GameStop 2006 Annual Report Download - page 109

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GAMESTOP CORP.
CONSOLIDATING STATEMENT OF CASH FLOWS
For the 52 Weeks Ended January 29, 2005
Issuers and
Guarantor
Subsidiaries
January 29,
2005
Non-Guarantor
Subsidiaries
January 29,
2005 Eliminations
Consolidated
January 29,
2005
(Amounts in thousands)
Cash flows from operating activities:
Net earnings (loss) ......................... $ 63,342 $(2,416) $— $ 60,926
Adjustments to reconcile net earnings to net cash
flows provided by operating activities:
Depreciation and amortization (including amounts
in cost of sales) ........................ 36,418 601 — 37,019
Provision for inventory reserves .............. 17,808 — — 17,808
Amortization of loan cost ................... 432 — — 432
Deferred taxes . .......................... 5,234 168 — 5,402
Loss on disposal of property and equipment. . .... 382 — — 382
Increase in deferred rent and other long-term
liabilities . . . .......................... 5,350 (1) — 5,349
Increase in liability to landlords for tenant
allowances, net......................... 1,644 — — 1,644
Minority interest ......................... — (96) — (96)
Changes in operating assets and liabilities, net
Receivables, net ........................ (1,122) 855 — (267)
Merchandise inventories . . . ............... (7,964) (2,614) — (10,578)
Prepaid expenses and other current assets. . .... (3,874) (186) — (4,060)
Prepaid taxes .......................... 9,902 (830) — 9,072
Tax benefit realized from exercise of stock
options. . . .......................... 5,082 — — 5,082
Accounts payable and accrued liabilities . . .... 8,618 9,254 — 17,872
Net cash flows provided by operating
activities . .......................... 141,252 4,735 — 145,987
Cash flows from investing activities:
Purchase of property and equipment ............... (95,149) (3,156) — (98,305)
Acquisition of controlling interest in Gamesworld
Group Limited, net of cash acquired . .......... — (62) — (62)
Net cash flows used in investing activities ......... (95,149) (3,218) — (98,367)
Cash flows from financing activities:
Purchase of treasury shares through repurchase
program ............................... (14,994) — — (14,994)
Repurchase of common stock held by Barnes &
Noble . . ............................... (111,781) — — (111,781)
Issuance of debt relating to the repurchase of
common stock from Barnes & Noble .......... 74,020 — — 74,020
Repayment of debt relating to the repurchase of
common stock from Barnes & Noble .......... (37,500) — — (37,500)
Proceeds from exercise of stock options .......... 9,474 — — 9,474
Net increase in other noncurrent assets . .......... (825) — — (825)
Net cash flows used in financing activities ........ (81,606) — — (81,606)
Exchange rate effect on cash and cash equivalents. .... — 73 — 73
Net increase (decrease) in cash and cash equivalents . . . (35,503) 1,590 — (33,913)
Cash and cash equivalents at beginning of period . .... 203,291 1,614 — 204,905
Cash and cash equivalents at end of period .......... $167,788 $ 3,204 $— $ 170,992
F-41
GAMESTOP CORP.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)