Neiman Marcus 2005 Annual Report Download - page 140

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Year ended July 31, 2004 (Predecessor)
(in thousands) NMG
Non-
Guarantor
Subsidiaries Eliminations Consolidated
CASH FLOWS—OPERATING ACTIVITIES
Net earnings (loss) $ 204,832 $ 263,178 $ (263,178 ) $ 204,832
(Earnings) loss from discontinued operation — (1,242 ) 592 (650
Adjustments to reconcile net earnings to net cash provided by operating
activities:
Depreciation 77,659 20,392 — 98,051
Deferred income taxes 22,969 — — 22,969
Impairment of intangible assets and other charges — 3,853 — 3,853
Minority Interest — — 2,957 2,957
Other, primarily costs related to defined benefit pension and other
long-term benefit plans 34,562 (682 ) — 33,880
Intercompany royalty income payable (receivable) 164,994 (164,994 ) — —
Equity in earnings of subsidiaries (259,791 ) — 259,791 —
Changes in operating assets and liabilities, net 3,564 (317,431 )(162 )(314,029
Net cash provided by (used for) continuing operating activities 248,789 (196,926 ) — 51,863
Net cash provided by discontinued operation — 709 — 709
Net cash provided by (used for) operating activities 248,789 (196,217 )— 52,572
CASH FLOWS—INVESTING ACTIVITIES
Capital expenditures (94,591 ) (24,478 ) — (119,069
Proceeds from sale of other assets 3,183 — — 3,183
Net cash used for continuing investing activities (91,408 ) (24,478 ) — (115,886
Net cash used for discontinued operation — (1,404 )— (1,404
Net cash used for investing activities (91,408 )(25,882 )— (117,290
CASH FLOWS—FINANCING ACTIVITIES
Repayment of borrowings under Credit Card Facility — 225,000 — 225,000
Acquisitions of treasury stock (7,553 ) — — (7,553
Proceeds from stock-based compensation awards 23,797 — — 23,797
Cash dividends paid (12,632 ) — — (12,632
Distributions paid — (3,172 )— (3,172
Net cash provided by continuing financing activities 3,612 221,828 — 225,440
Net cash provided by discontinued operation — 695 — 695
Net cash provided by financing activities 3,612 222,523 — 226,135
CASH AND CASH EQUIVALENTS
Increase during the period 160,993 424 — 161,417
Beginning balance 202,070 4,880 — 206,950
Ending balance $ 363,063 $ 5,304 $ — $ 368,367
F-56