Neiman Marcus 2014 Annual Report Download - page 109
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Table of Contents
Net earnings (loss)
$ 14,949
$ (134,083)
$ (13,098)
$ 163,699
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:
Depreciation and amortization expense
347,390
279,077
48,425
197,355
Loss on debt extinguishment
—
7,882
—
15,597
Deferred income taxes
(69,736)
(117,874)
(6,326)
(19,439)
Non-cash charges related to acquisitions
13,994
145,062
—
—
Other
2,791
8,544
6,525
18,758
309,388
188,608
35,526
375,970
Changes in operating assets and liabilities, excluding net assets acquired:
Merchandise inventories
(52,641)
88,832
(142,417)
(79,022)
Other current assets
(17,314)
74,480
12,111
27,664
Other assets
(7,415)
2,554
(1,484)
2,495
Accounts payable and accrued liabilities
(45,756)
(57,638)
107,091
42,604
Deferred real estate credits
42,123
3,172
1,484
4,697
Payment of deferred compensation in connection with the Acquisition
—
(16,623)
—
—
Funding of defined benefit pension plan
—
—
—
(25,049)
228,385
283,385
12,311
349,359
Capital expenditures
(270,468)
(138,007)
(35,959)
(146,505)
Acquisition of Neiman Marcus Group LTD LLC
—
(3,388,585)
—
—
Acquisition of MyTheresa
(181,727)
—
—
—
Investment in Asian e-commerce retailer
—
35,000
—
(10,000)
(452,195)
(3,491,592)
(35,959)
(156,505)
Borrowings under senior secured asset-based revolving credit facility
530,000
170,000
—
—
Repayment of borrowings under senior secured asset-based revolving credit facility
(400,000)
(170,000)
—
—
Borrowings under senior secured term loan facility
—
2,950,000
—
—
Repayment of borrowings under senior secured term loan facility
(29,427)
(22,089)
—
—
Borrowings under former senior secured asset-based revolving credit facility
—
—
130,000
100,000
Repayment of borrowings under former senior secured asset-based revolving credit
facility
—
(145,000)
—
(185,000)
Borrowings under former senior secured term loan facility
—
—
—
500,000
Repayment of borrowings under former senior secured term loan facility
—
(2,433,096)
(126,904)
—
Repayment of borrowings under senior subordinated notes
—
—
—
(510,668)
Borrowings under cash pay notes
—
960,000
—
—
Borrowings under PIK toggle notes
—
600,000
—
—
Debt issuance costs paid
(265)
(178,606)
—
(9,763)
Cash equity contributions
—
1,557,350
—
—
100,308
3,288,559
3,096
(105,431)
Increase (decrease) during the period
(123,502)
80,352
(20,552)
87,423
Beginning balance
196,476
116,124
136,676
49,253
$ 72,974
$ 196,476
$ 116,124
$ 136,676
Cash paid (received) during the period for:
Interest
$ 267,368
$ 159,335
$ 40,789
$ 153,131
Income taxes
$ 85,203
$ (6,769)
$ 7,544
$ 111,085
Non-cash activities: