Dollar General 2009 Annual Report Download - page 122

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DOLLAR GENERAL CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
15. Guarantor subsidiaries (Continued)
March 6, 2007 through February 1, 2008
DOLLAR
GENERAL GUARANTOR OTHER CONSOLIDATED
SUCCESSOR CORPORATION SUBSIDIARIES SUBSIDIARIES ELIMINATIONS TOTAL
STATEMENTS OF CASH FLOWS:
Cash flows from operating activities:
Net income (loss) ............. $ (4,818) $ 127,632 $ 16,598 $(144,230) $ (4,818)
Adjustments to reconcile net income
(loss) to net cash provided by (used
in) operating activities:
Depreciation and amortization .... 21,634 128,431 148 — 150,213
Deferred income taxes ......... (2,120) 20,208 1,463 — 19,551
Loss on debt retirement ........ 1,249 — — — 1,249
Noncash share-based compensation . 3,827 — — — 3,827
Noncash inventory adjustments and
asset impairments .......... — 6,113 — — 6,113
Other noncash gains and losses . . . 3,705 571 — — 4,276
Equity in subsidiaries’ earnings, net . (144,230) — — 144,230 —
Change in operating assets and
liabilities:
Merchandise inventories ...... — 73,356 — — 73,356
Prepaid expenses and other
current assets ........... (1,120) 4,783 76 — 3,739
Accounts payable ........... (40,745) 12,428 (13,078) — (41,395)
Accrued expenses and other
liabilities .............. (7,456) 6,418 17,099 — 16,061
Income taxes ............. (45,416) 44,829 7,935 — 7,348
Other .................. (3,169) 3,675 (422) — 84
Net cash provided by (used in)
operating activities ........... (218,659) 428,444 29,819 — 239,604
Cash flows from investing activities:
Merger, net of cash acquired ...... (5,649,182) (1,129,953) 40,744 — (6,738,391)
Purchases of property and equipment . (1,617) (82,003) (21) — (83,641)
Purchases of short-term investments . . — — (3,800) — (3,800)
Sales of short-term investments ..... — — 21,445 — 21,445
Purchases of long-term investments . . — (37,047) (7,473) — (44,520)
Proceeds from sale of property and
equipment ................ — 533 — — 533
Net cash provided by (used in)
investing activities ............ (5,650,799) (1,248,470) 50,895 — (6,848,374)
Cash flows from financing activities:
Issuance of common stock ........ 2,759,540 — — — 2,759,540
Net borrowings (repayments) under
revolving credit facility ......... 102,500 — — — 102,500
Issuance of long-term obligations .... 4,176,817 — — — 4,176,817
Repayments of long-term obligations . . (236,084) (5,861) — — (241,945)
Debt issuance costs ............ (87,392) — — — (87,392)
Repurchases of equity ........... (541) — — — (541)
Changes in intercompany note
balances, net ............... (837,062) 885,266 (48,204) — —
Net cash provided by (used in)
financing activities ........... 5,877,778 879,405 (48,204) — 6,708,979
Net increase in cash and cash
equivalents ................ 8,320 59,379 32,510 — 100,209
Cash and cash equivalents, beginning
of period ................. — — — — —
Cash and cash equivalents, end of year $ 8,320 $ 59,379 $ 32,510 $ — $ 100,209
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