Saks Fifth Avenue 2009 Annual Report Download - page 100

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Table of Contents
SAKS INCORPORATED & SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
FOR THE YEAR ENDED JANUARY 31, 2009
(In Thousands)
SAKS
INCORPORATED
(Revised)
GUARANTOR
SUBSIDIARIES
(Revised)
ELIMINATIONS
(Revised)
CONSOLIDATED
(Revised)
OPERATING ACTIVITIES
Net loss $ (158,804) $ (133,365) $ 133,365 $ (158,804)
Loss from discontinued operations (32,179) (32,179) 32,179 (32,179)
Loss from continuing operations (126,625) (101,186) 101,186 (126,625)
Adjustments to reconcile net income to net Cash (used in)
provided by operating activities:
Equity in earnings of subsidiaries 101,186 (101,186)
Depreciation and amortization 134,694 134,694
Equity compensation 16,354 16,354
Amortization of discount on convertible senior notes 6,811 6,811
Gain on sale of building (3,400) (3,400)
Deferred income taxes 1,841 (51,621) (49,780)
Impairments and dispositions 11,139 11,139
Changes in operating assets and liabilities, net (109,248) 137,225 27,977
NET CASH PROVIDED BY (USED IN)
OPERATING ACTIVITIES —
CONTINUING OPERATIONS (109,681) 126,851 — 17,170
NET CASH USED IN OPERATING
ACTIVITIES — DISCONTINUED
OPERATIONS (18,667) (18,667)
NET CASH PROVIDED BY (USED IN)
OPERATING ACTIVITIES (109,681) 108,184 — (1,497)
INVESTING ACTIVITIES
Purchases of property and equipment (127,305) (127,305)
Proceeds from sale of property and equipment 4,338 4,338
NET CASH USED IN INVESTING ACTIVITIES
— CONTINUING OPERATIONS — (122,967) — (122,967)
NET CASH USED IN INVESTING ACTIVITIES
— DISCONTINUED OPERATIONS (1,875) (1,875)
NET CASH USED IN INVESTING ACTIVITIES — (124,842) — (124,842)
FINANCING ACTIVITIES
Intercompany borrowings (15,698) 15,698
Payments on long-term debt and capital lease obligations (84,569) (4,673) (89,242)
Proceeds from revolving credit facility 156,675 156,675
Cash dividends paid (1,183) (1,183)
Purchase of common stock (34,889) (34,889)
Proceeds from issuance of common stock 4,089 4,089
NET CASH PROVIDED BY FINANCING
ACTIVITIES — CONTINUING
OPERATIONS 24,425 11,025 — 35,450
NET CASH PROVIDED BY FINANCING
ACTIVITIES — DISCONTINUED
OPERATIONS — — — —
NET CASH PROVIDED BY FINANCING ACTIVITIES 24,425 11,025 — 35,450
DECREASE IN CASH AND CASH EQUIVALENTS (85,256) (5,633) — (90,889)
CASH AND CASH EQUIVALENTS AT BEGINNING OF
YEAR 85,492 15,670 — 101,162
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 236 $ 10,037 $ — $ 10,273
F-44
Source: SAKS INC, 10-K, March 18, 2010 Powered by Morningstar® Document Research℠