Dollar General 2007 Annual Report Download - page 111

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109
PREDECESSOR February 3, 2007 through July 6, 2007
DOLLAR
GENERAL
CORPORATION
GUARANTOR
SUBSIDIARIES
OTHER
SUBSIDIARIES ELIMINATIONS
CONSOLIDATED
TOTAL
STATEMENTS OF CASH FLOWS:
Cash flows from operating activities:
Net income (loss) $ (7,998) $ 32,974 $ 10,011 $ (42,985) $ (7,998)
Adjustments to reconcile net income
(loss) to net cash provided by
operating activities:
Depreciation and amortization 9,051 74,770 96 - 83,917
Deferred income taxes (7,982) (9,194) (3,698) - (20,874)
Noncash share-based
compensation 45,433
- - - 45,433
Tax benefit from stock option
exercises (3,927)
- - - (3,927)
Equity in subsidiaries’ earnings,
net (42,985) - - 42,985 -
Change in operating assets and
liabilities:
Merchandise inventories - 16,424 - - 16,424
Prepaid expenses and other
current assets 5,758 (11,762) (180) - (6,184)
Accounts payable 44,909 (23,103) 12,988 - 34,794
Accrued expenses and other 7,897 36,021 9,077 - 52,995
Income taxes (24,998) 31,741 (3,934) - 2,809
Other 21
4,726 (190) - 4,557
Net cash provided by operating
activities 25,179
152,597 24,170 - 201,946
Cash flows from investing activities:
Purchases of property and equipment (5,321) (50,737) (95) - (56,153)
Purchases of short-term investments - - (5,100) - (5,100)
Sales of short-term investments - - 9,505 - 9,505
Purchases of long-term investments - - (15,754) - (15,754)
Proceeds from sale of property and
equipment -
620 - - 620
Net cash used in investing activities (5,321) (50,117) (11,444) - (66,882)
Cash flows from financing activities:
Repayments of long-term obligations (148) (4,352) - - (4,500)
Payment of cash dividends (15,710) - - - (15,710)
Proceeds from exercise of stock
options 41,546
- - - 41,546
Tax benefit of stock options 3,927 - - - 3,927
Changes in intercompany note
balances, net 75,840 (86,988) 11,148 - -
Net cash provided by (used in)
financing activities 105,455
(91,340) 11,148 - 25,263
Net increase in cash and cash
equivalents 125,313
11,140 23,874 - 160,327
Cash and cash equivalents, beginning
of year 114,310 58,107 16,871 - 189,288
Cash and cash equivalents, end of
period $ 239,623 $ 69,247 $ 40,745 $ - $ 349,615