Radio Shack 2012 Annual Report Download - page 46

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44
RADIOSHACK CORPORATION AND SUBSIDIARIES
Consolidated Statements of Cash Flows
Year Ended December 31,
(In millions) 2012 2011 2010
Cash flows from operating activities:
Net (loss) income $ (139.4) $ 72.2 $ 206.1
Adjustments to reconcile net (loss) income to net cash
(used in) provided by operating activities:
Depreciation and amortization 80.7 83.1 84.2
Amortization of discounts on long-term debt 16.3 16.3 15.0
Impairment of long-lived assets and goodwill 21.4 3.1 4.0
Stock-based compensation 7.1 5.4 9.9
Deferred income taxes 68.9 35.2 12.0
Other non-cash items 4.9 0.1 11.1
Changes in assets and liabilities:
Accounts and notes receivable (93.9) 15.6 (39.9)
Inventories (161.6) (24.1) (60.4)
Other current assets 29.2 (11.4) (3.6)
Accounts payable 58.5 46.2 (7.0)
Accrued expenses and other liabilities (23.8) (23.2) (72.8)
Liability for unrecognized tax benefits 101.2 3.8 1.6
Other (12.5) (4.4) (5.2)
Net cash (used in) provided by operating activities (43.0) 217.9 155.0
Cash flows from investing activities:
Additions to property, plant and equipment (67.8) (82.1) (80.1)
Changes in restricted cash (See Note 2) (26.5) -- --
Other investing activities 0.1 2.0 0.1
Net cash used in investing activities (94.2) (80.1) (80.0)
Cash flows from financing activities:
Net proceeds from issuance of long-term debt 175.0 322.5 --
Payments of debt issuance costs (7.3) (7.1) --
Principal amount of long-term debt repayments (88.1) (306.8) --
Payments of dividends (24.9) (49.6) (26.5)
Changes in cash overdrafts 26.5 32.8 7.5
Purchases of treasury stock -- (113.3) (398.8)
Proceeds from exercise of stock options -- 6.0 4.0
Net cash provided by (used in) financing activities 81.2 (115.5) (413.8)
Net (decrease) increase in cash and cash equivalents (56.0) 22.3 (338.8)
Cash and cash equivalents, beginning of period 591.7 569.4 908.2
Cash and cash equivalents, end of period $ 535.7 $ 591.7 $ 569.4
Supplemental cash flow information:
Interest paid $ 38.2 $ 29.2 $ 26.6
Cash payments made for income taxes $ 5.5 $ 47.1 $ 136.7
Income tax refunds received (118.6) (2.1) (0.7)
Cash tax (refunds) payments, net $ (113.1) $ 45.0 $ 136.0
The accompanying notes are an integral part of these consolidated financial statements.