GameStop 2009 Annual Report Download - page 109

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GAMESTOP CORP.
CONSOLIDATING STATEMENT OF CASH FLOWS
For the 52 Weeks Ended February 2, 2008
Issuers and
Guarantor
Subsidiaries
February 2,
2008
Non-Guarantor
Subsidiaries
February 2,
2008 Eliminations
Consolidated
February 2,
2008
(Amounts in thousands)
Cash flows from operating activities:
Consolidated net income ...................... $235,274 $ 53,017 $ — $ 288,291
Adjustments to reconcile net earnings to net cash
flows provided by operating activities:
Depreciation and amortization (including amounts
in cost of sales) ......................... 100,961 30,316 — 131,277
Provision for inventory reserves ............... 44,728 7,151 — 51,879
Amortization and retirement of deferred financing
fees and issue discounts ................... 6,831 — — 6,831
Stock-based compensation expense . ........... 26,911 — — 26,911
Deferred income taxes ...................... (4,387) (8,764) — (13,151)
Excess tax benefits realized from exercise of stock-
based awards ........................... (93,322) — — (93,322)
Loss on disposal of property and equipment ...... 1,960 6,245 — 8,205
Changes in other long-term liabilities ........... 9,670 4,351 — 14,021
Change in the value of foreign exchange
contracts .............................. (6,688) (1,887) — (8,575)
Changes in operating assets and liabilities, net
Receivables, net ......................... (8,145) (11,758) — (19,903)
Merchandise inventories ................... (51,452) (92,073) — (143,525)
Prepaid expenses and other current assets ...... (6,265) 2,675 — (3,590)
Prepaid income taxes and accrued income taxes
payable ............................. 104,502 16,512 — 121,014
Accounts payable and accrued liabilities ....... (26,230) 153,913 — 127,683
Net cash flows provided by operating activities . . 334,348 159,698 — 494,046
Cash flows from investing activities:
Purchase of property and equipment . . ........... (123,258) (52,311) — (175,569)
Acquisitions, net of cash acquired ............... 1,061 — 1,061
Other .................................... 899 (3,015) — (2,116)
Net cash flows used in investing activities ......... (121,298) (55,326) — (176,624)
Cash flows from financing activities:
Repurchase of notes payable ................... (270,000) — — (270,000)
Repayments of acquisition borrowings . ........... (12,173) — — (12,173)
Issuance of shares relating to stock options ........ 64,883 — — 64,883
Excess tax benefits realized from exercise of stock-
based awards ............................. 93,322 — — 93,322
Other .................................... (263) — — (263)
Net cash flows used in financing activities ......... (124,231) — — (124,231)
Exchange rate effect on cash and cash equivalents ..... — 11,820 — 11,820
Net increase in cash and cash equivalents ........... 88,819 116,192 — 205,011
Cash and cash equivalents at beginning of period...... 582,514 69,889 — 652,403
Cash and cash equivalents at end of period .......... $671,333 $186,081 $ — $ 857,414
F-41
GAMESTOP CORP.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)