GameStop 2010 Annual Report Download - page 110

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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 31, January 31, January 31,
For the 52 Weeks Ended January 31, 2009 2009 2009 Eliminations 2009
(Amounts in millions)
Cash flows from operating activities:
Consolidated net income $ 335.7 $ 62.6 $ — $ 398.3
Adjustments to reconcile net earnings to net cash flows provided by (used in)
operating activities:
Depreciation and amortization (including amounts in cost of sales) 104.9 41.5 — 146.4
Provision for inventory reserves 34.9 8.1 — 43.0
Amortization and retirement of deferred financing fees and issue discounts 3.7 — — 3.7
Stock-based compensation expense 35.4 — — 35.4
Deferred income taxes (23.3) (1.4) — (24.7)
Excess tax benefits realized from exercise of stock-based awards (34.2) — — (34.2)
Loss on disposal of property and equipment 3.0 2.2 — 5.2
Changes in other long-term liabilities 1.1 6.3 — 7.4
Changes in operating assets and liabilities, net
Receivables, net 3.2 (648.5) 642.4 (2.9)
Merchandise inventories (170.3) (39.2) — (209.5)
Prepaid expenses and other current assets (10.1) (6.3) — (16.4)
Prepaid income taxes and accrued income taxes payable 47.8 (3.9) — 43.9
Accounts payable and accrued liabilities 768.1 27.9 (642.4) 153.6
Net cash flows provided by (used in) operating activities 1,099.9 (550.7) — 549.2
Cash flows from investing activities:
Purchase of property and equipment (117.5) (65.7) — (183.2)
Acquisitions, net of cash acquired — (630.7) — (630.7)
Other (1,310.2) 1,303.2 — (7.0)
Net cash flows provided by (used in) investing activities (1,427.7) 606.8 — (820.9)
Cash flows from financing activities:
Repurchase of notes payable (30.0) — — (30.0)
Borrowings for acquisition 425.0 — — 425.0
Repayments of acquisition borrowings (425.0) — — (425.0)
Issuance of shares relating to stock options 28.9 — — 28.9
Excess tax benefits realized from exercise of stock-based awards 34.2 — — 34.2
Other (3.5) — — (3.5)
Net cash flows provided by financing activities 29.6 — — 29.6
Exchange rate effect on cash and cash equivalents — (37.2) — (37.2)
Net increase (decrease) in cash and cash equivalents (298.2) 18.9 — (279.3)
Cash and cash equivalents at beginning of period 671.4 186.0 — 857.4
Cash and cash equivalents at end of period $ 373.2 $ 204.9 $ — $ 578.1
F-40