GameStop 2010 Annual Report Download - page 109

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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 30, January 30, January 30,
For the 52 Weeks Ended January 30, 2010 2010 2010 Eliminations 2010
(Amounts in millions)
Cash flows from operating activities:
Consolidated net income $ 338.7 $ 37.0 $ — $ 375.7
Adjustments to reconcile net earnings to net cash flows provided by operating
activities:
Depreciation and amortization (including amounts in cost of sales) 103.5 60.6 — 164.1
Provision for inventory reserves 35.4 13.5 — 48.9
Amortization and retirement of deferred financing fees and issue discounts 5.0 — — 5.0
Stock-based compensation expense 37.8 — — 37.8
Deferred income taxes 1.7 (2.9) — (1.2)
Excess tax (benefits) expense realized from exercise of stock-based awards 0.4 — — 0.4
Loss on disposal of property and equipment 2.1 2.3 — 4.4
Changes in other long-term liabilities 8.6 (1.0) — 7.6
Changes in operating assets and liabilities, net
Receivables, net 1.4 2.8 — 4.2
Merchandise inventories 31.6 (2.0) — 29.6
Prepaid expenses and other current assets 3.4 (1.1) — 2.3
Prepaid income taxes and accrued income taxes payable 68.9 (14.3) — 54.6
Accounts payable and accrued liabilities (87.0) (2.2) — (89.2)
Net cash flows provided by operating activities 551.5 92.7 — 644.2
Cash flows from investing activities:
Purchase of property and equipment (116.1) (47.7) — (163.8)
Acquisitions, net of cash acquired — (8.4) — (8.4)
Other (1.2) (13.8) — (15.0)
Net cash flows used in investing activities (117.3) (69.9) — (187.2)
Cash flows from financing activities:
Repurchase of notes payable (100.0) — — (100.0)
Purchase of treasury shares (58.4) — — (58.4)
Borrowings from the revolver 115.0 — — 115.0
Repayment of revolver borrowings (115.0) — — (115.0)
Issuance of shares relating to stock options 4.5 — — 4.5
Excess tax benefits (expense) realized from exercise of stock-based awards (0.4) — — (0.4)
Other (0.1) — — (0.1)
Net cash flows used in financing activities (154.4) — — (154.4)
Exchange rate effect on cash and cash equivalents — 24.7 — 24.7
Net increase in cash and cash equivalents 279.8 47.5 — 327.3
Cash and cash equivalents at beginning of period 373.2 204.9 — 578.1
Cash and cash equivalents at end of period $ 653.0 $ 252.4 $ — $ 905.4
F-39