Cracker Barrel 2015 Annual Report Download - page 31

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29
ConsolidatedStatements Of Cash Flows
(Inthousands)
CRACKER BARRELOLD COUNTRY STORE, INC.
Fiscal yearsended
July 31, 2015 August 1, 2014 August 2, 2013
Cash owsfrom operating activities:
Netincome $163,903 $132,128 $117,265
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization 72,955 68,389 66,120
Loss on disposition of property andequipment 6,872 5,163 4,057
Share-based compensation 16,210 7,924 17,839
Excesstax benet from share-based compensation (4,705) (1,248) (2,332)
Changes in assetsand liabilities:
Accounts receivable4,654 (6,762) (1,333)
Income taxes receivable2,973 (1,725) —
Inventories 12,368 (18,739) (3,420)
Prepaid expenses and other current assets (2,170) 651 (1,243)
Other assets(1,659) (1,701) (1,033)
Accounts payable 34,640 (12,160) 9,366
Ta xes withheld and accrued2,800 1,185 (4,628)
Accrued employee compensation 6,485 (1,847) (4,143)
Accrued employee benets 1,667 1,573 (2,069)
Deferred revenues 9,155 5,727 6,402
Other current liabilities4,034 (1,960) 6,628
Other long-termobligations11,090 3,865 5,895
Deferred income taxes (7,217) (2,838) (4,872)
Netcash provided by operating activities334,055 177,625 208,499
Cash owsfrom investing activities:
Purchase of propertyand equipment (90,855) (91,646) (74,417)
Proceedsfrom insurance recoveries of propertyand equipment 365 1,082 456
Proceedsfrom sale of property andequipment 1,876 1,749 555
Netcash used in investing activities(88,614) (88,815) (73,406)
Cash owsfrom nancing activities:
Proceedsfrom issuance of long-termdebt 406,250 — —
(Taxes withheld) and proceedsfrom issuance of share-basedcompensation awards, net(4,816) (8,457) 6,454
Principal paymentsunder long-termdebt and other long-termobligations(406,250) (1) (125,153)
Purchases andretirement of common stock —(12,473) (3,570)
Deferred nancing costs (3,537) — —
Dividends on common stock (95,699) (71,484) (45,400)
Excesstax benet from share-based compensation 4,705 1,248 2,332
Netcash used in nancing activities(99,347) (91,167) (165,337)
Netincrease (decrease) in cash and cash equivalents 146,094 (2,357) (30,244)
Cash and cash equivalents, beginning of year 119,361 121,718 151,962
Cash and cash equivalents, end of year $265,455 $119,361 $121,718
Supplementaldisclosure of cash ow information:
Cash paid during the yearfor:
Interest,net of amounts capitalized $ 15,356 $15,856 $29,959
Income taxes69,948 66,444 47,550
Supplementalschedule of non-cash investing and nancing activities:
Capital expenditures accrued in accountspayable $5,800 $5,767 $6,852
Changein fair value of interest rate swaps 1,641 3,058 23,620
Changein deferred taxasset for interest rate swaps(633) (1,179) (9,074)
Dividends declared but not yet paid 99,678 23,997 17,847
SeeNotesto ConsolidatedFinancial Statements.