Cracker Barrel 2013 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 2, 2013 August 3, 2012 July 29, 2011
Cash ows from operating activities:
Net income $ 117,265 $ 103,081 $ 85,208
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization 66,120 64,467 62,788
Loss (gain) on disposition of property and equipment 4,057 2,702 (1,418)
Impairment — — 3,219
Share-based compensation 17,839 14,420 9,796
Excess tax benet from share-based compensation (2,332) (4,502) (4,108)
Changes in assets and liabilities:
Accounts receivable (1,333) (2,330) 1,251
Income taxes receivable — 7,898 (7,898)
Inventories (3,420) (1,720) 2,532
Prepaid expenses and other current assets (1,243) (2,405) (391)
Other assets (1,033) (4,725) (803)
Accounts payable 9,366 1,592 (16,539)
Taxes withheld and accrued (4,628) 7,369 (652)
Accrued employee compensation (4,143) 17,729 (10,680)
Accrued employee benets (2,069) (2,701) (1,690)
Deferred revenues 6,402 5,066 5,086
Other current liabilities 6,628 2,651 (7,863)
Other long-term obligations 5,895 9,973 12,576
Deferred income taxes (4,872) 1,257 7,798
Net cash provided by operating activities 208,499 219,822 138,212
Cash ows from investing activities:
Purchase of property and equipment (74,417) (80,922) (77,962)
Proceeds from insurance recoveries of property and equipment 456 752 276
Proceeds from sale of property and equipment 555 623 8,197
Net cash used in investing activities (73,406) (79,547) (69,489)
Cash ows from nancing activities:
Proceeds from issuance of long-term debt — 92,600 687,000
Proceeds from exercise of share-based compensation awards 6,454 17,602 20,540
Principal payments under long-term debt and other long-term obligations (125,153) (117,733) (717,263)
Purchases and retirement of common stock (3,570) (14,923) (33,563)
Deferred nancing costs — (263) (5,125)
Dividends on common stock (45,400) (22,372) (19,846)
Excess tax benet from share-based compensation 2,332 4,502 4,108
Net cash used in nancing activities (165,337) (40,587) (64,149)
Net (decrease) increase in cash and cash equivalents (30,244) 99,688 4,574
Cash and cash equivalents, beginning of year 151,962 52,274 47,700
Cash and cash equivalents, end of year $ 121,718 $ 151,962 $ 52,274
Supplemental disclosure of cash ow information:
Cash paid during the year for:
Interest, net of amounts capitalized $ 29,959 $ 50,357 $ 46,301
Income taxes 47,550 18,768 32,248
Supplemental schedule of non-cash nancing activity:
Change in fair value of interest rate swaps $ 23,620 $ 17,223 $ 14,677
Change in deferred tax asset for interest rate swaps (9,074) (349) (3,860)
Dividends declared but not yet paid 17,847 9,732 5,190
See Notes to Consolidated Financial Statements.