Big Lots 2012 Annual Report Download - page 135

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BIG LOTS, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements (Continued)
Note 1 — Basis of Presentation and Summary of Significant Accounting Policies (Continued)
Other Comprehensive Income
Our other comprehensive income includes the impact of the amortization of our pension actuarial loss, net of
tax, the revaluation of our pension actuarial loss, net of tax, and the impact of foreign currency translation.
Supplemental Cash Flow Disclosures
The following table provides supplemental cash flow information for 2012, 2011, and 2010:
2012 2011 2010
(In thousands)
Supplemental disclosure of cash flow information:
Cash paid for interest, including capital leases ....................... $ 3,369 $ 2,742 $ 830
Cash paid for income taxes, excluding impact of refunds............... $95,596 $114,406 $100,973
Non-cash activity:
Assets acquired under capital leases.......................... $ 392 $ 2,925 $ —
Accrued property and equipment ............................ $ 6,824 $ 8,711 $ 9,449
Notes payable assumed in acquisition ........................ $ — $ 16,664 $ —
During 2012 and 2011, our gross proceeds from borrowings under the bank credit facility were $1,448.8 million
and $846.3 million, respectively, and our gross repayments of borrowings under the bank credit facility were
$1,343.5 million and $780.4 million, respectively.
Reclassifications
In the fourth quarter of 2012, we realigned our merchandise categories in our U.S. segment to be consistent
with the realignment of our merchandising team and changes to our management reporting. Prior to the
fourth quarter of 2012, we reported sales of our toys, books and sporting goods departments in the Play n’
Wear category. We moved the toys, books and sporting goods departments out of the Play n’ Wear category
and repositioned them in the Hardlines & Other category. We subsequently renamed our Hardlines & Other
category to Hardlines & Toys. We also moved the results of certain large closeout deals that are typically
acquired through our alternate product sourcing operations out of the Hardlines & Toys category and
repositioned them in the Play n’ Wear category, which we renamed Electronics & Other. Our Consumables
category, which previously contained our food departments, was also bifurcated into both a Food category and
Consumables category. The Consumables category now only contains our health and beauty care, housekeeping
supplies, household chemicals, paper products, pet, and home organization departments, while the Food
category contains our various food departments. We reclassified the results of all periods presented to reflect
this realignment of our merchandise categories.
Recent Accounting Standards
There are currently no new accounting pronouncements with a future effective date that are of significance, or
potential significance, to us.
Subsequent Events
We have evaluated events and transactions subsequent to the balance sheet date. Based on this evaluation, we
are not aware of any events or transactions (other than those disclosed elsewhere) that occurred subsequent
to the balance sheet date but prior to filing that would require recognition or disclosure in our consolidated
financial statements.