Dollar General 2008 Annual Report Download - page 120
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118
SUCCESSOR
For the year ended January 30, 2009
DOLLAR
GENERAL
CORPORATION
GUARANTOR
SUBSIDIARIES
OTHER
SUBSIDIARIES ELIMINATIONS
CONSOLIDATED
TOTAL
STATEMENTS OF CASH FLOWS:
Cash flows from operating activities:
Net income
$
108,182
$
333,878
$
26,218
$
(360,096)
$
108,182
Adjustments to reconcile net income to
net cash provided by (used in)
operating activities:
Depreciation and amortization 34,638
213,003 258 - 247,899
Deferred income taxes
(4,681)
16,500
61,615
-
73,434
Tax benefit of stock options (950)
- - - (950)
Noncash inventory adjustments and
asset impairments -
50,671 - - 50,671
Noncash share-based compensation
9,958
-
-
-
9,958
Other noncash gains and losses (3,104)
5,538 - - 2,434
Equity in subsidiaries’ earnings, net (360,096)
- - 360,096 -
Change in operating assets and
liabilities:
Merchandise inventories
-
(173,014)
-
-
(173,014)
Prepaid expenses and other current
assets (2,310) 3,765 (2,053) - (598)
Accounts payable
18,717
121,546
93
-
140,356
Accrued expenses and other 11,427
46,177 11,132 - 68,736
Income taxes
56,596
(10,797)
(11,813)
-
33,986
Other 2,529
11,643 (88) - 14,084
Net cash provided by (used in)
operating activities (129,094) 618,910 85,362 - 575,178
Cash flows from investing activities:
Purchases of property and equipment
(16,467)
(189,058)
(21)
-
(205,546)
Purchases of short-term investments -
- (9,903) - (9,903)
Sales of short-term investments
-
-
61,547
-
61,547
Proceeds from sale of property and
equipment - 1,266 - - 1,266
Net cash provided by (used in) investing
activities
(16,467)
(187,792)
51,623
-
(152,636)
Cash flows from financing activities:
Issuance of common stock 4,228
- - - 4,228
Net borrowings (repayments) under
revolving credit facility
(102,500)
-
-
-
(102,500)
Repayments of long-term obligations (40,780)
(3,645) - - (44,425)
Repurchases of stock options
(2,511)
-
-
-
(2,511)
Repurchases of common stock (498)
- - - (498)
Tax benefit of stock options
950
-
-
-
950
Changes in intercompany note balances,
net 570,989 (422,448) (148,541) - -
Net cash provided by (used in)
financing activities 429,878 (426,093) (148,541) - (144,756)
Net increase (decrease) in cash and cash
equivalents
284,317
5,025
(11,556)
-
277,786
Cash and cash equivalents, beginning of
year
8,320
59,379
32,510
-
100,209
Cash and cash equivalents, end of year
$
292,637
$
64,404
$
20,954
$
-
$
377,995