Napa Auto Parts 2010 Annual Report Download - page 43
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Table of Contents
Net income $ 399,575 $ 475,417
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization 90,411 88,698
Excess tax (benefits) expense from share-based compensation 684 586
Gain on sale of property, plant, and equipment (3,757) (2,086)
Deferred income taxes 27,899 (40,023)
Share-based compensation 8,578 12,977
Changes in operating assets and liabilities:
Trade accounts receivable, net 69,258 (19,695)
Merchandise inventories, net 194,743 (20,709)
Trade accounts payable 49,947 (14,307)
Other long-term assets (28,506) 49,729
Other, net 36,466 (278)
445,723 54,892
Net cash provided by operating activities 845,298 530,309
Purchases of property, plant and equipment (69,445) (105,026)
Proceeds from sale of property, plant, and equipment 12,042 11,721
Acquisition of businesses and other investments (134,203) (133,604)
Proceeds from disposal of businesses — 12,575
Purchase of properties under construction and lease agreement (72,814) —
Net cash used in investing activities (264,420) (214,334)
Proceeds from debt 795,000 1,283,000
Payments on debt (795,000) (1,283,000)
Stock options exercised 1,878 821
Excess tax benefits (expense) from share-based compensation (684) (586)
Dividends paid (253,558) (251,808)
Purchase of stock (26,019) (273,000)
Changes in cash overdraft position (52,000) 52,000
Net cash used in financing activities (330,383) (472,573)
Effect of exchange rate changes on cash 18,531 (7,462)
Net increase (decrease) in cash and cash equivalents 269,026 (164,060)
Cash and cash equivalents at beginning of year 67,777 231,837
Cash and cash equivalents at end of year $ 336,803 $ 67,777
Cash paid during the year for:
Income taxes $ 219,888 $ 338,859
Interest $ 27,626 $ 31,297
See accompanying notes.
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