Urban Outfitters 2012 Annual Report Download - page 57

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Table of Contents
URBAN OUTFITTERS, INC.
Consolidated Statements of Cash Flows
(in thousands)
Fiscal Year Ended January 31,
2012 2011 2010
Cash flows from operating activities:
Net income $ 185,251 $ 272,958 $ 219,893
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization 108,112 101,105 92,350
Provision for deferred income taxes (12,150) (8,727) 2,161
Excess tax benefit on share-based compensation (8,995) (12,847) (6,438)
Share-based compensation expense 3,068 10,725 4,766
Loss on disposition of property and equipment, net 857 119 339
Changes in assets and liabilities:
Receivables (251) 1,835 (1,825)
Inventories (20,817) (43,372) (15,544)
Prepaid expenses and other assets 6,317 14,825 (25,619)
Accounts payable, accrued expenses and other liabilities 21,310 48,492 55,311
Net cash provided by operating activities 282,702 385,113 325,394
Cash flows from investing activities:
Cash paid for property and equipment (190,010) (143,642) (109,260)
Cash paid for marketable securities (169,467) (463,129) (806,546)
Sales and maturities of marketable securities 414,769 571,236 421,040
Net cash provided by (used in) investing activities 55,292 (35,535) (494,766)
Cash flows from financing activities:
Exercise of stock options 4,136 24,129 3,250
Excess tax benefit from stock option exercises 8,995 12,847 6,438
Share repurchases (545,478) (204,718) —
Net cash (used in) provided by financing activities (532,347) (167,742) 9,688
Effect of exchange rate changes on cash and cash equivalents (631) (603) 2,673
(Decrease) increase in cash and cash equivalents (194,984) 181,233 (157,011)
Cash and cash equivalents at beginning of period 340,257 159,024 316,035
Cash and cash equivalents at end of period $ 145,273 $ 340,257 $ 159,024
Supplemental cash flow information:
Cash paid during the year for:
Income taxes $ 120,847 $ 121,341 $ 137,490
Non-cash investing activities—Accrued capital expenditures $ 21,955 $ 8,077 $ 12,960
The accompanying notes are an integral part of these consolidated financial statements.
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