Coach 2006 Annual Report Download - page 32
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Shares issued for stock
options and employee
benefit plans
108,318 — 77 108,241 — — 7,692
Share-based compensation 56,726 — — 56,726 — —
Excess tax benefit from share-
based compensation
65,100 — — 65,100 — —
Adjustment to excess tax
benefit from share-based
compensation
(16,658) — — (16,658) — —
Repurchase of common stock (149,999) — (50) (9,954) (139,995) — (5,002)
Changes in derivatives
balances, net of tax
4,708 — — — — 4,708 4,708
Translation adjustments (9,944) — — — — (9,944) (9,944)
Minimum pension liability (58) — — — — (58) (58)
Adjustment to initially apply
SFAS 158, net of tax
(238) — — — — (238)
Comprehensive income $ 658,371
Balances at June 30, 2007 $ 1,910,354 $ — $ 3,725 $ 978,664 $ 940,757 $ (12,792) 372,521
See accompanying Notes to Consolidated Financial Statements.
41
Net income $ 663,665 $ 494,277 $ 358,612
Adjustments to reconcile net income to net cash from
operating activities:
Depreciation and amortization 80,887 65,115 50,400
Provision for bad debt 1,845 252 41
Minority interest — — 13,641
Share-based compensation 56,726 69,190 55,880
Excess tax benefit from share-based compensation (65,100) (99,337) (68,667)
Decrease (increase) in deferred tax assets 7,745 (56,731) (54,990)
(Decrease) increase in deferred tax liabilities (1,107) 33,788 (8,428)
Other, net (5,375) (14,723) 3,881
Changes in operating assets and liabilities:
Increase in trade accounts receivable (25,298) (19,214) (9,716)
Increase in inventories (57,698) (49,075) (22,506)
Increase in other assets (33,463) (6,130) (14,885)
Increase in other liabilities 30,382 19,307 23,820
Increase in accounts payable 29,490 14,834 20,214
Increase in accrued liabilities 96,403 145,050 128,299
Net cash provided by operating activities 779,102 596,603 475,596
Purchases of property and equipment (140,872) (133,876) (94,592)
Acquisition of joint venture — — (228,431)
Proceeds from dispositions of property and equipment 156 237 18
Purchases of investments (920,999) (1,195,934) (379,530)
Proceeds from maturities of investments 685,789 1,148,618 330,703
Net cash used in investing activities (375,926) (180,955) (371,832)
Repurchase of common stock (149,999) (600,271) (264,971)
Distribution of earnings to joint venture shareholders — — (57,403)
Repayment of joint venture partner contribution — — (15,524)
Repayment of long-term debt (170) (150) (115)
Borrowings on revolving credit facility 57,048 58,512 359,503
Repayments of revolving credit facility (57,048) (70,804) (348,910)