Dollar General 2008 Annual Report Download - page 123

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121
PREDECESSOR
For the year ended February 2, 2007
DOLLAR
GENERAL
CORPORATION
GUARANTOR
SUBSIDIARIES
OTHER
SUBSIDIARIES ELIMINATIONS
CONSOLIDATED
TOTAL
STATEMENTS OF CASH FLOWS:
Cash flows from operating activities:
Net income
$
137,943
$
72,038
$
20,455
$
(92,493)
$
137,943
Adjustments to reconcile net income to
net cash provided by operating
activities:
Depreciation and amortization 21,436
178,920 252 - 200,608
Deferred income taxes
(1,845)
(35,118)
(1,255)
-
(38,218)
Tax benefit of stock options (2,513)
- - - (2,513)
Noncash inventory adjustments and
asset impairments -
76,599 - - 76,599
Noncash share-based compensation
7,578
-
-
-
7,578
Other noncash gains and losses -
5,820 - - 5,820
Equity in subsidiaries’ earnings, net (92,493)
- - 92,493 -
Change in operating assets and
liabilities:
Merchandise inventories
-
(26,541)
-
-
(26,541)
Prepaid expenses and other current
assets (1,042) (13,655) 9,286 - (5,411)
Accounts payable
(4,246)
39,189
18,601
-
53,544
Accrued expenses and other (225)
38,564 14 - 38,353
Income taxes
(2,558)
(29,524)
(3,083)
-
(35,165)
Other 430
(7,670) - - (7,240)
Net cash provided by operating
activities 62,465 298,622 44,270 - 405,357
Cash flows from investing activities:
Purchases of property and equipment
(13,270)
(247,788)
(457)
-
(261,515)
Purchases of short-term investments (38,700)
- (10,975) - (49,675)
Sales of short-term investments
38,700
-
12,825
-
51,525
Purchases of long-term investments -
- (25,756) - (25,756)
Sale and insurance proceeds related to
property and equipment
143
3,303
11
-
3,457
Net cash used in investing activities
(13,127)
(244,485)
(24,352)
-
(281,964)
Cash flows from financing activities:
Net borrowings (repayments) under
revolving credit facility
-
-
-
-
-
Repayments of long-term obligations 97
(14,215) - - (14,118)
Debt issuance costs
(584)
-
-
-
(584)
Payment of cash dividends (62,472)
- - - (62,472)
Exercises of stock options
19,894
-
-
-
19,894
Repurchases of common stock (79,947)
- - - (79,947)
Tax benefit of stock options
2,513
-
-
-
2,513
Changes in intercompany note balances,
net 75,061 (40,299) (34,762) - -
Net cash used in financing activities (45,438)
(54,514) (34,762) - (134,714)
Net increase (decrease) in cash and cash
equivalents
3,900
(377)
(14,844)
-
(11,321)
Cash and cash equivalents, beginning of
year 110,410 58,484 31,715 - 200,609
Cash and cash equivalents, end of year
$
114,310
$
58,107
$
16,871
$
-
$
189,288