GameStop 2010 Annual Report Download - page 108

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Table of Contents
GAMESTOP CORP.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
GAMESTOP CORP.
CONSOLIDATING STATEMENT OF CASH FLOWS
Issuers and
Guarantor Non-Guarantor
Subsidiaries Subsidiaries Consolidated
January 29, January 29, January 29,
For the 52 Weeks Ended January 29, 2011 2011 2011 Eliminations 2011
(Amounts in millions)
Cash flows from operating activities:
Consolidated net income $ 365.4 $ 41.4 $ — $ 406.8
Adjustments to reconcile net earnings to net cash flows provided by operating
activities:
Depreciation and amortization (including amounts in cost of sales) 116.8 60.0 — 176.8
Provision for inventory reserves 18.8 8.7 — 27.5
Amortization and retirement of deferred financing fees and issue discounts 5.0 — — 5.0
Stock-based compensation expense 29.6 — — 29.6
Deferred income taxes 41.8 (3.6) — 38.2
Excess tax (benefits) expense realized from exercise of stock-based awards (18.6) — — (18.6)
Loss on disposal of property and equipment 3.3 4.3 — 7.6
Changes in other long-term liabilities (6.4) (0.8) — (7.2)
Changes in operating assets and liabilities, net
Receivables, net (4.6) 4.8 — 0.2
Merchandise inventories (231.9) 4.7 — (227.2)
Prepaid expenses and other current assets (7.0) (3.5) — (10.5)
Prepaid income taxes and accrued income taxes payable 13.9 8.4 — 22.3
Accounts payable and accrued liabilities 138.7 2.0 — 140.7
Net cash flows provided by operating activities 464.8 126.4 — 591.2
Cash flows from investing activities:
Purchase of property and equipment (144.7) (52.9) — (197.6)
Acquisitions, net of cash acquired (38.1) — — (38.1)
Other (0.7) (3.7) — (4.4)
Net cash flows used in investing activities (183.5) (56.6) — (240.1)
Cash flows from financing activities:
Repurchase of notes payable (200.0) — — (200.0)
Purchase of treasury shares (381.2) — — (381.2)
Borrowings from the revolver 120.0 — — 120.0
Repayment of revolver borrowings (120.0) — — (120.0)
Issuance of shares relating to stock options 10.8 — — 10.8
Excess tax benefits (expense) realized from exercise of stock-based awards 18.6 — — 18.6
Other (3.8) — — (3.8)
Net cash flows used in financing activities (555.6) — — (555.6)
Exchange rate effect on cash and cash equivalents — 9.9 — 9.9
Net increase (decrease) in cash and cash equivalents (274.3) 79.7 — (194.6)
Cash and cash equivalents at beginning of period 653.0 252.4 — 905.4
Cash and cash equivalents at end of period $ 378.7 $ 332.1 $ — $ 710.8
F-38