Lumber Liquidators 2012 Annual Report Download - page 49

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Lumber Liquidators Holdings, Inc.
Consolidated Statements of Cash Flows
(in thousands)
Year Ended December 31,
2012 2011 2010
Cash Flows from Operating Activities:
Net Income ........................................................... $47,064 $ 26,256 $ 26,266
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:
Depreciation and Amortization ........................................ 9,957 8,328 5,773
Deferred Income Taxes .............................................. 160 2,402 4,300
Stock-Based Compensation Expense ................................... 3,997 4,005 3,091
Changes in Operating Assets and Liabilities:
Merchandise Inventories ......................................... (42,712) (9,197) (21,789)
Accounts Payable .............................................. 16,756 4,467 1,136
Customer Deposits and Store Credits ............................... 7,626 6,104 2,234
Prepaid Expenses and Other Current Assets .......................... (2,835) (1,943) (3,548)
Other Assets and Liabilities ...................................... 7,256 3,679 (487)
Net Cash Provided by Operating Activities ............................ 47,269 44,101 16,976
Cash Flows from Investing Activities:
Purchases of Property and Equipment ....................................... (13,376) (16,988) (20,535)
Cash Paid for Acquisition ................................................ — (4,725) —
Net Cash Used in Investing Activities ................................. (13,376) (21,713) (20,535)
Cash Flows from Financing Activities:
Payments for Stock Repurchases .......................................... (49,436) (249) (389)
Proceeds from the Exercise of Stock Options ................................. 10,454 3,070 1,796
Excess Tax Benefits on Stock Option Exercises ............................... 7,131 1,690 1,307
Net Cash (Used in) Provided by Financing Activities .................... (31,851) 4,511 2,714
Effect of Exchange Rates on Cash and Cash Equivalents ......................... 450 (54) —
Net Increase (Decrease) in Cash and Cash Equivalents .......................... 2,492 26,845 (845)
Cash and Cash Equivalents, Beginning of Year ................................. 61,675 34,830 35,675
Cash and Cash Equivalents, End of Year ...................................... $ 64,167 $ 61,675 $ 34,830
See accompanying notes to consolidated financial statements
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