Radio Shack 2011 Annual Report Download - page 50

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42
RADIOSHACK CORPORATION AND SUBSIDIARIES
Consolidated Statements of Cash Flows
Year Ended December 31,
(In millions) 2011 2010 2009
Cash flows from operating activities:
Net income $ 72.2 $ 206.1 $ 205.0
Adjustments to reconcile net income to net cash
provided by operating activities:
Depreciation and amortization 83.1 84.2 92.9
Amortization of discounts on long-term debt 16.3 15.0 13.8
Impairment of long-lived assets 3.1 4.0 1.5
Stock-based compensation 5.4 9.9 12.1
Deferred income taxes 35.2 12.0 7.6
Other non-cash items 3.9 12.7 0.8
Changes in operating assets and liabilities:
Accounts and notes receivable 15.6 (39.9) (79.6)
Inventories (24.1) (60.4) (34.7)
Other current assets (11.4) (3.6) (2.8)
Accounts payable, accrued expenses, income taxes payable and other 18.6 (85.0) 29.2
Net cash provided by operating activities 217.9 155.0 245.8
Cash flows from investing activities:
Additions to property, plant and equipment (82.1) (80.1) (81.0)
Other investing activities 2.0 0.1 0.2
Net cash used in investing activities (80.1) (80.0) (80.8)
Cash flows from financing activities:
Issuance of long-term notes 322.5 -- --
Long-term notes issuance costs (7.1) -- --
Repayments of borrowings (306.8) -- (43.2)
Purchases of treasury stock (113.3) (398.8) --
Payments of dividends (49.6) (26.5) (31.3)
Changes in cash overdrafts 32.8 7.5 2.2
Proceeds from exercise of stock options 6.0 4.0 0.7
Net cash used in financing activities (115.5) (413.8) (71.6)
Net increase (decrease) in cash and cash equivalents 22.3 (338.8) 93.4
Cash and cash equivalents, beginning of period 569.4 908.2 814.8
Cash and cash equivalents, end of period $ 591.7 $ 569.4 $ 908.2
Supplemental cash flow information:
Interest paid $ 29.2 $ 26.6 $ 30.3
Income taxes paid 47.1 136.7 122.4
The accompanying notes are an integral part of these consolidated financial statements.