Dollar General 2003 Annual Report Download - page 47

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For the year ended January 30, 2004
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––-
DOLLAR GENERAL GUARANTOR CONSOLIDATED
CORPORATION SUBSIDIARIES ELIMINATIONS TOTAL
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––-
STATEMENTS OF CASH FLOWS:
Cash flows from operating activities:
Net income $ 301,000 $ 302,154 $ (302,154) $ 301,000
Adjustments to reconcile net income to net cash
provided by (used in) operating activities:
Depreciation and amortization 19,961 132,438 - 152,399
Deferred income taxes (2,102) 21,952 - 19,850
Tax benefit from stock option exercises 14,565 - - 14,565
Equity in subsidiaries’ earnings, net (302,154) - 302,154 -
Change in operating assets and liabilities:
Merchandise inventories - (34,110) - (34,110)
Other current assets (7,323) (1,006,071) 992,710 (20,684)
Accounts payable 942,180 92,977 (992,669) 42,488
Accrued expenses and other 15,752 42,846 746 59,344
Income taxes 4,079 (25,543) - (21,464)
Other, including other assets (608,100) 614,053 (787) 5,166
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Net cash provided by operating activities 377,858 140,696 - 518,554
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Cash flows from investing activities:
Purchase of property and equipment (15,526) (133,836) - (149,362)
Purchase of promissory notes (49,582) - - (49,582)
Proceeds from sale of property and equipment 39 230 - 269
Issuance of long-term notes receivable - (1,419) 1,419 -
Contribution of capital (10) - 10 -
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Net cash used in investing activities (65,079) (135,025) 1,429 (198,675)
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Cash flows from financing activities:
Issuance of long-term obligations 1,419 - (1,419) -
Repayments of long-term obligations (7,753) (8,154) - (15,907)
Payment of cash dividends (46,883) - - (46,883)
Proceeds from exercise of stock options 49,485 - - 49,485
Repurchases of common stock (29,687) - - (29,687)
Other financing activities 73 - - 73
Issuance of common stock, net - 10 (10) -
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Net cash used in financing activities (33,346) (8,144) (1,429) (42,919)
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Net increase (decrease) in cash
and cash equivalents 279,433 (2,473) - 276,960
Cash and cash equivalents, beginning of year 72,799 48,519 - 121,318
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Cash and cash equivalents, end of year $ 352,232 $ 46,046 $ - $ 398,278
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Notes
45