GameStop 2012 Annual Report Download - page 83

Download and view the complete annual report

Please find page 83 of the 2012 GameStop annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 123

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123

GAMESTOP CORP.
CONSOLIDATED STATEMENTS OF CASH FLOWS
53 Weeks
Ended
February 2,
2013
52 Weeks
Ended
January 28,
2012
52 Weeks
Ended
January 29,
2011
(In millions)
Cash flows from operating activities:
Consolidated net income (loss) .................................. $(269.8) $ 338.5 $ 406.8
Adjustments to reconcile net income (loss) to net cash flows provided by
operating activities:
Depreciation and amortization (including amounts in cost of sales) . . . 178.9 188.6 176.8
Provision for inventory reserves ............................... 43.1 31.3 27.5
Goodwill impairments, asset impairments and restructuring charges . . 680.7 81.2 1.5
Amortization and retirement of deferred financing fees and issue
discounts ............................................... 1.2 3.1 5.0
Stock-based compensation expense ............................ 19.6 18.8 29.6
Deferred income taxes ...................................... (58.2) (25.2) 38.2
Excess tax benefits realized from exercise of stock-based awards .... (1.3) (1.4) (18.6)
Loss on disposal of property and equipment ..................... 13.0 10.9 6.1
Changes in other long-term liabilities .......................... (4.7) 3.8 (7.2)
Changes in operating assets and liabilities, net:
Receivables, net ......................................... (8.1) 1.0 0.2
Merchandise inventories ................................... (63.8) 64.3 (227.2)
Prepaid expenses and other current assets ..................... 27.8 (3.3) (10.5)
Prepaid income taxes and income taxes payable ................ 25.9 17.6 22.3
Accounts payable and accrued liabilities ...................... 48.1 (104.5) 140.7
Net cash flows provided by operating activities ................. 632.4 624.7 591.2
Cash flows from investing activities:
Purchase of property and equipment ............................. (139.6) (165.1) (197.6)
Acquisitions, net of cash acquired ............................... (1.5) (30.1) (38.1)
Other ...................................................... (11.6) (6.4) (4.4)
Net cash flows used in investing activities ......................... (152.7) (201.6) (240.1)
Cash flows from financing activities:
Repurchase of notes payable ................................... — (250.0) (200.0)
Purchase of treasury shares ..................................... (409.4) (262.1) (381.2)
Dividends paid .............................................. (102.0) — —
Borrowings from the revolver .................................. 81.0 35.0 120.0
Repayments of revolver borrowings .............................. (81.0) (35.0) (120.0)
Issuance of shares relating to stock options ........................ 11.6 18.1 10.8
Excess tax benefits realized from exercise of stock-based awards ...... 1.3 1.4 18.6
Other ...................................................... — — (3.8)
Net cash flows used in financing activities ........................ (498.5) (492.6) (555.6)
Exchange rate effect on cash and cash equivalents .................. (0.4) 13.7 9.9
Net decrease in cash and cash equivalents ......................... (19.2) (55.8) (194.6)
Cash and cash equivalents at beginning of period ..................... 655.0 710.8 905.4
Cash and cash equivalents at end of period .......................... $635.8 $ 655.0 $ 710.8
See accompanying notes to consolidated financial statements.
F-8