Dollar General 2007 Annual Report Download - page 113

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111
PREDECESSOR For the year ended February 3, 2006
DOLLAR
GENERAL
CORPORATION
GUARANTOR
SUBSIDIARIES
OTHER
SUBSIDIARIES ELIMINATIONS
CONSOLIDATED
TOTAL
STATEMENTS OF CASH FLOWS:
Cash flows from operating activities:
Net income $ 350,155 $ 323,220 $ 10,364 $ (333,584) $ 350,155
Adjustments to reconcile net income to
net cash provided by operating
activities:
Depreciation and amortization 20,046 166,600 178 - 186,824
Deferred income taxes (750) 16,692 (7,698) - 8,244
Noncash share-based
compensation 3,332
- - - 3,332
Tax benefit from stock option
exercises 6,457
- - - 6,457
Equity in subsidiaries’ earnings,
net (333,584) - - 333,584 -
Change in operating assets and
liabilities:
Merchandise inventories - (97,877) - - (97,877)
Prepaid expenses and other
current assets (4,546) 23,200 (29,284) - (10,630)
Accounts payable (26,052) (54,502) 167,784 - 87,230
Accrued expenses and other (12,210) 52,719 (133) - 40,376
Income taxes 13 (38,619) 12,589 - (26,017)
Other 2,919
4,472 - - 7,391
Net cash provided by operating
activities 5,780
395,905 153,800 - 555,485
Cash flows from investing activities:
Purchases of property and equipment (18,089) (265,954) (69) - (284,112)
Purchases of short-term investments (123,925) - (8,850) - (132,775)
Sales of short-term investments 166,350 500 - - 166,850
Purchases of long-term investments - - (16,995) - (16,995)
Insurance proceeds related to property
and equipment - 1,210 - - 1,210
Proceeds from sale of property and
equipment 100
1,319 - - 1,419
Net cash provided by (used in)
investing activities 24,436
(262,925) (25,914) - (264,403)
Cash flows from financing activities:
Borrowings under revolving credit
facility 232,200
- - - 232,200
Repayments of borrowings under
revolving credit facility (232,200) - - - (232,200)
Issuance of long-term borrowing - 14,495 - - 14,495
Repayments of long-term obligations (4,969) (9,341) - - (14,310)
Payment of cash dividends (56,183) - - - (56,183)
Proceeds from exercise of stock
options 29,405
- - - 29,405
Repurchases of common stock (297,602) - - - (297,602)
Changes in intercompany note
balances, net 281,481
(165,005) (116,476) - -
Other financing activities 892 - - - 892
Net cash used in financing activities (46,976) (159,851) (116,476) - (323,303)
Net increase (decrease) in cash and
cash equivalents (16,760) (26,871) 11,410 - (32,221)
Cash and cash equivalents, beginning
of year 127,170
85,355 20,305 - 232,830
Cash and cash equivalents, end of year $ 110,410 $ 58,484 $ 31,715 $ - $ 200,609