Lumber Liquidators 2015 Annual Report Download - page 63

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Lumber Liquidators Holdings, Inc.
Consolidated Statements of Cash Flows
(in thousands)
Year Ended December 31,
2015 2014 2013
Cash Flows from Operating Activities:
Net (Loss) Income .............................. $(56,433) $ 63,371 $ 77,395
Adjustments to Reconcile Net (Loss) Income to Net Cash
Provided by Operating Activities:
Depreciation and Amortization .................... 17,392 14,714 11,666
Deferred Income Taxes ......................... (12,064) (152) (846)
Stock-Based Compensation Expense ................ 3,941 5,593 5,974
Impairment Charges related to Property and Equipment . . . 4,392 — —
Inventory Lower of Cost or Market Adjustments ........ 26,162 — —
Deconsolidation of Variable Interest Entity ............ 1,457 — —
Changes in Operating Assets and Liabilities:
Merchandise Inventories ....................... 42,773 (62,140) (45,834)
Accounts Payable ........................... (21,450) 21,478 (15)
Customer Deposits and Store Credits .............. (1,075) 12,623 (3,354)
Prepaid Expenses and Other Current Assets .......... (18,385) (1,836) (257)
Other Assets and Liabilities ..................... 22,494 3,436 8,271
Net Cash Provided by Operating Activities .......... 9,204 57,087 53,000
Cash Flows from Investing Activities:
Purchases of Property and Equipment ................. (22,478) (71,138) (28,585)
Net Cash Used in Investing Activities .............. (22,478) (71,138) (28,585)
Cash Flows from Financing Activities:
Payments for Stock Repurchases ..................... (295) (53,310) (34,830)
Proceeds from the Exercise of Stock Options ............ — 3,150 10,255
Excess Tax Benefit from Stock-Based Compensation ....... — 4,004 17,132
Borrowings on Revolving Credit Facility ............... 39,000 53,000 —
Payments on Revolving Credit Facility ................ (19,000) (53,000) —
Net Cash Provided by (Used in) Financing Activities ... 19,705 (46,156) (7,443)
Effect of Exchange Rates on Cash and Cash Equivalents .... (15) (140) (505)
Net Increase (Decrease) in Cash and Cash Equivalents ..... 6,416 (60,347) 16,467
Cash and Cash Equivalents, Beginning of Year ........... 20,287 80,634 64,167
Cash and Cash Equivalents, End of Year ............... $ 26,703 $ 20,287 $ 80,634
See accompanying notes to consolidated financial statements
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