Dollar General 2008 Annual Report Download - page 122

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120
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)
Tax benefit of stock options (3,927)
- - - (3,927)
Noncash share-based compensation
45,433
-
-
-
45,433
Other noncash gains and losses -
5,098 - - 5,098
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
(372)
(190)
-
(541)
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