - 3,324
Net cash provided by (used in)
investing activities 4,360 (263,529) - (259,169)
Cash flows from financing activities:
Borrowings under revolving credit
facility 195,000 - - 195,000
Repayments of borrowings under
revolving credit facility (195,000) - - (195,000)
Repayments of long-term obligations (7,847) (8,570) - (16,417)
Payment of cash dividends (52,682) - - (52,682)
Proceeds from exercise of stock
options 34,128 - - 34,128
Repurchases of common stock (209,295) - - (209,295)
Changes in intercompany note
balances, net 25,586 (25,586) - -
Other financing activities (1,149) - - (1,149)
Net cash used in financing activities (211,259) (34,156) - (245,415)
Net increase (decrease) in cash and
cash equivalents (157,837) 44,768 - (113,069)
Cash and cash equivalents, beginning
of year 285,007 60,892 - 345,899
Cash and cash equivalents, end of year $127,170 $105,660 $- $232,830
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