DSW 2013 Annual Report Download - page 49
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Table of Contents
Cash flows from operating activities:
Net income $ 151,302
$ 146,439
$195,483
Less: total (income) loss from discontinued operations, net of tax —
(1,253)
4,855
Income from continuing operations $ 151,302
$145,186
$200,338
Adjustments to reconcile net income to net cash and equivalents provided by operating activities from continuing operations:
Amortization of debt issuance costs and discount on debt 137
201
5,086
Depreciation and amortization 64,100
57,801
51,237
Capital transactions of subsidiary —
—
2,778
DSW and RVI stock-based compensation expense 9,342
8,080
4,914
Deferred income taxes 41,834
85,168
(104,818)
Change in fair value of derivative instruments —
6,121
53,914
Loss on disposal of long-lived assets 1,902
1,943
1,512
Impairment of long-lived assets 809
—
1,626
Impairment of lease —
5,984
3,394
Excess tax benefits related to stock-based compensation (6,236)
(14,773)
(6,872)
Amortization of investment discounts and premiums 10,357
6,834
5,760
Settlement of pension plan 14,224
—
—
Change in working capital, other assets and liabilities:
Accounts receivable, net 138
(9,382)
(3,810)
Inventories (3,974)
(59,404)
(25,377)
Prepaid expenses and other current assets (7,831)
3,811
6,452
Accounts payable 15,957
2,793
(1,909)
Accrued expenses 3,766
(3,157)
11,260
Other 5,548
21,358
8,698
Net cash and equivalents provided by operating activities from continuing
operations $301,375
$258,564
$214,183
Cash flows (used in) investing activities:
Cash paid for property and equipment (86,412)
(102,034)
(74,707)
Cash paid for property and equipment related to acquisition of commonly
controlled entity —
(32,443)
—
Purchases of available-for-sale investments (34,720)
(44,790)
(186,570)
Purchases of held-to-maturity investments (379,438)
(309,032)
(207,194)
Maturities and sales of available-for-sale investments 36,950
160,332
150,244
Maturities of held-to-maturity investments 228,358
207,408
178,808
Activity related to equity investment - related party —
1,151
(199)
Increase in restricted cash (6,147)
—
—
Net cash and equivalents used in investing activities from continuing
operations $(241,409)
$(119,408)
$(139,618)
Cash flows (used in) financing activities:
Loan proceeds from related party loan —
—
11,000
Payment of related party loan —
—
(11,000)
Proceeds from exercise of RVI and DSW stock options 6,251
15,556
5,352
Cash remitted by DSW to satisfy income tax withholdings for shares
withheld related to restricted stock unit vesting and net-settled option exercises (3,157)
(6,411)
—
Cash settlement of RVI options and SARs —
—
(7,000)
Debt issuance costs (268)
—
(2,625)
Cash paid for treasury shares (1,600)
—
—
Source: DSW Inc., 10-K, March 27, 2014 Powered by Morningstar® Document Research℠
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