Dollar General 2009 Annual Report Download - page 123

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DOLLAR GENERAL CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
15. Guarantor subsidiaries (Continued)
February 3, 2007 through July 6, 2007
DOLLAR
GENERAL GUARANTOR OTHER CONSOLIDATED
PREDECESSOR CORPORATION SUBSIDIARIES SUBSIDIARIES ELIMINATIONS TOTAL
STATEMENTS OF CASH FLOWS:
Cash flows from operating activities:
Net income (loss) ............. $ (7,998) $ 32,974 $ 10,011 $(42,985) $ (7,998)
Adjustments to reconcile net income
(loss) to net cash provided by
operating activities:
Depreciation and amortization .... 9,051 74,770 96 — 83,917
Deferred income taxes ........ (7,982) (9,194) (3,698) — (20,874)
Tax benefit of stock options ..... (3,927) — — — (3,927)
Noncash share-based compensation . 45,433 — — — 45,433
Other noncash gains and losses . . . — 5,098 — — 5,098
Equity in subsidiaries’ earnings, net . (42,985) — — 42,985 —
Change in operating assets and
liabilities:
Merchandise inventories ...... — 16,424 — — 16,424
Prepaid expenses and other
current assets ........... 5,758 (11,762) (180) — (6,184)
Accounts payable .......... 44,909 (23,103) 12,988 — 34,794
Accrued expenses and other
liabilities .............. 7,897 36,021 9,077 — 52,995
Income taxes ............. (24,998) 31,741 (3,934) — 2,809
Other ................. 21 (372) (190) — (541)
Net cash provided by operating
activities ................. 25,179 152,597 24,170 — 201,946
Cash flows from investing activities:
Purchases of property and equipment . (5,321) (50,737) (95) — (56,153)
Purchases of short-term investments . . — — (5,100) — (5,100)
Sales of short-term investments ..... — — 9,505 — 9,505
Purchases of long-term investments . . — — (15,754) — (15,754)
Sale and insurance proceeds related to
property and equipment ........ — 620 — — 620
Net cash used in investing activities . . (5,321) (50,117) (11,444) — (66,882)
Cash flows from financing activities:
Repayments of long-term obligations . (148) (4,352) — — (4,500)
Payment of cash dividends ........ (15,710) — — — (15,710)
Proceeds from exercise of stock
options .................. 41,546 — — — 41,546
Tax benefit of stock options ....... 3,927 — — — 3,927
Changes in intercompany note
balances, net .............. 75,840 (86,988) 11,148 — —
Net cash provided by (used in)
financing activities ........... 105,455 (91,340) 11,148 — 25,263
Net increase in cash and cash
equivalents ................ 125,313 11,140 23,874 — 160,327
Cash and cash equivalents, beginning
of year .................. 114,310 58,107 16,871 — 189,288
Cash and cash equivalents, end of
period .................. $239,623 $ 69,247 $ 40,745 $ — $349,615
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