Dick's Sporting Goods 2015 Annual Report Download - page 48

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DICK'S SPORTING GOODS,€INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Dollars in thousands)
Fiscal Year Ended
January 30,
2016
January 31,
2015
February 1,
2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income $330,391 $344,198 $337,598
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization 193,594 179,431 154,928
Deferred income taxes 9,243 (6,259)24,563
Stock-based compensation 29,288 26,275 27,119
Excess tax benefit from exercise of stock options (6,825)(11,953)(26,906)
Gain on sale of asset — (14,428)—
Other non-cash items 626 576 581
Changes in assets and liabilities:
Accounts receivable (6,412)1,797 (9,690)
Inventories (136,420)(158,702)(135,879)
Prepaid expenses and other assets (21,266)(11,004)(7,717)
Accounts payable 34,232 81,330 11,684
Accrued expenses 5,190 16,158 (7,117)
Income taxes payable / receivable 7,157 32,476 (13,357)
Deferred construction allowances 165,616 101,630 47,760
Deferred revenue and other liabilities 39,100 24,453 303
Net cash provided by operating activities 643,514 605,978 403,870
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures (370,028)(349,007)(285,668)
Proceeds from sale of other assets — 74,534 11,000
Deposits and purchases of other assets (2,406)(30,547)(64,507)
Net cash used in investing activities (372,434)(305,020)(339,175)
CASH FLOWS FROM FINANCING ACTIVITIES:
Revolving credit borrowings 1,338,100 1,401,800 926,000
Revolving credit repayments (1,338,100)(1,401,800)(926,000)
Payments on other long-term debt and leasing obligations (537)(925)(8,984)
Construction allowance receipts — — —
Proceeds from exercise of stock options 20,617 26,121 43,482
Excess tax benefit from exercise of stock options 6,826 12,204 27,106
Minimum tax withholding requirements (7,753)(7,793)(13,168)
Cash paid for treasury stock (357,276)(200,000)(255,602)
Cash dividends paid to stockholders (64,715)(61,262)(64,432)
Increase (decrease) in bank overdraft 29,121 (29,258)43,508
Net cash used in financing activities (373,717)(260,913)(228,090)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS (106)(97)(88)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (102,743)39,948 (163,483)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 221,679 181,731 345,214
CASH AND CASH EQUIVALENTS, END OF PERIOD $118,936 $221,679 $181,731
Supplemental disclosure of cash flow information:
Accrued property and equipment $43,481 $42,900 $40,745
Cash paid during the year for interest $3,308 $2,631 $2,255
Cash paid during the year for income taxes $186,741 $186,790 $206,397
See accompanying notes to consolidated financial statements.
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