Dollar General 2007 Annual Report Download - page 60

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58
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
Successor Predecessor
July 7, 2007
through
February 1, 2008 (a)
February 3, 2007
through
July 6, 2007
Year Ended
February 2, 2007
Year Ended
February 3, 2006
(30 weeks) (22 weeks) (52 weeks) (53 weeks)
Cash flows from operating activities:
Net income (loss) $ (4,818) $ (7,998) $ 137,943 $ 350,155
Adjustments to reconcile net income (loss) to net cash
provided by operating activities:
Depreciation and amortization 150,213 83,917 200,608 186,824
Deferred income taxes 19,551 (20,874) (38,218) 8,244
Tax benefit from stock option exercises - (3,927) (2,513) 6,457
Loss on debt retirement, net 1,249 - --
Noncash share-based compensation 3,827 45,433 7,578 3,332
Noncash unrealized loss on interest rate swap 3,705 - --
Noncash inventory adjustments and asset impairments - - 78,115 -
Change in operating assets and liabilities:
Merchandise inventories 79,469 16,424 (28,057) (97,877)
Prepaid expenses and other current assets 3,739 (6,184) (5,411) (10,630)
Accounts payable (41,395) 34,794 53,544 87,230
Accrued expenses and other liabilities 16,061 52,995 38,353 40,376
Income taxes 7,348 2,809 (35,165) (26,017)
Other 655 4,557 (1,420) 7,391
Net cash provided by operating activities 239,604 201,946 405,357 555,485
Cash flows from investing activities:
Merger, net of cash acquired (6,738,391) - --
Purchases of property and equipment (83,641) (56,153) (261,515) (284,112)
Purchases of short-term investments (3,800) (5,100) (49,675) (132,775)
Sales of short-term investments 21,445 9,505 51,525 166,850
Purchases of long-term investments (7,473) (15,754) (25,756) (16,995)
Purchases of promissory notes (37,047) - - -
Insurance proceeds related to property and equipment - - 1,807 1,210
Proceeds from sale of property and equipment 533 620 1,650 1,419
Net cash used in investing activities (6,848,374) (66,882) (281,964) (264,403)
Cash flows from financing activities:
Issuance of common stock 2,759,540 - --
Borrowings under revolving credit facility 1,522,100 - 2,012,700 232,200
Repayments of borrowings under revolving credit facility (1,419,600) - (2,012,700) (232,200)
Issuance of long-term obligations 4,176,817 - - 14,495
Repayments of long-term obligations (241,945) (4,500) (14,118) (14,310)
Debt issuance costs (87,392) - --
Payment of cash dividends - (15,710) (62,472) (56,183)
Proceeds from exercise of stock options - 41,546 19,894 29,405
Repurchases of common stock (541) - (79,947) (297,602)
Tax benefit of stock options - 3,927 2,513 -
Other financing activities - - (584) 892
Net cash provided by (used in) financing activities 6,708,979 25,263 (134,714) (323,303)
Net increase (decrease) in cash and cash equivalents 100,209 160,327 (11,321) (32,221)
Cash and cash equivalents, beginning of period - 189,288 200,609 232,830
Cash and cash equivalents, end of period $ 100,209 $ 349,615 $ 189,288 $ 200,609