Radio Shack 2013 Annual Report Download - page 42

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40
RADIOSHACK CORPORATION AND SUBSIDIARIES
Consolidated Statements of Cash Flows
Year Ended December 31,
(In millions) 2013 2012
2011
Cash flows from operating activities:
Net (loss) income $ (400.2) $ (139.4) $ 72.2
Adjustments to reconcile net (loss) income to net cash
provided by (used in) operating activities:
Depreciation and amortization 71.6 80.7 83.1
Amortization of discounts on long-term debt 7.3 16.3 16.3
Impairment of long-lived assets and goodwill 47.4 21.4 3.1
Stock-based compensation 7.2 7.1 5.4
Deferred income taxes 3.9 68.9 35.2
Other non-cash items 12.2 4.9 0.1
Changes in assets and liabilities:
Accounts and notes receivable 241.9 (93.9) 15.6
Inventories 105.9 (161.6) (24.1)
Other current assets (34.1) 29.2 (11.4)
Accounts payable 48.0 58.5 46.2
Accrued expenses and other liabilities (52.1) (23.8) (23.2)
Liability for unrecognized tax benefits and accrued interest (17.6) 101.2 3.8
Other (5.6) (12.5) (4.4)
Net cash provided by (used in) operating activities 35.8 (43.0) 217.9
Cash flows from investing activities:
Additions to property, plant and equipment (42.3) (67.8) (82.1)
Proceeds from sale of property, plant and equipment 6.5 -- --
Changes in restricted cash (39.5) (26.5) --
Other investing activities (2.9) 0.1 2.0
Net cash used in investing activities (78.2) (94.2) (80.1)
Cash flows from financing activities:
Principal amount of long-term debt repayments (461.9) (88.1) (306.8)
Net proceeds from issuance of long-term debt 289.2 175.0 322.5
Payments of debt issuance costs (32.5) (7.3) (7.1)
Changes in cash overdrafts (108.3) 26.5 32.8
Payments of dividends -- (24.9) (49.6)
Purchases of treasury stock -- -- (113.3)
Proceeds from exercise of stock options -- -- 6.0
Net cash (used in) provided by financing activities (313.5) 81.2 (115.5)
Net (decrease) increase in cash and cash equivalents (355.9) (56.0) 22.3
Cash and cash equivalents, beginning of period 535.7 591.7 569.4
Cash and cash equivalents, end of period $ 179.8 $ 535.7 $ 591.7
Supplemental cash flow information:
Non-cash additions to property, plant and equipment $ 5.4 $ 1.0 $ 2.7
Interest paid $ 47.7 $ 38.2 $ 29.2
Cash payments made for income taxes $ 6.5 $ 5.5 $ 47.1
Income tax refunds received (66.3) (118.6) (2.1)
Cash tax (refunds) payments, net $ (59.8) $ (113.1) $ 45.0
The accompanying notes are an integral part of these consolidated financial statements.