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10-K
DOLLAR GENERAL CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
15. Guarantor subsidiaries (Continued)
For the year ended January 30, 2009
DOLLAR
GENERAL GUARANTOR OTHER CONSOLIDATED
CORPORATION SUBSIDIARIES SUBSIDIARIES ELIMINATIONS 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)
Gain on debt retirement, net ..... (3,818) — — — (3,818)
Non-cash share-based compensation . 9,958 — — — 9,958
Noncash inventory adjustments and
asset impairments .......... — 50,671 — — 50,671
Other non-cash gains and losses . . . 714 5,538 — — 6,252
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
Sales 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
Repayments under revolving credit
facility ................... (102,500) — — — (102,500)
Repayments of long-term obligations . . (40,780) (3,645) — — (44,425)
Repurchases of common stock and
settlement of equity awards, net of
employee taxes paid .......... (3,009) — — — (3,009)
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
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