GameStop 2009 Annual Report Download - page 107

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GAMESTOP CORP.
CONSOLIDATING STATEMENT OF CASH FLOWS
For the 52 Weeks Ended January 30, 2010
Issuers and
Guarantor
Subsidiaries
January 30,
2010
Non-Guarantor
Subsidiaries
January 30,
2010 Eliminations
Consolidated
January 30,
2010
(Amounts in thousands)
Cash flows from operating activities:
Consolidated net income . .................... $338,738 $ 36,991 $ — $ 375,729
Adjustments to reconcile net earnings to net cash
flows provided by operating activities:
Depreciation and amortization (including amounts
in cost of sales) ........................ 103,529 60,597 — 164,126
Provision for inventory reserves .............. 35,442 13,448 — 48,890
Amortization and retirement of deferred financing
fees and issue discounts . . . ............... 5,003 — — 5,003
Stock-based compensation expense . . .......... 37,811 — — 37,811
Deferred income taxes . .................... 1,715 (2,925) — (1,210)
Excess tax (benefits) expense realized from
exercise of stock-based awards . . . .......... 362 — — 362
Loss on disposal of property and equipment. . .... 2,107 2,270 — 4,377
Changes in other long-term liabilities .......... 8,638 (1,065) — 7,573
Change in the value of foreign exchange
contracts . . . .......................... (3,218) (673) — (3,891)
Changes in operating assets and liabilities, net
Receivables, net ........................ 1,391 2,826 — 4,217
Merchandise inventories . . . ............... 31,556 (1,954) — 29,602
Prepaid expenses and other current assets . . .... 2,971 (931) — 2,040
Prepaid income taxes and accrued income taxes
payable . . .......................... 68,819 (14,263) — 54,556
Accounts payable and accrued liabilities . . .... (83,409) (1,603) — (85,012)
Net cash flows provided by operating
activities . .......................... 551,455 92,718 — 644,173
Cash flows from investing activities:
Purchase of property and equipment . . . .......... (116,064) (47,695) — (163,759)
Acquisitions, net of cash acquired............... — (8,357) (8,357)
Other ................................... (1,215) (13,915) — (15,130)
Net cash flows used in investing activities ......... (117,279) (69,967) — (187,246)
Cash flows from financing activities:
Repurchase of notes payable . . . ............... (100,000) — — (100,000)
Purchase of treasury shares ................... (58,380) — — (58,380)
Borrowings from the revolver . . . ............... 115,000 — — 115,000
Repayment of revolver borrowings .............. (115,000) — — (115,000)
Issuance of shares relating to stock options ........ 4,459 — — 4,459
Excess tax benefits (expense) realized from exercise
of stock-based awards . .................... (362) — — (362)
Other ................................... (106) (28) — (134)
Net cash flows used in financing activities ........ (154,389) (28) — (154,417)
Exchange rate effect on cash and cash equivalents. .... — 24,767 — 24,767
Net increase (decrease) in cash and cash equivalents . . . 279,787 47,490 — 327,277
Cash and cash equivalents at beginning of period . .... 373,178 204,963 — 578,141
Cash and cash equivalents at end of period .......... $652,965 $252,453 $ — $ 905,418
F-39
GAMESTOP CORP.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)