Dillard's 2015 Annual Report Download - page 50

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F-8
Consolidated Statements of Cash Flows
Dollars in Thousands
Years Ended
January 30, 2016 January 31, 2015 February 1, 2014
Operating activities:
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 269,370 $ 331,853 $ 323,671
Adjustments to reconcile net income to net cash provided by
operating activities:
Depreciation and amortization of property and other deferred cost . 252,147 252,334 257,237
Deferred income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (35,975)(30,927)(7,329)
Gain on disposal of assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (12,626)(6,069)(12,379)
Asset impairment and store closing charges. . . . . . . . . . . . . . . . . . . — — 5,353
Changes in operating assets and liabilities:. . . . . . . . . . . . . . . . . . . . .
Decrease (increase) in accounts receivable . . . . . . . . . . . . . . . . . . . 9,372 (25,670) 679
Increase in merchandise inventories. . . . . . . . . . . . . . . . . . . . . . . . . (24)(29,160)(50,740)
Decrease (increase) in other current assets. . . . . . . . . . . . . . . . . . . . 2,911 1,406 (4,272)
Decrease in other assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,939 1,031 3,810
(Decrease) increase in trade accounts payable and accrued
expenses and other liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (33,702) 104,923 (21,752)
(Decrease) increase in income taxes payable . . . . . . . . . . . . . . . . . . (4,186) 11,868 7,479
Net cash provided by operating activities . . . . . . . . . . . . . . . . . . . . . . 450,226 611,589 501,757
Investing activities:
Purchase of property and equipment . . . . . . . . . . . . . . . . . . . . . . . . (165,788)(151,888)(94,923)
Proceeds from disposal of assets . . . . . . . . . . . . . . . . . . . . . . . . . . . 25,503 14,767 18,295
Decrease (increase) in restricted cash. . . . . . . . . . . . . . . . . . . . . . . . 7,346 (7,346)—
Distribution from joint venture. . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 1,055 —
Net cash used in investing activities . . . . . . . . . . . . . . . . . . . . . . . . . . (132,939)(143,412)(76,628)
Financing activities:
Principal payments on long-term debt and capital lease obligations (5,299)(784)(1,691)
Cash dividends paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (10,008)(10,367)(7,361)
Purchase of treasury stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (500,000)(290,408)(301,566)
Issuance cost of line of credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (2,863)—
(1,437)
Net cash used in financing activities. . . . . . . . . . . . . . . . . . . . . . . . . . (518,170)(301,559)(312,055)
(Decrease) increase in cash and cash equivalents. . . . . . . . . . . . . . . . (200,883) 166,618 113,074
Cash and cash equivalents, beginning of year . . . . . . . . . . . . . . . . . . 403,752 237,134 124,060
Cash and cash equivalents, end of year. . . . . . . . . . . . . . . . . . . . . . . . $ 202,869 $ 403,752 $ 237,134
Non-cash transactions: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Accrued capital expenditures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 10,909 $ 12,051 $ 9,775
Stock awards. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,803 2,785 2,713
Capital lease transactions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,093 — —
See notes to consolidated financial statements.