Pier 1 2007 Annual Report Download - page 63

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CONSOLIDATING CONDENSED STATEMENT OF CASH FLOW
Year Ended February 25, 2006
(In thousands)
Pier 1
Imports, Inc.
Guarantor
Subsidiaries
Non-Guarantor
Subsidiaries(1) Eliminations Total(1)
Cash flow from operating activities:
Net cash provided by (used in)
operating activities .............. $ 3,029 $ (60,152) $ 16,443 $(23,617) $ (64,297)
Cash flow from investing activities:
Capital expenditures ............. — (46,229) (4,750) — (50,979)
Proceeds from disposition of
properties ................... — 1,401 — — 1,401
Proceeds from the sale of restricted
investments.................. — 3,226 — — 3,226
Purchase of restricted investments . . . — (3,500) — — (3,500)
Collections of principal on beneficial
interest in securitized receivables. . — 60,240 — — 60,240
Investment in subsidiaries ......... — (9,889) — 9,889 —
Net cash provided by (used in)
investing activities .............. — 5,249 (4,750) 9,889 10,388
Cash flow from financing activities:
Cash dividends ................. (34,667) (50) (23,567) 23,617 (34,667)
Purchases of treasury stock ........ (4,047) — — — (4,047)
Proceeds from stock options
exercised, stock purchase plan and
other, net ................... 7,641 — — — 7,641
Issuance of long-term debt ........ 165,000 — — — 165,000
Notes payable borrowings ......... — 86,500 — — 86,500
Repayments of notes payable ...... — (86,500) — — (86,500)
Debt issuance costs ............. (5,369) (1,370) — — (6,739)
Purchase of call option ........... (9,145) — — — (9,145)
Contributions from parent ......... — — 9,889 (9,889) —
Advances from (to) subsidiaries . . . . 7,855 (450) (7,405) — —
Net cash provided by (used in)
financing activities .............. 127,268 (1,870) (21,083) 13,728 118,043
Change in cash and cash equivalents . . . 130,297 (56,773) (9,390) — 64,134
Cash and cash equivalents at beginning
of period ..................... 482 157,542 31,057 — 189,081
Cash and cash equivalents at end of
period ....................... $130,779 $100,769 $ 21,667 $ — $253,215
(1) Includes cash at discontinued operation of $3,359 at beginning of period and $7,100 at end of period.
61
Pier 1 Imports, Inc.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)