Dollar General 2012 Annual Report Download - page 175

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10-K
DOLLAR GENERAL CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
16. Guarantor subsidiaries (Continued)
For the year ended February 3, 2012
DOLLAR
GENERAL GUARANTOR OTHER CONSOLIDATED
CORPORATION SUBSIDIARIES SUBSIDIARIES ELIMINATIONS TOTAL
STATEMENTS OF CASH FLOWS:
Cash flows from operating activities:
Net income .................... $ 766,685 $ 901,032 $ 18,019 $(919,051) $ 766,685
Adjustments to reconcile net income to net
cash from operating activities:
Depreciation and amortization ....... 31,793 243,485 130 — 275,408
Deferred income taxes ............ 1,649 25,328 (16,745) — 10,232
Tax benefit of stock options ......... (33,102) — — — (33,102)
Loss on debt retirement, net ......... 60,303 — — — 60,303
Noncash share-based compensation .... 15,250 — — — 15,250
Other noncash gains and losses ....... 653 53,537 — — 54,190
Equity in subsidiaries’ earnings, net .... (919,051) — — 919,051 —
Change in operating assets and liabilities:
Merchandise inventories .......... — (291,492) — — (291,492)
Prepaid expenses and other current
assets .................... (19,361) (12,671) (2,522) — (34,554)
Accounts payable .............. (17,678) 120,607 1,513 — 104,442
Accrued expenses and other liabilities . . 20,799 45,015 5,949 — 71,763
Income taxes ................. 47,681 (8,233) 12,102 — 51,550
Other ..................... (3) (121) (71) — (195)
Net cash provided by (used in) operating
activities ..................... (44,382) 1,076,487 18,375 — 1,050,480
Cash flows from investing activities:
Purchases of property and equipment ..... (30,403) (484,388) (70) — (514,861)
Proceeds from sales of property and
equipment .................... 33 993 — — 1,026
Net cash provided by (used in) investing
activities ..................... (30,370) (483,395) (70) — (513,835)
Cash flows from financing activities:
Repayments of long-term obligations ..... (910,677) (1,274) — — (911,951)
Borrowings under revolving credit facility . . 1,157,800 — — — 1,157,800
Repayments of borrowings under revolving
credit facility .................. (973,100) — — — (973,100)
Repurchase of common stock ......... (186,597) — — — (186,597)
Other equity transactions, net of employee
taxes paid .................... (27,219) — — — (27,219)
Tax benefit of stock options ........... 33,102 — — — 33,102
Changes in intercompany note balances, net . 871,742 (853,595) (18,147) — —
Net cash provided by (used in) financing
activities ..................... (34,949) (854,869) (18,147) — (907,965)
Net increase (decrease) in cash and cash
equivalents ................... (109,701) (261,777) 158 — (371,320)
Cash and cash equivalents, beginning of year 111,545 364,404 21,497 — 497,446
Cash and cash equivalents, end of year .... $ 1,844 $ 102,627 $ 21,655 $ — $ 126,126
96