Rite Aid 2015 Annual Report Download - page 45

Cash used in financing activities was $85.8 million in fiscal 2015, which reflects proceeds from the
issuance of our $1,152.3 million Tranche 7 Term Loan due 2020 (‘‘Tranche 7 Term Loan’’), net proceeds
from our revolver of $1,325.0 million (which includes borrowings for the repayment and retirement of
our $1,143.7 million Tranche 7 Term Loan), the repayment of our $1,152.3 million Tranche 6 Term
Loan due 2020 and the redemption of $270.0 million of our 10.25% Senior Secured Notes due 2019.
We also made scheduled payments of $21.1 million on our capital lease obligations and $8.6 million on
our Tranche 7 Term Loan. Additionally, we paid an early redemption premium of $13.8 million in
connection with the redemption of our 10.25% Senior Secured Notes due 2019 and deferred financing
costs of $1.5 million and $18.8 million in connection with our Tranche 7 Term Loan due 2020 and
January 2015 Senior Secured Credit Facility refinancing, respectively. Cash provided by financing
activities also reflects proceeds from the issuance of common stock and excess tax benefit on stock
options and an increase in our zero balance bank accounts.
Cash used in financing activities was $320.2 million in fiscal 2014, which reflects financing fees of
$45.6 million paid for early debt retirement and deferred financing costs of $17.9 million paid in
connection with the issuance of our $500.0 million Tranche 2 Term Loan and $810.0 million of our
6.75% senior notes due 2021 and the corresponding retirement of $500.0 million of our 7.5% senior
secured notes due 2017 and $810.0 million of our 9.5% senior notes due 2017. We also made scheduled
payments of $21.7 million and $8.7 million on our capital lease obligations and our Tranche 6 Term
Loan and we used cash of $21.0 million to repurchase the RALMCO Cumulative Preferred Stock
described above. Also included in cash used in financing activities was a cash inflow of $26.7 million
relating to the excess tax benefit on stock option exercises and restricted stock vesting, which is
completely offset by a cash outflow in cash provided by operating activities.
Cash used in financing activities was $506.1 million in fiscal 2013 and was primarily due to the
issuance of our $1,161.0 million Tranche 6 Term Loan due 2020, $470.0 million Tranche 1 Term Loan
due 2020 and $426.3 million of our 9.25% Senior Notes due 2020, along with borrowings under our
revolving credit facility of $685.0 million. Proceeds from these issuances were used to repay our
$1,036.3 million Tranche 2 Term Loan due 2014, $470.0 million of our 10.375% Senior Secured Notes
due 2016, $410.0 million of our 9.750% Senior Secured Notes due 2016, our $330.9 million
Tranche 5 Term Loan due 2018, $405.0 million of our 9.375% Senior Notes due 2015, $54.2 million of
our 8.625% Senior Notes due 2015, $6.0 million of our 9.25% Senior Notes due 2013. We also made
scheduled payments of $18.5 million and $9.0 million of our capital lease obligations and our Tranche 2
and Tranche 5 Term Loans, respectively. Additionally, we incurred financing fees for early debt
retirement of $75.4 million and cash paid for deferred financing costs of $54.8 million in connection
with the above transactions.
Capital Expenditures
During the fiscal years ended February 28, 2015, March 1, 2014, and March 2, 2013 capital
expenditures were as follows:
Year Ended
February 28, March 1, March 2,
2015 2014 2013
(52 weeks) (52 weeks) (52 weeks)
New store construction, store relocation and store remodel projects . $280,679 $218,454 $200,101
Technology enhancements, improvements to distribution centers and
other corporate requirements ........................... 146,149 115,416 115,745
Purchase of prescription files from other retail pharmacies ....... 112,558 87,353 67,134
Total capital expenditures ............................... $539,386 $421,223 $382,980
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