Dollar General 2014 Annual Report Download - page 127

10-K
DOLLAR GENERAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
For the Year Ended
January 30, January 31, February 1,
2015 2014 2013
Cash flows from operating activities:
Net income .......................................... $1,065,345 $ 1,025,116 $ 952,662
Adjustments to reconcile net income to net cash from operating
activities:
Depreciation and amortization ........................... 342,353 332,837 302,911
Deferred income taxes ................................. (17,734) (36,851) (2,605)
Tax benefit of share-based awards ......................... (12,147) (30,990) (87,752)
Loss on debt retirement, net ............................. — 18,871 30,620
Noncash share-based compensation ........................ 37,338 20,961 21,664
Other noncash (gains) and losses .......................... 8,551 (12,747) 6,774
Change in operating assets and liabilities:
Merchandise inventories .............................. (233,559) (144,943) (391,409)
Prepaid expenses and other current assets .................. (25,048) (4,947) 5,553
Accounts payable ................................... 97,166 36,942 194,035
Accrued expenses and other liabilities ..................... 41,635 16,265 (36,741)
Income taxes ...................................... 12,399 (5,249) 138,711
Other ........................................... (1,555) (2,200) (3,071)
Net cash provided by (used in) operating activities ............... 1,314,744 1,213,065 1,131,352
Cash flows from investing activities:
Purchases of property and equipment ........................ (373,967) (538,444) (571,596)
Proceeds from sales of property and equipment ................. 2,268 288,466 1,760
Net cash provided by (used in) investing activities ................ (371,699) (249,978) (569,836)
Cash flows from financing activities:
Issuance of long-term obligations ........................... — 2,297,177 500,000
Repayments of long-term obligations ......................... (78,467) (2,119,991) (478,255)
Borrowings under revolving credit facilities ..................... 1,023,000 1,172,900 2,286,700
Repayments of borrowings under revolving credit facilities .......... (1,023,000) (1,303,800) (2,184,900)
Debt issuance costs ..................................... — (15,996) (15,278)
Payments for cash flow hedge related to debt issuance ............. — (13,217) —
Repurchases of common stock ............................. (800,095) (620,052) (671,459)
Other equity transactions, net of employee taxes paid ............. (2,373) (26,341) (71,393)
Tax benefit of share-based awards ........................... 12,147 30,990 87,752
Net cash provided by (used in) financing activities ................ (868,788) (598,330) (546,833)
Net increase (decrease) in cash and cash equivalents .............. 74,257 364,757 14,683
Cash and cash equivalents, beginning of year ................... 505,566 140,809 126,126
Cash and cash equivalents, end of year ....................... $ 579,823 $ 505,566 $ 140,809
Supplemental cash flow information:
Cash paid for:
Interest ........................................... $ 82,447 $ 73,464 $ 121,712
Income taxes ....................................... $ 631,483 $ 646,811 $ 422,333
Supplemental schedule of noncash investing and financing activities:
Purchases of property and equipment awaiting processing for payment,
included in Accounts payable ............................ $ 31,586 $ 27,082 $ 39,147
Purchases of property and equipment under capital lease obligations . . . $ — $ — $ 3,440
The accompanying notes are an integral part of the consolidated financial statements.
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