Neiman Marcus 2005 Annual Report Download - page 137

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Forty-three weeks ended July 29, 2006 (Successor)
(in thousands) Company NMG
Non-
Guarantor
Subsidiaries Eliminations Consolidated
CASH FLOWS—OPERATING ACTIVITIES
Net earnings (loss) $ 12,455 $ 12,455 $ 245,749 $ (258,204 ) $ 12,455
Loss (earnings) from discontinued operation — — 14,317 (462 ) 13,855
Adjustments to reconcile net earnings to net cash
provided by operating activities:
Depreciation — 89,545 21,541 — 111,086
Amortization of debt issue costs — 11,728 — — 11,728
Amortization of customer lists and favorable lease
commitments — 49,830 10,335 — 60,165
Non-cash charges related to step-up in carrying value
of inventory — 32,890 5,177 — 38,067
Stock-based compensation charges — 3,951 — — 3,951
Deferred income taxes — (65,939 ) — — (65,939
Minority interest — — — 204 204
Other, primarily costs related to defined benefit
pension and other long-term benefit plans — 14,438 877 — 15,315
Intercompany royalty income payable (receivable) — 201,878 (201,878 ) —
Equity in earnings of subsidiaries (12,455 ) (246,686 ) — 259,141
Changes in operating assets and liabilities, net — 254,617 (64,819 )(679 )189,119
Net cash provided by continuing operating activities — 358,707 31,299 — 390,006
Net cash used for discontinued operation — — (9,241 )— (9,241
Net cash provided by operating activities — 358,707 22,058 — 380,765
CASH FLOWS—INVESTING ACTIVITIES
Capital expenditures — (126,546 ) (14,444 ) — (140,990
Acquisition of The Neiman Marcus Group, Inc. — (5,156,423 ) — — (5,156,423
Net proceeds from the Gurwitch Disposition — 40,752 — — 40,752
Intercompany (receivable) payable (1,427,739 )— — 1,427,739
Net cash (used for) provided by continuing investing
activities (1,427,739 ) (5,242,217 ) (14,444 ) 1,427,739 (5,256,661
Net cash used for discontinued operation — — (3,141 )— (3,141
Net cash (used for) provided by investing activities (1,427,739 )(5,242,217 )(17,585 )1,427,739 (5,259,802
CASH FLOWS—FINANCING ACTIVITIES
Proceeds from borrowings — 3,325,000 15,250 — 3,340,250
Repayment of borrowings — (385,812 ) (17,000 ) — (402,812
Debt issuance costs paid — (102,854 ) — — (102,854
Cash equity contributions 1,427,739 1,427,739 — (1,427,739 )1,427,739
Net cash provided by (used for) continuing financing
activities 1,427,739 4,264,073 (1,750 ) (1,427,739 ) 4,262,323
Net cash used for discontinued operation — — (2,418 )— (2,418
Net cash provided by (used for) financing activities 1,427,739 4,264,073 (4,168 )(1,427,739 )4,259,905
CASH AND CASH EQUIVALENTS
(Decrease) increase during the period — (619,437 ) 305 — (619,132
Beginning balance — 841,745 2,150 — 843,895
Ending balance $ — $ 222,308 $ 2,455 $ — $ 224,763
F-53