DSW 2011 Annual Report Download - page 52

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Table of Contents
DSW INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
YEARS ENDED JANUARY 28, 2012, JANUARY 29, 2011 AND JANUARY 30, 2010
(in thousands)
January 28, 2012
January 29, 2011
January 30, 2010
Cash flows from operating activities:
Net income (loss)
$
195,483
$
58,448
$
(5,730
)
Less: total loss (income) from discontinued operations, net of tax
4,855
(6,628
)
(59,880
)
Income (loss) before discontinued operations
200,338
51,820
(65,610
)
Adjustments to reconcile net income (loss) to net cash and equivalents provided by operating activities from continuing operations:
Amortization of debt issuance costs and discount on debt
5,086
3,748
3,530
Depreciation and amortization
51,237
48,262
46,738
Capital transactions of subsidiary
2,778
3,543
2,744
DSW and RVI stock-based compensation expense
4,850
(495
)
997
Deferred income taxes
(104,818
)
(2,010
)
(38,559
)
Change in fair value of derivative instruments
53,914
49,014
66,499
Loss on disposal of long-lived assets
1,512
1,622
1,145
Impairment of long-lived assets
1,626
856
Impairment of lease
3,394
Impairment charges on receivables from Filene’s Basement
57,884
Excess tax benefits related to stock option exercises
(6,872
)
(458
)
Other-than-temporary impairment charges on investments
2,895
Other
14,522
15,279
15,628
Change in working capital:
Accounts receivable, net
(3,810
)
(6,523
)
1,532
Inventories
(25,377
)
(46,729
)
(18,276
)
Prepaid expenses and other current assets
6,452
(12,917
)
4,933
Accounts payable
(1,909
)
26,986
23,037
Accrued expenses
11,260
(4,156
)
28,407
Net cash and equivalents provided by operating activities from continuing
operations
214,183
126,986
134,380
Cash flows from investing activities:
Cash paid for property and equipment
(74,707
)
(46,735
)
(23,080
)
Purchases of available-for-sale investments
(186,570
)
(27,957
)
(200,002
)
Purchases of held-to-maturity investments
(207,194
)
(274,425
)
(23,983
)
Maturities and sales of available-for-sale investments
150,244
77,009
153,753
Maturities of held-to-maturity investments
178,808
96,011
6,925
Transfer of cash from restricted cash
10,261
Transfer of cash to restricted cash
(10,000
)
Activity related to equity investment - related party
(199
)
199
(1,151
)
Purchase of tradename
(225
)
Net cash and equivalents used in investing activities from continuing
operations
(139,618
)
(176,123
)
(87,277
)
Cash flows from financing activities:
Payment of current maturities on long-term obligations
(250
)
Loan proceeds from related party loan
11,000
Payment of related party loan
(11,000
)
Proceeds from exercise of RVI and DSW stock options
5,352
187
612
Cash settlement of RVI options and SARs
(7,000
)
Debt issuance costs
(2,625
)
(783
)
Cash paid for fractional shares
(28
)
Proceeds from the exercise of warrants
995