GameStop 2005 Annual Report Download - page 113

Download and view the complete annual report

Please find page 113 of the 2005 GameStop annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 120

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120

GAMESTOP CORP.
CONSOLIDATING STATEMENT OF CASH FLOWS
For the Fiscal Year Ended January 31, 2004
Issuers and
Guarantor
Subsidiaries
January 31,
2004
Non-Guarantor
Subsidiaries
January 31,
2004 Eliminations
Consolidated
January 31,
2004
(Amounts in thousands)
Cash flows from operating activities:
Net earnings (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 63,786 $ (319) $— $ 63,467
Adjustments to reconcile net earnings to net cash flows
provided by (used in) operating activities:
Depreciation and amortization (including amounts in
cost of sales) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29,241 246 — 29,487
Provision for inventory reserves. . . . . . . . . . . . . . . . . 12,901 — — 12,901
Amortization of loan cost . . . . . . . . . . . . . . . . . . . . . 313 — — 313
Deferred taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,713 — — 5,713
Tax benefit realized from exercise of stock options by
employees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,702 — — 9,702
Loss on disposal of property and equipment . . . . . . . . 213 — — 213
Increase in deferred rent and other long-term liabilities
for scheduled rent increases in long-term leases . . . . 342 (4) — 338
Increase in liability to landlords for tenant allowances,
net................................... 937 — — 937
Minority interest . . . . . . . . . . . . . . . . . . . . . . . . . . . — (298) — (298)
Changes in operating assets and liabilities, net
Receivables, net . . . . . . . . . . . . . . . . . . . . . . . . . . (1,502) (452) — (1,954)
Merchandise inventories . . . . . . . . . . . . . . . . . . . . (72,010) (702) — (72,712)
Prepaid expenses and other current assets . . . . . . . . (3,996) (115) — (4,111)
Prepaid taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . (12,656) (119) — (12,775)
Accounts payable and accrued liabilities . . . . . . . . . 33,340 6,716 — 40,056
Net cash flows provided by (used in) operating
activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 66,324 4,953 — 71,277
Cash flows from investing activities:
Purchase of property and equipment . . . . . . . . . . . . . . . (63,155) (1,329) — (64,484)
Acquisition of controlling interest in Gamesworld Group
Limited, net of cash received . . . . . . . . . . . . . . . . . . — (3,027) — (3,027)
Net cash flows used in investing activities . . . . . . . . . . . (63,155) (4,356) — (67,511)
Cash flows from financing activities:
Issuance of shares relating to employee stock options . . . 6,899 — — 6,899
Net increase in other noncurrent assets . . . . . . . . . . . . . (3,801) 3,279 — (522)
Purchase of treasury shares through repurchase
program . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (35,006) — — (35,006)
Repayment of debt of Gamesworld Group Limited . . . . . — (2,296) — (2,296)
Net cash flows provided by (used in) financing
activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (31,908) 983 — (30,925)
Exchange rate effect on cash and cash equivalents . . . . . . . — 34 — 34
Net decrease in cash and cash equivalents . . . . . . . . . . . . . (28,739) 1,614 — (27,125)
Cash and cash equivalents at beginning of period . . . . . . . . 232,030 — — 232,030
Cash and cash equivalents at end of period . . . . . . . . . . . . $203,291 $ 1,614 $— $204,905
104
GAMESTOP CORP.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)