Staples 2004 Annual Report Download - page 122

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STAPLES, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements (Continued)
NOTE M Guarantor Subsidiaries (Continued)
Condensed Consolidating Statement of Cash Flows
For the year ended January 31, 2004
(in thousands)
Non-
Staples, Inc. Guarantor Guarantor
(Parent Co.) Subsidiaries Subsidiaries Consolidated
Net cash provided by operating activities .................. $ 601,508 $204,795 $213,429 $1,019,732
Investing activities:
Acquisition of property, equipment and lease rights ......... (21,092) (177,520) (79,181) (277,793)
Acquisition of businesses, net of cash acquired ............ — — (2,910) (2,910)
Purchase of short-term investments .................... (9,004,125) — (10,000) (9,014,125)
Proceeds from the sale of short term investments .......... 8,180,025 — — 8,180,025
Cash used in investing activities ......................... (845,192) (177,520) (92,091) (1,114,803)
Financing activities:
Payments on borrowings ............................ (325,235) (25,000) — (350,235)
Proceeds from borrowings and other ................... 389,793 (4,287) — 385,506
Cash provided by (used in) financing activities ............ 64,558 (29,287) — 35,271
Effect of exchange rate changes on cash ................. — — 21,376 21,376
Net (decrease) increase in cash ......................... (179,126) (2,012) 142,714 (38,424)
Cash and cash equivalents at beginning of period ............ 290,400 57,519 147,970 495,889
Cash and cash equivalents at end of period ................ $ 111,274 $ 55,507 $290,684 $ 457,465
Condensed Consolidating Statement of Cash Flows
For the year ended February 1, 2003
(in thousands)
Non-
Staples, Inc. Guarantor Guarantor
(Parent Co.) Subsidiaries Subsidiaries Consolidated
Net cash provided by operating activities .................. $ 654,968 $161,288 $ 98,094 $ 914,350
Investing activities:
Acquisition of property, equipment and lease rights ........ (17,609) (157,104) (90,326) (265,039)
Acquisition of businesses, net of cash acquired ............ (1,171,187) — — (1,171,187)
Purchase of short-term investments .................... (366,171) — — (366,171)
Proceeds from the sale of short-term investments .......... 265,996 — — 265,996
Cash used in investing activities ........................ (1,288,971) (157,104) (90,326) (1,536,401)
Financing activities:
Payments on borrowings ............................ (20,235) (75,000) — (95,235)
Proceeds from borrowings and other ................... 718,296 74,526 16,496 809,318
Cash provided by (used in) financing activities .............. 698,061 (474) 16,496 714,083
Effect of exchange rate changes on cash .................. — — 9,033 9,033
Net increase in cash ................................. 64,058 3,710 33,297 101,065
Cash and cash equivalents at beginning of period ........... 226,342 53,809 114,673 394,824
Cash and cash equivalents at end of period ................ $ 290,400 $ 57,519 $147,970 $ 495,889
C-31