Dollar General 2006 Annual Report Download - page 93

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For the year ended February 3, 2006
DOLLAR
GENERAL
CORPORATION GUARANTOR
SUBSIDIARIES ELIMINATIONS CONSOLIDATED
TOTAL
STATEMENTS OF CASH
FLOWS:
Cash flows from operating activities:
Net income $350,155 $328,612 $(328,612) $ 350,155
Adjustments to reconcile net income
to net cash provided by
operating activities:
Depreciation and amortization 20,046 166,778 - 186,824
Deferred income taxes (750) 8,994 - 8,244
Noncash share-based
compensation 3,332 - - 3,332
Tax benefit from stock option
exercises 6,457 -- 6,457
Equity in subsidiaries’
earnings, net (328,612) -328,612 -
Change in operating assets and
liabilities:
Merchandise inventories - (97,877) - (97,877)
Prepaid expenses and
other current assets (4,546) (6,084) - (10,630)
Accounts payable (26,052) 113,282 - 87,230
Accrued expenses and
other (12,210) 52,586 - 40,376
Income taxes 13 (26,030) - (26,017)
Other 2,919 4,472 - 7,391
Net cash provided by operating
activities 10,752 544,733 - 555,485
Cash flows from investing activities:
Purchases of property and equipment (18,089) (266,023) - (284,112)
Purchases of short-term investments (123,925) (8,850) - (132,775)
Sales of short-term investments 166,350 500 - 166,850
Purchases of long-term investments - (16,995) - (16,995)
Insurance proceeds related to
property and equipment - 1,210 - 1,210
Proceeds from sale of property and
equipment 100 1,319 - 1,419
Net cash provided by (used in)
investing activities 24,436 (288,839) - (264,403)
Cash flows from financing activities:
Borrowings under revolving credit
facility 232,200 -- 232,200
Repayments of borrowings under
revolving credit facility (232,200) -- (232,200)
Issuance of long-term obligations - 14,495 - 14,495
Repayments of long-term obligations (4,969) (9,341) - (14,310)
Payment of cash dividends (56,183) -- (56,183)
Proceeds from exercise of stock
options 29,405 -- 29,405
Repurchases of common stock (297,602) -- (297,602)
Changes in intercompany note
balances, net 276,509 (276,509) - -
Other financing activities 892 -- 892
Net cash used in financing activities (51,948) (271,355) - (323,303)
Net decrease in cash and cash
equivalents (16,760) (15,461) - (32,221)
Cash and cash equivalents, beginning
of year 127,170 105,660 - 232,830
Cash and cash equivalents, end of
year $110,410 $90,199 $- $ 200,609
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