Neiman Marcus 2007 Annual Report Download - page 138
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Table of Contents
Fiscal year ended August 2, 2008 (Successor)
(in thousands) Company NMG
Non-
Guarantor
Subsidiaries Eliminations Consolidated
CASH FLOWS—OPERATING
ACTIVITIES
Net earnings (loss) $ 142,813 $ 142,813 $ 350,625 $ (493,438) $ 142,813
Adjustments to reconcile net earnings to net cash
provided by operating activities:
Depreciation and amortization expense — 204,389 30,431 — 234,820
Deferred income taxes — (44,627) — — (44,627)
Impairment of Horchow tradename — — 31,261 — 31,261
Gain on curtailment of defined benefit
retirement obligations — (32,450) — — (32,450)
Other, primarily costs related to defined
benefit pension and other long-term benefit
plans — 21,677 320 — 21,997
Intercompany royalty income payable
(receivable) — 273,584 (273,584) — —
Equity in earnings of subsidiaries (142,813) (350,625) — 493,438 —
Changes in operating assets and liabilities, net — 60,247 (128,736)— (68,489)
Net cash provided by operating activities — 275,008 10,317 — 285,325
CASH FLOWS—INVESTING ACTIVITIES
Capital expenditures — (172,237) (11,215) — (183,452)
Purchases of short-term investments — (10,000) — — (10,000)
Sales of short-term investments — 10,000 — — 10,000
Net cash used for investing activities — (172,237)(11,215)— (183,452)
CASH FLOWS—FINANCING ACTIVITIES
Repayment of borrowings — (3,900)— — (3,900)
Net cash used for financing activities — (3,900)— — (3,900)
CASH AND CASH EQUIVALENTS
Increase (decrease) during the period — 98,871 (898) — 97,973
Beginning balance — 139,333 1,874 — 141,207
Ending balance $ — $ 238,204 $ 976 $ — $ 239,180
F-52