Radio Shack 2010 Annual Report Download - page 54

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44
RADIOSHACK CORPORATION AND SUBSIDIARIES
Consolidated Statements of Cash Flows
Year Ended December 31,
(In millions) 2010 2009 2008
Cash flows from operating activities:
Net income $ 206.1
$ 205.0
$ 189.4
Adjustments to reconcile net income to net cash
provided by operating activities:
Depreciation and amortization 84.2
92.9
99.1
Amortization of discount on convertible notes 15.0
13.8
5.0
Impairment of long-lived assets 4.0
1.5
2.8
Stock-based compensation 9.9
12.1
12.8
Deferred income taxes 12.0
7.6
11.7
Other non-cash items 12.7
0.8
18.7
Changes in operating assets and liabilities:
Accounts and notes receivable (39.9)
(79.6)
15.2
Inventories (60.4)
(34.7)
93.6
Other current assets (3.6)
(2.8)
(8.7)
Accounts payable, accrued expenses, income taxes payable and other (85.0)
29.2
(165.0)
Net cash provided by operating activities 155.0
245.8
274.6
Cash flows from investing activities:
Additions to property, plant and equipment (80.1)
(81.0)
(85.6)
Acquisition of Mexican subsidiary, net of cash acquired --
(0.2)
(42.0)
Other investing activities 0.1
0.4
3.3
Net cash used in investing activities (80.0)
(80.8)
(124.3)
Cash flows from financing activities:
Purchases of treasury stock (398.8) -- (111.3)
Payments of dividends (26.5)
(31.3)
(31.3)
Changes in cash overdrafts 7.5
2.2
(16.8)
Proceeds from exercise of stock options 4.0
0.7
--
Repayments of borrowings --
(43.2)
(5.0)
Issuance of convertible notes -- -- 375.0
Convertible notes issuance costs -- -- (9.4)
Purchase of convertible notes hedges -- -- (86.3)
Sale of common stock warrants -- -- 39.9
Net cash (used in) provided by financing activities (413.8)
(71.6)
154.8
Net (decrease) increase in cash and cash equivalents (338.8)
93.4
305.1
Cash and cash equivalents, beginning of period 908.2
814.8
509.7
Cash and cash equivalents, end of period $ 569.4
$ 908.2
$ 814.8
Supplemental cash flow information:
Interest paid $ 26.6
$ 30.3
$ 26.5
Income taxes paid 136.7
122.4
123.2
The accompanying notes are an integral part of these consolidated financial statements.