Cracker Barrel 2012 Annual Report Download - page 37

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35
Consolidated Statements Of Cash Flows
(In thousands)
CRACKER BARREL OLD COUNTRY STORE, INC.
Fiscal years ended
August 3, 2012 July 29, 2011 July 30, 2010
Cash ows from operating activities:
Net income $ 103,081 $ 85,208 $ 85,258
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization 64,467 62,788 61,024
Loss (gain) on disposition of property and equipment 2,702 (1,418) 4,697
Impairment — 3,219 2,672
Share-based compensation 14,420 9,796 13,193
Excess tax benet from share-based compensation (4,502) (4,108) (5,063)
Changes in assets and liabilities:
Accounts receivable (2,330) 1,251 (800)
Income taxes receivable 7,898 (7,898) 4,078
Inventories (1,720) 2,532 (6,655)
Prepaid expenses and other current assets (2,405) (391) 584
Other assets (4,725) (803) (5,642)
Accounts payable 1,592 (16,539) 24,050
Taxes withheld and accrued 7,369 (652) 906
Income taxes payable 10,327 (3,516) 12,687
Accrued employee compensation 17,729 (10,680) 9,880
Accrued employee benets (2,701) (1,690) (1,696)
Deferred revenues 5,066 5,086 5,016
Other current liabilities (7,676) (4,347) (457)
Other long-term obligations 9,973 12,576 5,002
Deferred income taxes 1,257 7,798 3,372
Net cash provided by operating activities 219,822 138,212 212,106
Cash ows from investing activities:
Purchase of property and equipment (80,922) (77,962) (70,132)
Proceeds from insurance recoveries of property and equipment 752 276 241
Proceeds from sale of property and equipment 623 8,197 265
Net cash used in investing activities (79,547) (69,489) (69,626)
Cash ows from nancing activities:
Proceeds from issuance of long-term debt 92,600 687,000 349,600
Proceeds from exercise of share-based compensation awards 17,602 20,540 37,460
Principal payments under long-term debt and other long-term obligations (117,733) (717,263) (414,572)
Purchases and retirement of common stock (14,923) (33,563) (62,487)
Deferred nancing costs (263) (5,125) (2,908)
Dividends on common stock (22,372) (19,846) (18,545)
Excess tax benet from share-based compensation 4,502 4,108 5,063
Net cash used in nancing activities (40,587) (64,149) (106,389)
Net increase in cash and cash equivalents 99,688 4,574 36,091
Cash and cash equivalents, beginning of year 52,274 47,700 11,609
Cash and cash equivalents, end of year $ 151,962 $ 52,274 $ 47,700
Supplemental disclosure of cash ow information:
Cash paid during the year for:
Interest, net of amounts capitalized $ 50,357 $ 46,301 $ 45,320
Income taxes 18,768 32,248 20,673
Supplemental schedule of non-cash nancing activity:
Change in fair value of interest rate swaps $ 17,223 $ 14,677 $ (5,049)
Change in deferred tax asset for interest rate swaps (349) (3,860) 1,022
See Notes to Consolidated Financial Statements.