Pep Boys 2010 Annual Report Download - page 141
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Please find page 141 of the 2010 Pep Boys annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.THE PEP BOYS—MANNY, MOE & JACK AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Years ended January 29, 2011, January 30, 2010 and January 31, 2009
NOTE 19—SUPPLEMENTAL GUARANTOR INFORMATION (Continued)
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
(dollar amounts in thousands) Subsidiary Subsidiary Consolidation
January 30, 2010 Pep Boys Guarantors Non-Guarantors Elimination Consolidated
Cash flows from operating activities:
Net earnings (loss) ......................... $ 23,036 $ 53,582 $ 4,743 $(58,325) $ 23,036
Adjustments to reconcile net earnings (loss) to net cash
(used in) provided by continuing operations:
Net loss from discontinued operations ............. 37 1,040 — — 1,077
Depreciation and amortization .................. 25,405 44,815 682 (373) 70,529
Amortization of deferred gain from asset sales ........ (4,078) (8,620) — 373 (12,325)
Stock compensation expense ................... 2,575 — — — 2,575
Equity in earnings of subsidiaries ................ (58,325) — — 58,325 —
Gain on debt retirement ...................... (6,248) — — — (6,248)
Deferred income taxes ....................... 2,919 10,147 380 — 13,446
Gain from disposition of assets .................. (886) (327) — — (1,213)
Loss from asset impairments ................... 785 2,099 — — 2,884
Dividends received from subsidiary ............... 2,467 — — (2,467) —
Other .................................. 204 141 — — 345
Changes in operating assets and liabilities:
Decrease (increase) in accounts receivable, prepaid
expenses and other ........................ 8,232 520 (957) (620) 7,175
Decrease in merchandise inventories .............. 5,216 1,823 — — 7,039
Decrease in accounts payable ................... (9,640) — — — (9,640)
Decrease in accrued expenses .................. (5,303) (5,999) (2,556) 620 (13,238)
(Decrease) increase in other long-term liabilities ....... (790) 3,174 — — 2,384
Net cash (used in) provided by continuing operations . . . (14,394) 102,395 2,292 (2,467) 87,826
Net cash used in discontinued operations ........... (37) (566) — — (603)
Net cash (used in) provided by operating activities ..... (14,431) 101,829 2,292 (2,467) 87,223
Cash flows from investing activities:
Cash paid for property and equipment ............. (18,132) (25,082) — — (43,214)
Proceeds from disposition of assets ............... 4,845 9,931 — — 14,776
Acquisition of Florida Tire, Inc. ................. (2,695) — — — (2,695)
Other .................................. (500) — — — (500)
Net cash used in continuing operations ............. (16,482) (15,151) — — (31,633)
Net cash provided by discontinued operations ........ — 1,762 — — 1,762
Net cash used in investing activities ............... (16,482) (13,389) — — (29,871)
Cash flows from financing activities:
Borrowings under line of credit agreements .......... 88,237 161,467 — — 249,704
Payments under line of credit agreements ........... (96,669) (176,897) — — (273,566)
Borrowings on trade payable program liability ........ 192,324 — — — 192,324
Payments on trade payable program liability ......... (190,155) — — — (190,155)
Long-term debt and capital lease obligation payments . . . (11,930) (60) — — (11,990)
Intercompany borrowings (payments) .............. 67,872 (69,064) 1,192 — —
Dividends paid ............................ (6,286) — (2,467) 2,467 (6,286)
Other .................................. 611 — — — 611
Net cash provided by (used in) financing activities ...... 44,004 (84,554) (1,275) 2,467 (39,358)
Net increase in cash ......................... 13,091 3,886 1,017 — 17,994
Cash and cash equivalents at beginning of year ....... 12,753 6,393 2,186 — 21,332
Cash and cash equivalents at end of year ........... $ 25,844 $ 10,279 $ 3,203 $ — $ 39,326
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